EURUSD edged up at 1.0920, before retracing below the daily pivot.

January 28, 2016

Article by ForexTime

EURUSD H4
Resistance 1.0920 1.0950 1.0986
Support 1.0854 1.0819 1.0788
Primary Scenario EURUSD edged up at 1.0920, before retracing below the daily pivot at 1.0885. A sustained trading below this level will push prices towards the support level at 1.0854 and then lower at 1.0819.
Alternative Scenario A surge of the market above the daily pivot point will trigger the currency pair to retest the hurdle at 1.0920.

GBPUSD H4
Resistance 1.4313 1.4396 1.4438
Support 1.4188 1.4146 1.4062
Primary Scenario The pair is negotiating below the daily pivot point at 1.4271. A decisive movement to the south will lead GBPUSD down to 1.4188 and further lower to 1.4146.
Alternative Scenario On the other hand, an upward wave would lift the exchange rate above the daily pivot, targeting the resistance level at 1.4313.

USDCHF H4
Resistance 1.0180 1.0214 1.0239
Support 1.0121 1.0096 1.0062
Primary Scenario USDCHF has experienced strong resistance in the previous session. A successful attempt to penetrate the barrier at 1.0180 will fuel the pair further towards the resistance levels at 1.0214 and 1.0239.
Alternative Scenario A reversal back below the daily pivot (1.0155) will push the pair to find support at 1.0121.

USDJPY H4
Resistance 118.78 119.07 119.56
Support 118.52 118.11 117.65
Primary Scenario The pair is trading near the previous top. If the pair achieves to eliminate the hurdle at 118.78, it will target the forthcoming resistance level at 119.07 and even higher at 119.56.
Alternative Scenario A plunge of USDJPY below the support at 118.52 will open the way down to 118.11.

AUDUSD H4
Resistance 0.7072 0.7121 0.7161
Support 0.6983 0.6942 0.6894
Primary Scenario AUDUSD is now poised to retest the hurdle at 0.7072. A break above this level will fuel the pair further towards the forthcoming resistance level at 0.7121 and then higher at 0.7161.
Alternative Scenario. Should the pair manages to break the daily pivot, the next support is seen at 0.6983.

 

Article by ForexTime

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