GBPUSD hit a multi-year low.

January 18, 2016

Article by ForexTime

EURUSD H4
Resistance 1.0978 1.1045 1.1108
Support 1.0848 1.0786 1.0718
Primary Scenario EURUSD topped up at 1.0978, before closing below the daily pivot point at 1.0916. Further decline of the market will open the way down to 1.0848 and then lower at 1.0786.
Alternative Scenario An upward wave would lift the exchange rate above the daily pivot, with immediate target the resistance level at 1.0978.

GBPUSD H4
Resistance 1.4371 1.4487 1.4547
Support 1.4194 1.4134 1.4018
Primary Scenario The pair hit a multi-year low, after breaching the daily pivot point (1.4311), a key support level. Should the pair achieve to extend its downtrend, the next support is seen at 1.4194 and further down to 1.4134.
Alternative Scenario On the other hand, a correction course to the north will fuel the pair to exceed the daily pivot. Next resistance lies ahead at 1.4371. RSI oscillator supports this outlook.

USDCHF H4
Resistance 1.0059 1.0110 1.0162
Support 0.9957 0.9906 0.9855
Primary Scenario USDCHF is now poised to penetrate the barrier at 1.0059. If that happens, the pair will target the forthcoming resistance level at 1.0110 and even higher at 1.0162.
Alternative Scenario A comeback of the currency pair will lead the pair to find support at 1.0008 (daily pivot) and then lower at 0.9957.

USDJPY H4
Resistance 117.36 117.92 118.37
Support 116.98 116.50 116.16
Primary Scenario The USDJPY pair is following a downtrend. If the bears manage to take control of the bulls, the rate will eliminate the support at 116.98. The next support levels are estimated at 116.50 and 116.16.
Alternative Scenario Alternatively, if the pair manages to surpass the hurdle in line at 117.36, it will target the forthcoming resistance level within the cloud at 117.92.

AUDUSD H4
Resistance 0.6963 0.7070 0.7138
Support 0.6789 0.6720 0.6614
Primary Scenario AUDUSD is trading slightly below the daily pivot point at 0.6895. Any decisive movement to the south will push prices to find support at 0.6789 and further down to 0.6720.
Alternative Scenario. Should the pair achieve to cross the daily pivot, the next resistance is seen at 0.6963.

 

Article by ForexTime

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