EURUSD indicated bullish implications in the previous session.

April 20, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1393 1.1428 1.1474
Support 1.1312 1.1266 1.1231
Primary Scenario EURUSD indicated bullish implications in the previous session. If the pair manages to extend its momentum, it will climb towards the resistance level at 1.1393 and further up to 1.1428.
Alternative Scenario A comeback of the exchange rate below the daily pivot (1.1347) will open the way down to 1.1312.

GBPUSD H4
Resistance 1.4452 1.4509 1.4600
Support 1.4304 1.4212 1.4155
Primary Scenario The pair edged up at 1.4418, before retracing below the daily pivot at 1.4361. A deeper correction of the currency pair will push GBPUSD to find support at 1.4304 and then lower at 1.4212.
Alternative Scenario On the other hand, an upward wave above the daily pivot would lift the exchange rate to hit the hurdle at 1.4452.

USDCHF H4
Resistance 0.9649 0.9681 0.9714
Support 0.9584 0.9551 0.9518
Primary Scenario USDCHF is trading on the daily pivot point at 0.9616. A decisive movement to the south will push the pair to find support at 0.9584 and even lower at 0.9551.
Alternative Scenario Should the pair achieve to surpass the daily pivot, the next resistance is seen at 0.9649.

USDJPY H4
Resistance 109.11 109.49 110.11
Support 108.85 108.51 108.11
Primary Scenario The pair is still trading within the cloud. If the bears manage to take control of the bulls, USDJPY will eliminate the support at 108.82, with immediate target the forthcoming level at 108.51.
Alternative Scenario Alternatively, a higher thrust of the market will fuel the pair towards 109.11 and further up to 109.49.

AUDUSD H4
Resistance 0.7842 0.7874 0.7922
Support 0.7762 0.7714 0.7683
Primary Scenario AUDUSD is now following a correction course. If the pair achieves to breach the support at 0.7762, it will target the next support level at 0.7714.
Alternative Scenario A surge of the market above the daily pivot (0.7794) would trigger the exchange rate towards 0.7842.

 

Article by ForexTime

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