Analysis and Opinion »

EURUSD is oscillating around the daily pivot.

FXTM UUIIFXBR
Share on StockTwits
Published on
www.forextime.com
EURUSD Technical Analysis EURUSD H4 Down Trend
Resistance 1.0616 1.0666 1.0715
Support 1.0518 1.0470 1.0419
Primary Scenario EURUSD is oscillating around the daily pivot (1.0568). A plunge of the market below the support level at 1.0518 will open the way down to 1.0470.
Alternative Scenario A higher thrust of the market will lift the exchange rate above the daily pivot towards the resistance level at 1.0616.

 

EURUSDH4

GBPUSD Technical Analysis GBPUSD H4 Up Trend
Resistance 1.4714 1.4755 1.4829
Support 1.4598 1.4524 1.4483
Primary Scenario The pair bottomed at 1.4565, before retracing above the daily pivot point at 1.4639. If GBPUSD manages to withhold the sellers’ pressure, it will climb towards the resistance level at 1.4714 and further up at 1.4755.
Alternative Scenario Alternatively, a drop of the pair below the daily pivot will push prices to find support at 1.4598.

 

 

 

 

GBPUSDH4

 

 

USDCHF Technical Analysis USDCHF H4 Down Trend
Resistance 0.9839 0.9902 0.9943
Support 0.9735 0.9695 0.9632
Primary Scenario USDCHF edged up at 0.9862, before closing below the daily pivot (0.9799). A deeper correction of the pair will most likely lead the market down to 0.9735 and then lower at 0.9695.
Alternative Scenario A decisive movement to the north will trigger the market to penetrate the daily pivot, with immediate target the hurdle at 0.9839.

 

USDCHFH4

USDJPY Technical Analysis USDJPY H4 Up Trend
Resistance 120.22 120.83 121.20
Support 119.63 119.33 118.90
Primary Scenario USDJPY has experienced strong resistance at 120.83 and returned down, close to the upper level of the Kumo. A persistent upward wave would generate strength for the market to exceed the obstacle at 120.22. The next resistance is seen at 120.83.
Alternative Scenario Should the pair achieve to enter the cloud, the next support is estimated at 119.33.

 

USDJPYH4

AUDUSD Technical Analysi AUDUSD H4 Down Trend
Resistance 0.7659 0.7731 0.7785
Support 0.7534 0.7480 0.7408
Primary Scenario The pair is trading slightly below the daily pivot point at 0.7605. If the pair manages to extend its downtrend, it will target the support levels at 0.7534 and 0.7480.
Alternative Scenario A surge of the market above the daily pivot will lead AUDUSD to retest the hurdle in line at 0.7659.

 

AUDUSDH4

The post EURUSD is oscillating around the daily pivot. appeared first on Forex Circles.

Share on StockTwits