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Bulls and bears battle.
Posted On 22 Dec 2014
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| EURUSD | H4 | ||
| Resistance | 1.2279 | 1.2331 | 1.2360 |
| Support | 1.2197 | 1.2167 | 1.2115 |
| Primary Scenario | EURUSD is trading on the daily pivot at 1.2249. If the pair successfully continue its correction, it will climb towards the resistance level at 1.2279 and then higher at 1.2331. | ||
| Alternative Scenario | A fruitless attempt to move higher, it will push prices below the daily pivot zone to find support at 1.2197. | ||
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GBPUSD | H4 | |
| Resistance | 1.5668 | 1.5713 | 1.5745 |
| Support | 1.5591 | 1.5559 | 1.5514 |
| Primary Scenario | The pair is oscillating around the daily pivot (1.5636). A decisive movement to the north, will lead GBPUSD to penetrate the hurdle at 1.5668. The next resistance is seen at 1.5713. | ||
| Alternative Scenario | A plunge of the market below the daily pivot, will open the way down to the forthcoming support at 1.5591. | ||
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USDCHF | H4 |  |
| Resistance | 0.9859 | 0.9883 | 0.9921 |
| Support | 0.9798 | 0.9760 | 0.9737 |
| Primary Scenario | USDCHF has just breached the daily pivot at 0.9821. Further drop of the market, will extend the correction of the pair towards the next support at 0.9798 and even lower at 0.9760. | ||
| Alternative Scenario | An upward wave, would act as a catalyst for the pair, to push the market above the daily pivot, to continue its major trend, and further up at 0.9859. | ||
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USDJPY | H4 | |
| Resistance | 119.64 | 120.10 | 120.75 |
| Support | 119.23 | 118.69 | 118.25 |
| Primary Scenario | Bulls are still fighting with the bears. Should the pair manage to exceed the upper level of the cloud (119.64), it will target the resistance at 120.10. If that happens, a new bullish outlook will be in effect. | ||
| Alternative Scenario | On the other hand, a reversal back of USDJPY shall bring the rate lower to find support at 119.23 and further down to 118.69. | ||
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AUDUSD | H4 | |
| Resistance | 0.8175 | 0.8218 | 0.8245 |
| Support | 0.8105 | 0.8078 | 0.8035 |
| Primary Scenario | The pair is now poised to retest the resistance level at 0.8175. A successful penetration of this barrier, will trigger the market to target the resistance at 0.8218. | ||
| Alternative Scenario | Alternatively, a setback of AUDUSD will lead the exchange rate below the daily pivot and even lower at 0.8105. | ||
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