EURUSD bounced up from the previous low.

Posted On 30 Oct 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1013	1.1041	1.1096
Support	1.0930	1.0874	1.0847
Primary Scenario	EURUSD bounced up from the previous low and is now trading above the daily pivot at 1.0958. Further correction of the market will lead the exchange rate to climb towards the resistance levels at 1.1013 and then higher at 1.1041.
Alternative Scenario	A setback of the currency pair below the daily pivot will open the way down to 1.0930.

	GBPUSD	H4
Resistance	1.5341	1.5370	1.5420
Support	1.5261	1.5212	1.5182
Primary Scenario	The pair is now poised to surpass the hurdle at 1.5341. If that happens, the next resistance is seen at 1.5370.
Alternative Scenario	Alternatively, a plunge of GBPUSD below the daily pivot (1.5291) will push prices down to 1.5261.

	USDCHF	H4
Resistance	0.9934	0.9979	1.0004
Support	0.9865	0.9839	0.9795
Primary Scenario	USDCHF topped up at 0.9956, before retracing below the daily pivot at 0.9909. A deeper correction of the market will lead the pair underway towards the support level at 0.9865 and then lower at 0.9839.
Alternative Scenario	An upward wave would lift the exchange rate above the daily pivot and even higher at 0.9934.

	USDJPY	H4
Resistance	121.19	121.47	121.75
Support	120.82	120.27	119.77
Primary Scenario	The pair is pivoting above the Kumo. Any decisive movement to the north will generate strength for the market to eliminate the barrier at 121.19 and further up to 121.47. Further increase of the rate will fuel USDJPY towards the resistance level at 121.75.
Alternative Scenario	On the other hand, should the pair manage to breach the support level at 120.82, the next target is estimated within the cloud at 120.27.

	AUDUSD	H4
Resistance	0.7109	0.7140	0.7161
Support	0.7057	0.7036	0.7005
Primary Scenario	AUDUSD has retested the hurdle in line at 0.7109. A successful penetration of this level will most likely trigger the market towards the resistance levels at 0.7140 and 0.7161.
Alternative Scenario.	A break back below the daily pivot (0.7088) will push the pair to find support at 0.7057.

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Source:: EURUSD bounced up from the previous low.

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