EURUSD fueled in the previous session.

Posted On 04 Mar 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1000	1.1045	1.1119
Support	1.0881	1.0807	1.0762
Primary Scenario	EURUSD fueled in the previous session. A sustained trading above the daily pivot at 1.0926 will lead the exchange rate to target the forthcoming resistance level at 1.1000 and even higher at 1.1045.
Alternative Scenario	A reversal back below the daily pivot would pave the path down to 1.0881.

	GBPUSD	H4
Resistance	1.4233	1.4294	1.4395
Support	1.4072	1.3971	1.3911
Primary Scenario	The pair has surpassed the daily pivot (1.4133) and indicated bullish implications. If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance level at 1.4233 and further up to 1.4294.
Alternative Scenario	Alternatively, a correction course of the market will push GBPUSD below the daily pivot, with immediate target the support at 1.4072.

	USDCHF	H4
Resistance	0.9969	1.0021	1.0060
Support	0.9879	0.9840	0.9788
Primary Scenario	USDCHF has experienced strong resistance at the daily pivot point (0.9930). A decisive movement to the south will most likely lead the pair to hit the support at 0.9879 and then lower at 0.9840.
Alternative Scenario	An upward wave would lift the exchange rate above the daily pivot and further down to 0.9969.

	USDJPY	H4
Resistance	113.87	114.26	114.55
Support	113.72	113.27	112.90
Primary Scenario	The USDJPY pair is still trading above the Kumo. Should the pair achieve to eliminate the barrier at 113.87, the next resistance is estimated at 114.26 and even higher at 114.55.
Alternative Scenario	On the other hand, a setback of the currency pair below the support at 113.72 will open the way down to 113.27.

	AUDUSD	H4
Resistance	0.7389	0.7427	0.7481
Support	0.7296	0.7242	0.7204
Primary Scenario	AUDUSD has reached a multi-month high in today’s session. A higher thrust of the pair would accelerate the rate to hit the forthcoming resistance level at 0.7389 and then higher at 0.7427.
Alternative Scenario	A reversal back below the daily pivot (0.7335) will target the support level at 0.7296. RSI oscillator supports this outlook.

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Source:: EURUSD fueled in the previous session.

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