Previous Story
EURUSD has met a fresh low at 1.2096.
Posted On 02 Jan 2015
Comment: 0
| EURUSD | H4 | ||
| Resistance | 1.2187 | 1.2218 | 1.2251 |
| Support | 1.2124 | 1.2091 | 1.2060 |
| Primary Scenario | EURUSD has met a fresh low at 1.2096. If the pair manages to extend its downtrend, it will breach the support at 1.2091, targeting the forthcoming level at 1.2060. | ||
| Alternative Scenario | On the other hand, a bounce up from current levels will bring the market to a correction phase up to the resistance level at 1.2124. RSI is at 28, trading within an oversold territory. | ||
 |
GBPUSD | H4 |  |
| Resistance | 1.5588 | 1.5617 | 1.5661 |
| Support | 1.5515 | 1.5471 | 1.5443 |
| Primary Scenario | The pair tested the resistance at 1.5617,before retracing below the support at 1.5588. A successful penetration of this level will trigger the market to retest the resistance at 1.5617 and further up at 1.5661. | ||
| Alternative Scenario | A plunge of the market will push prices to find support at 1.5544. | ||
 |
USDCHF | H4 | |
| Resistance | 0.9914 | 0.9942 | 0.9966 |
| Support | 0.9862 | 0.9839 | 0.9810 |
| Primary Scenario | USDCHF approached the key resistance at 0.9942. If the market achieves to withstand the sellers’ pressure, it will exceed this level, with immediate target the resistance level at 0.9966. | ||
| Alternative Scenario | A reversal back of the pair will lead the currency rate down to the support level at 0.9914. RSI oscillator supports this outlook. | ||
 |
USDJPY | H4 | |
| Resistance | 119.92 | 120.16 | 120.72 |
| Support | 119.36 | 118.85 | 118.25 |
| Primary Scenario | The USDJPY pair is negotiating slightly above the upper level of the Kumo. An upward wave would act as a catalyst for the market to surpass the hurdle at 119.92 and move higher towards the resistance level at 120.16. | ||
| Alternative Scenario | A setback of the rate, will most likely push the market within the cloud towards the support level at 119.36. | ||
 |
AUDUSD | H4 | |
| Resistance | 0.8215 | 0.8249 | 0.8297 |
| Support | 0.8134 | 0.8087 | 0.8053 |
| Primary Scenario | The pair is now testing the daily pivot point at 0.8168. A decisive movement to the north will fuel the pair to reach the resistance level at 0.8215 and then higher at 0.8249. | ||
| Alternative Scenario | A drop of AUDUSD below the daily pivot, will push the pair to find support at 0.8134. | ||
The post EURUSD has met a fresh low at 1.2096. appeared first on Forex Circles.
