EURUSD indicated bullish implications in the previous session.

Posted On 20 Apr 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1393	1.1428	1.1474
Support	1.1312	1.1266	1.1231
Primary Scenario	EURUSD indicated bullish implications in the previous session. If the pair manages to extend its momentum, it will climb towards the resistance level at 1.1393 and further up to 1.1428.
Alternative Scenario	A comeback of the exchange rate below the daily pivot (1.1347) will open the way down to 1.1312.

	GBPUSD	H4
Resistance	1.4452	1.4509	1.4600
Support	1.4304	1.4212	1.4155
Primary Scenario	The pair edged up at 1.4418, before retracing below the daily pivot at 1.4361. A deeper correction of the currency pair will push GBPUSD to find support at 1.4304 and then lower at 1.4212.
Alternative Scenario	On the other hand, an upward wave above the daily pivot would lift the exchange rate to hit the hurdle at 1.4452.

	USDCHF	H4
Resistance	0.9649	0.9681	0.9714
Support	0.9584	0.9551	0.9518
Primary Scenario	USDCHF is trading on the daily pivot point at 0.9616. A decisive movement to the south will push the pair to find support at 0.9584 and even lower at 0.9551.
Alternative Scenario	Should the pair achieve to surpass the daily pivot, the next resistance is seen at 0.9649.

	USDJPY	H4
Resistance	109.11	109.49	110.11
Support	108.85	108.51	108.11
Primary Scenario	The pair is still trading within the cloud. If the bears manage to take control of the bulls, USDJPY will eliminate the support at 108.82, with immediate target the forthcoming level at 108.51.
Alternative Scenario	Alternatively, a higher thrust of the market will fuel the pair towards 109.11 and further up to 109.49.

	AUDUSD	H4
Resistance	0.7842	0.7874	0.7922
Support	0.7762	0.7714	0.7683
Primary Scenario	AUDUSD is now following a correction course. If the pair achieves to breach the support at 0.7762, it will target the next support level at 0.7714.
Alternative Scenario	A surge of the market above the daily pivot (0.7794) would trigger the exchange rate towards 0.7842.

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Source:: EURUSD indicated bullish implications in the previous session.

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