EURUSD indicates a hesitancy in that important area.

Posted On 08 Mar 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1045	1.1078	1.1130
Support	1.0959	1.0906	1.0873
Primary Scenario	EURUSD indicates a hesitancy in that important area above the daily pivot point at 1.0992. Any forceful attempt to penetrate the resistance level at 1.1045 will most likely accelerate the pair to test fresh grounds towards 1.1078 and even higher at 1.1130.
Alternative Scenario	A reversal back below the daily pivot will push the pair to find support at 1.0959.

	GBPUSD	H4
Resistance	1.4318	1.4375	1.4468
Support	1.4169	1.4076	1.4019
Primary Scenario	An upward rally led GBPUSD above the daily pivot (1.4225). If the pair manages to extend its momentum, it will climb towards the resistance levels at 1.4318 and further up to 1.4375.
Alternative Scenario	Alternatively, if the pair achieves to breach the daily pivot, it will lead the exchange rate down to 1.4169.

	USDCHF	H4
Resistance	0.9999	1.0047	1.0083
Support	0.9914	0.9878	0.9830
Primary Scenario	USDCHF is is now poised to retest the key support level at 0.9914. A break back below this level will open the way down to 0.9878 and then lower at 0.9830.
Alternative Scenario	A surge of the pair above the daily pivot would lift the exchange rate to hit the resistance level at 0.9999.

	USDJPY	H4
Resistance	113.24	113.60	114.23
Support	113.10	112.60	112.14
Primary Scenario	The pair is negotiating slightly above the upper level of the Kumo. A bounce up from current levels will fuel the pair to exceed the barrier at 113.24, targeting the forthcoming resistance levels at 113.60 and 114.23.
Alternative Scenario	On the other hand, a successful violation of the upper level of the cloud at 113.10 will pave the path lower, within the cloud, down to 112.60.

	AUDUSD	H4
Resistance	0.7502	0.7539	0.7594
Support	0.7411	0.7355	0.7319
Primary Scenario	AUDUSD edged up at 0.7483, before closing below the daily pivot at 0.7447. Further drop of the market will push prices lower, with immediate targets the support at 0.7411 and 0.7355.
Alternative Scenario	A higher thrust of the currency pair will surpass the daily pivot and the next resistance is seen at 0.7502.

The post EURUSD indicates a hesitancy in that important area. appeared first on FXTM Blog.

Source:: EURUSD indicates a hesitancy in that important area.

About the Author

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC. Our mission is to maximize the value our clients derive from their most precious commodity, "Time"! By offering advanced and innovative services, optimal customer care and perpetual devotion to our clients, we will ensure that their individual needs are always met as markets continue to evolve over time. Visit ForexTime to learn more www.forextime.com [space height="20"] [social type="facebook"]https://www.facebook.com/ForexTime[/social] [social type="twitter"]https://twitter.com/ItsForexTime[/social] [social type="google-plus"]https://plus.google.com/u/0/+ForextimeFXTM/posts[/social] [social type="youtube"]https://www.youtube.com/user/ItsForexTime[/social]