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EURUSD is gyrating the daily pivot at 1.2370.
Posted On 10 Dec 2014
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| EURUSD | H4 | ||
| Resistance | 1.2449 | 1.2525 | 1.2604 |
| Support | 1.2293 | 1.2215 | 1.2138 |
| Primary Scenario | EURUSD is gyrating the daily pivot at 1.2370. Any forceful movement to the north, will lead the pair towards the resistance level at 1.2449 and then higher at 1.2525. | ||
| Alternative Scenario | A plunge of the marker below the daily pivot, will open the way down to the support level at 1.2293. | ||
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GBPUSD | H4 | |
| Resistance | 1.5712 | 1.5759 | 1.5803 |
| Support | 1.5622 | 1.5578 | 1.5531 |
| Primary Scenario | The pair is oscillating around the daily pivot (1.5669). A decisive movement upwards will push prices to reach the hurdle at 1.5712. The next resistance is seen at 1.5759. | ||
| Alternative Scenario | Should GBPUSD achieve to breach the daily pivot, it will lead the pair to find support at 1.5622. | ||
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USDCHF | H4 |  |
| Resistance | 0.9775 | 0.9838 | 0.9899 |
| Support | 0.9651 | 0.9590 | 0.9527 |
| Primary Scenario | USDCHF is trading narrowly below the daily pivot. Any purposeful movement to the south, will push the pair to retest the support level at 0.9651 and further down to 0.9590. | ||
| Alternative Scenario | A higher thrust of the market, will lead the currency rate above the daily pivot, targeting the resistance at 0.9775. | ||
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USDJPY | H4 | |
| Resistance | 119.45 | 119.91 | 120.49 |
| Support | 118.67 | 118.31 | 117.94 |
| Primary Scenario | USDJPY is negotiating close to the upper level of the cloud. If the pair manages to withstand the sellers’ pressure, it will climb towards the next target at 119.45. Further increase of the market, will target the forthcoming resistance at 119.91. | ||
| Alternative Scenario | A fruitless attempt to move higher, will push the pair to enter within the cloud to find support at 118.67. | ||
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AUDUSD | H4 | |
| Resistance | 0.8366 | 0.8442 | 0.8514 |
| Support | 0.8219 | 0.8147 | 0.8072 |
| Primary Scenario | A persistent move led the AUDUSD pair to penetrate the daily pivot at 0.8295. A sustained trading above this level, will trigger the market to hit the resistance level at 0.8366 and even higher at 0.8442. | ||
| Alternative Scenario | A comeback of the pair, will lead prices below the daily pivot, to find support at 0.8219. | ||
The post EURUSD is gyrating the daily pivot at 1.2370. appeared first on Forex Circles.
