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EURUSD is negotiating above the daily pivot point at 1.1404.
Posted On 16 Feb 2015
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| EURUSD | H4 | ||
| Resistance | 1.1429 | 1.1466 | 1.1491 |
| Support | 1.1366 | 1.1341 | 1.1304 |
| Primary Scenario | EURUSD is negotiating above the daily pivot point at 1.1404. An impulsive movement to the north, will lead the pair to penetrate the hurdle at 1.1429, with immediate target the resistance level at 1.1466. | ||
| Alternative Scenario | Should the pair manage to breach the daily pivot, it will open the way down to the support level at 1.1366. | ||
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GBPUSD | H4 | |
| Resistance | 1.5419 | 1.5446 | 1.5470 |
| Support | 1.5368 | 1.5344 | 1.5317 |
| Primary Scenario | The pair is poised to test the hurdle at 1.5446. A successful attempt to exceed this level, will most likely lead the exchange rate towards the next target at 1.5470. | ||
| Alternative Scenario | A comeback of the currency pair will push GBPUSD to violate the support level at 1.5419. The next support is seen at the daily pivot point (1.5395). RSI oscillator supports this outlook. | ||
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USDCHF | H4 |  |
| Resistance | 0.9339 | 0.9370 | 0.9406 |
| Support | 0.9273 | 0.9237 | 0.9207 |
| Primary Scenario | USDCHF is gyrating the daily pivot at 0.9304. If the pair achieves to extend its correction course, it will fall further down to 0.9273 and then lower at 0.9237. | ||
| Alternative Scenario | Alternatively, a higher thrust of the market to surpass the daily pivot will trigger the market to retest the resistance level at 0.9339. | ||
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USDJPY | H4 | |
| Resistance | 118.76 | 119.42 | 120.47 |
| Support | 118.36 | 118.03 | 117.35 |
| Primary Scenario | The USDJPY pair is now testing the upper level of the cloud. A bounce up from current levels will fuel the pair to penetrate the hurdle at 118.76. The next resistance is estimated at 119.42. | ||
| Alternative Scenario | On the other hand, a plunge of the pair will lead the market within the Kumo to find support at 118.03. | ||
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AUDUSD | H4 | |
| Resistance | 0.7789 | 0.7824 | 0.7857 |
| Support | 0.7721 | 0.7688 | 0.7653 |
| Primary Scenario | AUDUSD is now testing the key resistance at 0.7789. A fruitful attempt to eliminate this level, will generate strength for the pair to target the forthcoming resistance at 0.7824. | ||
| Alternative Scenario | A setback of the market will push prices to find support at 0.7756. | ||
The post EURUSD is negotiating above the daily pivot point at 1.1404. appeared first on Forex Circles.
Source:: EURUSD is negotiating above the daily pivot point at 1.1404.
