EURUSD: Opening with a gap.

Posted On 29 Jun 2015

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.1210	1.1259	1.1300
Support	1.1120	1.1080	1.1031
Primary Scenario	EURUSD has opened with a huge gap in the today’ s session. Further pressure of the market will lead the pair to face the support level at 1.0953 and further down to 1.0886.
Alternative Scenario	Should the pair manage to surpass the resistance at 1.1031, the next target is seen at 1.1080. RSI oscillator support this scenario.

	GBPUSD	H4
Resistance	1.5767	1.5795	1.5825
Support	1.5709	1.5679	1.5651
Primary Scenario	The pair is now testing the support level at 1.5709. A break back below this level will most likely push prices to find support at 1.5679 and even lower at 1.5651.
Alternative Scenario	A bounce up from current levels will trigger the market to climb towards the daily pivot (1.5737) and the resistance level at 1.5767.

	USDCHF	H4
Resistance	0.9361	0.9403	0.9434
Support	0.9287	0.9256	0.9214
Primary Scenario	USDCHF intends to retest and penetrate the hurdle at 0.9403. If that happens, the next resistance is seen at 0.9434.
Alternative Scenario	A plunge of the exchange rate will eliminate the support at 0.9361, targeting the daily pivot point at 0.9330.

	USDJPY	H4
Resistance	122.94	123.20	123.45
Support	122.09	121.47	120.96
Primary Scenario	A new bearish outlook is now in force. If the pair manages to extend its down bearish momentum, it will find support at 122.09. The next support is estimated at 121.47.
Alternative Scenario	Alternatively, a higher thrust of the USDJPY will lift the pair to target the resistance levels at 122.94 and 123.20.

	AUDUSD	H4
Resistance	0.7718	0.7783	0.7827
Support	0.7608	0.7564	0.7499
Primary Scenario	AUDUSD is negotiating below the daily pivot (0.7673). A decisive movement to the south will lead the pair to violate the support level at 0.7608, opening the way down to 0.7564.
Alternative Scenario	A surge of the currency pair above the daily pivot will fuel the pair further towards the resistance level at 0.7718.

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Source:: EURUSD: Opening with a gap.

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