EURUSD poised for decline.

Posted On 13 Jan 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.0894	1.0937	1.0975
Support	1.0814	1.0776	1.0733
Primary Scenario	EURUSD poised for decline. Any decisive breach of the important support at 1.0814 will push the exchange rate to find support at 1.0776.
Alternative Scenario	A surge of the market above the daily pivot will trigger the currency pair to hit the resistance at 1.0894.

	GBPUSD	H4
Resistance	1.4550	1.4659	1.4758
Support	1.4342	1.4242	1.4134
Primary Scenario	Having flirted with the previous bottom at 1.4342, GBPUSD closed above the daily pivot (1.4451). An extended correction of the market will lift the rate towards the resistance at 1.4550 and even higher at 1.4659.
Alternative Scenario	Alternatively, a plunge of the market below the daily pivot will lead the pair underway towards the support level at 1.4342.

	USDCHF	H4
Resistance	1.0054	1.0089	1.0133
Support	0.9974	0.9929	0.9894
Primary Scenario	USDCHF is now testing the hurdle at 1.0054. A successful penetration of this level will accelerate the pair to target the forthcoming resistance levels at 1.0089 and 1.0133.
Alternative Scenario	A reversal back will push prices to find support at the daily pivot point (1.0009).

	USDJPY	H4
Resistance	118.34	118.83	119.27
Support	118.03	117.62	117.17
Primary Scenario	The trend has been overall neutral this week. A fruitless attempt to exceed the barrier at 118.34 will lead USDJPY to violate the support at 118.03, with immediate target the next level at 117.62.
Alternative Scenario	On the other hand, a surpass of the hurdle at 118.34 would fuel the pair towards the next resistance at 118.83.

	AUDUSD	H4
Resistance	0.7021	0.7061	0.7102
Support	0.6940	0.6899	0.6859
Primary Scenario	AUDUSD has just crossed the hurdle at 0.7021 and intends to reach the forthcoming resistance level at 0.7061. If that happens, the next resistance is seen at 0.7102.
Alternative Scenario.	A break back below the now-support at 0.7021 will open the way down to the daily pivot at 0.6980.

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