EURUSD is trading above the daily pivot point at 1.0854.

Posted On 14 Jan 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.0905	1.0938	1.0988
Support	1.0821	1.0771	1.0738
Primary Scenario	EURUSD is trading above the daily pivot point at 1.0854. If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance level at 1.0905 and then higher at 1.0938.
Alternative Scenario	A comeback of the market woud lead the currency pair below the daily pivot, with immediate target the support level at 1.0821.

	GBPUSD	H4
Resistance	1.4459	1.4515	1.4555
Support	1.4363	1.4323	1.4267
Primary Scenario	The pair is following a downtrend. If GBPUSD achieves to extend its momentum, the next support is seen at 1.4363 and even lower at 1.4323.
Alternative Scenario	On the other hand, a successful attempt to exceed the daily pivot (1.4419) would lift the exchange rate towards the resistance at 1.4459.

	USDCHF	H4
Resistance	1.0099	1.0146	1.0186
Support	1.0012	0.9972	0.9925
Primary Scenario	USDCHF intends to retest the hurdle in line at 1.0099. Should the pair achieve to surpass this level, it will target the forthcoming resistance at 1.0146.
Alternative Scenario	A setback of the currency pair will push prices to find support at the daily pivot at 1.0059 and further down to 1.0012.

	USDJPY	H4
Resistance	118.14	118.63	118.88
Support	117.39	117.13	116.64
Primary Scenario	The pair is gyrating the daily pivot at 117.88. A decisive movement to the north will trigger the market to hit the resistance at 118.14 and even higher at 118.63.
Alternative Scenario	Alternatively, a plunge of the market below the daily pivot will pave the path down to 117.39.

	AUDUSD	H4
Resistance	0.7018	0.7082	0.7116
Support	0.6919	0.6885	0.6821
Primary Scenario	AUDUSD has retested the key support at 0.6919. If the pair achieves to violate this level, the next support is seen at 0.6885 and then lower at 0.6821.
Alternative Scenario.	An upward wave will fuel the pair to penetrate the daily pivot (0.6983), opening the way towards the resistance at 0.7018.

The post EURUSD is trading above the daily pivot point at 1.0854. appeared first on FXTM Blog.

Source:: EURUSD is trading above the daily pivot point at 1.0854.

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