EURUSD: The trading range is limited to 1.0851 and 1.0950.

Posted On 21 Jan 2016

Tag: AUDUSD, EURUSD, GBPUSD, USDCHF, USDJPY

	EURUSD	H4
Resistance	1.0950	1.1012	1.1048
Support	1.0851	1.0814	1.0753
Primary Scenario	The trading range is limited to 1.0851 and 1.0950. If EURUSD manages to breach the key support level at 1.0851, it will break the sideways move implying bearish outlook. The next support is seen at 1.0814.
Alternative Scenario	A higher thrust of the market above the daily pivot at 1.0913 will lift the exchange rate at 1.0950.

	GBPUSD	H4
Resistance	1.4228	1.4270	1.4322
Support	1.4135	1.4082	1.4041
Primary Scenario	The pair bottomed at 1.4135, before closing above the daily pivot point (1.4176). Should the pair achieves to extend its momentum, it will climb towards the resistance level at 1.4228 and further up to 1.4270.
Alternative Scenario	Alternatively, a break back below the daily pivot will lead the pair to retest the bottom at 1.4135.

	USDCHF	H4
Resistance	1.0065	1.0094	1.0132
Support	0.9998	0.9960	0.9931
Primary Scenario	USDCHF is gyrating the daily pivot at 1.0027. A successful attempt to penetrate the hurdle in line at 1.0065 will trigger the market towards the forthcoming levels at 1.0094 and 1.0132.
Alternative Scenario	A tumble of the currency pair below the daily pivot will pave the path down to 0.9998.

	USDJPY	H4
Resistance	117.02	117.40	117.79
Support	116.65	115.96	115.32
Primary Scenario	The pair is now testing the support level at 116.65. If the bears manage to take control of the bulls, the next support is estimated at 115.96 and even lower at 115.32.
Alternative Scenario	On the other hand, an upward wave would accelerate the rate to exceed the hurdle at 117.02, with immediate target the resistance at 117.40.

	AUDUSD	H4
Resistance	0.6943	0.6982	0.7040
Support	0.6846	0.6788	0.6749
Primary Scenario	AUDUSD is negotiating narrowly above the daily pivot at 0.6885. A bounce up from current levels will generate strength for the pair to target the resistance level at 0.6943 and even higher at 0.6982.
Alternative Scenario.	A plunge of the pair below the daily pivot will open the way down to 0.6846.

The post EURUSD: The trading range is limited to 1.0851 and 1.0950. appeared first on FXTM Blog.

Source:: EURUSD: The trading range is limited to 1.0851 and 1.0950.

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