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GBPUSD: A key support has been breached (1.5885).
Posted On 07 Nov 2014
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EURUSD | H4 | ||
Resistance | 1.2482 | 1.2591 | 1.2651 |
Support | 1.2314 | 1.2255 | 1.2146 |
Primary Scenario | EURUSD collapsed yesterday and breached the daily pivot at 1.2423. A further drop of the pair will lead prices to find support at 1.2314 and then later at 1.2255. RSI oscillator is trading within an oversold area. | ||
Alternative Scenario | An upward wave, would generate strength for the market to surpass the daily pivot and reach the resistance level at 1.2482. |
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