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EURUSD turned back sharply in the previous session.

Article by ForexTime

EURUSD Technical Analysis EURUSD H4 Down Trend
Resistance 1.1313 1.1385 1.1421
Support 1.1206 1.1169 1.1098
Primary Scenario EURUSD turned back sharply in the previous session. Further drop of the market will push the pair to retest the key support at 1.1206 and even lower at 1.1169.
Alternative Scenario A surge of the exchange rate above the daily pivot (1.1277) will lift the currency pair towards 1.1313.

EURUSDH4

GBPUSD Technical Analysis GBPUSD H4 up-trend
Resistance 1.4747 1.4847 1.4913
Support 1.4580 1.4515 1.4414
Primary Scenario The pair is gyrating the daily pivot point at 1.4681. A decisive movement to the north will most likely lead GBPUSD to retest the hurdle in line at 1.4747. A successful penetration of this level will pave the path towards 1.4847.
Alternative Scenario Alternatively, a reversal back below the daily pivot will push prices to hit the support at 1.4580.

GBPUSDH4

USDCHF Technical Analysis USDCHF H4 up-trend
Resistance 0.9638 0.9656 0.9689
Support 0.9586 0.9553 0.9534
Primary Scenario USDCHF is oscillating around the daily pivot point at 0.9604. If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance levels at 0.9638 and 0.9656.
Alternative Scenario A comeback of the market below the daily pivot will open the way down to 0.9586.

USDCHFH4

USDJPY Technical Analysis USDJPY H4 Down Trend
Resistance 104.61 105.04 105.75
Support 104.33 103.55 103.02
Primary Scenario  The trend has been overall neutral between 103.55 and 105.04. Any forceful attempt to violate the support at 104.33 will target the previous low at 103.55
Alternative Scenario On the other hand, an upward wave would fuel the pair above the barrier at 104.61, targeting the resistance at 105.04.

USDJPYH4

AUDUSD Technical Analysi AUDUSD H4 Down Trend
Resistance 0.7492 0.7535 0.7558
Support 0.7425 0.7402 0.7359
Primary Scenario AUDUSD edged up at 0.7478, before retracing below the daily pivot (0.7468). A deeper correction of the market will lead the pair to find support at 0.7425 and further down to 0.7402.
Alternative Scenario A higher thrust of the market above the daily pivot will push the exchange rate towards 0.7492.

AUDUSDH4

 


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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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