Category: Daily Look

EUR/USD, GBP/USD, USD/JPY Apr. 1 2015 – Technical Analysis, Pivot Points



EURUSD Daily Pivots

R3 1.0945
R2 1.0894
R1 1.0812
Pivot 1.0762
S1 1.068
S2 1.063
S3 1.0548

 EURUSDH1_0104 technical analysis pivot points for currency trading forex April 2015

EURUSD eventually reached the target of 1.07302 yesterday, the measured move from the break out of the rising wedge pattern. Price has now formed a falling price channel and looks to be currently testing the upper end of the channel. A test towards 1.0806 is evident and if successful as resistance, we could see further declines in the near term towards the target of 1.06344. However, should price break out of the falling channel and test back to the support at 1.07302, the view could shift to bullish upon break of the resistance at 1.0806

USDJPY Daily Pivots

R3 120.992
R2 120.678
R1 120.406
Pivot 120.092
S1 119.820
S2 119.5
S3 119.227

USDJPYH4_0104 technical analysis pivot points for currency trading forex April 2015

USDJPY has found resistance near the previous break out level at 120.16 and is currently pushing lower. We expect that USDJPY could weaken further and test the lows of 118.414. In the event price does break out from the falling price channel, USDJPY could in fact turn bullish and confirm the same on break out above 120.16. To the upside, there is a lot of resistance at different levels and this could slow down the bullish momentum in the currency.

GBPUSD Daily Pivots

R3 1.4988
R2 1.493
R1 1.4872
Pivot 1.4813
S1 1.4756
S2 1.4697
S3 1.4641

GBPUSDH4_0104 technical analysis pivot points for currency trading forex April 2015

GBPUSD briefly broke the support at 1.482 and is now back above this level, which indicates that price action could again see some sessions of ranging movements with resistance at 1.495 coming into play yet again. With price strongly ranging sideways, the best option would be to leave GBPUSD lone until a break out in either direction is first confirmed.

Markets await US consumer confidence

Markets await US consumer confidence

The dollar is just about regaining the upper hand and certainly in the case of the Aussie, AUDUSD has retraced all the way back from above 0.7900 just a week ago to 0.7630 at the time of writing, not all that far off testing a near six year low. Downward pressure on the Aussie is

Greece awaits EU’s consent

Greece awaits EU’s consent

A shortened week but despite it being Good Friday this week with most markets closed for a long holiday week end (apart from FX which remain open), the US nonfarm payroll figures are still due to be released. Ahead of then pressure continues to grow on Greece to submit a meaningful plan for economic reform

EURUSD, GBPUSD, USDJPY Pivot Points, TA – Mar. 30 2015

EURUSD, GBPUSD, USDJPY Pivot Points, TA – Mar. 30 2015

EURUSD Daily Pivots R3 1.1110 R2 1.1029 R1 1.0963 Pivot 1.0881 S1 1.0815 S2 1.0733 S3 1.0667   EURUSD is currently testing the lower trend line of the price channel and looks very likely to break this trend line. If successful, it would test all the way to the lows of 1.0632 levels on break

Eurozone uncertainty thwarts gains in currency

Eurozone uncertainty thwarts gains in currency

Sterling came under pressure this week following news that inflation posted flat year-over-year in February, the worst result on record. Driven by sliding oil prices, the Consumer Price Index (CPI) in the UK has flat lined as food and motor costs contracted. The CPI number helped reinforce the idea that interest rates in the Britain

Of Mice and Yemen

Of Mice and Yemen

“War”, the satirist Ambrose Bierce once said, “is God’s way of teaching Americans geography”. The average investor certainly knows a little more about Yemen today, after yesterday’s Saudi-led airstrikes on targets across the failed state sent global shares down, and oil prices up almost six percent. Markets remain unsettled this morning, with the prospect of

This week in the markets: Pound drops on zero inflation rate

This week in the markets: Pound drops on zero inflation rate

The dollar started the week on the back foot, with investors continuing to sell after last week’s dovish statement from the Federal Reserve. EUR/USD quickly pushed through both 1.08 and 1.09 on Monday as the markets pushed back the estimated date of the Fed’s first rate hike. The euro found further support from a better

Markets await US GDP

Markets await US GDP

Yesterday was a strong indicator of the changing dynamic in FX markets, in that we saw the dollar weaker even when stocks were on the back-foot and political tensions in the Middle East were escalating. We moved away from the “risk-on/risk-off” world seen in the wake of the global financial crisis and the dollar was

Dollar on defensive

Dollar on defensive

The dollar is on the defensive in the early part of the European session. This is most noticeable on USDJPY, which is now below the 118.50 level. The price action is not more indicative of a dollar correction after the volatility seen in the wake of the Fed decision, rather than a pause in the

EURUSD, GBPUSD, USDJPY Pivot Points, TA – Mar. 25 2015

EURUSD, GBPUSD, USDJPY Pivot Points, TA – Mar. 25 2015

EURUSD Daily Pivots R3 1.114 R2 1.1084 R1 1.1001 Pivot 1.0945 S1 1.0862 S2 1.0806 S3 1.0723   EURUSD broke out from what looks like a still forming triangle consolidation pattern. If the daily pivot level, manages to hold the rallies, then on break of 1.089 we could expect to see further declines on the