Home EURUSD, GBPUSD, USDJPY Pivot Points, TA – Apr. 17 2015
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EURUSD, GBPUSD, USDJPY Pivot Points, TA – Apr. 17 2015

EURUSD Daily Pivots

R3 1.1036
R2 1.0927
R1 1.0843
Pivot 1.0733
S1 1.065
S2 1.0539
S3 1.0457

 EURUSDH1_1704

EURUSD made a fresh weekly high towards 1.08 levels late yesterday. This price action is indicative of a possible correction to the downside, with the first test coming in at support at 1.0693, which was only briefly tested. From there on, price could turn a bit tricky as the bias could quickly change, albeit price still remaining in the upward price channel. A break above the recent high is required to see further upside continuation, but we suspect this to happen only after a test to support.

USDJPY Daily Pivots

R3 120.067
R2 119.771
R1 119.392
Pivot 119.09
S1 118.771
S2 118.414
S3 118.035

USDJPYH4_1704

USDJPY has been constantly been rejected near the support zone at 118.9 levels and 118.737. A break below this will see a test to 118.5. Price action is currently consolidating near this support level and could seem hard to break down below. Nonetheless, the entire price region fro 119.045 through 118.5 looks hard to break and price could at the very least range before establishing direction.

GBPUSD Daily Pivots

R3 1.5156
R2 1.5063
R1 1.4998
Pivot 1.4905
S1 1.4839
S2 1.47477
S3 1.4683

GBPUSDH1_1704

GBPUSD rally saw a test of 1.495 highs. Price has been consolidating at this level for a few candles. We notice a missed test of support at 1.48 levels, which is where price could eventually head to. A break of the recent highs at 1.495, if it happens could be viewed as a weak rally and could make way for an eventual decline. The test to 1.48 could also mean a breakout from the rising price channel, which could potentially put GBPUSD back into bear territory.

John Benjamin

John Benjamin

John is a market analyst for Orbex Ltd. and is a forex and equities trader having been involved in trading since late 2009. John makes use of a mix of technical and fundamental analysis and inter-market relationships. The analysis present here is a mix of intra-day analysis while considering the long term outlook of the markets as well. For any comments or questions, John can be reached at [email protected]