Home EURUSD, USDJPY, GBPUSD Pivot Points, TA – Apr. 20 2015
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EURUSD, USDJPY, GBPUSD Pivot Points, TA – Apr. 20 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_2004

EURUSD made a new monthly high near 1.08505 levels last week but has failed to follow through on this. Current price action is hovering nera the 1.0871 levels and failure to close higher will see a decline in the currency with a test of support to 1.0693 levels. If this support holds, price could then prepare for a bullish continuation to the upside. If the support fails to hold prices, we could see a bit of consolidation take place before price eventually breaks lower targeting 1.0635 and 1.059 levels.

USDJPY Daily Pivots

R3 120.068
R2 119.7
R1 119.392
Pivot 119.09
S1 118.771
S2 118.414
S3 118.035

USDJPYH4_2004

USDJPY has been very choppy near the 119.16 through 118.737 levels. However the downside target for the rising wedge/triangle pattern is not yet achieved as the minimum downside target comes at 118.5 levels. Due to the strong support between 118.9 and 118.73, we can expect this choppy sideways market to persist until price eventually breaks lower.

GBPUSD Daily Pivots

R3 1.5156
R2 1.5063
R1 1.4998
Pivot 1.4905
S1 1.4839
S2 1.4747
S3 1.4683

GBPUSDH1_2004

GBPUSD made a new monthly high near 1.504 levels and eased lower to trade near the support at 1.49427. We suspect a test at the lower support at 1.483 is due. This will see a break out from the rising price channel which could then potentially see a bearish break out from the price channel making the test to 1.483 critical. If the support holds, GBPUSD could potentially eye further gains, while a break below the support at 1.483 will see a decline lower to 1.4724.

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]