EURUSD Daily Pivots
| R3 | 1.1066 |
| R2 | 1.1028 |
| R1 | 1.0973 |
| Pivot | 1.0936 |
| S1 | 1.0881 |
| S2 | 1.0842 |
| S3 | 1.0789 |
EURUSD (1.09): EURUSD closed on a bearish note yesterday and a follow through today could see further downside in store as the daily chart’s head and shoulders pattern remain in play. Price declined strongly after breaking out from the rising median line near 1.0928 and is currently trading near the support/resistance level of 1.095 – 1.0932. Establishing resistance here could see a confirmation for a move lower to the next main support and the neckline at 1.0815 – 1.08. Only a convincing break of support at this level will signal further move to the downside, towards the eventual target to 1.06320. The Stochastics is however currently pointing to a potential correction to the upside and could put the 1.095 – 1.0932 level in focus.
USDJPY Daily Pivots
| R3 | 120.829 |
| R2 | 120.669 |
| R1 | 120.559 |
| Pivot | 120.399 |
| S1 | 120.289 |
| S2 | 120.129 |
| S3 | 120.016 |
USDJPY (120.4): USDJPY closed on a modestly bullish note yesterday marking a second day of soft gains. Prices could continue to push higher towards 121.2 level to establish resistance ahead of further declines. On the 4-hour chart, we notice a modest break out from the falling price channel after USDJPY touched a low near 120.10. As long as this low is not breached, 120.815 level to the upside remains in focus which could give way to a further move towards 121.4 – 121.2 region.
GBPUSD Daily Pivots
| R3 | 1.5019 |
| R2 | 1.4966 |
| R1 | 1.4891 |
| Pivot | 1.4838 |
| S1 | 1.4764 |
| S2 | 1.4710 |
| S3 | 1.4635 |
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