Home EUR/USD, USD/JPY, GBP/USD Pivot Points, TA – August 4
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EUR/USD, USD/JPY, GBP/USD Pivot Points, TA – August 4

EURUSD Daily Pivots

R3 1.1036
R2 1.1015
R1 1.0982
Pivot 1.096
S1 1.0927
S2 1.0906
S3 1.0873

 

EURUSDH4_0408

EURUSD (1.094): EURUSD is trading near the major support level zone of 1.095 through 1.0925 within the falling price channel. If this level holds, we could anticipate an upside break out from the price channel as the rally could test the resistance at 1.117 through 1.1135. To the downside, if support breaks, EURUSD could snap towards 1.082. Price action has been slow in the EURUSD for the past few weeks but we expect to see some kind of a range breakout in the near term.

 

USDJPY Daily Pivots

R3 124.662
R2 124.467
R1 124.252
Pivot 124.047
S1 123.831
S2 123.636
S3 123.421

 

USDJPYH4_0408

USDJPY (124): USDJPY has been trading sideways for the past few sessions and we notice the consolidation near 124 region of support/resistance. Price is still supported by the minor trend line and the bias remains to the upside until this trend line is broken. Technical levels include 125.6 to the upside while 123 is the lower level support that could be tested in the event price breaks the minor trend line.

 

GBPUSD Daily Pivots

R3 1.5711
R2 1.5678
R1 1.5632
Pivot 1.5599
S1 1.5553
S2 1.5519
S3 1.5474

 

GBPUSDH4_0408

GBPUSD (1.55): GBPUSD remains range bound within the upper resistance at 1.565 and the lower trend line of the rising price channel. To the downside major support near 1.551 through 1.5455 remains a strong level that could support the declines in the near term. To the upside, GBPUSD will have to break the upper resistance at 1.565 in order to aim for 1.579 level of resistance.

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]