EURUSD Daily Pivots R3 1.2744 R2 1.267 R1 1.2705 Pivot 1.2659 S1 1.2621 S2 1.2574 S3 1.2536 Boosted by Draghi’s inaction, EURUSD rallied only to be capped at 1.26832 as noted in yesterday’s analysis. With today’s all important NFP numbers due, EURUSD is at a pivotal point of moving either way. A drop lower could see a test of the trend line for a rally back towards 1.26832, while a break of this resistance level could give way for more upside gains towards 1.2745. From the daily time frame, yesterday marked the third consecutive day of a higher lower bring made, after an inside bar was printed the day before, which puts the bias towards an upside price action today. USDJPY Daily Pivots R3 110.128 R2 190.624 R1 109.02 Pivot 108.516 S1 107.912 S2 107.408 S3 106.804 USDJPY hit the resistance of 108.935 earlier today after bouncing off the trend line yesterday. A test of this previously known support/resistance level, if it holds could see a drop to the next support level which marks today’s pivot price of 108.5. Current price action on the H1 charts near the resistance level of 108.935 shows a bearish candlestick followed by a doji. GBPUSD Daily Pivots R3 1.6363 R2 1.6306 R1 1.6225 Pivot 1.6169 S1 1.6088 S2 1.6031 S3 1.595 As the Cable broke the support of 1.6171, a successful retest for resistance could see more declines on the horizon with a lower target to 1.607, which forms a major support level from higher time frames. A break lower could put to question any possible motives of a bull run resuming and could point to further downside targets. The likely catalyst for breaking the resistances could be only if the NFP was weaker than expected today, which could breathe some life back into GBPUSD. 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] View All Post By John Benjamin Forex News Today: Daily Trading News share Read Next Dollar Takes A Breath FxPro - Forex Broker 7 years EURUSD Daily Pivots R3 1.2744 R2 1.267 R1 1.2705 Pivot 1.2659 S1 1.2621 S2 1.2574 S3 1.2536 Boosted by Draghi's inaction, EURUSD rallied only to be capped at 1.26832 as noted in yesterday's analysis. With today's all important NFP numbers due, EURUSD is at a pivotal point of moving either way. A drop lower could see a test of the trend line for a rally back towards 1.26832, while a break of this resistance level could give way for more upside gains towards 1.2745. From the daily time frame, yesterday marked the third consecutive day of a higher lower… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
