EURUSD Daily Pivots R3 1.3203 R2 1.304 R1 1.294 Pivot 1.2782 S1 1.2678 S2 1.2519 S3 1.2415 EURUSD managed to reach the inverse head and shoulders pattern’s price objective of 1.2858, a previously established resistance level. With the Eurozone CPI due later today, the EURUSD could be volatile if the inflation reading comes in above or below estimates. Technically, support could be found near 1.2784 level which shows confluence with today’s daily pivot level for a potential move to the upside, breaking above the established resistance near 1.2858. To the downside, if the 1.2784 support level gives way, we could see a test back to 1.27. It must be mentioned that the current price action, even if declining towards 1.2784 is shaping out to be a bullish flag, although still in its early stages, which tilts the bias to the upside. USDJPY Daily Pivots R3 109.51 R2 108.5 R1 107.21 Pivot 106.204 S1 104.91 S2 103.9 S3 102.61 USDJPY broke down to make an intra-day low to 105.197 breaking below the descending triangle’s target of 106.41. The pair is currently consolidating and could likely rally towards testing the broken support at 106.41 for possible move to the downside towards 105.7 GBPUSD Daily Pivots R3 1.6295 R2 1.6182 R1 1.6101 Pivot 1.5988 S1 1.5906 S2 1.5793 S3 1.5712 GBPUSD rallied back above the trend line and at the time of writing is currently forming a bullish flag pattern. Price reversed just a few pips away from the mentioned 1.58721 region. The bullish flag could likely see a rally towards the first daily resistance level above which lies the technical resistance at 1.60703. The key risk to the pair is the US weekly unemployment claims to be released during the US trading session. 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 Euro-zone core inflation revised to the upside – EUR/USD Yohay Elam 7 years EURUSD Daily Pivots R3 1.3203 R2 1.304 R1 1.294 Pivot 1.2782 S1 1.2678 S2 1.2519 S3 1.2415 EURUSD managed to reach the inverse head and shoulders pattern's price objective of 1.2858, a previously established resistance level. With the Eurozone CPI due later today, the EURUSD could be volatile if the inflation reading comes in above or below estimates. Technically, support could be found near 1.2784 level which shows confluence with today's daily pivot level for a potential move to the upside, breaking above the established resistance near 1.2858. To the downside, if the 1.2784 support level gives way, we… 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.
