EURUSD Daily Pivots R3 1.2176 R2 1.214 R1 1.2071 Pivot 1.2036 S1 1.1966 S2 1.1931 S3 1.1861 EURUSD opened the week making a large spike to the downside, hitting an intraday session low to 1.1868 while leaving a down gap as well at 1.20. If price action looks to push higher, we could see a rally to fill this gap while also spiking higher towards the daily pivot level at 1.2036 while also noting that Friday’s pivot level did not get filled. Therefore a potential rally to the major broke support at 1.20626 cannot be ruled out. USDJPY Daily Pivots R3 121.933 R2 121.338 R1 120.912 Pivot 120.317 S1 119.891 S2 119.296 S3 118.870 USDJPY failed to make a higher high after hitting session highs on Friday at 120.742, just short of 120.8 highs, which is also a resistance level. Plotting the minor intraday trend line, a break below it could see USDJPY decline lower to 119.66 levels. Alternatively, if the trend line support holds near the daily pivot level, we could see another attempt to the upside, which should be aiming for an initial break above 120.742.. GBPUSD Daily Pivots R3 1.5763 R2 1.5674 R1 1.5503 Pivot 1.5416 S1 1.5245 S2 1.5156 S3 1.4986 GBPUSD opened today’s trading session spiking lower hitting a new yearly low of 1.51884. The decline however seems to be supported by the lower support line of the falling price channel. We could expect to see a bit of choppy price movement, with a possible rally to the daily pivot level price of 1.5415 as well as a potential test of the broken support at 1.5486 for resistance before we can expect to see further declines in the pair. James Chen James Chen James Chen is Chief Technical Strategist for City Index Group. He is also a Chartered Market Technician. He is the author of the books: "Essentials of Foreign Exchange Trading" (John Wiley & Sons, 2009) and "Essentials of Technical Analysis for Financial Markets" (John Wiley & Sons, 2010). Mr. Chen writes currency analysis, leads forex trading seminars and has appeared in numerous major financial media outlets, including CNBC, Bloomberg TV, Forbes, Reuters, Dow Jones, and the Associated Press. View All Post By James Chen Forex News Today: Daily Trading News share Read Next Trading 3 Major Support Zones on the Weekly Chart Guest 8 years EURUSD Daily Pivots R3 1.2176 R2 1.214 R1 1.2071 Pivot 1.2036 S1 1.1966 S2 1.1931 S3 1.1861 EURUSD opened the week making a large spike to the downside, hitting an intraday session low to 1.1868 while leaving a down gap as well at 1.20. If price action looks to push higher, we could see a rally to fill this gap while also spiking higher towards the daily pivot level at 1.2036 while also noting that Friday's pivot level did not get filled. Therefore a potential rally to the major broke support at 1.20626 cannot be ruled out. USDJPY Daily Pivots… Regulated 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.
