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EURUSD Daily Pivots

R3 1.2545
R2 1.2510
R1 1.2446
Pivot 1.2411
S1 1.2346
S2 1.2311
S3 1.2247

 EURUSD December 3 2014 technical analysis pivot points currency trading forex

EURUSD invalidated the bullish flag set up yesterday and instead declined considerably. The pair is currently trading near the major support level of 1.23695. A bounce from here as seen previously could see the pair rally back, ideally to the trend line break out level near the daily pivot in the region of 1.2433 – 1.242 levels. Alternatively, a break of the support could see EURUSD target the next major support at 1.227.

USDJPY Daily Pivots

R3 120.652
R2 119.97
R1 119.591
Pivot 118.909
S1 118.53
S2 117.848
S3 117.469

USDJPY December 3 2014 technical analysis pivot points currency trading forex

USDJPY broke above the resistance to make a new yearly high at 119.437 but current price action looks to be easing. A corrective decline to the support level at 118.974 – 118.9 could set the stage for further significant gains in the USDJPY ahead of the nonfarm payrolls on Friday.

GBPUSD Daily Pivots

R3 1.5819
R2 1.578
R1 1.5708
Pivot 1.5669
S1 1.5598
S2 1.5559
S3 1.5487

GBPUSD December 3 2014 technical analysis pivot points currency trading forex

GBPUSD is back in the range with two attempts to rally failed with the resistance trend line. The level of 1.56117 is key to watch as the support level has held in the past. A break of this support could see further declines in the cable with the next major support at 1.5486.