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EURUSD Daily Pivots

R3 1.146
R2 1.1421
R1 1.1354
Pivot 1.1314
S1 1.1247
S2 1.1207
S3 1.1104

 EURUSD H1 January 29 2015 technical analysis pivot points outlook currency trading

EURUSD closed lower yesterday after breaking out from the rising trend line. However, price action is currently aiming to reach for the daily pivot level. If price reverses from the pivot point, we could expect to see further declines in EURUSD. Alternatively, a break higher above the daily pivot level could possibly see the EURUSD back towards retracing its gains.

USDJPY Daily Pivots

R3 119.111
R2 118.683
R1 118.111
Pivot 117.683
S1 117.111
S2 116.684
S3 116.111

USDJPY H1 January 29 2015 technical analysis pivot points outlook currency trading

USDJPY has been ranging between 118 and 117.6 levels for the past couple of sessions. We however notice that the break out from this range is imminent. Immediate resistance containing break out to the upside comes in at 118.2 levels, after which, price could rally as much as 118.64 and eventually towards 118.9 levels. To the downside, a break of support near 117.646 – 117.5 will see a decline to 116.339

GBPUSD Daily Pivots

R3 1.5283
R2 1.5251
R1 1.5195
Pivot 1.5163
S1 1.5107
S2 1.5075
S3 1.5018

GBPUSD H1 January 29 2015 technical analysis pivot points outlook currency trading

GBPUSD, despite the weakness yesterday looks poised for upside gains. However, price needs to clear 1.515 level in order to aim for the next resistance level at 1.525 levels. For the moment, price is well supported by the rising trend line as well as horizontal support levels, with a possible dip towards 1.511 before rallying higher.