EURUSD Daily Pivots R3 1.2591 R2 1.2538 R1 1.2506 Pivot 1.2453 S1 1.242 S2 1.2367 S3 1.2335 EURUSD continued its gains for the second day of the week, rising above the 1.245 handle. Price action looks close to testing the main support/resistance level at 1.252 handle which will offer more clues into the direction for EURUSD, with a break of the resistance paving way for the Euro to retrace most of its losses while a successful test of resistance could pave way for a test back to the lower support at 1.236 USDJPY Daily Pivots R3 119.359 R2 118.968 R1 118.472 Pivot 118.081 S1 117.585 S2 117.194 S3 116.698 The price action in USDJPY is indicative that a rally is unlikely and a potential test back to the main support at 117.572 is likely on the cards with the down sloping price channel providing the short term support and resistance. From the weekly charts, we can notice that the USDJPY has been enjoying its rally for the past 4 weeks, so potentially this week could see the pair pause its rally before the uptrend resumes. GBPUSD Daily Pivots R3 1.5832 R2 1.5784 R1 1.5745 Pivot 1.5696 S1 1.5658 S2 1.5609 S3 1.5571 GBPUSD could possibly be looking for direction today, as the pair dips lower to test the daily pivot level for support. If the support at 1.57 – 1.569 holds, the Cable could possibly look towards a rally to test the main resistance at 1.57625 handle. Alternatively, a break of support near the daily pivot could see the GBPUSD decline lower to the established support at 1.559. 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 QE looks very real after Constancio offers justification, Yohay Elam 8 years EURUSD Daily Pivots R3 1.2591 R2 1.2538 R1 1.2506 Pivot 1.2453 S1 1.242 S2 1.2367 S3 1.2335 EURUSD continued its gains for the second day of the week, rising above the 1.245 handle. Price action looks close to testing the main support/resistance level at 1.252 handle which will offer more clues into the direction for EURUSD, with a break of the resistance paving way for the Euro to retrace most of its losses while a successful test of resistance could pave way for a test back to the lower support at 1.236 USDJPY Daily Pivots R3 119.359 R2 118.968… 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.
