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EURUSD Daily Pivots

R3 1.114
R2 1.1011
R1 1.0913
Pivot 1.0784
S1 1.0687
S2 1.0557
S3 1.046

 EURUSDH1 technical analysis pivot points currency trading forex 23 03 2015

EURUSD managed to stay above the trend line and is currently testing the FOMC highs in the region of 1.089 – 1.0833. We expect a dip to the daily pivot level, which also shows confluence with a previous technical resistance that was broken, now eyeing for turning to support. The 1.07344 will be key as a successful test of support could prepare EURUSD for a possible break above 1.089 levels. Alternatively, should 1.07344 give way, we could expect the trend line to break soon paving way for a decline down to 1.063.

USDJPY Daily Pivots

R3 122.108
R2 121.651
R1 120.804
Pivot 120.351
S1 119.5
S2 119.05
S3 118.2

USDJPYH4_2303 technical analysis pivot points currency trading forex

USDJPY broke down from the price channel and we expect a minor test up to 120.465 levels. If this resistance holds, USDJPY could potentially look for a dip lower to 118.414 levels. A break above and back into the price channel could however see some bullish sentiment to build up, however, given the various resistance levels near 120.465 through 120.8, we suspect that the upside moves could be limited.

GBPUSD Daily Pivots

R3 1.5267
R2 1.5138
R1 1.4946
Pivot 1.4817
S1 1.4625
S2 1.4493
S3 1.4302

GBPUSDH4_2303 technical analysis pivot points currency trading forex

GBPUSD 4-hour chart shows the break out from the falling price channel indicating a possible move to the upside. Price action is back to the FOMC levels near 1.495 and we could expect a dip down to 1.4821 before testing higher. There is a minor trend line which could come in as resistance in the short term and could cap prices near the 1.503 levels.

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