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EURUSD Daily Pivots

R3 1.1983
R2 1.1939
R1 1.1888
Pivot 1.1845
S1 1.1794
S2 1.175
S3 1.17

 EURUSD H1 January 8 2015 technical analysis pivot points for currency trading forex

A break of the lows at 1.183 is likely to pave way for more declines in the Euro against the Dollar. But considering price is trading close to the respected trend line, a break out to the upside could pose a risk of a rally targeting 1.19 – 1.88 followed by the unfilled gap at 1.2.

USDJPY Daily Pivots

R3 121.063
R2 120.335
R1 119.804
Pivot 119.096
S1 118.545
S2 117.837
S3 117.286

USDJPY H1 January 8 2015 technical analysis pivot points for currency trading forex

The Dollar-Yen is currently aiming to push higher but is struggling near previous resistance/support level of 119.66 regions. If this level caps the gains, we can expect to see USDJPY decline to the daily pivot level of 119.09 a break of which could see a decline lower to 118.2.

GBPUSD Daily Pivots

R3 1.5258
R2 1.5206
R1 1.5157
Pivot 1.5107
S1 1.5059
S2 1.5007
S3 1.4958

GBPUSD H4 January 8 2015 technical analysis pivot points for currency trading forex

The Cable continues to gradually push lower with the next major support coming in at 1.4922. However a bounce to the upside could see the Cable rally towards the minor support level broken at 1.52085 before settling lower. Alternatively, a break above 1.52085 could see a rally to test the next broken support level at 1.5486 level for resistance.