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EURUSD Daily Pivots

R3 1.2828
R2 1.2765
R1 1.2697
Pivot 1.2633
S1 1.2566
S2 1.2502
S3 1.2434

 EURUSD H1 Technical analysis pivot points October 1 2014 forex trading currencies

EURUSD validated the descending triangle, breaking lower than the target objective of 1.26556, making an intra-day low of 1.257. Price seems to be forming a small topping pattern near today’s pivot level with the daily pivot and the daily resistance level  1 acting as strong resistance where upward moves are most likely to be capped ahead of the US monthly ADP jobs data.

USDJPY Daily Pivots

R3 110.604
R2 110.227
R1 109.94
Pivot 109.563
S1 109.276
S2 108.899
S3 108.612

USDJPY H1 Technical analysis pivot points October 1 2014 forex trading currencies

At the time of writing, USDJPY made a strong pin bar rejection near the daily resistance level 1 of 109.94 indicating further upside push is likely to come from the US ADP jobs data release. A retest of support to 109.67 could establish support paving way for further gains for the day.

GBPUSD Daily Pivots

R3 1.6398
R2 1.6343
R1 1.6277
Pivot 1.6223
S1 1.6157
S2 1.6101
S3 1.6036

GBPUSD H1 Technical analysis pivot points October 1 2014 forex trading currencies

GBPUSD tested the short term support level for resistance at 1.6217 before dropping lower to make an intra-day low of 1.6171 which also happens to be a strong support level. We can expect to see some ranging/sideways price action ahead of the GBP followed by the USD economic data. Yesterday’s daily candle also closed indecisively with small body and strong upper and lower wicks hinting to further indecision in price action.