Home EUR/USD, USD/JPY, GBP/USD December 1 Technical analysis, Pivot Points
Forex News Today: Daily Trading News

EUR/USD, USD/JPY, GBP/USD December 1 Technical analysis, Pivot Points

EURUSD Daily Pivots

R3 1.2537
R2 1.2513
R1 1.2473
Pivot 1.2449
S1 1.2409
S2 1.2485
S3 1.2345

 EURUSD December 1 2014 pivot points technical analysis currency trading forex

Having broken below the two minor rising trend lines, EURUSD could possibly look towards testing the major support at 1.23695, so long as any upside gains are capped near the daily resistance 1 level. A break above the high of 1.2489 could possibly see the EURUSD rally back to the major support/resistance level near 1.2527 level with a good probability of even breaking the major support/resistance level.

USDJPY Daily Pivots

R3 120.15
R2 119.458
R1 119.087
Pivot 118.395
S1 118.024
S2 117.332
S3 116.961

USDJPY December 1 2014 pivot points technical analysis currency trading forex

A daily close above 118.974 is essential to see any further gains in USDJPY. The hourly charts however show some weaknesses at this point in time. Price is still trading above the major rising support trend line and as long as this trend line holds, USDJPY could possibly eye 118974 and beyond. However, a break of this trend line could see a test down to the daily pivot level at 118.395 – 118.33.

GBPUSD Daily Pivots

R3 1.5822
R2 1.5781
R1 1.5699
Pivot 1.5658
S1 1.5576
S2 1.5535
S3 1.5453

GBPUSD December 1 2014 pivot points technical analysis currency trading forex

After rallying out from the consolidation price zone, GBPUSD promptly fell back to the lower end of the consolidation range, settling back below the falling trend line. A daily test to the region of 1.5688 is on the cards. A failure to break above the rising trend line could possibly indicate renewed weakness in the Cable, targeting the lows of 1.5485.

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]