EURUSD Daily Pivots
| R3 | 1.1024 |
| R2 | 1.0983 |
| R1 | 1.0953 |
| Pivot | 1.0912 |
| S1 | 1.0882 |
| S2 | 1.0842 |
| S3 | 1.0812 |
EURUSD (1.09): EURUSD’s attempt to break the resistance near 1.09275 looks to be faltering and a move to the lower support at 1.0820 looks very likely. Price action behavior near the support will prove to be important as a break of the lower support will open the way for further downside. We could however anticipate a strong bounce off the 1.082 region but unless the upper resistance at 1.09275 breaks we cannot expect much gains in store. On the longer term horizon, a break of support at 1.082 will set the stage for an eventual decline to 1.05 lows.
USDJPY Daily Pivots
| R3 | 125.37 |
| R2 | 125.165 |
| R1 | 124.95 |
| Pivot | 124.744 |
| S1 | 124.529 |
| S2 | 124.324 |
| S3 | 124.108 |
USDJPY (124.7): USDJPY has barely moved near the 124.775 level of minor support/resistance and is trading just above a short term support at 124.5 which marked the previous intraday resistance level. A test to this level could see USDJPY attempt to break the next resistance at 125.45 and eventually to 125.65. The minor trend line continues to act as a guide as a potential break of the trend line will see USDJPY likely to dip lower to 124 support.
GBPUSD Daily Pivots
| R3 | 1.5779 |
| R2 | 1.5708 |
| R1 | 1.5609 |
| Pivot | 1.5538 |
| S1 | 1.5441 |
| S2 | 1.5368 |
| S3 | 1.527 |
GBPUSD (1.55): GBPUSD has broken out from the rising price channel and was trading near the major support level between 1.552 through 1.5455. We expect the support level to hold for now. To the upside, price will have to clear the resistance at 1.565 to post any gains, while to the downside, the lower range of the support at 1.5455 needs to be cleared to test the next support at 1.533.
Share
