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EURUSD Daily Pivots

R3 1.1519
R2 1.1407
R1 1.1322
Pivot 1.121
S1 1.1125
S2 1.1013
S3 1.0928

 EURUSD H1 January 27 2015 technical analysis pivot points currency outlook for forex trading

EURUSD managed to close higher yesterday from the lows of 1.109. However today needs to follow through higher in order to continue/confirm the move to the upside. Immediate resistance comes in at 1.154 and as long as yesterday’s low is not breached and EURUSD stays above the daily pivot level of 1.121, we could potentially expect further upside gains.

USDJPY Daily Pivots

R3 120.111
R2 119.305
R1 118.882
Pivot 118.059
S1 117.653
S2 116.847
S3 116.424

USDJPY H1 January 27 2015 technical analysis pivot points currency outlook for forex trading

USDJPY saw a sharp reversal from 118.64 price level and is currently pushing lower. If the daily pivot level and the support/resistance zone near 118.2 – 118 holds, we could expect to see USDJPY rally higher towards 118.97 levels to test the upper support/resistance level before resuming its decline lower.

A break below the daily pivot level and the support zone near 118.06 could see USDJPY decline further to test the next support at 117.646.

GBPUSD Daily Pivots

R3 1.5242
R2 1.5172
R1 1.5126
Pivot 1.5057
S1 1.5011
S2 1.4942
S3 1.4895

GBPUSD H1 January 27 2015 technical analysis pivot points currency outlook for forex trading

GBPUSD managed to break above the support level but looks imminent to decline lower today to test the pivot level which shows confluence with the support/resistance level at 1.505. A successful test of this zone could see GBPUSD rally to test the next resistance at 1.5112 followed by a test to 1.515.