EURUSD Daily Pivots R3 1.148 R2 1.1406 R1 1.133 Pivot 1.1255 S1 1.1181 S2 1.1105 S3 1.1029 EURUSD (1.1256): EURUSD continues to struggle to break free above the 1.12845 level of resistance with yesterday’s candlestick close below this level on a bearish note. The intraday charts shows price action is currently trading near the lower rail of the ascending price channel. It is critical that price holds above the lower rail here, failing which, we could see a quick decline to retest the 1.117 level of support. To the upside, EURUSD needs to break above 1.1335 – 1.13575 level of resistance to post new gains with the next target coming in at the resistance of 1.149. USDJPY Daily Pivots R3 125.686 R2 124.912 R1 124.165 Pivot 123.391 S1 122.644 S2 121.87 S3 121.123 USDJPY (123.47): USDJPY attempted a bullish run yesterday but remained within the range of the previous day’s high and low forming an inside bar. A break out from here could likely see momentum build into the USDJPY. On the intraday charts, we notice a brief test back to 124 level of resistance but only by a spike. We could therefore expect a cleaner close at this level. A break below the previous lows of 122.65 will however see USDJPY fall below to test the lower support near 121.921. GBPUSD Daily Pivots R3 1.5672 R2 1.5602 R1 1.5559 Pivot 1.549 S1 1.5446 S2 1.5377 S3 1.5334 GBPUSD (1.551): GBPUSD formed a pinbar yesterday near the daily chart resistance of 1.552. On the intraday charts, price action is trading inside the resistance zone of 1.5455 through 1.552. We need to see a break above 1.552 in order for the Cable to target the next resistance level which comes in at 1.579. Alternatively, there is a risk of a decline to the downside to test the break out from the falling price channel towards 1.53845. A retest to this price level will then pave way for a potential break of resistance (1.552 – 1.5455) and set the stage for further gains to 1.579. In our latest podcast, we bring you up to speed with the Fed decision and the USD impact, and also tackle the Greek crisis from two different angles. Follow us on Stitcher 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] View All Post By John Benjamin Daily Look share Read Next US PPI: +0.5% – above expectations Yohay Elam 7 years EURUSD Daily Pivots R3 1.148 R2 1.1406 R1 1.133 Pivot 1.1255 S1 1.1181 S2 1.1105 S3 1.1029 EURUSD (1.1256): EURUSD continues to struggle to break free above the 1.12845 level of resistance with yesterday's candlestick close below this level on a bearish note. The intraday charts shows price action is currently trading near the lower rail of the ascending price channel. It is critical that price holds above the lower rail here, failing which, we could see a quick decline to retest the 1.117 level of support. To the upside, EURUSD needs to break above 1.1335 - 1.13575 level… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
