EURUSD Daily Pivots R3 1.2651 R2 1.2592 R1 1.2482 Pivot 1.2422 S1 1.2319 S2 1.2254 S3 1.2145 After a brief rally to retest the bearish flag break out price at the support/resistance level of 1.255 – 1.252, EURUSD declined breaking the interim support at 1.2466. The pair is now at a familiar support level but further declines are on the cards. We can expect to see a brief rally back towards the daily pivot or a test of the broken support at 1.2466 for further declines towards 1.227. Upside gains are likely limited to 1.2466, a failure of which could see EURUSD push higher to retest the main resistance zone of 1.255 and 1.252. USDJPY Daily Pivots R3 117.243 R2 116.38 R1 115.794 Pivot 114.931 S1 114.345 S2 113.482 S3 112.896 USDJPY continues to be swift in its bullish momentum, despite intra-day weakness the pair had made a brief test of the high of the bull flag at 114.176 before resuming higher. We can expect to see a drop towards the daily pivot level before the pair can push higher towards the next price objective of 118.33. The key risk however being that if the daily pivot fails to contain the declines, we could actually see a steeper correction towards the flag’s break out price zone of 113.56 GBPUSD Daily Pivots R3 1.6125 R2 1.6063 R1 1.5947 Pivot 1.5872 S1 1.5769 S2 1.5708 S3 1.5591 The Cable has finally managed to find direction after consolidating for most of this week. Yesterday, the pair broke the support level zone of 1.5884 – 1.5872 and looks steady for a decline towards 1.5742. A retest to the daily pivot from the current levels could see a retest of the broken support for resistance before declining further. Alternatively, the failure of resistance at 1.5884 -1.5872 to hold the rally could see GBPUSD push higher to test the next resistance at 1.595 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 Forex News Today: Daily Trading News share Read Next Are US salary raises around the corner? More evidence Yohay Elam 7 years EURUSD Daily Pivots R3 1.2651 R2 1.2592 R1 1.2482 Pivot 1.2422 S1 1.2319 S2 1.2254 S3 1.2145 After a brief rally to retest the bearish flag break out price at the support/resistance level of 1.255 - 1.252, EURUSD declined breaking the interim support at 1.2466. The pair is now at a familiar support level but further declines are on the cards. We can expect to see a brief rally back towards the daily pivot or a test of the broken support at 1.2466 for further declines towards 1.227. Upside gains are likely limited to 1.2466, a failure of which… Top 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.
