EURUSD Daily Pivots R3 1.2551 R2 1.2497 R1 1.2469 Pivot 1.2415 S1 1.2387 S2 1.2333 S3 1.2305 EURUSD managed to end the day higher rallying to as far as the daily pivot level yesterday. Today’s price action currently see’s a small bearish reversal underway, but we can expect to see a potential retest to the main support/resistance level of 1.25278 which will yet again be critical in regards to future price action for EURUSD. If EURUSD fails to break above 1.25278, a decline back to 1.23695 is possible and a potential to drop to as low as 1.2271 levels. Alternatively, a break above the resistance of 1.25278 could see some choppy price action until price manages to break above the trend line. USDJPY Daily Pivots R3 119.543 R2 119.015 R1 118.64 Pivot 118.112 S1 117.737 S2 117.209 S3 116.834 USDJPY’s failure to rally above the previous highs at 118.974 and a break below the long rising trend line is indicative of potential weakness in USDJPY. We could possibly see a retest of the minor down sloping trend line with the first support coming in at 117.572 levels and probably a decline lower to retest the minor down sloping trend line. Alternatively, a rally could see potential resistance near the daily pivot level of 118.112. GBPUSD Daily Pivots R3 1.5823 R2 1.5769 R1 1.5737 Pivot 1.5683 S1 1.5651 S2 1.5597 S3 1.5565 GBPUSD managed to hold on to its gains after rallying modestly yesterday. Price briefly declined to the minor support level of 1.56723 but is now currently back to trading below the main support/resistance level. A rally above this level is required to see further gains to 1.5736 while a decline could potentially test the lower support line of the price channel. 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 US GDP revised up to 3.9% – a beat – USD up Yohay Elam 7 years EURUSD Daily Pivots R3 1.2551 R2 1.2497 R1 1.2469 Pivot 1.2415 S1 1.2387 S2 1.2333 S3 1.2305 EURUSD managed to end the day higher rallying to as far as the daily pivot level yesterday. Today's price action currently see's a small bearish reversal underway, but we can expect to see a potential retest to the main support/resistance level of 1.25278 which will yet again be critical in regards to future price action for EURUSD. If EURUSD fails to break above 1.25278, a decline back to 1.23695 is possible and a potential to drop to as low as 1.2271 levels.… 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.
