EURUSD Daily Pivots
|
R3 |
1.0864 |
|
R2 |
1.0783 |
|
R1 |
1.0733 |
|
Pivot |
1.0651 |
|
S1 |
1.0601 |
|
S2 |
1.052 |
|
S3 |
1.047 |
EURUSD managed to reverse around 1.0591 yesterday as noted during the morning technical analysis report. Price action continued to keep up its bullish momentum with the early trading session today seeing a spike to 1.0733 levels. Next support comes at 1.068 and 1.0692 which could see a rally towards 1.08015 levels. A break below 1.068 will however see the bearish trend take over paving way for declines.
USDJPY Daily Pivots
|
R3 |
120.609 |
|
R2 |
120.174 |
|
R1 |
119.655 |
|
Pivot |
119.221 |
|
S1 |
118.702 |
|
S2 |
118.267 |
|
S3 |
117.748 |
USDJPY continues to gradually trend lower after the break out from the ascending triangle pattern. Price action is seen currently trading at 119.045 levels, and could dip down to 118.5 support. Momentum could however slow down from here as the level between 118.9 and 118.73 marks another minor support zone and as seen price attempted to drop below this level but was rejected twice. We expect a minor rally to the daily pivot level before the support zone gives way to the eventual target to 118.5.
GBPUSD Daily Pivots
|
R3 |
1.5049 |
|
R2 |
1.4951 |
|
R1 |
1.4896 |
|
Pivot |
1.4798 |
|
S1 |
1.4743 |
|
S2 |
1.4645 |
|
S3 |
1.459 |
GBPUSD was the stronger of the currency pairs amongst majors with the break out from the triangle pattern. The brief retest to the support at 1.4724 saw the pair rally towards the eventual target at 1.485. From here on, GBPUSD could see another dip lower to the daily pivot or continue its upward trend to head back to the 1.495 levels. A breal below the current support and a test of resistance could however see GBPUSD turn lower targeting previous support levels at 1.472 and 1.468.
