India Crypto Exchange

Best Bitcoin Trading Platform

EUR/USD (1.114): Further Downside In Store

EUR/USD (1.114): Further Downside In Store

EUR/USD Daily Pivots

R3 – 1.1342 R2 – 1.1302 R1 – 1.1238 Pivot1.1197 S1 – 1.1134 S2 – 1.1093 S3 – 1.1030

EUR/USD H1 Chart

EUR/USD (1.114): EUR/USD: Further downside in store The daily charts saw a bearish close yesterday coming off the previous day’s doji candlestick pattern. The occurrence of this reversal pattern just below the main resistance on the daily chart at 1.1284 indicates a possible shift to the downside. However, support at 1.1119 is likely to see prices being held at this level for a short while ahead of a decline lower. On the H4 time frame, the breakdown of prices from the new rising price channel after prices hit resistance at 1.1254 has signaled a near term weakness in EUR/USD. Support at 1.1135 on the H4 time frame will be key, as a close below this level will see EUR/USD decline to 1.11 support where prices reversed just a few pips above this level on at 23rd September.

USD/JPY Daily Pivots

R3 – 121.103 R2 – 120.726 R1 – 120.304 Pivot119.927 S1 – 119.505 S2 – 119.128 S3 – 118.706


USD/JPY (120.1): USD/JPY: Consolidation continues

Prices remain range bound with no clear directional bias being set yet again despite the longer term bias pointing to a continued decline lower. We do expect to see prices attempt another test of resistance near 121.48 region before a decline lower. On the H4 time frame, USD/JPY is showing signs of establishing resistance at 120.275 albeit a minor resistance level. Failure to close above 120.275 will indicate a sideways price action with lower support at 119.52/119.4 holding the declines in the near term. A break below the main support at 119.145 is required for the declines to be validated.

GBP/USD Daily Pivots

R3 – 1.5298 R2 – 1.5256 R1 – 1.5192 Pivot1.5150 S1 – 1.5086 S2 – 1.5044 S3 – 1.498

GBP/USD H4 Chart

GBP/USD (1.513): GBP/USD: Bullish pergence building up

The Cable attempted to break out from the bullish pergence but prices remain pressured to the downside. There has been strong consolidation between 1.5178 – 1.5136 level of support. On the daily charts, the main support sits at 1.51215 – 1.509 and we expect a test to this support before expecting any correction to the declines. GBP/USD will have to clear the initial short term resistance at 1.5178 which will then see a corrective rally targeting the first support at 1.5255 and eventually to 1.5343.

0 0 votes
Notify of
0 评论
Inline Feedbacks
View all comments