EUR/USD Trades Above The Minor Broken Trend Line
ORBEX | Feb 26, 2015 02:56AM ET
EUR/USD Daily Pivots
R3 - 1.144
R2 - 1.1414
R1 - 1.1388
Pivot - 1.1361
S1 - 1.1334
S2 - 1.1307
S3 - 1.1280
EUR/USD trades above the minor broken trend line. Currently we expect a dip down to the daily pivot level before we can expect a proper test towards 1.1388 levels with the possibility of pushing higher towards 1.14385 levels. A break below today's daily pivot could possibly see another leg down to 1.1316 levels.
USD/JPY Daily Pivots
R3 - 119.514
R2 - 119.289
R1 - 119.072
Pivot - 118.847
S1 - 118.63
S2 - 118.414
S3 - 118.188
USD/JPY continues to trade without making any clear moves. However, we keep an eye on the head and shoulders pattern considering that the right shoulder has not been breached. A test to 118.414 is quite likely for the moment while any upside gains should potentially stall near 119.25 level. A break above the previous high at 119.6 will invalidate this view.
GBP/USD Daily Pivots
R3 - 1.5652
R2 - 1.5595
R1 - 1.5561
Pivot - 1.5504
S1 - 1.5470
S2 - 1.5412
S3 - 1.5378
GBP/USD closed above the previous bullish flag's target at 1.55 level. If price continues to be supported near the 1.553 through 1.55 level, the next upside target would be 1.575. Alternatively, should prices dip, a close below 1.55 will see a retest down to 1.543 which will still put GBP/USD into bullish territory. Only a close below 1.543 will see a decline down to 1.5335 levels.
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