Technical Analysis

EUR/USD bounces off lows post German GDP, around 1.10 mark

Published on 2019-11-14 10:45 Share

USD/JPY

USD/JPY traded with a negative bias for the fifth consecutive session on Thursday and is currently placed near the lower end of its weekly trading range, around the 108.70 region. USD/JPY is expected to find support at 108.54 and a fall through could take it to the support level of 108.35. On the other side, resistance stands at 108.79 and a rise through could take it to the level of 109.00.

USDJPY-14-11-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 108.09 108.37 108.59 108.87 109.09 109.37 109.58
1 WEEK 107.13 107.65 108.46 108.98 109.79 110.31 111.12
1 MONTH 103.76 105.15 107.62 107.94 109.40 110.76 112.22

 

EURUSD

EUR/USD jumped-off monthly lows at 1.0994 and regained the 1.10 handle in a knee-jerk reaction to upbeat German Q3 GDP growth numbers. But the bulls appear to lack follow-through, as the rates now reverse the spike. EUR/USD is expected to find support at 1.0980 and a fall through could take it further to the support level of 1.0963. On the other side, resistance stands at 1.1022 and a rise through could take it to the next resistance level of 1.1045.

EURUSD-14-11-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0970 1.0982 1.0996 1.1008 1.1021 1.1034 1.1047
1 WEEK 1.0805 1.0911 1.0965 1.1071 1.1125 1.1231 1.1285
1 MONTH 1.0659 1.0769 1.0961 1.1071 1.1263 1.1373 1.1565

 

GBPUSD

GBP/USD hovers below 1.2850 while heading into the London open on Thursday. Optimism surrounding the UK’s political plays confronts the broad US dollar (USD) strength ahead of the British Retail Sales data for October. GBP/USD is expected to find support at 1.2823 and a fall through could take it to the next support level of 1.2808. On the other side, resistance stands at 1.2856 and a rise through could take it to the next resistance level of 1.2868.

GBPUSD-14-11-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2793 1.2808 1.2831 1.2845 1.2868 1.2882 1.2905
1 WEEK 1.2533 1.2651 1.2712 1.2830 1.2891 1.3009 1.3070
1 MONTH 1.1601 1.1898 1.2420 1.2717 1.3239 1.3536 1.4058

 

GOLD

Gold is currently trading around $1,465 by the press time of early European morning on Thursday. Markets keep struggling with the US-China trade deal developments, while US CPI and Powell’s testimony failed to provide any direction. Gold is expected to find support at 1,460.40 and a fall through could take it to the support level of 1,456.70. On the other side, resistance stands at 1,472.00, and a rise through could take it to the level of 1,475.10.

Gold-14-11-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1449.05 1453.55 1458.85 1463.35 1468.65 1473.15 1478.45
1 WEEK 1380.80 1418.90 1440.90 1479.00 1501.00 1539.10 1561.10
1 MONTH 1417.14 1441.07 1477.94 1501.87 1538.74 1562.67 1599.54

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