Technical Analysis

EUR/USD flirting with daily highs near 1.1380 - USD/JPY above mid – 110.00s

Published on 2019-03-22 10:37 Share
GBPUSD

USDJPY

USD/JPY failed to extend yesterday’s pullback beyond 111.00 as the quote dropped to the lows near 110.65 in the early session on Friday. Traders will focus on today’s risk events like Brexit and political pessimism surrounding the US, North Korea and China, to determine near-term trade moves. USD/JPY is expected to find support at 110.56, and a fall through could take it to the support level of 110.29. On the other side, resistance stands at 110.95, and a rise through could take it to the level of 111.14.

USDJPY_22_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.76 110.03 110.42 110.69 111.08 114.35 111.74
WEEKLY 109.90 110.39 110.93 111.42 111.96 112.45 112.99
MONTHLY 106.80 107.76 109.58 110.54 112.36 113.32 115.14
 

EURUSD

EUR/USD resumed the upside on Friday and edges higher to the 1.1380 region. The pair manages to reverse part of yesterday’s pullback in response to some recovery in the Dollar following the dovish message at the FOMC meeting on the previous day. Today’s uptick comes along a better mood in the risk-associated universe. EUR/USD is expected to find support at 1.1350 and a fall through could take it further to the support level of 1.1324. On the other side, resistance stands at 1.1406, and a rise through could take it to the next resistance level of 1.1437.

EURUSD_22_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1236 1.1289 1.1331 1.1384 1.1425 1.1479 1.1520
WEEKLY 1.1124 1.1172 1.1249 1.1297 1.1374 1.1422 1.1499
MONTHLY 1.0982 1.1107 1.1239 1.1364 1.1496 1.1621 1.1753
 

GBPUSD

GBP/USD is taking the bids near 1.3135, with the pair on a recovery mode since Thursday-end as EU leaders finally agreed over the Brexit deadline extension with the two-factor system giving unconditional stretch till April 12. GBP/USD is expected to find support at 1.3085 and a fall through could take it to the next support level of 1.3049. On the other side, resistance stands at 1.3190, and a rise through could take it to the next resistance level of 1.3226.

GBPUSD_22_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2790 1.2898 1.3014 1.3121 1.3237 1.3344 1.3460
WEEKLY 1.2595 1.2772 1.3031 1.3208 1.3467 1.3644 1.3903
MONTHLY 1.2328 1.2550 1.2907 1.3129 1.3486 1.3708 1.4065
 

GOLD

Gold quickly reversed an Asian session dip to $1307 area and is currently placed at session tops, recovering all the previous session's modest pull-back from three-week tops. The US Dollar failed to capitalize on the overnight rebound and helped the precious metal to regain traction. Gold is expected to find support at the level of 1,305.80 and a fall through could take it to 1,301.70 level. On the other side, resistance stands at 1,316.20, and a rise through could take it to the next resistance level of 1,320.35.

Gold_22_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1283.69 1293.32 1300.79 1310.42 1317.89 1327.52 1334.99
WEEKLY 1270.80 1280.70 1291.80 1301.70 1312.80 1322.70 1333.80
MONTHLY 1252.16 1278.43 1297.26 1323.53 1342.36 1368.63 1387.46

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