Technical Analysis

Gold Off 10-day lows, focus on the Fed

Published on 2018-12-17 10:26 Share
Gold

USDJPY

USD/JPY is seen trying hard to take on its recovery through the 113.50 barrier, as global growth concerns continue to weigh. Support stands at 113.10 and a fall through could take it to the next support level of 112.90. On the other side resistance stands at the aimed 113.70, and a rise through could challenge 114.00 resistance level.

USDJPY-17-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 113.26 113.29 113.34 113.37 113.42 113.45 113.50
WEEKLY 111.05 111.65 112.52 113.12 113.99 114.59 115.46
MONTHLY 110.53 111.42 112.44 113.33 114.35 115.24 116.26
 

EURUSD

EUR/USD focus on risk sentiment. Support stands at 1.1270, and a break below might indicate further downside movement towards the next support level of 1.1200. On the other side resistance stands at 1.1300, and a rise through could take it to the next resistance level of 1.1350. 

 EURUSD-17-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1292 1.1296 1.1300 1.1304 1.1308 1.1312 1.1316
WEEKLY 1.1060 1.1164 1.1237 1.1341 1.1414 1.1518 1.1591
MONTHLY 1.0901 1.1058 1.1188 1.1345 1.1475 1.1632 1.1762
 

GBPUSD

GBP/USD heads into the new week trading level of 1.2600. The pair is expected to find support at 1.2530 and a fall through could take it to the next support level of 1.2500. On the other side resistance stands at 1.2600, and a rise through could take it to the next resistance level of 1.2630.

  GBPUSD-17-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2546 1.2561 1.2573 1.2588 1.2600 1.2615 1.2627
WEEKLY 1.2170 1.2323 1.2454 1.2607 1.2738 1.2891 1.3022
MONTHLY 1.2142 1.2433 1.2593 1.2884 1.3044 1.3335 1.3495
 

GOLD

Gold has recovered from 10-day lows seen on Friday but may lack clear direction on caution ahead of the FOMC rate decision, due Wednesday. Short term support stands at 1235.00, and a fall through could take it to the next support level of 1220.00. On the other side resistance stands at 1240.00, and a rise through could take it to the next resistance level of 1250.00.

  Gold-17-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1236.51 1238.18 1239.51 1241.18 1242.51 1244.18 1245.51
WEEKLY 1212.96 1224.73 1233.06 1244.83 1253.16 1264.93 1273.26
MONTHLY 1161.34 1181.87 1203.94 1224.47 1246.54 1267.07 1289.14

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