Technical Analysis

EUR/USD off 4-month highs, still firmer above 1.1150

Published on 2019-12-13 10:31 Share

USDJPY

USD/JPY added to the overnight strong gains amid US-China trade optimism. The safe-haven Japanese yen continued with its weakening trend on Friday and pushed the USD/JPY pair to near two-week tops, around the 109.55-60 region in the last hour. USD/JPY is expected to find support at 109.29 and a fall through could take it to the support level of 109.10. On the other side, resistance stands at 109.79 and a rise through could take it to the level of 110.00.

USDJPY-13-12-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 107.60 108.03 108.71 109.14 109.82 110.25 110.93
1 WEEK 106.80 107.61 108.11 108.92 109.42 110.23 110.73
1 MONTH 106.58 107.23 108.37 109.02 110.16 110.81 111.95

 

EURUSD

EUR/USD retreats from four-month highs of 1.1200 reached overnight but remains strongly above 1.1150 as the greenback continues to nurse losses across its main peers, fuelled by a massive GBP rally on PM Johnson's win. EUR/USD is expected to find support at 1.1144 and a fall through could take it further to the support level of 1.1123. On the other side, resistance stands at 1.1184 and a rise through could take it to the next resistance level of 1.1200.

EURUSD-13-12-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1027 1.1065 1.1124 1.1162 1.1221 1.1259 1.1318
1 WEEK 1.0889 1.0946 1.1003 1.1060 1.1117 1.1174 1.1231
1 MONTH 1.0743 1.0862 1.0939 1.1058 1.1135 1.1254 1.1331

 

GBPUSD

GBP/USD rallied hard on a clear majority for Conservatives. The pair now seems to have entered a bullish consolidation phase and was seen oscillating in a narrow trading band, just above mid-1.3400s. GBP/USD is expected to find support at 1.3390 and a fall through could take it to the next support level of 1.3347. On the other side, resistance stands at 1.3512 and a rise through could take it to the next resistance level of 1.3547.

GBPUSD-13-12-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2716 1.2884 1.3179 1.3347 1.3642 1.3810 1.4105
1 WEEK 1.2694 1.2795 1.2966 1.3067 1.3238 1.3339 1.3510
1 MONTH 1.2590 1.2679 1.2807 1.2896 1.3034 1.3113 1.3241

 

GOLD

Gold is losing altitude as investors are buying risk and selling safe havens on trade optimism. The yellow metal, a classic safe-haven asset, is currently trading at $1,466 per Oz, having hit a five-week high of $1,487 in the overnight trade. Gold is expected to find support at 1,463.60 and a fall through could take it to the support level of 1,461.20. On the other side, resistance stands at 1,470.10, and a rise through could take it to the level of 1,472.40.

Gold-13-12-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1439.74 1453.97 1463.14 1477.37 1486.54 1500.77 1509.94
1 WEEK 1423.20 1441.50 1453.30 1471.60 1483.40 1501.70 1513.50
1 MONTH 1370.04 1411.57 1442.14 1483.67 1514.24 1555.77 1586.34

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