Technical Analysis

Gold Prices Slide as Dollar Rises On Higher U.S. Yields

Published on 2018-04-20 09:41 Share

USDJPY

USD/JPY pair rose to 107.73 earlier today - the highest level since April. A clear break above 107.75 level might lead towards 108.00 resistance area. On the other side short term support stands at 107.50 and a break below might lead to 106.60 area.

USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.03 107.14 107.30 107.41 107.57 107.68 107.84
WEEKLY 105.53 106.07 106.70 107.24 107.87 108.41 109.04
MONTHLY 102.04 103.30 104.79 106.05 107.54 108.80 110.29
 

EURUSD

EUR/USD continues trade just above the 1.2350 level with significant support just below at 1.2300. A clear break above1.2350, might indicate upside movement towards 1.2400 area. On the other side a breakout below 1.2300 might lead to retracement to 1.2245 area.

  EURUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2245 1.2287 1.2316 1.2358 1.2387 1.2429 1.2458
WEEKLY 1.2127 1.2194 1.2263 1.2330 1.2399 1.2466 1.2535
MONTHLY 1.1836 1.1995 1.2159 1.2318 1.2482 1.2641 1.2805
 

GBPUSD

GBP/USD is trading on the bottom heading into the European markets near 1.4075. Short term support holds at 1.4060 and a clear break below might indicate downside movement towards 1.4000 support level. A clear break above the level of 1.4100 might indicate furthermore uptrend movement to the highest levels 1.4150.

  GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3844 1.3957 1.4020 1.4133 1.4196 1.4309 1.4372
WEEKLY 1.3891 1.3984 1.4112 1.4205 1.4333 1.4426 1.4554
MONTHLY 1.3205 1.3459 1.3738 1.3992 1.4271 1.4525 1.4804
 

GOLD

Gold prices were trading lower as the U.S. dollar rose amidst higher 10-year U.S. treasury yields. Short term support stands at 1340 and a clear break below will target 1333 handle. Resistance stands at 1347 and a clear break above that level might lead to upside movement to the next level of 1350.

  GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1326.20 1334.70 1340.70 1349.20 1355.20 1363.70 1369.70
WEEKLY 1289.56 1309.83 1328.86 1349.13 1368.16 1388.43 1407.46
MONTHLY 1250.24 1279.77 1303.54 1333.07 1356.84 1386.37 1410.14

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