Technical Analysis

EUR/USD advances above 1.1050 - GBP/USD extends gains to 1.2950

Published on 2019-11-18 11:23 Share
EURUSD-18-11-2019

USD/JPY

USD/JPY is seen treading water around 108.75 region, as a sense of caution prevails in Monday’s trading amid escalating Hong Kong violence. Meanwhile, the US-China trade negotiations continue to remain the central focus, with mixed messages delivered by both sides last week. USD/JPY is expected to find support at 108.74 and a fall through could take it to the support level of 108.58. On the other side, resistance stands at 109.04 and a rise through could take it to the level of 109.18.

USDJPY-18-11-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 108.46 108.56 108.63 108.73 108.79 108.90 108.96
1 WEEK 107.17 107.71 108.23 108.77 109.29 109.83 110.35
1 MONTH 103.76 105.15 107.62 107.94 109.40 110.76 112.22

 

EURUSD

EUR/USD is seen building on its last week’ s recovery above the 1.1050 level, having hit weekly highs at 1.1065 on mild US dollar weakness across the board. The US and China held high-level talks over the weekend and hailed them as "constructive." Several ECB members speak today. EUR/USD is expected to find support at 1.1048 and a fall through could take it further to the support level of 1.1034. On the other side, resistance stands at 1.1073 and a rise through could take it to the next resistance level of 1.1086.

EURUSD-18-11-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1042 1.1045 1.1049 1.1052 1.1056 1.1059 1.1063
1 WEEK 1.0937 1.0963 1.1007 1.1033 1.1077 1.1103 1.1147
1 MONTH 1.0659 1.0769 1.0961 1.1071 1.1263 1.1373 1.1565

 

GBPUSD

GBP/USD is trading around 1.2950, extending its gains. The Conservatives have been extending their gains in polls. PM Johnson and opposition leader Corbyn will address a business conference today. GBP/USD is expected to find support at 1.2925 and a fall through could take it to the next support level of 1.2900. On the other side, resistance stands at 1.2963 and a rise through could take it to the next resistance level of 1.2985.

GBPUSD-18-11-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2892 1.2900 1.2910 1.2919 1.2929 1.2938 1.2948
1 WEEK 1.2670 1.2724 1.2813 1.2867 1.2956 1.3010 1.3099
1 MONTH 1.1601 1.1898 1.2420 1.2717 1.3239 1.3536 1.4058

 

GOLD

Gold takes rounds to $1,468 during early Monday morning with US-China trade optimism confronting geopolitical tension concerning Hong Kong and Iran. Recently mixed messages from the global central bankers add to the safe-haven moves. Gold is expected to find support at 1,459.10 and a fall through could take it to the support level of 1,456.90. On the other side, resistance stands at 1,467.30, and a rise through could take it to the level of 1,471.20.

Gold-18-11-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1466.00 1466.95 1468.25 1469.20 1470.50 1471.45 1472.75
1 WEEK 1422.00 1434.10 1451.30 1463.40 1480.60 1492.70 1509.90
1 MONTH 1417.14 1441.07 1477.94 1501.87 1538.74 1562.67 1599.54

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