Technical Analysis

EUR/USD unable to stay above 1.1200 – GBP/USD near 1.2720 amid Brexit anxiety

Published on 2019-05-27 12:03 Share
EURUSD

USDJPY

USD/JPY is flashing green after having registered losses in the previous three trading days. The losing run was likely the result of the escalating trade tensions, resulting haven demand for the Japanese Yen. USD/JPY is expected to find support at 109.37 and a fall through could take it to the support level of 109.26. On the other side, resistance stands at 109.70, and a rise through could take it to the level of 109.92.

USDJPY-27-05-19
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.16 109.22 109.31 109.37 109.46 109.52 109.62
WEEKLY 107.42 108.35 108.83 109.76 110.24 111.17 111.65
MONTHLY 109.09 109.95 110.69 111.55 112.29 113.15 113.89
 

EURUSD

EUR/USD alternates gains with losses around the 1.1200 handle, as the sentiment around the Euro stays mixed early in the European session. The selling pressure around the single currency looks alleviated at the beginning of the week, helped by the results from the EU parliamentary elections, where the Eurosceptic option gained some ground. EUR/USD is expected to find support at 1.1181 and a fall through could take it further to the support level of 1.1163. On the other side, resistance stands at 1.1213, and a rise through could take it to the next resistance level of 1.1227.

EURUSD-27-05-19
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1169 1.1179 1.1193 1.1203 1.1218 1.1227 1.1242
WEEKLY 1.1030 1.1069 1.1137 1.1176 1.1244 1.1283 1.1351
MONTHLY 1.0896 1.1004 1.1110 1.1218 1.1324 1.1432 1.1538
 

GBPUSD

GBP/USD is seen losing the overnight surge to 1.2750, after the pound cheered the early news that the Brexit Party received the highest number of votes in the European Union elections. The UK markets are closed today in observance of Spring Bank holiday. GBP/USD is expected to find support at 1.2683 and a fall through could take it to the next support level of 1.2646. On the other side, resistance stands at 1.2767, and a rise through could take it to the next resistance level of 1.2791.

GBPUSD-27-05-19
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2668 1.2692 1.2707 1.2731 1.2746 1.2770 1.2785
WEEKLY 1.2399 1.2502 1.2608 1.2711 1.2817 1.2920 1.3026
MONTHLY 1.2536 1.2701 1.2868 1.3033 1.3200 1.3365 1.3532
 

GOLD

Gold are on the bids near $1,285.00 while into the European session on Monday amid pessimism surrounding global trade developments and greenback weakness. However, buyers are likely to be challenged as markets in the UK and the US are closed for the day. Gold is expected to find support at 1,280.50 and a fall through could take it to the support level of 1,276.50. On the other side, resistance stands at 1,288.60, and a rise through could take it to the level of 1,292.90.

Gold-27-05-19
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1281.99 1282.82 1283.49 1284.32 1284.99 1285.82 1286.49
WEEKLY 1254.60 1261.80 1272.70 1279.90 1290.80 1298.00 1308.90
MONTHLY 1217.19 1242.62 1263.79 1289.22 1310.39 1335.82 1356.99

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