Technical Analysis

EUR/USD holding on above 1.1200 – GBP/USD near 1.2540

Published on 2019-06-18 12:28 Share
EURUSD-18-06-2019

USD/JPY

USD/JPY has shed 30 pips in the session so far as the US dollar is losing ground against most majors. The currency pair is currently trading at 108.22, with the Dollar on the defensive, possibly due to dovish Fed expectations. USD/JPY is expected to find support at 108.13 and a fall through could take it to the support level of 107.94. On the other side, resistance stands at 108.40, and a rise through could take it to the level of 108.59.

 

USDJPY-18-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.25 108.38 108.47 108.60 108.69 108.82 108.90
WEEKLY 107.56 107.86 108.21 108.51 108.86 109.16 109.51
MONTHLY 103.74 106.01 107.15 109.42 110.56 112.83 113.97

EURUSD

EUR/USD moves to the 1.1240/45 band, as bid tone surrounding the shared currency remains well and sound so far this week. US-China trade tensions and rumours on potential rate cut by the Fed in the near term continue to be the exclusive drivers of the markets’ sentiment for the time being. EUR/USD is expected to find support at 1.1214 and a fall through could take it further to the support level of 1.1200 On the other side, resistance stands at 1.1254, and a rise through could take it to the next resistance level of 1.1275.

 

EURUSD-18-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1161 1.1182 1.1203 1.1225 1.1246 1.1268 1.1289
WEEKLY 1.1016 1.1109 1.1159 1.1252 1.1302 1.1395 1.1445
MONTHLY 1.0936 1.1022 1.1095 1.1181 1.1254 1.1340 1.1413

GBPUSD

GBP/USD trades near 1.2540 as the political pessimism and renewed gloom surrounding the UK economy, due to likely hard Brexit have weakened the Pound. Investors may now emphasize the outcome of conservative voting, Bank of England (BOE) Governor Mark Carney’s speech at the ECB Forum. GBP/USD is expected to find support at 1.2509 and a fall through could take it to the next support level of 1.2488. On the other side, resistance stands at 1.2567, and a rise through could take it to the next resistance level of 1.2588.

 

GBPUSD-18-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2443 1.2488 1.2515 1.2560 1.2587 1.2632 1.2660
WEEKLY 1.2348 1.2464 1.2528 1.2644 1.2708 1.2824 1.2888
MONTHLY 1.1782 1.2170 1.2401 1.2789 1.3020 1.3408 1.3639

GOLD

Gold prices rose to $1347.80 in the European session, as risk-off intensifies. US housing market numbers, political noises surrounding the UK, trade woes, and geopolitics will be closely analyzed for fresh impulse. Gold is expected to find support at 1,340.10 and a fall through could take it to the support level of 1,335.20. On the other side, resistance stands at 1,351.985, and a rise through could take it to the level of 1,355.60.

 

GOLD-18-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1327.45 1332.05 1337.65 1342.25 1347.85 1352.45 1358.05
WEEKLY 1284.70 1301.90 1321.00 1338.20 1357.30 1374.50 1393.60
MONTHLY 1240.84 1254.07 1279.94 1293.17 1319.04 1332.27 1358.14

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