EUR/USD

The battle of the EURUSD is being fought around this year’s open of 1.0858 with both bulls and bears doing their best to maintain this level. Currently the pair is retesting a push above but finds resistance at the daily pivot. Should bulls manage to capture this level they will look to target 1.0910, 1.0968 and 1.1000. However, should bears manage a close below 1.0850, we would expect them to continue south to 1.0800, 1.0750 and 1.0700.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0776 1.0804 1.0840 1.0868 1.0904 1.0932 1.0968
WEEKLY 1.0624 1.0767 1.0851 1.0994 1.1078 1.1221 1.1305
MONTHLY 1.0425 1.0567 1.0702 1.0844 1.0979 1.1121 1.1256
 

GBP/USD

Cable managed a second day of positive price action but was stopped in its tracks at the 1.4000 resistance level. Currently the pair is trading between resistance at 1.4000 and support at 1.3950 as direction is sought. Should bulls manage to take 1.4000, we would expect them to fight onward to 1.4040, 1.4100 and 1.4150. However, should bears manage to capture the 1.3950 level, coinciding with a cross out of overbought territories by the stochastics, we would see them target 1.3900, 1.3850 and possibly fresh lows at 1.3800.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3784 1.3843 1.3901 1.3960 1.4018 1.4077 1.4135
WEEKLY 1.3238 1.3545 1.3707 1.4014 1.4176 1.4483 1.4645
MONTHLY 1.3209 1.3644 1.3945 1.4380 1.4681 1.5116 1.5417
 

AUD/USD

The AUDUSD has seen range trading of late, albeit a large range from 0.7080 to 0.7250, and is currently retesting the highs of the range. H4 stochastics are well in overbought territories as the pair finds the trend line and a close below 0.7200 will likely set the pair up for a bearish drop to 0.7150, 0.7100 and the lows of the range of 0.7080. However, should bulls manage a close above 0.7250, we could see them reach for 0.7300 to complete a 100% retracement of this year’s losses with further targets at 0.7350 and 0.7400.

AUD/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7041 0.7073 0.7128 0.7160 0.7215 0.7247 0.7302
WEEKLY 0.6928 0.7021 0.7075 0.7168 0.7222 0.7315 0.7369
MONTHLY 0.6695 0.6833 0.6897 0.7125 0.7279 0.7417 0.7571
 

CRUDE OIL

Crude is oscillating around 35 USD as it looks for further direction. Bears will hope to close below 35 and target 34 and 33 which would mean a break below the H1 50 and 100 EMA, if they can turn these levels into resistance, bears will likely use this as a spring board to retest recent lows. However a close above 35.50 will see bulls take control, driving for 36, 36.50 and 37.

CRUDE OIL

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 31.85 32.61 33.24 34.00 34.63 35.39 36.02
WEEKLY 24.74 27.11 29.95 32.32 35.16 37.53 40.37
MONTHLY 14.87 20.53 27.07 32.73 39.27 44.93 51.47