EUR/USD

EURUSD has been trading between 1.1350 and 1.1450 for over 6 days and is currently retesting the bottom of the range after bears successfully defended 1.1450. Bears will be looking to extend their gains and break out of the range by first capturing 1.1350, which is a significant support zone with the H4 Bollinger band, 50 EMA and past support giving bulls plenty to defend. A break below 1.1350 will open the way for 1.1300, 1.1250 and 1.1200. However, should bulls recapture 1.1375, we would see them regain some momentum as they look to retest the top of the range with interim targets at 1.1400 and 1.1425

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1203 1.1269 1.1323 1.1389 1.1443 1.1509 1.1563
WEEKLY 1.0934 1.1044 1.1217 1.1327 1.1500 1.1610 1.1783
MONTHLY 1.0409 1.0616 1.0998 1.1205 1.1587 1.1794 1.2176
 

GBP/USD

The pair is currently trading at 1.4070 after several attempts to break below 1.4050, which is proving to be a rallying point for bulls as they badger any bears coming near it. The same can be said for 1.4100 which bears have chosen as their rally point as they continue to look for ways lower. A sustained close above 1.4100 will have bears retreating and more bulls joining the party as we see them target 1.4150, 1.4200 and 1.4240. However, the bias is to the downside with 1.4100 now fortified by the H4 50 EMA and the stochastics moving swiftly into overbought territories making our targets to the downside more likely to be reached. Downside targets are at 1.4000, 1.3950 and 1.3900.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3900 1.3972 1.4015 1.4087 1.4130 1.4202 1.4245
WEEKLY 1.3738 1.3929 1.4077 1.4268 1.4416 1.4607 1.4755
MONTHLY 1.3399 1.3652 1.4008 1.4261 1.4617 1.4870 1.5226
 

USD/JPY

USDJPY was driven lower for a 7th consecutive day as the JPY proves too strong for the USD to maintain. The pair found some support just above the 107.50 area and is currently on the way to testing 108.50 after bears successfully defended 109.00. Targets to the downside are at 108.00, 107.50 and 107.00. Upside targets, should bulls manage to capture 109.00, are at 109.50, 110.00 and 110.50.

USD/JPY

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 105.11 106.39 107.30 108.58 109.49 110.77 111.68
WEEKLY 108.71 110.15 110.93 112.37 113.15 114.59 115.37
MONTHLY 106.71 108.69 110.60 112.58 114.49 116.47 118.3
 

AUD/USD

AUDUSD bears have finally come to the party and the pair has been driven more than 200 pips lower from recent highs as we see 0.7500 being tested. The current outlook is for further downside with an evening star forming at the H1 50 EMA and overbought stochastics crossing lower. Bears will be targeting 0.7500, 0.7450 and 0.7400. However, should bulls manage to recapture 0.7550, we would see them target 0.7600 and 0.7650 as they hope to continue to new highs.

AUD/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7296 0.7392 0.7448 0.7544 0.7600 0.7696 0.7752
WEEKLY 0.7300 0.7395 0.7532 0.7627 0.7764 0.7859 0.7996
MONTHLY 0.6647 0.6876 0.7267 0.7496 0.7887 0.8116 0.8507