EUR/USD

The pair continues its range bound trading as we see bears maintain the high of 1.1285 while bulls maintain the low of 1.1200. We are seeing an extended consolidation period which with every passing day has and will increase the probabilities of a volatile breakout which will span for several hundred pips. Bull’s will look to break above 1.1285 with an eye on 1.1500 while bears will look to capture 1.1200 with an eye on 1.0900. In the meantime selling resistance and buying support could yield a pretty return as it has for the last few days. Support is currently at 1.1235 and 1.12250 while resistance is at 1.1250 and 1.1275.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1147 1.1177 1.1214 1.1244 1.1281 1.1311 1.1348
WEEKLY 1.0945 1.1041 1.1137 1.1233 1.1329 1.1425 1.1521
MONTHLY 1.0687 1.0865 1.1011 1.1189 1.1335 1.1513 1.1659
 

GBPUSD

Bears successfully retested 1.3150 and managed to peek at 1.3135 before bulls resurged at relatively bargain prices to take the pair bid. With the short term trend still bearish and the pair retesting strong support at the 1.3250 level, we would expect that if this level holds, to see bears throw out all the stops as they look to test the 1.3000 handle. However, should bulls recapture 1.3250, they will look to capture 1.3275, 1.3300 and 1.3350 to negate the bearish bias and give themselves a fighting chance for a deeper retracement of their post Brexit losses.


GBPUSD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3060 1.3098 1.3166 1.3204 1.3272 1.3310 1.3378
WEEKLY 1.2973 1.3105 1.3186 1.3318 1.3399 1.3531 1.3612
MONTHLY 1.2367 1.2615 1.2876 1.3124 1.3385 1.3633 1.3894
 

AUDUSD

The pair has stalled at the 0.7450 support zone, and we can see the makings of a triple bottom as bulls absorb wave after wave of bearish attacks. Bulls only need to secure 0.7475, to confirm the pattern with 0.7500, 0.7525 and 0.7550 providing the targets for the move. However, should bears manage to sneak below 0.7450, we would see a dynamic move down as stops are hit and the pair slides to support at 0.7425, 0.7400 and 0.7375.


AUDUSD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7394 0.7421 0.7446 0.7473 0.7498 0.7525 0.7550
WEEKLY 0.7269 0.7401 0.7471 0.7603 0.7673 0.7805 0.7875
MONTHLY 0.7146 0.7317 0.7418 0.7589 0.7690 0.7861 0.7962
 

GOLD

Gold has a lazy EU and US session as we saw the precious metal leisurely oscillate between 1320 and 1325. With the short term down trend still intact we expect to see bears attack 1320 with hopes of triggering any stops below to reignite a move down with targets at 1315, 1310 and 1305. On the other hand, should bulls capture 1325, we would see them look for a way through the barrage of resistance as they look to tag 1330, 1335 and 1340.


GOLD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1308.10 1314.00 1317.50 1323.40 1326.90 1332.80 1336.30
WEEKLY 1291.40 1307.30 1318.70 1334.60 1346.00 1361.90 1373.30
MONTHLY 1227.10 1266.70 1286.80 1326.40 1346.50 1386.10 1406.20