EUR/USD

The pair has been trading in a narrow range since Friday after experiencing severe whipsaw which saw the EURUSD test 1.1000 before reversing to above 1.1100 and back to the midpoint around 1.1050, where the battle for direction will be fought. 1.1055 makes for the top of the range and bulls will be looking to break through in hopes of making higher highs with targets at 1.1075, 1.1100 and 1.1125. To the downside, 1.1035 has formed the lower band and bears will look to close below this level with hopes of targeting 1.1025, 1.1000 and 1.0975.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1028 1.1035 1.1040 1.1047 1.1052 1.1059 1.1064
WEEKLY 1.0789 1.0897 1.0975 1.1080 1.1161 1.1266 1.1347
MONTHLY 1.0339 1.0624 1.0864 1.1149 1.1389 1.1674 1.1914
 

GBPUSD

Cable bears where resilient at 1.300, yet again rejecting any bullish advancements as they defended the 61.8 fibo with conviction. Currently the pair is forming an ascending triangle and breakout is imminent with a break below 1.2900 likely to see bears target 1.2850, 1.2800 and 1.2750. However, should bulls manage to break above the top trend line and successfully close above 1.3000, we would see them target 1.3050, 1.3100 and 1.3150.


GBPUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2912 1.2923 1.2932 1.2943 1.2952 1.2963 1.2972
WEEKLY 1.2176 1.2486 1.2721 1.3031 1.3266 1.3576 1.3811
MONTHLY 1.0706 1.1912 1.2611 1.3817 1.4516 1.5722 1.6421
 

AUDUSD

The pair peeked at 0.7575 after a retest by bulls was foiled by bearish advancement. Currently the pair has pulled back to the 0.7550 zone as bulls look geared to retest the highs, should they manage to capture 0.7575 then we expect bulls to make a run for 0.7600, 0.7625 and 0.7650. However, should bears manage to hold 0.7550 and make a new low below 0.7540, we will see them target 0.7525, 0.7500 and 0.7475.


AUDUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7541 0.7549 0.7553 0.7561 0.7565 0.7573 0.7577
WEEKLY 0.7288 0.7346 0.7457 0.7515 0.7626 0.7684 0.7795
MONTHLY 0.6767 0.6983 0.7217 0.7433 0.7667 0.7883 0.8117
 

GOLD

Gold has formed a descending triangle after bears managed to recoup some of last week losses and is poised to retest to the upside if bulls mange to drive price above 1370. Upside targets are at 1375, 1380 and 1390. Support can be found at 1360, 1355 and 1350.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1358.29 1362.92 1367.14 1371.77 1375.99 1380.62 1384.84
WEEKLY 1296.20 1351.60 1336.10 1355.50 1376.00 1395.40 1415.90
MONTHLY 1080.46 1142.93 1230.66 1293.13 1380.86 1443.33 1531.06