EUR/USD

The EURUSD has found support on the hourly 100 EMA as bulls spring boarded above the 1.1100 zone. Bulls look poised to retest Thursday highs and will be targeting 1.1150, 1.1200 and 1.1250 to try preserve their recent momentum. However, should bears recapture 1.1100 we will expect them to target 1.1050 which will be well defended by bulls as we see the H4 50 and 100 EMAs in this area. Further downside targets are at 1.1000 and 1.0950.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0954 1.1014 1.1057 1.1117 1.1160 1.1220 1.1263
WEEKLY 1.0508 1.0664 1.0908 1.1064 1.1308 1.1464 1.1708
MONTHLY 1.0100 1.0456 1.0665 1.1021 1.1230 1.1586 1.1795
 

GBP/USD

Cable has retraced more than 50% of last week’s gains and is currently testing major support at the 1.4250 area, we see the H1 50 and 100 EMA`s confluence at the 1.4200 zone, which will see bulls ready to defend further downside beyond 1.4200. Upside targets are at 1.4285, 1.4350 and 1.4400. A Recapture of 1.4200 will see the pair driven to 1.4150 and beyond as bears take control and the longer term trend is re-established.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4121 1.4197 1.4239 1.4315 1.4357 1.4433 1.4475
WEEKLY 1.3868 1.3992 1.4190 1.4314 1.4512 1.4636 1.4834
MONTHLY 1.2773 1.3303 1.3609 1.4139 1.4445 1.4975 1.5281
 

USD/CAD

The USDCAD closed just above the 1.3200 support zone which bears could not hold. Bulls have since taken control and are yet again testing the H4 50 EMA, which has proven good resistance for the whole of last week. Should bulls capture 1.3350 with conviction, we will see them try for the 100 EMA with interim targets at 1.3400 and 1.3450. However, bears will be eager to hold on to recent gains and defending 1.3350 will give them momentum in trying for 1.3300 and giving 1.3200 another go as they look to extend their multi-week lows.

USD/CAD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3121 1.3165 1.3221 1.3265 1.3321 1.3365 1.3421
WEEKLY 1.2818 1.29914 1.3101 1.3274 1.3384 1.3557 1.3667
MONTHLY 1.2687 1.3083 1.3311 1.3707 1.3935 1.4331 1.4559
 

CRUDE OIL

Crude bulls have been stopped at the 50% fibo as bear defend the 40 handle with ferocity. Though bulls have manage to stage a 40 plus percent comeback from this year’s highs, it looks like the pressure of the dominant downward trend is beginning to show and bears will be looking to recapture 35.50 as they try entice further sellers and a deter buyers. Upside resistance is at 38.50, 39.50, 40.20. Support is at 37.50. 36.50 and 35.50.

CRUDE OIL

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 34.30 35.49 36.39 37.58 38.48 39.67 40.57
WEEKLY 33.79 34.94 36.72 37.87 39.65 40.80 42.58
MONTHLY 14.87 20.53 27.07 32.73 39.27 44.93 51.47