EUR/USD

EURUSD is trading in the upper half of its 1.0800 support and the 1.0900 resistance zone consolidation after managing a clear break above the 1.0850 level. Upside targets are at 1.0875, 1.0900 and 1.0920, which would take the pair above last weeks pre ECB levels. A failure to break 1.0875 would see bears retest 1.0850 with an eye on 1.0825, 1.0800 and this months lows of 1.07768.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
INTRADAY 1.0821 1.0831 1.0839 1.0849 1.0857 1.0867 1.0875
DAILY 1.0734 1.0760 1.0806 1.0832 1.0878 1.0904 1.0950
WEEKLY 1.0523 1.0650 1.0724 1.0854 1.0925 1.1052 1.1126
MONTHLY 1.0058 1.0298 1.0579 1.0819 1.1100 1.1340 1.1621
 

GBP/USD

The GBPUSD turned south and is currently testing our second target level of 1.4205. A break below this would see more trouble for GBPUSD bulls as bears target 1.4150, 1.40788 and 1.4000 to continue the scratching out of multi year lows. However should 1.4205 hold, we would see 1.4250, 1.4300 being eyed by the bulls as they try to recapture last weeks high of 1.4362.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
INTRADAY 1.4191 1.4205 1.4214 1.4228 1.4237 1.4251 1.4260
DAILY 1.4115 1.4168 1.4205 1.4258 1.4295 1.4348 1.4385
WEEKLY 1.3823 1.3951 1.4108 1.4236 1.4393 1.4521 1.4678
MONTHLY 1.4044 1.4383 1.4561 1.4900 1.5078 1.5417 1.5595
 

USD/JPY

The pair is currently retesting yesterdays second downside target of 117.85 after pulling back 100 pips from its 18.85 highs. Further downside is expect with 117.50, 117.25 and 116.75 as targets. However should bulls hold 117.85 we would see them attempt a close above 118.10 where bears will be waiting for the battle to decide on whether the USDJPY will reach its targets of 118.64, 118.85 and 119.00 or continue south.

USD/JPY

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
INTRADAY 117.61 117.79 117.92 118.10 118.23 118.41 118.54
DAILY 117.28 117.72 117.98 118.42 118.68 119.12 119.38
WEEKLY 113.94 114.95 116.87 117.488 119.80 120.81 122.73
MONTHLY 115.28 117.63 118.98 121.33 122.68 125.03 126.38
 

CRUDE OIL

Crude has found support for the moment at $30 after sliding 10% from $33 after the 4hr 100 EMA stood as a rally point for bears who were eager to put an end to the 2 day rally which saw crude gain $5 in a short squeeze. The outlook for crude is still bearish as the trend appears to have re-established itself with targets at $29.00, $28.00 and SEP 2003 lows of $27.00. However, should bulls breach $31.00, we could see further upside to retest the $32.00 and $33.00 resitance levels.

CRUDE OIL

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
INTRADAY 28.95 29.23 29.37 29.65 29.78 30.03 30.20
DAILY 25.66 27.67 28.72 30.73 31.78 33.79 34.84
WEEKLY 21.97 24.08 28.13 30.24 34.29 36.40 40.45
MONTHLY 25.02 29.50 33.27 37.75 41.52 46.00 49.77