EUR/USD

EURUSD bears could not hold on to 1.1375 as the pair gently slid for the duration of the day on lackluster news. Currently the pair is looking to retest the H1 50 EMA and 1.1400 resistance areas as bulls look to resume the medium term up trend. Should bulls manage to capture 1.1400, they will look to target 1.1450, 1.1500 and 1.1550. However, should bears recapture 1.1375, they will look to test deeper level with targets at 1.1350 and 1.1300, where we expect key support to be found.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1322 1.1349 1.1366 1.1393 1.1410 1.1437 1.1454
WEEKLY 1.1088 1.1236 1.1321 1.1469 1.1554 1.1702 1.1787
MONTHLY 1.1037 1.1125 1.1290 1.1378 1.1543 1.1631 1.1796
 

GBP/USD

Cable is trading over 350 pips off its recent highs as it seeks support, which may have come in the form of 1.4400. Bulls have defended the area well and are looking to push higher, re-establishing the medium term up trend. Key resistance can be expected at 1.4450-1.4500 as we see the handle accompanied by the 50 and 100 EMA`s forming strong rally points for bears. However, should bears manage to recapture 1.4400, they will try for lower price, targeting 1.4350, 1.4300 and 1.4200.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4259 1.4317 1.4364 1.4422 1.4469 1.4527 1.4574
WEEKLY 1.3943 1.4177 1.4303 1.4537 1.4663 1.4897 1.5023
MONTHLY 1.3520 1.3762 1.4187 1.4427 1.4854 1.5096 1.5521
 

AUD/USD

AUDUSD found strong support at 0.7300 and has subsequently broken above the downward sloping trend line as it looks to retest 0.7350. Given the steep slope of the trend line, it is likely that the down move has not finished yet and bears will look to defend 0.7350, targeting 0.7300, 0.7250 and 0.7200. Should bulls manage to capture 0.7350, they will extend their recent gains with hopes of capturing 0.7400, 0.7450 and 0.7500 as they look to recover some of the more than 500 pip loss they suffered in recent weeks.

AUD/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7201 0.7252 0.7284 0.7335 0.7367 0.7418 0.7450
WEEKLY 0.6842 0.7089 0.7229 0.7476 0.7616 0.7863 0.8003
MONTHLY 0.7100 0.7294 0.7448 0.7642 0.7796 0.7990 0.8144
 

CRUDE OIL

Crude sold off more than 2 USD yesterday as bears defended 46 with gusto, overwhelming bulls to trade lower at 43.50. Currently bulls are making a run for 44, with targets at 44.50, 45 and 45.50. However, bears will look to leverage the h1 50 EMA and back of the trend line, turned resistance, at 45 to try and recoup some of their losses form earlier in the year. Downside targets are at 44, 43 and 42.

CRUDE OIL

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 39.61 41.41 42.34 44.14 45.07 46.87 47.80
WEEKLY 40.28 41.75 43.21 44.68 46.14 47.61 49.07
MONTHLY 26.98 31.11 38.52 42.65 50.06 54.19 61.60