EUR/USD

EURUSD was driven to 1.0985 in early US trade but beat a hasty retreat to just above 1.0900 by close, and continued to sell off in early trade today. The pair is testing the upward sloping trend line which coincides with the 1.08780 support zone. A close above 1.0900 will open the way for 1.0940, 1.09794 and 1.1010. A close below 1.08780 will see further weakness as the bears look to test lower with targets at 1.0860, 1.0835 and 1.0810.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
INTRADAY 1.0847 1.0861 1.0877 1.0891 1.0907 1.0921 1.0937
DAILY 1.0886 1.0897 1.0907 1.0915 1.0928 1.0939 1.0949
WEEKLY 1.0633 1.0718 1.0817 1.0902 1.1001 1.1086 1.1185
MONTHLY 1.0058 1.0298 1.0579 1.0819 1.1100 1.1340 1.1621
 

GBP/USD

The pair could not break below Fridays lows and has found support at 1.4247 with upside momentum breaking above the 1.4300 but without conviction as bears look to defend this zone, which coincides with the 24 period 1 hour EMA. Further weakness is expected as bears look to test lows not seen since 2010. Support is at 1.4247, 1.4232 and 1.4200. Resistance is at 1.4300, 1.4340 and 1.4360.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
INTRADAY 1.4208 1.4228 1.4246 1.4266 1.4284 1.4304 1.4322
DAILY 1.4232 1.4241 1.4257 1.4266 1.4282 1.4291 1.4307
WEEKLY 1.3775 1.4011 1.4135 1.4371 1.4495 1.4731 1.4845
MONTHLY 1.4044 1.4383 1.4561 1.4900 1.5078 1.5417 1.5595
   

GOLD

Gold is trading just below its daily and weekly pivot points which could set the tone for the precious metal. Targets to the down side are 1086.50, 1080.00 and last week’s low of 107.50. Targets to the upside are at 1093.00, 1097.00 and the 1100 handle.

GOLD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
INTRADAY 1083.86 1086.33 1088.36 1090.83 1092.86 1095.33 1097.36
DAILY 1086.80 1087.70 1089.00 1089.90 1091.20 1092.10 1093.40
WEEKLY 1039.96 1056.83 1074.16 1091.03 1108.36 1125.23 1142.56
MONTHLY 985.46 1015.83 1038.06 1068.43 1090.66 1121.03 1143.26
 

CRUDE OIL

Crude is retesting the $30 mark which is now acting as resistance after crude broke below it in Fridays session. The commodity continued making new multiyear lows this morning as it fell to 29.38 and is taking a breather before the existing trend is expected to continue. Resistance can be found at 30.35, 31.00 and 31.50. Support can be found at 29.60, 29.38 and 29.00.

CRUDE OIL

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
INTRADAY 28.79 29.23 29.45 29.89 30.11 30.55 30.77
DAILY 27.86 28.61 29.18 29.93 30.50 31.25 31.82
WEEKLY 23.89 26.51 27.96 30.58​ 32.03 34.65 36.10
MONTHLY 25.02 29.50 33.27 37.75 41.52 46.00 49.77