USDJPY

USD/JPY is currently trading at 108.21, retracting from a session high of 108.60 in early Asia, possibly following the decline in the S&P 500 futures seen earlier today. USD/JPY could drop well below 108.00 if the futures turn negative. USD/JPY is expected to find support at 107.69, and a fall through could take it to the support level of 107.15. On the other side, resistance stands at 108.86, and a rise through could take it to the level of 109.40.

USDJPY-07-01-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.96 108.16 108.35 108.55 108.74 108.94 109.13
WEEKLY 100.06 102.53 105.53 108.00 111.00 113.47 116.47
MONTHLY 103.83 106.69 108.14 111.00 112.45 115.31 116.76

 

EURUSD

EUR/USD pair is currently trading close to 1.1415 as the pair picked up a bid in Asia at a low of 1.1395 amid broad-based USD weakness. The dovish Fed expectations have favored the EUR rally, after Fed's Powell speech on Friday. EUR/USD is expected to find support at 1.1380 and a fall through could take it further to the support level of 1.1345. On the other side, resistance stands at 1.1449, and a rise through could take it to the next resistance level of 1.1484. 

EURUSD-07-01-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1375 1.1383 1.1396 1.1405 1.1418 1.1427 1.1440
WEEKLY 1.1049 1.1179 1.1287 1.1417 1.1525 1.1655 1.1762
MONTHLY 1.1111 1.1189 1.1330 1.1408 1.1549 1.1627 1.1768

 

GBPUSD

GBP/USD is trading close to 1.2745 heading into the London market session for Monday, and even though broader market sentiment is improving, Brexit concerns remain the key driver of the Sterling as the UK's parliament gears up for a vote on May's Brexit withdrawal proposal. GBP/USD is expected to find support at 1.2683 and a fall through could take it to the next support level of 1.2635. On the other side, resistance stands at 1.2800, and a rise through could take it to the next resistance level of 1.2830.

GBPUSD-07-01-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2697 1.2708 1.2719 1.2730 1.2742 1.2752 1.2764
WEEKLY 1.2133 1.2286 1.2508 1.2661 1.2884 1.3036 1.3259
MONTHLY 1.2179 1.2328 1.2543 1.2692 1.2907 1.3056 1.3271

 

GOLD

Gold is likely benefitting from the weak tone in the dollar, but the gains, however, could be capped as the risk assets are cheering China's rate cut and easing US-China trade tensions. Gold is expected to find support at the level of 1,283.40 and a fall through could take it to 1,277.80 level. On the other side, resistance stands at 1,295.70, and a rise through could take it to the next resistance level of 1,302.10.

Gold-07-01-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1283.06 1284.38 1285.11 1286.43 1287.16 1288.48 1289.21
WEEKLY 1254.30 1266.25 1276.45 1288.40 1298.60 1310.55 1320.75
MONTHLY 1183.20 1204.90 1243.10 1264.80 1303.00 1324.70 1362.90