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USDJPY

USD/JPY bounced-off two-week lows and is trading above the 113.00 level due to a broad-based US dollar rebound and BoJ’s Wakatabe dovish remarks. USD/JPY is expected to find support at 112.77, and a fall through could take it to the support level of 112.49. On the other side, resistance stands at 113.29, and a rise through could take it to the level of 113.63.

USDJPY-05-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 111.23 111.90 112.29 112.96 113.35 114.02 114.41
WEEKLY 111.68 112.27 112.87 113.46 114.06 114.65 115.25
MONTHLY 110.53 111.42 112.44 113.33 114.35 115.24 116.26
 

EURUSD

EUR/USD has dropped as low as 1.1316 and is struggling for a rebound, as it remains under pressure amid a rally of the US dollar. The dollar is pushing higher against the euro which indicates is still being treated as a safe haven. EUR/USD is expected to find support at 1.1304 and a fall through could take it further to the support level of 1.1270. On the other side, resistance stands at 1.1355, and a rise through could take it to the next resistance level of 1.1377.

 EURUSD-05-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1203 1.1261 1.1302 1.1360 1.1401 1.1459 1.1500
WEEKLY 1.1118 1.1192 1.1255 1.1329 1.1392 1.1466 1.1529
MONTHLY 1.0901 1.1058 1.1188 1.1345 1.1475 1.1632 1.1762
 

GBPUSD

GBP/USD is in the lows once again, with Brexit-based volatility fuelling the drop, and rising investor fears about a hard Brexit and the upcoming parliamentary vote are keeping the Pound underbid as broader markets seek safe shelter amidst growing fears about a global economic slowdown. GBP/USD is expected to find support at 1.2660 and a fall through could take it to the next support level of 1.2620. On the other side, resistance stands at 1.2728, and a rise through could take it to the next resistance level of 1.2760.

  GBPUSD-05-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2460 1.2560 1.2639 1.2739 1.2818 1.2918 1.2997
WEEKLY 1.2557 1.2641 1.2697 1.2781 1.2837 1.2921 1.2977
MONTHLY 1.2142 1.2433 1.2593 1.2884 1.3044 1.3335 1.3495
 

GOLD

Gold extended its rally for the second straight day on Tuesday and reached its highest level since late October at $1241.80 but lost its momentum. Gold is expected to find support at the level of 1,231.60 and a fall through could take it to 1,226.20 level. On the other side, resistance stands at 1,239.38, and a rise through could take it to the next resistance level of 1,244.00.

  Gold-05-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1225.90 1230.85 1237.50 1242.45 1249.10 1254.05 1260.70
WEEKLY 1198.80 1207.80 1216.90 1225.90 1235.00 1244.00 1253.10
MONTHLY 1161.34 1181.87 1203.94 1224.47 1246.54 1267.07 1289.14