EUR/USD

Friday saw plenty of whipsawing in the EURUSD, with the pair making lows of 1.0900 and highs of 1.1040 before settling around 1.100. Major support came in the form of the back of the trend line connecting lower highs from this year’s highs of 1.1375, which saw the pair catapulted to 1.1040. Currently the pair is testing support at 1.0940, with bears eyeing 1.0900 and 1.0850. However, should bulls manage to maintain 1.0950, we would see 1.1000 and 1.1040 being eyed by them for retest.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0976 1.0982 1.0986 1.0992 1.0996 1.1002 1.1006
WEEKLY 1.0647 1.0735 1.0869 1.0957 1.1091 1.1179 1.1313
MONTHLY 1.0100 1.0456 1.0665 1.1021 1.1230 1.1586 1.1795
 

GBP/USD

Cable was driven higher in Friday trade and finally found major resistance at the 50% fib level of 1.4248 before bulls took profits and bears began to re-enter the market. A sustained close above 1.4248 will see bulls extend the current retracement into 1.4300, 1.4350 and 1.4400. However, the longer term bias is still down and should bears manage a close below 1.4100, we could see the GBPUSD look to retest its multi-year lows with interim support at 1.4050, 1.4000 and 1.3950.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4191 1.4201 1.4206 1.4216 1.42221 1.4231 1.4236
WEEKLY 1.3541 1.3687 1.3957 1.4103 1.4373 1.4519 1.4789
MONTHLY 1.2773 1.3303 1.3609 1.4139 1.4445 1.4975 1.5281
 

USD/JPY

USDJPY continues to trade between the H4 50 and 100 EMA and has narrowed further to trade between the H1 50 and 100 EMA. A break above 113.80 could signal bulls have taken control with targets at 114, 114.50 and 115.00. However a break below 113.80 would signal that bears have taken control, with targets at 113.25, 113.00 and 112.50.

USD/JPY

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 113.57 113.67 113.75 113.85 113.93 114.03 114.11
WEEKLY 110.00 111.07 112.42 113.49 114.84 115.91 117.26
MONTHLY 98.10 104.54 108.62 115.06 119.14 125.58 129.66
 

GOLD

Gold highs have been capped at 1280 after a choppy Friday session saw the precious metal dip to support at 1250 before being bid to 1280 in a matter of hours. Currently gold is trading at 1265, with room for both downside and upside movement as the precious metal ranges in anticipation of market momentum. Resistance is at 1269, 1273 and 1280. Support lies at 1257, 1250, 1243.50.

GOLD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1255.10 1257.10 1260.80 1262.80 1266.50 1268.50 1272.20
WEEKLY 1171.06 1194.83 1232.36 1256.13 1293.66 1317.43 1354.96
MONTHLY 1000.36 1057.83 1145.86 1203.33 1291.36 1348.83 1436.86