USDJPY

USD/JPY has dropped from the early December highs of the 114.00 handle and has been sliding as stock markets put on a show into year end. The pair is trading at 110.39 in a standstill and likely yen will remain on the bid for the end of 2018. USD/JPY has been broadly offered due to risk-off sentiment as we head into 2019. USD/JPY is expected to find support at 110.12, and a fall through could take it to the support level of 109.80. On the other side, resistance stands at 110.83, and a rise through could take it to the level of 111.07.

USDJPY-31-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.11 110.19 110.26 110.34 110.41 110.49 110.56
WEEKLY 108.30 109.15 109.72 110.57 111.14 111.99 112.56
MONTHLY 110.53 111.42 112.44 113.33 114.35 115.24 116.26

 

 

EURUSD

EUR/USD is seeing some downside play in thin Asian markets, trading at 1.1427 as the major pair struggles within trading ranges established late last week. Broader markets remain sedate and volumes steeply decreased as investors pull back for the year's end. Euro is heading into 2019 on mixed tones as the European continent grapples with an array of economic headwinds, from Italy's lagging budget concerns to Brexit, as well as threats of a global economic slowdown, and soured market sentiment. EUR/USD is expected to find support at 1.1412 and a fall through could take it further to the support level of 1.1385. On the other side, resistance stands at 1.1453, and a rise through could take it to the next resistance level of 1.1485. 

EURUSD-31-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1429 1.1432 1.1435 1.1438 1.1441 1.1444 1.1447
WEEKLY 1.1224 1.1283 1.1360 1.1419 1.1496 1.1555 1.1632
MONTHLY 1.0901 1.1058 1.1188 1.1345 1.1475 1.1632 1.1762

 

GBPUSD

GBP/USD continues to play into the middle, being constrained well below the 1.2700 zone for several weeks after Brexit ground to a halt for the holidays, but January's upcoming action will see Pound traders continuing to get hammered, as a parliamentary no-confidence vote in Prime Minister Theresa May is expected in the coming weeks. Monday sees little action for the Cable on the economic calendar, and markets are set for the New Year's shutdown. GBP/USD is expected to find support at 1.2670 and a fall through could take it to the next support level of 1.2645. On the other side, resistance stands at 1.2705, and a rise through could take it to the next resistance level of 1.2738.

GBPUSD-31-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2669 1.2679 1.2684 1.2694 1.2699 1.2709 1.2714
WEEKLY 1.2506 1.2561 1.2634 1.2689 1.2762 1.2817 1.2890
MONTHLY 1.2142 1.2433 1.2593 1.2884 1.3044 1.3335 1.3495

 

GOLD

Gold prices edged down on Monday in Asia, now trading at 1,279.21 as U.S. President Donald Trump sent positive signals to ease U.S.-China tensions, undermining the appeal of the safe-haven asset. Entering a new year, market watchers will continue to follow closely the trade talks between China and the U.S. to look for cues, and Congress will reconvene after the holidays to address the partial government shutdown. Gold is expected to find support at the level of 1,273.84 and a fall through could take it to 1,265.51 level. On the other side, resistance stands at 1,282.50, and a rise through could take it to the next resistance level of 1,297.04.

Gold-31-12-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1279.31 1280.28 1281.16 1282.13 1283.01 1283.98 1284.86
WEEKLY 1242.40 1251.20 1267.10 1275.90 1291.80 1300.60 1316.50
MONTHLY 1161.34 1181.87 1203.94 1224.47 1246.54 1267.07 1289.14