USD/JPY

USD/JPY is steady in today’s open, consolidating overnight price action. The pair tumbled on the back of a surprise spike to the downside in US PMIs which have reminded investors of the fragileness of the global economic backdrop, fueling a flight to safety and the Yen was a top performer. USD/JPY is expected to find support at 107.61 and a fall through could take it to the support level of 107.44. On the other side, resistance stands at 107.96 and a rise through could take it to the level of 108.17.

USDJPY_02_10_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 106.60 107.11 107.44 107.95 108.28 108.79 109.91
1 WEEK 105.99 106.48 107.21 107.70 108.43 108.92 109.65
1 MONTH 103.64 104.69 106.39 107.44 109.14 110.19 111.89
 

EURUSD

EUR/USD on Tuesday eked out a 0.32% gain and could remain better bid Wednesday, courtesy of the heightened US recession fears and the resulting rise in the odds of an October Federal Reserve rate cut. As of writing, EUR/USD is trading largely unchanged on the day at 1.0924. EUR/USD is expected to find support at 1.0905 and a fall through could take it further to the support level of 1.0892. On the other side, resistance stands at 1.0947 and a rise through could take it to the next resistance level of 1.0963.

EURUSD_02_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0831 1.0855 1.0895 1.0919 1.0959 1.0983 1.1022
1 WEEK 1.0764 1.0834 1.0886 1.0956 1.1008 1.1078 1.1130
1 MONTH 1.0593 1.0739 1.0819 1.0965 1.1045 1.1191 1.1271
 

GBPUSD

GBP/USD reacts to early-day headlines increasing the odds of a no-deal Brexit, as media leaks suggest the UK PM Johnson’s final Brexit proposal to the EU seems to have a little acceptance. He made it clear that Britain will not negotiate further should the deal is being rejected by EU and will leave on October 31. GBP/USD is expected to find support at 1.2234 and a fall through could take it to the next support level of 1.2204. On the other side, resistance stands at 1.2305, and a rise through could take it to the next resistance level of 1.2331.

GBPUSD_02_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2086 1.2146 1.2219 1.2280 1.2353 1.2414 1.2486
1 WEEK 1.1972 1.2121 1.2205 1.2354 1.2438 1.2587 1.2671
1 MONTH 1.1348 1.1654 1.1972 1.2278 1.2596 1.2902 1.3220
 

GOLD

Gold failed to remain strong as buyers await fresh signals of recent risk aversion. In doing so, the yellow metal presently declines to $1,475.70 in the European open on Wednesday. The yellow metal bounced off $1,455 on Tuesday as fears of global slowdown unearthed on the back of disappointing activity numbers from the key global economies. Gold is expected to find support at 1,466.80 and a fall through could take it to the support level of 1,458.30. On the other side, resistance stands at 1,1489.90, and a rise through could take it to the level of 1,486.90.

GOLD_02_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1442.45 1453.75 1470.65 1481.95 1498.85 1510.15 1527.05
1 WEEK 1435.36 1464.33 1485.36 1514.33 1535.36 1564.33 1585.36
1 MONTH 1344.50 1407.50 1440.20 1503.20 1535.90 1598.90 1631.60