USDJPY

USD/JPY is currently trading in the red at 109.77, having bounced to 110.05 earlier today from the overnight low of 109.47 on renewed hopes of the US-China trade deal. However, the pair reversed the corrective bounce, tracking the decline in the S&P 500 futures. USD/JPY is expected to find support at 109.45 and a fall through could take it to the support level of 109.20. On the other side, resistance stands at 110.00, and a rise through could take it to the level of 110.24.

 

USDJPY-10-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.91 109.19 109.52 109.80 110.13 110.41 110.74
WEEKLY 109.95 110.50 110.81 111.36 111.67 112.22 112.53
MONTHLY 109.09 109.95 110.69 111.55 112.29 113.15 113.89

 

EURUSD

EUR/USD is prolonging its gradual up move so far this week, managing to reclaim the key barrier at 1.1200 and currently attempting to consolidate this breakout in a context of renewed weakness surrounding the Dollar. Trade talks are expected to continue today in Washington between US and Chinese negotiators at the time where fresh US tariffs are seen kicking in today. EUR/USD is expected to find support at 1.1202 and a fall through could take it further to the support level of 1.1181. On the other side, resistance stands at 1.1238, and a rise through could take it to the next resistance level of 1.1253. 

 

EURUSD-10-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1100 1.1137 1.1178 1.1215 1.1256 1.1293 1.1334
WEEKLY 1.1003 1.1069 1.1135 1.1201 1.1267 1.1333 1.1399
MONTHLY 1.0896 1.1004 1.1110 1.1218 1.1324 1.1432 1.1538

 

GBPUSD

GBP/USD is trading around 1.300 handle, as risk-on during early negotiation phase between the US and China capped the pair’s up move. Buyers cheered positive headlines to the UK PM Theresa May’s position and Dollar’s weakness in Thursday, pushing the pair over the 1.3030 level, however the US-China trade talks turned market sentiment. GBP/USD is expected to find support at 1.2976 and a fall through could take it to the next support level of 1.2939. On the other side, resistance stands at 1.3034, and a rise through could take it to the next resistance level of 1.3059.

 

GBPUSD-10-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2905 1.2937 1.2973 1.3005 1.3042 1.3073 1.3110
WEEKLY 1.2721 1.2813 1.2994 1.3086 1.3267 1.3359 1.3540
MONTHLY 1.2536 1.2701 1.2868 1.3033 1.3200 1.3365 1.3532

 

GOLD

Gold was trading largely unchanged at $1,285 per Oz earlier in the session, but now has dropped to $1,283.90 level in a confused state with respect to US-China trade developments. The two-way business indicates the markets are alternating between risk-on and risk-off. Gold is expected to find support at 1,280.15 and a fall through could take it to the support level of 1,276.80. On the other side, resistance stands at 1,287.00, and a rise through could take it to the level of 1,290.25.

 

Gold-10-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1271.59 1276.02 1280.29 1284.72 1288.99 1293.42 1297.69
WEEKLY 1247.21 1257.33 1268.81 1278.93 1290.41 1300.53 1312.01
MONTHLY 1217.19 1242.62 1263.79 1289.22 1310.39 1335.82 1356.99