USD/JPY

USD/JPY found bids below the support of the trendline connecting Aug. 26 and Oct. 3 lows on Friday. The USD/JPY pair inched up at 108.28, as Bank of Japan’s monetary policy meeting minutes is due on Wednesday. USD/JPY is expected to find support at 108.13 and a fall through could take it to the support level of 107.98. On the other side, resistance stands at 108.37 and a rise through could take it to the level of 108.54.

USDJPY_04_11_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 108.09 108.14 108.18 108.22 108.26 108.30 108.34
1 WEEK 106.21 107.05 107.62 108.46 109.03 109.87 110.44
1 MONTH 103.76 105.15 107.62 107.94 109.40 110.76 112.22
 

EURUSD

EUR/USD is trading above 1.1150, amid hopes that the US and China may strike a deal later this month. The common currency dipped to a low of 1.1128 during the US trading hours on Friday after the US Nonfarm Payrolls bettered estimates. The drop, however, was short-lived and the currency pair ended the day on a positive note at 1.1165. EUR/USD is expected to find support at 1.1161 and a fall through could take it further to the support level of 1.1152. On the other side, resistance stands at 1.1178 and a rise through could take it to the next resistance level of 1.1204.

EURUSD_04_11_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1154 1.1159 1.1162 1.1167 1.1170 1.1175 1.1178
1 WEEK 1.1000 1.1037 1.1102 1.1139 1.1204 1.1241 1.1306
1 MONTH 1.0659 1.0769 1.0961 1.1071 1.1263 1.1373 1.1565
 

GBPUSD

GBP/USD has kicked off the week above 1.29, holding onto its range. The latest UK elections opinion polls have been showing an ongoing lead for the Conservatives. UK Construction PMI is up next. GBP/USD is expected to find support at 1.2915 and a fall through could take it to the next support level of 1.2898. On the other side, resistance stands at 1.2946 and a rise through could take it to the next resistance level of 1.2959.

GBPUSD_04_11_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2914 1.2920 1.2929 1.2935 1.2944 1.2950 1.2959
1 WEEK 1.2666 1.2736 1.2836 1.2906 1.3006 1.3076 1.3176
1 MONTH 1.1601 1.1898 1.2420 1.2717 1.3239 1.3536 1.4058
 

GOLD

Gold initially stopped the previous three-day rise as weekend comments from the United States’ President Donald Trump and the Trade Secretary Wilbur Ross have been increasing the odds for a phase one trade deal with China. Gold is expected to find support at 1,510.10 and a fall through could take it to the support level of 1,507.30. On the other side, resistance stands at 1,515.60, and a rise through could take it to the level of 1,518.50.

GOLD_04_11_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1512.15 1513.35 1514.25 1515.45 1516.35 1517.55 1518.45
1 WEEK 1454.10 1468.60 1490.00 1504.50 1525.90 1540.40 1561.80
1 MONTH 1417.14 1441.07 1477.94 1501.87 1538.74 1562.67 1599.54