USD/JPY

USD/JPY is trading southwards towards the midpoint of the 107.00 handle, as the risk-off action in the global equities and falling Treasury yields continue to weigh. USD/JPY testing lows near 107.60 amid risk-off as the selling interest around the US dollar remains unabated. USD/JPY is expected to find support at 107.52 and a fall through could take it to the support level of 107.34. On the other side, resistance stands at 107.88 and a rise through could take it to the level of 108.09.

USDJPY_18_07_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.42 107.68 107.81 108.07 108.20 108.46 108.59
WEEKLY 106.28 107.04 107.48 108.24 108.68 109.44 109.88
MONTHLY 104.82 105.80 106.85 107.83 108.88 109.86 110.91


EURUSD

EUR/USD is on the rise as US yields continue to lose ground, amid rising fears of FX intervention by the world's biggest economy. President Trump's recent Dollar-related tweets have triggered speculation that the US may intervene in the FX markets to keep the Greenback from rising. EUR/USD is expected to find support at 1.1226 and a fall through could take it further to the support level of 1.1210 On the other side, resistance stands at 1.1250 and a rise through could take it to the next resistance level of 1.1264.

EURUSD_18_07_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1169 1.1184 1.1204 1.1219 1.1239 1.1254 1.1274
WEEKLY 1.1122 1.1158 1.1215 1.1251 1.1308 1.1344 1.1401
MONTHLY 1.0954 1.1055 1.1212 1.1313 1.1470 1.1571 1.1728


GBPUSD

GBP/USD recovers to 1.2445 in the London open on Thursday. While voting at the House of Commons will be the key, British Retail Sales numbers could also entertain momentum traders amid lack of big data/events from the US. GBP/USD is expected to find support at 1.2425 and a fall through could take it to the next support level of 1.2400. On the other side, resistance stands at 1.2483, and a rise through could take it to the next resistance level of 1.2504.

GBPUSD_18_07_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2316 1.2349 1.2391 1.2424 1.2466 1.2499 1.2541
WEEKLY 1.2342 1.2391 1.2483 1.2532 1.2624 1.2673 1.2765
MONTHLY 1.2260 1.2383 1.2539 1.2662 1.2818 1.2941 1.3097


GOLD

Gold consolidate the rally from overnight, trading at $1420 currently, below the $1,430 high. The move higher took place amid a decline in US yields and on lower equity prices on Wall Street. Overall, the decline in global yields continues to be a key support to gold prices. Gold is expected to find support at 1,413.60 and a fall through could take it to the support level of 1,406.80. On the other side, resistance stands at 1,425.60, and a rise through could take it to the level of 1,428.70.

GOLD_18_07_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1377.79 1389.62 1407.79 1419.62 1437.79 1449.62 1467.79
WEEKLY 1353.41 1370.78 1394.21 1411.58 1435.01 1452.38 1475.81
MONTHLY 1191.06 1250.68 1322.91 1382.53 1454.76 1514.38 1586.61