USD/JPY

USD/JPY reversed an early session dip to sub-107.00 levels and has now turned higher for the day, recovering a part of the overnight modest slide. Renewed trade pessimism prompted selling yesterday, however, fading safe-haven demand helped limit any further losses. USD/JPY is expected to find support at 106.92 and a fall through could take it to the support level of 106.83. On the other side, resistance stands at 107.32 and a rise through could take it to the level of 107.46.

USDJPY_09_10_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 106.07 106.44 106.70 107.07 107.32 107.70 107.95
1 WEEK 104.14 105.31 106.13 107.30 108.12 109.29 110.89
1 MONTH 103.64 104.69 106.39 107.44 109.14 110.19 111.89
 

EURUSD

EUR/USD stands at 1.0957 with marginal gains on the day, having found bids below the 200-hour MA support, during Tuesday's US trading hours. The bid tone around the US Dollar weakened, allowing a bounce in from the 200-hour MA support at 1.0947, possibly due to comments by Fed’s Powell that central bank’s balance sheet will soon expand again. Powell also left the doors open for another interest rate cut this month. EUR/USD is expected to find support at 1.0946 and a fall through could take it further to the support level of 1.0931. On the other side, resistance stands at 1.0974 and a rise through could take it to the next resistance level of 1.0989.

EURUSD_09_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0880 1.0910 1.0935 1.0966 1.0991 1.1022 1.1047
1 WEEK 1.0783 1.0831 1.0905 1.0953 1.1027 1.1075 1.1149
1 MONTH 1.0593 1.0739 1.0819 1.0965 1.1045 1.1191 1.1271
 

GBPUSD

GBP/USD now seems to have entered a bearish consolidation phase and was seen oscillating in a narrow band just above one-month lows set in the previous session. News that Brexit talks were close to breaking down prompted some aggressive selling yesterday. GBP/USD is expected to find support at 1.2181 and a fall through could take it to the next support level of 1.2156. On the other side, resistance stands at 1.2237, and a rise through could take it to the next resistance level of 1.2350.

GBPUSD_09_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2070 1.2133 1.2177 1.2240 1.2284 1.2347 1.2391
1 WEEK 1.2015 1.2111 1.2222 1.2318 1.2429 1.2525 1.2636
1 MONTH 1.1348 1.1654 1.1972 1.2278 1.2596 1.2902 1.3220
 

GOLD

Gold was seen oscillating in a narrow trading band through the early European session on Wednesday and consolidated the overnight goodish move up back closer to weekly tops. Renewed uncertainties surrounding the US-trade talks, together with negative Brexit headlines dented investors' appetite for riskier assets on Tuesday. The same was evident from a selloff in the US equity markets and provided a strong boost to traditional safe-haven assets - like Gold. Gold is expected to find support at 1,500.00 and a fall through could take it to the support level of 1,494.40. On the other side, resistance stands at 1,509.60, and a rise through could take it to the level of 1,513.40.

GOLD_09_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1477.40 1485.05 1499.65 1507.30 1521.90 1529.55 1544.15
1 WEEK 1415.86 1440.43 1476.66 1501.23 1537.46 1562.03 1598.26
1 MONTH 1344.50 1407.50 1440.20 1503.20 1535.90 1598.90 1631.60