USDJPY

USD/JPY continue to trade further below the key 110.00 psychological mark to fresh six-week lows. Renewed concerns about the escalating US-China trade conflicts continued weighing on investors' sentiment, which was evident from another day of sharp losses in Asian equity stock markets and benefitted the Japanese Yen's safe-haven status. USD/JPY is expected to find support at 109.50 and a fall through could take it to the support level of 109.31. On the other side, resistance stands at 110.05, and a rise through could take it to the level of 110.24.

 

USDJPY-09-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.49 109.70 109.86 110.07 110.24 110.44 110.61
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 stays side-lined around the 1.1200 milestone today, with the pair navigating within a tight range so far this week, with the weekly upside so far limited by the 1.1220 region. Markets remain focused on the US-China trade dispute amidst the recent deterioration in talks. EUR/USD is expected to find support at 1.1173 and a fall through could take it further to the support level of 1.1150. On the other side, resistance stands at 1.1216, and a rise through could take it to the next resistance level of 1.1230. 

 

EURUSD-09-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1150 1.1166 1.1182 1.1198 1.1213 1.1230 1.1245
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 1.3005 now, into the European open on Thursday. Given the absence of data from the British side, Brexit, trade and the US statistics could become market movers for the pair. GBP/USD is expected to find support at 1.2979 and a fall through could take it to the next support level of 1.2938. On the other side, resistance stands at 1.3037, and a rise through could take it to the next resistance level of 1.3068.

 

GBPUSD-09-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2878 1.2933 1.2971 1.3026 1.3064 1.3119 1.3157
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 climbs back to mid - $1,283.00, after retreating to $1279 in yesterday’s session on improved market sentiment. Traders now await the start of two-day trade talks in Washington later in the day to see if Chinese negotiators could convince the White House to back down on a possible tariff hike on Chinese imports. Gold is expected to find support at 1,277.10 and a fall through could take it to the support level of 1,272.60. On the other side, resistance stands at 1,286.30, and a rise through could take it to the level of 1,290.20.

 

Gold-09-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1264.91 1272.58 1277.41 1285.08 1289.91 1297.58 1302.41
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