USD/JPY

USD/JPY reversed an early session dip drop to the 107.00 area and rallied to over one-week tops in the last hour, albeit retreated few pips thereafter. The pair built on this week's goodish bounce from the weekly bearish gap opening and gained some follow-through traction on yesterday in reaction to reports that China is still open to agreeing on a partial trade deal with the US despite the recent development. USD/JPY is expected to find support at 107.32 and a fall through could take it to the support level of 107.14. On the other side, resistance stands at 107.70 and a rise through could take it to the level of 107.87.

USDJPY_10_10_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 106.21 106.58 106.90 107.26 107.58 107.94 108.26
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 is teasing a break above key hurdle while into the European open. The currency pair may end the day with solid gains if the European Central Bank minutes sound less dovish-than-expected. The pair eked out 0.16% gains, as the markets offered US Dollars on trade optimism generated by a Bloomberg report stating that the US is planning to enter into a currency agreement with China. EUR/USD is expected to find support at 1.0967 and a fall through could take it further to the support level of 1.0954. On the other side, resistance stands at 1.0997 and a rise through could take it to the next resistance level of 1.1014.

EURUSD_10_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0927 1.0941 1.0963 1.0977 1.0999 1.1013 1.1035
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 managed to regain some positive traction on Thursday and was last seen trading around the 1.2225-30 region. The uptick is likely to remain limited amid persistent Brexit uncertainties. GBP/USD is expected to find support at 1.2193 and a fall through could take it to the next support level of 1.2182. On the other side, resistance stands at 1.2249, and a rise through could take it to the next resistance level of 1.2274.

GBPUSD_10_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2084 1.2110 1.2176 1.2234 1.2269 1.2327 1.2362
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 failed to capitalize on its early uptick to weekly tops and is currently placed at the lower end of its daily trading range, still holding comfortably above the key $1500 psychological mark. Thursday’s release of US CPI figures and US-China trade eyed for a fresh impetus. Gold is expected to find support at 1,499.60 and a fall through could take it to the support level of 1,495.80. On the other side, resistance stands at 1,513.20, and a rise through could take it to the level of 1,517.10.

GOLD_10_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1490.49 1497.82 1507.49 1514.82 1524.49 1531.82 1541.49
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