USDJPY

USD/JPY struggles around 110.77, after dropping to 110.26, on early Monday. The US President threatened to increase tariffs on Chinese goods’ imports from 10 to 25% and signaled to fetch $325B Chinese goods that are currently out of extra import duty zone to bear 25% tax. Global markets turned to risk-safety as the deal between world’s two biggest economies once again seems unclear. USD/JPY is expected to find support at 110.31 and a fall through could take it to the support level of 110.04. On the other side, resistance stands at 110.85, and a rise through could take it to the level of 111.12.

 

USDJPY-06-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.18 110.36 110.49 110.67 110.80 110.98 111.12
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 remains below 1.1200, as the pessimism around investors seems to have returned on Monday with fresh concerns in the US-China trade front. EUR/USD is expected to find support at 1.1165 and a fall through could take it further to the support level of 1.1143. On the other side, resistance stands at 1.1205, and a rise through could take it to the next resistance level of 1.1225. 

 

EURUSD-06-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1119 1.1140 1.1162 1.1183 1.1205 1.1226 1.1248
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 declines to 1.3110 during early Monday. The UK markets are closed for May Day and while there seems little on the economic calendar, latest risk-odd moves backed by tensions between the US and China could become an important driver for the pair. GBP/USD is expected to find support at 1.3075 and a fall through could take it to the next support level of 1.3040. On the other side, resistance stands at 1.3168, and a rise through could take it to the next resistance level of 1.3200.

 

GBPUSD-06-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3029 1.3067 1.3109 1.3147 1.3189 1.3227 1.3269
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 has pulled back from the session high of $1,285 but is still flashing green amid risk aversion. The yellow metal is currently trading at $1,281 per Oz, likely benefiting from the drop in riskier assets triggered by the renewed fears of US-China trade war. Gold is expected to find support at 1,277.60 and a fall through could take it to the support level of 1,274.30. On the other side, resistance stands at 1,285.60, and a rise through could take it to the level of 1,288.45.

 

Gold-06-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1274.51 1277.38 1281.61 1284.48 1288.71 1291.58 1295.81
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