USD/JPY

USD/JPY ticked higher on the last trading day of the week and has now moved within the striking distance of reclaiming the 108.00 round figure mark. The prevalent risk-on mood continues to weigh on the JPY, while a subdued USD price action does little to influence ahead of the closely watched US jobs data. USD/JPY is expected to find support at 107.61 and a fall through could take it to the support level of 107.43. On the other side, resistance stands at 108.16, and a rise through could take it to the level of 108.39.

 

USDJPY-05-07-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.61 107.66 107.74 107.79 107.87 107.92 108.01
WEEKLY 105.66 106.22 107.05 107.61 108.44 109.00 109.83
MONTHLY 105.15 105.97 107.17 107.99 109.19 110.01 111.22

EURUSD

EUR/USD is showing some selling pressure below 1.1280, navigating to the lower bound of the range following Monday’s deep pullback and breakdown of the critical 200-day SMA. Also weighing on EUR today, the German docket surprised to the downside once again after Factory Orders contracted at a monthly 2.2% during May, well below previous estimates. EUR/USD is expected to find support at 1.1258 and a fall through could take it further to the support level of 1.1241. On the other side, resistance stands at 1.1292 and a rise through could take it to the next resistance level of 1.1314.

 

EURUSD-05-07-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1253 1.1263 1.1275 1.1285 1.1297 1.1307 1.1319
WEEKLY 1.1268 1.1306 1.1338 1.1376 1.1408 1.1446 1.1478
MONTHLY 1.0951 1.1053 1.1207 1.1310 1.1464 1.1567 1.1721

GBPUSD

GBP/USD follows the recent tendency of no change ahead of the US traders’ return from the Independence Day holiday, also amid cautious sentiment prevailing prior to the key employment statistics from the US. GBP/USD is expected to find support at 1.2556 and a fall through could take it to the next support level of 1.2540. On the other side, resistance stands at 1.2602, and a rise through could take it to the next resistance level of 1.2615.

 

GBPUSD-05-07-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2548 1.2558 1.2570 1.2581 1.2593 1.2604 1.2616
WEEKLY 1.2520 1.2591 1.2643 1.2714 1.2766 1.2837 1.2889
MONTHLY 1.2262 1.2385 1.2539 1.2661 1.2815 1.2937 1.3092

GOLD

Gold prices were ranging between $1,410.36 and $1,421.67 on Thursday throughout the European and lack of a US session. The yellow metals moved over to the early Asian closing session at $1,415, -0.28% on the day. This followed Wednesday's futures settlement of $1,420.90 which was the highest finish for a most-active contract since May 2013. Gold is expected to find support at 1,406.70 and a fall through could take it to the support level of 1,400.00. On the other side, resistance stands at 1,423.10, and a rise through could take it to the level of 1,428.10.

 

GOLD-05-07-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1401.59 1407.22 1415.39 1421.02 1429.19 1434.82 1442.99
WEEKLY 1366.84 1384.47 1398.04 1415.67 1429.24 1446.87 1460.44
MONTHLY 1191.06 1250.68 1322.91 1382.53 1454.76 1514.38 1586.61