USDJPY

USD/JPY regained some positive traction today and built on the overnight post-FOMC goodish bounce from the 111.00 neighborhood and is now seen at 111.44. The pair got an extra boost amid positive news on the US-China trade negotiations, which further dented the Yen's perceived safe-haven status. USD/JPY is expected to find support at 111.35 and a fall through could take it to the support level of 111.12. On the other side, resistance stands at 111.71, and a rise through could take it to the level of 111.91.

 

USDJPY-02-05-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.56 110.81 111.13 111.37 111.69 111.93 112.25
WEEKLY 110.17 110.78 111.19 111.80 112.21 112.82 113.23
MONTHLY 109.09 109.95 110.69 111.55 112.29 113.15 113.89

 

EURUSD

EUR/USD is slipping a little as the UD Dollar is seen holding steady. The FOMC message was not as dovish as expected yesterday, prompting a immediate drop to sub-1.1200 levels in the pair, after Chief Powell suggested rate cuts remain off the table for the time being and the slower pace in inflation was brief. EUR/USD is expected to find support at 1.1174 and a fall through could take it further to the support level of 1.1148. On the other side, resistance stands at 1.1217, and a rise through could take it to the next resistance level of 1.1244.

 

EURUSD-02-05-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1095 1.1142 1.1173 1.1219 1.1250 1.1296 1.1327
WEEKLY 1.0933 1.1022 1.1086 1.1175 1.1239 1.1328 1.1392
MONTHLY 1.0896 1.1004 1.1110 1.1218 1.1324 1.1432 1.1538

 

GBPUSD

GBP/USD is on the bids around 1.3067 while into the European open on Tuesday amid the recently positive Brexit developments. Looking forward, today’s monetary policy meeting, minutes and the quarterly inflation report from the Bank of England together constitute “Super Thursday”. GBP/USD is expected to find support at 1.3025 and a fall through could take it to the next support level of 1.2990. On the other side, resistance stands at 1.3087, and a rise through could take it to the next resistance level of 1.3118.

 

GBPUSD-02-05-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2956 1.2995 1.3024 1.3063 1.3092 1.3131 1.3160
WEEKLY 1.2696 1.2781 1.2850 1.2935 1.3004 1.3089 1.3158
MONTHLY 1.2536 1.2701 1.2868 1.3033 1.3200 1.3365 1.3532

 

GOLD

Gold trades near $1,272, remaining on a back-foot since the early-day as holidays at China and Japan offered less news to change the momentum while positive developments at Brexit and the US-China trade front also favored market’s risk-on mood. Gold is expected to find support at 1,269.15 and a fall through could take it to the support level of 1,266.50. On the other side, resistance stands at 1,275.65, and a rise through could take it to the level of 1,279.40.

 

Gold-02-05-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1258.09 1266.42 1272.39 1280.72 1286.69 1295.02 1300.99
WEEKLY 1258.86 1262.43 1273.66 1277.23 1288.46 1292.03 1303.26
MONTHLY 1217.19 1242.62 1263.79 1289.22 1310.39 1335.82 1356.99