USDJPY

USD/JPY tried and reversed a dip to 4-1/2 month low and was placed at the top end of its daily trading range, around the 108.35 region, but then again retracted to 108.20s. It remains to be seen if the recovery will be backed by any genuine buying or is solely led by some short-covering move amid near-term oversold conditions. USD/JPY is expected to find support at 107.96 and a fall through could take it to the support level of 107.74. On the other side, resistance stands at 108.57, and a rise through could take it to the level of 108.79.

USDJPY-03-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.74 107.95 108.09 108.30 108.43 108.65 108.78
WEEKLY 106.06 107.17 107.72 108.83 109.38 110.49 111.04
MONTHLY 103.74 106.01 107.15 109.42 110.56 112.83 113.97

 

EURUSD

EUR/USD faced resistance near 1.1190 on Monday, as the pair is up for the second session in a row on Monday, prolonging the rebound from last week’s lows in the 1.1120/15 band, always sustained by the sharp correction lower in the US Dollar in response to rising bets on a Fed’s rate cut. EUR/USD is expected to find support at 1.1145 and a fall through could take it further to the support level of 1.1128. On the other side, resistance stands at 1.1188, and a rise through could take it to the next resistance level of 1.1204.

EURUSD-03-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1141 1.1148 1.1160 1.1168 1.1180 1.1188 1.1200
WEEKLY 1.1016 1.1066 1.1117 1.1167 1.1218 1.1268 1.1319
MONTHLY 1.0936 1.1022 1.1095 1.1181 1.1254 1.1340 1.1413

 

GBPUSD

GBP/USD extends its recent recovery, and currently trades near in the 1.2640/50 band amid an overall US Dollar weakness on developments surrounding the US trade relations with China and Mexico. Looking ahead, investors will now focus on the monthly PMI data and Donald Trump’s 3-day visit to London. GBP/USD is expected to find support at 1.2600 and a fall through could take it to the next support level of 1.2560. On the other side, resistance stands at 1.2677, and a rise through could take it to the next resistance level of 1.2716.

GBPUSD-03-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2596 1.2605 1.2622 1.2631 1.2648 1.2657 1.2674
WEEKLY 1.2344 1.2451 1.2542 1.2649 1.2740 1.2847 1.2938
MONTHLY 1.1782 1.2170 1.2401 1.2789 1.3020 1.3408 1.3639

 

GOLD

Gold price are on the bids near a 10-week high of $1,313.00 during early Monday, as trade tensions and upbeat data from China propel the bullion’s latest rise. Upbeat data from the world’s second-largest gold consumer and its tough stand against the US continues to favor the yellow metal amid broad Dollar weakness. Gold is expected to find support at 1,303.30 and a fall through could take it to the support level of 1,295.40. On the other side, resistance stands at 1,320.00, and a rise through could take it to the level of 1,324.50.

Gold-03-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1307.46 1308.88 1311.61 1313.03 1315.76 1317.18 1319.91
WEEKLY 1251.84 1262.87 1284.34 1295.37 1316.84 1327.87 1349.34
MONTHLY 1240.84 1254.07 1279.94 1293.17 1319.04 1332.27 1358.14