USDJPY

USD/JPY as gapped to the upside on positive risk sentiment following geopolitical ice-breaking talks. The pair vaulted the 108 the figure to score a high of 108.51 in a big gap to the upside, later dwindled back to 108.16, but has since jumped back to 108.43. USD/JPY is expected to find support at 108.11 and a fall through could take it to the support level of 107.88. On the other side, resistance stands at 108.61, and a rise through could take it to the level of 108.78.

USDJPY-01-07-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.46 107.69 108.04 108.27 108.62 108.85 109.21
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 drops to session lows in the 1.1320 region, as the single currency remains on the back foot at the beginning of the week. The recently clinched US-China trade truce is sustaining the better tone in the risk-associated complex, pushing US yields higher and helping the Dollar to extend the rebound. EUR/USD is expected to find support at 1.1342 and a fall through could take it further to the support level of 1.1319. On the other side, resistance stands at 1.1405, and a rise through could take it to the next resistance level of 1.1430.

EURUSD-01-07-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1333 1.1345 1.1352 1.1364 1.1371 1.1383 1.1390
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 trades on the backfoot near 1.2660 amid the US-China trade truce and the UK political plays. Moving on, investors will keep an eye over the political handle not only to observe the Brexit happenings but also to gauge the trade developments between the US and China. GBP/USD is expected to find support at 1.2637 and a fall through could take it to the next support level of 1.2613. On the other side, resistance stands at 1.2692, and a rise through could take it to the next resistance level of 1.2721.

GBPUSD-01-07-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2670 1.2679 1.2686 1.2695 1.2702 1.2711 1.2718
WEEKLY 1.2520 1.2591 1.2643 1.2714 1.2766 1.2837 1.2889
MONTHLY 1.2262 1.2386 1.2539 1.2661 1.2815 1.2937 1.3092

GOLD

Gold added to its bearish weekly gap opening below the key $1400 psychological mark and dropped to over one-week lows in the last hour. The yellow metal dropped as much as 1.8% - marking the biggest intraday fall in a year, to $1384 an ounce in reaction to the latest positive trade-related development. Gold is expected to find support at 1,372.50 and a fall through could take it to the support level of 1,3959.70. On the other side, resistance stands at 1,398.10, and a rise through could take it to the level of 1,405.70.

Gold-01-07-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1359.20 1373.35 1384.20 1398.35 1409.20 1423.35 1434.20
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