USDJPY

USD/JPY trades back near the two-week lows of 109.15 reached earlier in the session as the selling interest around the Treasury yields gathers pace. The safe-haven demand for the Yen remains boosted at the expense of the higher-yielding assets such as yields amid mounting global recession fears, emanating from escalating US-China trade row. USD/JPY is expected to find support at 109.06 and a fall through could take it to the support level of 108.76. On the other side, resistance stands at 109.40, and a rise through could take it to the level of 109.58.

 

USDJPY-29-05-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.74 108.97 109.16 109.40 109.59 109.83 110.02
WEEKLY 107.42 108.35 108.83 109.76 110.24 111.17 111.65
MONTHLY 109.09 109.95 110.69 111.55 112.29 113.15 113.89

EURUSD

EUR/USD is looking to reverse two consecutive daily pullbacks, coming under some downside pressure after being rejected once again from levels beyond 1.1200 the figure earlier in the week. The move lower in spot so far this week reflects the better note surrounding the US Dollar against the backdrop of a broad-based decline in global yields. EUR/USD is expected to find support at 1.1140 and a fall through could take it further to the support level of 1.1127. On the other side, resistance stands at 1.1172, and a rise through could take it to the next resistance level of 1.1189.

 

EURUSD-29-05-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1114 1.1137 1.1153 1.1176 1.1193 1.1215 1.1232
WEEKLY 1.1030 1.1069 1.1137 1.1176 1.1244 1.1283 1.1351
MONTHLY 1.0896 1.1004 1.1110 1.1218 1.1324 1.1432 1.1538

GBPUSD

GBP/USD has surpassed yesterday’s low near 1.2650, during the early session today, on the UK Mirror’s news of indicating Brexit uncertainty on the opposition Labour party leader Jeremy Corbyn’s support for the second referendum. Doubts over Brexit, US-China trade deal continues to question market sentiment. GBP/USD is expected to find support at 1.2622 and a fall through could take it to the next support level of 1.2603. On the other side, resistance stands at 1.2673, and a rise through could take it to the next resistance level of 1.2691.

 

GBPUSD-29-05-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2589 1.2620 1.2640 1.2671 1.2691 1.2722 1.2743
WEEKLY 1.2399 1.2502 1.2608 1.2711 1.2817 1.2920 1.3026
MONTHLY 1.2536 1.2701 1.2868 1.3033 1.3200 1.3365 1.3532

GOLD

Gold is taking the rounds near mid-$1,283s during the early European session on Wednesday, as trade negative news and weak data favored risk-off sentiment. However, Dollar’s risk-safety nature capped the yellow metal’s gains. Gold is expected to find support at 1,279.00 and a fall through could take it to the support level of 1,276.60. On the other side, resistance stands at 1,286.20, and a rise through could take it to the level of 1,288.70.

 

Gold-29-05-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1263.99 1269.62 1274.49 1280.12 1284.99 1290.62 1295.49
WEEKLY 1254.60 1261.80 1272.70 1279.90 1290.80 1298.00 1308.90
MONTHLY 1217.19 1242.62 1263.79 1289.22 1310.39 1335.82 1356.99