USDJPY

USD/JPY pair managed to recover a major part of its early decline, albeit remained well within the previous session's trading range as the prevalent cautious mood underpins JPY and seemed to cap gains. USD/JPY is expected to find support at 111.10, and a fall through could take it to the support level of 110.88. On the other side, resistance stands at 111.50, and a rise through could take it to the level of 111.71.

USDJPY_05_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.79 110.95 111.14 111.30 111.49 111.65 111.84
WEEKLY 109.22 110.00 110.58 111.36 111.94 112.72 113.30
MONTHLY 106.80 107.76 109.58 110.54 112.36 113.32 115.14
 

EURUSD

EUR/USD is looking to extend weekly gains and targets the 1.1300 handle, as USD-dynamics continue to drive the price action around the pair almost exclusively while investors keep waiting for stronger signals on the US-China trade front and are closely following the developments in the Brexit negotiations. EUR/USD is expected to find support at 1.1242 and a fall through could take it further to the support level of 1.1221. On the other side, resistance stands at 1.1314, and a rise through could take it to the next resistance level of 1.1331.

EURUSD_05_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1197 1.1223 1.1255 1.1281 1.1313 1.1339 1.1371
WEEKLY 1.0925 1.1051 1.1146 1.1272 1.1367 1.1493 1.1588
MONTHLY 1.0982 1.1107 1.1239 1.1364 1.1496 1.1621 1.1753
 

GBPUSD

GBP/USD broke out of its consolidation phase and spiked to fresh session tops, around mid-1.3100s in the last hour. After yesterday's volatile swings, led by a flurry of incoming Brexit headlines, the pair regained some positive traction on Wednesday and remained supported by hopes that the UK Parliament will also reject Wednesday's no-deal motion. GBP/USD is expected to find support at 1.3049 and a fall through could take it to the next support level of 1.3000. On the other side, resistance stands at 1.3232, and a rise through could take it to the next resistance level of 1.3288.

GBPUSD_05_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2725 1.2866 1.2965 1.3106 1.3205 1.3346 1.3446
WEEKLY 1.2629 1.2810 1.2914 1.3095 1.3199 1.3380 1.3484
MONTHLY 1.2328 1.2550 1.2907 1.3129 1.3486 1.3708 1.4065
 

GOLD

Gold held on to its positive tone through the early European session on Wednesday and remained within striking distance of 10-day tops set earlier today, but a modest USD rebound, and positive US bond yields seemed to cap strong gains. Gold is expected to find support at the level of 1,297.50 and a fall through could take it to 1,290.80 level. On the other side, resistance stands at 1,313.90, and a rise through could take it to the next resistance level of 1,320.80.

Gold_05_03_2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1281.94 1286.97 1292.54 1297.57 1303.14 1308.17 1313.74
WEEKLY 1265.80 1273.30 1286.30 1293.80 1306.80 1314.30 1327.30
MONTHLY 1252.16 1278.43 1297.26 1323.53 1342.36 1368.63 1387.46