EUR/USD

EURUSD has lost most of the gains made in 2016 and is heading for this year’s open of around 1.0850. Currently the pair is trading at 1.0875 with downside targets at 1.0850, 1.0800 and 1.0750. Bulls will be ready to defend 1.0850 and might follow suite with the stochastics, which have crossed out of oversold levels. Upside targets, should they manage to capture 1.0900, are at 1.0910, 1.0968 and 1.1000.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0739 1.0799 1.0842 1.0902 1.0945 1.1005 1.1048
WEEKLY 1.0624 1.0767 1.0851 1.0994 1.1078 1.1221 1.1256
MONTHLY 1.0425 1.0567 1.0702 1.0844 1.0979 1.1121 1.1256
 

GBP/USD

Cable managed to close in the green yesterday and is currently retesting resistance at the 1.3950 level. Should bulls manage to capture this level, we will see them target 1.4000, 1.4050 and 1.4100, which would change the medium term trend as bulls drive the retracement, from multi-year lows, deeper. Bears will look to hold 1.3950 with targets at 1.3900, 1.3850 and to new lows of 1.3800.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3750 1.3793 1.3860 1.3903 1.3970 1.4013 1.4080
WEEKLY 1.3238 1.3545 1.3707 1.4014 1.4176 1.4483 1.4645
MONTHLY 1.3209 1.3644 1.3945 1.4380 1.4681 1.5116 1.5417
 

USD/JPY

USDJPY has retraced from last week’s surge and is currently trading over 100 pips lower than this weeks open after finding strong resistance at the H4 100 EMA. Bulls are retesting the 50 EMA which coincides with the 113 handle, should they manage to capture 113, they will look to target 113.80, 114.00 and 114.50. However, should bears hold 113.00, we will see them target 112.00, 110.96 and 110.50 as they look to extend their strength deeper into 2014 prices.

USD/JPY

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.12 111.16 111.78 112.82 113.44 114.48 115.10
WEEKLY 109.06 110.05 112.02 113.01 114.98 115.97 117.94
MONTHLY 111.70 113.83 117.44 119.57 123.18 125.31 128.92
 

CRUDE OIL

Bulls took the reins after a shaky start and are currently testing last week’s highs of 35 USD. A determined close above will see bulls head for 36.50 as they retrace 76.4% of the recent down move and perhaps even testing the daily 100 EMA at 37.50. Should bears hold 35 though and manage a close below 34.00 (daily 50 EMA) we will see more sellers enter the market as bears drive for 33, 32 and 31.

CRUDE OIL

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 31.02 31.67 32.72 33.37 34.42 35.07 36.12
WEEKLY 24.74 27.11 29.95 32.32 35.16 37.53 40.37
MONTHLY 14.87 20.53 27.07 32.73 39.27 44.93 51.47