USD/JPY

USD/JPY retreated around 25-30 pips from over three-week tops and has now moved to the lower end of its daily trading range, around mid-106.00s. Positive trade-related news weighed on the JPY’s safe-haven status and helped gain traction, however a subdued US Dollar demand kept a lid on any further up-move ahead of Thursday’s US macro data. USD/JPY is expected to find support at 105.28 and a fall through could take it to the support level of 105.14. On the other side, resistance stands at 106.63 and a rise through could take it to the level of 106.74.

USDJPY_05_09_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 105.37 105.60 105.97 106.20 106.57 106.80 107.16
1 WEEK 102.71 103.58 104.95 105.82 107.19 108.06 109.43
1 MONTH 99.19 101.82 104.07 106.70 108.95 111.58 113.83


EURUSD

EUR/USD rose modestly above previous highs and reached at 1.1037, the strongest level since Friday. As of writing trades at 1.1030, consolidating most of the day’s gains and a hundred pips above Tuesday’s low. EUR/USD is expected to find support at 1.0995 and a fall through could take it further to the support level of 1.0971. On the other side, resistance stands at 1.1044 and a rise through could take it to the next resistance level of 1.1059.

EURUSD_05_09_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0926 1.0949 1.0992 1.1015 1.1058 1.1081 1.1123
1 WEEK 1.0711 1.0837 1.0914 1.1040 1.1117 1.1243 1.1320
1 MONTH 1.0567 1.0780 1.0885 1.1068 1.1173 1.1356 1.1461


GBPUSD

GBP/UDS is trading above 1.2200, consolidating its gains seen after the bill to block a no-deal Brexit passed the House of Commons. The Lords will now debate it. Parliament has also rejected PM Johnson's election bill. GBP/USD is expected to find support at 1.2163 and a fall through could take it to the next support level of 1.2133. On the other side, resistance stands at 1.2257, and a rise through could take it to the next resistance level of 1.2183.

GBPUSD_05_09_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1958 1.2022 1.2133 1.2197 1.2309 1.2372 1.2484
1 WEEK 1.1925 1.2032 1.2095 1.2203 1.2265 1.2372 1.2435
1 MONTH 1.1719 1.1867 1.2013 1.2161 1.2307 1.2455 1.2601


GOLD

Gold is consolidating in Thursday following a mixed price action overnight whereby gold ended higher, but bulls capitulated from the highs as the formal withdrawal of the extradition bill in Hong Kong is catalyzing a sharp risk-on move. A revival of US-China trade talks likely put a bid under riskier assets, weakening the bid tone around the safe-haven assets. Gold is expected to find support at 1,542.90 and a fall through could take it to the support level of 1,536.40. On the other side, resistance stands at 1,556.30, and a rise through could take it to the level of 1,562.90.

GOLD_05_09_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1523.09 1532.92 1546.49 1556.32 1569.89 1579.72 1593.29
1 WEEK 1475.60 1500.60 1515.00 1540.00 1554.40 1579.40 1593.80
1 MONTH 1286.44 1349.27 1439.34 1502.17 1592.24 1655.07 1745.14