USD/JPY

USD/JPY rallied around 50 pips in the last hour and refreshed session tops in the last hour, with bulls looking to extend the momentum further beyond the 109.00 handle. Optimistic trade-related comments from China helped ease the latest uncertainty. USD/JPY is expected to find support at 108.80 and a fall through could take it to the support level of 108.61. On the other side, resistance stands at 109.16 and a rise through could take it to the level of 109.33.

USDJPY-07-11-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 108.40 108.61 108.76 108.97 109.12 109.33 109.47
1 WEEK 106.21 107.05 107.62 108.46 109.03 109.87 110.44
1 MONTH 103.76 105.15 107.62 107.94 109.40 110.76 112.22
 

EURUSD

EUR/USD has been recovering from the lows as China's commerce ministry expressed optimism about trade talks. Earlier, the common currency struggled with downbeat German data, having closed 0.10% lower on Wednesday, having shed 0.33% and 0.48% on Monday and Tuesday, respectively. EUR/USD is expected to find support at 1.1050 and a fall through could take it further to the support level of 1.1030. On the other side, resistance stands at 1.1089 and a rise through could take it to the next resistance level of 1.1115.

EURUSD-07-11-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1030 1.1048 1.1059 1.1076 1.1087 1.1104 1.1115
1 WEEK 1.1000 1.1037 1.1102 1.1139 1.1204 1.1241 1.1306
1 MONTH 1.0659 1.0769 1.0961 1.1071 1.1263 1.1373 1.1565
 

GBPUSD

GBP/USD is trading around 1.2850, struggling ahead of the BOE's Super Thursday. The bank is set to downgrade forecasts. Labour's deputy Tom Watson is stepping down, while Conservatives remain in the lead. The pair also ears the burden of broad USD strength amid the UK’s general election campaign. GBP/USD is expected to find support at 1.2836 and a fall through could take it to the next support level of 1.2813. On the other side, resistance stands at 1.2867 and a rise through could take it to the next resistance level of 1.2882.

GBPUSD-07-11-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2782 1.2813 1.2835 1.2866 1.2887 1.2919 1.2940
1 WEEK 1.2666 1.2736 1.2836 1.2906 1.3006 1.3076 1.3176
1 MONTH 1.1601 1.1898 1.2420 1.2717 1.3239 1.3536 1.4058
 

GOLD

Gold keeps trading in a $45 range since the bounce during early October. The yellow metal takes the rounds to $1,486 by the press time of the European session on Thursday, having dropped as a turnaround in the global risk sentiment weighed on Gold’s safe-haven status. Gold is expected to find support at 1,482.00 and a fall through could take it to the support level of 1,478.80. On the other side, resistance stands at 1,489.60, and a rise through could take it to the level of 1,492.90.

Gold-07-11-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1473.86 1478.83 1485.96 1490.93 1498.06 1503.03 1510.16
1 WEEK 1454.10 1468.60 1490.00 1504.50 1525.90 1540.40 1561.80
1 MONTH 1417.14 1441.07 1477.94 1501.87 1538.74 1562.67 1599.54