USD/JPY

USD/JPY has risen as Mid-East tensions have calmed. The pair holds onto recovery gains from Wednesday while taking the bids to 109.25 during early Thursday. Overbought RSI signals the pullback, sellers can revisit Tuesday’s top during decisive declines. USD/JPY is expected to find support at 109.03 and a fall through could take it to the support level of 108.81. On the other side, resistance stands at 109.46 and a rise through could take it to the level of 109.64.

USDJPY-09-01-2020
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 106.43 107.04 108.03 108.64 109.64 110.24 111.24
1 WEEK 105.75 106.79 107.44 108.48 109.13 110.17 110.82
1 MONTH 106.80 107.61 108.11 108.92 109.42 110.23 111.73

 

EURUSD

EUR/USD hit fresh two-week lows at 1.1104 in early Asian trading, however the shared currency maintained its consolidative mode on the upbeat German industrial figures, pushing EUR/USD back around 1.1115 region. EUR/USD is expected to find support at 1.1096 and a fall through could take it further to the support level of 1.1081. On the other side, resistance stands at 1.1124 and a rise through could take it to the next resistance level of 1.1139.

EURUSD-09-01-2020
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1020 1.1061 1.1087 1.1128 1.1154 1.1195 1.1221
1 WEEK 1.0993 1.1059 1.1109 1.1175 1.1225 1.1291 1.1341
1 MONTH 1.0825 1.0914 1.1063 1.1152 1.1301 1.1390 1.1539

 

GBPUSD

GBP/USD benefits from Brexit optimism ahead of Carney’s speech. The pair pauses the two-day losing streak as markets welcome the Conservatives’ ability to let the UK PM’s plan intact in the Commons. Mild risk-on also contributes to the pair’s recovery. GBP/USD is expected to find support at 1.3077 and a fall through could take it to the next support level of 1.3056. On the other side, resistance stands at 1.3129 and a rise through could take it to the next resistance level of 1.3157.

GBPUSD-09-01-2020
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2979 1.3030 1.3068 1.3119 1.3157 1.3208 1.3246
1 WEEK 1.2770 1.2912 1.3000 1.3142 1.3230 1.3372 1.3460
1 MONTH 1.2312 1.2604 1.2932 1.3224 1.3552 1.3844 1.4172

 

GOLD

Gold is inching lower as price falls to a low of $1,545 to start the session. US-Iran tensions are continuing to fade, and gold is seen retracing from its gains gathered by the risk event. Gold is expected to find support at 1,532.20 and a fall through could take it to the support level of 1,524.80. On the other side, resistance stands at 1,554.60, and a rise through could take it to the level of 1,560.40.

Gold-09-01-2020
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1478.01 1515.78 1537.41 1575.18 1596.81 1634.58 1656.21
1 WEEK 1481.96 1497.73 1525.06 1540.83 1568.16 1583.93 1611.26
1 MONTH 1407.74 1434.74 1478.94 1503.97 1548.14 1573.17 1617.34