EUR/USD

The EURUSD showed the power of demand and supply and how quickly they can be rebalanced after breezing through all downside targets, stopping abruptly just above 1.0800 and proceeding to take out all out upside targets and more as it sailed to just above 1.1200. Looking at a more macro view, we see that the pair has pulled back above the 50% fibo of the drop from its AUG highs and is currently finding support at 1.1150. Further upside would look to target 1.1250, 1.1350 and 1.1450 as bulls manage a 76.5 % retracement of the drop since AUG 15. Bears will look to head south towards the Daily EMAS which have flattened, with targets at 1.1050, 1.0950 and 1.0850.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0528 1.0674 1.0926 1.1072 1.1324 1.1470 1.1722
WEEKLY 1.0647 1.0735 1.0869 1.0957 1.1091 1.1179 1.1313
MONTHLY 1.0100 1.0456 1.0665 1.1021 1.1230 1.1586 1.1795
 

GBP/USD

Cable managed to continue higher after failing to break below the 1.4150 confluence of the H4 50 and 100 EMA, breaking above the counter trend line to target 1.4300 as bulls look to extend their recent gains to above the 50% fibo level. Further upside should 1.4240 not be violated, is expected at 1.4300, 1.4350 and 1.4400. However, should bears capture 1.4240, we would see them drive for another retest of the MAS`s with targets at 1.4200, 1.4150 and 1.4100.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3954 1.4035 1.4160 1.4241 1.4366 1.4447 1.4572
WEEKLY 1.3541 1.3687 1.3957 1.4103 1.4373 1.4519 1.4789
MONTHLY1.2773 1.2773 1.3303 1.3609 1.4139 1.4445 1.4975 1.5281
 

USD/CAD

The USDCAD moved beautifully to retest the 1.3400 resistance zone before the existing down trend line and the H4 50 EMA proved too much for bulls, and bears took control. The cross of the stochastic together with the other factors made for a high reward low risk trade which would have the best of traders licking their chops. Current support is at 1.3250, 1.3200 and 1.3150. Should bulls find the energy, they will look to defend 1.3250 and retest 1.3300 and 1.3350, with hopes of taking 1.3400.

USD/CAD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3074 1.3151 1.3245 1.3322 1.3416 1.3493 1.3587
WEEKLY 1.2939 1.3124 1.3219 1.3404 1.3499 1.3684 1.3779
MONTHLY 1.2687 1.3083 1.3311 1.3707 1.3935 1.4331 1.4559
 

GOLD

Gold manage to make new multi-year highs as inflationary pressure is expected to increase. Currently the precious metal is trading at 1271, with upside targets at 1275, 12780 and 1285. If bears mange to take control of 1270, we expect them to hunt for 1265, 1260 and 1255.

GOLD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1213.16 1225.33 1248.66 1260.83 1284.16 1296.33 1319.66
WEEKLY 1171.06 1194.83 1232.36 1256.13 1293.66 1317.43 1354.96
MONTHLY 1000.36 1057.83 1145.86 1203.33 1291.36 1348.83 1436.86