EURUSD

Bears came in guns a blazing yesterday as they made quick work of 1.0725, breaking two trend lines before bottoming out at 1.0650 after bulls decided enough was enough. The short term trend is bearish and bears will look to capture 1.0650 as stepping stone to 1.0625, 1.0600 and 1.0575. However, bulls will look to capture 1.0675 as a last ditch attempt to keep prices bid with targets at 1.0700, 1.0725 and 1.0750.

  EURUSD​ ​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0523 1.0589 1.0635 1.0701 1.0747 1.0813 1.0859
WEEKLY 1.0467 1.0522 1.0612 1.0667 1.0757 1.0812 1.0902
MONTHLY 0.9760 1.0055 1.0285 1.0580 1.0810 1.1105 1.1335
 

GBPUSD

The pair topped out just shy of 1.2675 as bulls looked to continue on the momentum from earlier in the week. Bears proved too strong and we have since seen the pair drop over 100 pips as bears take the lead. As it stands, bears will look to leverage their momentum to target 1.2525, 1.2500 and 1.2475 while bulls will look to retake 1.2575 in hopes of retesting 1.2600, 1.2625 and 1.2650.

  GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2412 1.2483 1.2538 1.2609 1.2664 1.2735 1.2790
WEEKLY 1.1661 1.1820 1.2098 1.2257 1.2535 1.2674 1.2972
MONTHLY 1.1519 1.1858 1.2098 1.2437 1.2677 1.3016 1.3256
 

CRUDE OIL (WTI)

Bulls made the decisive move yesterday, capturing 53.50 to catapult prices higher but only as far as the 23.6% fibo which implies the commodity is still in a downtrend. Should bulls manage to capture 55, we would have the making of a trend change and bulls will amass to drive prices higher. However, if bears manage to hold price below 54, we could see them try to reignite the downs trend with 50 a likely target in the coming week.

  CRUDE OIL

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 51.75 52.27 52.02 53.54 54.029 54.81 55.56
WEEKLY 47.73 49.32 50.34 51.93 52.95 54.54 55.56
MONTHLY 44.76 46.87 50.29 52.40 55.82 57.93 61.35
 

GOLD

Gold`s double top has held up and bears have ridden the wave to the 1180`s as we see the precious metal continue to lose ground. As it stands, bears will look to capture 1180 in hopes of targeting 1175, 1170 and 1165 while bulls will look to close above 1185 in hopes of recouping this week’s losses with targets at 1190, 1195 and 1200.

  GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1169.40 1177.50 1183.50 1191.60 1197.60 1205.70 1211.70
WEEKLY 1176.26 1186.03 1195.16 1204.93 1214.06 1223.83 1232.96
MONTHLY 1057.56 1090.73 1120.36 1153.53 1183.16 1216.33 1245.96