USD/JPY

USD/JPY was consolidating recent gains to near 3-month tops, around 109.00 handle, however now is currently under selling pressure, trading at 108.89. Easing US-China trade tensions have assisted the pair to gain some follow-through traction during the early session on Tuesday. USD/JPY is expected to find support at 108.82 and a fall through could take it to the support level of 108.73. On the other side, resistance stands at 108.98 and a rise through could take it to the level of 109.12.

USDJPY_29_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 108.36 108.51 108.74 108.89 109.12 109.27 109.50
1 WEEK 107.81 108.03 108.35 108.57 108.89 109.11 109.43
1 MONTH 103.64 104.69 106.39 107.44 109.14 110.19 111.89


EURUSD

EUR/USD is trading below 1.11, marginally lower for the day so far. The pair is looking north, having carved out a bullish candlestick pattern on Monday, but the upside could be capped by expectations for a hawkish Federal Reserve rate cut and a rise in the US Treasury yields. EUR/USD is expected to find support at 1.1075 and a fall through could take it further to the support level of 1.1059. On the other side, resistance stands at 1.1100 and a rise through could take it to the next resistance level of 1.1112.

EURUSD_29_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1049 1.1063 1.1081 1.1094 1.1112 1.1125 1.1144
1 WEEK 1.0933 1.1003 1.1041 1.1111 1.1149 1.1219 1.1257
1 MONTH 1.0593 1.0739 1.0819 1.0965 1.1045 1.1191 1.1271


GBPUSD

GBP/USD is trading around 1.2850, steady, as Johnson will try approving elections again. Any gains though, will likely remain elusive if the UK parliament rejects early election offer. The British Pound will likely challenge recent highs above 1.30, if the Parliament approves an early election. If the vote fails, then GBP may drop below 1.2800 mark. GBP/USD is expected to find support at 1.2834 and a fall through could take it to the next support level of 1.2817. On the other side, resistance stands at 1.2875 and a rise through could take it to the next resistance level of 1.2890.

GBPUSD_29_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2510 1.2649 1.2736 1.2875 1.2962 1.3101 1.3188
1 WEEK 1.2186 1.2350 1.2662 1.2826 1.3138 1.3302 1.3614
1 MONTH 1.1348 1.1654 1.1972 1.2278 1.2596 1.2902 1.3220


GOLD

Gold has been on the backfoot since failing to retake the $1,520 key upside level. Instead, Gold has tumbled all the way back below the $1,500 round level and the 200-hour moving average located at $1,493. A strong equity market on Monday weighed on gold prices and the optimism about the completion of the first phase of the trade deal weighed on the yellow metal. Gold is expected to find support at 1,488.20 and a fall through could take it to the support level of 1,483.80. On the other side, resistance stands at 1,495.80, and a rise through could take it to the level of 1,500.00.

GOLD_29_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1469.09 1480.72 1487.39 1499.02 1505.69 1517.32 1523.99
1 WEEK 1449.00 1466.50 1485.90 1503.40 1522.80 1540.30 1559.70
1 MONTH 1344.50 1407.50 1440.20 1503.20 1535.90 1598.90 1631.60