USD/JPY

USD/JPY had hit its strongest point against the greenback since October in morning trade, with a low of 107.83. The pair gave up most of its gains later in the day with the U.S. currency was last down just 0.08% against the yen at 108.33. USD/JPY is expected to find support at 108.14 and a fall through could take it to the support level of 107.93. On the other side, resistance stands at 108.61 and a rise through could take it to the level of 108.94.

USDJPY_08_01_20​​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 106.88 107.36 107.67 108.15 108.47 108.94 109.26
1 WEEK 105.75 106.79 107.44 108.48 109.13 110.17 110.82
1 MONTH 106.80 107.61 108.11 108.92 109.42 110.23 110.73
 

EURUSD

EUR/USD keeps range around 1.1150 on poor German data. The shared currency shows little reaction to the downbeat German Factory Orders data for November, as the pair keeps its range around 1.1150 amid US-Iran geopolitical risks and ahead of the US ADP data. EUR/USD is expected to find support at 1.1133 and a fall through could take it further to the support level of 1.1109. On the other side, resistance stands at 1.1164 and a rise through could take it to the next resistance level of 1.1182.

EURUSD_08_01_20

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1062 1.1098 1.1126 1.1162 1.1190 1.1226 1.1254
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 stays well within its recent trading range above 1.3100 in the London open. The pair showed a cold response to the early-day market action backed by the US-Iran war fears, as traders await details of the UK-EU leaders’ meet. GBP/USD is expected to find support at 1.3102 and a fall through could take it to the next support level of 1.3074. On the other side, resistance stands at 1.3171 and a rise through could take it to the next resistance level of 1.3200.

GBPUSD_08_01_20

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2951 1.3023 1.3068 1.3140 1.3185 1.3257 1.3302
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 prices retrace the early-day gains from $1,611.30 to $1,587 by the press time of the initial trading session on Wednesday. The yellow metal, often considered as a risk-safety, surged to the highest since April 2013 after Iran attacked the US airbases in Baghdad. Gold is expected to find support at 1,582.20 and a fall through could take it to the support level of 1,579.10. On the other side, resistance stands at 1,597.10, and a rise through could take it to the level of 1,604.90.

GOLD_08_01_20

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1526.35 1541.70 1559.20 1584.55 1612.05 1627.40 1654.90
1 WEEK 1481.96 1497.73 1525.06 1540.83 1568.16 1583.93 1611.26
1 MONTH 1409.74 1434.77 1478.94 1503.97 1548.14 1573.17 1617.34