EUR/USD

The pair sold off yesterday after bears managed to hold the 61.8% fibo, reaching the first two of their targets, to trade as low as 1.1050. Currently the pair is consolidating, with a breach of 1.1050, likely to see further declines to the 1.1025, 1.1000 and 1.0975 levels. However, should bulls manage to capture 1.1075, we would see them retry for 1.1100, 1.1125 and 1.1150 as they look to break above key resistance.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 1.0958 1.1005 1.1032 1.1079 1.1106 1.1153 1.1180
Weekly 1.0789 1.0897 1.0975 1.1080 1.1161 1.1266 1.1347
Monthly 1.0339 1.0624 1.0864 1.1149 1.1389 1.1674 1.1914
 

GBPUSD

Cable bulls have been in full parade recently, making highs of 1.3335 as they continue to stampede higher. Should they manage to hold on to 1.3300, we expect bulls to retest 1.3335 and target 1.3350, 1.3375 and 1.3400 as they continue to retrace their recent losses. However, we are entering heavy resistance zones with the stochastics and price diverging, implying that we might see a sell off should bears manage to capture 1.3300 with downside targets at 1.3250, 1.3200 and 1.3150.


GBPUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 1.2746 1.2861 1.3066 1.3181 1.3386 1.3501 1.3706
Weekly 1.2176 1.2486 1.2721 1.3031 1.3266 1.3576 1.3811
Monthly 1.0706 1.1912 1.2611 1.3817 1.4516 1.5722 1.6421
 

AUDUSD

Bulls hit a wall at 0.7650 as bears finally stepped in after the pair fully retraced its post Brexit declines. Further support is expected at 0.7575, 0.7550 and 0.7525 which if captured by bears will imply a further sell off is on the cards as a new low is put in. However, bulls might look to use 0.7575 as a spring board to break above 0.7650 and beyond as they maintain the momentum.


AUDUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 0.7410 0.7471 0.7536 0.7597 0.7662 0.7723 0.7788
Weekly 0.7288 0.7346 0.7457 0.7515 0.7626 0.7684 0.7795
Monthly 0.6767 0.6983 0.7217 0.7433 0.7667 0.7883 0.8117
 

GOLD

Gold bull finally gave in after bears successfully capturing 1350, driving the precious metal down to 1326 as they triggered several stops and turning the short term trend bearish. Resistance is expected at 1340, 1345 and 1350 while support is expected at 1330, 1325 and 1320.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 1298.86 1314.58 1324.56 1340.28 1350.26 1365.98 1375.95
Weekly 1296.20 1351.60 1336.10 1355.50 1376.00 1395.40 1415.90
Monthly 1080.46 1142.93 1230.66 1293.13 1380.86 1443.33 1531.06