GBPUSD

Cable opened with over a 120 pip gap down after managing to close above 1.4400 in Friday trade. The pair continues to slide as bears test 1.4200 with targets at 1.4150, 1.4100 and multi-year lows at 1.4078. However should bulls manage to close above 1.4250, we would see them try close the market open gap, as they trade through 1.4300 and 1.43.50.


GBPUSD  
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4197 1.4228 1.4246 1.4277 1.4295 1.4326 1.4344
WEEKLY 1.3941 1.4087 1.4246 1.4392 1.4551 1.4697 1.4856
MONTHLY 1.3209 1.3644 1.3945 1.4380 1.4681 1.5116 1.5417
 

EUR/USD

EUR/USD has broken below its H4 50 EMA and is currently trying to close below 1.1100, which would put the bear sin the driving seat as they look to target 1.1050, 1.1000 and 1.0968. Should bulls manage to hold 1.1100, they will look to break above the 100 EMA and target 1.1175, 1.1200 and 1.1250.


EUR/USD  
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1102 1.1107 1.1114 1.1119 1.1126 1.1131 1.1138
WEEKLY 1.0858 1.0961 1.1048 1.11581 1.1238 1.1341 1.1428
MONTHLY 1.0425 1.0567 1.0702 1.0844 1.0979 1.1121 1.1256
 

USDJPY

USDJPY has hit our downside target of 112.50 and is currently testing resistance at 113.00. A failure here, would see bears push for 112.50, 112.00 and new yearly lows below 110.96. However, should bulls manage to take 113.00, we would see them target 113.80, 114.50 and 115.00 where heavy resistance awaits.


USDJPY  
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 112.21 112.32 112.42 112.53 112.63 112.74 112.84
WEEKLY 108.98 110.63 111.60 113.25 114.22 115.87 116.84
MONTHLY 111.70 113.83 117.44 119.57 123.18 125.31 128.92
 

CRUDE OIL

Crude could not extend past $34 as fresh selling saw prices drop to the $32 support level which coincides with the back of the recent down slope and is just above the $32 H4 50 and 100 EMA confluence which will prove tough for bears to overcome. Upside targets are at $34, $34.50, $35.00 and $35.50 which would confirm the formation of a double bottom and have fresh buying enter the market. However, should bears manage to retake $31.50, we would see them try for $29 with interim targets at $31 and $30.


CRUDE OIL  
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 31.34 31.52 31.66 31.84 31.98 32.16 32.30
WEEKLY 24.96 26.83 28.24 30.11 31.52 33.39 34.80
MONTHLY 20.53 25.19 28.07 32.73 37.39 40.27 44.93