EURUSD

Bulls managed to capture the 1.0700 resistance level, driving deeper to the 1.0735 level before profit taking saw the pair retrace to the 1.0710 support level. As it stands the pair is between the 1.0700 support level and the 1.0725 resistance level and a close beyond either will give us the likely direction to follow. A break above 1.0725 will see 1.0750, 1.0775 and 1.0800 exposed wile a close below 1.0700 will see bears look for a deeper consolidation with 1.0675, 1.0650 and 1.0625 back on the cards.

  EURUSD​ ​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0565 1.0600 1.0667 1.0702 1.0769 1.0804 1.0871
WEEKLY 1.0450 1.0509 1.0561 1.0620 1.0672 1.0731 1.0783
MONTHLY 1.0046 1.0269 1.0461 1.0684 1.0876 1.1099 1.1291
 

GBPUSD

Bulls were the star yesterday driving the pair just under 400 pips higher from the low before profit taking and bargain hunting selling saw the pair dip back toward the 1.2800 support level. As it stands a close above 1.2825 will expose further upside as bulls look to retest yesterday’s highs while a close below 1.2800 will imply a deeper retrace as bears look for the 1.2700 support level.

  GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2203 1.2358 1.2599 1.2754 1.2995 1.3150 1.3391
WEEKLY 1.2184 1.2273 1.2398 1.2487 1.2612 1.2701 1.2826
MONTHLY 1.1716 1.1911 1.2230 1.2425 1.2744 1.2939 1.3258
 

USDJPY

Bulls were the star yesterday driving the pair just under 400 pips higher from the low before profit taking and bargain hunting selling saw the pair dip back toward the 1.0800 support level. As it stands a close above 1.2825 will expose further upside as bulls look to retest yesterday’s highs while a close below 1.0800 will imply a deeper retrace as bulls look for the 1.2700 support level.

  USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.13 107.71 108.07 108.65 109.01 109.59 109.95
WEEKLY 104.50 106.51 107.58 109.59 110.66 112.67 113.74
MONTHLY 103.71 106.90 109.14 112.33 114.57 117.76 120.00
 

GOLD

Gold bulls overcame initial weakness to lift the precious metal off the 1280 support level and retest just above 1290 before bears reentered to drive the pair to just below the 1285 support level. As it stands, bulls are looking to establish support on the trend line and a close above 1285 will see further upside as bull look to test the 1300 handle. However, if bears manage to capture 1280, we would see further downside with 1250 exposed.

  GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1271.20 1275.90 1285.00 1289.70 1298.80 1303.50 1312.60
WEEKLY 1218.40 1233.30 1260.90 1275.80 1303.40 1318.30 1345.90
MONTHLY 1148.28 1172.23 1209.76 1233.73 1271.26 1295.23 1332.76