USD/JPY

USD/JPY slumped to 107.80 on a dismal ADP report but then recovered to above 108.40, meeting June 3rd highs. The pair is currently trading at 108.18, as the market has moved from concerns over global growth and pessimism due to trade wars to cheering the likelihood of a near term rate cut from the Federal Reserve. USD/JPY is expected to find support at 107.87 and a fall through could take it to the support level of 107.59. On the other side, resistance stands at 108.40, and a rise through could take it to the level of 108.69.

USDJPY-06-06-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.27 107.55 107.93 108.21 108.60 108.87 109.26
WEEKLY 106.06 107.17 107.72 108.83 109.38 110.49 111.04
MONTHLY 103.74 106.01 107.15 109.42 110.56 112.83 113.97

EURUSD

EUR/USD trades with decent gains above the 1.1200 handle as an increasing weakness surrounding the Dollar in past sessions has propped up the sharp upside in the pair. However, sellers appear to be clustered above 1.1300 the figure and this is somehow limiting occasional bullish attempts for the time being. EUR/USD is expected to find support at 1.1196 and a fall through could take it further to the support level of 1.1172. On the other side, resistance stands at 1.1255, and a rise through could take it to the next resistance level of 1.1283.

EURUSD-06-06-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1110 1.1165 1.1196 1.1251 1.1282 1.1337 1.1368
WEEKLY 1.1016 1.1066 1.1117 1.1167 1.1218 1.1268 1.1319
MONTHLY 1.0936 1.1022 1.1095 1.1181 1.1254 1.1340 1.1413

GBPUSD

GBP/USD remains on the road to recovery, as an absence of negatives from the US President Trump’s UK visit and overall US Dollar weakness helps the Pound recently. Traders now await signals of future monetary policy action by the Bank of England (BOE) Governor Mark Carney when he speaks at the Institute of International Finance Spring Meeting, in Tokyo. GBP/USD is expected to find support at 1.2645 and a fall through could take it to the next support level of 1.2627. On the other side, resistance stands at 1.2700, and a rise through could take it to the next resistance level of 1.2731.

GBPUSD-06-06-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2601 1.2640 1.2664 1.2704 1.2728 1.2768 1.2792
WEEKLY 1.2344 1.2451 1.2542 1.2649 1.2740 1.2847 1.2938
MONTHLY 1.1782 1.2170 1.2401 1.2789 1.3020 1.3408 1.3639

GOLD

Gold finally broke out of its early session consolidation phase and spiked to near 3-1/2-month tops, around the $1,335 level in the last hour. Buying interest around the precious metal picked up the pace on Wednesday in wake of firming expectations that the Fed will eventually cut interest rates in the face of escalating US-China trade tensions. Gold is expected to find support at 1,322.20 and a fall through could take it to the support level of 1,317.60. On the other side, resistance stands at 1,337.40, and a rise through could take it to the level of 1,341.50.

GOLD-06-06-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1308.59 1319.32 1327.29 1338.02 1345.99 1356.72 1364.69
WEEKLY 1251.84 1262.87 1284.34 1295.37 1316.84 1327.87 1349.34
MONTHLY 1240.84 1254.07 1279.94 1293.17 1319.04 1332.27 1358.14