EURUSD

Bears are continuing yesterday’s selloff after capturing 1.0925. As it stands the short term is in a downtrend and bears will have to keep prices below 1.0925 if they wish to continue lower for a possible test of 1.0850. However, if bulls manage to close above 1.0925, we would see a potential reversal pattern which would put in place the continuation of the medium-term trend up with 1.1000 on the radar.

  EURUSD​ ​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0775 1.0845 1.0884 1.0954 1.0993 1.1063 1.1102
WEEKLY 1.0785 1.0829 1.0914 1.0958 1.1043 1.1087 1.1172
MONTHLY 1.0276 1.0422 1.0660 1.0806 1.1044 1.1190 1.1428
 

GBPUSD

The pair made a lower low yesterday, laying the ground work for a potential reverse to the downside. Should bears maintain their grip on 1.2950, we could see further weakness with potential targets at 1.2900, 1.2850 and 1.2800. However, if bulls manage to capture 1.2950, we could have a continuation of the medium-term trend to the north with targets at 1.3000, 1.3050 and 1.3100.

  GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2849 1.2888 1.2914 1.2953 1.2979 1.3018 1.3044
WEEKLY 1.2723 1.2776 1.2879 1.2932 1.3035 1.3088 1.3191
MONTHLY 1.1943 1.2152 1.2552 1.2761 1.3161 1.3370 1.3770
 

USDJPY

Bulls overcame mild selling pressure to form a solid base at 112.50 before catapulting higher. As it stands the pair is testing the 113.50 resistance level, which if bulls manage to capture, will see the pair head further north. However, if bears manage to hold 113.50, we are likely to see a retest of 113.25, 113.00 and 112.75.

  USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 111.68 112.02 112.63 112.97 113.58 113.92 114.53
WEEKLY 109.70 110.44 111.58 112.32 113.46 114.20 115.34
MONTHLY 105.51 106.81 109.18 110.48 112.85 114.15 116.52
 

GOLD

Gold managed to put in place a higher high yesterday but has since struggled to find any real support ahead of the 1225 level. As it stands, bulls will be looking to hold 1225 in hopes of forming the right shoulder of the head and shoulder pattern. If bulls manage to hold the level, we will likely see a push north with 1250 on the radar. However, if bears close below 1220, the head and shoulder is void and we are likely to see further weakness with 1215, 1210 and 1205 on the cards.

  GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1203.86 1212.43 1219.76 1228.33 1235.66 1244.23 1251.56
WEEKLY 1164.24 1194.97 1210.94 1241.67 1257.64 1288.37 1304.34
MONTHLY 1191.34 1218.37 1243.34 1270.37 1295.34 1322.37 1347.34