EURUSD

The pair traded range bound for most of yesterday and is currently testing yesterday’s open. As it stands, the range is between 1.1250 and 1.1275 with bulls looking to capture 1.1275 as a stepping stone to 1.1300, 1.1325 and 1.1350, while bears will look to capture 1.1250 as a stepping stone to 1.1225, 1.1200 and 1.1175.

  EURUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1202 1.1220 1.1249 1.1267 1.1296 1.1314 1.1343
WEEKLY 1.0986 1.1047 1.1165 1.1226 1.1344 1.1405 1.1523
MONTHLY 1.0534 1.0686 1.0965 1.1117 1.1396 1.1548 1.1827
 

GBPUSD

The pair retraced for the second half of yesterday as we saw bears test the 1.2875 support level before bulls reentered. Currently the pair is ranging between 1.2900 and 1.2925 with bulls looking to capture 1.2925 as a stepping stone to testing this week’s highs and beyond, while bears will look to retake 1.2900 as a conclusive show of strength which will expose 1.2875, 1.2850 and 1.2825.

  GBPUSD​ ​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2786 1.2828 1.2869 1.2911 1.2952 1.2994 1.3035
WEEKLY 1.2637 1.2702 1.2794 1.2859 1.2951 1.3016 1.3108
MONTHLY 1.2473 1.2620 1.2755 1.2902 1.3037 1.3184 1.3319
 

USDJPY

Bears continue to dominate despite some bullish pressure yesterday, testing the 109.20 support level on two occasion but failing to break through as light profit taking saw the pair head north for a test of 109.50. As it stands, bears are in the driving seat and will look to capture 109.25 as confirmation of a further move south, while bulls will look to capture 109.5 as a stepping stone to retesting the recent highs.

  USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.58 108.39 108.90 109.71 110.22 111.03 111.54
WEEKLY 108.48 109.39 109.90 110.81 111.32 112.23 112.74
MONTHLY 105.01 107.61 109.19 111.79 113.37 115.97 117.55
 

GOLD

Bulls managed to capture 1290 but were stopped at the 1295 resistance level, which saw the precious metal trade rangebound for the rest of the session. As it stands, bulls will look to leverage their momentum by capturing 1295 and shooting for 1300 and beyond, while bears will look to retake 1290 as a stepping stone to recovering this week’s losses with 1275 on their radar.

  GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1270.10 1276.10 1286.80 1292.80 1303.50 1309.50 1320.20
WEEKLY 1246.04 1253.67 1266.94 1274.57 1287.84 1295.47 1308.74
MONTHLY 1177.54 1197.67 1236.54 1256.67 1295.54 1315.67 1354.54