EUR/USD

The pair continues to consolidate in an ever tightening range as markets seek direction. The current range has tightened to form a triangle which will see a breakout in one direction or the other, giving traders a signal to buy a break above of 1.10685 with targets at 1.1075, 1.1100 and 1.1125 while a break below 1.1050 will signal a sell with targets at 1.1025, 1.1000 and 1.0975.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0923 1.0968 1.1021 1.1066 1.1119 1.1164 1.1217
WEEKLY 1.0347 1.0628 1.0872 1.1153 1.1397 1.1678 1.1922
MONTHLY 1.0426 1.0761 1.0947 1.1282 1.1468 1.1803 1.1989
 

GBPUSD

The pair has consolidated into a wedge as market uncertainty results in a lack of direction, causing price to wind tighter and tighter. A close above 1.3343 will see bulls look to target 1.3350, 1.3375 and 1.3400. While a break below 1.3285 will see bears target 1.3275, 1.3250 and 1.3225.


GBPUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3046 1.3133 1.3244 1.3331 1.3442 1.3529 1.3640
WEEKLY 1.1134 1.2179 1.2930 1.3975 1.4726 1.5571 1.6522
MONTHLY 1.3842 1.4086 1.4282 1.4526 1.4722 1.4966 1.5162
 

USDJPY

Bulls managed to drive price higher yesterday as they looked to erase some of their recent losses but couldn’t overcome the 102.75 level as bear’s re-entered the market to sell the rally, driving prices back below the 102.50 balance point to trade at 102.25. Key resistance can be found at 102.50, 102.75 and 103.00. Key support can be found at 102.00, 101.75 and 101.50.


USDJPY
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 100.60 101.08 101.88 102.36 103.16 103.64 104.44
WEEKLY 90.82 94.95 98.59 102.72 106.36 110.49 114.13
MONTHLY 101.06 103.29 107.00 109.23 112.94 115.17 118.88
 

GOLD

Bulls are testing the downward sloping trend line after managing to hold off bears at 1305 and are hoping to reignite bullish momentum and testing recent multiyear highs. Should bulls capture 1320, they will target 1330, 1340 and 1350. However, should bears manage to defend the trend line and recapture 1315, we would see them target 1310, 1300 and 1290 as they look to recapture some of their losses form last week.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1308.70 1310.85 1313.95 1316.10 1319.20 1321.35 1324.45
WEEKLY 1162.04 1207.87 1263.94 1309.77 1365.84 1411.67 1467.74
MONTHLY 1069.00 1134.00 1174.40 1239.40 1279.80 1344.80 1385.20