EUR/USD

Bulls could not sustain a break above the weeks high and we saw light profit taking as the 1.0700 support level came under fire. Bulls managed to hold the level and we are now testing the 1.0725 resistance level which if they manage to close above will result in a potential test of 1.0750, 1.0775 and 1.0800. However, if bears manage to close below 1.0700 we are likely to se further downside as bears look for the longer-term trend line at around 1.0650.

EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0654 1.0676 1.0694 1.0716 1.0734 1.0756 1.0774
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 could not hold on to the 1.2850 resistance level and we have since seen another wave down before support was found at the 1.2775 support level. Currently bulls are pushing to break the 1.2825 resistance level, and if they are successful, we will see further upside as bulls look to retest 1.2900. However, if bears retake 1.2800, we are likely to see further weakness as bears look to test deeper.

GBPUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2646 1.2706 1.2742 1.2802 1.2838 1.2898 1.2934
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

The wedge continues to tighten as we see bulls unable to sustain a break above 109.00 while bears struggle at the 108.75 support level. As it stands bears will look to close below 108.75 in hopes of igniting a move lower with an eye on 108.00 while bulls will look to capture 109.00 with hopes of retesting the 110.00 resistance level.

wti
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.57 107.96 108.41 108.80 109.25 109.64 110.09
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

Bears managed to hold the 1285 resistance level before sending the precious metal tumbling over 12USD lower. Bulls recovered quickly and are currently retesting the 1280 resistance level which if they manage to capture will likely see a move higher with 1300 in their scopes. However, if bears manage to capture 1275, we will likely see a drop in price as optimistic bears look for the 1250 support level.

GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1257.66 1266.53 1274.96 1283.83 1292.26 1301.13 1309.56
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