EUR/USD

EURUSD is ranging between the H4 50 and 100 EMA as it flirts with the 50% fibo, resistance turned support.  Bears could not hold onto momentum after they broke below the 100 EMA and prices are yet again ranging as markets look for direction. A retest of yesterday lows will see bears targeting 1.1050, 1.1000 and 1.09687. However, should bulls manage a close above the 50 EMA (red), we would see them target 1.1200, 1.1250 and 1.1300 as they look to close above this week’s open.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1089 1.1099 1.1106 1.1116 1.1123 1.1133 1.1140
WEEKLY 1.0810 1.0947 1.1104 1.1241 1.1398 1.1535 1.1692
MONTHLY 1.0425 1.0567 1.0702 1.0844 1.0979 1.1121 1.1256
 

GBP/USD

Bulls managed to spring board from the 1.4300 support zone, but gains were capped as bears defended the 1.4400 zone with vigour, resulting in the pair trading back at the 1.4300 as bears look to turn the tide. A close above 1.4350 is likely to yield tests of 1.4400, 1.4450 and 1.4500. While a close below 1.4300 will see the pair extend its longer-term trend and target 1.4250, 1.4200, 1.4100 and possibly new multi-year lows below 1.4078.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4317 1.4322 1.4327 1.4332 1.4337 1.4342 1.4347
WEEKLY 1.4149 1.4250 1.4378 1.4479 1.4607 1.4708 1.4836
MONTHLY 1.3209 1.3644 1.3945 1.4380 1.4681 1.5116 1.5417
 

USD/JPY

Bears have managed a close below 113.80 and are testing 113.00 after finding strong resistance at 114.50/115.00. A close below earlier tests of 113.00, will see a fresh charge for this month’s lows of 110.96 with interim targets at 112.00 and 111.00. However, should bulls manage a close above 113.80, we would see a deeper retrace of the recent fall as bulls target 116.00, 117.00 and 118.00 by way of 114.50 and 115.00.

USD/JPY

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 112.85 112.95 113.02 113.12 113.19 113.29 113.36
WEEKLY 107.35 109.86 111.41 113.92 116.43 117.98 120.49
MONTHLY 111.70 113.83 117.44 119.57 123.18 125.31 128.92
 

CRUDE OIL

Crude could not extend past $34 as fresh selling saw prices drop to the $32.80 support level which coincides with the back of the recent downslope and is just above the $32 H4 50 and 100 EMA confluence which will prove tough for bears to overcome. Upside targets are at $34, $34.50, $35.00 and $35.50 which would confirm the formation of a double bottom and have fresh buying enter the market. However, should bears manage to retake $31.50, we would see them try for $29 with interim targets at $31 and $30. You can now trady a variety of commodities on opteck's platform

CRUDE OIL

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 28.15 29.21 29.86 30.92 31.57 32.63 33.28
WEEKLY 23.63 25.67 26.92 28.96 31.00 32.25 34.29
MONTHLY 20.53 25.19 28.07 32.73 37.39 40.27 44.93