EUR/USD

Bears have managed to take control of the pair, breaking below the 61.8% fibo and trading well below the short term bullish trend line to test 1.1025. Currently the pair is retracing some of those losses as bears take profit and bulls enter at what they consider bargain levels. The biased favours the downside and upside momentum is expected to find resistance at 1.1075, 1.1100 and 1.1125 where bears will be looking to continue their onslaught with targets at 1.1025, 1.1000 and 109.75.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0892 1.0975 1.1019 1.1102 1.1146 1.1229 1.1273
WEEKLY 1.0812 1.1089 1.1013 1.1091 1.1214 1.1292 1.1415
MONTHLY 1.0339 1.0624 1.0864 1.1149 1.1389 1.1674 1.1914
 

GBPUSD

Cable has lost 500 pips since market open yesterday as heavy selling pressure has seen key support levels destroyed as he pair bottomed out at 1.2800, levels not seen in over 31 years. Currently the pair is retracing some of the losses as bulls look to target 1.3000, a key handle which is likely where the next battle for direction will take place. The bias is heavily weighed to the downside and it won’t take much to reignite a bearish run. Upside targets are at 1.2950, 1.3000 and 1.3050. Downside targets are at 1.2900, 1.2850 and 1.2800.


GBPUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2516 1.2733 1.2849 1.3066 1.3182 1.3399 1.3515
WEEKLY 1.2620 1.2869 1.3066 1.3315 1.3512 1.3761 1.3958
MONTHLY 1.0706 1.1912 1.2611 1.3817 1.4516 1.5722 1.6421
 

USDJPY

The pair continued to slide as bears target the post Brexit lows of 99.00 and has led to the pair losing over 200 pips since yesterday before finding support at 100.50. Currently the pair is back above 101.00 and bulls will look to move prices higher as they take advantage of the short term momentum they have built. Ultimately the trend is bearish and bears will be looking to reignite the medium term trend to the downside with targets at 100.50, 100.00 and 99.50. While upside target are at 101.50, 101.75 and 102.00.


USDJPY
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 99.23 100.16 100.67 101.60 102.11 103.04 103.55
WEEKLY 99.43 100.40 101.47 102.44 103.51 104.48 105.55
MONTHLY 86.20 92.64 97.97 104.41 109.74 116.18 121.51
 

GOLD

Gold has surpassed its post Brexit highs to trade at 1370, levels not seen since early 2014 and appears to be strongly bullish as we see the 50 and 100 EMAS continuing to form support at a steep gradient. Upside targets are at 1380, 1390 and 1400. In the short term we might see some respite on light profit taking with targets at 1365, 1355 and 1350.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1320.44 1330.07 1347.59 1357.22 1374.74 1384.37 1401.89
WEEKLY 1284.86 1298.23 1317.46 1330.83 1350.06 1363.43 1382.66
MONTHLY 1080.46 1142.93 1230.66 1293.13 1380.86 1443.33 1531.06