EUR/USD

EURUSD is ranging between the H4 50 and 100 EMA as it flirts with the 50% fibo, resistance turned support. A close below 100 EMA (blue) will see price follow the MACD and make for new lows, targeting 1.1050, 1.1000 and 1.09687. Should bulls manage a close above the 50 EMA (red), we would see them target 1.1200, 1.1250 and 1.1300.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1011 1.1057 1.1088 1.1134 1.1165 1.1211 1.1242
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

The GBPUSD has found strong support around the 1.4300 zone after shedding more than 250 pips this week. Markets are awaiting fundamentals before deciding on further direction. We expect 1.4250 and 1.4350 to cradle the pair. A close above 1.4350 is likely to yield tests of 1.4400, 1.4450 and 1.4500. While a close below 1.4250 will see the pair extend its longer-term trend and target 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 1.4121 1.4177 1.4230 1.4286 1.4339 1.4395 1.4448
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
 

USDJPY

The pair has retraced more than 38% of the 1000 plus pips it shed in FEB and is currently trading near key resistance in the form of the 115.00 handle, 4hr 50 EMA and the 61.8% fibo level, while the RSI is looking to peak lower from its overbought territories. A close below 113.80 will see a fresh charge for this month’s lows of 110.96 with interim targets at 113.00, 112.00 and 111.00. However, should bulls manage a close above 114.50, we would see a deeper retrace of the recent fall as bulls target 116.00, 117.00 and 118.00.

USDJPY

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 112.41 112.88 113.58 114.05 114.75 115.22 115.92
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 has extended its gains, now trading at 33.36 after finding strong support just below $31 and managed to spring board above the H4 50 and 100 EMA. Upside targets are at $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 $33, we would see them try for $30 with interim targets at $32 and $31.

CRUDE OIL

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 26.61 27.67 29.56 30.62 32.51 33.57 35.46
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