EUR/USD

The EURUSD has started the week lower after posting 3 weeks of positive trading which has seen the pair gain over 500 pips. Currently the pair is trading just above the 1.1250 support level with bulls looking to defend the level as they ty complete their goal of breaking above 1.1375. Bears will of course have a different agenda and be looking to target the 1.1100 region, selling any rallies with force at they try take back some their recent losses. Support is at 1.1250, 1.1200 and 1.1168. Resistance is at 1.1300, 1.1350 and 1.1375.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1240 1.1250 1.1262 1.1272 1.1284 1.1294 1.1306
WEEKLY 1.0811 1.0933 1.1101 1.1223 1.1391 1.1513 1.1681
MONTHLY 1.0100 1.0456 1.0665 1.1021 1.1230 1.1586 1.1795
 

GBP/USD

GBPUSD has hit our 1.4400 target after bulls could not hold onto 1.4500. The pair is looking to retrace deeper into its recent gains, which have seen the GBP gain over 680 pips over the green back in the last 3 weeks. The longer term picture, let’s not forget, is bearish and should bears manage to hold 1.4400, they will look for 1.4350, 1.4300 and 1.4240 as they try gain more followers to the downside. Resistance is currently at 1.4450, 1.4500 and 1.4550.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4425 1.4435 1.4448 1.4458 1.4471 1.4481 1.4494
WEEKLY 1.3717 1.3884 1.4183 1.4350 1.4649 1.4816 1.5115
MONTHLY 1.2773 1.3303 1.3609 1.4139 1.4445 1.4975 1.5281
 

USD/JPY

USDJPY has managed to peak below 111 yet again but found strong support as the pair continues to trade in the same range for the last 5 weeks. Bulls will be looking to hold 111 and target 111.50, 112.00 and 112.50 as they try recoup some of this week’s losses. Bears will use one of these resistance levels as a spring board to attack deeper into this year’s lows as the stochastic has moved into overbought levels, targeting 111.00, 110.50 and 110.

USD/JPY

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 111.08 111.21 111.33 111.46 111.58 111.71 111.83
WEEKLY 106.77 108.71 110.14 112.08 113.51 115.45 116.88
MONTHLY 98.10 104.54 108.62 115.06 119.14 125.58 129.66
 

GOLD

GOLD has dropped more than $20 since forming early signs of a right shoulder in what is shaping up to be a bearish head and shoulder. A Close below the H4 100 EMA will see early adopters adding positions and new shorts entering as bears expect the current downward momentum to continue. Support lies at 1240, 1235 and 1225. Resistance is at 1245, 1250 and 1255.

GOLD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1249.34 1251.37 1252.64 1254.67 1255.94 1257.97 1259.24
WEEKLY 1189.06 1208.53 1231.16 1250.693 1273.26 1292.73 1315.36
MONTHLY 1000.36 1057.83 1145.86 1203.33 1291.36 1348.83 1436.86