EUR/USD

The pair retraced the post Brexit drop for the duration of last week as bulls managed to recover 50% of the initial sell off. Currently the pair has stalled at the 50% fibo and is looking heavy after being capped at 1.1175. Should bears manage to capture 1.1125 we would expect them to test lower with targets at 1.1100, 1.1075 and 1.1050. However, should bulls manage to overcome key resistance at 1.1175, we would expect a deeper correction of last week’s drop with targets at 1.1200, 1.1225 and 1.1250.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1112 1.1119 1.1124 1.1131 1.1136 1.1143 1.1148
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
 

USDJPY

The pair retraced more than 50% of the post Brexit move and is currently trading back blow 103.00 after making highs of 103.35. Bears will look to hold 103.00 with an eye on 102.50, 102.00 and 101.50. However, should bulls reclaim 103.00, they will look to drive higher with targets at 103.25, 103.50 and 103.75.


USDJPY
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 102.13 102.29 102.38 102.54 102.63 102.79 102.88
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
 

AUDUSD

The pair continues to retrace deeper into the post Brexit drop with the pair currently trading at the 38.2% fibo and well on its way to retest 0.7525. Should bulls capture this level, they will look to test 0.7550, 0.7575 and 0.7600. However, if bears manage a close below 0.7500, we would see the pair align with the medium term trend and begin to sell off with targets at 0.7475, 0.7450 and 0.7425.


AUDUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7428 0.7438 0.7450 0.7460 0.7472 0.7482 0.7494
WEEKLY 0.7179 0.747 0.7372 0.7440 0.7565 0.7633 0.7758
MONTHLY 0.6767 0.6983 0.7217 0.7433 0.7667 0.7883 0.8117
 

GOLD

Gold has been the most consistent post Brexit as it remains at the highs made after the vote results. Currently the precious metal is retesting the 1350 zone with upside targets at 1360,1370 and 1380. Should bears mange to hold 1350, we would expect to see a sell off to 1340, 1330 and 1320.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1331.69 1335.27 1340.39 1343.97 1349.09 1352.67 1357.79
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