USDJPY

USD/JPY held on to its mildly positive tone through the early European session on Tuesday, with bulls now eyeing a follow-through momentum beyond the very important 200-day SMA. The prevalent risk-on mod continues to dent JPY’s safe-haven demand, but the upside remains capped amid weaker USD ahead of the US inflation figures. USD/JPY is expected to find support at 111.19, and a fall through could take it to the support level of 111.00. On the other side, resistance stands at 111.55, and a rise through could take it to the level of 111.70.

USDJPY_12_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.53 110.70 111.02 111.19 111.50 111.68 111.99
WEEKLY 109.22 110.00 110.58 111.36 111.94 112.72 113.30
MONTHLY 106.80 107.76 109.58 110.54 112.36 113.32 115.14
 

EURUSD

EUR/USD extends its weekly correction higher to the 1.1270/80 band, with the upside move being supported by another bout of optimism favouring the riskier assets, in turn sustained by increasing speculations of a potential Brexit deal in the next weeks. EUR/USD is expected to find support at 1.1238 and a fall through could take it further to the support level of 1.1157. On the other side, resistance stands at 1.1292, and a rise through could take it to the next resistance level of 1.1312.

EURUSD_12_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1175 1.1198 1.1229 1.1253 1.1284 1.1308 1.1338
WEEKLY 1.0925 1.1051 1.1146 1.1272 1.1367 1.1493 1.1588
MONTHLY 1.0982 1.1107 1.1239 1.1364 1.1496 1.1621 1.1753
 

GBPUSD

GBP/USD held on to its positive tone just below the 1.3200 handle and had a quiet reaction to the latest UK macro data, despite a notable pull-back from the session’s highs. Focus remains on the UK Parliament vote on PM May’s amended withdrawal agreement. GBP/USD is expected to find support at 1.3153 and a fall through could take it to the next support level of 1.3116. On the other side, resistance stands at 1.3255, and a rise through could take it to the next resistance level of 1.3288.

GBPUSD_12_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2712 1.2836 1.3040 1.3164 1.3368 1.3492 1.3696
WEEKLY 1.2737 1.2889 1.3047 1.3199 1.3357 1.3509 1.3667
MONTHLY 1.2328 1.2550 1.2907 1.3129 1.3486 1.3708 1.4065
 

GOLD

Gold is reporting moderate gains, despite the risk reset in equities. The yellow metal is currently trading at $1,296.30 - up 0.5 percent from the low of $1,290 seen yesterday and is likely to draw further strength from the weakness in the US dollar. Gold is expected to find support at the level of 1,289.80 and a fall through could take it to 1,285.70 level. On the other side, resistance stands at 1,300.00, and a rise through could take it to the next resistance level of 1,305.60.

Gold_12_03_2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1279.46 1285.03 1288.06 1293.63 1296.66 1302.23 1305.26
WEEKLY 1265.80 1273.30 1286.30 1293.80 1306.80 1314.30 1327.30
MONTHLY 1252.16 1278.43 1297.26 1323.53 1342.36 1368.63 1387.46