EURUSD

The EURUSD is still in a downtrend but not for lack of trying from bulls wo have managed to capture a significant mass of land as they look to put in a higher high above 1.1216. Phase 1 for a bullish comeback will be to top 1.1216 and manage to hold the pair up long enough to make a higher low, regain strength and push for a higher high with targets at 1.1250, 1.1300 and 1.1350. Bears will look to prevent the higher high being made and will throw everything at protecting 1.1200 with an aim to make a lower low below 1.1150 as a starting point to making a new low below 1.1115 and ultimately below 1.1095 which would have the downtrend firmly in place.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1056 1.1085 1.1136 1.165 1.1216 1.1245 1.1296
WEEKLY 1.0928 1.1017 1.1066 1.1155 1.1204 1.1293 1.1342
MONTHLY 1.1037 1.1125 1.1290 1.1378 1.1543 1.1631 1.1796
 

AUDUSD

The H1 chart has the AUSUSD making higher highs and higher lows implying the pair is currently in an uptrend with bears hot in pursuit of making a lower low below 0.7215 as a first step to turning the trend bearish and capturing 0.7200, 0.7175 and 0.7150. Bulls will look to hold 0.7225 and push prices higher with a close above the inside trend line likely to be the beginning of a bullish assault with the aim of making a higher high at 0.7300, with interim targets at 0.7250 and 0.7275.


AUDUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7146 0.7187 0.7217 0.7258 0.7288 0.7329 0.7359
WEEKLY 0.7010 0.7076 0.7130 0.7196 0.7250 0.7316 0.7370
MONTHLY 0.7100 0.7294 0.7448 0.7642 0.7796 0.7990 0.8144
 

GOLD

Bears drove prices to just shy of 1205 in a last ditch attempt to capture 1200 as bulls stepped up their game, reversing the majority of the move over night. Bulls will be looking to capture 1220 with targets at 1225, 1230 and 1235 as they retake some of the more than 100 USD lost last month. Downside targets are at 1210, 1205 and 1200.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1193.10 1199.25 1207.50 1213.65 1221.90 1228.05 1236.30
WEEKLY 1151.06 1178.73 1196.26 1223.93 1241.46 1269.13 1286.66
MONTHLY 1147.46 1178.33 1233.76 1264.63 1320.06 1350.93 1406.36
 

CRUDE OIL

Crude is consolidating around 49 USD per barrel as markets await fundamental news before deciding on the next direction to take. We will likely see some covering of positions and speculative position being placed which might cause some volatility in the commodity. Upside targets are at 49.50, 50.50 and 51. Downside targets are at 48.00, 47.50 and 47.00.


CRUDE OIL
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 46.51 47.13 48.01 48.63 49.51 50.13 51.01
WEEKLY 44.94 46.17 47.75 48.98 50.56 51.79 53.37
MONTHLY 26.98 31.11 38.52 42.65 50.06 54.19 61.60