EUR/USD

The pair has found support at 1.1225 after sliding several hundred pips from last week’s highs. Currently we are seeing support in the form of the 38.2% fibo level which has resulted in two hammers being formed as bulls keep price bid and look to push higher. Bulls will look to recapture 1.1275 with targets at 1.1300, 1.1325 and 1.1350, while if bears manage to close below the 1.1225, we would see them attempt a r un at the 23.6% fibo and 1.1200 handle in hopes of driving prices lower with targets at 1.1175, 1.1150 and 1.1125.


EUR/USD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1213 1.1224 1.1232 1.1243 1.1251 1.1262 1.1270
WEEKLY 1.1017 1.1130 1.1191 1.1304 1.1365 1.1478 1.1539
MONTHLY 1.0426 1.0761 1.0947 1.1282 1.1468 1.1803 1.1989
 

AUDUSD

AUDUSD bears have stalled just above the 50% fibo retracement after two solid days of selling which saw the pair shed 150 pips. Currently the pair has broken above the counter trend line and a capture of 0.7420 would suggest the pair is set for higher highs with targets at 0.7450, 0.7475 and 0.7500. However, should bears manage to hold the upcoming 50 and 100 EMA resistance, we will see them attempt to push even lower with targets at 0.7350, 0.7225 and 0.7200.



 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7352 0.7359 0.7365 0.7372 0.7378 0.7385 0.7391
WEEKLY 0.7094 0.7203 0.7287 0.7396 0.7480 0.7589 0.7673
MONTHLY 0.7130 0.7346 0.7517 0.7733 0.7904 0.8120 0.8291
 

GOLD

Gold continued its bullish trajectory all of last week and has been relentless in making higher highs, posting over 50 USD gains last week. If bulls manage to capture 1284, we will see them push higher to 1290, 1295 and 1300. However, should bears manage to capture 1272, we could see a change in trend as bears retake control and bulls take profit, resulting in the precious metal falling to 1265, 1260 and 1255.




TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1272.30 1274.15 1277.30 1279.15 1282.30 1284.15 1287.30
WEEKLY 1205.76 1221.13 1247.26 1262.63 1288.76 1304.13 1330.26
MONTHLY 1069.00 1134.00 1174.40 1239.40 1279.80 1344.80 1385.20
 

CRUDE OIL

Crude has made a much anticipated retracement as we see bulls take profit and bargain hunter bears sell the multi month highs. Currently we are seeing the 23.6% fibo being tested, which if it holds, will see bulls resurface to make an attempt on last week’s highs with interim targets at 49.50, 50.00 and 50.50. However, should bears mange to drive prices lower, capturing 47.50, we could have a trend change on our hands with targets at 47.00, 46.50 and 46.00.


crude oil
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 48.26 48.43 48.55 48.72 48.84 49.01 49.13
WEEKLY 45.01 46.86 47.97 49.82 50.93 52.78 53.8
MONTHLY 37.51 40.27 44.69 47.45 51.87 54.63 59.05