EUR/USD

The pair has topped out at 1.1380and has since pulled back to retest 1.1300. Currently the pair is still in an uptrend and a break above 1.1342 would suggest that the uptrend will be resuming with targets at 1.1375, 1.1400 and 1.1425. However, should the bears manage to capture 1.1325, we will see the correction deepen as they test targets at 1.1300, 1.1275 and 1.1250.


 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1208 1.1255 1.1289 1.1336 1.1370 1.1417 1.1451
WEEKLY 1.0993 1.1061 1.1169 1.1237 1.1345 1.1413 1.1521
MONTHLY 1.0426 1.0761 1.0947 1.1282 1.1468 1.1803 1.1989
 

GBPUSD

The pair has found resistance at 1.4700 which coincide with the top of a range spanning several months and likely to present a challenge to the hungry bulls who have swooped in to capture 700 pips in under a week. Should the bull’s capture 1.4725 we would expect them to hunt for 1.4750, 1.4775 and 1.4800. However, we might see some profit taking with bears looking to enter at bargain levels, with a break below 1.4650 opening the way for 1.4625, 1.4600 and 1.4575.


 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4376 1.4454 1.4563 1.4641 1.4750 1.4828 1.4937
WEEKLY 1.3738 1.387 1.4116 1.4252 1.4494 1.4630 1.4872
MONTHLY 1.3842 1.4086 1.4282 1.4526 1.4722 1.4966 1.5162
 

AUDUSD

Bulls have done well to leverage key support and with a capture of 0.7485 will be targeting 0.7500, 0.7525 and 0.7550. However, should bears manage to capture 0.7450, we would see them trigger stops which might give them some respite as the pair softens to 0.7425, 0.7400 and 0.7375.


 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7371 0.7398 0.7427 0.7454 0.7483 0.7510 0.7539
WEEKLY 0.7141 0.7212 0.7305 0.7376 0.7469 0.7540 0.7633
MONTHLY 0.6428 0.6785 0.7009 0.7366 0.7590 0.7947 0.8171
 

GOLD

Gold bears are resisting giving back some of the gains they managed to claw back from rampant bulls and the precious metal is trading at 1282 with a downward bias in the short term. Should bears manage to capture 1280, they will look to target 1275, 1270 and 1265. However, bulls will likely try to make a fresh run for recent highs and a capture of 1295 will likely be the trigger for this with targets at 1300, 1305 and 1310.


 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1269.26 1274.88 1282.91 1288.53 1296.56 1302.18 1310.21
WEEKLY 1228.14 1250.57 1271.54 1293.97 1314.94 1337.37 1358.34
MONTHLY 1069.00 1134.00 1174.40 1239.40 1279.80 1344.80 1385.20