EUR/USD

1.0850 held up despite a heavy assault from bears who were quickly reigned in by hungry bulls who defended their stop with aggression. The pair is currently back at the 1.0900 resistance level and should bulls manage to close above it, we will see the key support level being moved higher to 1.0875 as bulls set up base for an attack on 1.0925, 1.0950 and 1.0975. However, should bears find some much needed reserves, capturing 1.0875, we might see them attempt 1.0850, 1.0825 and 1.0800.

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0798 1.0823 1.0856 1.0881 1.0914 1.0939 1.0972
WEEKLY 1.0629 1.0743 1.0813 1.0927 1.0997 1.1111 1.1181
MONTHLY 1.0921 1.1020 1.1131 1.1230 1.1341 1.1440 1.1551
 

USDJPY

The bullish run was stopped just short of 105.00 as bears made another attempt on 104.00 in a blitz attack which was forceful and decisive, but no match for the bull`s solid defense at 104.00 as we see the pair back at the 104.25 level. 104.00 forms the key support and if taken will see 103.75, 103.50 and 103.25 exposed as bears continue south. However, should bulls manage to capture 104.50, we would see them march on, with little resistance as they capture 104.75, 105.00 and 105.25.

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 103.13 103.61 103.92 104.40 104.71 105.19 105.50
WEEKLY 101.91 102.53 103.18 103.80 104.45 105.07 105.72
MONTHLY 95.23 97.65 99.49 101.91 103.75 106.17 108.01
 

AUDUSD

Bulls were victorious yesterday after overcoming bearish assaults on 0.7600 to print highs just above 0.7700 as they look to march forward to 0.7725, 0.7750 and 0.7775. However, should bears recapture 0.7675, we could see the battle at these levels intensified as they look to secure 0.7650, 0.7625 and 0.7600.

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7534 0.7560 0.7603 0.7629 0.7672 0.7698 0.7741
WEEKLY 0.7382 0.7480 0.7543 0.7641 0.7704 0.7802 0.7865
MONTHLY 0.7185 0.7312 0.7488 0.7615 0.7791 0.7918 0.8094
 

GOLD

Gold bulls had a spectacular day yesterday as they valiantly defended the 1260 support level before driving straight to the 1275 resistance level where we have since seen some profit taking and early bearish adopters enter the market. Bulls will be looking to capture 1275 and use it as a spring board to 1280, 1285 and 1290. However, bears might have a thing to say about this as they look to retrace a little deeper, with a well-placed defense at 1275, we will likely see them look to test 1270 and 1265 where the balance of power lies.

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1255.96 1260.03 1265.96 1270.03 1275.96 1280.03 1285.96
WEEKLY 1231.76 1240.83 1253.36 1262.43 1274.96 1284.03 1296.56
MONTHLY 1244.04 1272.77 1293.04 1321.77 1342.04 1370.77 1391.04