EURUSD

The pair continues to trade below last week’s open after bears successfully defended the 1.1600 region. Currently the pair is looking for direction as it straddles the H4 50 and 100 EMA`s. Bulls will be looking to capture 1.1425 with targets at 1.1450, 1.1475 and 1.1500 as they try pivot higher from the 50 % fibo retracement of the more than 400 pip gains they made in the last 2 weeks. Bears will look to capture 1.1375, extending their recent momentum and targeting 1.1350, 1.1325 and 1.1300 as they retest the medium term upward sloping trend line.

EURUSD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1316 1.1373 1.1379 1.1390 1.1396 1.1407 1.1413
WEEKLY 1.1088 1.1236 1.1321 1.1469 1.1554 1.1702 1.1787
MONTHLY 1.1037 1.1125 1.1290 1.1378 1.1543 1.1631 1.1796
 

GBPUSD

The pair continues to trade in last week direction, retesting support and looking rather heavy as bears continue their downward assault. Should bears capture 1.4400, they will target 1.4350, 1.4300 and 1.4250 as they look to trade deeper into oversold territories. Bulls will be looking to regain their composure and would need to hold on to 1.4400 as a first step, before overcoming key resistance at 1.4450-1.4500 levels if they have any chance of attracting fresh money and shaking out some bears.

GBPUSD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4393 1.4404 1.4414 1.4425 1.4435 1.4446 1.4456
WEEKLY 1.3943 1.4177 1.4303 1.4537 1.4663 1.4897 1.5023
MONTHLY 1.3520 1.3762 1.4187 1.4427 1.4854 1.5096 1.5521
 

AUDUSD

AUDUSD continues to look heavy with bears continuing their downward assault as markets begin to properly price in the RBA`s constant reminder that the AUD is overpriced. Bears will look to capture 0.7350 as confirmation of their strength, attracting new sellers as they target 0.7300, 0.7250 and 0.7200. However, should bulls manage to regain their composure and capture 0.7400, we would see the pair trade higher as 0.7450, 0.7500 and 0.7550 are retested.

AUDUSD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7328 0.7340 0.7357 0.7369 0.7386 0.7398 0.7415
WEEKLY 0.6842 0.7089 0.7229 0.7476 0.7616 0.7863 0.8003
MONTHLY 0.7100 0.7294 0.7448 0.7642 0.7796 0.7990 0.8144
 

CRUDE OIL

Crude oil is at a pivotal moment as we see 46 being retested after bulls managed to pull prices upwards from the 44-45 key support areas. Support remains heavy in these areas as we see the h4 50 and 100 EMA`s standing guard. Should bulls manage to hold on to 46, we would see them target 47, 48 and 49 as they look to the 50 USD prize. However, should bears manage to capture 45, they will look to target 44, which once captured will open the flood gates for further selling as key support is overturned and fortified as resistance, allowing bears to springboard lower to the likes of 43, 42 and 41.

CRUDE OIL

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 44.18 44.60 45.10 45.52 46.02 47.61 49.07
WEEKLY 40.28 41.75 43.21 44.68 46.14 47.61 49.07
MONTHLY 26.98 31.11 38.52 42.65 50.06 54.19 61.60