EURUSD

The pair has broken below the 1.0700 handle and bears seems to be enjoying their run. As it stands the pair is in slight consolidation with 1.0675 forming the support while 1.0700 forms the resistance line. Bears will look to capture 1.0675 with an eye on 1.0650, 1.0625 and 1.0600 while bulls will look to capture 1.0700 in a bid to regain some ground going into the weekend with potential targets at 1.0725, 1.0750 and 1.0775.

  EURUSD​ ​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0535 1.0602 1.0638 1.0705 1.0741 1.0808 1.0844
WEEKLY 1.0625 1.0671 1.0735 1.0781 1.0845 1.0891 1.0955
MONTHLY 1.0098 1.0295 1.0436 1.0633 1.7740 1.0971 1.1112
 

GBPUSD

The pair retraced upwards yesterday as bulls retested the 1.2525 resistance level before bears stepped in to retake the 1.2500 level reigniting the trend down. As it stands, bears will look to keep control of 1.2475 as a stepping stone to 1.2450, 1.2425 and 1.2400 while bulls will need to capture 1.2500 if they are to convince markets of a change of trend to the upside.

  GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2275 1.2338 1.2403 1.2466 1.2531 1.2594 1.2659
WEEKLY 1.2159 1.2246 1.2358 1.2445 1.2557 1.2644 1.2756
MONTHLY 1.1884 1.2114 1.2248 1.2478 1.2612 1.2842 1.2976
 

USDJPY

The pair pierced through the 112.00 resistance level before bears stepped in to drive the pair back below to the 112.75 support level. As it stands, bears will look to capture 111.75 as a stepping stone to retesting lower while bulls will look to retake 112.00 and push higher toward she 113.00 handle.

  USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.17 110.54 111.23 111.60 112.29 112.66 113.35
WEEKLY 108.02 109.3 110.33 111.62 112.64 113.93 114.95
MONTHLY 107.83 109.70 111.24 113.11 114.65 116.52 118.06
 

GOLD

Bears were the big winners yesterday, managing to break out of the consolidation to the downside, testing 1239 before bulls reentered to drive price to its current level of 1242. As it stands bears are in the driving seat and will look to capture 1240 in hopes of driving the commodity lower while bulls will need to capture 1245 if they wish to convince markets that there is scope for a bullish run.

  GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1227.04 1234.07 1239.54 1246.57 1252.04 1259.07 1264.54
WEEKLY 1210.14 1218.27 1233.24 1241.37 1256.34 1264.47 1279.44
MONTHLY 1147.44 1172.67 1212.64 1237.87 1277.84 1303.07 1343.04