EUR/USD

Bulls could not capture the 1.0775 resistance level after two solid attempts and we saw them relinquish ground to the stubborn bears. As it stands the pair is back in the 1.0700 and 1.0725 range. Bulls will look to capture 1.0725 in hopes of one more run at making higher highs while bears will look to capture 1.0700 as confirmation of further downside.

EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0614 1.0660 1.0688 1.0734 1.0762 1.0808 1.0836
WEEKLY 1.0450 1.0509 1.0561 1.0620 1.0672 1.0731 1.0783
MONTHLY 1.0046 1.0269 1.0461 1.0684 1.0876 1.1099 1.1291
 

GBPUSD

The pair continues to consolidate without any clear direction being signaled. Currently the pair is tightening in a wedge and both sides will be looking to break out in their respective directions. Bulls will look to capture 1.2825 in hopes of testing 1.2900 while bears will look to capture 1.2800 in hopes of a deeper correction, perhaps exposing 1.2700 and beyond.

GBPUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2690 1.2730 1.2771 1.2811 1.2852 1.2892 1.2933
WEEKLY 1.2184 1.2273 1.2398 1.2487 1.2612 1.2701 1.2826
MONTHLY 1.1716 1.1911 1.2230 1.2425 1.2744 1.2939 1.3258
 

USDJPY

Bulls managed to squeeze higher as they gradually took 109.25 and stopped just shy of 109.50 before bears stepped in again. As it stands, bulls will look to maintain their grip on 109.25 as a stepping stone to the 110.00 resistance level. Bears on the other hand, will look to capture 109.25 as a stepping stone to 109.00, 108.75 and 108.50.

wti
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.05 108.37 108.85 109.17 109.65 109.97 110.45
WEEKLY 104.50 106.51 107.58 109.59 110.66 112.67 113.74
MONTHLY 103.71 106.90 109.14 112.33 114.57 117.76 120.00
 

GOLD

Gold continues to range as we see the wedge tightening as tensions between bulls and bears tighten. Both sides will be looking for a break in their respective directions with bears looking to capture 1275 as a stepping stone to the 1250 support level while bulls will look to retake 1280 as a stepping stone to the 1300 handle.

GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1272.26 1275.13 1279.46 1282.33 1286.66 1289.53 1293.86
WEEKLY 1218.40 1233.30 1260.90 1275.80 1303.40 1318.30 1345.90
MONTHLY 1148.28 1172.23 1209.76 1233.73 1271.26 1295.23 1332.76