EUR/USD

The pair is still in a downtrend with the pair testing the 38.2% fibo and key resistance at 1.1030 where bears have set up their defences as we see a bearish diversion form between price and the oscillator. Downside targets are at 1.1000, 1.0975 and 1.0950. However, should bulls manage to capture the red zone, we would expect further upside as they look to negate the bearish sentiment by capturing 1.1060 and onwards to 1.1075 and 1.1100.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0901 1.0940 1.0982 1.1021 1.1063 1.1102 1.1144
WEEKLY 1.0826 1.0920 1.0978 1.1072 1.1130 1.1224 1.1282
MONTHLY 1.0339 1.0624 1.0864 1.1149 1.1389 1.1674 1.1914
 

GBPUSD

1.3250 continues to be the balance line where the two forces are battling it out. Currently bears have managed to defend the level and will be looking to continue the longer term trend down with targets at 1.3200, 1.3150 and 1.3100. However, should bulls manage to capture 1.3250, we would see them try test the 1.3500 resistance point with interim targets at 1.3300, 1.3350 and 1.3400.


GBPUSD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3048 1.3102 1.3168 1.3222 1.3288 1.3342 1.3408
WEEKLY 1.2235 1.2542 1.2867 1.3174 1.3499 1.3806 1.4131
MONTHLY 1.0706 1.1912 1.2611 1.3817 1.4516 1.5722 1.6421
 

AUDUSD

Bears defended 0.7500 with all their might and are being rewarded as bulls retreat and the pair look for further downside with targets at 0.7475, 0.7450 and 0.7425 up ahead. Should bulls manage to recapture 0.7500, we would see them target 0.7525, 0.7550 and 0.7575.


AUDUSD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7396 0.7423 0.7460 0.7487 0.7524 0.7551 0.7588
WEEKLY 0.7351 0.7435 0.7506 0.7590 0.7661 0.7745 0.7816
MONTHLY 0.6767 0.6983 0.7217 0.7433 0.7667 0.7883 0.8117
 

GOLD

Gold broke to the downside of the wedge, testing 1310 before bulls re-entered the game, driving the precious metal back up to around 1335. The short term trend is still bearish and the precious metal is retesting support at 1325. Bears will look to capture this level with an eye on 1320, 1315 and yesterday’s low of 1310. However, bulls might have a bit to say, deepening the correction and making a new high by capturing 1340 would negate the downtrend and gold would enter consolidation as the two forces battle it out.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1302.34 1307.57 1319.04 1324.27 1335.74 1340.97 1352.44
WEEKLY 1259.76 1291.23 1308.86 1340.33 1357.96 1389.43 1407.06
MONTHLY 1080.46 1142.93 1230.66 1293.13 1380.86 1443.33 1531.06