EUR/USD

Bulls have managed to hit all three of their upside targets and are currently taking a breather on some light profit taking after recapturing the post NFP highs. As it stands, bulls are in the driving seat and will look to drive prices higher with targets at 1.1150, 1.1175 and 1.1200 as they retrace more of the post Brexit slide. However, the stochastics are looking heavy and should bears mange to capture 1.1100, they might have cause to come on stronger with targets at 1.1075, 1.1050 and 1.1025.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 1.0968 1.0992 1.1025 1.1049 1.1082 1.1106 1.1139
Weekly 1.0789 1.0897 1.0975 1.1080 1.1161 1.1266 1.1347
Monthly 1.0339 1.0624 1.0864 1.1149 1.1389 1.1674 1.1914
 

GBPUSD

Bulls managed to overcome the treacherous 1.3000 level and have since hit all three of their upside targets as bears are kept at bay. Further upside targets are at 1.3200, 1.3250 and 1.3300. Bear swill look to reverse their fortunes by capturing 1.3100 as more participant enter the overbought environment with an eye on resuming the medium term trend to the south with targets at 1.3050, 1.3000 and 1.2950.


GBPUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 1.2717 1.2784 1.2884 1.2951 1.3041 1.3118 1.3218
Weekly 1.2176 1.2486 1.2721 1.3031 1.3266 1.3576 1.3811
Monthly 1.0706 1.1912 1.2611 1.3817 1.4516 1.5722 1.6421
 

AUDUSD

The pair continues to rally to the north as bulls relentlessly throw bids into the market to the point that they have managed to recapture almost all of the post Brexit losses as they near 0.7650. Further targets to the upside are at 0.7675, 0.7700 and 0.7725. However, we would expect heavy sellers weighting at around 0.7650 as we see divergence move into the market with price making higher highs and the stochastic making lower highs. Support can be found at 0.7600, 0.7575 and 0.7550.


AUDUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 0.7460 0.7491 0.7514 0.7545 0.7568 0.7599 0.7622
Weekly 0.7288 0.7346 0.7457 0.7515 0.7626 0.7684 0.7795
Monthly 0.6767 0.6983 0.7217 0.7433 0.7667 0.7883 0.8117
 

GOLD

Gold has been especially quiet and is looking interesting as it has stalled at the 50% fibo and a pendant is put in place. A close above 1360 would see bulls make a run for recent highs and beyond with interim targets at 1370, 1380 and 1390. However, should bears manage to close below 1350, we could be in store for further downside with targets at 1340, 1330 and 1320.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 1329.56 1341.28 1348.36 1360.08 1367.16 1378.88 1385.96
Weekly 1296.20 1351.60 1336.10 1355.50 1376.00 1395.40 1415.90
Monthly 1080.46 1142.93 1230.66 1293.13 1380.86 1443.33 1531.06