USDJPY

USD/JPY built on the weekly bullish gap opening and climbed to over one-week tops during the early session, although lacked any strong follow-through, currently trading at 108.65. A goodish bounce in the US bond yields helped ease the USD bearish pressure, and the improving risk sentiment weighed on Yen’s safe-haven status. USD/JPY is expected to find support at 108.41 and a fall through could take it to the support level of 108.17. On the other side, resistance stands at 108.83, and a rise through could take it to the level of 109.00.

USDJPY-10-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.75 107.98 108.22 108.45 108.69 108.92 109.16
WEEKLY 106.99 107.40 107.80 108.21 108.61 109.02 109.42
MONTHLY 103.74 106.01 107.15 109.42 110.56 112.83 113.97

 

EURUSD

EUR/USD pulled back just below 1.1300 mark from Friday’s 11-week high of 1.1348, but the path of least resistance seems to be on the higher side, according to risk reversals. The pair came under pressure as the US Dollar broadly recovered, possibly due to the decision by the US President to suspend tariff plan on Mexican goods. EUR/USD is expected to find support at 1.1278 and a fall through could take it further to the support level of 1.1249. On the other side, resistance stands at 1.1340, and a rise through could take it to the next resistance level of 1.1352.

EURUSD-10-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1288 1.1300 1.1309 1.1321 1.1330 1.1342 1.1352
WEEKLY 1.1016 1.1086 1.1209 1.1279 1.1402 1.1472 1.1595
MONTHLY 1.0936 1.1022 1.1095 1.1181 1.1254 1.1340 1.1413

 

GBPUSD

GBP/USD remains on a back foot near 1.2705, as the latest risk-on sentiment is helping the US Dollar to recover some of its latest losses. Also, the political uncertainty surrounding the UK did little to help the Pound. GBP/USD is expected to find support at 1.2680 and a fall through could take it to the next support level of 1.2656. On the other side, resistance stands at 1.2737, and a rise through could take it to the next resistance level of 1.2761.

GBPUSD-10-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2659 1.2682 1.2702 1.2725 1.2745 1.2768 1.2788
WEEKLY 1.2487 1.2548 1.2642 1.2703 1.2797 1.2858 1.2952
MONTHLY 1.1782 1.2170 1.2401 1.2789 1.3020 1.3408 1.3639

 

GOLD

Gold prices fell back below $1,330 levels amid higher equities and Treasury yield, dented at the start of trade this week with a positive outcome to the U.S./Mexican talks. Gold is expected to find support at 1,320.00 and a fall through could take it to the support level of 1,312.90. On the other side, resistance stands at 1,335.20, and a rise through could take it to the level of 1,343.30.

Gold-10-06-2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1328.31 1332.88 1335.91 1340.48 1343.51 1348.08 1351.11
WEEKLY 1275.54 1291.27 1316.24 1331.97 1356.94 1372.67 1397.64
MONTHLY 1240.84 1254.07 1279.94 1293.17 1319.04 1332.27 1358.14