USD/JPY

USD/JPY extended its sideways consolidative price action at the start of a new trading week and remained well within a narrow trading band below mid-106.00s. Global growth concerns continue to underpin JPY’s safe-haven demand, however the improving risk sentiment seemed to help limit the downside for now. A subdued US Dollar price action does little to provide any meaningful impetus. USD/JPY is expected to find support at 106.16 and a fall through could take it to the support level of 105.90. On the other side, resistance stands at 106.59 and a rise through could take it to the level of 106.76.

USDJPY_19_08_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 106.06 106.16 106.29 106.39 106.53 106.62 106.76
1 WEEK 103.37 104.21 105.30 106.14 107.23 108.07 109.16
1 MONTH 105.90 106.56 107.68 108.34 109.47 110.12 111.25


EURUSD

EUR/USD looks for direction below 1.1100 as the offered bias stays unchanged around the shared currency at the beginning of the week. Mood in the global markets is slightly biased towards the risk-on trade so far, as the focus is on trade, FOMC and the Jackson Hole Symposium this week. EUR/USD is expected to find support at 1.1080 and a fall through could take it further to the support level of 1.1064. On the other side, resistance stands at 1.1110 and a rise through could take it to the next resistance level of 1.1133.

EURUSD_19_08_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1072 1.1080 1.1086 1.1094 1.1100 1.1108 1.1114
1 WEEK 1.0862 1.0964 1.1027 1.1129 1.1192 1.1294 1.1357
1 MONTH 1.0663 1.0862 1.0967 1.1166 1.1271 1.1470 1.1576


GBPUSD

GBP/USD has touched a high of 1.2173 on the session as the pound was strong against the dollar since the end of last week. However, later the pair fell on to session lows of 1.2125, before climbing back to 1.2130 region. GBP/USD is expected to find support at 1.2115 and a fall through could take it to the next support level of 1.2100. On the other side, resistance stands at 1.2157, and a rise through could take it to the next resistance level of 1.2173.

GBPUSD_19_08_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2121 1.2132 1.2144 1.2155 1.2168 1.2178 1.2191
1 WEEK 1.1888 1.1951 1.2050 1.2113 1.2212 1.2275 1.2374
1 MONTH 1.1360 1.1740 1.1947 1.2327 1.2534 1.2914 1.3121


GOLD

Gold registers another failure to cross Tuesday’s high, mainly due to trade and political news, as it trades below $1,510 on early Monday. Receding geopolitical tension and growth positive comments from the US President assisted on Gold’s pullback. Any trade and political news can offer intermediate moves ahead of FOMC minutes, Jackson Hole Symposium this week. Gold is expected to find support at 1,500.00 and a fall through could take it to the support level of 1,496.30. On the other side, resistance stands at 1,512.80, and a rise through could take it to the level of 1,517.30.

GOLD_19_08_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1512.54 1515.52 1517.59 1520.57 1522.64 1525.62 1527.69
1 WEEK 1435.76 1462.33 1492.96 1519.53 1550.16 1576.73 1607.36
1 MONTH 1310.29 1347.57 1379.79 1417.07 1449.29 1486.57 1518.79