USD/JPY

USD/JPY showed some resilience below the 107.00 handle and quickly recovered around 30 pips from 1-1/2 week lows, set earlier on Thursday. Concerns about global growth continue to benefit the JPY’s relative safe-haven status, while sliding US bond yields and Fed rate cut expectations kept the USD bulls on the defensive. USD/JPY is expected to find support at 107.02 and a fall through could take it to the support level of 106.94. On the other side, resistance stands at 107.36 and a rise through could take it to the level of 107.62.

USDJPY_03_10_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 106.01 106.53 106.85 107.37 107.68 108.21 108.52
1 WEEK 105.99 106.48 107.21 107.70 108.43 108.92 109.65
1 MONTH 103.64 104.69 106.39 107.44 109.14 110.19 111.89
 

EURUSD

EUR/USD is trading in the red at 1.0950 in the European open, having faced rejection near 1.0967 in the early trading hours. The currency pair picked up a bid at lows below 1.09 Monday after weak US manufacturing data bolstered the US recession fears and extended the recovery to levels above 1.0950 on Thursday, courtesy of a weaker-than-expected US ADP Employment data. EUR/USD is expected to find support at 1.0928 and a fall through could take it further to the support level of 1.0914. On the other side, resistance stands at 1.0966 and a rise through could take it to the next resistance level of 1.0982.

EURUSD_03_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0863 1.0884 1.0923 1.0943 1.0982 1.1002 1.1041
1 WEEK 1.0764 1.0834 1.0886 1.0956 1.1008 1.1078 1.1130
1 MONTH 1.0593 1.0739 1.0819 1.0965 1.1045 1.1191 1.1271
 

GBPUSD

GBP/USD is trading below 1.23, marginally down. PM Johnson's new Brexit plan has not been rejected outright by the EU as talks continue. While talks of support to the UK PM’s Brexit proposal by the DUP and the Labour rebels play positive roles to the Cable’s momentum, the European Union’s lack of response and Irish criticism of the deal seems to cap the pair’s upside. GBP/USD is expected to find support at 1.2244 and a fall through could take it to the next support level of 1.2221. On the other side, resistance stands at 1.2320, and a rise through could take it to the next resistance level of 1.2346.

GBPUSD_03_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2150 1.2189 1.2246 1.2285 1.2342 1.2381 1.2438
1 WEEK 1.1972 1.2121 1.2205 1.2354 1.2438 1.2587 1.2671
1 MONTH 1.1348 1.1654 1.1972 1.2278 1.2596 1.2902 1.3220
 

GOLD

Gold build on Thursday recovery gains and rose above the critical $1,500 mark before going into a consolidation phase a little below that level. The latest recovery has multiple resistances on the upside before restoring investor confidence. Gold is expected to find support at 1,490.30 and a fall through could take it to the support level of 1,484.50. On the other side, resistance stands at 1,506.90, and a rise through could take it to the level of 1,512.80.

GOLD_03_10_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1456.85 1468.65 1487.30 1499.20 1517.85 1529.75 1548.40
1 WEEK 1435.36 1464.33 1485.36 1514.33 1535.36 1564.33 1585.36
1 MONTH 1344.50 1407.50 1440.20 1503.20 1535.90 1598.90 1631.60