USDJPY

USD/JPY made a rebound during the early session on Tuesday and recovered a major part of the overnight slump to over three-month lows, amid Trump’s positive trade-related comments. USD/JPY is expected to find support at 109.43 and a fall through could take it to the support level of 109.12. On the other side, resistance stands at 109.98, and a rise through could take it to the level of 110.25.

 

USDJPY-14-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.08 108.55 108.85 109.33 109.63 110.11 110.41
WEEKLY 107.77 108.62 109.28 110.13 110.79 111.64 112.30
MONTHLY 109.09 109.95 110.69 111.55 112.29 113.15 113.89

 

EURUSD

EUR/USD started the session on a positive note and is currently close to the daily highs in the 1.1230/40 band. The pair managed to reverse some of Monday’s negative performance and retake the 1.1230 zone on the back of somewhat alleviated concerns over the US-China trade war. EUR/USD is expected to find support at 1.1215 and a fall through could take it further to the support level of 1.1200. On the other side, resistance stands at 1.1257, and a rise through could take it to the next resistance level of 1.1273. 

 

EURUSD-14-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1171 1.1195 1.1214 1.1239 1.1258 1.1283 1.1302
WEEKLY 1.1084 1.1122 1.1179 1.1217 1.1274 1.1312 1.1369
MONTHLY 1.0896 1.1004 1.1110 1.1218 1.1324 1.1432 1.1538

 

GBPUSD

GBP/USD failed to capitalize on the broad-based USD weakness and pushed lower as the Dollar started to recover its early losses. The pair extended the fall as May reportedly rejects a Customs Union, dropping below 1.2930. GBP/USD is expected to find support at 1.2902 and a fall through could take it to the next support level of 1.2885. On the other side, resistance stands at 1.2970, and a rise through could take it to the next resistance level of 1.3003.

 

GBPUSD-14-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2826 1.2884 1.2925 1.2983 1.3023 1.3082 1.3122
WEEKLY 1.2718 1.2843 1.2922 1.3047 1.3126 1.3251 1.3330
MONTHLY 1.2536 1.2701 1.2868 1.3033 1.3200 1.3365 1.3532

 

GOLD

Gold prices yesterday after an initial dip to $1,282 area, witnessed an intraday turnaround and caught some aggressive bids, reaching up to $1,303, in reaction to China's announcement to impose retaliatory tariffs on $60 billion worth of US goods. Prices today dipped below the psychologically important $1,300 level despite escalating trade tensions between the U.S and China. Gold is expected to find support at 1,293.80 and a fall through could take it to the support level of 1,289.9. On the other side, resistance stands at 1,303.10, and a rise through could take it to the level of 1,306.80.

 

Gold-14-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1269.05 1275.75 1289.15 1295.85 1309.25 1315.95 1329.35
WEEKLY 1264.39 1271.27 1278.99 1285.87 1293.59 1300.47 1308.19
MONTHLY 1217.19 1242.62 1263.79 1289.22 1310.39 1335.82 1356.99