USDJPY

USD/JPY struggled to capitalize on the overnight attempted recovery from three-month lows and remained confined in a narrow trading band, just above mid-109.00s. Improving risk-sentiment undermined JPY’s safe-haven demand and extended some support, but weaker US bond yields and gloomy Chinese macro data kept a lid on any strong follow-through. USD/JPY is expected to find support at 109.34 and a fall through could take it to the support level of 109.00. On the other side, resistance stands at 109.95, and a rise through could take it to the level of 110.20.

 

USDJPY-15-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.68 108.92 109.30 109.54 109.93 110.16 110.55
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 is returning to the boundaries of 1.1200, as the pair loses some upside momentum on German GDP figures that disappointed market expectations. Euro has regained some poise following renewed hopes of a US-China trade deal on Wednesday and have practically ignored below-consensus figures from the Chinese calendar published earlier in the Asian session. EUR/USD is expected to find support at 1.1188 and a fall through could take it further to the support level of 1.1172. On the other side, resistance stands at 1.1216, and a rise through could take it to the next resistance level of 1.1234. 

 

EURUSD-15-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1142 1.1172 1.1187 1.1217 1.1233 1.1262 1.1278
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 is trading around 1.2915 benefiting on Brexit positive news. British lawmakers’ support to continue the cross-party Brexit talks and the UK PM Theresa May’s readiness to present her Brexit proposal fourth time in the parliament for a vote in early June pleased GBP buyers off-late, giving the pair a bid tone. GBP/USD is expected to find support at 1.2875 and a fall through could take it to the next support level of 1.2860. On the other side, resistance stands at 1.2944, and a rise through could take it to the next resistance level of 1.2982.

 

GBPUSD-15-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2816 1.2860 1.2884 1.2927 1.2951 1.2994 1.3018
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 rebounded from the intra-day low of $1,292.70 during early Wednesday, and currently trading at $1,296.00. Traders started preferring riskier assets on comments from the US President and his Chinese counterpart, therefore the improving risk-sentiment undermined Gold’s safe-haven demand. Gold is expected to find support at 1,290.45 and a fall through could take it to the support level of 1,286.30. On the other side, resistance stands at 1,299.10, and a rise through could take it to the level of 1,303.10.

 

Gold-15-05-19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1283.55 1288.95 1293.35 1298.75 1303.15 1308.55 1312.95
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