USD/JPY

USD/JPY pair edged lower through the early session on Wednesday and has now slipped below the 109.00 handle, eroding a part of the overnight strong positive move. The safe-haven JPY further benefited from the prevalent cautious mood. USD/JPY is expected to find support at 108.80 and a fall through could take it to the support level of 108.64. On the other side, resistance stands at 109.17 and a rise through could take it to the level of 109.38.

USDJPY_06_11_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 108.17 108.41 108.77 109.01 109.38 109.61 109.98
1 WEEK 106.21 107.05 107.62 108.46 109.03 109.87 110.44
1 MONTH 103.76 105.15 107.62 107.94 109.40 110.76 112.22
 

EURUSD

EUR/USD remains so far cautious around the 1.1070 region, as the pair appears to have met some decent support in the area of last week’s lows, always amidst a moderate rebound in the demand for the buck. EUR/USD is expected to find support at 1.1058 and a fall through could take it further to the support level of 1.1037. On the other side, resistance stands at 1.1093 and a rise through could take it to the next resistance level of 1.1110.

EURUSD_06_11_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0970 1.1016 1.1046 1.1093 1.1123 1.1170 1.1199
1 WEEK 1.1000 1.1037 1.1102 1.1139 1.1204 1.1241 1.1306
1 MONTH 1.0659 1.0769 1.0961 1.1071 1.1263 1.1373 1.1565
 

GBPUSD

GBP/USD fails to cheer positive political headlines from the UK amid doubts over the US-China trade deal. The pair is trading below 1.29, consolidating its losses. A gaffe by a senior minister has not dented PM Johnson's Conservatives lead in the polls. The BOE is awaited on Thursday. GBP/USD is expected to find support at 1.2857 and a fall through could take it to the next support level of 1.2842. On the other side, resistance stands at 1.2893 and a rise through could take it to the next resistance level of 1.2910.

GBPUSD_06_11_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2796 1.2827 1.2853 1.2885 1.2911 1.2943 1.2969
1 WEEK 1.2666 1.2736 1.2836 1.2906 1.3006 1.3076 1.3176
1 MONTH 1.1601 1.1898 1.2420 1.2717 1.3239 1.3536 1.4058
 

GOLD

edged higher on Wednesday and recovered a part of the overnight sharp fall to three-week lows, albeit seemed struggling to capitalize on the attempted bounce. A combination of negative forces exerted some heavy downward pressure on Tuesday and led to the precious metal's biggest single-day drop since September 25. Gold is expected to find support at 1,478.80 and a fall through could take it to the support level of 1,472.30. On the other side, resistance stands at 1,488.70, and a rise through could take it to the level of 1,492.80.

GOLD_06_11_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1441.10 1460.90 1472.30 1492.10 1503.50 1523.30 1534.70
1 WEEK 1454.10 1468.60 1490.00 1504.50 1525.90 1540.40 1561.80
1 MONTH 1417.14 1441.07 1477.94 1501.87 1538.74 1562.67 1599.54