USD/JPY

USD/JPY has lost some ground as the yen takes up another bid while geopolitics keep the yen bulls in business ahead of a key week on the US calendar. The pair is under bearish pressure at multi-month lows, and despite bulls attempting a rebound, there is a lot of resistance to be overcome. USD/JPY is expected to find support at 105.22 and a fall through could take it to the support level of 105.09. On the other side, resistance stands at 105.84 and a rise through could take it to the level of 106.13.

USDJPY_12_08_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 104.87 105.09 105.25 105.47 105.62 105.85 106.00
1 WEEK 103.13 104.20 104.94 106.01 106.75 107.82 108.56
1 MONTH 105.90 106.56 107.68 108.34 109.47 110.12 111.25


EUR/USD

EUR/USD has kicked off the week around 1.1200, however in the European open has dropped to the 1.1175 level as markets are still sending a bit of mixed signals with equities and bonds holding firmer to start the day. A move below the near-term trendline support at 1.1184 will allow sellers to gather more momentum to the downside but price needs to break the 200-hour MA at 1.1160 in order to see a real run lower. EUR/USD is expected to find support at 1.1160 and a fall through could take it further to the support level of 1.1127. On the other side, resistance stands at 1.1211 and a rise through could take it to the next resistance level of 1.1234.

EURUSD_12_08_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1183 1.1189 1.1198 1.1203 1.1212 1.1217 1.1226
1 WEEK 1.0971 1.1037 1.1119 1.1185 1.1267 1.1333 1.1415
1 MONTH 1.0663 1.0862 1.0967 1.1166 1.1271 1.1470 1.1576


GBP/USD

GBP/USD fails to extend the previous downpour beneath 1.2000 psychological mark while trading near 1.2060 in the London open on Monday. The Pound plummeted on Friday after the GDP spread disappointment among counter-trend traders while Brexit headlines keep being negative. Adding to the weakness were not so positive outcomes of Industrial Production and Manufacturing Production. GBP/USD is expected to find support at 1.2029 and a fall through could take it to the next support level of 1.2113. On the other side, resistance stands at 1.2085, and a rise through could take it to the next resistance level of 1.2118.

GBPUSD_12_08_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1940 1.1978 1.1999 1.2037 1.2058 1.2096 1.2118
1 WEEK 1.1785 1.1905 1.1971 1.2091 1.2157 1.2277 1.2343
1 MONTH 1.1360 1.1740 1.1947 1.2327 1.2534 1.2914 1.3121


GOLD

Gold takes the rounds to $1490 during early Monday in Europe. A lack of fresh trade and political headlines keep gold prices in check. Gold is expected to find support at 1,480.90 and a fall through could take it to the support level of 1,475.50. On the other side, resistance stands at 1,500.00, and a rise through could take it to the level of 1,508.50.

GOLD_12_08_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1501.89 1504.22 1508.19 1510.52 1514.49 1516.82 1520.79
1 WEEK 1390.06 1419.43 1463.96 1493.33 1537.86 1567.23 1611.76
1 MONTH 1310.29 1347.57 1379.79 1417.07 1449.29 1486.57 1518.79