USD/JPY

USD/JPY edged lower on Thursday and gave up a part of its overnight goodish bounce from fresh multi-month lows, albeit has managed to hold its neck above the 106.00 handle. Escalating US-China trade tensions continue to benefit the JPY’s safe-haven status. USD/JPY is expected to find support at 105.84 and a fall through could take it to the support level of 105.53. On the other side, resistance stands at 106.74 and a rise through could take it to the level of 107.00.

USDJPY_08_08_19.png

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 104.75 105.13 105.62 106.00 106.50 106.87 107.37
1 WEEK 102.78 104.64 105.61 107.47 108.44 110.30 111.27
1 MONTH 105.90 106.56 107.68 108.34 109.47 110.12 111.25


EURUSD

EUR/USD navigating within a consolidative mode around the 1.1200 area for the time being amidst the generalized drop in global yields. After climbing to the 1.1250 region earlier in the week, the pair receded to the 1.1200 neighbourhood where it is now looking to consolidate somehow amidst the absence of relevant catalysts other than the US-China protracted trade dispute. EUR/USD is expected to find support at 1.1177 and a fall through could take it further to the support level of 1.1152. On the other side, resistance stands at 1.1210 and a rise through could take it to the next resistance level of 1.1254.

EURUSD_08_08_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1111 1.1145 1.1174 1.1208 1.1237 1.1271 1.1299
1 WEEK 1.0899 1.0963 1.1036 1.1100 1.1173 1.1237 1.1310
1 MONTH 1.0663 1.0862 1.0967 1.1166 1.1271 1.1470 1.1576


GBPUSD

GBP/USD remains firm while portraying higher low formation as summer recess in the UK parliament tame no-deal Brexit noises. Boris Johnson and the company prepares for no-deal Brexit while few lawmakers plot to oust the PM. GBP/USD is expected to find support at 1.2145 and a fall through could take it to the next support level of 1.2121. On the other side, resistance stands at 1.2200, and a rise through could take it to the next resistance level of 1.2224.

GBPUSD_08_08_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2041 1.2081 1.2111 1.2151 1.2181 1.2221 1.2251
1 WEEK 1.1717 1.1898 1.2027 1.2208 1.2337 1.2518 1.2647
1 MONTH 1.1360 1.1740 1.1947 1.2327 1.2534 1.2914 1.3121


GOLD

Gold lacked any firm directional bias on Thursday and seesawed between tepid gains/minor losses, consolidating the recent upsurge to fresh multi-year tops. Against the backdrop of the recent escalation in the US-China trade tensions, growing pessimism over the global economic growth outlook provided a strong boost to traditional safe-haven assets. Gold is expected to find support at 1,484.70 and a fall through could take it to the support level of 1,472.50. On the other side, resistance stands at 1,510.10, and a rise through could take it to the level of 1,520.80.

GOLD_08_08_19

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1457.85 1472.50 1493.05 1507.70 1528.25 1542.90 1563.45
1 WEEK 1375.96 1394.03 1425.76 1443.83 1475.56 1493.63 1525.36
1 MONTH 1310.29 1347.57 1379.79 1417.07 1449.29 1486.57 1518.79