EURUSD

The pair finished a second week with a lower close as bears have taken full control, driving the pair lower by over 300 pips in the two weeks. As its stands, bears will look to keep price below 1.0600 with an eye on 1.0575 as they intend to pressure the pair further while bulls will look to capture 1.0600 in hopes of regaining some composure for a drive higher.

  EURUSD​ ​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0438 1.0526 1.0558 1.0613 1.0645 1.0700 1.0787
WEEKLY 1.0436 1.0507 1.0549 1.0620 1.0662 1.0733 1.0775
MONTHLY 1.0046 1.0269 1.0461 1.0684 1.0876 1.1099 1.1291
 

GBPUSD

The pair finished a second week with a lower close as bears have taken full control, driving the pair lower by over 300 pips in the two weeks. As its stands, bears will look to keep price below 1.0600 with an eye on 1.0575 as they intend to pressure the pair further while bulls will look to capture 1.0600 in hopes of regaining some composure for a drive higher.

  GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2180 1.2293 1.2333 1.2406 1.2446 1.2519 1.2632
WEEKLY 1.2109 1.2235 1.2304 1.2430 1.2499 1.2625 1.2694
MONTHLY 1.1716 1.1911 1.2230 1.2425 1.2744 1.2939 1.3258
 

USDJPY

Bulls managed to keep the pair bid above 110.00 despite several aggressive attempts by bears to break lower. As it stands bulls have managed to retake the 111.00 level and have tested the 111.50 resistance level before we saw bearish pressure renter the market. As it stands, the pair is regarded as bullish if bulls prevent bears form capturing the 111.00 level. If bears do capture the 111.00 level, we would see a lower low in place which may suggest a deeper test towards the 110.00 level.

  USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.43 109.65 110.36 110.87 111.58 112.08 113.30
WEEKLY 108.77 109.44 110.26 110.93 111.75 112.42 113.24
MONTHLY 103.71 106.90 109.14 112.33 114.57 117.76 120.00
 

GOLD

Gold peeked above the 1270 resistance level but was quick to retrace as strong selling pressure saw the day’s bullish move practically erased as price settled around the 1255 level. As it stands, bulls appear in control in the medium term and provided they keep the precious metal above 1250 we are likely to see further upside. A close below the 1250 level will suggest a possible reversal and a new run by the bears.

  GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1252.90 1253.95 1255.35 1256.40 1257.80 1258.85 1260.25
WEEKLY 1216.14 1230.77 1244.04 1258.67 1271.94 1286.57 1299.84
MONTHLY 1148.28 1172.23 1209.76 1233.73 1271.26 1295.23 1332.76