EURUSD

Bulls managed to finish the week off in style as they lifted the pair from its lows to post gains of over 100 pips on Friday. As it stands the pair is testing strong resistance at 1.0600 with stochastics indicating overbought levels. Bulls will look to capture 1.0625 as a trigger point to further upside with targets at 1.0650, 1.0675 and 1.0700. However, if bears manage to capture 1.0600, we could see a test of recent lows with potential targets at 1.0575, 1.0550 and 1.0525.

  EURUSD​ ​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0358 1.0472 1.0547 1.0586 1.0661 1.0700 1.0814
WEEKLY 1.0311 1.0447 1.0535 1.0583 1.0671 1.0719 1.0855
MONTHLY 1.0098 1.0295 1.0436 1.0633 1.7740 1.0971 1.1112
 

GBPUSD

The pair managed a sneaky test of 1.2300 after bulls overcame initial selling pressure to make a u-turn just above 1.2200 as bears took some profits. As it stands the pair is nearing the downward sloping trend line at overbought levels and bears will look to try and reignite a move lower with targets at 1.2250, 1.2225 and 1.2200. However, if bulls manage to capture 1.2300, we will likely see further upside as more shorts are unwound and bulls take control with potential targets at 1.2325, 1.2350 and 1.2375.

  GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2097 1.2184 1.2240 1.2270 1.2326 1.2357 1.2443
WEEKLY 1.1801 1.2065 1.2180 1.2330 1.2445 1.2594 1.2858
MONTHLY 1.1884 1.2114 1.2248 1.2478 1.2612 1.2842 1.2976
 

USDJPY

The pair could not overcome the selling pressure at the 114.50 resistance level and has since relinquished some ground to desperate bears who will look to drive the pair lower. Bears will look to capture 113.50 in hopes of testing 113.25, 113.00 and 112.75. While bulls will look to capture 114.00 as a stepping stone to breaking last weeks` highs with targets at 114.25, 114.50 and 114.75.

  USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 112.31 113.25 113.64 114.20 114.58 115.14 116.08
WEEKLY 107.36 110.42 112.22 113.49 115.29 116.55 119.62
MONTHLY 107.83 109.70 111.24 113.11 114.65 116.52 118.06
 

GOLD

Gold found support at 1220 as bulls reentered the market to try and regain some of their recent losses, we saw the precious metal retreat to above 1235 as the week drew to a close. Currently the precious metal has found resistance at the downward sloping trend line as bears look to retest the recent lows. A break below 1230 would expose further weakness while a close above 1235 will see bulls back at it as they look to retest 1250.

  GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1229.40 1230.75 1232.20 1233.95 1235.40 1237.15 1238.60
WEEKLY 1171.04 1196.97 1211.24 1237.17 1251.44 1277.37 1291.64
MONTHLY 1147.44 1172.67 1212.64 1237.87 1277.84 1303.07 1343.04