EUR/USD

Bulls retook control late on Friday to drive the pair higher with momentum carrying over to this week’s open as we see the pair testing the 1.0750 resistance level. Bulls will look to capture 1.0750 as a stepping stone to 1.0775, which places the bulls ahead of the daily 100 EMA and opens the way for 1.0800, 1.0825 and 1.0850. However, bears will look to control 1.0750, in hopes recapturing some of their recent losses with targets at 1.0725, 1.0700 and 1.0675.

EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0677 1.0686 1.0699 1.0708 1.0721 1.0730 1.0743
WEEKLY 1.0467 1.0522 1.0612 1.0667 1.0757 1.0812 1.0902
MONTHLY 0.9760 1.0055 1.0285 1.0580 1.0810 1.1105 1.1335
 

GBPUSD

Support held up as we saw bulls defend the 1.2275 level with vigor before overpowering bears to drive price higher by just under 200 pips. As it stands bulls will look to defend 1.2450 in hopes of capturing 1.2475 in an effort to pop 1.2500. However, should bears recapture 1.2450, we could see a slight retrace of the recent buying with targets at 1.2425, 1.2400 and 1.2375.

GBPUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2356 1.2363 1.2374 1.2381 1.2392 1.2399 1.2410
WEEKLY 1.1661 1.1820 1.2098 1.2257 1.2535 1.2674 1.2972
MONTHLY 1.1519 1.1858 1.2098 1.2437 1.2677 1.3016 1.3256
 

CRUDE OIL (WTI)

Crude managed a pop higher as the commodity now retests the 38.2% fibo level of the move down since Jan 6th. Bulls will look to capture 53.50 in hopes of testing 54, 54.50 and 55, which they will hope to be enough to turn the tide as the levels should attract further buying. However, if bears manage to hold off the buying pressure at 53.50, we will see a sharp retrace to 53, 52.50 and 52 as they try to reignite the downtrend.

wti
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 52.87 53.02 53.17 53.32 53.47 53.62 53.77
WEEKLY 47.73 49.32 50.34 51.93 52.95 54.54 55.56
MONTHLY 44.76 46.87 50.29 52.40 55.82 57.93 61.35

GOLD

Gold managed to make new highs above last week’s peek as we see bulls put in one last attempt at breaking above the Daily 100 EMA at 1220. Should they manage to close above the level, we would see further upside with targets at 1225, 1230 and 1235 while if bears manage to capture 1215, we could see a retrace to 1210, 1205 and 1200.

GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1204.64 1206.82 1211.09 1213.27 1217.54 1219.72 1223.99
WEEKLY 1176.26 1186.03 1195.16 1204.93 1214.06 1223.83 1232.96
MONTHLY 1057.56 1090.73 1120.36 1153.53 1183.16 1216.33 1245.96