EURUSD

The parabolic move north continues as bull’s steam roll through several layers of resistance to now trade above 1.1100. As it stands, per the stochastics, the pair is aggressively over bought with bulls looking to capture 1.1125 as a stepping stone to even higher prices. However, should bears manage to retake 1.1100 and hold the pair below this level, we could see profit taking begin which could drive the pair back toward the 1.1000 support level.

  EURUSD​ ​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0875 1.0923 1.1002 1.1050 1.1129 1.1177 1.1256
WEEKLY 1.0650 1.0744 1.0837 1.0931 1.1024 1.1118 1.1211
MONTHLY 1.0276 1.0422 1.0660 1.0806 1.1044 1.1190 1.1428
 

GBPUSD

The pair continues to consolidate with a bearish head and shoulder taking form. If bears can keep price from making a higher high above 1.2950 and capture the 1.2925 support level, we could have the early signs of a continuation lower with 1.2800 as the main target. However, if bulls capture 1.2950, the H&S would be negated, and we could see further upside as 1.3000 is exposed.

  GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2774 1.2819 1.2868 1.2913 1.2962 1.3007 1.3056
WEEKLY 1.2676 1.2759 1.2825 1.2908 1.2974 1.3057 1.3123
MONTHLY 1.1943 1.2152 1.2552 1.2761 1.3161 1.3370 1.3770
 

USDJPY

The pair has gone for a free fall after bears managed to retake 113.00 and is now on par to test the 112.00 support level and beyond, provided bears can capture the 112.25 support level. However, should bulls manage to hold the selling pressure at the 112.25 level, we could see profit taking, which would turn the near-term tide to bullish as bulls look to capture 112.50 as a stepping stone to retest 113.00.

  USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 111.84 112.37 112.74 113.27 113.64 114.17 114.54
WEEKLY 110.32 111.34 112.34 113.36 114.36 115.38 116.38
MONTHLY 105.51 106.81 109.18 110.48 112.85 114.15 116.52
 

GOLD

Gold continues to march north wards as we see resistance after resistance falter. Currently the commodity is trading between the 1240 and 1245 zone with bulls looking to capture 1245 as a stepping stone to 1250, 1255 and 1260. On the other hand, bears will look to capture 1240 as a stepping stone to retesting the recent lows, including 1235, 1230 and 1225.

  EURUSD​ ​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1222.14 1226.07 1231.24 1235.17 1240.34 1244.27 1249.44
WEEKLY 1193.10 1203.70 1215.70 1226.30 1238.30 1248.90 1260.90
MONTHLY 1191.34 1218.37 1243.34 1270.37 1295.34 1322.37 1347.34