EUR/USD

The pair has popped above the top of the downward channel, retesting 1.11600 and heading back south as bears look to retest the recent lows before relinquishing any more ground. We expect strong support at the back of the channel line broke, where bulls are likely to make a stand as they look to continue on yesterday’s gains with targets at 1.1150, 1.1175 and 1.1200. However, should bears manage to capture 1.1125, it is likely that they will follow through, triggering 1.1100, 1.1075 and 1.1050.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1085 1.1103 1.1131 1.1149 1.1177 1.1195 1.1223
WEEKLY 1.0951 1.1064 1.1131 1.1244 1.1311 1.1424 1.1491
MONTHLY 1.0766 1.0858 1.1016 1.1108 1.1266 1.1358 1.1516
 

GBPUSD

The pair broke through the top of this week range as bulls took off like a Boeing from the 1.3075 support level to make highs of 1.3150. Currently the pair is ranging between 1.3125 and 1.3150, a close beyond either, will set the tone for the day with support at 1.3100, 1.3075 and 1.3050 while resistance is at 1.3175, 1.3200 and 1.3225.


GBPUSD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.32988 1.3026 1.3082 1.3120 1.3176 1.3214 1.3270
WEEKLY 1.2762 1.2894 1.3017 1.3149 1.3272 1.344 1.3527
MONTHLY 1.2168 1.2482 1.2857 1.3171 1.3546 1.3860 1.4235
 

AUDUSD

The pair found strong support at the 0.7500 handle and 23.6% fibo confluence, forming a double bottom as bulls re-entered the arena. Bull’s sill look to keep price above 0.7525 with an aim of breaching 0.7550 and heading to 0.7575 and 0.7600. Bears will be looking to reclaim 0.7525 as a stepping stone to breaching 0.7500, which would open the way for 0.7475 and 0.7450, levels not seen since July 16.


AUD/USD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7442 0.7465 0.7491 0.7514 0.7540 0.7563 0.7589
WEEKLY 0.7365 0.7456 0.7510 0.7601 0.7655 0.7746 0.7800
MONTHLY 0.7172 0.7288 0.7443 0.7559 0.7714 0.7830 0.7985
 

GOLD

Bears powered lower to sub 1305 lows but could do little more as bulls stepped in to do a little bargain hunting, snapping up the precious metal and driving price back above 1310. Price has since dipped between the 1305-10 range and, break of either line, will be a deciding factor on the near term price of the precious metal. Should bulls capture 1310, we would see them target 1315, 1320 and 1325. However, should bears capture 1305, we would see a move towards 1300, 1295 and 1290.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1296.84 1301.57 1304.24 1308.97 1311.54 1316.37 1319.04
WEEKLY 1287.74 1302.37 1311.94 1326.57 1336.14 1350.77 1360.34
MONTHLY 1254.14 1283.47 1316.40 1345.57 1378.34 1407.67 1440.44