EUR/USD

The pair formed a double top after finding strong resistance at 1.1150 and falling over 125 pips to make lows of 1.1025 before light profit taking saw the pair retest the 1.1075 resistance level. As it stands the short term trend is making a turn towards down and we expect bears to take charge of the day with targets at 1.1050, 1.1025 and 1.1000. However, should bull manage to recapture 1.1075, we would see them target 1.1100, 1.1125 and 1.1150 in a last ditch attempt to maintain their grip.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 1.1031 1.1038 1.1047 1.1054 1.1063 1.1070 1.1079
Weekly 1.0826 1.0920 1.0978 1.1072 1.1130 1.1224 1.1282
Monthly 1.0339 1.0624 1.0864 1.1149 1.1389 1.1674 1.1914
 

GBPUSD

The pair dropped over 350 pips from its high on Friday as we saw strong selling pressure enter the market. Friday saw bears put in a low of 1.3130 before finally settling at 1.3175 at end of day. Today has seen the pair test upper limits of 1.3275 where we noticed heavy selling implying that the bears are not yet done with lower prices. 1.3200 And 1.3250 will form the lower and upper bands which if broken will determine direction of the pair for the day. A break below 1.3200, will see bears target 1.3150, 1.3100 and 1.3050. A break above 1.3250 will see bulls target 1.3300, 1.3350 and 1.3400.


GBPUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 1.3112 1.3151 1.3192 1.3231 1.3272 1.3311 1.3352
Weekly 1.2235 1.2542 1.2867 1.3174 1.3499 1.3380 1.4131
Monthly 1.0706 1.1912 1.2611 1.3817 1.4516 1.5722 1.6421
 

AUDUSD

Bears are currently in control for the short term after putting in lower lows and managing to fend off bullish attacks of 0.7600. As long as they hold 0.7600 bears will look to drive prices lower with targets at 0.7550, 0.7500 and 0.7450. Should bull manage to capture 0.7600, we would see them target 0.7625, 0.7650 and 0.7675.


AUDUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 0.7556 0.7568 0.7579 0.7591 0.7602 0.7614 0.7625
Weekly 0.7351 0.7435 0.7506 0.7590 0.7661 0.7745 0.7816
Monthly 0.6767 0.6983 0.7217 0.7433 0.7667 0.7883 0.8117
 

GOLD

Bears managed to put in a new short term low below 1320 and the precious metal is consolidating at the 1330 mark as further direction is sought. A break below 1325 will see bears back in the driving seat as they target the 1300 level with interim targets at 1320 and 1310. However, should bulls manage to breach the 1335 level, we would see some upside come into the market with targets at 1340, 1345 and 1350.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 1321.64 1325.82 1329.54 1333.72 1337.44 1341.62 1345.34
Weekly 1259.76 1291.23 1308.86 1340.33 1357.96 1389.43 1407.06
Monthly 1080.46 1142.93 1230.66 1293.13 1380.86 1443.33 1531.06