EUR/USD

The pair finished flat at around 1.1100 yesterday after making highs of 1.1150 and lows of 1.1025. Currently the pair is in consolidation on the one hour pair as we see a potential bearish head and shoulder taking shape. If bears manage to capture 1.1025 we would see them re-ignite the medium term down trend as we see the pair extend its losses form last week. However, should bulls manage to recapture 1.1150, they would negate the head and should pattern, implying that a move higher is on the cards as the correction deepens.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0903 1.0964 1.1033 1.1094 1.1163 1.224 1.1293
WEEKLY 1.0347 1.0628 1.0872 1.1153 1.1397 1.1678 1.1922
MONTHLY 1.0426 1.0761 1.0947 1.1282 1.1468 1.1803 1.1989
 

GBPUSD

The pair broke below the H1 uptrend, dropping more than 200 pips before finding support at 1.3200 and being driven back up to 1.3350. Currently the momentum is bearish and should bears capture 1.3250, we will see them target 1.3200, 1.3100 and 1.3050 as they continue to make new multi decade lows. However, should bull recapture 1.3350, we would see them try beat yesterday’s highs of 1.3500 with interim targets at 1.3400 and 1.3450.


GBPUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2905 1.3056 1.3194 1.3345 1.3483 1.3634 1.3772
WEEKLY 1.1134 1.2179 1.2930 1.3975 1.4726 1.5571 1.6522
MONTHLY 1.3842 1.4086 1.4282 1.4526 1.4722 1.4966 1.5162
 

USDJPY

The pair rallied for most of yesterday’s session, closing at its highs for the day of 103.40 before profit taking and bargain selling saw the pair head back south. Key support remains at 102.50, which bears will look to capture as they attempt a retest of recent lows with interim targets at 102.25, 102.00 and 101.75. However, should bulls manage to recapture 103.00, we would see a deepening of the correction with targets at 103.50, 103.75 and 104.00.


USDJPY
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 101.48 101.92 102.51 102.95 103.54 103.98 104.57
WEEKLY 90.82 94.95 98.59 102.72 106.36 110.49 114.13
MONTHLY 101.06 103.29 107.00 109.23 112.94 115.17 118.88
 

AUDUSD

The AUDUSD has found stability at the 07450 level as further direction is sought. The short term trend is bearish and bears will look to take advantage of overbought conditions to make a move lower with a close below 0.7424 likely to see further selling with targets at 0.7400, 0.7350 and 0.7300. However, should bulls mange to capture 0.7475, we would see the recent retracement deepen as they target 0.7500, 0.7525 and 0.7550.


AUDUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7292 0.7332 0.7389 0.7429 0.7486 0.7526 0.7583
WEEKLY 0.6942 0.7122 0.7293 0.7473 0.7644 0.7824 0.7995
MONTHLY 0.6763 0.6981 0.7214 0.7432 0.7665 0.7883 0.8116