EURUSD

Bears kept control of the 1.0800 resistance level and are currently heading south to the medium term upward-sloping trendline. As it stands, bears will look to capture 1.0750 in hopes of testing the trendline and beyond. Bulls, on the other hand, will look to retake 1.0775 in a bid to attract more buyers and storm the 1.0800 resistance level.

  EURUSD​ ​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0728 1.0748 1.7065 1.0785 1.0802 1.0822 1.0839
WEEKLY 1.0341 1.0524 1.0631 1.0707 1.0814 1.0890 1.1073
MONTHLY 1.0098 1.0295 1.0436 1.0633 1.7740 1.0971 1.1112
 

GBPUSD

Bulls continued to push higher yesterday, making new medium term highs at 1.2530 before bears resurfaced this morning to drive the pair lower. Currently the upward sloping trend line is being tested and bears will be eager to close below 1.2475 in hope of attracting more sellers and triggering bull stops. On the other hand, bulls will look to defend this support level with an eye on closing above 1.2500 as a stepping stone to higher targets.

  GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2408 1.2436 1.2476 1.2504 1.2544 1.2572 1.2612
WEEKLY 1.1711 1.2007 1.2201 1.2303 1.2497 1.2599 1.2896
MONTHLY 1.1884 1.2114 1.2248 1.2478 1.2612 1.2842 1.2976
 

USDJPY

Bulls managed to lift the pair off its 2017 lows and are currently testing the 111.50 resistance level which is fortified by the downward sloping trendline and overbought conditions. Should bulls mange to close above the 111.50 level, we will likely see the pair move higher as stops are triggered and more bulls enter then game. Bears will look to defend 111.50 in hopes of capturing 111.25 and triggering a continuation of the trend lower.

  USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.61 110.12 110.56 111.07 111.51 112.02 112.46
WEEKLY 108.21 110.84 111.76 113.48 114.40 116.12 118.75
MONTHLY 107.83 109.70 111.24 113.11 114.65 116.52 118.06
 

GOLD

Bulls managed to peek above 1250 but only briefly before strong selling pressure drove the precious metal below 1245 and beyond as bears look to revers the trend to the downside. As it stands bears will be hunting 1240 as a stepping stone to 1235, 1230 and 1225 while bulls will look to capture 1245 for another test on 1250, 1255 and 1260.

  GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1230.40 1236.45 1241.05 1247.10 1251.70 1257.75 1262.35
WEEKLY 1172.66 1184.73 1207.26 1219.33 1241.86 1253.93 1276.46
MONTHLY 1147.44 1172.67 1212.64 1237.87 1277.84 1303.07 1343.04