EURUSD

The pair has squeezed higher as bulls held 1.1150, capturing 1.1175 on their march to 1.1200. For the time being the bears have stepped in to defend the H1 100 EMA and 50% fibo confluence as they show signs of re-entering the market. Whichever side captures 1.1175 will set the tone today with bulls likely to target 1.1200, 1.1225 and 1.1250 and bears to target 1.1150, 1.1125 and 1.1100.


EURUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1095 1.1112 1.1133 1.1150 1.1171 1.1188 1.1209
WEEKLY 1.0980 1.1079 1.1151 1.1250 1.1322 1.1421 1.1493
MONTHLY 1.1037 1.1125 1.1290 1.1378 1.1543 1.1631 1.1796
 

GBPUSD

Cable continues to reach higher with bulls storming through resistance after resistance as the GBP finds its footing. Currently the pair is trading between 1.4700 and 1.4725 in a tight channel as direction is sought. Should bulls capture 1.4725, we would see them target 1.4750, 1.4775 and 1.4800. However, should bears capture 1.4700, we would see them target 1.4675, 1.4650 and 1.4625.


GBPUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4493 1.4547 1.4621 1.4675 1.4749 1.4803 1.4877
WEEKLY 1.4002 1.4166 1.4334 1.4498 1.4666 1.4830 1.4998
MONTHLY 1.3520 1.3762 1.4187 1.4427 1.4854 1.5096 1.5521
 

AUDUSD

The battle for 0.7200 continues with bears doing a good job so far of defending the level despite several bullish skirmishes. As it stand the pair is in a short term downtrend with the hourly RSI in overbought territories as the bears look to close below 0.7200 with hopes of making new weekly lows with targets at 0.7150, 0.7100 and 0.7050. However, should bulls capture 0.7250, we would see this attract more bulls as bears jump ship resulting in the pair being propped up with targets at 0.7275, 0.7300 and 0.7325.


AUDUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7122 0.7148 0.7167 0.7193 0.7212 0.7238 0.7257
WEEKLY 0.6945 0.7059 0.7141 0.7255 0.7337 0.7451 0.7533
MONTHLY 0.7100 0.7294 0.7448 0.7642 0.7796 0.7990 0.8144
 

USDJPY

The pair continues to swing from high to low as a clear direction is sought, the daily 50 EMA continues to act as key resistance, yet again battering the pair lower. The pair is currently retesting resistance and likely to make a run for 110.00 as bulls look to recapture some of their previous momentum. Bears will be aware of the advantage they gained over night and will be hard pressed to let go of 110.00. Upside targets are at 110.25, 110.50 and 110.75 while downside targets are at 109.50, 109.25 and 109.00.


USDJPY
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.27 109.57 109.85 110.15 110.43 110.73 111.01
WEEKLY 106.69 107.56 108.85 109.72 111.01 111.88 113.17
MONTHLY 96.89 101.58 103.21 107.90 109.53 114.22 115.85