EURUSD

The pair is currently testing the 1.0600 resistance level as we see bulls test the top of the wedge being formed. A close above will expose more upside with targets at 1.0625, 1.0650 and 1.0675 while if bears can hold the level and capture 1.0625, we would see a continuation of the medium-term trend to the downside with targets at 1.0600, 1.0575 and 1.0550.

  EURUSD​ ​

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0530 1.0565 1.0604 1.0639 1.0678 1.0713 1.0752
WEEKLY 1.0450 1.0509 1.0561 1.0620 1.0672 1.0731 1.0783
MONTHLY 1.0046 1.0269 1.0461 1.0684 1.0876 1.1099 1.1291
 

GBPUSD

Bulls continued on the front foot this week after making a base on Friday and we are currently seeing the bulls test the 1.2600 resistance level which if broken will expose 1.2625, 1.2650 and 1.2675 while if bears manage to hold off bulls and close below the 1.2575 level, we will likely see a further test lower with targets at 1.2550, 1.2525 and 1.2500.

  GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2448 1.2485 1.2525 1.2562 1.2602 1.2639 1.2679
WEEKLY 1.2184 1.2273 1.2398 1.2487 1.2612 1.2701 1.2826
MONTHLY 1.1716 1.1911 1.2230 1.2425 1.2744 1.2939 1.3258
 

USDJPY

Bulls managed an impressive feat of turning the tide yesterday as we saw solid defense of the 108.10 support level before they drove the pair 100 pips higher to now trade at the all-important 109.00 resistance level. Bulls will look to close firmly above 109.00 in hopes of capturing 109.25, 109.50 and 109.75 while bears will look to control 109.00 as a gateway to testing yesterday’s lows.

  USDJPY

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.37 107.74 108.32 108.69 109.27 109.64 110.22
WEEKLY 104.50 106.51 107.58 109.59 110.66 112.67 113.74
MONTHLY 103.71 106.90 109.14 112.33 114.57 117.76 120.00
 

GOLD

Gold peeked just above the 1295 resistance level before bears reentered the market to drive the precious metal back to the 1280 support level. 1280 will either form the base for another bullish run north as bulls accumulate above 1285 to try and capture the all-important 1300 handle. However, if bear manage to capture 1280, we will likely see a deeper retrace as the 1265 support level is exposed.

  GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1269.90 1276.50 1284.20 1290.80 1298.50 1305.10 1312.80
WEEKLY 1218.40 1233.30 1260.90 1275.80 1303.40 1318.30 1345.90
MONTHLY 1148.28 1172.23 1209.76 1233.73 1271.26 1295.23 1332.76