USDJPY

USD/JPY weakened farther below the 108.00 handle and dropped to fresh weekly lows, around mid-107.00s during the early session on Wednesday. Sliding US bond yields undermine the USD and further collaborates to the selling bias. USD/JPY is expected to find support at 107.42 and a fall through could take it to the support level of 107.25. On the other side, resistance stands at 107.90, and a rise through could take it to the level of 108.20.

USDJPY-03-07-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 106.86 107.31 107.57 108.02 108.28 108.73 108.98
WEEKLY 105.66 106.22 107.05 107.61 108.44 109.00 109.83
MONTHLY 105.15 105.97 107.17 107.99 109.19 110.01 111.22

 

EURUSD

EUR/USD comes under pressure near 1.1270 as the selling pressure is now picking up pace around the European currency. The pair is consolidating in the lower end of the weekly range as market participants continue to adjust to the appointment of former IMF’s Christine Lagarde to succeed Mario Draghi at the European Central Bank. EUR/USD is expected to find support at 1.1255 and a fall through could take it further to the support level of 1.1241. On the other side, resistance stands at 1.1294 and a rise through could take it to the next resistance level of 1.1310.

EURUSD-03-07-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1225 1.1250 1.1270 1.1295 1.1315 1.1340 1.1360
WEEKLY 1.1268 1.1306 1.1338 1.1376 1.1408 1.1446 1.1478
MONTHLY 1.0951 1.1053 1.1207 1.1310 1.1464 1.1567 1.1721

 

GBPUSD

GBP/USD was dragged down during the initial week amid, sluggish data and dovish comments from the BOE Governor. Trade and political headlines, British Services PMI and second-tier data from the US act as the key catalysts to follow, today. GBP/USD is expected to find support at 1.2545 and a fall through could take it to the next support level of 1.2530. On the other side, resistance stands at 1.2598, and a rise through could take it to the next resistance level of 1.2633.

GBPUSD-03-07-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2510 1.2547 1.2572 1.2609 1.2633 1.2671
WEEKLY 1.2520 1.2591 1.2643 1.2714 1.2766 1.2837 1.2889
MONTHLY 1.2262 1.2385 1.2539 1.2661 1.2815 1.2937 1.3092

 

GOLD

Gold is currently trading at $1,425 per Oz, having hit a session high of $1,438 earlier today. This is the second time in nine days that the yellow metal has faded the spike to levels near 1,440. Notably, prices had clocked a high of $1,439 on June 25 before closing the day with marginal gains at $1,424. Gold is expected to find support at 1,417.70 and a fall through could take it to the support level of 1,409.00. On the other side, resistance stands at 1,433.40, and a rise through could take it to the level of 1,438.80.

Gold-03-07-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1348.85 1367.80 1401.05 1420.00 1453.25 1472.20 1505.45
WEEKLY 1366.84 1384.47 1398.04 1415.67 1429.24 1446.87 1460.44
MONTHLY 1191.06 1250.68 1322.91 1382.53 1454.76 1514.38 1586.61