EUR/USD

The EURUSD is oscillating around its H4 50 and 100 EMA as it looks for further direction. Yesterday saw bull’s breeze through their first target of 1.1000, but were stopped short of their second target just below 1.1050 as bears stepped in to defend the 61.8% fibo level which they manage to hold for the third time. Currently the pair is trading around its 1.0968 support zone with downside targets at 1.0940, 1.0900 and 1.0850. Resistance is at 1.1000, 1.1050 and 1.1100. Worth noting is that the ECB meeting is today and extreme volatility is expected which could see large swings in prices as multiple support or resistance lines broken in a very short time.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0848 1.0896 1.0941 1.0989 1.1034 1.1082 1.1127
WEEKLY 1.0647 1.0735 1.0869 1.0957 1.1091 1.1179 1.1313
MONTHLY 1.0100 1.0456 1.0665 1.1021 1.1230 1.1586 1.1795
 

GBP/USD

The pair has not seen much movement and yesterday’s analysis stands, albeit one step closer to a break out to either the upside or the down side as price winds up before it springs into action. The confluence of support in the form of the 1.4150 round number and the convergence of the H4 50 and 100 EMA, makes for significant support for the bears to overcome, if they manage to close below, we will see them target 1.4100, 1.4050 and 1.4000 as they look to wipe out some of last week’s gains made by the pair. Bulls will be looking to recapture 1.4200, 1.4240 and 1.4285 as they hope to close the week in the green for a second time after the more than 800 pip loss experienced in recent weeks.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4102 1.4138 1.4172 1.4208 1.4242 1.4278 1.4312
WEEKLY 1.3541 1.3687 1.3957 1.4103 1.4373 1.4519 1.4789
MONTHLY 1.2773 1.3303 1.3609 1.4139 1.4445 1.4375 1.5281
 

USD/CAD

The USDCAD gave us the trade of the day yesterday from a technical perspective as bears spring boarded from the H4 50 EMA to breeze through all its downside targets before finally stabilizing at new mufti-week lows. Current support lies at 1.3250, 1.3200 and 1.3150 which coincides with the Weekly 50 EMA and together with the H4 stochastic crossing up will see bulls defend this level with all their might. Current resistance lies at 1.3300, 1.3350 and 1.3400.

USD/CAD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2944 1.3084 1.3167 1.3307 1.3390 1.3530 1.3613
WEEKLY 1.2939 1.3124 1.3219 1.3404 1.3499 1.3684 1.3779
MONTHLY 1.2687 1.3083 1.3311 1.3707 1.3935 1.4331 1.4559
 

GOLD

Gold is firmly below the H4 50 EMA and will likely head to the 100 EMA after having broken the inner and medium uptrends. Support comes in the form of 1245, 1240 and 1235. Resistance is at 1250, 1260 and 1265.

GOLD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1230.86 1237.83 1246.06 1253.03 1261.26 1268.23 1276.46
WEEKLY 1171.06 1134.83 1232.36 1256.13 1293.66 1317.43 1354.96
MONTHLY 1000.36 1057.83 1145.86 1203.33 1291.36 1348.83 1436.86