USDJPY

USD/JPY drops to fresh lows trading near 108.85 during early Friday as geopolitics and trade woes keep challenging market sentiment. USD/JPY extends the drop below the 109.00 support area in early European trading amid a renewed risk-aversion gripped the markets on the reports that the US President Trump imposed new tariffs on Mexico. USD/JPY is expected to find support at 108.53 and a fall through could take it to the support level of 108.35. On the other side, resistance stands at 109.32, and a rise through could take it to the level of 109.66.

 

USDJPY-31-05-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.53 108.93 109.13 109.53 109.74 110.13 110.34
WEEKLY 107.42 108.35 108.83 109.76 110.24 111.17 111.65
MONTHLY 109.09 109.95 110.69 111.55 112.29 113.15 113.89

EURUSD

EUR/USD extends its side trend near 1.1140 region in early trades, unperturbed by the intensifying risk-off moods amid the US-led protectionism and the resulting global growth worries. However, the bulls remain cautious and keep the upside attempts restricted, in the wake of the slide in the German 10-year bond yields to near record lows. EUR/USD is expected to find support at 1.1114 and a fall through could take it further to the support level of 1.1100. On the other side, resistance stands at 1.1149, and a rise through could take it to the next resistance level of 1.1164.

 

EURUSD-31-05-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1090 1.1103 1.1117 1.1130 1.1144 1.1157 1.1170
WEEKLY 1.1030 1.1069 1.1137 1.1176 1.1244 1.1283 1.1351
MONTHLY 1.0896 1.1004 1.1110 1.1218 1.1324 1.1432 1.1538

GBPUSD

GBP/USD remains modestly positive to trade near 1.2610, despite the political uncertainty amid the US Dollar pullback. While trade headlines are all in the limelight, for now, global political developments and second-tier data from the UK and the US could entertain momentum traders during the rest of the day. GBP/USD is expected to find support at 1.2577 and a fall through could take it to the next support level of 1.2550. On the other side, resistance stands at 1.2638, and a rise through could take it to the next resistance level of 1.2659.

 

GBPUSD-31-05-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2519 1.2550 1.2579 1.2610 1.2639 1.2670 1.2699
WEEKLY 1.2399 1.2502 1.2608 1.2711 1.2817 1.2920 1.3026
MONTHLY 1.2536 1.2701 1.2868 1.3033 1.3200 1.3365 1.3532

GOLD

Gold aims the $1,300-mark, risk aversion dominates amid growing political and trade pessimism. Gold prices extend previous run up towards 100-day SMA while trading near $1294 in the European open on Friday. Gold is expected to find support at 1,290.30 and a fall through could take it to the support level of 1,285.60. On the other side, resistance stands at 1,297.00, and a rise through could take it to the level of 1,301.20.

 

GOLD-31-05-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1263.05 1268.50 1279.40 1284.85 1295.75 1301.20 1312.10
WEEKLY 1254.60 1261.80 1272.70 1279.90 1290.80 1298.00 1308.90
MONTHLY 1217.19 1242.62 1263.79 1289.22 1310.39 1335.82 1356.99