USDJPY

USDJPY suffered a major flash crash after Apple issued an earnings warning and as liquidity remained low. While some currency pairs recovered, dollar/yen remains on the low ground. The Technical Confluences Indicator shows that the pair has significant support at 106.72 and below this level, we see no cushion at least until 105.60. Looking up, there is some resistance at 107.50 and the second resistance is at 107.90

USDJPY-03-01-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 100.38 102.69 105.06 107.37 109.74 112.05 114.42
WEEKLY 108.30 109.15 109.72 110.57 111.14 111.99 112.56
MONTHLY 103.83 106.69 108.14 111.00 112.45 115.31 116.76

 

EURUSD

EURUSD is trading below 1.1400 lifting from Thursday's early low of 1.1307 thanks to a broad-market decline on renewed risk aversion, but the Euro is heading through the day's action on a notably bullish note, lifting through thin Asian trading. As it’s staying above 1.1342 minor support intraday bias remains neutral first. On the downside, break of 1.1342 will target 1.1270 support first. Break there will revive the bearish case that down trend from 1.2555 is still in progress.

EURUSD-03-01-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1063 1.1186 1.1251 1.1374 1.1439 1.1562 1.1626
WEEKLY 1.1224 1.1283 1.1360 1.1419 1.1496 1.1555 1.1632
MONTHLY 1.1111 1.1189 1.1330 1.1408 1.1549 1.1627 1.1768

 

GBPUSD

After a solid upward move, the British Pound found a strong resistance near 1.2800 against the US Dollar. The GBPUSD pair started a downside move and declined heavily below the 1.2600 support. On the downside, an initial support is at 1.2520, below which the pair may continue to move down towards the 1.2500 and 1.2450 levels.

GBPUSD-03-01-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2042 1.2240 1.2379 1.2577 1.2716 1.2914 1.3052
WEEKLY 1.2506 1.2561 1.2634 1.2689 1.2762 1.2817 1.2890
MONTHLY 1.2179 1.2328 1.2543 1.2692 1.2907 1.3056 1.3271

 

GOLD

Gold took up its usual safe-haven bid on the back of the flash crash in the FX space during illiquid early Asian on Wednesday. Some technical indicators show the precious metal to meet prior highs of 2017 and 2018 levels. The 2018 50% Fibo level at 1262 was a key target which has been breached and so too has 1287 as the 2018 61.8% Fibo. On the flipside, the price is now found down at 1255 level.

Gold-03-01-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1269.84 1275.22 1281.49 1286.87 1293.14 1298.52 1304.79
WEEKLY 1242.40 1251.20 1267.10 1275.90 1291.80 1300.60 1316.50
MONTHLY 1161.34 1181.87 1203.94 1224.47 1246.54 1267.07 1289.14