USDJPY

USD/JPY held on the defensive for the second consecutive session on Thursday, albeit has managed to recover most of its early lost ground to weekly lows, even though a subdued US Dollar price action and weaker US bond yields fail to provide any meaningful impetus. USD/JPY is expected to find support at 111.54, and a fall through could take it to the support level of 111.36. On the other side, resistance stands at 111.92, and a rise through could take it to the level of 112.18.

USDJPY_07_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 111.22 111.41 111.52 111.72 111.83 112.03 112.13
WEEKLY 109.10 109.73 110.82 111.45 112.54 113.17 114.26
MONTHLY 106.80 107.76 109.58 110.54 112.36 113.32 115.14
 

EURUSD

EUR/USD managed to regain a tepid buying interest and advance back to the 1.1300 neighbourhood ahead of the ECB event, after a brief test of the 1.1290/85 band earlier in the week. EUR/USD is expected to find support at 1.1286 and a fall through could take it further to the support level of 1.1268. On the other side, resistance stands at 1.1323, and a rise through could take it to the next resistance level of 1.1342.

EURUSD_07_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1255 1.1272 1.1292 1.1309 1.1330 1.1346 1.1367
WEEKLY 1.1228 1.1276 1.1326 1.1374 1.1424 1.1472 1.1522
MONTHLY 1.0982 1.1107 1.1239 1.1364 1.1496 1.1621 1.1753
 

GBPUSD

GBP/USD pair trades around 1.3165 while into the European session on Thursday. Traders gave less importance to the recent Brexit reports as the US Dollar pullback seems to dominate sentiments ahead of Friday’s employment report. GBP/USD is expected to find support at 1.3110 and a fall through could take it to the next support level of 1.3080. On the other side, resistance stands at 1.3190, and a rise through could take it to the next resistance level of 1.3220.

GBPUSD_07_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3083 1.3104 1.3142 1.3163 1.3201 1.3222 1.3261
WEEKLY 1.2737 1.2889 1.3047 1.3199 1.3357 1.3509 1.3667
MONTHLY 1.2328 1.2550 1.2907 1.3129 1.3486 1.3708 1.4065
 

GOLD

Gold prices were modestly lower in mid-morning trading on Thursday, still hovering around a one-month low, but a risk-off tone in the stocks’ markets could bode well for the safe haven metal. Gold is expected to find support at the level of 1,280.60 and a fall through could take it to 1,276.50 level. On the other side, resistance stands at 1,291.05, and a rise through could take it to the next resistance level of 1,296.80.

Gold_07_03_2019
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1276.81 1280.58 1284.21 1287.98 1291.61 1295.38 1299.01
WEEKLY 1238.44 1264.87 1282.04 1308.47 1325.64 1352.07 1369.24
MONTHLY 1252.16 1278.43 1297.26 1323.53 1342.36 1368.63 1387.46