USD/JPY

USD/JPY dropped to 107.86 - the lowest level since January 10 - ignoring the US 10-year Treasury yield's recovery. Looking forward, the currency pair may witness a minor corrective bounce if the yields continue to recover ground and the futures on the S&P 500 turn positive. USD/JPY is expected to find support at 107.74 and a fall through could take it to the support level of 107.56. On the other side, resistance stands at 108.22, and a rise through could take it to the level of 108.43.

 

USDJPY-04-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.23 107.56 107.79 108.12 108.35 108.68 108.92
WEEKLY 106.06 107.17 107.72 108.83 109.38 110.49 111.04
MONTHLY 103.74 106.01 107.15 109.42 110.56 112.83 113.97

EURUSD

EUR/USD could now test the resistance line at 1.1293, as the upside momentum is gathering further traction. The pair is extending the recovery to the boundaries of 1.1270 on the back of the persistent selling pressure around the Dollar. EUR/USD is expected to find support at 1.1239 and a fall through could take it further to the support level of 1.1223. On the other side, resistance stands at 1.1293, and a rise through could take it to the next resistance level of 1.1314.

 

EURUSD-04-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1078 1.1118 1.1182 1.1223 1.1287 1.1328 1.1391
WEEKLY 1.1016 1.1066 1.1117 1.1167 1.1218 1.1268 1.1319
MONTHLY 1.0936 1.1022 1.1095 1.1181 1.1254 1.1340 1.1413

GBPUSD

GBP/USD awaits fresh clues to stretch recent advances as it clings to 1.2670 in the London open on Tuesday. Adding to the USD weakness could be speculations that sluggish data will push the Federal Reserve to refrain from its monetary policy tightening and rather announce the Fed rate cut during the present year. GBP/USD is expected to find support at 1.2651 and a fall through could take it to the next support level of 1.2526. On the other side, resistance stands at 1.2700, and a rise through could take it to the next resistance level of 1.2718.

 

GBPUSD-04-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2559 1.2585 1.2625 1.2651 1.2691 1.2717 1.2757
WEEKLY 1.2344 1.2451 1.2542 1.2649 1.2740 1.2847 1.2938
MONTHLY 1.1782 1.2170 1.2401 1.2789 1.3020 1.3408 1.3639

GOLD

Gold are on the bids near $1327 during the early European session on Tuesday. The yellow metal trades close to the March high as sluggish data-points from the US and comments from one of the Fed policymakers raised prospectus of the rate cut by the US Federal Reserve. Gold is expected to find support at 1,321.00 and a fall through could take it to the support level of 1,315.10. On the other side, resistance stands at 1,330.70, and a rise through could take it to the level of 1,334.6.

 

GOLD-04-06-2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1298.59 1306.02 1318.09 1325.52 1337.59 1345.02 1357.09
WEEKLY 1251.84 1262.87 1284.34 1295.37 1316.84 1327.87 1349.34
MONTHLY 1240.84 1254.07 1279.94 1293.17 1319.04 1332.27 1358.14