EURUSD

The pair appears to be forming the right shoulder of a bearish head and shoulders and should 1.1250 hold, we would expect the pair to break lower with support at 1.1200, 1.1175 and 1.1150. However, should bulls recapture 1.1250, the H&S is at risk of being negated as bulls look to push higher to 1.1275, 1.1300 and 1.1325.


EUR/USD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1125 1.1152 1.1184 1.1211 1.1243 1.1270 1.1302
WEEKLY 1.1001 1.1060 1.1143 1.1202 1.1285 1.1344 1.1427
MONTHLY 1.0687 1.0865 1.1011 1.1189 1.1335 1.1513 1.1659
 

GBPUSD

Cable hit our first target at 1.3050 and looks to still have some bullishness left in it after bulls managed to maintain the pair above 1.3000. Bulls will look to retake 1.3050 with an eye on 1.3075 and 1.3100. However, should bears retake 1.3000, the pair is at risk of further downside with support at 1.2975, 1.2950 and 1.2925.


GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2931 1.2954 1.2987 1.3010 1.3043 1.3066 1.3099
WEEKLY 1.2674 1.2793 1.2883 1.3002 1.3092 1.3211 1.3301
MONTHLY 1.2367 1.2615 1.2876 1.3124 1.3385 1.3633 1.3894
 

AUDUSD

The pair has peeked above 0.7700 only to be met by strong bearish momentum which has seen a bearish engulfing pattern occur, suggesting that bears mean business. We expect the pair to test support at 0.7675, 0.7650 and 0.7625. However, should bull mange a sneak attack to take out today’s highs, then the bull train will look to steam ahead to 0.7725, 0.7750 and 0.7775.


AUDUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7603 0.7622 0.7657 0.7676 0.7711 0.7730 0.7765
WEEKLY 0.7291 0.7380 0.7500 0.7589 0.7709 0.7798 0.7918
MONTHLY 0.7146 0.7317 0.7418 0.7589 0.7690 0.7861 0.7962
 

GOLD

Gold continue to look heavy as bears moved lower to test 1318 before bull stepped in to rebalance the precious metal around the 1320 level. 1325 is the upside boundary for bulls to capture should they wish to move to the 1330, 1335 and 1340 target zones while bears need to capture 1315 to convince markets of further downside with stops at 1310, 1305 and 1300.


GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1312.10 1316.55 1321.75 1326.20 1331.40 1335.85 1341.05
WEEKLY 1313.34 1318.67 1327.94 1333.27 1342.54 1347.87 1357.14
MONTHLY 1227.10 1266.70 1286.80 1326.40 1346.50 1386.10 1406.20