EUR/USD

The pair continues to consolidate after last week’s heavy selloff with bears displaying a slight edge as price slowly squeezes lower with 1.1175 forming the new resistance level to watch as bears look to 1.1150, 1.1125 and 1.1100. On the other hand, bulls will be looking to fortify this area with orders as they look to recapture 1.1175 and march on-wards to 1.1200, 1.1225 and 1.1250 in a last ditch attempt to recapture some of last week’s lost pips.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1108 1.1132 1.1160 1.1184 1.1212 1.1236 1.1264
WEEKLY 1.0951 1.1064 1.1131 1.1244 1.1311 1.1424 1.1491
MONTHLY 1.0766 1.0858 1.1016 1.1108 1.1266 1.1358 1.1516
 

GBPUSD

The cable has been consolidating between 1.3125 and 1.3075 as further direction is sought after the trend has turned bearish. Should bears close below 1.3075, we would expect a retest of 1.3050, 1.3025 and 1.3000. However, should bulls capture 1.3100, we would see them make a move for 1.3125, 1.3150 and 1.3175 as they seek to erase last week’s losses.


GBPUSD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2976 1.3060 1.3100 1.3144 1.3184 1.3228 1.3168
WEEKLY 1.2762 1.2894 1.3017 1.3149 1.3272 1.344 1.3527
MONTHLY 1.2168 1.2482 1.2857 1.3171 1.3546 1.3860 1.4235
 

AUDUSD

0.7575 has proven a formidable barrier for bulls to penetrate and bears have retaken control and are heading for the 0.7550 support level, which will form the first barrier to 0.7525 and 0.7500. Should bull manage to capture 0.7575, we would expect them to target 0.7600, 0.7625 and 0.7650 as they test deeper into last week’s decline.


AUD/USD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7472 0.7497 0.7533 0.7558 0.7594 0.7619 0.7655
WEEKLY 0.7365 0.7456 0.7510 0.7601 0.7655 0.7746 0.7800
MONTHLY 0.7172 0.7288 0.7443 0.7559 0.7714 0.7830 0.7985
 

GOLD

Gold continues to consolidate between 1315 and 1325, with bears managing to keep prices at the previous weeks lows for a second week in a row. As it stands, support is at 1315 with 1310 and 1305 providing additional support before the key 1300 support level. To the upside we have resistance at 1325, with targets at 1330, 1335 and 1340.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1309.60 1312.30 1317.60 1320.30 1325.60 1328.30 1333.60
WEEKLY 1287.74 1302.37 1311.94 1326.57 1336.14 1350.77 1360.34
MONTHLY 1254.14 1283.47 1316.40 1345.57 1378.34 1407.67 1440.44