EUR/USD

EURUSD bulls defended 1.1250 with might resulting in the pair being pushed beyond several resistance points until bears finally stepped in to stem the bullish tide at 1.1340. The pair has since dipped below 1.1300 and trading below the H4 50 and 100 EMA, implying that the bears have still got the short term control of the pair. Downsized targets are at 1.1275, 1.1250 and 1.1225. However, should bulls manage to recapture 1.1300, we would see them push for last week’s highs with interim targets at 1.1325, 1.1350 and 1.1375.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1172 1.1214 1.1255 1.1297 1.1338 1.1380 1.1421
WEEKLY 1.0986 1.1101 1.1168 1.1283 1.1350 1.1465 1.1532
MONTHLY 1.0402 1.0611 1.0995 1.1204 1.1588 1.1797 1.2181
 

GBP/USD

Cable continued to rally yesterday as bulls managed to add another 150 pip advance to stop just shy of 1.4650 before some profit taking led to a dip in price. Currently the pair is trading around the 1.4550 support zone, which will be enticing new bulls to enter the market. Upside targets are at 1.4600, 1.4650 and 1.4700 as bulls look to recover more of this year’s losses. Bears will be looking to recover some of their more recent losses as the short squeeze leaves them stretched, and capturing 1.4550 will give them some momentum to testing 1.4500, 1.4450 and 1.4400.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4342 1.4414 1.4494 1.4566 1.4646 1.4718 1.4798
WEEKLY 1.3883 1.4006 1.4205 1.4328 1.4527 1.4650 1.4849
MONTHLY 1.3388 1.3645 1.4004 1.4261 1.4620 1.4877 1.5236
 

USD/JPY

USDJPY looks set for further upside after bulls managed to successfully defend 111.00. A break above 111.50 will see them target 112.00, 1.1250 and key resistance at 113.00. However, should bears manage to capture 111.00, we will see them use this once bearish ground to target 110.50, 110.00 and 109.50.

USD/JPY

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.97 110.32 110.77 111.12 111.57 111.92 112.37
WEEKLY 105.11 106.46 109.12 110.47 113.13 114.48 117.14
MONTHLY 106.73 108.69 110.64 112.60 114.55 116.51 118.46
 

CRUDE OIL

Crude continued its rampant bullishness yesterday after bulls recaptured 43 at the bottom of the descending flag and made a b-line for 45 after finding large volumes to break 44. The momentum remains bullish and a capture of 45, will see the bulls well on their way to reclaiming 50 with interim targets at 46, 47 and 48. However, should bears mange to control 45 and capture 44.50 then we will see them try make a stand testing lower support levels at 44, 43 and 42.

CRUDE OIL

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 40.74 41.62 43.07 43.95 45.40 46.28 47.73
WEEKLY 32.51 35.06 39.39 41.94 46.27 48.82 53.15
MONTHLY 25.31 29.34 33.84 37.87 42.37 46.40 50.90