EUR/USD

The pair has consolidated in an ever tightening range and is poised to break out. The upper boundary to watch is at 1.1100 and the lower boundary to watch is at 1.1050. Should bulls capture 1.1100, we would see upside pressure to 1.1125, 1.1150 and 1.1175. However, the more likely scenario, given the market momentum, is for bears to capture 1.1050 and drive prices to 1.1025, 1.1000 and 1.0975.


EUR/USD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.0993 1.1014 1.1044 1.1065 1.1095 1.1116 1.1146
WEEKLY 1.0826 1.0920 1.0978 1.1072 1.1130 1.1224 1.1282
MONTHLY 1.0339 1.0624 1.0864 1.1149 1.1389 1.1674 1.1914
 

GBPUSD

Bulls were aggressively rejected at the 50% fibo and the pair has since dropped over 100 pips to settle just above the 1.3200 support zone. Currently it would appear that bears have the edge and a close below 1.3200 on the hourly chart will confirm an entry short with targets at 1.3150, 1.3100 and 1.3050 as bears look to re-ignite the medium and long term bearish trend. However, should bulls surprise markets and capture 1.3250, we would see them target 1.3300, 1.3350 and 1.3400 as they look to take out last week’s highs and drive deeper into post Brexit losses.


GBPUSD


 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3024 1.3093 1.3175 1.3244 1.3326 1.3395 1.3477
WEEKLY 1.2235 1.2542 1.2867 1.3174 1.3499 1.3806 1.4131
MONTHLY 1.0706 1.1912 1.2611 1.3817 1.4516 1.5722 1.6421
 

AUDUSD

AUD bears have managed to drive the pair to key support at 0.7500 after making a stand at 0.7675 and driving prices around 175 pips lower. As it stands support is at 0.7500, 0.7475 and 0.7450. However, should bulls manage to recapture 0.7525, we would see them try one last time to reclaim some ground with targets at 0.7550, 0.7575 and 0.7600.


AUDUSD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7538 0.7555 0.7573 0.7590 0.7608 0.7625 0.7673
WEEKLY 0.7351 0.7435 0.7506 0.7590 0.7661 0.7745 0.7816
MONTHLY 0.6767 0.6983 0.7217 0.7433 0.7667 0.7883 0.8117
 

GOLD

Gold has tightened further as price enters the nose of the wedge. Should bulls capture 1.331, we would see further upside to 1335, 1340 and 1.345. However, should bears capture 1325, we would see further downside to 1320, 1315 and 1310.


GOLD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1315.94 1321.07 1324.74 1329.87 1333.54 1338.67 1342.34
WEEKLY 1259.76 1291.23 1308.86 1340.33 1357.96 1389.43 1407.06
MONTHLY 1080.46 1142.93 1230.66 1293.13 1380.86 1443.33 1531.06