EURUSD

The pair continues its range bound trading as we see bears maintain the high of 1.1285 while bulls maintain the low of 1.1200. We are seeing an extended consolidation period which with every passing day has and will increase the probabilities of a volatile breakout which will span for several hundred pips. Bull’s will look to break above 1.1285 with an eye on 1.1500 while bears will look to capture 1.1200 with an eye on 1.0900. In the meantime selling resistance and buying support could yield a pretty return as it has for the last few days. Support is currently at 1.1235 and 1.12250 while resistance is at 1.1250 and 1.1275.


EUR/USD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1143 1.1180 1.1212 1.1249 1.1281 1.1318 1.1350
WEEKLY 1.0945 1.1041 1.1137 1.1233 1.1329 1.1425 1.1521
MONTHLY 1.0687 1.0865 1.1011 1.1189 1.1335 1.1513 1.1659
 

GBPUSD

The pair whipsawed in a 100 pip range between 1.3275 and 1.3175 throughout yesterday before closing flat on the day. The short term trend is still bearish and the pair is retesting key resistance at the 1.3250 level, which if bears maintain their grip on, will result in a run to the downside with targets at 1.3225, 1.3200 and 1.3175. However, should bulls recapture 1.3250, they will look to capture 1.3275, 1.3300 and 1.3350 to negate the bearish bias and give themselves a fighting chance for a deeper re-trace of their post Brexit losses.


GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3084 1.3131 1.3185 1.3232 1.3286 1.3330 1.3387
WEEKLY 1.2973 1.3105 1.3186 1.3318 1.3399 1.3531 1.3612
MONTHLY 1.2367 1.2615 1.2876 1.3124 1.3385 1.3633 1.3894
 

AUDUSD

The triple bottom held as we saw the pair break through 0.7475 to trade 50 pips higher before bears re-entered the game. Currently the pair is at strong resistance in the form of the 100 and 200 EMA`s which together with the divergence of price from the stochastics, implies that we might see a break lower should bears capture 0.7500 with targets at 0.7475, 0.7450 and 0.7425. However, should bulls capture 0.7525, we would see further upside to 0.7550, 0.7575 and 0.7600.


AUDUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7385 0.7414 0.7464 0.7493 0.7543 0.7572 0.7622
WEEKLY 0.7269 0.7401 0.7471 0.7603 0.7673 0.7805 0.7875
MONTHLY 0.7146 0.7317 0.7418 0.7589 0.7690 0.7861 0.7962
 

GOLD

Gold found some momentum to break below support, peeking below 1310 before being swung 180 to test resistance at 1320 before settling at 1315 at the end of the day. 1315 is now the midpoint for the battle between the bears and bulls. With both sides looking to extend their advantage, traders will be looking for a close either below 1310 or above 1320, before adding positions, with a break below 1310 suggesting further weakness while a break above 1320 suggests further upside. Resistance is at 1320, 1325 and 1330 while support is at 1310, 1305 and 1300.


GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1299.40 1305.10 1309.30 1315.00 1319.20 1324.90 1329.10
WEEKLY 1291.40 1307.30 1318.70 1334.60 1346.00 1361.90 1373.30
MONTHLY 1227.10 1266.70 1286.80 1326.40 1346.50 1386.10 1406.20