EUR/USD

The pair experienced whipsaw yesterday after bears initially powered through key support at 1.1250, pushing the pair to 1.1125 where bulls decided enough was enough and re-entered the game, taking back the 1.1250 level. Currently the pair is trading below the 1.1250 resistance level and bears will need to capture 1.1225 as the initial stepping stone to trying to make a new low with interim targets at 1.1200, 1.1175 and 1.1150. However, should bulls recapture 1.1250, they will make a b-line for yesterday highs in hopes of making a new high and making bears question the validity of their conviction. Upside targets are at 1.1250, 1.1275 and 1.1300.


TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1005 1.1068 1.1169 1.1232 1.1333 1.1396 1.1497
WEEKLY 1.1017 1.1130 1.1191 1.1304 1.1365 1.1478 1.1539
MONTHLY 1.0426 1.0761 1.0947 1.1282 1.1468 1.1803 1.1989
 

EURGBP

The pair has put in a lower low after falling just shy of the important 0.8000 handle as bears have managed to break the uptrend and closed below 0.7890. As it stands the pair is considered to be in consolidation until and new higher high or lower low is made, confirming direction. Bears will look to recapture 0.7875 with targets at 0.7850, 0.7825 and 0.7800. While bulls will look to overcome the 0.7925 resistance zone in hopes of recapturing 0.7950, 0.7975 and the all-important 0.8000.


TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7720 0.7797 0.7840 0.7917 0.7960 0.8037 0.8080
WEEKLY 0.7611 0.7684 0.7788 0.7861 0.7965 0.8038 0.8142
MONTHLY 0.7130 0.7346 0.7517 0.7733 0.7904 0.8120 0.8291
 

USDJPY

The pair bottomed out at 103.50 after aggressive selling was stemmed by profit taking and bargain hunting bulls. The downtrend bias is still intact and the bears have managed to defend the 50% region as they look to drive prices higher. A break below 104.00 will open up the gateways for a lower low with targets at 103.75, 103.50 and 103.25. However, should bulls manage to recapture 104.50, they will look to retrace more of their recent losses with targets at 104.75, 105.00 and 105.25.


TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 101.26 102.41 103.59 104.74 105.92 107.07 108.25
WEEKLY 104.50 105.37 106.18 107.05 107.86 108.73 109.54
MONTHLY 101.06 103.29 107.00 109.23 112.94 115.17 118.88
 

AUDUSD

The pair sold off aggressively for the most part of yesterday but we saw the decline stopped abruptly at just below 0.7300 where a pin bar formed and confirmed conditions for a counter trend buy which saw bulls jump at the opportunity as bears took profits. Currently the pair is trading around key resistance at the 0.7375-0.7400 region with a downward bias still intact as the pair makes lower lows and lower highs. Bears will look to capture 0.7375 with target at 0.7350, 0.7325 and 0.7300 while bulls will look to retake 0.7400 in hopes of negating the current downtrend and targeting 0.7425, 0.7450 and 0.7475.


TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7152 0.7219 0.7305 0.7372 0.7458 0.7525 0.7611
WEEKLY 0.7094 0.7203 0.7287 0.7396 0.7480 0.7589 0.7673
MONTHLY 0.6428 0.6785 0.7009 0.7366 0.7590 0.7947 0.8171