EUR/USD

EURUSD bull’s hit their upside target of 1.1300 and managed to push higher to 1.1338 as they pierced through the weekly 50 EMA. Currently the pair has found resistance at the back of the trend line formed a year ago in FEB and is looking for further bullish support as the daily MACD establishes a bullish sentiment. Bulls will be looking to recapture the SEP 15 highs of 1.1493, which lies just beyond yet another resistance point in the form of the 23.6% fibo level drawn from last year’s high at 1.1713. Support will be waiting at 1.1250, 1.1200 and 1.1150.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1012 1.1087 1.1188 1.1263 1.1364 1.1439 1.1540
WEEKLY 1.0464 1.0638 1.0898 1.1072 1.1332 1.1506 1.1776
MONTHLY 1.0425 1.0567 1.0702 1.0844 1.0979 1.1121 1.1256
 

GBP/USD

The GBPUSD has been trading in a range between 1.4450 and 1.4500 for the best part of 24 hours despite runaway moves in other US crosses. A break above 1.4500 will open the way for 1.4545 and 1.4590. However, a break below 1.445 will potential open the way for a continuation of the long term trend and see the pair test support at 1.4400, 1.4350 and 1.4300.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4253 1.4313 1.4389 1.4452 1.4525 1.4588 1.4661
WEEKLY 1.3816 1.4020 1.4262 1.4466 1.4708 1.4912 1.5154
MONTHLY 1.3209 1.3644 1.3945 1.4380 1.4681 1.5116 1.5417
 

USD/CHF

The pair has extended recent losses and is trading at its OCT 2015 levels, with the hourly 50 and 100 EMAs firmly negative with a strong slope. Currently the pair is taking a breather which may be driven deeper by bulls as they look for 0.9800, 0.9870 and 0.9920. However, the more likely scenario, should the pair break its current corrective uptrend, is for further bearishness as bears drive deeper into 2015 lows with targets at 0.9700, 0.9650 and 0.9600.

USD/CHF

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.9482 0.9589 0.9660 0.9767 0.9838 0.9945 1.0016
WEEKLY 0.9402 0.9641 0.9976 1.0015 1.0150 1.0389 1.0524
MONTHLY 0.9601 0.9739 0.9986 1.0124 1.0371 1.0509 1.0756
 

CRUDE OIL

Crude dropped sharply after finding resistance at $32, only to find support just above the $29 support level. Currently bulls are retesting $30 and should they be successful in closing above, we would see them extend gains towards the $31, $32 and $33 resistance levels. However, should bears successfully defend the $30 zone, we expect prices to reach $29 and eventually $27.68 as bears attempt to make new multi-year lows.

CRUDE OIL

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 24.39 26.07 27.24 28.92 30.09 31.77 32.94
WEEKLY 21.02 26.71 28.80 31.49 33.58 36.27 38.36
MONTHLY 14.89 20.54 27.09 32.71 39.29 44.94 51.49