EUR/USD

Bulls have successfully tested 1.1300 and are likely to unwind some of their positions near this weeks open as bears step in to defend the key zone. Should bulls maintain their grip, we expect them to march on to 1.1325 and 1.1350 as they look to test this week’s highs. However, with bearish divergence evident, it is likely that we will see a sell off as bears bargain hunt and drive prices lower to 1.1275, 1.1250 and 1.1225.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1210 1.1232 1.1257 1.1279 1.1304 1.1326 1.1351
WEEKLY 1.0982 1.1067 1.1196 1.1281 1.1410 1.1495 1.1624
MONTHLY 1.0766 1.0858 1.1016 1.1108 1.1266 1.1358 1.1516
 

GBPUSD

The Cable is currently trading between 1.3175 and 1.3225 as market forces consolidate after bears stepped up and recapture 1.325 with conviction. Should bulls manage to capture 1.3250, we would see them target 1.3275, 1.3300 and 1.3325. However, bears will look to take advantage of overbought conditions, capturing 1.3175, and targeting 1.3150, 1.3125 and 1.3100 as they look to close the week in negative territory.


GBPUSD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3048 1.3106 1.3148 1.3206 1.3248 1.3306 1.3348
WEEKLY 1.2573 1.2718 1.2896 1.3041 1.3219 1.3364 1.3542
MONTHLY 1.2168 1.2482 1.2857 1.3171 1.3546 1.3860 1.4235
 

AUDUSD

The pair is currently oscillating between support at 0.7600 and resistance at 0.7650 as the pair looks for direction. A break above 0.7650 would see the bullish medium term trend reignited as bulls try for 0.7675, 0.7700 and 0.7725. However, should bears manage to capture 0.7600, we would see bears push for 0.7575, 0.7550 and 0.7525.


AUD/USD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7555 0.7577 0.7597 0.7619 0.7639 0.7661 0.7681
WEEKLY 0.7406 0.7501 0.7564 0.7659 0.7722 0.7817 0.7880
MONTHLY 0.7172 0.7288 0.7443 0.7559 0.7714 0.7830 0.7985
 

GOLD

Bears managed to squeeze price lower, dipping below 1320 before bull re-entered the market, driving price back to 1325 as we see the pair oscillate between the two key levels as direction is sought. Should bulls manage to capture 1325, we would see them target 1330, 1335 and 1340. However, should bears capture 1320, we would see them target 1315, 1310 and 1305.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1309.74 1313.37 1316.74 1320.37 1323.74 1327.37 1330.74
WEEKLY 1309.60 1321.60 1331.00 1343.00 1352.40 1364.40 1373.80
MONTHLY 1254.14 1283.47 1316.40 1345.57 1378.34 1407.67 1440.44