EUR/USD

Bulls successfully defended the top of the channel and managed to pull price back above this week’s open as we saw 1.1200 being retested. The level was staunchly defended by bears and appears to have send some bulls scattering as we see the pair give pack some if its gains. 1.1200 now provides the upper boundary for the pair, with a close above likely to ignite further gains as we see bulls target 1.1225, 1.1250 and 1.1275. 1.1175 provides the lower boundary, which if bears manage to close below will likely see a deeper test of recent lows with targets at 1.1150, 1.1125 and 1.1100.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 1.1066 1.1096 1.1147 1.1177 1.1228 1.1258 1.1196
Weekly 1.0951 1.1064 1.1131 1.1244 1.1311 1.1424 1.1491
Monthly 1.0687 1.0865 1.1011 1.1189 1.1335 1.1513 1.1659
 

GBPUSD

The cable continued to strengthen yesterday as we saw bulls capture the 1.3150 resistance level, pushing price more than 150 pips higher as they popped above 1.3300. Currently the pair is ranging, with 1.3300 providing the first obstacle for bulls should they wish to target 1.3325, 1.3350 and 1.3375. 1.3260 now provides the lower boundary, which bears will look to recapture as a first step to regaining some of their lost ground, with targets at 1.3225, 1.3200 and 1.3175.


GBPUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 1.2962 1.3043 1.3156 1.3237 1.3350 1.3431 1.3544
Weekly 1.2762 1.2894 1.3017 1.3149 1.3272 1.3440 1.3527
Monthly 1.2367 1.2615 1.2876 1.3124 1.3385 1.3633 1.3894
 

AUDUSD

Bull’s managed to capture 0.7525, but have since only managed to reach their first target of 0.7550 as the range tightens in anticipation of the upcoming volatility. 0.7560 forms the upper boundary of the current range and a break above this swill signal further upside with targets at 0.7575 and 0.7600. The lower boundary is defined by the 0.7540 support zone and should bears manage to breach this level, we would expect to see them push for 0.7525, 0.7500 and 0.7475.


AUDUSD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 0.7460 0.7481 0.7517 0.7538 0.7574 0.7595 0.7631
Weekly 0.7365 0.7456 0.7510 0.7601 0.7655 0.7746 0.7800
Monthly 0.7146 0.7317 0.7418 0.7589 0.7690 0.7861 0.7962
 

GOLD

Bulls reached their first target of 1315 after powering through 1310 before finding strong resistance by resilient bears who have since seen the precious metal fall back to the 1310 previous resistance, now support level. Should bears capture 1310, we would see them try for a breach of 1305 as they ultimately look to finish the week below 1300, setting the tone for further downside bias next week. However, should bulls manage to hold 1310, we would see them target 1315 with an eye on 1320, 1325 and 1330 as they make their way towards a retest of recent highs.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
Daily 1293.16 1297.33 1304.76 1308.93 1316.36 1320.53 1327.96
Weekly 1287.74 1302.37 1311.94 1326.57 1336.14 1350.77 1360.34
Monthly 1227.10 1266.70 1286.80 1326.40 1346.50 1386.10 1406.20