EURUSD

The pair continues to range between 1.1200 and 1.1250 and is currently mid-range with bears testing 1.1225, we expect the pair to continue oscillating between these levels, making for range trading, buying support and selling resistance, until significant flow can disrupt the equilibrium. Support is at 1.1200, 1.1175 and 1.1150 while resistance is at 1.1250, 1.1275 and 1.1300.


EUR/USD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1209 1.1218 1.1223 1.1232 1.1237 1.1246 1.1251
WEEKLY 1.1036 1.1093 1.1167 1.1224 1.1298 1.1355 1.1429
MONTHLY 1.0921 1.1020 1.1131 1.1230 1.1341 1.1440 1.1551
 

GBPUSD

GBP bears have taken control in early trade, managing to gap below 1.2950 to give the pair a heavy tone. Major support is at 1.2865 and 1.2795, which marks the post Brexit low for the pair and the gateway to multi decade lows. 1.2950 holds the key to any upside, with bull’s likely to test the level one more time before conceding to bears. If they are successful they will look to capture 1.2975, 1.3000 and 1.3025.


GBPUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2844 1.2873 1.2888 1.2917 1.2932 1.2961 1.2976
WEEKLY 1.2762 1.2838 1.2907 1.2983 1.3052 1.3128 1.3197
MONTHLY 1.2242 1.2577 1.2776 1.3111 1.3310 1.3645 1.3844
 

AUDUSD

We see a potential bearish head and shoulder forming with the pair currently forming the right shoulder of the move. Should bears manage to keep price below 0.7675, we might just see the early adopters filter in as the pair begins to sag, attracting more sellers at 0.7650, 0.7625 and 0.7600 as we see the neckline broken and the formation in full force. However, should bulls capture 0.7675, this would begin to place in doubt the formation with a pop above 0.7710 to confirm this as the pair turns bullish.


AUDUSD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7631 0.7638 0.7646 0.7653 0.7661 0.7668 0.7676
WEEKLY 0.7461 0.7524 0.7594 0.7657 0.7727 0.7790 0.7860
MONTHLY 0.7185 0.7312 0.7488 0.7615 0.7791 0.7918 0.8094
 

GOLD

Gold continue to look heavy as bears mo0ved lower to test 1318 before bull stepped in to rebalance the precious metal around the 1320 level. 1325 is the upside boundary for bulls to capture should they wish to move to the 1330, 1335 and 1340 target zones while bears need to capture 1315 to convince markets of further downside with stops at 1310, 1305 and 1300.


GOLD

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1310.20 1313.35 1315.85 1319.00 1321.50 1324.65 1327.15
WEEKLY 1274.64 1293.77 1303.54 1322.67 1332.44 1351.57 1361.34
MONTHLY 1244.04 1272.77 1293.04 1321.77 1342.04 1370.77 1391.04