EUR/USD

Bulls found strong resistance at the 23.5% fibo and have twice failed to break through with the pair in line to post a lower low on the H1 chart, hinting at a possible reversal. Should bulls manage to take control of 1.1150, we might see more upside as they look to test 1.1175, 1.1200 and 1.1225 while a break below 1.1125 would see bears use their momentum to target 1.1100, 1.1075 and 1.1050.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1051 1.1091 1.114 1.1154 1.1177 1.1217 1.1240
WEEKLY 1.0817 1.0930 1.1008 1.1121 1.1199 1.1312 1.1390
MONTHLY 1.0771 1.0862 1.1015 1.1106 1.1259 1.1350 1.1503
 

GBPUSD

1.3000 formed key resistance despite several bullish attempts to break higher, bears have successfully defended 1.2975 twice today and are looking to pull the rug from under the cables feet with a break of 1.2950 likely to signal the start of the move with targets at 1.2925, 1.2900 and 1.2875. However, should bulls manage to capture 1.2975, we would see some upside to 1.3000, 1.3025 and 1.3050.


GBPUSD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2822 1.2878 1.2916 1.2972 1.3010 1.3066 1.3104
WEEKLY 1.2579 1.2799 1.2936 1.3156 1.3293 1.3513 1.3650
MONTHLY 1.2165 1.2481 1.2849 1.3165 1.3533 1.3849 1.4217
 

USDJPY

The pair reacted as expected at the 101 support level and catapulted through several resistance points to finish the day at around 102.00. Currently the pair is consolidating with 102.00 the target for bears, which if they break, will see them try recapture some of yesterday’s losses with targets at 1014.75, 101.50 and 101.25. To the upside, bulls would have to capture 102.25 to convince the markets of further upside with targets at 102.50, 102.75 and 103.00.


USD/JPY
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 100.22 100.61 101.28 101.67 102.34 102.73 103.40
WEEKLY 98.53 99.59 100.70 101.76 102.84 103.93 105.04
MONTHLY 91.60 95.81 99.07 103.28 106.54 110.75 114.01
 

GOLD

Bears fended off a retest of 1350 to take control of the precious metal as they drove prices to lows of 1334 before price entered consolidation. Currently the pair is trading at 1340 with 1345, 1350 and 1355 the targets for bulls and 1335, 1330 and 1325 the targets for bears.


GOLD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1319.14 1326.97 1334.74 1342.57 1350.34 1358.17 1365.94
WEEKLY 1292.44 1313.07 1324.74 1345.37 1357.04 1377.67 1389.34
MONTHLY 1251.66 1281.08 1318.61 1348.03 1385.56 1414.98 1452.51