EURUSD

The 50% fibo has held for bears and they have managed to close below the 1.1200 support level, smashing through the 50 and 100 EMA support zones. The fibo projections have the pair going to 1.1000 with stops at 1.1150, 1.1100 and 1.1050, though we might see some corrections before the move down, we expect bears to fortify resistance at 1.1200, 1.1225 and 1.1250 with a close above the later, the only cause for pause as to the direction of the market as this would turn the trend neutral.


EUR/USD
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1153 1.1178 1.1195 1.1220 1.1237 1.1262 1.1279
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

Cable has broken its post Brexit lows as the pair continues to get hammered deeper into its 1980`s levels with the bias firmly to the downside with targets at 1.2750, 1.2700 and 1.2650. With the oscillators being oversold, we could see a correction to 1.2800, 1.2850 and 1.2900 but only a close above 1.3000 would put the medium term down trend into doubt.


GBPUSD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2657 1.2736 1.2790 1.2869 1.2923 1.3002 1.3056
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 can still observe the potential bearish head and shoulders forming with the pair currently giving us the right shoulder of the move. If bears can retain the price below 0.7675, we might just see the downslide in a pair and the early adopters starting to filter in. That will attract 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, the formation will appear to be arguable, and any move above 0.7710 will confirm this as the pair turns bullish.


AUDUSD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7597 0.7617 0.7645 0.7665 0.7693 0.7713 0.7741
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 continues to slide lower, breaking the 1315 and 1310 support levels as it makes its way to 1305, 1300 and 1295. We expect 1310 to be tested again but bears should be vigilant and maintain the precious metal at this level, however, should bulls capture 1310 and close above 1315, we will likely have a deeper correction with bulls looking to test 1320, 1325 and 1330.


GOLD
 
TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1297.26 1302.73 1305.86 1311.33 1314.46 1319.93 1323.06
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