EUR/USD

Bulls have managed to squeeze their way back up to 1.1350, refusing to give up any ground as they look to push higher with targets at 1.1375, 1.1400 and 1.1425. However, the stochastics are looking heavy with bearish divergence creeping in as the stochastics failed to follow price in making a higher high, which may suggest that the bears will begin to step in. Should bears capture 1.1325, we expect them to target 1.1300, 1.1275 and 1.1250.


 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1149 1.1193 1.1260 1.1304 1.1371 1.1415 1.1482
WEEKLY 1.0993 1.1061 1.1169 1.1237 1.1345 1.1413 1.1521
MONTHLY 1.0426 1.0761 1.0947 1.1282 1.1468 1.1803 1.1989
 

GBP/USD

The pair has risen to just shy of 1.4850, making new year to date highs before being battered lower by bargain hunting bears as the pair pierced through the top of the channel which bears will look to hold if they have any hope of reclaiming some of the more than 800 pips lost since last week. Currently the apir is trading around the 1.4750 support level with volatility abound as markets thin out ahead of today’s events. Should bulls manage to capture 1.4850, we would expect them to hunt for 1.4900, 1.4950 and 1.5000. However, with the stochastics turning down from overbought levels and the glimmers of a bearish revival, suggest that we will see profit taking by bulls and bargain selling by bears to drive the pair lower with targets at 1.4650, 1.4600 and 1.4550.


 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4468 1.4555 1.4671 1.4758 1.4874 1.4961 1.5077
WEEKLY 1.3738 1.387 1.4116 1.4252 1.4494 1.4630 1.4872
MONTHLY 1.3842 1.4086 1.4282 1.4526 1.4722 1.4966 1.5162
 

USD/JPY

The pair continues to trade in the range created since last week, where we are seeing the upside capped at 105.00 and the downside capped at 103.50. Currently bears are in the driving seat, managing to peak below 104.00 as they look to probe the 103.50 support zone with targets at 103.00, 102.50 and 102.00. However, should bulls manage to fend off the bears and recapture 104.50, we would see them attack 105.00 with targets at 105.50, 106.00 and 105.50.


 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 103.66 103.99 104.32 104.65 104.98 105.31 105.64
WEEKLY 99.46 101.52 102.82 104.88 106.18 108.24 109.54
MONTHLY 101.06 103.29 107.00 109.23 112.94 115.17 118.88

AUDUSD

Bulls have managed to capture the all-important 0.7500 level and should they manage to hold the level, will be looking to drive prices higher with targets at 0.7550, 0.7600 and 0.7650. However, with the stochastics diverging from price and turning down from overbought levels, we might see a bearish revival which would be confirmed by them capturing the 0.7500 zone from which they will launch their attack on 0.7450, 0.7400 and 0.7350.


 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 0.7141 0.7212 0.7305 0.7376 0.7469 0.7540 0.7633
WEEKLY 0.7141 0.7212 0.7305 0.7376 0.7469 0.7540 0.7633
MONTHLY 0.6428 0.6785 0.7009 0.7366 0.7590 0.7947 0.8171