EUR/USD

The EURUSD closed in negative territory for the second consecutive week in a row as it shed over 300 pips with no reply from the bulls. Currently, the pair is trading off its recent lows as bull guard 1.1300, pushing for 1.1325, 1.1350 and 1.1375 where key resistance awaits as we see the confluence of the H4 50 and 100 EMA`s and the back of the medium term trend line (past support turned resistance) and the short term downward sloping trend line. Bears will look to defend these areas and at the very least throw everything at 1.1375 as they look to drive price below 1.1300 with targets at 1.1275 and 1.1250.

EUR/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1291 1.1297 1.1307 1.1313 1.1323 1.1329 1.1339
WEEKLY 1.1075 1.1178 1.1243 1.1346 1.1411 1.1514 1.1579
MONTHLY 1.1037 1.1125 1.1290 1.1378 1.1543 1.1631 1.1796
 

GBP/USD

GBPUSD bears finally overcame bullish support to trade below the lower boundary of the week long consolidation zone. Resistance is expected at 1.43750, 1.4400 and 1.4425 where we expect to see bears be relentless on their assault on the pair as they target 1.4350, 1.4325 and 1.4300.

GBP/USD

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.4329 1.4337 1.4344 1.4352 1.4359 1.4367 1.4374
WEEKLY 1.4098 1.4218 1.4290 1.4410 1.4482 1.4602 1.4674
MONTHLY 1.3520 1.3762 1.4187 1.4427 1.4854 1.5096 1.5521
 

USDJPY

The USDJPY appears to have topped out at the 50 % fibo level of the most recent decline in prices as we see the pair enter its 5th day of consolidation. Bears have successfully defended 109.00 and the most likely scenario has them looking to capture 108.50 which will see bulls exiting the market and more bears entering for a push lower with targets at 108.00, 107.50 and 107.00. However, should bulls capture 109.00, we would see them try push higher as they target 109.50, 110.00 and 110.50 driving the recent retracement to the 23.6% fibo.
USDJPY

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.31 108.39 108.53 108.61 108.75 108.83 108.97
WEEKLY 104.74 105.87 107.4 108.37 109.74 110.87 112.24
MONTHLY 96.89 101.58 103.21 107.90 109.53 114.22 115.85
 

CRUDE OIL

The commodity found strong support at 46.50 and is currently testing 47.50 which bulls will look to capture on their journey to 50, with interim targets at 48 and 49. Should bears manage to capture 47, we would see a move lower to 46.50, where bears will look to capture this level in hopes of turning the tide as they target 46, 45 and 44.

CRUDE OIL

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 45.85 46.00 46.15 46.30 46.45 46.60 46.75
WEEKLY 39.83 41.43 43.82 45.42 47.81 49.41 51.80
MONTHLY 26.98 31.11 38.52 42.65 50.06 54.19 61.60