USDJPY

The USD/JPY pair has moved up further in the upward channel, currently trading at 109.80 levels, with the market focusing on the FOMC Meeting later in the day. USD/JPY is expected to find support at 109.64, and a fall through could take it to the next support level of 109.51. On the other side resistance stands at 109.92, and a rise through could take it to the next resistance level of 110.50.

USDJPY-02-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.78 109.02 109.44 109.68 110.10 110.34 110.76
WEEKLY 106.09 106.88 107.96 108.75 109.83 110.62 111.70
MONTHLY 102.04 103.30 104.79 106.05 107.54 108.80 110.29

EURUSD

The EUR/USD pair weakened further yesterday, seeing a low of 1.1981 and thereby testing support on daily candles near 1.198-1.200. At this point is all about the Fed and how the market takes the statement. EUR/USD is expected to find support at 1.1980, and a fall through could take it to the next support level of 1.1926. On the other side resistance stands at 1.2023, and a rise through could take it to the next resistance level of 1.20850.

EURUSD-02-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1854 1.1918 1.1955 1.2019 1.2056 1.2120 1.2157
WEEKLY 1.1794 1.1925 1.2028 1.2159 1.2262 1.2393 1.2496
MONTHLY 1.1836 1.1995 1.2159 1.2318 1.2482 1.2641 1.2805

GBPUSD

The GBP/USD pair maintained its bearish trend, braking the 1.3600 handle. The pair is expected to find support at 1.3546, and a fall through could take it to the next support level of 1.3478. On the other side resistance stands at1.3633, and a rise through could take it to the next resistance level of 1.3705.

GBPUSD-02-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3356 1.3472 1.3541 1.3657 1.3726 1.3842 1.3911
WEEKLY 1.3392 1.3570 1.3675 1.3853 1.3958 1.4136 1.4241
MONTHLY 1.3205 1.3459 1.3738 1.3992 1.4271 1.4525 1.4804

GOLD

Gold has declined further against the USD and closed at $1304.00 per ounce, due to strong US Dollar demand. As currently trading at $1308, gold is expected to find support at 1303.20, and a fall through could take it to the next support level of 1301.60. On the other side resistance stands at 1312.60, and a rise through could take it to the next resistance level of 1315.30.

GOLD-02-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1286.60 1294.50 1300.30 1308.20 1314.00 1321.90 1327.70
WEEKLY 1297.56 1306.93 1315.66 1325.03 1333.76 1343.13 1351.86
MONTHLY 1250.24 1279.77 1303.54 1333.07 1356.84 1386.37 1410.14