USDJPY

USD/JPY pair traded in a narrow trading range through the Asian session on Wednesday and was seen consolidating overnight strong gains to 3-1/2-month tops. Resistance stands a t110.45 and a break above might lead to 111.00 area. On the flip side, retracement back below 110.00 could see the pair target support at 109.75.

USDJPY-16-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.04 109.35 109.83 110.14 110.62 110.93 111.41
WEEKLY 107.54 108.15 108.78 109.39 110.02 110.63 111.26
MONTHLY 102.92 104.28 106.81 108.17 110.70 112.06 114.59

EURUSD

EURUSD remains depresses near 2018 lows trading ahead of the European markets at 1.1845. Support stands at 1.1810and a break below might lead to 1.1800 and 1.1700 as is exposed. Resistance is seen at 1.1880 and a reak above might signal a reversal towards 1.1900 significant resistance area.

EURUSD-16-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1657 1.1737 1.1778 1.1858 1.1899 1.1979 1.2020
WEEKLY 1.1864 1.2035 1.2135 1.2306 1.2406 1.2577 1.2677
MONTHLY 1.1590 1.1822 1.1950 1.2182 1.2310 1.2542 1.2670

GBPUSD

The GBP/USD is trading flat heading into London session, close to the key 1.35 level. Resistance is seen at 1.3525, and a rise through could take it to the next resistance level of 1.3570. On the flipside, support remains at 1.3450, and a fall through could take it to the next support level of 1.3400.

GBPUSD-16-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3323 1.3387 1.3444 1.3508 1.3565 1.3629 1.3686
WEEKLY 1.3307 1.3384 1.3464 1.3541 1.3621 1.3698 1.3778
MONTHLY 1.2866 1.3290 1.3531 1.3955 1.4196 1.4620 1.4861

GOLD

Gold prices edged higher on, after sliding to the lowest level in 2018 earlier in the day amid surging U.S. treasury yields and a stronger dollar. Short term support stands at 1288 and a clear break below will target 1285 handle. Resistance stands at 1298 and a clear break above that level might lead to a retest of the significant resistance area at 1300.

GOLD-16-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1255.60 1271.90 1282.10 1298.40 1308.60 1324.90 1335.10
WEEKLY 1284.40 1294.40 1306.30 1316.30 1328.20 1338.20 1350.10
MONTHLY 1239.60 1274.60 1295.40 1330.40 1351.20 1386.20 1407.00