USDJPY

USD/JPY traded with a negative bias at the start of a new trading week, currently at 109.65, although has managed to rebound around 15-pips from the earlier session swing low. Weaker US bond yields and a subdued US Dollar demand seems to keep a lid on any attempted bounce. USD/JPY is expected to find support at 109.44 and a fall through could take it to the support level of 109.34. On the other side, resistance stands at 110.00, and a rise through could take it to the level of 110.25.

USDJPY-13-05-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.34 109.49 109.56 109.71 109.78 109.93 110.01
WEEKLY 107.77 108.62 109.28 110.13 110.79 111.64 112.30
MONTHLY 109.09 109.95 110.69 111.55 112.29 113.15 113.89

EURUSD

EUR/USD navigates in the 1.1220/30 region and continues to consolidate above the recently broken 1.1200 barrier. The pair seems to have met some tough resistance near the 1.1250/60 band, where coincide recent peaks and the key 55-day SMA. EUR, as well as the rest of the risk-associated complex, keeps looking to developments from the US-China trade war. EUR/USD is expected to find support at 1.1212 and a fall through could take it further to the support level of 1.1191. On the other side, resistance stands at 1.1248, and a rise through could take it to the next resistance level of 1.1261.

EURUSD-13-05-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1215 1.1223 1.1229 1.1237 1.1243 1.1251 1.1257
WEEKLY 1.1084 1.1122 1.1179 1.1217 1.1274 1.1312 1.1369
MONTHLY 1.0896 1.1004 1.1110 1.1218 1.1324 1.1432 1.1538

GBPUSD

GBP/USD is trading around 1.3000 barrier, continuing last week’s trading pattern, amid heightened Brexit uncertainty and has been able to post marginal gains despite escalating US-China trade tensions and the resulting risk aversion. GBP/USD is expected to find support at 1.2975 and a fall through could take it to the next support level of 1.2959. On the other side, resistance stands at 1.3038, and a rise through could take it to the next resistance level of 1.3061.

GBPUSD-13-05-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2969 1.2980 1.2993 1.3004 1.3018 1.3028 1.3042
WEEKLY 1.2718 1.2843 1.2922 1.3047 1.3126 1.3251 1.3330
MONTHLY 1.2536 1.2701 1.2868 1.3033 1.3200 1.3365 1.3532

GOLD

Gold prices are weighing the competing influence of bond yields and the US Dollar as the trade war between the US and China escalates, souring the markets’ mood. Gold is expected to find support at 1,279.40 and a fall through could take it to the support level of 1,276.70. On the other side, resistance stands at 1,285.34, and a rise through could take it to the level of 1,289.20.

GOLD-13-05-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1285.75 1286.55 1287.25 1288.05 1288.75 1289.55 1290.25
WEEKLY 1264.39 1271.27 1278.99 1285.87 1293.59 1300.47 1308.19
MONTHLY 1217.19 1242.62 1263.79 1289.22 1310.39 1335.82 1356.99