USD/JPY

USD/JPY jumped to fresh six-week tops during the early session on Thursday, albeit quickly retreated few pips thereafter and was last seen trading around the 108.00 handle. The pair built on its recent strong recovery move from multi-year lows and continued gaining positive traction for the fourth consecutive session amid encouraging US-China trade developments. USD/JPY is expected to find support at 107.65 and a fall through could take it to the support level of 107.48. On the other side, resistance stands at 108.16 and a rise through could take it to the level of 108.36.

USDJPY_12_09_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 107.21 107.38 107.70 107.87 108.18 108.36 108.67
1 WEEK 104.53 105.13 106.03 106.63 107.53 108.13 109.03
1 MONTH 99.19 101.82 104.07 106.70 108.95 111.58 113.83

EURUSD

EUR/USD is now attempting to extend the corrective rebound beyond the 1.10 handle. The pair is alternating gains with losses early in the Old Continent, shrugging off so far Wednesday’s negative price action and the test of new multi-day lows in the proximity of 1.0980. EUR/USD is expected to find support at 1.1000 and a fall through could take it further to the support level of 1.0980. On the other side, resistance stands at 1.1041 and a rise through could take it to the next resistance level of 1.1056.

EURUSD_12_09_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0910 1.0948 1.0980 1.1018 1.1051 1.1088 1.1121
1 WEEK 1.0782 1.0854 1.0942 1.1014 1.1102 1.1174 1.1262
1 MONTH 1.0597 1.0780 1.0885 1.1068 1.1173 1.1356 1.1461

GBPUSD

GBP/USD shows little reaction to the UK’s political headlines during the Parliament close while waiting for the day’s key event – US CPI data. The quote seesaws near 1.2325 while into the London open on Thursday. GBP/USD is expected to find support at 1.2288 and a fall through could take it to the next support level of 1.2250. On the other side, resistance stands at 1.2369, and a rise through could take it to the next resistance level of 1.2398.

GBPUSD_12_09_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2250 1.2282 1.2309 1.2340 1.2367 1.2398 1.2425
1 WEEK 1.1646 1.1802 1.2042 1.2198 1.2438 1.2594 1.2834
1 MONTH 1.1719 1.1867 1.2013 1.2161 1.2307 1.2455 1.2601

GOLD

Gold quickly reversed an early session dip and rallied back above the key $1,500 psychological mark to hit three-day tops in the last hour. Growing US-China trade optimism exerted some initial downward pressure, however rate cut expectations and a modest US Dollar pullback helped regain positive traction. Gold is expected to find support at 1,493.20 and a fall through could take it to the support level of 1,486.70. On the other side, resistance stands at 1,510.50, and a rise through could take it to the level of 1,519.10.

Gold_12_09_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1472.45 1482.55 1488.75 1498.85 1505.05 1515.15 1521.35
1 WEEK 1475.60 1500.60 1515.00 1540.00 1554.40 1579.40 1593.80
1 MONTH 1286.44 1349.27 1439.34 1502.17 1592.24 1655.07 1745.14