USDJPY

USD/JPY retreats farther below as it moves moves around 110.40 during early Wednesday. USD/JPY registered biggest losses since mid-Feb as the US Dollar declined across the board after weak data and Fed Chair’s testimony. USD/JPY is expected to find support at 110.26, and a fall through could take it to the support level of 110.00. On the other side, resistance stands at 110.68, and a rise through could take it to the level of 110.88.

USDJPY_27_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.85 110.12 110.41 110.68 110.97 111.24 111.53
WEEKLY 108.29 108.99 109.74 110.44 111.19 111.89 111.64
MONTHLY 100.87 102.92 105.90 107.95 110.93 112.98 115.96

EURUSD

EUR/USD is trading below 1.1400 – currently at 1.1395, consolidating its gains. Fed Chair Powell repeated the message of patience on raising rates, weighing on the US Dollar. Powell is scheduled for the second day of Congressional today. EUR/USD is expected to find support at 1.1355 and a fall through could take it further to the support level of 1.1336. On the other side, resistance stands at 1.1409, and a rise through could take it to the next resistance level of 1.1428.

EURUSD_27_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1306 1.1321 1.1342 1.1357 1.1378 1.1393 1.1415
WEEKLY 1.1188 1.1232 1.1287 1.1331 1.1386 1.1430 1.1485
MONTHLY 1.1014 1.1151 1.1298 1.1435 1.1582 1.1719 1.1866

GBPUSD

GBP/USD is trading at 1.3265, holding the significant gains seen on Tuesday, as UK PM May opened the door to a delay in Brexit. The pair also was boosted by Powell’s testimony yesterday, as he weighed on the US Dollar by repeating the “patient” message. GBP/USD is expected to find support at 1.3217 and a fall through could take it to the next support level of 1.3180. On the other side, resistance stands at 1.3295, and a rise through could take it to the next resistance level of 1.3315.

GBPUSD_27_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2964 1.3008 1.3068 1.3111 1.3171 1.3214 1.3275
WEEKLY 1.2707 1.2799 1.2926 1.3018 1.3145 1.3237 1.3364
MONTHLY 1.1840 1.2139 1.2620 1.2919 1.3400 1.3699 1.4180

GOLD

Gold trades lower than the $1,330 during the early European session on Wednesday, currently at $1,326.25. On Tuesday, the bullion bounced off the thirteen-month-old descending trend-line support, previously acting as a resistance. Gold is expected to find support at the level of 1,322.05 and a fall through could take it to 1,314.35 level. On the other side, resistance stands at 1,331.20, and a rise through could take it to the next resistance level of 1,338.85.

GOLD_27_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1318.64 1322.97 1326.24 1330.57 1333.84 1338.17 1341.44
WEEKLY 1294.30 1308.80 1320.80 1335.30 1347.30 1361.80 1373.80
MONTHLY 1244.50 1263.00 1294.10 1312.60 1343.70 1362.20 1393.30