USD/JPY

USD/JPY eases from six-week highs of 108.89, as S&P 500 futures extend losses amid renewed US-Mexico and Japan-S. Korea trade concerns that help rescue the JPY bulls. USD/JPY is expected to find support at 108.64 and a fall through could take it to the support level of 108.42. On the other side, resistance stands at 108.95, and a rise through could take it to the level of 109.13.

USDJPY-09-07-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.90 108.09 108.41 108.61 108.93 109.13 109.45
WEEKLY 106.67 107.10 107.78 108.21 108.89 109.32 110.00
MONTHLY 104.82 105.80 106.85 107.83 108.88 109.86 110.91

EURUSD

EUR/USD is trading above 1.1200, within a narrow range. Speculation about a new ECB bond-buying scheme weighs on the euro while Fed Chair’s Jerome Powell’s testimony is awaited. EUR/USD is expected to find support at 1.1194 and a fall through could take it further to the support level of 1.1183. On the other side, resistance stands at 1.1232 and a rise through could take it to the next resistance level of 1.1256.

EURUSD-09-07-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1175 1.1191 1.1203 1.1219 1.1231 1.1247 1.1259
WEEKLY 1.0995 1.1101 1.1164 1.1270 1.1333 1.1439 1.1502
MONTHLY 1.0954 1.1055 1.1212 1.1313 1.1470 1.1571 1.1728

GBPUSD

GBP/USD is trading under 1.2500, struggling to hold onto its range, currently at 1.2480, amid uncertainty surrounding the UK’s exit from the EU. GBP/USD is expected to find support at 1.2464 and a fall through could take it to the next support level of 1.2456. On the other side, resistance stands at 1.2507, and a rise through could take it to the next resistance level of 1.2523.

GBPUSD-09-07-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2456 1.2478 1.2496 1.2518 1.2536 1.2558 1.2576
WEEKLY 1.2207 1.2344 1.2435 1.2572 1.2663 1.2800 1.2891
MONTHLY 1.2260 1.2383 1.2539 1.2662 1.2818 1.2941 1.3097

GOLD

Gold Gold has been on the backfoot due to recent supportive data for the Dollar which has reduced expectations of an aggressive interest rate cut from the Federal Reserve. Gold is expected to find support at 1,387.40 and a fall through could take it to the support level of 1,382.70. On the other side, resistance stands at 1,400.00, and a rise through could take it to the level of 1,406.65.

Gold-09-07-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1385.25 1390.15 1394.05 1398.95 1402.85 1407.75 1411.65
WEEKLY 1322.55 1353.70 1377.65 1408.80 1432.75 1463.90 1487.85
MONTHLY 1191.06 1250.68 1322.91 1382.53 1454.76 1514.38 1586.61