USD/JPY

USD/JPY was heading towards a test of the 200-day MA overnight in a risk-on market place. The pair were climbing from 108.30 to 108.90 to score a two-month high. However, the pair has come under pressure in the Asian session, possibly due to the Sino-Us political friction and the haven demand for the anti-risk Yen. USD/JPY is expected to find support at 108.45 and a fall through could take it to the support level of 108.24. On the other side, resistance stands at 108.88 and a rise through could take it to the level of 109.09.

USDJPY-16-10-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 107.59 107.87 108.34 108.62 109.09 109.37 109.83
1 WEEK 105.06 105.81 107.12 107.87 109.18 109.93 111.24
1 MONTH 103.64 104.69 106.39 107.44 109.14 110.19 111.89

EURUSD

EUR/USD moves higher as Germany is seen to be potentially softening on their fiscal stance. The headlines from Bloomberg cites German officials as saying that they are preparing for stimulus measures if the economy and GDP figures continue to take a hit. The pair rose from 1.1030 levels to 1.1060 in the last hour. EUR/USD is expected to find support at 1.1035 and a fall through could take it further to the support level of 1.1021. On the other side, resistance stands at 1.1061 and a rise through could take it to the next resistance level of 1.1074.

EURUSD-16-10-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0947 1.0969 1.1002 1.1024 1.1057 1.1079 1.1112
1 WEEK 1.0783 1.0831 1.0905 1.0953 1.1027 1.1075 1.1149
1 MONTH 1.0593 1.0739 1.0819 1.0965 1.1045 1.1191 1.1271

GBPUSD

GBP/USD is holding slightly lower as Brexit negotiations look set to continue in Brussels today before the European Council summit begins tomorrow. The pair is trading around 1.2777, off the highs, ahead of UK CPI. GBP/USD is expected to find support at 1.2728 and a fall through could take it to the next support level of 1.2706. On the other side, resistance stands at 1.2812, and a rise through could take it to the next resistance level of 1.2839.

GBPUSD-16-10-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2447 1.2525 1.2643 1.2721 1.2839 1.2917 1.3035
1 WEEK 1.1814 1.2004 1.2327 1.2517 1.2840 1.3030 1.3353
1 MONTH 1.1348 1.1654 1.1972 1.2278 1.2596 1.2902 1.3220

GOLD

Gold prices are taking a backseat as risk appetite returns while various geopolitical developments make for positive headlines this week. Gold edged lower on today, falling from a high of $1498.52 to a low of $1477.26 on a spot basis. Gold is expected to find support at 1,475.40 and a fall through could take it to the support level of 1,473.30. On the other side, resistance stands at 1,485.00, and a rise through could take it to the level of 1,488.50.

Gold-16-10-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1455.41 1468.18 1476.91 1489.68 1498.41 1511.18 1519.91
1 WEEK 1426.06 1452.03 1470.36 1496.33 1514.66 1540.63 1558.96
1 MONTH 1344.50 1407.50 1440.20 1503.20 1535.90 1598.90 1631.60