USDJPY

USD/JPY is struggling to validate Wednesday’s bullish engulfing candle, as the upside is being capped by the trade tensions. Investors are likely awaiting the result of today’s U.S.-Mexico talks on migration and tariffs and the US employment report, scheduled for release at 12:30 GMT. USD/JPY is expected to find support at 108.12 and a fall through could take it to the support level of 107.84. On the other side, resistance stands at 108.65, and a rise through could take it to the level of 108.89.

USDJPY-07-06-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.59 107.81 108.13 108.35 108.67 108.89 109.21
WEEKLY 106.06 107.17 107.72 108.83 109.38 110.49 111.04
MONTHLY 103.74 106.01 107.15 109.42 110.56 112.83 113.97

EURUSD

EUR/USD lost some ground and test so far daily lows in the 1.1265/60 band, after testing fresh 2-month peaks above 1.1300. The US Dollar weakness was exclusively behind the recovery in spot amidst speculations of a Fed’s rate cut and rising trade tensions, while the ECB event lent extra wings to the European currency after its tone disappointed bears on Thursday. EUR/USD is expected to find support at 1.1231 and a fall through could take it further to the support level of 1.1204. On the other side, resistance stands at 1.1295, and a rise through could take it to the next resistance level of 1.1316.

EURUSD-07-06-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1136 1.1177 1.1226 1.1267 1.1315 1.1357 1.1405
WEEKLY 1.1016 1.1066 1.1117 1.1167 1.1218 1.1268 1.1319
MONTHLY 1.0936 1.1022 1.1095 1.1181 1.1254 1.1340 1.1413

GBPUSD

GBP/USD is side-lined at the 1.2700 mark ahead of the US employment statistics. The surprise victory of opposition Labour party and news favouring another Brexit extension couldn’t fuel the pair further. GBP/USD is expected to find support at 1.2669 and a fall through could take it to the next support level of 1.2647. On the other side, resistance stands at 1.2723, and a rise through could take it to the next resistance level of 1.2742.

GBPUSD-07-06-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2588 1.2628 1.2661 1.2702 1.2735 1.2776 1.2809
WEEKLY 1.2344 1.2451 1.2542 1.2649 1.2740 1.2847 1.2938
MONTHLY 1.1782 1.2170 1.2401 1.2789 1.3020 1.3408 1.3639

GOLD

Gold prices tick down to short-term support-line near $1333 in the European open on Friday, due to upbeat comments from the New York Fed President John Williams ahead of the key employment data for May month. Risk sentiment remained largely unaffected of the latest news as investors await important statistics from the US. Gold is expected to find support at 1,324.10 and a fall through could take it to the support level of 1,318.50. On the other side, resistance stands at 1,339.90, and a rise through could take it to the level of 1,344.10.

Gold-07-06-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1318.49 1324.92 1331.29 1337.72 1344.09 1350.52 1356.89
WEEKLY 1251.84 1262.87 1284.34 1295.37 1316.84 1327.87 1349.34
MONTHLY 1240.84 1254.07 1279.94 1293.17 1319.04 1332.27 1358.14