USD/JPY

USD/JPY witnessed a 20-pips drop over the last hour, as the buying interest gathered pace around the safe-haven Yen amid renewed worries over the US-China trade spat. Further, the risk sentiment also received a fresh blow following the latest report citing sources that the expectations for progress toward ending the trade war from the upcoming Trump-XI meeting are low. USD/JPY is expected to find support at 108.16 and a fall through could take it to the support level of 108.00. On the other side, resistance stands at 108.48, and a rise through could take it to the level of 108.72.

USDJPY-12-06-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.84 108.10 108.29 108.55 108.74 109.00 109.20
WEEKLY 106.99 107.40 107.80 108.21 108.61 109.02 109.42
MONTHLY 103.74 106.01 107.15 109.42 110.56 112.83 113.97

EURUSD

EUR/USD is advancing for the second session in a row on Wednesday, navigating weekly highs in the 1.1340 region. The pair moves higher on the back of the continuation of the downside pressure in the greenback, always with rising speculations of a rate cut by the Fed at some point later in the year. EUR/USD is expected to find support at 1.1304 and a fall through could take it further to the support level of 1.1274. On the other side, resistance stands at 1.1351, and a rise through could take it to the next resistance level of 1.1368.

EURUSD-12-06-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1274 1.1288 1.1309 1.1323 1.1344 1.1358 1.1379
WEEKLY 1.1016 1.1086 1.1209 1.1279 1.1402 1.1472 1.1595
MONTHLY 1.0936 1.1022 1.1095 1.1181 1.1254 1.1340 1.1413

GBPUSD

GBP/USD is taking rounds near 1.2730 as traders await US CPI amid UK’s political play. Apart from politics, the British Pound recently portrayed upbeat results from the UK average earnings numbers and became the best G10 currency. GBP/USD is expected to find support at 1.2707 and a fall through could take it to the next support level of 1.2686. On the other side, resistance stands at 1.2745, and a rise through could take it to the next resistance level of 1.2761.

GBPUSD-12-06-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2624 1.2647 1.2686 1.2709 1.2748 1.2771 1.2810
WEEKLY 1.2487 1.2548 1.2642 1.2703 1.2797 1.2858 1.2952
MONTHLY 1.1782 1.2170 1.2401 1.2789 1.3020 1.3408 1.3639

GOLD

Gold allies back closer to weekly tops, around $1,335 area, as the US-China trade tensions continue to benefit the commodity’s safe-haven status. Also, increasing bets for an eventual Fed rate cut remained supportive of the up-move. Gold is expected to find support at 1,328.30 and a fall through could take it to the support level of 1,320.30. On the other side, resistance stands at 1,341.10, and a rise through could take it to the level of 1,346.30.

Gold-12-06-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1315.45 1319.55 1325.55 1329.65 1335.65 1339.75 1345.75
WEEKLY 1275.54 1291.27 1316.24 1331.97 1356.94 1372.67 1397.64
MONTHLY 1240.84 1254.07 1279.94 1293.17 1319.04 1332.27 1358.14