USD/JPY

USD/JPY refreshed the lowest levels since March 12 while standing on the slippery near 104.20. The spot is taking clues from the broad risk-off as well as the US dollar’s fresh fall to 26.5-month low. USD/JPY could find support at 104.11 and a fall through may take it further to the support level of 103.89. On the other side, resistance could stand at 104.60, and a rise through may take it to the next resistance level of 105.82.
USDJPY-31-07-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 103.89 104.28 104.51 104.91 105.14 105.53 105.76
1 WEEK 103.52 104.60 105.37 106.45 107.22 108.30 109.08
1 MONTH 102.25 104.16 106.04 107.95 109.83 111.74 113.62

EURUSD

EUR/USD printed a 25-month high above 1.19 in the previous session as the USD selling persists. US economic growth concerns and fiscal impasse weigh over the greenback and EUR/USD’s daily RSI shows overbought conditions, which may induce some profit-taking. The pair is currently trading at 1.1882. EUR/USD could find support at 1.1834 and a fall through may take it further to the support level of 1.1809. On the other side, resistance could stand at 1.1931, and a rise through may take it to the next resistance level of 1.1959.
EURUSD-31-07-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1650 1.1691 1.1769 1.1809 1.1887 1.1927 1.2006
1 WEEK 1.1227 1.1314 1.1485 1.1572 1.1743 1.1830 1.2001
1 MONTH 1.0749 1.0922 1.1077 1.1250 1.1405 1.1578 1.1732

GBPUSD

GBP/USD stays bid near the highest since March 9. Broad US dollar losses supersede downbeat coronavirus updates, fears of no-deal Brexit. The UK announced more local lockdowns after infections surge China says UK ‘poisoned’ relation. GBP/USD could find support at 1.3074 and a fall through may take it further to the support level of 1.3033. On the other side, resistance could stand at 1.3177, and a rise through may take it to the next resistance level of 1.3206.
GBPUSD-31-07-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2831 1.2888 1.2991 1.3047 1.3150 1.3206 1.3309
1 WEEK 1.2317 1.2417 1.2604 1.2704 1.2891 1.2991 1.3178
1 MONTH 1.1602 1.1927 1.2164 1.2489 1.2727 1.3051 1.3289

GOLD

Gold extended its steady recovery mode on Friday, as the bulls look to retest the record highs of $1981.34. The persistent weakness in the US dollar remains the main catalyst behind gold’s surge. Gold is on track to print double-digit monthly gains. Gold could find support at 1,953.30 and a fall through may take it further to the support level of 1,943.60. On the other side, resistance could stand at 1,988.20, and a rise through may take it to the next resistance level of 1,996.80.
Gold-31-07-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1891.40 1910.70 1926.50 1945.80 1961.60 1980.90 1996.70
1 WEEK 1736.54 1771.57 1834.54 1869.57 1932.54 1967.57 2030.54
1 MONTH 1581.41 1626.63 1713.56 1758.78 1845.71 1890.93 1977.86