USD/JPY

USD/JPY now seems to have entered a consolidation phase and was seen oscillating in a range just below 1-1/2-month tops, set earlier this Tuesday. Resurgent US Dollar demand helped reverse the bearish gap on Monday, however the global flight to safety underpinned the JPY and capped gains. USD/JPY is expected to find support at 107.97 and a fall through could take it to the support level of 107.78. On the other side, resistance stands at 108.41 and a rise through could take it to the level of 108.57.

USDJPY_17_09_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 107.04 107.27 107.72 107.95 108.40 108.63 109.08
1 WEEK 105.63 106.20 107.14 107.71 108.65 109.22 110.16
1 MONTH 99.19 101.82 104.07 106.70 108.95 111.58 113.83

EURUSD

EUR/USD fell 0.65% sharply on Monday, the biggest single-day drop since July 1 neutralizing the immediate bullish outlook. The weekend’s attack on Saudi’s oil production facilities put a haven bid under the Dollar, while market chatter regarding the possibility of US tariffs on EU goods seemingly added to the bearish pressures around the EUR.EUR/USD is expected to find support at 1.0977 and a fall through could take it further to the support level of 1.0956. On the other side, resistance stands at 1.1029 and a rise through could take it to the next resistance level of 1.1054.

EURUSD_17_09_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0877 1.0935 1.0969 1.1027 1.1061 1.1119 1.1152
1 WEEK 1.0781 1.0854 1.0965 1.1038 1.1149 1.1222 1.1333
1 MONTH 1.0597 1.0780 1.0885 1.1068 1.1173 1.1356 1.1461

GBPUSD

GBP/USD stays under pressure ahead of UK Supreme Court hearings. With no positive Brexit developments and an on-going Parliament deadlock at the UK, the pair carries latest profit-booking to 1.2400 while into the European open on Tuesday. GBP/USD is expected to find support at 1.2376 and a fall through could take it to the next support level of 1.2345. On the other side, resistance stands at 1.2440, and a rise through could take it to the next resistance level of 1.2472.

GBPUSD_17_09_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2284 1.2341 1.2383 1.2441 1.2483 1.2541 1.2583
1 WEEK 1.2044 1.2138 1.2320 1.2414 1.2596 1.2690 1.2872
1 MONTH 1.1719 1.1867 1.2013 1.2161 1.2307 1.2455 1.2601

GOLD

Gold pulls back to sub-$1,500 region in search of fresh catalysts, amid the US Dollar strength. The yellow metal benefited from the drone attack on Saudi Arabian oil facilities that destroyed the oil-rich nation’s 50% output. However, the gains were confined due to the US Dollar’s rally backed by recently positive sentiment surrounding the world’s largest economy. Gold spikes to $1,506 from $1,488.75 the low on Saudi Arabia headlines. Gold is expected to find support at 1,485.60 and a fall through could take it to the support level of 1,483.10. On the other side, resistance stands at 1,504.40, and a rise through could take it to the level of 1,515.20.

Gold_17_09_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1483.05 1493.25 1499.25 1509.45 1515.45 1525.65 1531.65
1 WEEK 1443.56 1467.83 1483.66 1507.97 1523.76 1548.03 1563.86
1 MONTH 1286.44 1349.27 1439.34 1502.17 1592.24 1655.07 1745.14