USD/JPY

USD/JPY is trading just under the 108.00 handle while into the European open on Monday. Japanese markets are off due to the Marine Day Holiday, as the risk sentiment remained light after China’s data dump provided signs of improvement in the world’s second-largest economy. USD/JPY is expected to find support at 107.77 and a fall through could take it to the support level of 107.59. On the other side, resistance stands at 108.11, and a rise through could take it to the level of 108.36.

USDJPY_15_07_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.59 107.69 107.77 107.87 107.95 108.05 108.13
WEEKLY 106.28 107.04 107.48 108.24 108.68 109.44 109.88
MONTHLY 104.82 105.80 106.85 107.83 108.88 109.86 110.91

EURUSD

EUR/USD continues to consolidate in a tight range below the 1.13 handle, as resurgent USD demand combined with increased calls for ECB monetary policy easing cap the further upside. The cautious tone is expected to gather traction among EUR investors in response to the potential announcements of easing measures by the ECB. EUR/USD is expected to find support at 1.1257 and a fall through could take it further to the support level of 1.1239. On the other side, resistance stands at 1.1286 and a rise through could take it to the next resistance level of 1.1305.

EURUSD_15_07_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1255 1.1260 1.1266 1.1271 1.1277 1.1282 1.1288
WEEKLY 1.1122 1.1158 1.1215 1.1251 1.1308 1.1344 1.1401
MONTHLY 1.0954 1.1055 1.1212 1.1313 1.1470 1.1571 1.1728

GBPUSD

GBP/USD benefits from the US Dollar weakness while political/Brexit uncertainty at home gains little attention, as it takes the bids to 1.2570 while into the London open on Monday. Markets remain side-lined ahead of the key employment data scheduled for release during the week. GBP/USD is expected to find support at 1.2548 and a fall through could take it to the next support level of 1.2531. On the other side, resistance stands at 1.2584, and a rise through could take it to the next resistance level of 1.2598.

GBPUSD_15_07_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2519 1.2533 1.2552 1.2566 1.2585 1.2599 1.2618
WEEKLY 1.2342 1.2391 1.2483 1.2532 1.2624 1.2673 1.2765
MONTHLY 1.2260 1.2383 1.2539 1.2662 1.2818 1.2941 1.3097

GOLD

Gold prices are consolidated at the start of the week, following a bullish close on Friday as investors price in a rate cut from the Federal Reserve later this month. The price of the yellow metal continues to base and ended the North American session around $1,414 on Friday and remained close to that level on Monday’s European open. Gold is expected to find support at 1,406.80 and a fall through could take it to the support level of 1,402.60. On the other side, resistance stands at 1,417.40, and a rise through could take it to the level of 1,423.20.

Gold_15_07_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1407.89 1411.32 1414.69 1418.12 1421.49 1424.92 1428.29
WEEKLY 1353.41 1370.78 1394.21 1411.58 1435.01 1452.38 1475.81
MONTHLY 1191.06 1250.68 1322.91 1382.53 1454.76 1514.38 1586.61