USD/JPY

USD/JPY traded with a positive bias for the second consecutive session on Monday and built on the previous session’s goodish bounce from over three-week lows. The US Dollar remains supported by tempered Fed rate cut expectations and the escalating geopolitical tensions do little to hinder the positive move. USD/JPY is expected to find support at 107.71 and a fall through could take it to the support level of 107.57. On the other side, resistance stands at 108.09 and a rise through could take it to the level of 108.26.

USDJPYH

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.59 107.64 107.73 107.78 107.87 107.92 108.00
WEEKLY 106.00 106.61 107.17 107.78 108.34 108.95 109.51
MONTHLY 104.82 105.80 106.85 107.83 108.88 109.86 110.91

EURUSD

EUR/USD remains directionless at the beginning of the week, close in the 1.1220 region. The Euro is expected to remain under scrutiny this week considering the critical ECB event on Thursday, where extra measures of monetary stimulus could be announced. EUR/USD is expected to find support at 1.1206 and a fall through could take it further to the support level of 1.1185 On the other side, resistance stands at 1.1230 and a rise through could take it to the next resistance level of 1.1243.

EURUSDH

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1208 1.1211 1.1214 1.1217 1.1220 1.1223 1.1226
WEEKLY 1.1100 1.1150 1.1186 1.1236 1.1272 1.1322 1.1358
MONTHLY 1.0954 1.1055 1.1212 1.1313 1.1470 1.1571 1.1728

GBPUSD

GBP/USD stared the week on a positive note amid optimism surrounding the Brexit, however geopolitical tensions between the UK and Iran have pushed the pair back below the 1.2500 mark. GBP/USD is expected to find support at 1.2463 and a fall through could take it to the next support level of 1.2437 On the other side, resistance stands at 1.2514, and a rise through could take it to the next resistance level of 1.2536.

GBPUSDH

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2469 1.2481 1.2496 1.2508 1.2523 1.2535 1.2550
WEEKLY 1.2198 1.2290 1.2396 1.2488 1.2594 1.2686 1.2792
MONTHLY 1.2260 1.2383 1.2539 1.2662 1.2818 1.2941 1.3097

GOLD

Gold prices have stabilized following a full downside reversal, and currently consolidated just above a key support of $1,420. On the geopolitical front, besides trade wars that took a back seat on Friday, the news that Iranian guards seized the British Stena Impero tanker in the Strait of Hormuz was keeping the bears in check. Gold is expected to find support at 1,420.20 and a fall through could take it to the support level of 1,413.30. On the other side, resistance stands at 1,433.80, and a rise through could take it to the level of 1,440.20.

XAUUSDH

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1418.85 1421.65 1423.75 1426.55 1428.65 1431.45 1433.55
WEEKLY 1347.49 1374.47 1400.39 1427.37 1453.29 1480.27 1506.19
MONTHLY 1191.06 1250.68 1322.91 1382.53 1454.76 1514.38 1586.61