USD/JPY

USD/JPY continued gaining positive traction for the third consecutive session on Tuesday and built on last week’s recovery move from four-week lows. The improving risk sentiment dents the JPY’s safe-haven status and remained supportive of the up-move. USD/JPY is expected to find support at 107.91 and a fall through could take it to the support level of 107.70. On the other side, resistance stands at 108.25 and a rise through could take it to the level of 108.46.

USDJPYH

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.36 107.54 107.71 107.89 108.07 108.24 108.42
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 drops to multi-week lows near 1.1180, down for the third consecutive session today, managing to break below the multi-session consolidative theme as well as the critical support area in the 1.1200 neighbourhood. The pair has resumed the downside pressure with the upbeat tone surrounding the buck in response to shrinking bets for a large interest rate cut by the Fed at the July meeting. EUR/USD is expected to find support at 1.1168 and a fall through could take it further to the support level of 1.1154. On the other side, resistance stands at 1.1205 and a rise through could take it to the next resistance level of 1.1222.

EURUSDH

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1174 1.1189 1.1196 1.1211 1.1218 1.1233 1.1240
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 drops as no-deal Brexit fears dominate ahead of UK PM election outcome. Also weighing on the pair, is the US Dollar gains after the Congress agreed over the 2-year debt/spending limit. Adding to the greenback strength could be positive developments surrounding the US-China trade deal. GBP/USD is expected to find support at 1.2463 and a fall through could take it to the next support level of 1.2418 On the other side, resistance stands at 1.2400, and a rise through could take it to the next resistance level of 1.2506.

GBPUSDH

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2390 1.2423 1.2448 1.2481 1.2506 1.2539 1.2564
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 drops to multi-day low as it makes the rounds to $1,417 into the Europe markets’ open on Tuesday, as the US Dollar buyers cheered recent positive news on lower odds of aggressive Fed easing. Gold is expected to find support at 1,410.80 and a fall through could take it to the support level of 1,406.70. On the other side, resistance stands at 1,422.80, and a rise through could take it to the level of 1,428.50.

XAUUSDH

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1414.15 1418.60 1421.45 1425.90 1428.75 1433.20 1436.05
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