USDJPY

The US dollar is attempting to recover higher against the Japanese yen currency on Monday after the pair found strong support from the 110.24 level. The USDJPY pair is only bullish while trading above the 110.40 level, key technical resistance is found at the 110.80 and 111.10 levels. If the USDJPY pair moves below the 110.40 level, sellers may test towards the 110.24 and 109.80 support levels.

USDJPY_18_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.26 110.32 110.45 110.51 110.63 110.70 110.82
WEEKLY 108.29 108.99 109.74 110.44 111.19 111.89 112.64
MONTHLY 100.87 102.92 105.90 107.95 110.93 112.98 115.96

EURUSD

The euro currency has recovered above the 1.1300 level against the US dollar on hopes that the European Central Bank may provide new loans to troubled European banking institutions. EURUSD bulls need to break above the 1.1337 resistance level to keep the recent bullish move intact. The EURUSD pair is only bearish while trading below the 1.1300 level, key technical support is found at the 1.1260 and 1.1238 levels. If the EURUSD pair moves above the 1.1300 level, buyers may test towards the 1.1337 and 1.1370 resistance levels.

EURUSD_18_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1265 1.1274 1.1284 1.1293 1.1302 1.1312 1.1321
WEEKLY 1.1123 1.1178 1.1236 1.1291 1.1349 1.1404 1.1462
MONTHLY 1.1014 1.1151 1.1298 1.1435 1.1582 1.1719 1.1866

GBPUSD

GBPUSD recovered nicely and broke the 1.2840 and 1.2880 resistance levels. The British Pound declined steadily this past week from the 1.2980 swing high against the US Dollar. The GBPUSD pair broke the 1.2850 and 1.2800 support levels before buyers appeared near the 1.2770 level. Currently, the pair is testing the 1.2915 resistance and more importantly, there is a key connecting bearish trend line formed with resistance at 1.2935 on the hourly chart of GBPUSD.

GBPUSD_18_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2843 1.2867 1.2886 1.2910 1.2929 1.2953 1.2971
WEEKLY 1.2602 1.2687 1.2789 1.2874 1.2976 1.3061 1.3163
MONTHLY 1.1840 1.2139 1.2620 1.2919 1.3400 1.3699 1.4180

GOLD

Gold prices turned bullish on Friday with the price action on the 4-hour chart indicating a breakout from the ascending triangle pattern. This also triggered an upside breakout from the bullish flag pattern. Price tested the previously established resistance level of 1321 before easing back. While the ascending triangle on the 4-hour chart signals a move to 1323, the daily time frame bullish flag pattern gives an upside target of 1347 at the very least. If gold manages to establish support at 1315, we could expect to see some bullish momentum taking over.

GOLD_18_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1322.65 1323.25 1323.75 1324.35 1324.85 1325.45 1325.95
WEEKLY 1288.16 1296.43 1309.26 1317.53 1330.36 1338.63 1351.46
MONTHLY 1244.50 1263.00 1294.10 1312.60 1343.70 1362.20 1393.30