USDJPY

As expected, the pair started a sharp decline that saw it reach an intraday low of 113.00 today. The USDJPY pair is intraday bearish while trading below the 113.52 level, key support is found at the 112.75 and 112.35 levels. There is a likelihood that the price will fall further, potentially to the 111.30 level.

USDJPY-10-10-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 112.27 112.57 112.80 113.10 113.33 113.63 113.86
WEEKLY 112.26 112.89 113.30 113.93 114.34 114.97 115.38
MONTHLY 108.15 109.27 111.48 112.60 114.81 115.93 118.14

EURUSD

Intraday bias is turned neutral for some more consolidations. But another decline is expected as long as 1.1553 minor resistance holds. The pair sees the key technical support holding at 1.1456 and 1.1405 levels. If however the bulls push through above the 1.1500 level, we expect to see key resistance at the 1.1553 and 1.1600 levels.

EURUSD-10-10-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1378 1.1405 1.1455 1.1482 1.1532 1.1559 1.1609
WEEKLY 1.1283 1.1373 1.1449 1.1539 1.1615 1.1705 1.1781
MONTHLY 1.1193 1.1359 1.1484 1.1650 1.1775 1.1941 1.2066

GBPUSD

The GBP/USD pair jumped to an intraday high of 1.3163. This ended the sharp decline the pair had made in the past few days as the dollar strengthened. It is now trading at the 1.3157 level which is along the middle band of the Bollinger Band as it aims to move to the important resistance level of 1.3200. The upward trend will continue as traders wait for the UK GDP numbers and further developments in Brexit negotiations.

GBPUSD-10-10-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2950 1.2992 1.3074 1.3116 1.3198 1.3240 1.3322
WEEKLY 1.2780 1.2850 1.2986 1.3056 1.3192 1.3262 1.3398
MONTHLY 1.2266 1.2526 1.2779 1.3039 1.3292 1.3552 1.3805

GOLD

Gold is trading sideways with some consolidation. If the prices for the precious metal break above the 1195 level, then that should open the door to the 1200 level next. Bearish trend on the intraday and short-term basis see seen. Expected trading range for today is between 1170.00 support and 1200.00 resistance.

GOLD-10-10-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1179.44 1183.07 1188.04 1191.67 1196.64 1200.27 1205.24
WEEKLY 1169.14 1177.47 1189.34 1197.67 1209.54 1217.87 1229.74
MONTHLY 1154.34 1167.17 1179.34 1192.17 1204.34 1217.17 1229.34