USDJPY

USD/JPY recovers on the day to resume trading flat, with little on the schedule for today leaves traders unwilling to dedicate to positions ahead of a heavy Thursday showing. USD/JPY is expected to find support at 108.75, and a fall through could take it to the next support level of 108.28. On the other side immediate resistance stands at 109.41, and a rise through could take it to the next resistance level of 109.75.

USDJPYH-08-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.04 108.40 108.68 109.04 109.32 109.68 109.96
WEEKLY 107.10 107.87 108.49 109.26 109.88 110.65 111.27
MONTHLY 102.92 104.28 106.81 108.17 110.70 112.06 114.59

EURUSD

The pair is down for the third session in a row so far today, navigating the area of a fresh 2018 lows, breaking on Monday the critical 1.1900 support level. EUR/USD is expected to find short support at 1.18970 – Monday’s session low, and a fall through could take it further to the support level of 1.1815. On the other side resistance stands at 1.1980, and a rise through could take it to the next resistance level of 1.2009.

EURUSDH-08-05-201

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1814 1.1856 1.1894 1.1936 1.1974 1.2016 1.2054
WEEKLY 1.1637 1.1774 1.1867 1.2004 1.2097 1.2234 1.2327
MONTHLY 1.1590 1.1822 1.1950 1.2182 1.2310 1.2542 1.2670

GBPUSD

The GBP/USD is trading close to 1.3550 ahead of the European session, and the pound looks to be on the weak side. The pair’s initial support remains at 1.3485, and a fall through could take it to the next support level of 1.3455. On the other side resistance stands at 1.3630, and a rise through could take it to the next resistance level of 1.3667.

GBPUSDH-08-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3472 1.3494 1.3531 1.3553 1.3590 1.3612 1.3649
WEEKLY 1.3107 1.3297 1.3415 1.3605 1.3723 1.3913 1.4031
MONTHLY 1.2866 1.3290 1.3531 1.3955 1.4196 1.4620 1.4861

GOLD

Gold’s recovery from the 1300-critical level seems to be short-lived, and the precious metal is falling back, currently trading at 1312 after reaching a peak of 1320 in Monday’s trading. Gold is expected to find support at 1310.15, and a fall through could take it to the next support level of 1303.95. On the other side immediate resistance stands at 1319.05, and a rise through could take it to the next resistance level of 1322.30.

GOLDH-08-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1311.14 1310.67 1313.44 1312.97 1315.74 1315.27 1318.04
WEEKLY 1295.74 1299.57 1306.14 1309.97 1316.54 1320.37 1326.94
MONTHLY 1239.60 1274.60 1295.40 1330.40 1351.20 1386.20 1407.00