USDJPY

The USDJPY pair peaked at 112.79 at the end of the week, its highest since last January, before easing partially to end Friday at 112.32. Technical indicators have pulled lower from extreme levels, but remain within overbought readings, suggesting a possible downward corrective movement ahead. Support still stands at 112.06 and a fall through could take it to the next support level of 111.34. On the other side resistance stands at 113.00, and a rise through could challenge 113.23 resistance level.

USDJPY-16-07-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 111.99 112.10 112.25 112.36 112.51 112.62 112.77
WEEKLY 108.43 109.39 110.88 111.84 113.33 114.29 115.78
MONTHLY 107.06 107.89 109.29 110.12 111.52 112.35 113.75

EURUSD

The Euro corrected lower this past week and tested the 1.1610 support against the US Dollar. There is a key bullish trend line formed with support at 1.1620 on the same chart. Therefore, if the pair continue to trade above the 1.1610-20 support area, it could mean further uptrend. On the upside, there is a key resistance near 1.1720 and a push above the 1.1720 resistance may perhaps clear the path for more gains towards the 1.1750 level.

EURUSD-16-07-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1657 1.1667 1.1673 1.1683 1.1689 1.1699 1.1705
WEEKLY 1.1425 1.1519 1.1603 1.1697 1.1781 1.1875 1.1959
MONTHLY 1.1167 1.1338 1.1511 1.1682 1.1855 1.2026 1.2199

GBPUSD

The Sterling sees a notable lack of impactful economic data for Monday, but ongoing Brexit concerns, as well as the US President’s recent trip to the UK, will be giving traders plenty to digest as they head into the new week. The immediate resistance is seen at 1.3255, with a break above here targeting 1.3285. Support is seen at 1.31532.

GBPUSD-16-07-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3191 1.3204 1.3216 1.3229 1.3241 1.3254 1.3266
WEEKLY 1.2845 1.2974 1.3105 1.3234 1.3365 1.3494 1.3625
MONTHLY 1.2592 1.2821 1.3015 1.3244 1.3438 1.3667 1.3861

GOLD

Gold is inching higher early Monday amid a softer U.S. Dollar and the lack of follow-through to the downside after Friday’s selling pressure drove the market to its lowest level in seven months. Currently the precious metal is trading around 1245 region down from its recent high of 1265. Short term support stands at 1236.51, and a fall through could take it to the next support level of 1231.01. On the flip side resistance stands at 1255.00, and a rise through could take it to the next resistance level of 1265.00.

GOLD-16-07-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1239.06 1239.93 1240.56 1241.43 1242.06 1242.93 1243.56
WEEKLY 1199.84 1218.27 1230.04 1248.47 1260.24 1278.67 1290.44
MONTHLY 1165.26 1205.03 1228.16 1267.93 1291.06 1330.83 1353.96