USDJPY

Contrary to yesterday’s bullish outlook, 2 days of downside rejections did not translate into significant investor demand. Instead failing at lower levels, USD JPY saw modest selling interest that yielded the most bearish close of the last 2 weeks. The USDJPY pair is strong bearish while trading below the 111.39 level, key support is found at the 110.50 and 110.43 levels. If the USDJPY pair trades back above the 111.39 level, buyers may test back towards the 111.90 and 112.20 levels.

USDJPY-26-07-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.84 110.25 110.56 110.97 111.28 111.69 112.00
WEEKLY 109.01 110.20 110.80 111.99 112.59 113.78 114.38
MONTHLY 107.06 107.89 109.29 110.12 111.52 112.35 113.75

EURUSD

The European currency is looking for direction ahead of the opening bell in Euroland, taking EUR/USD to the upper bound of the weekly range in the 1.1730 region. EURUSD is currently neutral with a downside bias expected for the pair if the prices remain below 1.1790. Resistance is seen at 1.1749 and a break from here will expose 1.1792 area. Support is seen at 1.16745 and a fall through could take it further to the support level of 1.1655.

EURUSD-26-07-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1615 1.1640 1.1689 1.1714 1.1763 1.1788 1.1837
WEEKLY 1.1442 1.1508 1.1614 1.1680 1.1786 1.1852 1.1958
MONTHLY 1.1167 1.1338 1.1511 1.1682 1.1855 1.2026 1.2199

GBPUSD

Sterling retains a strong intraday bullish bias while trading above the 1.3177 technical level. Investors will look for further upside towards the 1.3245 and 1.3300 levels, while sellers will look to push the price back below the 1.3177 level. The GBPUSD pair is strongly bullish while trading above the 1.3155 level, key resistance is found at the 1.3205 and 1.3235 levels. key support is found at the 1.3080 and 1.3050 levels.

GBPUSD-26-07-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3087 1.3110 1.3155 1.3178 1.3223 1.3246 1.3291
WEEKLY 1.2625 1.2791 1.2962 1.3128 1.3299 1.3465 1.3636
MONTHLY 1.2592 1.2821 1.3015 1.3244 1.3438 1.3667 1.3861

GOLD

Gold price declined heavily and traded towards $1,210 before correcting higher against the US Dollar. The 4-hour chart of gold indicates that the price traded as low as 1,211 before buyers appeared. Support level remains at 1215 and a fall through could take it to 1200 level. On the flip side first resistance stands at 1232 area and a rise through could take it to the next resistance level of 1242.10.

GOLD-26-07-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1214.94 1219.07 1226.04 1230.17 1237.14 1241.27 1248.24
WEEKLY 1180.76 1196.23 1212.86 1228.33 1244.96 1260.43 1277.06
MONTHLY 1165.26 1205.03 1228.16 1267.93 1291.06 1330.83 1353.96