USDJPY

The US dollar is trading to the downside against the Japanese yen currency on Monday, following a broad-based correction lower in the value of the greenback. The USDJPY pair is bearish while trading below the 110.55 level, key support is found at the 110.10 and 109.00 levels. If the USDJPY pair trades above the 109.55 level, buyers are likely to test towards the 111.00 and 111.44 resistance levels.

USDJPY-20-08-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.31 110.39 110.44 110.52 110.57 110.65 110.70
WEEKLY 108.59 109.35 109.92 110.68 111.25 112.01 112.58
MONTHLY 107.50 108.89 110.39 111.78 113.28 114.67 116.17

EURUSD

The prospects of the US and China moving back to negotiating table triggered a corrective rally in the EURUSD pair in the second half of the last week. The pair is now approaching a crucial resistance zone near 1.1480-1.1500. There is also a major bearish trend line in place with resistance near 1.1485 on the same chart. On the downside, supports are aligned at 1.1400, 1.1365 and 1.1310.

EURUSD-20-08-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1427 1.1431 1.1434 1.1438 1.1441 1.1445 1.1448
WEEKLY 1.1195 1.1247 1.1343 1.1395 1.1491 1.1543 1.1639
MONTHLY 1.1360 1.1466 1.1578 1.1684 1.1796 1.1902 1.2014

GBPUSD

The pair set off the week on a weaker note, consolidating last week’s rebound near the midpoint of the 1.27 handle, as the markets remain cautious heading into the releases of the first of a series of notices on how to deal with a hard Brexit later this week. The short-term picture for the GBPUSD pair remains neutral-to-bearish bias. Supports is aligned at 1.2700 1.2665 and 1.2620 while resistance levels are seen at 1.2760, 1.2790 and 1.2825.

GBPUSD-20-08-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2732 1.2737 1.2741 1.2746 1.2750 1.2755 1.2759
WEEKLY 1.2503 1.2583 1.2668 1.2748 1.2833 1.2913 1.2998
MONTHLY 1.2527 1.2742 1.2934 1.3149 1.3341 1.3556 1.3748

GOLD

Intraday bias for gold is bullish in the short to medium term with immediate resistance level at 1187.58. A turn above there will expose the 1190.00 level. Further out, resistance stands at the 1200.00 level. Conversely, supports resides at 1176.01 where a break will turn attention to the 1160 level.

GOLD-20-08-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1188.54 1189.07 1189.74 1190.27 1190.94 1191.47 1192.14
WEEKLY 1110.14 1135.77 1156.14 1181.77 1202.14 1227.77 1248.14
MONTHLY 1152.24 1181.97 1202.84 1232.57 1253.44 1283.17 1304.04