USDJPY

The Federal Reserve increased interest rates for the second time and announced two further hikes later this year. The initial upswing in the US Dollar was replaced by concerns that higher rates may be detrimental and the safe-haven Yen gains. The pair is currently trading around 110.00 area with technical indicators showing a bearish trend targeting to breach immediate support zone at 109.94 area. Resistance IS seen at 110.50 and 110.75 respectively.

USDJPY-14-06-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.19 109.64 109.94 110.39 110.69 111.14 111.44
WEEKLY 107.97 108.58 109.06 109.67 110.15 110.76 111.24
MONTHLY 104.19 106.15 107.48 109.44 110.77 112.73 114.06

EURUSD

The pair is stable ahead of the ECB decision where Draghi may announce the path to exiting the QE program. A clear break above 1.1855 will target 1.20 area. Immediate support is seen at 1.1765 then followed by 1.1720, and a break below here might indicate further downside movement toward the next support level of 1.1700.

EURUSD-14-06-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1678 1.1704 1.1753 1.1779 1.1828 1.1854 1.1903
WEEKLY 1.1477 1.1565 1.1666 1.1754 1.1855 1.1943 1.2044
MONTHLY 1.0858 1.1183 1.1437 1.1762 1.2016 1.2341 1.2595

GBPUSD

GBPUSD recovers after dipping to 1.3307 and intraday bias is turned neutral again. Below 1.3307 will reaffirm the case that corrective rise from 1.3203 has completed. Support is still seen at 1.3330 area and a break here will target 1.3300. On the flipside, upside should be limited by 1.3617 resistance to bring reversal.

GBPUSD-14-06-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3254 1.3282 1.3332 1.3360 1.3410 1.3438 1.3488
WEEKLY 1.3134 1.3214 1.3313 1.3393 1.3492 1.3572 1.3671
MONTHLY 1.2507 1.2856 1.3078 1.3427 1.3649 1.3998 1.4220

GOLD

Gold could finally find acceptance above the 1300 mark as the yellow metal posted gains yesterday despite hawkish Fed rate hike. Key support level is seen at 1260 with immediate resistance at 1307.57 The 1300 round figure mark now seems to protect the immediate downside amid reviving safe-haven demand and weaker tone surrounding the US Dollar.

Gold-14-06-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1288.26 1291.93 1297.46 1301.13 1306.66 1310.33 1315.86
WEEKLY 1278.16 1284.03 1291.06 1296.93 1303.96 1309.83 1316.86
MONTHLY 1248.86 1267.03 1283.56 1301.73 1318.26 1336.43 1352.96