USD/JPY

USD/JPY bounces off 105.18 to 105.30, following the early-day downbeat move, amid the initial hour of the European open on Friday. The pair recently gained as markets spot difference in US President Trump’s comments versus reality on the coronavirus (COVID-19) relief bill. USD/JPY could find support at 105.20 and a fall through may take it further to the support level of 105.09. On the other side, resistance could stand at 105.40, and a rise through may take it to the next resistance level of 105.49.
USDJPY-16-10-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 104.76 104.92 105.18 105.34 105.59 105.76 106.01
1 WEEK 104.38 104.84 105.22 105.67 106.05 106.50 106.89
1 MONTH 101.55 102.77 104.10 105.33 106.66 107.89 109.22

EURUSD

EUR/USD looks south as coronavirus growth weakens risk appetite while the US-German bond yield spreads are rising in a USD-positive manner. The pair has declined by 1% so far this week and could extend losses unless the US data disappoints expectations. EUR/USD could find support at 1.1686 and a fall through may take it further to the support level of 1.1669. On the other side, resistance could stand at 1.1711, and a rise through may take it to the next resistance level of 1.1725.
EURUSD-16-10-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1605 1.1646 1.1676 1.1718 1.1748 1.1790 1.1820
1 WEEK 1.1618 1.1662 1.1744 1.1788 1.1869 1.1914 1.1995
1 MONTH 1.1151 1.1382 1.1550 1.1781 1.1949 1.2180 1.2348

GBPUSD

GBP/USD remains pressured under 1.2900 in the EU open. The UK-EU ready to discuss Brexit even as the October deadline expired. UK PM Johnson to discuss handling, the future path of negotiations. London to witness tough lockdown measures from mid-Friday. US consumer-centric data eyed. GBP/USD could find support at 1.2863 and a fall through may take it further to the support level of 1.2844. On the other side, resistance could stand at 1.2906, and a rise through may take it to the next resistance level of 1.2923.
GBPUSD-16-10-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2718 1.2804 1.2859 1.2945 1.3000 1.3086 1.3141
1 WEEK 1.2705 1.2775 1.2911 1.2981 1.3117 1.3187 1.3323
1 MONTH 1.1761 1.2219 1.2567 1.3025 1.3374 1.3831 1.4180

GOLD

Gold trades in a narrow range above $1900 ahead of key US data. The spot fades upside momentum while stepping back from the intraday high of $1,910.72. Gold could find support at 1,897.60 and a fall through may take it further to the support level of 1,890.90. On the other side, resistance could stand at 1,908.20, and a rise through may take it to the next resistance level of 1,914.30.
Gold-16-10-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1876.16 1884.43 1896.66 1904.93 1917.16 1925.43 1937.66
1 WEEK 1830.24 1853.67 1889.94 1913.37 1949.64 1973.07 2009.34
1 MONTH 1681.24 1766.62 1829.89 1915.27 1978.54 2063.92 2127.19