USD/JPY

USD/JPY reversed an early dip to near one-week lows and is currently placed near the top end of its daily trading range, just above mid-108.00s. A modest USD rebound helped bounce off lows ahead of the latest FOMC meeting minutes. USD/JPY is expected to find support at 108.41 and a fall through could take it to the support level of 108.26. On the other side, resistance stands at 108.62 and a rise through could take it to the level of 108.78.

USDJPY-20-11-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 107.84 108.11 108.29 108.56 108.73 109.01 109.18
1 WEEK 107.17 107.71 108.23 108.77 109.29 109.83 110.35
1 MONTH 103.76 105.15 107.62 107.94 109.40 110.76 112.22

EURUSD

EUR/USD’s recovery rally has likely stalled and today’s close will decide the next move. The pair is trading above 1.1050, within familiar ranges. The US Senate’s support of Hong Kong protesters has aggravated tensions with China. The Federal Reserve’s meeting minutes are eyed. EUR/USD is expected to find support at 1.1058 and a fall through could take it further to the support level of 1.1042. On the other side, resistance stands at 1.1081 and a rise through could take it to the next resistance level of 1.1096.

EURUSD-20-11-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1045 1.1054 1.1066 1.1075 1.1087 1.1096 1.1108
1 WEEK 1.0937 1.0963 1.1007 1.1033 1.1077 1.1103 1.1147
1 MONTH 1.0659 1.0769 1.0961 1.1071 1.1263 1.1373 1.1565

GBPUSD

GBP/USD declines for the second consecutive day amid doubts over the Tory leader’s public favour after the ITV debate. Broad USD strength offers additional weakness to the pair. GBP/USD is expected to find support at 1.2889 and a fall through could take it to the next support level of 1.2865. On the other side, resistance stands at 1.2931 and a rise through could take it to the next resistance level of 1.2955.

GBPUSD-20-11-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2841 1.2876 1.2902 1.2936 1.2962 1.2996 1.3022
1 WEEK 1.2670 1.2724 1.2813 1.2867 1.2956 1.3010 1.3099
1 MONTH 1.1601 1.1898 1.2420 1.2717 1.3239 1.3536 1.4058

GOLD

Gold is having a tough time posting gains despite the renewed political tensions between the US and China. The yellow metal is currently trading at $1,476 per Oz, having hit a high of $1,477.45 in the hour. China’s rate cut has also failed to put a bid under Gold. Gold is expected to find support at 1,471.40 and a fall through could take it to the support level of 1,467.20. On the other side, resistance stands at 1,479.20, and a rise through could take it to the level of 1,482.50.

Gold-20-11-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1457.61 1461.38 1468.16 1471.93 1478.71 1482.48 1489.26
1 WEEK 1422.00 1434.10 1451.30 1463.40 1480.60 1492.70 1509.90
1 MONTH 1417.14 1441.07 1477.94 1501.87 1538.74 1562.67 1599.54