USDJPY

USD/JPY dropped to fresh weekly lows during the early session on Thursday, albeit has managed to recover few pips thereafter. The pair failed to capitalize on the previous session’s intraday rebound and remained on the defensive amid rising fears of a further escalation in the US-China trade tensions. USD/JPY is expected to find support at 108.11 and a fall through could take it to the support level of 107.95. On the other side, resistance stands at 108.40, and a rise through could take it to the level of 108.55.

USDJPY-13-06-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.92 108.06 108.27 108.42 108.63 108.78 108.99
WEEKLY 106.99 107.40 107.80 108.21 108.61 109.02 109.42
MONTHLY 103.74 106.01 107.15 109.42 110.56 112.83 113.97

EURUSD

EUR/USD recovers ground lost and approaches 1.1300, as US-China trade dispute remains in centre stage. The broad-based risk-appetite trends and USD-dynamics should dictate the sentiment surrounding the European currency for the time being. EUR/USD is expected to find support at 1.1273 and a fall through could take it further to the support level of 1.1250. On the other side, resistance stands at 1.1306, and a rise through could take it to the next resistance level of 1.1328.

EURUSD-13-06-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1209 1.1246 1.1270 1.1307 1.1331 1.1368 1.1392
WEEKLY 1.1016 1.1086 1.1209 1.1279 1.1402 1.1472 1.1595
MONTHLY 1.0936 1.1022 1.1095 1.1181 1.1254 1.1340 1.1413

GBPUSD

GBP/USD remains on a back foot around 1.2665 as traders await the first round of voting to decide the new Tory leader. Given the absence of major data on the economic calendar, investors may emphasize political plays to determine near-term trade direction. GBP/USD is expected to find support at 1.2650 and a fall through could take it to the next support level of 1.2635. On the other side, resistance stands at 1.2688, and a rise through could take it to the next resistance level of 1.2707.

GBPUSD-13-06-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2586 1.2634 1.2663 1.2711 1.2740 1.2788 1.2817
WEEKLY 1.2487 1.2548 1.2642 1.2703 1.2797 1.2858 1.2952
MONTHLY 1.1782 1.2170 1.2401 1.2789 1.3020 1.3408 1.3639

GOLD

Gold rises towards $1,340 amid fresh bout of risk aversion, as the US-China trade stalemate keeps the risk sentiment on edge. Given the absence of major data, investors are more likely to concentrate on political events/developments for fresh clues. Gold is expected to find support at 1,331.90 and a fall through could take it to the support level of 1,327.50. On the other side, resistance stands at 1,341.50, and a rise through could take it to the level of 1,346.20.

Gold-13-06-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1318.39 1324.12 1330.69 1336.42 1342.99 1348.72 1355.29
WEEKLY 1275.54 1291.27 1316.24 1331.97 1356.94 1372.67 1397.64
MONTHLY 1240.84 1254.07 1279.94 1293.17 1319.04 1332.27 1358.14