USD/JPY

USD/JPY has declined to 109.85 following the release of Japan’s preliminary fourth quarter (Q4) GDP data in Monday’s early trading. The market players seem to emphasize more on the qualitative catalysts than the data as far as the Japanese yen is concerned. USD/JPY is expected to find support at 109.73 and a fall through could take it to the support level of 109.60. On the other side, resistance stands at 109.89 and a rise through could take it to the level of 110.00.

USDJPY-17-02-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 109.60 109.68 109.73 109.81 109.87 109.94 110.00
1 WEEK 108.92 109.24 109.50 109.82 110.08 110.40 110.66
1 MONTH 104.60 106.12 107.26 108.78 109.92 111.44 112.58

EURUSD

EUR/USD is trading below 1.0850 at 1.0836, just above the lowest since April 2017. The pair hovers around the 34-months lows amid growth concerns. Also, concerns about eurozone growth are weighing on the common currency. Markets are watching coronavirus developments. EUR/USD is expected to find support at 1.0825 and a fall through could take it further to the support level of 1.0800. On the other side, resistance stands at 1.0854 and a rise through could take it to the next resistance level of 1.0873.

EURUSD-17-02-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0824 1.0829 1.0835 1.0840 1.0846 1.0851 1.0857
1 WEEK 1.0656 1.0742 1.0787 1.0873 1.0918 1.1004 1.1049
1 MONTH 1.0747 1.0869 1.0982 1.1104 1.1217 1.1339 1.1452

GBPUSD

GBP/USD is trading around 1.3050, little-changed. The French foreign minister warned of acrimonious Brexit talks as the UK’s chief negotiator is laying down a tough stance. GBP/USD is expected to find support at 1.3008 and a fall through could take it to the next support level of 1.2986. On the other side, resistance stands at 1.3068 and a rise through could take it to the next resistance level of 1.3080.

GBPUSD-17-02-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.3020 1.3027 1.3040 1.3047 1.3060 1.3067 1.3080
1 WEEK 1.2723 1.2797 1.2922 1.2996 1.3121 1.3195 1.3320
1 MONTH 1.2684 1.2818 1.3009 1.3143 1.3334 1.3468 1.3659

GOLD

Gold ran into $1,584, the top end of the pennant pattern – a series of lower highs and higher lows – created over the last 6 weeks. The yellow metal benefited for increased demand for safety. Gold is expected to find support at 1,578.80 and a fall through could take it to the support level of 1,574.80. On the other side, resistance stands at 1,585.90, and a rise through could take it to the level of 1,588.10.

Gold-17-02-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1581.59 1582.52 1584.39 1585.32 1587.19 1588.12 1589.99
1 WEEK 1546.94 1553.97 1568.34 1575.37 1589.74 1596.77 1611.14
1 MONTH 1437.04 1478.37 1530.64 1571.97 1624.24 1665.57 1717.84