USDJPY

The pair oscillated in a narrow trading band through the Asian session on Monday and was seen consolidating its recent gains to 2-1/2-month tops. A follow-through buying beyond the mentioned handle can see the pair move to its next major hurdle near mid-112.00s, above which the momentum could further get extended towards reclaiming the 113.00 level. On the flip side, any meaningful corrective slide now seems to find immediate support near the very important 200-day SMA, around the 111.35-30 region, which if broken might accelerate the slide back towards challenging the 111.00 handle.

USDJPY_04_03_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 111.55 111.64 111.80 111.88 112.04 112.12 112.28
WEEKLY 109.10 109.73 110.82 111.45 112.54 113.17 114.26
MONTHLY 106.79 107.76 109.56 110.53 112.34 113.30 115.11

EURUSD

The euro is under slight downside pressure against the US dollar currency on Monday, with the pair trading towards the lower end of its seven-day trading range. The EURUSD pair is intraday bearish while trading below the 1.1380 level, key support is found at the 1.1337 and 1.1300 levels. If the EURUSD pair trades above the 1.1380 level, key technical resistance is found at the 1.1400 and 1.1420 levels.

EURUSD_04_03_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1340 1.1355 1.1365 1.1380 1.1389 1.1405 1.1414
WEEKLY 1.1228 1.1276 1.1326 1.1374 1.1424 1.1472 1.1522
MONTHLY 1.0988 1.1111 1.1242 1.1365 1.1495 1.1619 1.1749

GBPUSD

The British pound has recovered back towards the pivotal 1.3230 level against the greenback in early Monday trade, after briefly falling below the 1.3200 support level. The GBPUSD pair retains an intraday bullish bias while trading above the 1.3230 level, key technical resistance is found at the 1.3300 and 1.3350 levels. If the GBPUSD pair trades below the 1.3230 level, sellers may test towards the 1.3180 and 1.3155 support levels.

GBPUSD_04_03_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3129 1.3165 1.3202 1.3238 1.3275 1.3311 1.3348
WEEKLY 1.2737 1.2889 1.3047 1.3199 1.3357 1.3509 1.3667
MONTHLY 1.2333 1.2553 1.2909 1.3129 1.3485 1.3705 1.4061

GOLD

Gold struggled to register any meaningful recovery and remained within striking distance of over one-month lows, set on Friday. Any subsequent slide is likely to find some support near the 1286 horizontal level, below which the corrective slide could further get extended towards challenging the 1280 region en-route 1276 area. On the flip side, the 1300 handle now becomes immediate strong resistance, which if cleared might trigger a short-covering bounce and towards 1315 supply zone.

GOLD_04_03_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1291.85 1293.15 1294.75 1296.05 1297.65 1298.95 1300.55
WEEKLY 1238.44 1264.87 1282.04 1308.47 1325.64 1352.07 1369.24
MONTHLY 1252.31 1278.43 1297.26 1323.53 1342.36 1368.63 1387.46