USDJPY

The pair is expected to follow a downtrend. USDJPY breeched yesterdays immediate support at 109.30, and is continuing to drop, now trading around 108.80. On the other side expected resistance stands at 109.00, and a rise through could take it to the next resistance level of 109.80.

USDJPY-29-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.69 108.97 109.18 109.46 109.67 109.95 110.16
WEEKLY 105.98 107.47 108.42 109.91 110.86 112.35 113.30
MONTHLY 102.92 104.28 106.81 108.17 110.70 112.06 114.59

EURUSD

The Euro is trading down at around 1.1590 against the US Dollar as the Italian as political uncertainty in Italy and Spain remained elevated in Europe and the ECB officials are scheduled to deliver speeches today. Sustained weakness below the 1.1600 handle is likely to pave the way for an extension of the pair’s ongoing bearish trajectory, initially towards 1.1555 intermediate support en-route near the key 1.1500 psychological mark. On the flipside, any meaningful up-move above the 1.1600 region might find resistance near the 1.1680-75 region.

EURUSD-29-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1460 1.1534 1.1580 1.1654 1.1700 1.1774 1.1820
WEEKLY 1.1404 1.1525 1.1587 1.1708 1.1770 1.1891 1.1953
MONTHLY 1.1590 1.1822 1.1950 1.2182 1.2310 1.2542 1.2670

GBPUSD

The GBPUSD is under pressure falling to trade around 1.3290 after breaking the 1.3300 support handle. Currently the pair is targeting 1.3235 if the bears dominate. Intraday resistance is first seen at 1.3330 level and a move above here will target 1.3360 region. On the flip side, On the upside, the 1.3335-40 area is likely to act as an immediate hurdle and any subsequent up-move beyond the mentioned hurdle is likely to confront stiff resistance near the 1.3370-75 region.

GBPUSD-29-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3249 1.3273 1.3293 1.3317 1.3337 1.3361 1.3381
WEEKLY 1.3035 1.3165 1.3231 1.3361 1.3427 1.3557 1.3623
MONTHLY 1.2866 1.3290 1.3531 1.3955 1.4196 1.4620 1.4861

GOLD

The political angst in Europe and uncertainties related to the US and trade relations with China supports the case for the upside in the safe haven metal, but the dollar is trading within a firmly placed bullish correction and keeps a lid on recovery attempts in gold. Current price trend looks downward with a move below 1286 signaling a resumption of a downtrend. Immediate resistance is still seen at 1300.60 level and a further move up will see 1309 resistance next. Meanwhile, support is lined up at 1293 ,1287 and 1282.

GOLD-29-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1289.96 1292.33 1294.96 1297.33 1299.96 1302.33 1304.96
WEEKLY 1259.86 1270.53 1285.86 1296.53 1311.86 1322.53 1337.86
MONTHLY 1239.60 1274.60 1295.40 1330.40 1351.20 1386.20 1407.00