USDJPY

The USDJPY is seen to be in consolidation building a triangle pattern and is challenging the support and resistance trend lines. A clear move above 110 will target next resistance which lies at 110.14 and a rise through could take it to the next resistance level of 110.44. The pair is expected to find support at 108.99, and a fall through here could take it to the next support level of 108.75.

USDJPY-14-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.14 109.21 109.27 109.34 109.40 109.47 109.53
WEEKLY 107.54 108.15 108.78 109.39 110.02 110.63 111.26
MONTHLY 102.92 104.28 106.81 108.17 110.70 112.06 114.59

EURUSD

The pair is currently trading in the 1.1960-1.1990 resistance zone after breaking the 1.1897 resistance level and is expected to find support at 1.1815, and a fall through could take it further to the support level of 1.1786. Intraday bias in EURUSD is seen to be bullish targeting 1.2000 area if the intraday resistance at 1.19750 is broken.

EURUSD-14-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1928 1.1934 1.1944 1.1950 1.1960 1.1966 1.1976
WEEKLY 1.1864 1.2035 1.2135 1.2306 1.2406 1.2577 1.2677
MONTHLY 1.1590 1.1822 1.1950 1.2182 1.2310 1.2542 1.2670

GBPUSD

Monday should be a quiet session with little on the economic calendar, but Tuesday will be bringing earnings figures for the UK, and GBP bulls will be hoping that the report beats the forecast reading of 3.1% (prev. 2.8%). Resistance remains at 1.3630, and a rise through could take it to the next resistance level of 1.3651. The pair is expected to find support at 1.3495, and a fall through could take it to the next support level of 1.3451.

GBPUSD-14-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3529 1.3534 1.3542 1.3547 1.3555 1.3560 1.3568
WEEKLY 1.3307 1.3384 1.3464 1.3541 1.3621 1.3698 1.3778
MONTHLY 1.2866 1.3290 1.3531 1.3955 1.4196 1.4620 1.4861

GOLD

Gold kicked off the new week lifting into 1322.00 as the US Dollar backs away from recent highs and US Treasury yields relax, but gold fiends couldn’t get the wheels turning and the precious metal is sinking back to last week’s close and back under 1320. The general outlook is bullish in the short to medium term. The Immediate support is seen at 1320 with further move down to target 1315 level. Immediate resistance is seen at 1326.

GOLD-14-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1316.40 1317.20 1318.70 1319.50 1321.00 1321.80 1323.30
WEEKLY 1284.40 1294.40 1306.30 1316.30 1328.20 1338.20 1350.10
MONTHLY 1239.60 1274.60 1295.40 1330.40 1351.20 1386.20 1407.00