USDJPY

The USDJPY pair moved slightly higher today after the Japanese trade deficit rose faster than expected. The pair remains within a narrow range. It is now trading at 110.87, which is slightly higher than the 42-day and 21-day EMAs. The TSI has remained between the 30 and 70 levels, which is a sign of consolidation. The pair could make some major moves in either direction in the medium-term.

USDJPY_20_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.04 110.25 110.42 110.62 110.79 111.00 111.17
WEEKLY 108.29 108.99 109.74 110.44 111.19 111.89 112.64
MONTHLY 100.87 102.92 105.90 107.95 110.93 112.98 115.96

EURUSD

After a major decline, the Euro found support near the 1.1250 level against the US Dollar. The pair formed a solid support base near 1.1250 and later started a decent rebound. The pair traded above the 1.1275 and 1.1300 resistance levels before correction lower. On the downside, there are many supports near the 1.1320 level and the broken trend line. The main support is near the 1.1315 level and the 50 hourly simple moving average. On the upside, the 1.1350 and 1.1360 levels are crucial hurdles for buyers. If there is a proper break above 1.1360, the pair could trade towards the 1.1400 level in the near term.

EURUSD_20_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1205 1.1240 1.1290 1.1324 1.1374 1.1408 1.1458
WEEKLY 1.1123 1.1178 1.1236 1.1291 1.1349 1.1404 1.1462
MONTHLY 1.1014 1.1151 1.1298 1.1435 1.1582 1.1719 1.1866

GBPUSD

The British pound has made a strong move higher against the US dollar, following dovish comments from Federal Reserve member Loretta Mester. A bullish inverted head and shoulders pattern is now visible on the four-hour time frame. The GBPUSD pair is bullish while trading above the 1.2940 level, key technical resistance is found at the 1.3095 and 1.3200 levels If the GBPUSD pair trades below the 1.3000 level, sellers may test towards the 1.2965 and 1.2940 levels.

GBPUSD_20_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2768 1.2832 1.2946 1.3010 1.3124 1.3188 1.3302
WEEKLY 1.2602 1.2687 1.2789 1.2874 1.2976 1.3061 1.3163
MONTHLY 1.1840 1.2139 1.2620 1.2919 1.3400 1.3699 1.4180

GOLD

The British pound has made a strong move higher against the US dollar, following dovish comments from Federal Reserve member Loretta Mester. A bullish inverted head and shoulders pattern is now visible on the four-hour time frame. The GBPUSD pair is bullish while trading above the 1.2940 level, key technical resistance is found at the 1.3095 and 1.3200 levels If the GBPUSD pair trades below the 1.3000 level, sellers may test towards the 1.2965 and 1.2940 levels.

GOLD_20_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1309.54 1316.67 1330.74 1337.87 1351.94 1359.07 1373.14
WEEKLY 1288.16 1296.43 1309.26 1317.53 1330.36 1338.63 1351.46
MONTHLY 1244.50 1263.00 1294.10 1312.60 1343.70 1362.20 1393.30