USDJPY

USD/JPY retreats farther below 111.00 mark, erasing a major part of yesterday’s up-move, as geopolitical tensions underpinned JPY’s safe-haven demand and prompted fresh selling. USD/JPY is expected to find support at 110.65, and a fall through could take it to the support level of 110.40. On the other side, resistance stands at 111.05, and a rise through could take it to the level of 111.23.

USDJPY_26_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.85 110.12 110.41 110.68 110.97 111.24 111.53
WEEKLY 108.29 108.99 109.74 110.44 111.19 111.89 111.64
MONTHLY 100.87 102.92 105.90 107.95 110.93 112.98 115.96

EURUSD

EUR/USD is extending the consolidative theme in the upper end of the current range around 1.1355 amidst thin trade conditions and scarce volatility. As usual, the exclusive driver behind the better mood in the riskier assets remains the rising optimism on the US-Sino trade negotiations, but for today all the attention will be on the testimony by Chief Powell. EUR/USD is expected to find support at 1.1336 and a fall through could take it further to the support level of 1.1314. On the other side, resistance stands at 1.1372, and a rise through could take it to the next resistance level of 1.1388.

EURUSD_26_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1306 1.1321 1.1342 1.1357 1.1378 1.1393 1.1415
WEEKLY 1.1188 1.1232 1.1287 1.1331 1.1386 1.1430 1.1485
MONTHLY 1.1014 1.1151 1.1298 1.1435 1.1582 1.1719 1.1866

GBPUSD

GBP/USD hits fresh monthly tops, just above mid-1.3100s ahead of BoE inflation report hearings but receding fears of a no-deal Brexit continue to underpin the British Pound. GBP/USD is expected to find support at 1.3075 and a fall through could take it to the next support level of 1.3040. On the other side, resistance stands at 1.3173, and a rise through could take it to the next resistance level of 1.3200.

GBPUSD_26_02_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2964 1.3008 1.3068 1.3111 1.3171 1.3214 1.3275
WEEKLY 1.2707 1.2799 1.2926 1.3018 1.3145 1.3237 1.3364
MONTHLY 1.1840 1.2139 1.2620 1.2919 1.3400 1.3699 1.4180

GOLD

Gold continues to trade below $1,330 – currently at $1,325.00 as risk-on mood weighs on safe-havens. Despite this recent drop, however, the precious metal’s price action doesn’t hint at a sustained movement in either direction. Gold is expected to find support at the level of 1,317.70 and a fall through could take it to 1,311.90 level. On the other side, resistance stands at 1,332.85, and a rise through could take it to the next resistance level of 1,337.32.

GOLD_26_02_2019

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1318.64 1322.97 1326.24 1330.57 1333.84 1338.17 1341.44
WEEKLY 1294.30 1308.80 1320.80 1335.30 1347.30 1361.80 1373.80
MONTHLY 1244.50 1263.00 1294.10 1312.60 1343.70 1362.20 1393.30