USDJPY

USD/JPY stretched its downward trajectory forward as the US Dollar remained on back-foot against most of its counterparts following the Federal Reserve meeting. Also weighing on the prices is risk aversion due to Brexit and the US-China trade deal, boosting the JPY’s safe haven status. USD/JPY is expected to find support at 110.21, and a fall through could take it to the support level of 110.00. On the other side, resistance stands at 110.70, and a rise through could take it to the level of 111.00.

USDJPY_21_03_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.09 109.81 110.25 110.97 111.40 112.13 112.56
WEEKLY 109.90 110.39 110.93 111.42 111.96 112.45 112.99
MONTHLY 106.80 107.76 109.58 110.54 112.36 113.32 115.14

EURUSD

EUR/USD jumped from 1.1355 to 1.1447, reaching the strongest level since February 4, as FOMC staff projections signalled no rate hike for 2019. The pair is advancing for the fifth consecutive session so far today, coming under some selling pressure and currently trading at 1.1406. EUR/USD is expected to find support at 1.1365 and a fall through could take it further to the support level of 1.1341. On the other side, resistance stands at 1.1436, and a rise through could take it to the next resistance level of 1.1464.

EURUSD_21_03_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1246 1.1290 1.1359 1.1404 1.1473 1.1518 1.1587
WEEKLY 1.1124 1.1172 1.1249 1.1297 1.1374 1.1422 1.1499
MONTHLY 1.0982 1.1107 1.1239 1.1364 1.1496 1.1621 1.1753

GBPUSD

GBP/USD trades around 1.3153, down from the highs of 1.3227 seen early in the day. The pair advanced on the Fed decision but is weighed down by Brexit. Upcoming UK retail sales, BOE meeting and second-tier data from the US could continue the pullback. GBP/USD is expected to find support at 1.3121 and a fall through could take it to the next support level of 1.3100. On the other side, resistance stands at 1.3211, and a rise through could take it to the next resistance level of 1.3245.

GBPUSD_21_03_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3020 1.3084 1.3144 1.3207 1.3267 1.3330 1.3390
WEEKLY 1.2595 1.2772 1.3031 1.3208 1.3467 1.3644 1.3903
MONTHLY 1.2328 1.2550 1.2907 1.3129 1.3486 1.3708 1.4065

GOLD

Gold is taking the bids around a 3-week high of $1320 during early Thursday, having successfully breached 50-day SMA figure of $1305.60, amid a dovish Fed outcome. Gold is expected to find support at the level of 1,312.95 and a fall through could take it to 1,308.70 level. On the other side, resistance stands at 1,322.74, and a rise through could take it to the next resistance level of 1,327.28.

GOLD_21_03_2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1275.04 1286.57 1294.14 1305.67 1313.24 1324.77 1332.34
WEEKLY 1270.80 1280.70 1291.80 1301.70 1312.80 1322.70 1333.80
MONTHLY 1252.16 1278.43 1297.26 1323.53 1342.36 1368.63 1387.46