USDJPY

USD/JPY reached the 108.80 level, with the yen falling against the U.S. dollar as global equities recovered on Monday by hopes that Washington and Beijing may be inching towards a trade deal. USD/JPY is expected to find support at 108.04, and a fall through could take it to the support level of 107.54. On the other side, resistance stands at 109.30, and a rise through could take it to the level of 109.63.

USDJPY-08-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.47 107.75 108.19 108.47 108.91 109.19 109.64
WEEKLY 100.06 102.53 105.53 108.00 111.00 113.47 116.47
MONTHLY 103.83 106.69 108.14 111.00 112.45 115.31 116.76

EURUSD

EUR/USD dipped into the 1.1450 region once again in today’s early session, after peaking near 1.1485. As the yield differentials could drop further in favor of the EUR, courtesy of dovish Fed expectations, the path of least resistance for the EUR/USD seems to be on the higher side. EUR/USD is expected to find support at 1.1420 and a fall through could take it further to the support level of 1.1390. On the other side, resistance stands at 1.1446, and a rise through could take it to the next resistance level of 1.1485. 

EURUSD-08-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1347 1.1376 1.1427 1.1456 1.1507 1.1536 1.1588
WEEKLY 1.1049 1.1179 1.1287 1.1417 1.1525 1.1655 1.1762
MONTHLY 1.1111 1.1189 1.1330 1.1408 1.1549 1.1627 1.1768

GBPUSD

GBP/USD is trading near 1.2777 ahead of Tuesday’s London market session, with the pound struggling to hold onto gains. Despite the broad-market dollar weakness pushed by a potentially-dovish Federal Reserve for 2019, Brexit concerns continued to trouble Sterling bidders as the UK’s parliamentary vote is set on January 14th. GBP/USD is expected to find support at 1.2720 and a fall through could take it to the next support level of 1.2688. On the other side, resistance stands at 1.2804, and a rise through could take it to the next resistance level of 1.2848.

GBPUSD-08-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2674 1.2698 1.2742 1.2766 1.2809 1.2834 1.2877
WEEKLY 1.2133 1.2286 1.2508 1.2661 1.2884 1.3036 1.3259
MONTHLY 1.2179 1.2328 1.2543 1.2692 1.2907 1.3056 1.3271

GOLD

Gold failed to cross the psychological hurdle of $1,300 on Friday and have reached a high of $1,295 yesterday, despite the drop in the US dollar. As of writing, gold is trading at $1,284.20 per Oz. Gold is expected to find support at the level of 1,277.75 and a fall through could take it to 1,269.25 level. On the other side, resistance stands at 1,288.68, and a rise through could take it to the next resistance level of 1,295.75.

Gold-08-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1271.61 1277.88 1283.96 1290.23 1296.31 1302.58 1308.66
WEEKLY 1254.30 1266.25 1276.45 1288.40 1298.60 1310.55 1320.75
MONTHLY 1183.20 1204.90 1243.10 1264.80 1303.00 1324.70 1362.90