USDJPY

USD/JPY drops sharply after failing to break through 110.02 short term top. Consolidation from there is extending with another falling leg. USD/JPY is expected to find support at 109.18, and a fall through could take it to the next support level of 108.99. On the other side expected resistance stands at 110.02, previous session’s high, and a rise through could take it to the next resistance level of 110.50.

USDJPYH-11-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 108.51 108.92 109.18 109.59 109.85 110.26 110.52
WEEKLY 107.10 107.87 108.49 109.26 109.88 110.65 111.27
MONTHLY 102.92 104.28 106.81 108.17 110.70 112.06 114.59

EURUSD

The Euro managed to score the largest one-day gain in six weeks against the US Dollar but the dominant trend bias continues to favor on-going weakness. EUR/USD is expected to find support at 1.1843, and a fall through could take it further to the support level of 1.1803. On the other side resistance stands at 1.1947, and a rise through could take it to the next resistance level of 1.2006.

EURUSDH-11-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1757 1.1801 1.1858 1.1902 1.1959 1.2003 1.2060
WEEKLY 1.1637 1.1774 1.1867 1.2004 1.2097 1.2234 1.2327
MONTHLY 1.1590 1.1822 1.1950 1.2182 1.2310 1.2542 1.2670

GBPUSD

In response to this Thursday’s rate decision, GBP/USD moved back down to the support zone that’s been holding the lows in the pair over the past week, but bounced back, currently trading at 1.3529. The pair is expected to find support at 1.3459, and a fall through could take it to the next support level of 1.3389. On the other side resistance stands at 1.3618, and a rise through could take it to the next resistance level of 1.3666.

GBPUSDH-11-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3290 1.3375 1.3448 1.3533 1.3606 1.3691 1.3764
WEEKLY 1.3107 1.3297 1.3415 1.3605 1.3723 1.3913 1.4031
MONTHLY 1.2866 1.3290 1.3531 1.3955 1.4196 1.4620 1.4861

GOLD

The weaker than expected inflation reading pushed the US dollar to the downside, and the yellow metal managed to peak at 1322.9 before rebounding to 1319.55 that is currently trading. Gold is expected to find support at 1310.70, and a fall through could take it to the next support level of 1306.10. On the other side resistance stands at 1323.00, and a rise through could take it to the next resistance level of 1330.15.

GOLDH-11-05-2018

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1301.70 1306.30 1313.80 1318.40 1325.90 1330.50 1338.00
WEEKLY 1295.74 1299.57 1306.14 1309.97 1316.54 1320.37 1326.94
MONTHLY 1239.60 1274.60 1295.40 1330.40 1351.20 1386.20 1407.00