USDJPY

USD/JPY is currently trading at 110.22 meeting the top of the rising channel around 110.20 as US stock markets maintain a lukewarm bid and US data turns positive. Global trade is back on track following the latest developments in the USMCA and phase-one trade deal. USD/JPY is expected to find support at 109.90 and a fall through could take it to the support level of 109.62. On the other side, resistance stands at 110.37 and a rise through could take it to the level of 110.66.

USDJPY-17-01-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 109.62 109.75 109.96 110.10 110.31 110.45 110.66
1 WEEK 106.12 106.88 108.18 108.94 110.24 111.00 112.30
1 MONTH 106.80 107.61 108.11 108.92 109.42 110.23 110.73

EURUSD

EUR/USD struggles to benefit from upbeat Chinese data amid trade concerns. The pair is trading below 1.1150 amid rising EU-US trade tensions. The EU’s Hogan said Trump is obsessed with the trade deficit. Upbeat Chinese data is supporting broader markets, weighing on the safe-haven dollar. EUR/USD is expected to find support at 1.1125 and a fall through could take it further to the support level of 1.1102. On the other side, resistance stands at 1.1148 and a rise through could take it to the next resistance level of 1.1164.

EURUSD-17-01-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1075 1.1102 1.1120 1.1146 1.1164 1.1190 1.1208
1 WEEK 1.0945 1.1015 1.1068 1.1138 1.1191 1.1261 1.1314
1 MONTH 1.0825 1.0914 1.1063 1.1152 1.1301 1.1390 1.1539

GBPUSD

GBP/USD extends its gains ahead of UK retail sales. Cable is trading closer to 1.31 as the US dollar retreats. Investors are focused on UK retail sales figures which feed into the upcoming BOE decision. GBP/USD is expected to find support at 1.3054 and a fall through could take it to the next support level of 1.3029. On the other side, resistance stands at 1.3104 and a rise through could take it to the next resistance level of 1.3124.

GBPUSD-17-01-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2983 1.3005 1.3041 1.3062 1.3098 1.3119 1.3155
1 WEEK 1.2779 1.2896 1.2979 1.3096 1.3179 1.3296 1.3379
1 MONTH 1.2312 1.2604 1.2932 1.3224 1.3552 1.3844 1.4172

GOLD

Gold prices seesaw near $1,555 during Friday’s early session. The yellow metal dropped the previous day, closed below 10-day SMA, after the US dollar’s (USD) broad gains and market’s rush to riskier assets on the back of improved trade sentiment. Gold is expected to find support at 1,545.80 and a fall through could take it to the support level of 1,537.60. On the other side, resistance stands at 1,560.70, and a rise through could take it to the level of 1,567.60.

Gold-17-01-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1537.61 1542.88 1547.61 1552.88 1557.61 1562.88 1567.61
1 WEEK 1457.34 1499.17 1529.64 1571.47 1601.94 1643.77 1674.24
1 MONTH 1409.74 1434.77 1478.94 1503.97 1548.14 1573.17 1617.34