USD/JPY

USD/JPY was rising overnight from 106.40 to 107.23 which was a one-month high with a bounce in US stocks and a recovery in US data, a welcome surprise following the disappointment in the IS ISM manufacturing data. USD/JPY has been offered as the pair consolidates ahead of the key showdown tonight in the US session. USD/JPY is expected to find support at 106.68 and a fall through could take it to the support level of 106.51. On the other side, resistance stands at 107.21 and a rise through could take it to the level of 107.43.

USDJPY-06-09-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 105.64 105.99 106.54 106.88 107.43 107.77 108.32
1 WEEK 102.71 103.58 104.95 105.82 107.19 108.06 109.43
1 MONTH 99.19 101.82 104.07 106.70 108.95 111.58 113.83

EURUSD

EUR/USD is trading below 1.1050, steady. German industrial production disappointed with a drop of 0.6%. The focus shifts to the all-important Non-Farm Payrolls out as the market mood remains upbeat amid optimism about trade. EUR/USD is expected to find support at 1.1011 and a fall through could take it further to the support level of 1.0988. On the other side, resistance stands at 1.1064 and a rise through could take it to the next resistance level of 1.1083.

EURUSD-06-09-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0939 1.0978 1.1006 1.1045 1.1073 1.1112 1.1140
1 WEEK 1.0711 1.0837 1.0914 1.1040 1.1117 1.1243 1.1320
1 MONTH 1.0597 1.0780 1.0885 1.1068 1.1173 1.1356 1.1461

GBPUSD

GBP/USD is trading above 1.2300 amid speculation that the opposition would like to hold elections on October 29, potentially forcing PM Johnson to ask for a Brexit extension. The House of Lords is set to approve bill to prevent a no-deal Brexit today. GBP/USD is expected to find support at 1.2267 and a fall through could take it to the next support level of 1.2228. On the other side, resistance stands at 1.2376, and a rise through could take it to the next resistance level of 1.2408.

GBPUSD-06-09-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2097 1.2154 1.2239 1.2296 1.2381 1.2438 1.2524
1 WEEK 1.1925 1.2032 1.2095 1.2203 1.2265 1.2372 1.2435
1 MONTH 1.1719 1.1867 1.2013 1.2161 1.2307 1.2455 1.2601

GOLD

Gold’s recovery from two-week lows has stalled around $1,520 as an uptick in the US bond yields is likely hurting the zero-yielding yellow metal. Gold now is trading back in the lows. Gold is expected to find support at 1,505.50 and a fall through could take it to the support level of 1,500.00. On the other side, resistance stands at 1,519.50, and a rise through could take it to the level of 1,525.30.

Gold-06-09-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1461.60 1488.15 1507.40 1533.95 1553.20 1579.75 1599.00
1 WEEK 1475.60 1500.60 1515.00 1540.00 1554.40 1579.40 1593.80
1 MONTH 1286.44 1349.27 1439.34 1502.17 1592.24 1655.07 1745.14