USDJPY

USD/JPY extends the retreat from 112.86 highs and prints 6-day lows near the midpoint of the 112 handle, as the Yen remains underpinned amid risk-off market profile, despite Japan’s downward revision of GDP forecasts. Support stands at 112.40 and a fall through could take it to the next support level of 112.00. On the other side resistance stands at the aimed 112.90, and a rise through could challenge 113.20 resistance level.

USDJPY-18-12-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 111.66 112.17 112.50 113.01 113.34 113.85 114.18
WEEKLY 111.05 111.65 112.52 113.12 113.99 114.59 115.46
MONTHLY 110.53 111.42 112.44 113.33 114.35 115.24 116.26

EURUSD

EUR/USD Bears trapped, focus on German IFO. Support stands at 1.1320, and a break below might indicate further downside movement towards the next support level of 1.1290. On the other side resistance stands at 1.1360, and a rise through could take it to the next resistance level of 1.1380.

EURUSD-18-12-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1261 1.1282 1.1332 1.1337 1.1371 1.1392 1.1426
WEEKLY 1.1060 1.1164 1.1237 1.1341 1.1414 1.1518 1.1591
MONTHLY 1.0901 1.1058 1.1188 1.1345 1.1475 1.1632 1.1762

GBPUSD

GBP/USD drifting near 1.2600 as Brexit progress grinds to a halt. The pair is expected to find support at 1.2590 and a fall through could take it to the next support level of 1.2550. On the other side resistance stands at 1.2650, and a rise through could take it to the next resistance level of 1.2690.

GBPUSD-18-12-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2508 1.2542 1.2578 1.2612 1.2648 1.2682 1.2718
WEEKLY 1.2170 1.2323 1.2454 1.2607 1.2738 1.2819 1.3120
MONTHLY 1.2142 1.2433 1.2593 1.2884 1.3044 1.3335 1.3495

GOLD

Gold sees descending broadening wedge breakout ahead of Fed. Short term support stands at 1244.00, and a fall through could take it to the next support level of 1234.00. On the other side resistance stands at 1250.00, and a rise through could take it to the next resistance level of 1260.00.

Gold-18-12-2018

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1229.39 1234.42 1242.14 1247.17 1254.89 1259.92 1267.64
WEEKLY 1212.96 1224.73 1233.06 1244.83 1253.16 1264.93 1273.26
MONTHLY 1161.34 1181.87 1203.94 1224.47 1246.54 1267.07 1289.14