USDJPY

USD/JPY pair kicks-off the New Year on a weaker note, in a risk-off environment following a turbulent end to the year in global stock markets. Looking ahead, as holiday-thinned trading extends, the US dollar dynamics and risk trends will continue to remain the main drivers for the major. USD/JPY is expected to find support at 109.05, and a fall through could take it to the support level of 108.75. On the other side, resistance stands at 109.84, and a rise through could take it to the level of 110.38.

USDJPY-02-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.41 109.51 109.60 109.70 109.79 109.89 109.97
WEEKLY 108.30 109.15 109.72 110.57 111.14 111.99 112.56
MONTHLY 103.83 106.69 108.14 111.00 112.45 115.31 116.76

 

EURUSD

EUR/USD heads into 2019's first European market session just over 1.1480, gearing for an early run into 1.1500 despite market risks, though thin market volumes and restrained trading outside of the Pacific sector could see the pair within familiar levels. EUR/USD is expected to find support at 1.1426 and a fall through could take it further to the support level of 1.1405. On the other side, resistance stands at 1.1505, and a rise through could take it to the next resistance level of 1.1525. 

EURUSD-02-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1287 1.1356 1.1409 1.1478 1.1531 1.1600 1.1653
WEEKLY 1.1224 1.1283 1.1360 1.1419 1.1496 1.1555 1.1632
MONTHLY 1.1111 1.1189 1.1330 1.1408 1.1549 1.1627 1.1768

GBPUSD

GBP/USD is trading close to 1.2750 after the major pair managed a recovery from this week's lows near 1.2600, but the upside continues to look limited as January comes in with plenty of Brexit action to keep Pound bulls off-balance. GBP/USD is expected to find support at 1.2710 and a fall through could take it to the next support level of 1.2670. On the other side, resistance stands at 1.2785, and a rise through could take it to the next resistance level of 1.2820.

GBPUSD-02-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2662 1.2683 1.2719 1.2740 1.2775 1.2797 1.2832
WEEKLY 1.2506 1.2561 1.2634 1.2689 1.2762 1.2817 1.2890
MONTHLY 1.2179 1.2328 1.2543 1.2692 1.2907 1.3056 1.3271

GOLD

Gold is rallying close to $1,286 on the first trading day of the year. Gold's retreat at the highs came as U.S. stocks cut some losses on what was shaping to be their worst year since the financial crisis. Gold is expected to find support at the level of 1,277.33 and a fall through could take it to 1,268.21 level. On the other side, resistance stands at 1,289.56, and a rise through could take it to the next resistance level of 1,297.54.

Gold-02-01-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1280.65 1281.75 1282.55 1283.65 1284.45 1285.55 1286.35
WEEKLY 1242.40 1251.20 1267.10 1275.90 1291.80 1300.60 1316.50
MONTHLY 1183.20 1204.90 1243.10 1264.80 1303.00 1324.70 1362.90