USD/JPY

USD/JPY trades back closer to the lower end of a four-day-old narrow trading range, as reviving safe-haven demand underpinned the JPY and exerts some pressure. The US Dollar remains supported by Wednesday’s not so dovish July FOMC minutes. The downside seems limited ahead of the Fed Chair Powell’s speech on Friday. USD/JPY is expected to find support at 106.12 and a fall through could take it to the support level of 105.88. On the other side, resistance stands at 106.56 and a rise through could take it to the level of 106.73.

USDJPY_22_08_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 106.01 106.14 106.38 106.51 106.74 106.88 107.11
1 WEEK 103.37 104.21 105.30 106.14 107.23 108.07 109.16
1 MONTH 105.90 106.56 107.68 108.34 109.47 110.12 111.25

EURUSD

EUR/USD moves lower and tests the 1.1070 region as the bearish mood around the shared currency is everything but abated in the second half of the week. The pair is trading within the negative territory for the second session in a row today following the persistent and gradual up move in the buck. EUR/USD is expected to find support at 1.1065 and a fall through could take it further to the support level of 1.1052. On the other side, resistance stands at 1.1106 and a rise through could take it to the next resistance level of 1.1128.

EURUSD_22_08_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1052 1.1067 1.1079 1.1093 1.1105 1.1119 1.1131
1 WEEK 1.0862 1.0964 1.1027 1.1129 1.1192 1.1294 1.1357
1 MONTH 1.0663 1.0862 1.0967 1.1166 1.1271 1.1470 1.1576

GBPUSD

GBP/USD remains modestly flat after reversing from 21-DMA as upbeat Brexit signals from Germany and the latest negative headlines from France highlights Johnson-Macron meet. With the traders keenly waiting details of the UK PM Johnson and the French President Macros meeting, GBP/USD trades slightly changed to 1.2130 while into the London open on Thursday. GBP/USD is expected to find support at 1.2100 and a fall through could take it to the next support level of 1.2085. On the other side, resistance stands at 1.2143, and a rise through could take it to the next resistance level of 1.2168.

GBPUSD_22_08_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2041 1.2077 1.2104 1.2140 1.2168 1.2203 1.2231
1 WEEK 1.1888 1.1951 1.2050 1.2113 1.2212 1.2275 1.2374
1 MONTH 1.1360 1.1740 1.1947 1.2327 1.2534 1.2914 1.3121

GOLD

Gold prices are trapped between the recent 13th august highs and lows of the $1,530s and $1,479s, unfazed by the as expected Federal Open Market Committee minutes which did little to sway the market’s opinion that the Federal Reserve will cut interest rates again, likely as soon as the next meeting around in September. Gold is expected to find support at 1,494.00 and a fall through could take it to the support level of 1,489.70. On the other side, resistance stands at 1,508.30, and a rise through could take it to the level of 1,514.90.

Gold_22_08_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1496.76 1501.63 1508.66 1513.53 1520.56 1525.43 1532.46
1 WEEK 1435.76 1462.33 1492.96 1519.53 1550.16 1576.73 1607.36
1 MONTH 1310.29 1347.57 1379.79 1417.07 1449.29 1486.57 1518.79