USDJPY

USD/JPY managed to reverse an early session dip back closer to weekly lows, albeit lacked any strong follow-through and remained well within this week’s broader trading range. USD/JPY is expected to find support at 108.50 and a fall through could take it to the support level of 108.36. On the other side, resistance stands at 108.68 and a rise through could take it to the level of 108.83.

USDJPY-12-12-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 108.11 108.29 108.43 108.61 108.75 108.93 109.07
1 WEEK 106.80 107.61 108.11 108.92 109.42 110.23 110.73
1 MONTH 106.58 107.23 108.37 109.02 110.16 110.81 111.95

EURUSD

EUR/USD logs in the fourth consecutive daily gain following the Fed’s accommodative stance. Second-tier German, EU data will offer intermediate moves ahead of the ECB. Trade/political headlines will also be on market players’ radar. EUR/USD is expected to find support at 1.1123 and a fall through could take it further to the support level of 1.1111. On the other side, resistance stands at 1.1144 and a rise through could take it to the next resistance level of 1.1162.

EURUSD-12-12-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1012 1.1041 1.1087 1.1116 1.1162 1.1191 1.1237
1 WEEK 1.0889 1.0946 1.1003 1.1060 1.1117 1.1174 1.1231
1 MONTH 1.0743 1.0862 1.0939 1.1058 1.1135 1.1254 1.1331

GBPUSD

GBP/USD is solidly bid at nine-month highs above 1.3200 on the UK election day. Sterling has rallied by 10% since early September. Markets seem to have priced in a Conservative victory. Investors are hedged for an unexpected election outcome. GBP/USD is expected to find support at 1.3168 and a fall through could take it to the next support level of 1.3142. On the other side, resistance stands at 1.3245 and a rise through could take it to the next resistance level of 1.3277.

GBPUSD-12-12-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.3034 1.3073 1.3136 1.3175 1.3238 1.3277 1.3339
1 WEEK 1.2694 1.2795 1.2966 1.3067 1.3238 1.3339 1.3510
1 MONTH 1.2590 1.2679 1.2807 1.2896 1.3034 1.3113 1.3241

GOLD

Gold spiked on the Federal Reserve’s interest rate decision and the Committee’s changes to its statement along with a Fed Chair Powell’s dovish statement. Gold is expected to find support at 1,469.20 and a fall through could take it to the support level of 1,465.70. On the other side, resistance stands at 1,476.70, and a rise through could take it to the level of 1,479.80.

Gold-12-12-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1450.16 1458.53 1466.76 1475.13 1483.36 1491.73 1499.96
1 WEEK 1423.20 1441.50 1453.30 1471.60 1483.40 1501.70 1513.50
1 MONTH 1370.04 1411.57 1442.14 1483.67 1514.24 1555.77 1586.34