USDJPY

USD/JPY is seen reversing most of the Asian gains and looks to test the 110.00 demand zone amid a slight turnaround in the risk sentiment, as the Asian equities finish near their lows and US equity futures turn lower. The risk-on mood seems to fade, lifting the demand for the safe-haven Yen on looming concerns over the US-China trade spat while escalating tensions between the US and Iran also somewhat weigh on the risk appetite. USD/JPY is expected to find support at 109.95and a fall through could take it to the support level of 109.74. On the other side, resistance stands at 110.31, and a rise through could take it to the level of 110.55.

USDJPY-20-05-19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 109.57 109.71 109.94 110.09 110.32 110.47 110.70
WEEKLY 108.19 108.61 109.35 109.77 110.51 110.93 111.67
MONTHLY 109.09 109.95 110.69 111.55 112.29 113.15 113.89

EURUSD

EUR/USD is losing ground uninterruptedly since last Monday, approaching 1.1150 level, amidst rising effervescence in the US-China trade universe, declining yields in the European money markets and a generalized risk-off mood. EUR/USD is expected to find support at 1.1147 and a fall through could take it further to the support level of 1.1133. On the other side, resistance stands at 1.1170, and a rise through could take it to the next resistance level of 1.1188.

EURUSD-20-05-19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1133 1.1141 1.1151 1.1160 1.1170 1.1179 1.1188
WEEKLY 1.1007 1.1081 1.1119 1.1193 1.1231 1.1305 1.1343
MONTHLY 1.0896 1.1004 1.1110 1.1218 1.1324 1.1432 1.1538

GBPUSD

GBP/USD trades near 1.2730 while into the London open on Monday as traders may now concentrate on political development surrounding the UK PM Theresa May’s Brexit proposal as it will soon be up for voting in the British parliament. GBP/USD is expected to find support at 1.2703 and a fall through could take it to the next support level of 1.2768. On the other side, resistance stands at 1.2774, and a rise through could take it to the next resistance level of 1.2800.

GBPUSD-20-05-19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2686 1.2703 1.2717 1.2734 1.2748 1.2765 1.2779
WEEKLY 1.2279 1.2496 1.2608 1.2825 1.2937 1.3154 1.3266
MONTHLY 1.2536 1.2701 1.2868 1.3033 1.3200 1.3365 1.3532

GOLD

Gold is on its third negative trading day as it seesaws near $1276.70 in the European open on Monday. Pessimism surrounding the US-China and the US-Iran relations could limit the bullion’s decline near trend-line support. Gold is expected to find support at 1,272.70 and a fall through could take it to the support level of 1,270.60. On the other side, resistance stands at 1,280.20, and a rise through could take it to the level of 1,284.90.

GOLD-20-05-19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1274.85 1275.85 1276.65 1277.65 1278.45 1279.45 1280.25
WEEKLY 1237.45 1256.15 1266.75 1285.45 1296.05 1314.75 1325.35
MONTHLY 1217.19 1242.62 1263.79 1289.22 1310.39 1335.82 1356.99