USD/JPY

USD/JPY failed to capitalize on the previous session’s goodish up-move and edged lower on Wednesday, albeit has managed to hold above the 108.00 handle. The pair caught some bids on Tuesday following the release of upbeat US retail sales data for June, which tempered expectations of aggressive policy easing by the Fed and provided a goodish lift to the US Dollar. USD/JPY is expected to find support at 108.08 and a fall through could take it to the support level of 107.88. On the other side, resistance stands at 108.37 and a rise through could take it to the level of 108.51.

USDJPY_17_07_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 107.43 107.65 107.93 108.15 108.43 108.65 108.93
WEEKLY 106.28 107.04 107.48 108.24 108.68 109.44 109.88
MONTHLY 104.82 105.80 106.85 107.83 108.88 109.86 110.91

EURUSD

EUR/USD met strong support near the 1.1200 handle, and now is taking rounds at 1.2010 band early in the European session. Poor releases from the ZEW survey for the current month showed the German morale remains subdued and forced Economic Sentiment to deteriorate further, hurting the sentiment around EUR. EUR/USD is expected to find support at 1.1194 and a fall through could take it further to the support level of 1.1164. On the other side, resistance stands at 1.1220 and a rise through could take it to the next resistance level of 1.1241.

EURUSD_17_07_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1127 1.1164 1.1188 1.1226 1.1250 1.1288 1.1311
WEEKLY 1.1122 1.1158 1.1215 1.1251 1.1308 1.1344 1.1401
MONTHLY 1.0954 1.1055 1.1212 1.1313 1.1470 1.1571 1.1728

GBPUSD

GBP/USD fails to recover after having plummeted to a 27-month low, during early Wednesday. The pair couldn’t take advantage of better than forecast Average Earnings from the UK as runners to the UK Prime Minister’s post continue showing their hard stand against Irish backstop that the EU insists during its previous deal with Theresa May. GBP/USD is expected to find support at 1.2363 and a fall through could take it to the next support level of 1.2344. On the other side, resistance stands at 1.2441, and a rise through could take it to the next resistance level of 1.2487.

GBPUSD_17_07_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.2241 1.2319 1.2364 1.2442 1.2487 1.2565 1.2611
WEEKLY 1.2342 1.2391 1.2483 1.2532 1.2624 1.2673 1.2765
MONTHLY 1.2260 1.2383 1.2539 1.2662 1.2818 1.2941 1.3097

GOLD

Gold prices fail to portray the US Dollar pullback amid trade and political jitters. However, the bullion buyers remain cautious of further bets on the US Federal Reserve rate cuts amid recent improvement of data and a lack of major catalysts. Gold is expected to find support at 1,400.00 and a fall through could take it to the support level of 1,394.40. On the other side, resistance stands at 1,411.10, and a rise through could take it to the level of 1,417.90.

Gold_17_07_19

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1384.91 1393.78 1400.21 1409.08 1415.51 1424.38 1430.81
WEEKLY 1353.41 1370.78 1394.21 1411.58 1435.01 1452.38 1475.81
MONTHLY 1191.06 1250.68 1322.91 1382.53 1454.76 1514.38 1586.61