USDJPY

With Japan’s flash Nikkei manufacturing PMI for May set to release overnight the Yen has been strengthening against the Dollar. USD/JPY is expected to find support at 110.81, and a fall through could take it to the next support level of 110.59. On the other side expected resistance stands at 111.41, and a rise through could take it to the next resistance level of 111.64.

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 110.32 110.61 110.81 111.10 111.30 111.59 111.79
WEEKLY 107.72 108.46 109.60 110.34 111.48 112.22 113.36
MONTHLY 102.92 104.28 106.81 108.17 110.70 112.06 114.59

EURUSD

With no macroeconomic releases scheduled in the Euro-zone today, Euro is trading weaker than the Dollar, with the market focusing on USD Richmond Fed Manufacturing Index for May. EUR/USD is expected to find support at 1.1715, and a fall through could take it further to the support level of 1.1690. On the other side resistance stands at 1.1821, and a rise through could take it to the next resistance level of 1.1854.

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.1659 1.1688 1.1739 1.1768 1.1819 1.1848 1.1899
WEEKLY 1.1435 1.1592 1.1685 1.1842 1.1935 1.2092 1.2185
MONTHLY 1.1590 1.1822 1.1950 1.2182 1.2310 1.2542 1.2670

GBPUSD

As the Pound hit a fresh low for the year, all eyes would be on a speech by BoE’s Governor, Mark Carney, due in a few hours, as well on the Brexit talks in Brussels. The pair is expected to find support at 1.3390, and a fall through could take it to the next support level of 1.3354. On the other side resistance stands at 1.3459, and a rise through could take it to the next resistance level of 1.3527.

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1.3305 1.3348 1.3390 1.3433 1.3475 1.3518 1.3560
WEEKLY 1.3254 1.3353 1.3413 1.3512 1.3572 1.3671 1.3731
MONTHLY 1.2866 1.3290 1.3531 1.3955 1.4196 1.4620 1.4861

GOLD

Gold had rose 0.21% against the USD amid weakness in the greenback on the previous session, but this morning is trading on a weaker footing and as low as 0.14% against the USD from yesterday’s close. XAUUSD is expected to find support at 1282.09, and a fall through could take it to the next support level of 1276.18. On the other side resistance stands at 1294.25, and a rise through could take it to the next resistance level of 1309.23.

 

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
DAILY 1272.74 1276.97 1284.44 1288.67 1296.14 1300.37 1307.84
WEEKLY 1242.26 1263.73 1276.96 1298.43 1311.66 1333.13 1346.36
MONTHLY 1239.60 1274.60 1295.40 1330.40 1351.20 1386.20 1407.00