USD/JPY

USD/JPY takes the bids near 106.15 in Tuesday’s early trading. In doing so, the pair prints a three-day winning streak while challenging the highest levels since August 03. Even though the risk-tone remains sluggish, the US looks resilient. USD/JPY could find support at 106.00 and a fall through may take it further to the support level of 105.81. On the other side, resistance could stand at 106.31, and a rise through may take it to the next resistance level of 106.45.
USDJPY-11-08-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 105.19 105.45 105.69 105.95 106.19 106.45 106.70
1 WEEK 104.13 104.71 105.32 105.90 106.51 107.09 107.69
1 MONTH 100.00 102.09 103.99 106.08 107.98 110.07 111.97

EURUSD

EUR/USD is trading near 1.1740 in the Early European session on Tuesday. The safe-haven dollar was under pressure amid an upbeat market mood, however the pair dropped from the earlier high of 1.1757. ZEW Economic Sentiment figures for Germany and the Eurozone are eyed. EUR/USD could find support at 1.1713 and a fall through may take it further to the support level of 1.1691. On the other side, resistance could stand at 1.1759, and a rise through may take it to the next resistance level of 1.1780.
EURUSD-11-08-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1646 1.1691 1.1713 1.1758 1.1780 1.1825 1.1848
1 WEEK 1.1463 1.1579 1.1683 1.1800 1.1904 1.2021 1.2125
1 MONTH 1.0611 1.0898 1.1336 1.1623 1.2061 1.2348 1.2786

GBPUSD

GBP/USD was rising toward 1.31, amid some dollar weakness in the previous session. However, after the publication of the UK labour figures the pair quickly dipped to 1.3070. The unemployment rate remained depressed at 3.9% in June, a result of the government’s furlough schemes. Wages dropped by 1.2% when including bonuses and -0.2% when excluding them. GBP/USD could find support at 1.3050 and a fall through may take it further to the support level of 1.3033. On the other side, resistance could stand at 1.3085, and a rise through may take it to the next resistance level of 1.3103.
GBPUSD-11-08-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2938 1.2978 1.3024 1.3064 1.3110 1.3150 1.3196
1 WEEK 1.2754 1.2867 1.2959 1.3073 1.3165 1.3279 1.3371
1 MONTH 1.1762 1.2060 1.2575 1.2873 1.3388 1.3686 1.4200

GOLD

Gold falls by 1.7% and back below the $2,000 mark as gold prices print a three-day losing streak. The US dollar is gaining ground in recent days, putting pressure on the yellow metal. Gold could find support at 1,984.70 and a fall through may take it further to the support level of 1,972.80. On the other side, resistance could stand at 2,011.60, and a rise through may take it to the next resistance level of 2,022.20.
Gold-11-08-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1983.84 2001.37 2015.84 2033.37 2047.84 2065.37 2079.84
1 WEEK 1847.16 1905.33 1961.66 2019.83 2076.16 2134.33 2190.66
1 MONTH 1603.49 1684.97 1829.44 1910.92 2055.39 2136.87 2281.34