USD/JPY

USD/JPY seesawed between tepid gains/minor losses on Friday and is currently placed in the neutral territory, around the 109.25 region. The pair on Thursday witnessed a dramatic intraday turnaround and rallied over 90 pips from daily lows amid signs of progress in resolving a 16-month long trade war between the world’s two largest economies. USD/JPY is expected to find support at 109.08 and a fall through could take it to the support level of 108.89. On the other side, resistance stands at 109.45 and a rise through could take it to the level of 109.63.

USDJPY-08-11-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 107.96 108.31 108.79 109.14 109.63 109.97 110.46
1 WEEK 106.21 107.05 107.62 108.46 109.03 109.87 110.44
1 MONTH 103.76 105.15 107.62 107.94 109.40 110.76 112.22

EURUSD

EUR/USD is trading around 1.1050, struggling to recover. Contradicting headlines regarding the state of US-Sino trade talks have been rocking markets. German trade balance met expectations and US Consumer Sentiment is eyed. EUR/USD is expected to find support at 1.1034 and a fall through could take it further to the support level of 1.1005. On the other side, resistance stands at 1.1065 and a rise through could take it to the next resistance level of 1.1083.

EURUSD-08-11-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0974 1.1005 1.1028 1.1060 1.1083 1.1115 1.1137
1 WEEK 1.1000 1.1037 1.1102 1.1139 1.1204 1.1241 1.1306
1 MONTH 1.0659 1.0769 1.0961 1.1071 1.1263 1.1373 1.1565

GBPUSD

GBP/USD is consolidating its losses around 1.28 after the BOE painted a gloomier picture of the local and global economies. Both main political parties are struggling with scandals as the countdown to the election continues. GBP/USD is expected to find support at 1.2786 and a fall through could take it to the next support level of 1.2748. On the other side, resistance stands at 1.2828 and a rise through could take it to the next resistance level of 1.2846.

GBPUSD-08-11-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2701 1.2748 1.2784 1.2831 1.2867 1.2914 1.2950
1 WEEK 1.2666 1.2736 1.2836 1.2906 1.3006 1.3076 1.3176
1 MONTH 1.1601 1.1898 1.2420 1.2717 1.3239 1.3536 1.4058

GOLD

Gold edged higher on the last trading day of the week and built on the overnight late bounce from over one-month lows. Gold took a sharp knock on Thursday in reaction to positive trade-related developments, wherein both China and the US said to have agreed to roll back tariffs on each other’s’ goods in a “phase one” trade deal. Gold is expected to find support at 1,463.90 and a fall through could take it to the support level of 1,460.40. On the other side, resistance stands at 1,475.70, and a rise through could take it to the level of 1,481.20.

Gold-08-11-2019

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1421.80 1441.60 1454.00 1473.80 1486.20 1506.00 1518.40
1 WEEK 1454.10 1468.60 1490.00 1504.50 1525.90 1540.40 1561.80
1 MONTH 1417.14 1441.07 1477.94 1501.87 1538.74 1562.67 1599.54