USD/JPY

USD/JPY is trading at 105.77 during the early trading hours of Monday. Even so, the pair loses 0.12% on a day while defying Friday’s halt to a three-day losing streak. Negotiations between the White House and Democrats and tensions between the US and China take centre stage. USD/JPY could find support at 105.56 and a fall through may take it further to the support level of 105.10. On the other side, resistance could stand at 105.97, and a rise through may take it to the next resistance level of 106.16.
USDJPY-10-08-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 105.72 105.78 105.82 105.89 105.93 106.00 106.04
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 lacking a clear directional bias on Monday, having declined by 0.78% on Friday to register its biggest single-day decline in over four months. The oversold dollar may draw haven bids due to fiscal impasse in Washington. The pair is currently trading near the 1.1800 level. EUR/USD could find support at 1.1775 and a fall through may take it further to the support level of 1.1754. On the other side, resistance could stand at 1.1818, and a rise through may take it to the next resistance level of 1.1833.
EURUSD-10-08-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1754 1.1764 1.1773 1.1783 1.1792 1.1802 1.1812
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 prints mild gains while extending recovery moves from 1.3041. Fresh US dollar selling ignores fears of further hardships for the UK’s labour market. Brexit optimism, UK-Japan trade talks and hopes of further stimulus could favour the bulls as the pair trades at 1.3069. GBP/USD could find support at 1.3049 and a fall through may take it further to the support level of 1.3034. On the other side, resistance could stand at 1.3088, and a rise through may take it to the next resistance level of 1.3111.
GBPUSD-10-08-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.3010 1.3024 1.3037 1.3052 1.3065 1.3080 1.3093
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 is trading near $2,033 per ounce at press time, having put in a session low of $2,019 on early Monday. The risk-averse market conditions could put a fresh bid under the US dollar, as it struggles to extend Friday’s correction. Gold could find support at 2,021.40 and a fall through may take it further to the support level of 2,013.80. On the other side, resistance could stand at 2,045.30, and a rise through may take it to the next resistance level of 2,056.80.
Gold-10-08-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 2003.76 2011.33 2019.86 2027.43 2035.96 2043.53 2052.06
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