USD/JPY

USD/JPY is trading at 109.05 at the time of writing, having climbed from a low of 108.34 to a high of 109.15. The US dollar is firm today, with a risk-on market as the yen drops with Japan moving to a state of emergency. USD/JPY is expected to find support at 108.63, and a fall through could take it to the support level of 108.34. On the other side, resistance stands at 109.46, and a rise through could take it to the level of 108.85.

USDJPY-06-04-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 108.07 108.21 108.46 108.60 108.85 108.99 109.24
1 WEEK 105.51 106.21 107.34 108.04 109.17 109.87 111.00
1 MONTH 91.38 96.28 101.92 106.82 112.46 117.36 123.00

EURUSD

EUR/USD is rising above 1.08 as Europe’s largest countries have reported slowdowns in the number of cases and deaths from coronavirus. The safe-haven dollar is on the back foot. German Factory Orders dropped by 1.4% in February. EUR/USD is expected to find support at 1.0789 and a fall through could take it further to the support level of 1.0772. On the other side, resistance stands at 1.0849, and a rise through could take it to the next resistance level of 1.0870.

EURUSD-06-04-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0777 1.0791 1.0798 1.0812 1.0819 1.0833 1.0841
1 WEEK 1.0300 1.0536 1.0673 1.0909 1.1045 1.1282 1.1418
1 MONTH 0.9755 1.0196 1.0611 1.1052 1.1467 1.1908 1.2323

GBPUSD

GBP/USD is trading around 1.2250, under pressure. UK PM Johnson remains in hospital amid ongoing symptoms of COVID-19. The UK lockdown may be tightened. GBP/USD is expected to find support at 1.2192 and a fall through could take it to the next support level of 1.2155. On the other side, resistance stands at 1.2326, and a rise through could take it to the next resistance level of 1.2360.

GBPUSD-06-04-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2148 1.2181 1.2200 1.2232 1.2251 1.2283 1.2302
1 WEEK 1.1884 1.2045 1.2154 1.2315 1.2424 1.2585 1.2694
1 MONTH 0.9693 1.0551 1.1485 1.2343 1.3277 1.4135 1.5069

GOLD

Gold bulls have been in charge of a correction from the mid-March lows and Friday’s as COVID-19 continues to spread and play havoc on the global economy. The yellow metal is currently trading at $1,628 up $20 from the session start. Gold is expected to find support at the level of 1,617.70 and a fall through could take it to 1,611.30 level. On the other side, resistance stands at 1,636.80, and a rise through could take it to 1,643.40 level.

Gold-06-04-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1630.46 1634.88 1642.66 1647.08 1654.86 1659.28 1667.06
1 WEEK 1492.34 1534.17 1589.94 1631.77 1687.54 1729.37 1785.14
1 MONTH 1207.86 1329.43 1460.76 1582.33 1713.66 1835.23 1966.56