USD/JPY

USD/JPY is posting small losses around 104.55 and could possibly extend the previous decline after witnessing good two-way businesses on Monday. The pair got off to a strong start in mid-London trade when it rallied from 104.60 to 105.13 on vaccine development headlines but later faded to 104.55. USD/JPY could find support at 104.33 and a fall through may take it further to the support level of 104.24. On the other side, resistance could stand at 104.77 and a rise through may take it to the next resistance level of 105.02.
USDJPY-17-11-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 103.46 103.91 104.24 104.69 105.02 105.47 105.81
1 WEEK 100.81 102.00 103.31 104.50 105.81 107.00 108.30
1 MONTH 101.64 102.83 103.74 104.93 105.83 107.03 107.93

EURUSD

EUR/USD was better bid above 1.1850 in the previous session, as the hopes for coronavirus vaccine and the prospects of the global economy returning to normalcy in 2021 continue to weigh over the safe-haven dollar. The EU calendar is light on Tuesday and therefore, the focus would be on the US Retail Sales data. EUR/USD could find support at 1.1836 and a fall through may take it further to the support level of 1.1820. On the other side, resistance could stand at 1.1869, and a rise through may take it to the next resistance level of 1.1884.
EURUSD-17-11-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1765 1.1789 1.1821 1.1845 1.1877 1.1901 1.1932
1 WEEK 1.1568 1.1657 1.1744 1.1832 1.1919 1.2007 1.2095
1 MONTH 1.1322 1.1481 1.1564 1.1723 1.1807 1.1965 1.2049

GBPUSD

GBP/USD prints three-day winning streak above 1.3200 in the London open. UK Brexit Minister Frost hints trade deal “early next week”. Vaccine hopes firm up but fail to defy the virus woes. BOE Governor Andrew Bailey’s speech awaited later today. GBP/USD could find support at 1.3188 and a fall through may take it further to the support level of 1.3158. On the other side, resistance could stand at 1.3236, and a rise through may take it to the next resistance level of 1.3255.
GBPUSD-17-11-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.3073 1.3118 1.3155 1.3199 1.3236 1.3280 1.3317
1 WEEK 1.2886 1.2996 1.3090 1.3200 1.3295 1.3404 1.3499
1 MONTH 1.2420 1.2619 1.2780 1.2979 1.3140 1.3339 1.3499

GOLD

Gold remains below $1,900, having created a long-legged Doji candle on Monday, implying indecision in the market. Spiking coronavirus cases in the US offset vaccine optimism. The immediate bias appears to be neutral if prices hold Monday’s $1,864-$1,899 range. Gold could find support at 1,878.70 and a fall through may take it further to the support level of 1,870.80. On the other side, resistance could stand at 1,896.50, and a rise through may take it to the next resistance level of 1,903.40.
GOLD-17-11-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1830.36 1845.93 1866.86 1882.43 1903.36 1918.93 1939.86
1 WEEK 1807.56 1840.43 1896.06 1928.93 1984.56 2017.43 2073.06
1 MONTH 1766.55 1813.00 1846.45 1892.90 1926.35 1972.80 2006.25