USD/JPY

USD/JPY is trimming gains as yen sellers are struggling to absorb buying pressure amid risk-off mood in the financial markets. Investors are selling risk, possibly in response to reports stating a rise in the number of coronavirus cases outside China, especially in South Korea and Italy. USD/JPY is expected to find support at 111.23 and a fall through could take it to the support level of 111.06. On the other side, resistance stands at 111.72 and a rise through could take it to the level of 111.96.

USDJPY-24-02-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 110.93 111.07 111.32 111.46 111.71 111.85 112.09
1 WEEK 107.52 108.59 110.08 111.15 112.64 113.71 115.20
1 MONTH 104.60 106.12 107.26 108.78 109.92 111.44 112.58

EURUSD

EUR/USD is trading closer back to 1.08, down as the dollar benefits from safe-haven flows related to the spread of the coronavirus outbreak well beyond China. The US dollar remains bid despite falling US yields. The German IFO Business Climate is eyed. EUR/USD is expected to find support at 1.0783 and a fall through could take it further to the support level of 1.0741. On the other side, resistance stands at 1.0838 and a rise through could take it to the next resistance level of 1.0860.

EURUSD-24-02-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.0789 1.0800 1.0820 1.0831 1.0851 1.0862 1.0882
1 WEEK 1.0705 1.0741 1.0793 1.0829 1.0881 1.0917 1.0969
1 MONTH 1.0747 1.0869 1.0982 1.1104 1.1217 1.1339 1.1452

GBPUSD

GBP/USD is trading just below 1.2950, around familiar levels. The EU and the UK prepare for formal post-Brexit due to talks kicking off next week. Coronavirus fears are weighing on markets. GBP/USD is expected to find support at 1.2919 and a fall through could take it to the next support level of 1.2897. On the other side, resistance stands at 1.2966 and a rise through could take it to the next resistance level of 1.2987.
GBPUSD-24-02-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2924 1.2932 1.2942 1.2950 1.2960 1.2968 1.2978
1 WEEK 1.2652 1.2750 1.2860 1.2958 1.3068 1.3166 1.3276
1 MONTH 1.2684 1.2818 1.3009 1.3143 1.3334 1.3468 1.3659

GOLD

Gold prices remain positive above March 2013 top and that year’s high and late-2012 tops will be on the bull’s radar for now. Overbought RSI can trigger intermediate pullbacks, but major sellers are expected to stay away unless prices dip below September 2019 peak. Gold is expected to find support at 1,657.10 and a fall through could take it to the support level of 1,651.90. On the other side, resistance stands at 1,676.80, and a rise through could take it to the level of 1,685.20.

Gold-24-02-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1612.01 1628.98 1648.61 1665.58 1685.21 1702.18 1721.81
1 WEEK 1536.06 1557.93 1601.26 1623.13 1666.46 1688.33 1731.66
1 MONTH 1437.04 1478.37 1530.64 1571.97 1624.24 1665.57 1717.84