USD/JPY

USD/JPY is challenging fresh ten-day lows just below the 107 mark, as the bears remain in command amid intensifying risk-off sentiment. The downbeat market mood could extend into Europe, as it is hinted by the accelerating losses in the S&P 500 futures. USD/JPY could find support at 106.75 and a fall through may take it further to the support level of 106.58. On the other side, resistance could stand at 107.04, and a rise through may take it to the next resistance level of 107.23.
USDJPY-10-07-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 106.75 106.92 107.07 107.24 107.38 107.56 107.70
1 WEEK 105.84 106.44 106.97 107.57 108.10 108.70 109.23
1 MONTH 102.25 104.16 106.04 107.95 109.83 111.74 113.62

EURUSD

EUR/USD remains under pressure near the 200-hour SMA near 1.1260. The risk-off tone in the Asian stocks kept the US dollar better bid so far, with the shared currency remaining at the mercy of the broader market sentiment. EUR/USD could find support at 1.1237 and a fall through may take it further to the support level of 1.1210. On the other side, resistance could stand at 1.1283, and a rise through may take it to the next resistance level of 1.1300.
EURUSD-10-07-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.1158 1.1219 1.1250 1.1311 1.1343 1.1403 1.1435
1 WEEK 1.1070 1.1127 1.1189 1.1246 1.1307 1.1365 1.1426
1 MONTH 1.0749 1.0922 1.1077 1.1250 1.1405 1.1578 1.1732

GBPUSD

GBP/USD has extended the downside consolidative below 1.2600 in early Europe and remains vulnerable amid broad risk-aversion. Coronavirus fears offset UK fiscal stimulus optimism as UK turned down the EU coronavirus vaccine scheme. GBP/USD could find support at 1.2541 and a fall through may take it further to the support level of 1.2510. On the other side, resistance could stand at 1.2613, and a rise through may take it to the next resistance level of 1.2634.
GBPUSD-10-07-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1.2510 1.2555 1.2581 1.2626 1.2652 1.2697 1.2723
1 WEEK 1.2033 1.2142 1.2313 1.2422 1.2593 1.2702 1.2873
1 MONTH 1.1602 1.1927 1.2164 1.2489 1.2727 1.3051 1.3289

GOLD

Gold is currently trading below the $1,800 mark following Thursday’s good two-way businesses. The risk-off theme amid coronavirus concerns continues to bode well for the US dollar. Gold could find support at 1,788.60 and a fall through may take it further to the support level of 1,783.70. On the other side, resistance could stand at 1,802.60, and a rise through may take it to the next resistance level of 1,809.60.
Gold-10-07-2020

TIME FRAME S3 S2 S1 PIVOT POINT R1 R2 R3
1 DAY 1767.86 1783.73 1793.76 1809.63 1819.66 1835.53 1845.56
1 WEEK 1726.90 1746.60 1768.30 1788.00 1809.70 1829.40 1851.10
1 MONTH 1581.41 1626.63 1713.56 1758.78 1845.71 1890.93 1977.86