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EURUSD Daily Pivots

R3 1.1352
R2 1.1279
R1 1.1145
Pivot 1.1073
S1 1.0939
S2 1.0866
S3 1.0732

EURUSDH4_2505

EURUSD (1.0981): EURUSD is trading below the 1.1 psychological handle after consolidating near the 1.117 through 1.1135 support/resistance level. Failure to find support near 1.098 price level is likely to see EURUSD decline down to 1.082 as the last support level which could be the line in the sand before prices decline further and possibly resume its bearish trend. From the daily charts, price action closed Friday on a bearish note as well, forming a minor bearish engulfing candlestick and the price zone between 1.09 through 1.0825 forms an important support level to keep an eye on.

USDJPY Daily Pivots

R3 122.722
R2 122.165
R1 121.844
Pivot 121.238
S1 120.905
S2 120.311
S3 119.978

USDJPYH4_2505

USDJPY (121.69): USDJPY formed a bullish engulfing candlestick on the daily charts and trading near 121 price level, indicating a possible continuation to the upside. A daily close above 121.5 will mark a highest close since prices began to move sideways around early March this year. Short term support comes in at 121.175, which if tested could see the pair push higher. With prices back into the rising price channel, we expect to see further upside gains in the near term.

GBPUSD Daily Pivots

R3 1.5854
R2 1.5772
R1 1.5624
Pivot 1.5542
S1 1.5394
S2 1.5312
S3 1.5167

GBPUSD (1.5475): GBPUSD saw a strong bearish reversal candlestick pattern on Friday and closed below 1.552 support level from the daily charts, indicating a potential decline to 1.5325 where the next support level comes in. On the intraday charts, price is still between 1.551 and 1.545 support level, but with price breaking out of the price channel, we could expect to see possible declines to the next support at 1.52.

GBPUSDH4_2505

 

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