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Evening update for currencies & commodities 14/8/2017

News Date: 14/8/2017 06:26:28
 

The EURUSD pair returns to retreat slightly and approaches from testing the important support 1.1773, reminding you that breaking it will push trades to return to the correctional bearish track again, while the expected bullish wave targets begin at 1.1910 then 1.1990.

Sterling settles below 1.3000 level and declines calmly on its way to test our first target at 1.2930, to keep the bearish trend expected in the coming period, which its targets extend to reach 1.2850, while surpassing 1.3000 represents positive factor that will push the price to test the most important resistance on the short term basis at 1.3108 direct.

The USDJPY pair keeps rising to approach from retesting 109.90, noting that settling below this level keeps our bearish trend forecast valid until now, as we are waiting to visit 107.83 mainly, noting that surpassing 109.90 will push the price to achieve intraday gains that start at 111.00 then 112.00.

Gold prices witness retreat since morning to approach from testing the first support at 1277.00, waiting to rebound to the upside from the current areas to resume the bullish trend again, as breaking this level will push the price to achieve more decline that its next target located at 1255.77, while the expected bullish wave targets begin at 1295.46 then 1320.00.

Crude oil moves within narrow track since morning and keeps its stability above 48.44 level, to keep the bullish trend expected for the coming period, which its first target located at 50.42, noting that surpassing this level will push the price to extend its gains towards 52.00 as a next target.

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