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Evening update for currencies & commodities 18/8/2017

News Date: 18/8/2017 07:24:01
 

The EURUSD pair returns to recover and start testing the important resistance 1.1783, waiting to confirm breaching this level to rally towards our next target at 1.1910, to keep the bullish trend expected for today conditioned by the price stability above 1.1700.

Sterling shows calm rise to move near 1.2930 level, and as long as the price is above 1.2850, the bullish trend will remain expected for the coming period, which its next targets reach to 1.3000 then 1.3108, noting that surpassing 1.2930 will support the expectations of achieving the mentioned targets.

The USDJPY pair continues to decline clearly to push on 109.00 level now, supporting the expectations of more decline in the coming period, which its next target located at 107.83, while achieving it requires settling below 109.90.

Gold prices witness clear recovery to start surpassing 1295.46 level, which supports the continuation of the expected bullish trend on the short term basis, which its next target located at 1320.00, while settling above 1280.00 represents the first condition to continue the expected bullish wave.

Crude oil is testing the important resistance 47.22, forming the first barrier that keeps our bearish forecast valid, waiting to head towards 46.23 then 45.24 levels mainly, reminding you that settling below 48.44 represents the most important condition to achieve these targets.

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