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Evening update for currencies & commodities 8/8/2017

News Date: 8/8/2017 06:37:57

The EURUSD pair witnesses stability since morning and still above 1.1783 level, to keep the bullish trend valid for today, waiting to head towards our expected targets that reach to 1.1900 then 1.2000.

Sterling moves within narrow range since morning and still stable above the important support 1.3000, while RSI moves near the oversold areas, to support the continuation of the bullish trend in the coming period, which its first target located at 1.3108, while the price needs to surpass this level to confirm rallying towards 1.3268 as a next target.

The USDJPY pair shows calm negative trades and approaches from 110.50 support line, noting that breaking this level will support the continuation of the bearish trend that its next target located at 109.90, while settling below 111.00 represents important condition to continue the expected decline.

Gold prices continue the recovery attempts to rise calmly, thus, the bullish trend will remain expected for the coming period conditioned by the price stability above 1255.77, reminding you that our targets start at 1272.50 and extend to 1295.46.

Crude oil achieved good gains this morning and rallied to surpass the important resistance 49.50, which adds more support to the expectations of continuing the bullish trend on the short term basis, and the door is open to visit 50.42, which surpassing it represents the key to rally towards 51.30, while the price needs to settle above 48.44 to guarantee the continuation of the expected bullish trend.

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