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Evening update for currencies & commodities 10/8/2017

News Date: 10/8/2017 06:16:24
 

The EURUSD pair returns to decline to start testing 1.1704 level that represents our first target, waiting to break this level to confirm the extension of the correctional bearish wave to reach 1.1640, keeping the decline expected for the coming period unless surpassing 1.1783 level and settling above it.

Sterling retreats against the US dollar to head towards the first waited target at 1.2930, waiting for more decline in the coming period unless surpassing 1.3000 level, as surpassing this level will push the price to test the most important resistance to the short term trades at 1.3108 before detecting the next trend clearly.

The USDJPY pair returns to push on the important support 109.90, indicating the continuation of the main negative pressure, to keep the bearish trend dominant in the coming period unless the price rallied to surpass 111.00 level and settle above it.

Gold prices keep the stability above the main bullish trend line, to keep the bullish trend valid for today, which its next target located at 1295.46, noting that the continuation of the expected rise depends on settling above 1255.77.

Crude oil shows calm positive attempts and keeps its stability above 49.50 level, supporting the expectations of continuing the bullish trend in the coming period, which its next target located at 50.42 and extend to 52.00 after surpassing the previous level, reminding you that settling above 48.44 is important to achieve the expected targets.

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