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Evening update for currencies & commodities 15/8/2017

News Date: 15/8/2017 06:18:21
 

The EURUSD pair falls under negative pressure to break 1.1783 and settles below it now, indicating the price head to achieve more decline in the coming period especially in case the price settled below the mentioned level, to start the negative targets at 1.1704 and might extend to 1.1640, while surpassing 1.1783 represents the key to return to resume the main bullish trend again.

Sterling succeeded to break 1.2930 level to confirm the continuation of the bearish trend towards 1.2850, thus, we are waiting for more decline in the coming period, noting that surpassing 1.2930 will push the price to test 1.3000 before attempting to decline again.

The USDJPY pair keeps achieving gains to approach from our first waited target at 111.00, to keep the bullish trend expected for today, which its targets extend to reach 112.00 after surpassing the previous level, while settling above 109.90 represents main condition to achieve the mentioned targets.

Gold prices settle around 1274.00, and RSI attempts to get positive momentum to support the continuation of the overall bullish trend, to keep the bullish trend valid in general unless pushing on 1255.77 level to break it, waiting to head towards 1295.46 initially.

Crude oil retests the previously broken support of the bullish channel and still below it, to keep the negative pressure dominant in the coming period, which its next targets located at 47.22 then 46.23, while achieving them requires settling below 47.70 and 48.44 levels.

The US dollar index provides positive attempts but it's still around the descending channel's support, and as long as the index is stable below 94.44, the bearish trend will remain valid, waiting to head towards 91.91 mainly, noting that surpassing 94.44 will push the index to start recovery attempts and head towards 96.20 mainly.

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