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Evening update for currencies & commodities 25/8/2017

News Date: 25/8/2017 06:55:38
 

The EURUSD pair keeps its consolidation above 1.1783 level, to keep our positive forecast active for today, waiting to test 1.1910 level initially, while the positive targets extend to reach 1.2100 on the near term basis, while achieving them requires settling above 1.1704.

Sterling tests the descending channel's resistance, and the bearish trend still valid unless surpassing 1.2850 level and settling above it, reminding you that our waited targets begin at 1.2750 and reach 1.2588 on the near term basis.

The USDJPY pair keeps its stability below 109.90, thus, the bearish trend still valid for today, waiting to test 108.60 level again, which breaking it represents the key to extend the bearish wave towards 107.83.

Gold prices witness stability above the main bullish trend line, to keep the bullish trend dominant for today, which its targets begin at 1295.46 and extend to 1320.00, while achieving them requires settling above 1285.00.

Crude oil shows weak trades since morning and still above 47.22 level, which makes us continue with our bullish trend forecast for the coming period, as the price needs to surpass 48.44 level to confirm heading towards 50.42 as a first main target.

The US dollar index moves within narrow track since morning and still below 94.40 level, thus, the bearish trend still dominant on the short term basis, reminding you that our main waited targets that reach to 91.91 then 91.35

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