Forex Daily Forecast Aug 08 2017

euro-dollar-594

EURUSD Pulls Back With Caution

As long as 1.1888 resistance holds on a daily closing basis, the EURUSD remains in a pullback mode and further down could be seen, but downside below 1.1888 should be contained well by the 1.1727/1.1670 levels where rebound is likely, below that level will extend the corrective pullback towards the 1.1477 levels…

On the upside, above 1.1888 will restore the upside momentum and extend gains towards the 1.1975 levels ahead of the 1.2085 levels, further upside resistance comes at the 1.2158/1.2212 levels…

Conclusion: The EURUSD continues to face pull back threats below the 1.1888 levels…

blank


blankGBPUSD Bearish Eyes The 1.2933 levels…

As long as 1.3146 resistance holds on a daily closing basis, the GBPUSD remains on the downside towards the 1.3000 levels ahead of the 1.2933 levels, a halt likely but a cut would open 1.2870 levels followed by the 1.2793 levels. On the upside, resistance comes at the 1.3058 levels ahead of the 1.3146 levels (main), above that level sees a recovery risk to the 1.3246 levels where another fall is likely…

blank


blankUSDJPY Consolidates With Downside Bias!

As long as 111.04/111.32 resistance holds on a daily closing basis, the USDJPY remains on the downside to the 110.20/109.80, a cut through that level will accelerate the bearish move towards the 109.10 levels ahead of the 108.35. Above 111.32 sees a recovery risk to the 112.18 levels where another fall is likely…

blank


blankXAUUSD Sees Pulls Back Threats!!!

As long as 1254 support holds on a daily closing basis, the XAUUSD remains neutral with risk to the upside, resistance comes at the 1270 levels. At this point the XAUUSD will have to break and hold above the 1270 levels to prevent a return to the downside if seen, it will target 1281 levels, further upside, resistance comes at 1295 levels…

On the downside, below 1254 sees a fall risk to the 1242 levels, further down, support comes at the 1227 levels where a strong rebound is very likely…

blank


blankWTI Crude Oil Bullish With Risk To the 50.85 levels…

As long as 48.40 support holds on a daily closing basis, the WTI Oil remains on the upside to the 50.85 levels, a halt is likely but a break would open 52.30, further upside, resistance┬ácomes at the 54.00 levels…

On the downside, below 48.40 sees a pullback threats to the 46.60 levels before the next rising…

blank

MARKET DATA

UPCOMING ECONOMIC EVENTS