Forex Daily Forecast Aug 11 2017

euro-dollar-594

EURUSD ٌRemains Under Pressure!

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…

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blankGBPUSD Bearish Eyes The 1.2933 levels…

As long as 1.3164 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 1.3164 levels (main), above that level sees a recovery risk to the 1.3246 levels where another fall is likely…

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blankUSDJPY Bearish Eyes The 108.35 Levels.

As long as 110.17 resistance holds on a daily closing basis, the USDJPY remains on the downside to the 108.35 levels, a cut through that level will accelerate the bearish move towards the 107.30 levels ahead of the 106.15 levels.

Above 110.16 sees a recovery risk to the 110.85/111.32 levels where another fall is likely…

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blankXAUUSD Bullish With Risk To The 1295 Levels…

As long as 1278 support holds on a daily closing basis, the XAUUSD remains bullish with risk to the 1285 levels ahead of the 1295 levels, a halt is likely but a break would open 1305, further upside, resistance comes at the 1319 levels. Below 1278 sees a pullback threats to the 1258 levels before the next rising…next support comes at the 1239/1224 levels…

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blankWTI Crude Oil Bearish, Reverses Risks To The Downside On Resistance Rejection! 

As long as 50.30 resistance holds on a daily closing basis, the WTI Oil remains on the downside to the 47.85 levels, a halt is likely but a cut would open 47.20 levels, further down, support comes at the 46.40 where another rise is likely…

On the upside, resistance comes at the 49.00 levels ahead of the 50.30 levels(main), above 50.30 will restore the upside momentum and turn the focus on the 52.00 levels…

 

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