Forex Daily Forecast Aug 23 2017

euro-dollar-594

EURUSD Cautiously Bullish Eyes 1.1872 Levels.

As long as 1.1730 support holds on a daily closing basis, the EURUSD remains on the upside towards the 1.1872 levels, a halt is likely but a break would open 1.1930, further upside, resistance comes at the 1.2000 levels.

On the downside, support comes at the 1.1730 levels,  below that level should weaken recent rise and turn the focus on the 1.1662 levels where another rise is likely. A cut below here will bring a free fall to the 1.1478 levels…

Conclusion: The EURUSD continues to face upside threats above the 1/1730 levels.

 

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blankGBPUSD Bearish But Around Support!

As long as 1.2908 resistance holds on a daily closing basis, the GBPUSD remains on the downside towards the 1.2793 levels, a halt likely but a cut would open 1.2715 levels followed by the 1.2602 levels. On the upside, resistance comes at the 1.2902 levels, above that level sees a recovery risk to the 1.3020/1.3060 levels where another fall is likely…(Minor resistance: 1.2820).blank

 


blankUSDJPY Bearish With Risk To The 108.00 Levels.

As long as 109.64 resistance holds on a daily closing basis, the USDJPY remains on the downside to the 108.63 levels ahead of the 108.00 levels, a halt is likely but a cut would open 107.20, further down, support comes at the 106.30 levels.

On the upside, above 109.64 sees a recovery threats to the 110.82/111.32 levels before the next falling.blank

 


blankXAUUSD Vulnerable Loses The Upside Momentum!

As long as 1292 resistance holds on a daily closing basis, the XAUUSD remains in a pullback mode with risk towards the 1270 levels, below that level will open 1254 levels where a strong rebound is very likely, a cut through the 1254 levels will turn outlook bearish to the 1239/1224 levels. Above 1292 will restore the upside momentum and open 1319/1339 levels…

 

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blankWTI Crude Oil Consolidates With Downside Bias!

As long as 49.26 resistance holds on a daily closing basis, the WTI Oil remains on the downside to the 46.40 levels, a halt is likely but a cut would open 44.40 levels, further down, support comes at the 42.60 levels…

On the upside, resistance comes at the 49.26/50.30 levels, above 50.30 sees a bullish move to the 52.00 levels.

 

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