Forex Weekly Forecast Aug 21 2017

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EURUSD Consolidates With Upside Bias!

As long as 1.1713/1.1612 support holds on a weekly closing basis, the EURUSD remains on the upside in medium-term outlook with risk towards the 1.2000 levels, a halt is likely but a break would open 1.2220 levels, further upside, resistance comes at the 1.2570 levels. On the downside, below 1.1612 sees a pullback risk to the 1.1285 levels, further down, support comes at the 1.0922 levels…

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blankGBPUSD Pulls Back With Caution!

As long as 1.3120/1.3000 resistance holds on a weekly closing basis, the GBPUSD remains in a pullback mode and further down could be seen towards 1.2811/1.2705 levels, a halt is likely but a cut would open 1.2514 levels. Above 1.3120 will target 1.3266/1.3532 levels.

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USDJPY Bearish Eyes The 107.15 Levels.

As long as 110.91 resistance holds on a weekly closing basis, the USDJPY remains on the downside towards the 107.15 levels, a halt is likely if seen, resistance comes at the 108.70 levels ahead of 110.91 (main), however; below 107.15 will open 105.15, further down, support comes at the 103.00 levels. Above 110.91 sees a recovery risk towards the 114.48 levels where another fall is likely…

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blankXAUUSD Pressure Builds Up On The 1319 Levels.

As long as 1251 support holds on a weekly closing basis, the XAUUSD remains on the upside to the 1319 levels, a halt is likely if seen, support comes at the 1292 levels, however; above 1319 will open 1343 levels, further upside, resistance comes at the 1375 levels. Below 1251 sees a fall risk towards 1212 levels.

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blankWTI Crude Oil Sees Sideways Market!

The pair is trapped within 45.41/49.81 levels, above 49.81 (is likely) will target 52.00, a reversal may occur here but a break would open 54.09 levels. Below 45.41 sees a fall to the 42.70/40.70 levels. (Minor support: 48.40/46.44).

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