24 Jul

Forex Weekly Technical Outlook on 24-28 JULY 2017

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This week Technical Pairs: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDJPY, GBPJPY, USDCAD, Crude Oil, Gold, Silver
EURUSD had an excellent week, breaking too much higher ground. Our last week target was reached at 1.16 levels, currently the pair was in 1.1633 levels, for the price action previous high  was nearly to 1.1713 levels, simultaneously the pair trading in a weekly range at 1.1805 levels in 200MA which is held at resistance line. EURUSD turns BULLISH to NEUTRAL.
Last week we mentioned the pair was in upward channel for the long-term target at 1.36 levels but, the GBP inflation data was depressed for buyers previous week. So the pair made some correction on downside ground but still the pair was trading upwards to reach this week our target levels at 1.36. GBPUSD remains BULLISH.
Previously we mentioned our price target at 0.800 levels almost reached the pair last week. The first two days of this week the pair made some correction maximum level 0.7775 to reach. Currently, the pair drive continues to uphill moment in long-term for the reason of struggling range breakout. AUDUSD remains BULLISH.
We discussed last week our price target was reached at 0.7435 levels. The pair was trading in a previous high price range currently. After reaching the maximum level of 0.7484 at the top, the pair made some alteration to downwards or it will breakout the levels, the pair driving sustains to upwards for a long-term. NZDUSD remains BULLISH.
Last week we mentioned there was a supporting line for uphill moment but the pair reversed its direction to downside nearly ground to 140 pips. Still the pair made a correction to the drive at the top. USDJPY remains BULLISH.
the pair reversed its direction on downhill moment before reaching the breakout line as we mentioned previous week. This week the pair was currently in a supporting range so the buyers can still drive the pressure on upside. GBPJPY remains BULLISH.
The pair last week reached our price target. After a long-term downside pressure in the range market still the pair sustains to fall. This week the pair made a correction for upside direction to confirm the buying chances. USDCAD remains NEUTRAL.
WTI- Crude Oil
Technically, the pair last week we mentioned moving upper side but still breaking the resistance level to struggling the pair. This week if the pair made a breakout of the down channel resistance it will reach our 60 line target. Crude Oil remains BULLISH.
Previous week we discussed the yellow metal price moving downwards in the resistance level. Still the pair was supporting the downhill moment this week for the reason of long-term support changing as a resistance now. XAUUSD remains BEARISH.
The pair gave some corrections on the upwards as we mentioned last week. Currently the pair was trading in the resistance line. XAGUSD remains BEARISH.
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