Forex Market Technical Analysis on 31 July 2017
Forex & Commodity Weekly Technical Outlooks on 31 July-4 August 2017
EURUSD
EURUSD we mentioned last week, the pair is in uptrend but had some correction at 1.17 ranges. This week the pair nearly in a 200-SMA resistance level trading. After a long time the pair reached 200-SMA resistance line. The pair finished 1.1758 levels last week. The pair goes up to maximum of 250 points in the upside direction after that the pair might some fall in the weekend. EURUSD remains BULLISH.
GBPUSD
GBPUSD moved upturned directions last week & gained nearly 200 points. This week also the pair goes upwards to reach our long-term target was 1.33 levels but this week we revised our target levels at 1.36. GBPUSD remains BULLISH.
AUDUSD
AUDUSD last week traded in good ranges. This week the pair was in a strong resistance levels. The pair climbs nearly 130 points in upside direction. After that some correction made on that levels. The first two days of the week pair is in upwards and cuts down in the weekend. AUDUSD remains BULLISH.
NZDUSD
NZDUSD trading almost in a resistance ranges. This week the pair made some corrections at 0.7395 when reached this level we advised to go for a buying until avoid the upwards target. NZDUSD remains BULLISH.
USDJPY
USDJPY last week we discussed the pair was in upside movement but the pair moved reversed directions. This week the pair was trading in struggling support levels. After a breakout the pair moves some of the directions. USDJPY remains NEUTRAL.
GBPJPY
GBPJPY the pair was moving downside last week. The pair struggling in the resistance levels last week. This week the pair trying to breakout the resistance levels & continues to upwards movement. GBPJPY remains BULLISH.
USDCAD
USDCAD we mentioned previous week, the pair was in a neutral range. This week the pair moves in a long-term supporting zone. USDCAD remains BULLISH.
WTI-Crude Oil
Last week we discussed the pair was moved in an upwards moment. Last week the pair clearly breakout the resistance line & closed above the line. This week the pair was made some correction to the downside up to 48 levels. After that correction the pair was sustains to long-term target at 54.65 levels which was the previous high. Crude Oil remains BULLISH.
XAUUSD- GOLD
The yellow metal last week traded some reversed directions ended the last week in upwards moment. This week the pair was mostly on the downwards moment. XAUUSD remains BEARISH.
XAGUSD- Silver
Silver metal traded in a neutral range last week. This week the pair upturns his direction to reach up to 15.67 levels. XAGUSD remains BEARISH.
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