Forex

GBP/USD WEEKLY OVERVIEW

On Monday Pound hit down around 0.2% against the Dollar at $ 1.2790. It is expected that positive economic data would be an important driver for Sterling. In fact Sterling out performed the Dollar and climbed 0.3% to $ 1.2886 after declaration of polls in UK, in June by Prime Minister Theresa May and her expected Landslide victory there in. According to reports over the past twelve years Sterling has risen by an average of 2.3 %.

TECHNICAL STUDY USING LUTFI MAGNET THEORY (GBP/USD)
TIME	S3	S2	S1	MAGNET POINT	R1	R2	R3
WEEKLY	1.2516	1.2700	1.2814	1.2885	1.2999	1.3069	1.3254

GBP/USD	OPEN	HIGH	LOW	CLOSE	CHANGE
WEEKLY	1.28395	1.29536	1.27712	1.29278	0.6817

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EUR/USD WEEKLY OVERVIEW

The EURO surged against US Dollar on Monday. The EURO’s session high briefly put the currency up about 2% against the Dollar. Political uncertainty can create short term spikes. On Monday EURO Last Traded at $ 1.0866 but on Tuesday EURO goes above $ 1.09 its best day in a year. The measure of EURO volatility against the Dollar fell to around 8 % that marked the biggest fall in a single day since EURO’s inception. The US $ index which is heavily exposed to EURO slipped 0.1 % to 99.035. Euro also suffered losses against the Dollar and was last down just 0.2 % at $ 1.0900 after having fallen as much as 0.6 %. Euro had touched $ 1.0950 to match 5-1/2 month high.

TECHNICAL STUDY USING LUTFI MAGNET THEORY (EUR/USD)
TIME	S3	S2	S1	MAGNET POINT	R1	R2	R3
WEEKLY	1.0650	1.0780	1.0870	1.0910	1.1000	1.1040	1.1170

EUR/USD	OPEN	HIGH	LOW	CLOSE	CHANGE
WEEKLY	1.09190	1.09500	1.08200	1.09599	0.3745

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USD/JPY WEEKLY OVERVIEW

The Dollar surged as much as 0.7% against the YEN on Tuesday after first round of French Presidential Election Centrist candidate Macron won the first round against Marine Le Pen who favors complete pull out of France from EURO Zone. However Yen fell around 0.7% to 110.55 YEN to the Dollar whereas US Dollar rose and strengthened to 0.3 %. The Dollar hits its highest level of the month against the Yen of 111.77 Yen.

TECHNICAL STUDY USING LUTFI MAGNET THEORY (USD/JPY)
TIME	S3	S2	S1	MAGNET POINT	R1	R2	R3
WEEKLY	106.5647	108.7487	110.0943	110.9327	112.2783	113.1167	115.3007

USD/JPY	OPEN	HIGH	LOW	CLOSE	CHANGE
WEEKLY	110.581	111.771	109.587	111.440	0.7748

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GOLD WEEKLY OVERVIEW

Gold fell by more than 1 % on Monday after victory report of Centrist Macron in first round of French Presidential Election. Spot Gold was down 1.1 % at $ 1269.45 an ounce having touched its lowest in nearly two weeks. On the other hands Gold Futures were down 1.4 % at $ 1270.80. Now the momentum for Gold to move ahead has faded away. Gold recovered from a 2 week low on Wednesday as US Treasury yields lower and Dollar rose on US President Donald Trump policy statement regarding Tax rate. Spot Gold was up 0.3 % at $ 1266.81 an ounce whereas US Gold futures settled down at 0.2 % at $ 1264.20

TECHNICAL STUDY USING LUTFI MAGNET THEORY (GOLD)
TIME	S3	S2	S1	MAGNET POINT	R1	R2	R3
WEEKLY	1201.9133	1250.0233	1258.2667	1268.1333	1276.3767	1286.2433	1304.3533

USD/JPY	OPEN	HIGH	LOW	CLOSE	CHANGE
WEEKLY	1275.67	1278.00	1259.89	1266.51	0.7140

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OIL WEEKLY OVERVIEW

Oil prices slipped nearly 1% on Monday on the reports that OPEC Countries will extend output cut until the end of 2017. On the other hand Russia threatened to enhance its highest output in 30 years if OPEC Countries do not extend a six month supply reduction deal beyond June 30. On Thursday crude prices fell more than 1 % with the start of two Libyan Oil fields including output of 300,000 Barrel per day of Shararah Oil field and 90,000 barrel per day of El Feel Oil field. Now Libyan crude production rose to 4,91,000 barrel per day. Meanwhile US Crude production is at 9.3 million barrel per day up almost 10% since 2016. Brent crude fell $ 1.22 a barrel to $ 51.17.

TECHNICAL STUDY USING LUTFI MAGNET THEORY (Oil)
TIME	S3	S2	S1	MAGNET POINT	R1	R2	R3
WEEKLY	47.9533	49.9933	51.0267	52.0333	53.0667	54.0733	56.1132

USD/JPY	OPEN	HIGH	LOW	CLOSE	CHANGE
WEEKLY	52.69	53.04	51.00	52.06	1.1946

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[box type=”note” align=”” class=”” width=””]DISCLAIMER: This report has been prepared by ISMAR financial. The information and opinions contained herein have been compiled or arrived at based upon information obtained from sources believed to be reliable and in good faith. Such information has not been independently verified and no guaranty, representation or warranty, express or implied is made as to its accuracy, completeness or correctness. This document is only for Reading information.[/box]