GBP/USD WEEKLY OVERVIEW
On Monday dollar fell touching lows of various major currencies after a weak US manufacturing data that tumbles commodities prices in US and causing dollar to decline while Pound rose towards $ 1.30 and later steadied below at $ 1.30. After unexpected inflationary trend up to 2.7 % in April the Pound hit an almost one-week high against the dollar before selling pressure which pushed it to $ 1.2865. However, the Pound had recovered its losses up 0.1% to $1.2909. On Wednesday Pound hit its highest in almost eight months due to higher growth in employment rate and decline in the jobless rate for the first quarter in UK economic data. On Thursday Pound broke through $ 1.30 first time in eight months backed by more than expected British retail sales growth. British retail sales volume rose to 2.3% as against prediction of 1.0% rise, eventually Pound rose to as high as $ 1.3048 highest since September 29. The dollar fell to its lowest level since US President Donald Trump’s election in November 2016 as questions for his impeachment are being raised on his involvement in 18 undisclosed meeting with Russians during his election campaign.
|
TECHNICAL STUDY USING LUTFI MAGNET THEORY (GBP/USD)
|
|||||||
|---|---|---|---|---|---|---|---|
|
TIME
|
S3
|
S2
|
S1
|
MAGNET POINT
|
R1
|
R2
|
R3
|
|
WEEKLY
|
1.2676
|
1.2759
|
1.2825
|
1.2908
|
1.2974
|
1.3057
|
1.3123
|
|
GBP/USD
|
OPEN
|
HIGH
|
LOW
|
CLOSE
|
CHANGE
|
|---|---|---|---|---|---|
|
WEEKLY
|
1.2883
|
1.3048
|
1.2868
|
1.3068
|
1.4360
|
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EUR/USD WEEKLY OVERVIEW
On Monday the Euro rose to 0.3% to $ 1.0989 against the dollar after release of US manufacturing sector data. On Tuesday Euro hit more than 1% against dollar. The overwhelming victory of Emmanuel Macron in French Presidential Election further strengthened the Euro zone specially more European reconciliation with France resulting more stronger Euro. Later Euro surged above $ 1.11 And hit $ 1.1129 its highest since November 9. On Thursday Euro hit against the Dollar to $ 1.1155 its highest level since November 9.
|
TECHNICAL STUDY USING LUTFI MAGNET THEORY (EUR/USD)
|
|||||||
|---|---|---|---|---|---|---|---|
|
TIME
|
S3
|
S2
|
S1
|
MAGNET POINT
|
R1
|
R2
|
R3
|
|
WEEKLY
|
1.0650
|
1.0744
|
1.0837
|
1.0931
|
1.1024
|
1.1118
|
1.1211
|
|
EUR/USD
|
OPEN
|
HIGH
|
LOW
|
CLOSE
|
CHANGE
|
|---|---|---|---|---|---|
|
WEEKLY
|
1.0931
|
1.1197
|
1.0923
|
1.1247
|
2.9091
|
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USD/JPY WEEKLY OVERVIEW
On Wednesday, the Dollar dipped to its lowest level against the Yen since May 1 as much as 1.35 % against the Yen touching level of 111.57 Yen from 112 Yen due to reports that US President Donald Trump could face the threats of impeachment due to his involvements of undisclosed meetings with Russians during his Election Campaign. The Yen rose to a more than three weeks high. The Dollar was last up 0.3 % to 111.15 Yen.
|
TECHNICAL STUDY USING LUTFI MAGNET THEORY (USD/JPY)
|
|||||||
|---|---|---|---|---|---|---|---|
|
TIME
|
S3
|
S2
|
S1
|
MAGNET POINT
|
R1
|
R2
|
R3
|
|
WEEKLY
|
110.32
|
111.34
|
112.34
|
113.36
|
114.36
|
115.38
|
116.38
|
|
USD/JPY
|
OPEN
|
HIGH
|
LOW
|
CLOSE
|
CHANGE
|
|---|---|---|---|---|---|
|
WEEKLY
|
113.14
|
113.84
|
110.24
|
114.64
|
1.3257
|
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GOLD WEEKLY OVERVIEW
Gold prices surged vitally as US Political scenario, weaker economic data from US, volatile missile test issue of North Korea and fear of more Cyber-attacks globally, enhanced the demand for Gold as safe heaven as compared to weaker Dollar. On Monday spot Gold was up 0.4 % at $ 1233.69 an ounce whereas interest rates tends to boost the Dollar & push bond yields up, putting pressure on Gold prices by increasing the opportunity cost of holding non yielding bullion. More over this week Gold demand has strengthened in China and India. On Wednesday due to US Political Scenario and reduced expected hike in interest rates this year dipped the Dollar to its lowest in 6 months. On Thursday spot Gold rose and was up by 1.8% at $ 1258.88 an ounce whereas US Gold futures settled up 1.8 % at $ 1258.70.
|
TECHNICAL STUDY USING LUTFI MAGNET THEORY (GOLD)
|
|||||||
|---|---|---|---|---|---|---|---|
|
TIME
|
S3
|
S2
|
S1
|
MAGNET POINT
|
R1
|
R2
|
R3
|
|
WEEKLY
|
1193.1
|
1203.7
|
1215.70
|
1226.3
|
1238.30
|
1248.9
|
1260.9
|
|
USD/JPY
|
OPEN
|
HIGH
|
LOW
|
CLOSE
|
CHANGE
|
|---|---|---|---|---|---|
|
WEEKLY
|
1210.4
|
1236.9
|
1214.3
|
1227.7
|
1.4292
|
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OIL WEEKLY OVERVIEW
Oil rose 2% to $ 52 a barrel to its highest in more than 3 weeks on Monday, after a policy statement from Saudi Arabia and Russia in which they agreed to keep continue Oil supply cut in the year 2018 too. Whereas Oil Prices rose to some extent on Thursday as all OPEC Countries and Non OPEC Countries including Russia has agreed to extend supply cut next year too. Brent crude settled 30 cents up at $ 52.51 a barrel whereas US crude Oil settled at $ 49.35 a barrel.
|
TECHNICAL STUDY USING LUTFI MAGNET THEORY (Oil)
|
|||||||
|---|---|---|---|---|---|---|---|
|
TIME
|
S3
|
S2
|
S1
|
MAGNET POINT
|
R1
|
R2
|
R3
|
|
WEEKLY
|
43.48
|
44.51
|
46.17
|
47.20
|
48.86
|
49.89
|
51.55
|
|
USD/JPY
|
OPEN
|
HIGH
|
LOW
|
CLOSE
|
CHANGE
|
|---|---|---|---|---|---|
|
WEEKLY
|
45.50
|
48.22
|
45.53
|
47.84
|
5.1428
|
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[box type=”info” align=”” class=”” width=””]ISMAR Financial – MUJEEB UR REHMAN KHAN – Director, Corporate Affairs[/box]
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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]