Financial market research and analysis

EURUSD rose to 1.1300 resistance on Friday morning. Surpassing this level, the pair could climb to 1.1365 (August 18th high) and target the 1.1500 mark. The Jackson Hole symposium and Fed Chair Yellen speech might provide a renewed strength to the US dollar. Breaking the 1.1244 support (August 24th low), EURUSD could drop to 1.1207/1.1200 (100-day moving average) and to the critical 1.1150 (200-day moving average).

USDJPY moves on the sidelines right above 100.40. Rising above 100.93 (August 22nd high), the pair could find new momentum to the upside toward 101.45 resistance (August 15th high), then to 102.65 (August 8th high & 50-day moving average). Breaking below the 100.00 support could cause a drop to 99.53 (August 16th low) and 98.99 (June 24th low).

Cable is gaining on Friday morning, on the back of the broad based US dollar weakness. The pair is trading above the 1.3200. Should trend and momentum indicators remain intact before and after Yellen’s speech, we could expect a new rise to 1.3370 resistance (August 3rd high), before the 1.3500 mark. Breaking the 1.3146 support (50-day moving average) could cause a new sell-off to 1.3030/1.3000 (August 21st low).

The Aussie traded on the sidelines at about the 0.7600 mark for the past week. AUDUSD advanced to 0.7630, due to the broad based US dollar sell-off. Surpassing the 0.7654 resistance (August 23rd high), the pair could attempt a new rise to 0.7700 / 0.7755 (August 10th high). A break below the 0.7575 (50-day moving average) support, could cause a drop to 0.7500 then to 0.7460 (100-day moving average).

After a week of declines, Gold recovered to $1325 on Friday. Climbing above $1344 (weekly high), the precious metal could find new strength and extend to 1358 (August 16th high) before 1374 (July 11th high). Breaking below the $1317 (August 25th low) could cause a further drop to $1310 (July 21st low), then to $1300 and $1295 (100-day moving average.

Oil is trading mixed on Friday morning, after Saudi Arabia tempered speculation on output freeze in September meeting. WTI is trading at $47.30. Breaking above the $47.45 resistance (200-day moving average) could cause a recovery to $48.30 (August 23rd high), then to $49.35 (August 19th high) before $50. Breaking below the $47 ( also 50-day moving average), WTI could retreat to $46.40 (August 25th low), then to $45/45.05 (August 15th low)