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Valutrades Market Blast Fundamentals 12 August 2019

   

Welcome to this week’s Market Blast Technicals where we will look at EURUSD, EURJPY, the USD Majors, Gold (XAUUSD), GBPUSD and the Pound Crosses.

12 August 2019 Fundamentals

 

Looking at the Daily charts on Pound Sterling, we see we are at yearly extremes with Brexit uncertainty and bad GDP figures from last week.

 

Screenshot 2019-08-12 09.32.06

 

This week will tell us a lot with tomorrow’s Claimant Count Change and Thursday’s Retail Sales and we may see the Pound declining further with bad figures and we need to go to the Weekly charts now to find key levels.

Screenshot 2019-08-12 09.31.26

 

As well, only the Weekly Chart on Gold will show us key levels on Gold from years ago.

 

Increased geo-political tensions and trade disputes may see us breaking $1500 and heading for $1525 and, better news has us looking at levels fo support in the $1400’s.

 

The USD is strong against EUR, NZD, AUD, GBP and CAD but weak against CHF, JPY and Gold.

Economists and analysts are waiting for this week’s economic news on US Retail Sales to get a better picture on the US economy.

 

The outlook for the Euro is bearish so watch for breaks of support against the USD and JPY

 

That’s all for now. Happy trading with Valutrades and we will see you tomorrow.

CFDs and FX are leveraged products and your capital may be at risk.

Disclaimer:

The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice. If such information is acted upon by you then this should be solely at your discretion and Valutrades will not be held accountable in any way.

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