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GBP/USD WEEKLY OVERVIEW

Pound dipped a cent below six and a half month high against dollar on Wednesday. Pound/dollar volatility rose in the pretext of declaration of new election up to June 2017 by British Prime Minister Theresa May. It is hoped that Pound is likely to continue to $ 1.30 this week. It is estimated that GBP is about 11% below its long term fair value on real exchange rate basis. GBP/USD was down to 0.47% at $1.2780 on Thursday whereas GBP slid to five month troughs of 136.05 Yen.

TECHNICAL STUDY USING LUTFI MAGNET THEORY (GBP/USD)
TIME
S3
S2
S1
MAGNET POINT
R1
R2
R3
WEEKLY
1.1966
1.2356
1.2586
1.2745
1.2976
1.3135
1.3525
GBP/USD
OPEN
HIGH
LOW
CLOSE
CHANGE
WEEKLY
1.25296
1.29045
1.25148
1.28168
2.2941
EUR/USD WEEKLY OVERVIEW

On Monday Euro was at $ 1.0622. The Euro rose to 0.52% three week high against the Dollar on Thursday at $ 1.0765. the Euro slid to five months troughs of 114.95 Yen. According to reports Euro zone economic growth hit a fresh six year high in April. Job creation also Rose to the highest operating capacity.

Euro zone PMI composite output index at 56.7.

Euro zone PMI services activity index at 56.2.

Euro zone PMI manufacturing index at 58.0.

Growth accelerated in both manufacturing and services to the highest since April 2011.

TECHNICAL STUDY USING LUTFI MAGNET THEORY (EUR/USD)
TIME
S3
S2
S1
MAGNET POINT
R1
R2
R3
WEEKLY

1.0352

1.0527

1.0626

1.0701

1.0801

1.0876

1.1051

EUR/USD
OPEN
HIGH
LOW
CLOSE
CHANGE
WEEKLY

1.06163

1.07768

1.06020

1.07252

1.0457

USD/JPY WEEKLY OVERVIEW

The Dollar dipped to a five month low against the Yen on Monday due to rising tension over North Korea and US conflict. The Dollar index was down 0.2% at 100.390. The Dollar losses and retreated to 1.8.135 Yen. However the Dollar gain over night against Yen on comments of US treasury Secretory.

TECHNICAL STUDY USING LUTFI MAGNET THEORY (USD/JPY)
TIME
S3
S2
S1
MAGNET POINT
R1
R2
R3
WEEKLY
106.2027
107.5607
108.3563
108.9187
109.7143
110.2767
111.6347
USD/JPY
OPEN
HIGH
LOW
CLOSE
CHANGE
WEEKLY
108.690
109.481
108.123
109.152
0.4240

 

GOLD WEEKLY OVERVIEW

Gold hit up to a five month high on Monday. As investors took much interest to buy gold in the pretext of North Korea and US conflict. Spot Gold was up 0.4% at $ 1290.40 an ounce. Gold Steadied on Thursday after its biggest one day Drop in more than six weeks. On Thursday spot gold rate was $ 1279.96 an ounce. US Gold future for June delivery were at $ 1281.50 an ounce.

TECHNICAL STUDY USING LUTFI MAGNET THEORY (GOLD)
TIME
S3
S2
S1
MAGNET POINT
R1
R2
R3
WEEKLY
1240.15
1261.61
1270.76
1283.07
1292.22
1304.53
1325.99
USD/JPY
OPEN
HIGH
LOW
CLOSE
CHANGE
WEEKLY
1290.23
1295.38
1273.92
1279.92
0.7940
OIL WEEKLY OVERVIEW

Oil prices downed on Tuesday touching their lowest in Eleven Day as bearish trend prevails due to declaration of biggest shale output by US authorities in the month of May. On the other hand OPEC countries along with Russia announced to continue their cut in oil output. Brent was down 28 cent trading at $ 55.08 a barrel on Tuesday. On Thursday, there was mixed reaction in Oil prices as OPEC members and Russia would likely to extend oil output cut beyond June. Brent futures were up ten cents to $ 53.03 a barrel wheras crude prices dipped more than 3.9 %.

TECHNICAL STUDY USING LUTFI MAGNET THEORY (Oil)
TIME
S3
S2
S1
MAGNET POINT
R1
R2
R3
WEEKLY
47.7800
50.7300
54.9933
51.8500
54.8000
56.6300
59.5800
USD/JPY
OPEN
HIGH
LOW
CLOSE
CHANGE
WEEKLY
55.45
55.51
52.56
52.97
4.4744
ISMAR Financial – MUJEEB UR REHMAN KHAN – Director, Corporate Affairs

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.

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