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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
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
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
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
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
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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