Weekly Analysis of 1-5 August:: Eur to 1.4500, Gold 1650

USDJPY 

try to weaken last week and down towards the 77.01 level on Friday because Congress as the negotiations reached an impasse, we see that the congress as a result of the agreement will determine the trend this week, although the level of support important in the range of 76.50 looks impenetrable, prices have climbed back above 79.30 to begin a bullish trend. 

EURUSD 

stabilized above 1.4250 with a huge buying interest, this week, we expect the trend to consolidate and move up to the 1.4450-1.4500 area. the market can move higher even than 1.4550 if as successful raise debt limit, na, however, caution against drastic decline if the trend penetrate and survive under 1.4280 in the week.

GBPUSD

jumped last Friday as fears of debt as and unexpectedly touching above the 1.6450 level. market seen getting strong resistance in the range of 1.6470 and if it continues to move up to touch the 1.6550 level this week,  however, this depends on the fundamental factors affecting dollar weakness as, while the strong support this week in the range of 1.6250. 

CRUDE OIL

price of WTI crude oil broke above the 100.00 level last week but quickly dropped after touching the 100.60 level. attenuation mainly due to uncertainty in the decision as raising the debt limit and Suran picture of the 2nd quarter GDP. currently, the market is getting strong support in the range of 94.80 while waiting fundamental news this week, we estimate the price of WTI crude oil can be touched again below the level in the range of 93.50 as if lawmakers fail to reach agreement this week increase the debt limit, on the other hand, the market potential consolidate up area 98.60 if the technical trend driven by good economic data.

Gold (XAU)

Gold prices hit a new high Friday at 1632.80 as target forecast in our previous report, the market has strong buying interest as investors worried about the global debt crisis in the axles and the euro zone, this week, we look to the most likely gold prices can penetrate a higher level and try to touch the area 1650. na, however, our final target at 1680.00 for the next few weeks when many funds continue to go into gold as a safe haven asset, gold is turned into a bearish trend if the gold price through the levels at 1600.00 s1!