Market analysis 31 july 2017

By | July 31, 2017

Crude oil analysis

Oil prices are trading near 50$ as it opened a little higher today . Currently a good resistance on daily chart stands at 50.50$ . If traders take this hurdle out and manage to sustain trade above our resistance today . Then expect more firepower in this black gold upto 51.30$ – 52$ today .

A good support on daily chart stands at 48.80$ . If traders take this base out and manage to sustain trade below our support today . Then expect some pressure in this major commodity upto 48$ – 47$ today .

Crude oil analysis conclusion : Trend is positive for now in this commodity . Avoid any selling till our support is intact .

USD/JPY analysis

USD/JPY trading at 110.60 . A good resistance on daily chart stands at 111.02 today . If traders pull this hurdle and manage to sustain trade above our resistance today . Then expect more firepower from this forex pair buyers upto 111.45 – 111.90 today .

A good support on daily chart stands at 109.90 . If traders take this base out and manage to sustain trade below our support today . Then expect more pressure in this major fx pair upto 109.40 – 109 today .

USD/JPY analysis conclusion : This forex pair is looking for a small bounce . Avoid any selling for now .

More will update to our trading signals subscribers .

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