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CRUDE OIL Drifting

Crude oil is drifting after break declining trendline. Strong resistance can be found at 50.41 (31/07/2017). Hourly support is given at 45.40 (17/08/2017 high). Expected to show continued short-term bearish move.

In the long-term, crude oil has recovered after its sharp decline last year. However, we consider that further weakness are very likely. Strong support lies at 35.24 (05/04/2016) while resistance can now be found at 55.24 (03/01/2017 high).

SILVER Bullish Pause

Silver has broken its key resistance at 17.75 opening the way for a test of the strong resistance at 18.65 (17/04/2017 high) while support can be found at 16.58 (15/08/2017 high). The commodity lies in an uptrend channel. Expected to show another leg higher.

In the long-term, the trend is rater negative. Further downsides are very likely. Resistance is located at 25.11 (28/08/2013 high). Strong support can be found at 11.75 (20/04/2009).

GOLD Still Bullish

Gold is preparing to challenge strong resistance at 1340 which would open the way for further medium term strength.. Hourly support is given at a distance 1326 (gap low). Stronger support lies at 1204 (10/07/2017 high). Expected to show continued increase.

In the long-term, the technical structure suggests that there is a growing upside momentum. A break of 1392 (17/03/2014) is necessary ton confirm it, A major support can be found at 1045 (05/02/2010 low).

BITCOIN Bouncing

Bitcoin has set a new all-time high but since declined confirming increasing selling pressures. Monitor the key support at 4480. Strong support lies very far at 3599 (22/08/2017 low). Key resistance can be located at 4921.

In the long-term, the digital currency has had an exponential growth. There are decent likelihood that the asset will reach $10'000.

EUR/CHF Challenging Its Rising Trendline

EUR/CHF remains weak as can be seen by the break of rising trendline. Hourly resistance lies at 1.1538 (04/08/2017 high). Hourly support is located at 1.1362 (25/08/2017 base low). Expected to show further bearishness.

In the longer term, the technical structure has reversed. Strong resistance is given at 1.20 (level before the unpeg). Yet, the ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).

EUR/GBP Bouncing Of Key Support At 0.9142

EUR/GBP has weakened thru uptrend but support at 0.9142 should hold. Hourly resistance lies at 0.9306 (29/07/2017 high). Hourly support is given at 0.9189 (24/08/2017 low).

In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading above from its 200 DMA. Strong resistance can be found at 0.9500 (psychological level).

AUD/USD Rising Towards The Strong Resistance At 0.7986

AUD/USD has bounced off uptrend support, opening the way for a test of strong resistance at 0.7986. Hourly support can be found at 0.7786 (18/07/2017 low). Hourly resistance is given at 0.8066 (27/07/2017 high). Expected to further consolidate.

In the long-term, the trend is largely negative since 2011. Key supports stands at 0.6009 (31/10/2008 low) . A break of the key resistance at 0.8295 (15/01/2015 high) is needed to invalidate our long-term bearish view.

USD/CAD Bounce Is Weak

USD/CAD selling pressures are back after breaking hourly support at 1.2414 (27/07/2017 low). Resistance is now given at a distance at 1.2778 (15/08/2017 low). Expected to show continued short-term bearish pressures if resistance at 1.2778 holds.

In the longer term, the pair has broken longterm support that can be found at 1.2461 (16/03/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head further lower.

USD/CHF No Pickup In Buying Interest Thus Far

USD/CHF has broken the key support area between 10.9600 and 0.9570 confirming persistent selling pressures. Strong resistance is given at 0.9771 (15/06/2017 high). The pair is likely to head further lower below 0.9500. Expected to show renewed bearish pressures.

In the long-term, the pair is still trading in range since 2011 despite some turmoil when the SNB unpegged the CHF. Key support can be found 0.8986 (30/01/2015 low). The technical structure favours nonetheless a long term bullish bias since the unpeg in January 2015.

USD/JPY Remains Weak

USD/JPY demand running into solid selling pressure. The pair has failed to test resistance at 111.05 (04/08/2017 high). Support is located at 108.13 (14/06/2017 low). Expected to show further downside pressures.

We favor a long-term bearish bias. Support is now given at 99.02 (10/08/2013 low). A gradual rise towards the major resistance at 125.86 (05/06/2015 high) seems unlikely. Expected to decline further support at 93.79 (13/06/2013 low).