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Forex market analysis

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February 2019

AUDUSD

The pair is in downtrend following the publication of minutes of the latest RBA monetary policy meeting which revealed that the bank isn’t hurrying to hike interest rates in the foreseeable future.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages ...

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AUDUSD

The pair is in downtrend following the publication of minutes of the latest RBA monetary policy meeting which revealed that the bank isn’t hurrying to hike interest rates in the foreseeable future.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages intercross and suggest selling. RSI is passing the level of 50% and also signals to sell. Stoch have entered the oversold territory.

Trading recommendations:

Sell the pair after is goes below 0.7105 with a possible target of 0.7150–55.

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The US dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound to its third-lowest session since February 11 against the Japanese yen amid a lack of economic data by the Japanese economy, the third largest economy in the world and on the brink of ...

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The US dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound to its third-lowest session since February 11 against the Japanese yen amid a lack of economic data by the Japanese economy, the third largest economy in the world and on the brink of economic developments and data expected Tuesday By the US economy, the world's largest economy.

At 05:52 GMT, the USDJPY rose 0.01% to 110.63 from the opening levels at 110.62 after the pair reached a high of 110.70 and a low of 110.45.

Investors are looking for a housing index reading by the National Association of Home Builders, which may reflect a widening of 59 to 58 in January. Markets are looking forward Wednesday to unveil the minutes of the last FOMC meeting, Committee members set interest rates at between 2.25% and 2.50% and proceed with reducing bond buybacks.

Technical Analysis

The USD / JPY pair has been trading sideways and narrow since yesterday and maintains its stability above 110.24, keeping the bullish scenario intact for the coming period supported by the 50 SMA, awaiting positive momentum enough to push the price to 111.56 which is our next target, Reminding the importance of stability above 110.24 for the continuation of the expected rise.

The trading range for today is expected among the key support at 109.80 and the resistance at 111.30

The general trend for today is bullish

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Google shares are still moving within the ascending channel that has been moving since the beginning of the year as the price fluctuates around the resistance level at 1127.23 in a bullish upward path

Moving averages support this bullish movement as we have a bullish order of the moving ...

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Google shares are still moving within the ascending channel that has been moving since the beginning of the year as the price fluctuates around the resistance level at 1127.23 in a bullish upward path

Moving averages support this bullish movement as we have a bullish order of the moving averages 7-20-50 below the price to give it stability and support to continue the upside.

Stochastic in the ascending path gives a signal for the readiness of the cross and therefore if this is done we are expected to see a correction of the price towards the minimum of the ascending channel.

The range of motion between support 1090.00 and resistance: 1160.00

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Gold futures rose during the Asian session to witness the highest since April 20, shedding the dollar index for the first time in four sessions according to the inverse relationship between them on the eve of developments and economic data expected Tuesday by the US economy, the largest economy in ...

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Gold futures rose during the Asian session to witness the highest since April 20, shedding the dollar index for the first time in four sessions according to the inverse relationship between them on the eve of developments and economic data expected Tuesday by the US economy, the largest economy in the world and central Looking forward to completing the China-US trade talks in Washington.

Gold futures for April delivery rose 0.21% to currently trade at $ 1,327.80 per ounce, the highest in ten months compared to the opening at $ 1,325.00 an ounce, while the dollar index rose 0.06% Levels of 96.87 compared to the opening at 96.81.

Investors are eyeing the US economy for a housing index reading by the National Association of Home Builders, which may reflect a widening to 59 versus 58 in January. We also look forward Wednesday to unveil the minutes of the FOMC meeting held on 29-30 of Last month in which the members of the committee approved the stabilization of interest rates between 2.25% and 2.50% and move forward in reducing bond buybacks.

In a press conference following the FOMC meeting at the end of last month, Governor of the Federal Reserve Jerome Powell noted that the Federal Reserve will be patient and monitor economic data as rising downside risks to the economy stem from global growth and financial market volatility, Explaining that the continuation of that approach will depend on the economic data during the coming period.

In the same context, the Federal Reserve Governor Paul said last Tuesday that economic data confirm that the US economy is in a good position and that unemployment rates are stabilizing at the lowest in half a century, with the fact that there are some groups in American society do not feel prosperous after , And that the reflection of interest movements on the markets takes some time, saying he did not see the risks of economic recession high.

On the other hand, we have followed last week, the Russian Ministry of Economy announced that the production of Russia's gold last year 2018 rise to 314.42 tons compared to 306.9 tons in 2017, less than a month after the World Gold Council statistics at the end of last month to Russia was the most gold-buying country in 2018 as it sought to reduce dependence on the US dollar because of US sanctions.

According to the World Gold Council, global central bank purchases of gold rose during the year 2018 to their highest level since 1967. Purchases rose to 651.5 metric tons, up 74% from 2017 at 375 metric tons, Of the countries to buy the yellow metal topped by Russia by 274 metric tons, which overtook China, the largest consumer of metals globally and inspire both Poland and Kazakhstan.

Global gold consumption rose to 4,345.1 metric tons last year from 4,159.9 metric tons in 2017. Retail investment in bullion and gold coins rose 4 percent to 1,090.2 metric tons, supported by Iran's demand increase of 222 percent to 62 metric tons, Demand for jewelry has stabilized at around 2,200 metric tons with increased consumption compensation in both China, the United States and Russia for lower demand from the Middle East and India.

In contrast, the demand for financial institutions fell by 67% from the year 2017, when the world supply of gold increased 1% to a total of 4,490.2 metric tons in 2018. The gold futures contracts last month made the fourth monthly gain, respectively, illustrated Has seen its longest monthly gains since late 2010, after ending its longest monthly loss march since late 1996.

Technical Analysis

The price of gold shows sideways and narrow range trading around 1325.00, where the price is affected by stochastic negativity, awaiting the release of negative momentum and gaining a positive momentum enough to push the price to resume the expected bullish wave for the coming period, which is organized inside the ascending channel shown in the image.

SMA 50 continues to support the pair from the bottom, to continue the bullishness for today, provided stability above 1314.00 and 1307.00 while waiting to target the levels of 1347.50 and 1365.05 as the next major stations.

The trading range for today is among the key support at 1310.00 and resistance at 1347.00

Support and resistance:

Support: 1317.24-1314.04-1306.04

Resistance: 1326.34-1338.70

The general trend for today is bullish

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The single currency of the European Union region fluctuated in a tight range in the Asian session against the US dollar on the eve of economic developments and data expected Tuesday by the economies of the euro area and the US economy, the largest economy in the world, especially after ...

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The single currency of the European Union region fluctuated in a tight range in the Asian session against the US dollar on the eve of economic developments and data expected Tuesday by the economies of the euro area and the US economy, the largest economy in the world, especially after the US Department of Commerce submitted the White House tariff report For signing the report and the report on the readiness of the European Commission to respond to the United States in the event of raising tariffs on European cars.

At 4:16 am GMT, the EURUSD rose 0.13% to 1.1296, compared to the opening at 1.1311 after the pair hit a session low of 1.1294 and a high of 1.1314.

Markets are looking for the Euro-zone economy as a whole to release the seasonally adjusted current account index, which could reflect a widening of the surplus to 21.4 billion euros from 20.3 billion euros in November before we see the ZEW economic confidence survey for Germany and the economies of the region as a whole. The shrinking contraction in Germany may reflect 14.1 versus 15.0 in the region as a whole to 18.2 versus 20.9 in January.

On the other hand, investors are looking ahead to the US housing index to be released by the National Association of Home Builders, which may reflect a widening to 59 versus 58 in January. Markets are looking forward Wednesday to unveil the minutes of the last FOMC meeting, In which the members of the Committee approved the stabilization of interest rates between 2.25% and 2.50% and proceeded to reduce bond repurchases.

Technical Analysis


The EURUSD opens today's trading session with a bearish bias to avoid resistance to the descending channel appearing in the image, supporting the continuation of the upcoming bearish scenario for the coming period, targeting 1.1180 as the next major station.

SMA 50 supports the suggested bearish wave, noting that stability below 1.1320 represents the first condition for the continuation of the suggested negative scenario.

The trading range for today is expected between 1.1200 and 1.1360 support

Support and resistance:

Support: 1.1257-1.1181

Resistance: 1.1300-1.1357-1.1386

The general trend for today is bearish

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The Australian dollar fluctuated in a tight range slipping towards the greenback during the Asian session against the US dollar to see its rebound for the second consecutive session of its highest since February 6 following the economic developments and data that followed on the Australian economy and on the ...

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The Australian dollar fluctuated in a tight range slipping towards the greenback during the Asian session against the US dollar to see its rebound for the second consecutive session of its highest since February 6 following the economic developments and data that followed on the Australian economy and on the eve of developments and economic data expected on Tuesday by the US economy.

At 02:15 GMT, the Australian dollar fell 0.08% to 0.7124 compared to the opening levels of 0.7130, after recording a low of 0.7115, while the highest level at 0.7144.

We have followed the Australian economy to disclose the minutes of the Reserve Bank of Australia's meeting held on the 5th of this month, in which the monetary policymakers agreed to set interest rates at 1.50% for the 28th meeting in a row, which was in line with analysts' expectations at the time, Australian Central Bank Governor Philip Lowe said the outlook for the interest rate was broadly balanced.

Which was then priced in the markets as cautionary comments from the Reserve Bank of Australia. "Over the past year, it was a scenario that the next step up is likely on the scenario that the next step is reduced, and today the odds are moderately balanced," he said. The labor market is stronger and more hawkish, as interest rates may rise, while any weakness in the labor market will hurt the Reserve Bank of Australia to reassess the situation.

On the other hand, investors are looking ahead to the US housing index to be released by the National Association of Home Builders, which may reflect a widening to 59 versus 58 in January. Markets are looking forward Wednesday to unveil the minutes of the last FOMC meeting, in which the members of the Committee approved the stabilization of interest rates between 2.25% and 2.50% and proceeded to reduce bond repurchases.

Technical analysis:


AUDUSD traded lower after touching the bullish sub-channel shown in the image to break the 0.7135 level and settle below it. We believe that the channel is forming a bearish continuation pattern, which means that a break of 0.7085 will do the negative impact of this pattern and pressure the price to fall towards zones initially 0.7000.

On the other hand, Stochastic is showing positive signs that may protect the price from further losses, which makes it preferable to stop neutral temporarily until the price confirms the breach of the mentioned support or break the resistance at 0.7165, noting that breaching this resistance will push the price for gains up to 0.7220 and 0.7300 respectively.

The trading range for today is expected among the support at 0.7050 and the resistance at 0.7165.

The expected general trend for today: neutral.

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Sberbank failed to attempt to breach the 217.78 resistance level again as the price retested the previous resistance level again and failed to breach to bounce back towards the support level 201.86. The 50 MA is a support level near the 200.00 level.

Stochastic is at a ...

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Sberbank failed to attempt to breach the 217.78 resistance level again as the price retested the previous resistance level again and failed to breach to bounce back towards the support level 201.86. The 50 MA is a support level near the 200.00 level.

Stochastic is at a negative cross and may be a negative pressure on the price to push it lower. The expected movement between the support is 193.50 and the resistance 225.05.

In general, we will keep the overall trend bullish and consider the previous movement is a correction movement of the ascending path but provided that the trading remains above the level of 200.00

The general direction of movement: neutral.

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The US dollar fluctuated in a narrow bullish range during the Asian session to see its rebound to its second-lowest session since February 11 against the Japanese Yen following developments and economic data followed Monday by the Japanese economy and amid the absence of the US market earlier this week ...

Read more...

The US dollar fluctuated in a narrow bullish range during the Asian session to see its rebound to its second-lowest session since February 11 against the Japanese Yen following developments and economic data followed Monday by the Japanese economy and amid the absence of the US market earlier this week due to holiday Presidents' Day in the United States.

At 05:55 GMT, the pair rose 0.03% to 110.53 compared with the opening levels at 110.47 after the pair reached a high of 110.58 and a low of 110.39.

On the Japanese economy, the world's third-largest economy saw a reading of the Machine Rate Index, which showed a 0.1% drop from last week's zero, as opposed to expectations of a 1.1% decline, while the annual reading of the index itself widened to 0.9 Versus 0.8% in the previous reading for the month of November, below expectations of 3.40%.

The Japanese government announced earlier this month a ten-day holiday from Saturday 27 April to Monday, May 6 next year for the celebrations of Japan's rise of the new emperor to rule there during the official holiday, and that to be crowned Crown Prince at the beginning of May, and we wish to point out that this six-day holiday will be the longest in Japan's history.

Technical analysis:


The USD/JPY pair started to rebound after testing the 110.24 level in the last sessions, supported by SMA 50 that protects the mentioned level, awaiting further upside in the coming sessions, with our next target at 111.56.

Keep in mind that a break of 110.24 will halt the expected rally and pressure the price to initially target areas of 109.16. The trading range for today is expected among the support at 110.00 and the resistance at 111.30.

The general trend for today is bullish.

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Gold futures rallied during the Asian session, their highest since April 20 as the US dollar index fell for the second consecutive session from its highest since December 17 according to the inverse relationship between them amid the absence of the US market on Monday because of holiday President's ...

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Gold futures rallied during the Asian session, their highest since April 20 as the US dollar index fell for the second consecutive session from its highest since December 17 according to the inverse relationship between them amid the absence of the US market on Monday because of holiday President's Day in the United States and with the aspiration to complete the China-US trade talks in Washington.

At 04:04 am GMT, gold futures for April delivery fell 0.22% to currently trade at $ 1,328.00 an ounce, the highest in ten months compared with the opening at $ 1,325.00 an ounce, amid the decline of the US dollar index 0.05% to 96.75 levels, showing a rebound from the top in two months compared to the opening at 96.81.

Gold prices continue to benefit from the dollar's slide at the end of last week and earlier this week following disappointing economic data from the world's largest economy, which may later be reflected in the decisions and directions of monetary policymakers at the Fed and following the announcement by US President Donald Trump National emergency, while objecting to insufficient funding for the construction of the border wall with Mexico by Congress.

On Friday, US President Trump signed a US federal government funding bill that blocked his country from a new government closure but objected to Congress allocating $ 1,375 million to the $ 5.7 billion needed to complete the US border wall with Mexico. Prompting him to declare a state of emergency that allowed him $ 8 billion to finance the border wall.

Otherwise, President Trump also noted on Friday that trade talks with China were going very well and that he would be happy to cancel tariffs if the agreement was reached between the world's top economists to avoid a rise in trade protectionism and a trade war. He said that there is a possibility of extending the trade truce between China and China.

On the other hand, Chinese President Shi Jinping also said on Friday that trade talks between his country and the United States will be completed in Washington this week, adding that he hoped that negotiators by the two sides will reach a trade agreement ending the escalation of trade protection expected with the expiration of the truce of trade between his country And the United States by the beginning of next month.

On the other hand, investors are looking ahead to the US economy later this week to reveal the minutes of the Federal Open Market Committee meeting on 29-30 January, during which Fed policymakers kept interest rates at 2.25% And 2.50% as the bond repurchase moves down by $ 50 billion per month.

The Russian Ministry of Economy announced last week that Russia's production of gold rose in the last year 2018 to 314.42 tons compared with 306.9 tons in 2017, less than a month after the World Gold Council's statistics at the end of last month said that Russia Was the most gold-buying country in 2018 as it sought to reduce dependence on the US dollar because of US sanctions.

According to the World Gold Council, global central bank purchases of gold rose during the year 2018 to their highest level since 1967. Purchases rose to 651.5 metric tons, up 74% from 2017 at 375 metric tons, Of the countries to buy the yellow metal topped by Russia by 274 metric tons, which overtook China, the largest consumer of metals globally and inspire both Poland and Kazakhstan.

Global gold consumption rose to 4,345.1 metric tons last year from 4,159.9 metric tons in 2017. Retail investment in bullion and gold coins rose 4 percent to 1,090.2 metric tons, supported by Iran's demand increase of 222 percent to 62 metric tons, Demand for jewelry has stabilized at around 2,200 metric tons with increased consumption compensation in both China, the United States and Russia for lower demand from the Middle East and India.

In contrast, the demand for financial institutions fell by 67% from the year 2017, when the world supply of gold increased 1% to a total of 4,490.2 metric tons in 2018. The gold futures contracts last month made the fourth monthly gain, respectively, illustrated Has seen its longest monthly gains since late 2010, after ending its longest monthly loss march since late 1996.

Technical analysis:


The price of gold has breached the 1316.65 level after ending last week's trading above it, aiming to achieve further gains expected over the coming period, consistently within the ascending channel it has been trading since last November supported by SMA 50 and SMA 7 over the medium term.

Stochastic in the overbought area in a sideways path leaving this area will result in a correction towards the MA 7. Noting that our next targets are at 1347.50 and 1365.05. Keep in mind that the continuation of the suggested bullish wave depends on stability above 1305.00.

The trading range for today is among the key support at 1310.00 and resistance at 1347.00. 

Support and resistance:

  • Support: 1317.24-1313.04-1310.00;
  • Resistance: 1332.00-1338.70.

The expected general trend for today: bullish.

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The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its rebound to its second-lowest session since November 13 against the US dollar on the eve of developments and economic data expected on Monday by the biggest eurozone economies. The ...

Read more...

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its rebound to its second-lowest session since November 13 against the US dollar on the eve of developments and economic data expected on Monday by the biggest eurozone economies. The US market was absent earlier this week due to the Presidents' Day holiday in the United States.

At 05:18 GMT, the EURUSD rose 0.15% to 1.1313 compared to the opening at 1.1294, after reaching a high of 1.1325, while reaching a low of 1.1283.

Meanwhile, the European Central Bank (ECB) member Benoit Koir expressed the view that the economic slowdown seems to be larger and deeper than expectations and that the European Central Bank should ensure that the European Central Bank Long-term refinancing serves its intended purpose, noting that the pace of growth of inflationary pressures will be lower than expected.

In the same vein, Cower noted that the Bank of England was working intensively to plan the UK exit from the EU without an agreement, stating that Italy's current situation was not a threat to the eurozone. Otherwise, some of the reports touched on Spanish Prime Minister Pedro Chávez Will hold early elections in Spain on April 28 to choose a new government following the Spanish parliament's rejection of his government's proposal for the 2019 budget.

Technical analysis:


The EUR / USD pair continues to show positive trading above the 1.1300 barrier, accompanied by signs of overbought areas through Stochastic, and SMA 50 is pushing the pair lower, supporting the downside potential to resume the expected bearishness over intraday and short term basis.

Our next target is at 1.1180, keeping in mind that a break of 1.1320 could push the pair to achieve further intraday gains of 1.1370 and extend to 1.1443 before deciding more clearly next.

The trading range for today is expected between 1.1200 and 1.1370 support.

The general trend for today is bearish.

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