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December 2018

There has been no change in the price of Sberbank share as the stock continues to fluctuate within the triangle and wait for a break in the triangle to confirm the trend.

The moving averages are trading in a sideways path where the SMA 50 is support for the price ...

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There has been no change in the price of Sberbank share as the stock continues to fluctuate within the triangle and wait for a break in the triangle to confirm the trend.

The moving averages are trading in a sideways path where the SMA 50 is support for the price while SMA 20 is resistance

The Stochastic has formed a bearish cross at the beginning of last week and is currently on a downtrend heading towards the oversold area.

The MACD is trading above the zero line but is in a bearish direction and this line is expected to be breached this week.

In general, there is no clear direction for the long-term price movement and wait for the breach to confirm the trend.

Support and resistance:

Support: 193.15-186.00-179.20;

Resistance: 206.00-215.00.

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Gold futures fluctuated in a tight range in the Asian session, the highest since July 11, as the US dollar index fell to its lowest level since November 22, according to the latest economic developments. The world's largest consumer of metals and its Japanese counterpart, the world's third ...

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Gold futures fluctuated in a tight range in the Asian session, the highest since July 11, as the US dollar index fell to its lowest level since November 22, according to the latest economic developments. The world's largest consumer of metals and its Japanese counterpart, the world's third largest economy, on the brink of economic developments and data expected Monday by the US economy, the world's largest economy.

Gold futures for February delivery rose 0.14% to currently trade at $ 1,254.30 an ounce, the highest in five months compared to the opening at $ 1,252.60 an ounce, amid the decline of the US dollar 0.07% Levels of 96.44 and the lowest in three weeks compared to the opening at 96.51.

We have followed the Chinese economy reading the trade balance index, which showed a surplus of 306 billion yuan, or 44.7 billion yuan, compared to 234 billion yuan, equivalent to 34.0 billion dollars last October, contrary to expectations that the reduction of surplus To 227 billion yuan, or $ 36.2 billion, as import growth slowed to a slower pace than last month's export growth.

We also followed the Chinese economy to reveal inflation data with the release of the annual consumer price index, which showed a slowdown in growth to 2.2% compared to 2.5% the previous annual reading for the month of October, below expectations of 2.4%, and the annual reading of the PPI slowdown Growth to 2.7% compared to 3.3% in the previous annual reading, also below expectations at 2.8%.

This came before the Japanese economy saw the seasonally adjusted GDP GDP rise, which showed a contraction of 0.6% compared to the previous third quarter reading, which showed a contraction of 0.3% and 0.7% growth in the previous quarter, worse than expected. Indicated a contraction of 0.5%.

The seasonally adjusted annual GDP reading of the world's third-largest economy also showed contraction to 2.5% compared to the previous third quarter preliminary reading, which showed a 1.2% contraction versus 3.0% annualized growth in the second quarter, also worse than expected To a contraction of 2.0%.

In the same context, the annualized reading of GDP showed a stable contraction of 0.3%, unchanged from the previous preliminary reading of the third quarter, in line with expectations, and against 1.0% growth in the second quarter. This coincided with the release of the current account which showed The spread narrowed to 1.21 trillion yen from 1.33 trillion yen in September, worse than the 1.29 trillion yen forecast.

On the other hand, investors are looking for the US economy to publish a statistical reading employment opportunities and job turnover, which may reflect a rise to 7.22 million versus 7.01 million in September, coming hours after the disclosure of labor market data for the last month which showed that showed stability rates Unemployment at its lowest since 1969 at 3.7% for the third month in a row, consistent with expectations.

In the same context, the average hourly earnings report showed growth accelerated to 0.2% from 0.1% in October, below expectations of 0.3%, while the Non-Farm Employment Change Index showed a slowdown in job creation to 155,000 added jobs 237 thousand jobs added in October, worse than expectations for 198 thousand added jobs.

The growing concern over tensions between Washington and Beijing after Chinese Foreign Minister Terri Pranstad's call to the US ambassador to protest against the arrest of Huawei's chief financial officer in Canada, which could be handed over to the United States, which accuses Iran of violating its economic sanctions against Tehran, Investors and push them into safe havens, topped by gold.

Technical Analysis

Gold continued its bullish path in the medium term as it reached the upper limit of the up channel it has been trading since 16-08-2018

The resistance level is at 1251.32, where gold is expected to face resistance at this level and a rebound towards to the level 1238.30. especially that this level is at 38.2% Fibonacci retracement of the long downtrend that started on 11-04-2018. And the SMA 7 is at this level.

Thus, the bullish trend will be expected in the coming period if the 1238.30 level is not broken and stability below it.

If gold breaks the resistance level 1251.32 it will stimulate the bulls and push them to form more pressure on the price to rise towards the target 1262.80.

In case that happen we will wait to see the price movement  at that level to see if gold is in a new bullish path or is in a correction path for the downside move, we talked about as the 1262.8 level is at Fibonacci retracement of 50%.

Moving averages move up in an ideal arrange and the SMA 7 moves with the price giving it stability in the upsidetrend.

The Stochastic is moving sideways within the overbought area in a reversal of the bullish movement and we are watching any exit from this level as it will push it to the downside.

The trading range is among the key support at 1238.40 and the key resistance at 1262.80.

Support and resistance:

Support: 1238.30-1227.4-1221.90;

Resistance: 1251.30-1257.00-1262.8.

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The Australian dollar rose during the Asian session to see its coverage of the falling price gap, which started this week following the economic developments and data that followed it on the Australian economy and on the eve of developments and economic data expected Monday by the US economy, the ...

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The Australian dollar rose during the Asian session to see its coverage of the falling price gap, which started this week following the economic developments and data that followed it on the Australian economy and on the eve of developments and economic data expected Monday by the US economy, the largest economy in the world.

At 02:44 GMT, the AUD/USD rose 0.10% to 0.7215, compared to the opening levels of 0.7192, after recording a high of 0.7223, while a low of 0.7172. The pair ended last week at 0.7208.

Australian Assistant Bank of Australia Governor Christopher Kent, speaking at a Bloomberg news conference in Sydney on US monetary policy and the Australian financial situation, followed the Australian housing market data as the Home Loan Index showed a rise of 2.2% Fell 1.0% in September, beating expectations that the decline would drop to 0.5%.

On the other hand, investors are looking for the US economy to publish a statistical reading employment opportunities and job turnover, which may reflect a rise to 7.22 million versus 7.01 million in September, coming hours after the disclosure of labor market data for the last month which showed that showed stability rates Unemployment at its lowest since 1969 at 3.7% for the third month in a row, consistent with expectations.

In the same context, the average hourly earnings report showed growth accelerated to 0.2% from 0.1% in October, below expectations of 0.3%, while the Non-Farm Employment Change Index showed a slowdown in job creation to 155,000 added jobs 237 thousand jobs added in October, worse than expectations for 198 thousand added jobs.

Technical analysis:

The AUD/USD continues to trade negative and tries to break the 0.7200 level to keep the downside scenario intact for the coming sessions.  It relies on stability below 0.7277 supported by the negative pressure formed by SMA 50 noting that our next key targets are at 0.7080, then 0.7020.

The trading range for today is among the key support at 0.7140 and resistance at 0.7277.

Support and resistance:

Support: 0.7235-0.7180-0.7142-0.7044;

Resistance: 0.7276-0.7367-0.7441.

The general trend for today is bearish.

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The British pound weakened during the US session against the US dollar amid a lack of economic data by the British economy following the economic developments and data that followed last Friday the British economy and the US economy, the largest economy in the world, including the talk of the ...

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The British pound weakened during the US session against the US dollar amid a lack of economic data by the British economy following the economic developments and data that followed last Friday the British economy and the US economy, the largest economy in the world, including the talk of the Governor of the Federal Reserve and members of the Federal Commission for the open market.

We saw the Halifax house price index, that showed a drop of 1.4% from October's + 0.7%, in contrast to expectations of slower growth of 0.2%, while the same index for the last three months last month showed slower growth to 0.3% versus 1.5%, worse than expectations of 1.0%, leading to higher consumer expectations of inflation to 3.2% compared to 3.0% in the second quarter.

This came ahead of the release of US labor market data last month, that showed unemployment stabilized at its lowest level in almost five decades at 3.7% for the third month in a row, in line with expectations. The average hourly earnings showed growth accelerated to 0.2 From 0.1% in October, below expectations of 0.3%.

In the same context, the Non-Farm Employment Change Index showed a slowdown in job creation to 155,000 added jobs, compared to 237,000 in October, worse than expectations for 198,000 added jobs before the final reading of the Wholesale Inventories Index Showed a rise to 0.8% from October's preliminary reading and expectations of 0.7% versus 0.4% in September.

Technical analysis:

The GBP/USD has tested the key support at 1.2730 and has maintained its stability so far, keeping the bullish scenario intact so far, supported by Stochastic positive, awaiting the move towards 1.2962 which represents our next main target.

Moving averages above the price are pressure on it to mask the bullishness as the price trades around the SMA 7, that will form resistance to the price.

Keep in mind that a break of 1.2730 will press the price to test the 1.2636 level that represents the most important level to determine the next short- and medium-term path.

The trading range for today is expected among 1.2670 support and 1.2850 resistance.

Support and resistance:

Support: 1.2730-1.2698-1.2650;

Resistance: 1.2773-1.2823-1.2894.

The general trend for today is bullish.

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The single currency of the European Union region rose during the Asian session, its highest since November 20,2018, against the US dollar on the eve of economic developments and data expected on Monday by the economies of the euro zone and the US economy, the world's largest economy ...

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The single currency of the European Union region rose during the Asian session, its highest since November 20,2018, against the US dollar on the eve of economic developments and data expected on Monday by the economies of the euro zone and the US economy, the world's largest economy.

At 05:37 GMT, the EUR/USD rose 0.47% to 1.1433, compared with the opening at 1.1379, after reaching a three-week high of 1.1443, while the session's low was at 1.1381.

The markets are now looking at Germany's largest economy to unveil the trade balance, which could reflect a contraction of the surplus to 17.2 billion euros from 17.6 billion euros in October, ahead of the Italian Industrial Production Index, the third largest economy in the euro zone, The decline widened to 0.4% versus 0.2% in October, to reveal the Sintex Consumer Sentiment Index for the region as a whole, which showed a contraction to 8.4 versus 8.8 in November.

On the other hand, investors are looking for the US economy to publish a statistical reading employment opportunities and job turnover, which may reflect a rise to 7.22 million versus 7.01 million in September, coming hours after the disclosure of labor market data for the last month which showed that showed stability rates unemployment at its lowest since 1969 at 3.7% for the third month in a row, consistent with expectations.

In the same context, the average hourly earnings report showed growth accelerated to 0.2% from 0.1% in October, below expectations of 0.3%, while the Non-Farm Employment Change Index showed a slowdown in job creation to 155,000 added jobs 237 thousand jobs added in October, worse than expectations for 198 thousand added jobs.

Technical analysis:

The EUR/USD starts the week higher to test now the pivotal resistance 1.1443. We note that SMA 50 continues to try to push the price lower while Stochastic is in overbought areas, which is a negative factor that could push the pair lower again.

On the other hand, when we look at the chart, we will notice that the price of the pattern of the head and shoulders upside down within the rectangle. It means that the price has a positive incentive to rush to rise in the short and long term, but needs to exceed the level of 1.1443 and eliminate the negative factors to confirm the current rise.

Therefore, we prefer to stop on the neutral temporarily until we get a clearer indication of the next direction, that we will get through breaking the resistance 1.1443 or break support 1.1400, as breaking this resistance will push the price to achieve positive targets start at 1.1550 and extends to 1.1705, while breaking Support will press the pair to head towards 1.1300 and then 1.1181 as the next major stations.

The trading range for today is expected among the 1.1320 and the 1.1530 support.

Support and resistance:

Support: 1.1341-1.1294-1.1211;

Resistance: 1.1382-1.1443-1.1500.

The expected general trend for today: depends on the levels mentioned in the report.

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EURUSD

The pair is trading above 1.1415. It’s supported by the USD’s local weakness following the publication of unimpressive US employment data last Friday.

The pair is trading above the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the overbought territory and is ...

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EURUSD

The pair is trading above 1.1415. It’s supported by the USD’s local weakness following the publication of unimpressive US employment data last Friday.

The pair is trading above the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the overbought territory and is indicating weaker growth. Stoch are enternig the overbought zone.

Trading recommendations:

If the negative attitude towards the USD remains, and the pair takes hold above 1.1415, it may continue local growth up to 1.1500.

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AUDUSD

The pair is under pressure against the background of decreasing risk appetite of investors. Favorable employment data in the US may push the pair further to a limited drop.

The pair is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold territory ...

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AUDUSD

The pair is under pressure against the background of decreasing risk appetite of investors. Favorable employment data in the US may push the pair further to a limited drop.

The pair is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold territory line and is indicating weaker growth. Stoch are reversing downwards.

Trading recommendations:

If the pair passes 0.7200, it may go further down to 0.7150.

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Amazon was succeeded in rebounding from the support level 1621.2 near the SMA 20 to approach the SMA 50 which is a resistance to the price will try to prevent it from rising again and reaching the target 1806.20 where the price is trading between the moving ...

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Amazon was succeeded in rebounding from the support level 1621.2 near the SMA 20 to approach the SMA 50 which is a resistance to the price will try to prevent it from rising again and reaching the target 1806.20 where the price is trading between the moving averages 7-20-50.

Note that the Stochastic is starting to lose its bullish momentum as it left the overbought area in a negative bearish signal.

Support and resistance:

Support: 1621.2-1430.3;

Resistance: 1806.2-2048.2.

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Gold futures rose during the American session to witness the highest since July 11 amid the rebound of the dollar index from the highest since the end of November last according to the inverse relationship between them following developments and economic data followed Thursday by the US economy largest the ...

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Gold futures rose during the American session to witness the highest since July 11 amid the rebound of the dollar index from the highest since the end of November last according to the inverse relationship between them following developments and economic data followed Thursday by the US economy largest the world economy and on the brink of the forthcoming talk of FOMC member and Atlanta Fed Chairman Rafael Postk in Atlanta.

Gold futures rose to currently trade at $ 1239.66 per ounce, after reaching a five-month high of $ 1,244.30 per ounce. The US dollar index fell 0.41% to 96.67, reversing the week's high against the opening at 97.07.

Federal Reserve Board member Randall Quarls followed the opening remarks at the Stanford University Economic Seminar in California before we saw the release of preliminary data for the US labor market with the reading of the Change in Private Sector Index, which showed a slowdown in job creation to around 179,000 jobs Adding to 225,000 jobs added last October, worse than the expected 195,000 added jobs.

In parallel with the release of the trade balance index, which showed a widening deficit to $ 55.5 billion compared to $ 54.6 billion last September, worse than expectations of a widening deficit to $ 55.2 billion, showed a reading of the index of claims for the week before the beginning of the month decrease by 4 thousand to 231 thousand applications compared to 235 thousand applications in the previous weekly reading, contrary to expectations at 226 thousand applications.

On the 24th of last month, the ongoing claims index showed a drop of 74K to 1,631K, exceeding expectations of 1,690K. This came before we saw the final reading of Markit Institute's Index of Service Providers Which expanded to 54.7 from the previous reading and expectations at 54.4 and from 54.8 in October.

We also followed the disclosure of the Institute of Supply Service Index, which showed a widening to 60.7 compared to 60.3 in October, contrary to expectations that indicated the contraction of breadth to 59.1, and we would like to point out that the service supply is important in the fact that the service sector in the United States represents More than two-thirds of US GDP.

This came in conjunction with the factory demand index, which showed a 2.1% drop from 0.2% last September, worse than expectations for a 1.9% decline. This comes on the heels of the expected talk of federal commissioner and Federal Reserve Chairman Rafael Postk about Local economy in Georgia's economic forecast series in Atlanta.

Gold holdings at SBDR Gold Trust, the world's largest gold-backed fund, stabilized on Wednesday for a second consecutive day at 761.74 metric tons. Gold prices last month made their second monthly gain, respectively, after ending their longest losing streak in October since late 1996.

Technical analysis:

Gold is starting a new high today to move above the 1238.30 level, but closed yesterday's candlestick below this level as well, keeping the chances for the continuation of the expected bearish scenario over the intraday basis, waiting for 1208.40 targeting mainly.

The break of 1230.00 will facilitate the price action to achieve the mentioned target, while the price stability above 1238.30 will stop the negative scenario and lead the price to move towards 1262.51 as the next major station.

No change in the moving averages. the SMA 7 approaches the price to give it more stability while the SMA 20 is floating near support area 1222.0.

Stochastic moves in the overbought area, waiting for an intersection between the indicator lines and out of the area to begin the correction process

The trading range for today is among the support at 1220.00 and resistance at 1250.00

Support and resistance:

Support: 1227.39-1221.89-1211.98

Resistance: 1238.38-1251.32-1257.00-1262.8

The general trend for today is bearish

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The Australian dollar fell during the Asian session to see its fifth consecutive session retreat since August 9 against the US dollar following developments and economic data that followed the Australian economy and the talk of Federal Open Market Committee member and New York Bank Chairman John Williams in New ...

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The Australian dollar fell during the Asian session to see its fifth consecutive session retreat since August 9 against the US dollar following developments and economic data that followed the Australian economy and the talk of Federal Open Market Committee member and New York Bank Chairman John Williams in New York in addition to To Federal Reserve Governor Jerome Powell in Washington on the eve of economic developments and data expected Friday by the US economy, the largest economy in the world.

At 02:51 GMT, the AUDUSD fell 0.15% to 0.7225, compared with the opening levels of 0.7236, after reaching a low of 0.7219, while recording a high of 0.7237.

We followed the Australian economy by reading the Australian Manufacturing Group (AIG) Construction Index, which showed a contraction of 44.5 versus 46.4 in October, hours after the Reserve Bank of Australia's Reserve Bank of Australia Governor Ge Debili said Thursday. Sydney the interest rate level may be further reduced depending on the data.

Debeili also noted that it is unlikely to raise interest rates in the coming period and that floating the exchange rate is still important to control any shocks in the markets, adding that the economy is growing at a reasonable pace and that banks responded to the decline in house prices, which increases the economic challenges, Rose, while it is not yet clear how high they are, and that the Australian Central Bank is closely monitoring the economic data and will adjust its expectations if necessary.

On the other hand, we followed Federal Reserve Chairman and Federal Reserve Bank of New York Chairman John Williams in an interview with Mervyn King as part of the London Foundation for Economics meeting in New York before we saw Federal Reserve Governor Jerome Powell talking about the economy, rural America and the economy. Annual event of the Housing Assistance Council in Washington.

Otherwise, the markets are currently looking for the US economy to release labor market data for November that could reflect a stable unemployment rate of 3.7% for the third straight month at its lowest in almost five decades, amid expectations that the reading of average income in The hour accelerated its growth to 0.3% from 0.2% in October.

In conjunction with the release of the Non-Farm Payrolls Change Index, which may reflect a slower pace of job creation to 198,000 added jobs versus 250,000 jobs in October before the final reading of the Wholesale Inventories Index, which may reflect stability at 0.7%, unchanged from October's prior reading and 0.4% in September.

To the initial reading of the University of Michigan Consumer Sentiment Index, which may reflect a narrowing to 97.0 versus 97.5 last November, before we see the Federal Reserve Committee member for financial stability at the Peterson Institute in Washington as investors look for any hints at the future of monetary policy tightening by monetary policy makers in the Federal Reserve.

Technical analysis:

The AUDUSD remains steady without supporting the ascending channel, and we notice that Stochastic is approaching the oversold area consistently.

The pair is currently trading at the support level of 0.7235, below the averages of 20-7, but above the SMA 50 which formed yesterday's support level at 0.7186

Therefore, we believe that opportunities are available to resume the expected bearish trend over the short and short term targeting 0.7080 then 0.7020 mainly, while stability below 0.7277 is an important condition for achieving the suggested targets.

The trading range for today is among the key support at 0.7140 and resistance at 0.7277

Support and resistance:

Support: 0.7235-0.7186-0.7080-0.7020

Resistance: 0.7276-0.7377-0.7452

The general trend for today is bearish

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