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The euro currency fluctuated in a narrow range that tilted back down during the Asian session to reflect its stability near its lowest level since the third week of April 2017, when trading began on an upward price gap after the French President Emmanuel Macron won the French main elections ...

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The euro currency fluctuated in a narrow range that tilted back down during the Asian session to reflect its stability near its lowest level since the third week of April 2017, when trading began on an upward price gap after the French President Emmanuel Macron won the French main elections against the US dollar on the cusp of developments The economic data expected on Thursday by the economies of the euro area and the US economy, the largest economy in the world.

At 05:02 am GMT, the euro against the US dollar fell 0.06% to 1.0799 levels compared to the opening levels at 1.0805, after the pair achieved its lowest level during the trading session at 1.0792, while achieving the highest at 1.0815.

Investors, by the largest Eurozone economies, are looking to Germany to reveal a statistical reading of the GFK consumer confidence index that may reflect the stability of the expansion at 9.9 during March, in conjunction with the release of the producer price index, which is an initial indication of inflationary pressures and that may show stability Growth at 0.1% during January, while the annual reading of the same indicator may show widening contraction to 0.4% versus 0.2%.

This comes before we witnessed by the second largest economy in the euro area, France, the final reading of the consumer price index, which may reflect the stability of the deflation at 0.4%, little changed from the initial reading of the previous month of January and against the growth of 0.4% last December. Up to the ECB's disclosure of the ECB monetary policy meeting held on January 23.

By mentioning that the monetary policy makers of the European Central Bank kept at the bank’s last meeting on interest rates at their zero levels and the marginal lending rate at 0.25% while remaining on the interest rate on deposits -0.50%, while proceeding with the quantitative easing program at 20 billion euros per month which It was activated last November as long as needed.

In the same vein, we followed yesterday. The advisor to the chief commercial commissioner in the European Union, Stefan de Rink, expressed the fact that the European Union assured Britain some time ago that any trade agreement with it must include the rules of fair competition between the two parties, adding that trade talks with Britain will be difficult. To some extent, it will probably be more difficult than it was to negotiate over Britain's exit from the European Union.

Otherwise, we also followed yesterday. German Finance Minister Olaf Schultz reported that there are no signs of stagnation in his country's economy, adding that the G20 meeting, which will take place on 22-23 of this month, is expected to result in the capital of the Kingdom of Saudi Arabia, Riyadh, which will be at the level of Finance ministers of the twentieth countries, on the agreement about the minimum tax on companies, especially technology giants.

German Finance Minister Schultz also stressed the importance of the Group of Twenty countries to support global economic growth, especially in the shadows of fears of the spread of the Coruna virus, adding that we must ensure that we are able to take the necessary steps, with his statement that until now they continue to monitor developments related to the virus The killer, adding that he expected the largest economies of the euro area 1.1% this year despite the repercussions of the coronavirus.

On the other hand, investors are currently waiting for the US economy to disclose data on the industrial sector with the release of the Philadelphia Industrial Index reading, which may reflect a shrinkage in breadth to 10.1 compared to 17.0 last January, and this comes in conjunction with the release of the index of aid requests for the week Last February 15th, which may reflect a rise of 5 thousand requests to 210 thousand requests compared to 205 thousand requests in the previous weekly reading.

This also comes in conjunction with the issuance of the reading of the continuous benefit requests index for the past week on the eighth of this week, which may reflect an increase of 19 thousand applications to 1,717 thousand applications compared to 1,698 thousand requests in the previous weekly reading, up to the disclosure of reading the leading indicators that may appear Up 0.4%, compared to a decline of 0.3% in December.

This comes hours after the minutes of the Federal Open Market Committee meeting held on January 28-29, during which members of the committee approved the maintenance of short-term benchmark interest rates between 1.50% and 1.75% for the third meeting, respectively. The minutes mentioned that the current monetary policy is appropriate and will remain in place for some time, indicating that the interest on federal funds remains unchanged during the coming period.

Technical analysis

The narrow range has dominated the trading of the euro against the dollar since yesterday, which maintains its stability below the 1.0800 barrier, and therefore, the bearish trend scenario will remain as it is without change for the next period, supported by the negative pressure that the moving average 50 constitutes, noting that our targets Awaited starts at 1.0760 then 1.0680, while achieving it requires stability below 1.0860.

The expected trading range for today is between 1.0700 support and 1.0860 resistance.

Expected trend for today: bearish.

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Gold price futures fluctuated in a narrow range that tilted back down during the Asian session to witness its bounce for the second session from the top since March 21, 2013 amid the rise of the US dollar index to its highest since May 11 of 2017 according to the ...

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Gold price futures fluctuated in a narrow range that tilted back down during the Asian session to witness its bounce for the second session from the top since March 21, 2013 amid the rise of the US dollar index to its highest since May 11 of 2017 according to the inverse relationship between them On the cusp of developments and economic data expected Thursday by the US economy, the largest economy in the world.

At exactly 04:04 AM GMT, gold price futures for April delivery decreased 0.14% to trade at $ 1,612.80 per ounce compared to the opening at $ 1,615.00 per ounce, knowing that the contracts started the trading session on an upward price gap after yesterday's trading was concluded At $ 1,611.80 an ounce, with the US dollar index rising 0.15% to 99.69 compared to the opening at 99.54.

Investors are currently waiting for the US economy to disclose data on the industrial sector with the release of the Philadelphia Industrial Index reading, which may reflect a shrinkage in breadth to 10.1 compared to 17.0 in January, and this comes in conjunction with the release of the aid claims index for the past week in 15 From February, which may reflect a rise of 5 thousand requests to 210 thousand requests compared to 205 thousand requests in the previous weekly reading.

This also comes in conjunction with the issuance of the reading of the continuous benefit requests index for the past week on the eighth of this week, which may reflect an increase of 19 thousand applications to 1,717 thousand applications compared to 1,698 thousand requests in the previous weekly reading, up to the disclosure of reading the leading indicators that may appear Up 0.4%, compared to a decline of 0.3% in December.

This comes hours after the minutes of the Federal Open Market Committee meeting held on January 28-29, during which members of the committee approved the maintenance of short-term benchmark interest rates between 1.50% and 1.75% for the third meeting, respectively. The minutes mentioned that the current monetary policy is appropriate and will remain in place for some time, indicating that the interest on federal funds remains unchanged during the coming period.

It is noteworthy that the Federal Reserve Governor Jerome Powell expressed during the press conference held after the meeting of the Federal Committee at the time, that the decisions of the committee depend on the economic data received, while touching that if inflation rates remain below the target of the Federal Reserve, this may lead to a reduction Expectations of inflation and thus reduce short-term interest rates, adding that inflation is expected to reach the target within the next three months.

Powell also noted at the time that the Federal Reserve is seeking to avoid the stability of inflation below the target of two percent, with his statement that there will be slight adjustments to the reserve reserve mandatory and that the general budget will continue to expand over time, adding that the Federal Reserve expects support from repurchases during April / This April, with the indication that it is regrettable that the Coruna virus is spreading and that it is expected to have a negative impact on the Chinese economy.

Powell also touched on the fact that the Federal Reserve is closely monitoring the situation regarding the spread of the Corona virus and its impact on the economy, while stating that there are some cautious optimism about the global economy, pointing out that the financial conditions are improving and trade tensions have declined, indicating that his country signed with China for the first stage of the trade agreement. This is in addition to the decrease in the chances of Britain leaving without an agreement from the European Union, which contributes to supporting the positive expectations.

On the other hand, monetary policy makers at the People's Bank of China (the Chinese Central Bank) have just decided to reduce the interest rate on lending for one year by 10 basis points and for a period of five years by 5 basis points, which was widely expected in the markets, and this came Hours after the Chinese Central Bank last Monday cut the average term loan interest by ten basis points to 3.15% from 3.25%, amid intensified liquidity measures and financing conditions in the face of financial pressures on the second largest economy in the world due to the spread of Corona.

Technical analysis

The gold price continues to fluctuate around 1611.20 level and is trying to breach it, noting that the stochastic index starts to get rid of its negative momentum, waiting for a positive momentum sufficient to push the price to overcome the mentioned level and confirm the trend towards our next target at 1625.00.

SMA 50 continues to support the price from below, to keep our expectations for the bullish direction for the coming period, taking into consideration that failure to achieve the required breach may pressure the price to test 1575.90 areas before any new attempt to rise.

The expected trading range for today is between 1600.00 support and 1625.00 resistance.

Expected trend for today: bullish.

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The fluctuation of the US dollar in a narrow range slanting upward during the Asian session, its stability near its highest level since the beginning of last May against the Japanese yen amid the scarcity of economic data by the Japanese economy and on the cusp of developments and economic ...

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The fluctuation of the US dollar in a narrow range slanting upward during the Asian session, its stability near its highest level since the beginning of last May against the Japanese yen amid the scarcity of economic data by the Japanese economy and on the cusp of developments and economic data expected Thursday by the US economy, the largest economy in the world .

At exactly 05:53 AM GMT, the US dollar pair rose against the Japanese yen by 0.03% to 111.40 levels compared to the opening levels at 111.37, after the pair achieved its highest level during the trading session at 111.49, while achieving the lowest at 111.11.

Investors are currently awaiting by the US economy the disclosure of industrial sector data with the release of the Philadelphia Industrial Index reading, which may reflect a shrinkage in breadth to 10.1 compared to 17.0 in January, and this comes in conjunction with the release of the index of subsidy requests for the past week in February 15th, which may reflect a rise of 5 thousand requests to 210 thousand applications compared to 205 thousand requests in the previous weekly reading.

This also comes in conjunction with the issuance of the reading of the continuous benefit requests index for the past week on the eighth of this week, which may reflect an increase of 19 thousand applications to 1,717 thousand applications compared to 1,698 thousand requests in the previous weekly reading, up to the disclosure of reading the leading indicators that may appear Up 0.4%, compared to a decline of 0.3% in December.

This comes hours after the minutes of the Federal Open Market Committee meeting held on January 28-29, during which members of the committee approved the maintenance of short-term benchmark interest rates between 1.50% and 1.75% for the third meeting, respectively. The minutes mentioned that the current monetary policy is appropriate and will remain in place for some time, indicating that the interest on federal funds remains unchanged during the coming period.

Technical analysis

The dollar pair against the yen surged strongly yesterday, exceeding our first target of 110.50 and achieving the second at 111.50, opening the way for a continuation of the rise in the short term, regular inside the bullish channel that appears in the picture, waiting for the visit of the previously recorded summit at 112.39 as the next stop.

Thus, the bullish trend scenario will remain effective during the upcoming sessions provided that the price maintains its stability above 110.80.

The expected trading range for today is between 110.80 support and 112.30 resistance.

Expected trend for today: bullish.

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EURUSD (20.02.2020)

Time frame

Trend

Call levels

Put levels

Xpir time

Н1

bearish

1.0827; 1.0865; 1.0925.

1.0925; 1.0865; 1.0827; 1.0784.

1-3TF

Time of publication of important economic news

USD – 16:30; 19:00.

EUR – 15:30.

 

GBPUSD (20.02.2020)

Time ...

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EURUSD (20.02.2020)

Time frame

Trend

Call levels

Put levels

Xpir time

Н1

bearish

1.0827; 1.0865; 1.0925.

1.0925; 1.0865; 1.0827; 1.0784.

1-3TF

Time of publication of important economic news

USD – 16:30; 19:00.

EUR – 15:30.

 

GBPUSD (20.02.2020)

Time frame

Trend

Call levels

Put levels

Xpir time

Н1

bearish

1.2880; 1.2928; 1.2974; 1.3010; 1.3070.

1.3210; 1.3070; 1.3010; 1.2974; 1.2928; 1.2880.

1-3TF

Time of publication of important economic news

USD – 16:30; 19:00.

GBP – 12:30.

 

When buying an option against a trend, it is necessary to confirm other technical analysis tools – the presence of divergence, candlestick reversal patterns. Buy against the trend strictly on the retest level! Buying an option before publishing important economic news is considered risky.  The expiration time depends on the strength of the level and confirmation by additional technical and fundamental analysis tools.

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The pair is above 0.6640, still under pressure amid the expectations of a strong decline in Chinese economic growth due to the new virus' impact on the production activity. Australia is closely linked economically with China, so the decline in demand for Australian exports will harm the country's ...

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The pair is above 0.6640, still under pressure amid the expectations of a strong decline in Chinese economic growth due to the new virus' impact on the production activity. Australia is closely linked economically with China, so the decline in demand for Australian exports will harm the country's economy, which will ultimately affect the local currency exchange rate.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold zone and is declining. Stoch are also there, but uninformative.

Trading recommendations:

Sell the pair after it crosses the level of 0.6640 with a likely target of 0.6600.

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The overall trend is upward. Breaking through the resistance level of 770.00 will result in the formation of an uptrend within the overall uptrend. Also, a bullish divergence has formed on the Awesome Oscillator.

Trading recommendations:

Buy above 770.00.

Stop loss: 740.00.

Target levels: 797.0; 833 ...

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The overall trend is upward. Breaking through the resistance level of 770.00 will result in the formation of an uptrend within the overall uptrend. Also, a bullish divergence has formed on the Awesome Oscillator.

Trading recommendations:

Buy above 770.00.

Stop loss: 740.00.

Target levels: 797.0; 833.50.

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The overall trend is downward. A descending truncated H8 level pattern has formed on the wave (C) which also has a truncated pattern. Awesome Oscillator shows a bullish divergence, and Stochastic Oscillator signals oversoldness. A breakout of 1.3240 will result in the formation of an uptrend within the overall ...

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The overall trend is downward. A descending truncated H8 level pattern has formed on the wave (C) which also has a truncated pattern. Awesome Oscillator shows a bullish divergence, and Stochastic Oscillator signals oversoldness. A breakout of 1.3240 will result in the formation of an uptrend within the overall uptrend.

Trading recommendations:

Buy above 1.3240.

Stop loss under the local minimum.

Target levels: 1.3276; 1.3319.

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The US dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its highest level since February 12, when it experienced its highest level since January 21 against the Japanese yen following the developments and economic data that it reported on the Japanese economy ...

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The US dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its highest level since February 12, when it experienced its highest level since January 21 against the Japanese yen following the developments and economic data that it reported on the Japanese economy and on the cusp of developments and economic data. Expected today, Wednesday, by the US economy, which includes the speech of members of the Federal Open Market Committee and the disclosure of the minutes of the Federal Reserve meeting.

At 05:52 am GMT, the US dollar pair rose against the Japanese yen by 0.16% to 110.05 levels compared to the opening levels at 109.87, after the pair achieved its highest level in a week at 110.11, while it achieved its lowest during the trading session at 109.85.

On the Japanese economy, we have followed the release of the Trade Balance Index reading, which showed that the deficit widened to 1,313 billion yen compared to 155 billion yen last December, contrary to expectations that the deficit widened to 1,685 billion yen, as the seasonally adjusted reading of the same indicator showed The deficit widened to 224 billion yen from 107 billion yen in December, also contrary to expectations that the deficit widened to 550 billion yen.

This came with the annual reading of both exports and imports showing a decline in January, and in conjunction with the disclosure of a reading of the machinery orders index, which showed a 12.5% ​​decline compared to an increase of 18.0% last November, worse than the expectations that indicated a 9.0% decline Also, the annual reading of the same index showed a decline of 3.5% against a rise of 5.3%, also worse than expectations that indicated a decline of 1.3%.

On the other hand, investors are currently awaiting by the US economy the disclosure of the producer price index reading, which is an initial indicator of inflation, which may reflect the stability of growth at 0.1% compared to during December, while the fundamental reading of the same indicator may show acceleration of growth to 0.2% against 0.1%,

This also comes in conjunction with the disclosure of housing market data, with the release of both the beginning construction index and the building permit index, and amid expectations that the reading of the building permits index will reflect a 2.1% increase to about 1,450 thousand permits compared to a decline of 3.9% at 1,416 thousand permits in December / December, while the reading of the index of start-up homes, may reflect a decline of 12.0% to about 1,415 thousand homes compared to a rise of 16.9% at 1,608 thousand homes.

Reaching the upcoming event today, the Federal Reserve revealed the minutes of the Federal Open Market Committee meeting held on January 28-29, in which the Federal Reserve monetary policy makers decided to keep interest rates on federal funds at between 1.50% And 1.75% for the third consecutive meeting at the time.

Technical analysis

The dollar against the yen pair resumes its positive trades to test the 110.00 barrier, reinforcing expectations of the continuation of the expected bullish trend over the intraday basis, pending a visit to the 110.50 level which represents our first positive target, with a reminder that exceeding this level will push the price to 111.50 as the next station.

SMA 50 continues to support the suggested bullish wave, which will remain valid and active unless 109.33 level is broken and stability below it.

The expected trading range for today is between 109.50 support and 110.80 resistance

Expected trend for today: bullish

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Gold price futures fluctuated in a narrow range that tilted back down during the Asian session to witness its bounce for the second session from its highest since January 8, when it tested the highest for it since March 22, 2017 amid the rise in the US dollar index, indicating ...

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Gold price futures fluctuated in a narrow range that tilted back down during the Asian session to witness its bounce for the second session from its highest since January 8, when it tested the highest for it since March 22, 2017 amid the rise in the US dollar index, indicating its stability near From above, since the beginning of October, when he tested the highest for him since May 12, 2017, according to the inverse relationship between them.

This comes on the cusp of developments and economic data expected today Wednesday by the US economy, the largest economy in the world, which includes the talk of members of the Federal Open Market Committee and the Federal Reserve revealed the minutes of the meeting of the Federal Open Market Committee and in the shadow of investors' assessment of the developments of the spread of the Corona virus amid the Chinese government’s emphasis on Slowing the frequency of coronavirus infection.

At exactly 04:28 AM GMT, gold price futures for April delivery rose 0.02% to trade at $ 1,604.50 per ounce compared to the opening at $ 1,604.80 per ounce, knowing that the contracts started the trading session on an upward price gap after yesterday's trading was concluded At $ 1,603.60 an ounce, with the US dollar index rising 0.01% to 99.44 compared to the opening at 99.43.

Investors are currently awaiting by the US economy the disclosure of the Producer Price Index reading, which is an initial indicator of inflation, which may reflect the stability of growth at 0.1% versus during December, while the fundamental reading of the same indicator may show acceleration of growth to 0.2% against 0.1%, This coincided with the talk of Federal Committee member and President of the Cleveland Bank of the Federal Reserve Loretta Mester at the Executive Women’s Forum in Philadelphia.

This also comes in conjunction with the disclosure of housing market data, with the release of both the beginning construction index and the building permit index, and amid expectations that the reading of the building permits index will reflect a 2.1% increase to about 1,450 thousand permits compared to a decline of 3.9% at 1,416 thousand permits in December / December, while the reading of the index of start-up homes, may reflect a decline of 12.0% to about 1,415 thousand homes compared to a rise of 16.9% at 1,608 thousand homes.

This comes before we witness the talk of two other members of the Federal Committee, President of the Minneapolis Federal Reserve Bank Neil Kashkari at the twelfth annual symposium on agriculture in the state of Minnesota, before Federal Reserve Vice President Dallas Kaplan delivered a speech entitled "Presented by the Federal Reserve "At the Urban Land Institute of North Texas in Dallas.

Reaching the upcoming event today, the Federal Reserve revealed the minutes of the Federal Open Market Committee meeting held on January 28-29, in which the Federal Reserve monetary policy makers decided to keep interest rates on federal funds at between 1.50% And 1.75% for the third consecutive meeting at the time.

It is noteworthy that the Federal Reserve Governor Jerome Powell expressed during the press conference held after the meeting of the Federal Committee at the time, that the decisions of the committee depend on the economic data received, while touching that if inflation rates remain below the target of the Federal Reserve, this may lead to a reduction Expectations of inflation and thus reduce short-term interest rates, adding that inflation is expected to reach the target within the next three months.

Powell also noted at the time that the Federal Reserve is seeking to avoid the stability of inflation below the target of two percent, with his statement that there will be slight adjustments to the reserve reserve mandatory and that the general budget will continue to expand over time, adding that the Federal Reserve expects support from repurchases during April / This April, with the indication that it is regrettable that the Coruna virus is spreading and that it is expected to have a negative impact on the Chinese economy.

Powell also touched on the fact that the Federal Reserve is closely monitoring the situation regarding the spread of the Corona virus and its impact on the economy, while stating that there are some cautious optimism about the global economy, pointing out that the financial conditions are improving and trade tensions have declined, indicating that his country signed with China for the first stage of the trade agreement. This is in addition to the decrease in the chances of Britain leaving without an agreement from the European Union, which contributes to supporting the positive expectations.

On the other hand, the National Health Commission of China has just announced 1,749 new confirmed cases of Corona virus, down from 1,886 cases announced yesterday, which showed the lowest rate of new coronavirus infections in China since January 29. January, while the death toll from the deadly virus, which has already spread to more than 24 other countries, has risen to more than 2,000.

It is noteworthy that the People's Bank of China (the Chinese Central Bank) last Monday reduced the average term interest rate by ten basis points to 3.15% from 3.25%, which paves the way for the Chinese central bank to cut key interest rates tomorrow, Thursday, amid expectations of intensifying monetary policy makers at the People's Bank of China. Measures to reduce liquidity and financing conditions in the face of financial pressures on the largest economies of Asia and the second largest economy in the world due to the spread of Corona

Technical analysis

Gold price trades around the 1600.00 level after yesterday's bullish rally, and the price needs to surpass the resistance of the bullish intraday channel that appears in the picture to confirm the continuation of achieving gains in the intraday and short term, where our next main target is located at 1611.20, whose breach represents the key to the trend towards 1625.00 as a station deification.

SMA 50 continues to support the suggested bullish wave, noting that a break of 1575.90 will stop the expected rise and put pressure on the price to return to the corrective downside path again.

The expected trading range for today is between 1585.00 support and 1620.00 resistance.

Expected trend for today: bullish.

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The euro currency fluctuated in a narrow range slanting upward during the Asian session to witness its bounce to the second session from the lowest since the third week of April 2017 (when trading began on an upward price gap after the French President Emmanuel Macron won the main French ...

Read more...

The euro currency fluctuated in a narrow range slanting upward during the Asian session to witness its bounce to the second session from the lowest since the third week of April 2017 (when trading began on an upward price gap after the French President Emmanuel Macron won the main French elections at the time) against the US dollar On the cusp of developments and economic data expected on Wednesday by the economies of the euro area and the US economy, which include the speech of members of the Federal Open Market Committee and the disclosure of the minutes of the Federal Reserve meeting.

At exactly 05:38 AM GMT, the euro pair rose against the US dollar by 0.04% to 1.0796 levels compared to the opening levels at 1.0792, after the pair achieved its highest level during the trading session at 1.0804, while achieving the lowest at 1.0791.

The markets are looking for the eurozone economies as a whole to reveal the seasonally adjusted reading of the current account index, which may reflect the widening of the surplus to 34.5 billion euros against 33.9 billion euros last November. Otherwise, we followed yesterday the European Union Trade Commissioner Phil Hogan On the fact that any damage that may be caused to the British economy after the expiry of the transitional period that follows Britain's exit from the Union lies entirely with Britain.

In the same context, Trade Commissioner Hogan noted that the European Union is seeking to maintain strong economic cooperation with the United Kingdom, while stating that reaching any free trade agreement between Brussels and London must include a number of criteria, including competition and environmental standards, explaining that the union seeks To reach an equitable solution, while Britain does not want this, adding that any future turmoil between the two parties is up to Britain and has full responsibility.

On the other hand, investors are currently awaiting by the US economy the disclosure of the producer price index reading, which is an initial indicator of inflation, which may reflect the stability of growth at 0.1% compared to during December, while the fundamental reading of the same indicator may show acceleration of growth to 0.2% against 0.1%,

This also comes in conjunction with the disclosure of housing market data, with the release of both the beginning construction index and the building permit index, and amid expectations that the reading of the building permits index will reflect a 2.1% increase to about 1,450 thousand permits compared to a decline of 3.9% at 1,416 thousand permits in December / December, while the reading of the index of start-up homes, may reflect a decline of 12.0% to about 1,415 thousand homes compared to a rise of 16.9% at 1,608 thousand homes.

Reaching the upcoming event today, the Federal Reserve revealed the minutes of the Federal Open Market Committee meeting held on January 28-29, in which the Federal Reserve monetary policy makers decided to keep interest rates on federal funds at between 1.50% And 1.75% for the third consecutive meeting at the time.

Technical analysis

The euro against the dollar is moving below the 1.0800 barrier, and the price continues to crawl towards our expected target at 1.0760, while the price organizes inside a descending channel that supports chances of achieving further decline during the coming period, noting that exceeding the mentioned level will push the price to 1.0680 as the next station.

Thus, the downside scenario will remain dominant unless 1.0860 level is breached and stability is maintained with daily closing above it.

The expected trading range for today is between 1.0700 support and 1.0860 resistance.

Expected trend for today: bearish.

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