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Futures contracts for gold prices fluctuated in a narrow range slanting to rise during the Asian session, to witness its rebound for the second session in a row from its lowest since July 22, overlooking the rise of the dollar index according to the inverse relationship between them on the ...

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Futures contracts for gold prices fluctuated in a narrow range slanting to rise during the Asian session, to witness its rebound for the second session in a row from its lowest since July 22, overlooking the rise of the dollar index according to the inverse relationship between them on the cusp of developments and economic data expected today, Friday, by the American economy The world's largest economy and amid investors weighing the opportunities for a new US stimulus package against an increase in coronavirus cases.

 At 06:04 GMT, gold futures contracts for December delivery rose 0.10% to trade at $ 1,874.60 an ounce, compared to the opening at $ 1,872.70 per ounce, knowing that the contracts started the session on a downward price gap after it was concluded Yesterday's trading was at $ 1,876.90 per ounce, while the US dollar index rose 0.03% to 94.33, compared to the opening at 94.30.

 Investors are currently awaiting the US economy to unveil the durable goods orders index, which represents about half of consumer spending, which accounts for more than two-thirds of GDP in the United States, and which may reflect a slowdown in the pace of growth to 1.1% compared to 11.4% last July. The core reading of the same index may also show a slowdown in the pace of growth to 1.0%, compared to 2.6% in July.

 Later today, markets are looking forward to a speech by the President of the New York Federal Reserve and a member of the Federal Open Market Committee, John Williams, about the labor market in light of the Corona pandemic at a webinar hosted by the University of Rochester, and this comes hours after the expiration of the semi-annual testimony of Federal Reserve Governor Jerome in front of The US Congress has both the House Financial Services Committee and the Senate Banking Committee.

 Powell stated that about $ 195 billion was provided in the Aid, Relief and Economic Security Bill in the face of the repercussions of the "CARES Act" in order to confront the negative repercussions of the Corona pandemic so far, while expressing that small and medium companies need more support for a longer period than He postponed its return to what it was before the health crisis, and touched on the fact that the Federal Reserve continues to support the economy in these unprecedented situations.

 Powell noted that the Federal Reserve did not provide any loans to large companies directly, while stating that he does not agree with the raising of local state governments taxes during the current period and that the Fed will continue with the wage protection program if it obtains congressional approval, amid his refusal to comment on talks The poles of US policy, the Republican Party and the Democratic Party, about the second anticipated stimulus package in the markets.

 

In the same context, Powell stressed that failure to approve more stimulus will significantly harm companies and families, especially in light of the continuing downside risks to the American economy, explaining that he believes that Congress should use $ 130 billion to support the wage protection program, with reference to the availability of a vaccine. Corona will enhance the state of certainty in the markets and among families and companies.

Technical analysis

  

The price of gold ended yesterday's trading above the level of 1860.90 after the noticeable rise it witnessed in the last sessions, to provide signs of an attempt to stop the negative pressure that dominates the recent trades, but we note that the stochastic indicator is now providing negative signals, in addition to the MA 50 negatively pressing on The price, and the price is moving inside an ascending minor channel that may form a bearish continuation flag pattern.

 

Thus, the conflict between the technical factors makes us prefer stopping aside until we get a clearer signal for the next trend, noting that breaching 1877.00 will push the price to achieve more gains and test areas of 1901.80 then 1911.00 mainly, while breaking the support 1860.90 will re-activate the bearish trend scenario. Whose next main target is at 1794.85.

 

The expected trading range for today is between 1840.00 support and 1900.00 resistance.

 

The expected overall trend for today: Neutral.

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The US dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its rebound from the high since September 15 against the Japanese yen following the developments and economic data that they followed on the Japanese economy and on the cusp of economic developments ...

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The US dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its rebound from the high since September 15 against the Japanese yen following the developments and economic data that they followed on the Japanese economy and on the cusp of economic developments and data expected today, Friday, by the US economy, the largest economy. In the world.

 

At exactly 07:11 AM GMT, the US dollar against the Japanese yen decreased by 0.09% to 105.31 levels, which is the lowest level for the pair during the session's trading, compared to the opening levels at 105.41, while the pair achieved its highest level in a week at 105.54.

 

We have followed up on the Japanese economy, the second largest in Asia and the third largest in the world, revealing inflation data, with the release of the annual service price index reading by the Bank of Japan for August, which showed a slowdown in the pace of growth to 0.1% compared to 1.1%, which was revised from a growth of 1.2 % In the previous annual reading last July, contrary to expectations that indicated a growth of 1.2%.

 

On the other hand, investors are currently awaiting the US economy to unveil the durable goods orders index, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product in the United States, and which may reflect a slowdown in the pace of growth to 1.1% compared to 11.4% in July. July, and the core reading of the same index may show a slowdown in the pace of growth to 1.0%, from 2.6% in July.

 

Later today, markets are looking forward to a speech by the President of the New York Federal Reserve and a member of the Federal Open Market Committee, John Williams, about the labor market in light of the Corona pandemic at a webinar hosted by the University of Rochester, and this comes hours after the expiration of the semi-annual testimony of Federal Reserve Governor Jerome in front of The US Congress has both the House Financial Services Committee and the Senate Banking Committee.

 

Powell stated that about $ 195 billion was provided in the Aid, Relief and Economic Security Bill in the face of the repercussions of the "CARES Act" in order to confront the negative repercussions of the Corona pandemic so far, while expressing that small and medium companies need more support for a longer period than He postponed its return to what it was before the health crisis, and touched on the fact that the Federal Reserve continues to support the economy in these unprecedented situations.

 

Powell noted that the Federal Reserve did not provide any loans to large companies directly, while stating that he does not agree with the raising of local state governments taxes during the current period and that the Fed will continue with the wage protection program if it obtains congressional approval, amid his refusal to comment on talks The poles of US policy, the Republican Party and the Democratic Party, about the second anticipated stimulus package in the markets.

 

In the same context, Powell stressed that failure to approve more stimulus will significantly harm companies and families, especially in light of the continuing downside risks to the American economy, explaining that he believes that Congress should use $ 130 billion to support the wage protection program, with reference to the availability of a vaccine. Corona will enhance the state of certainty in the markets and among families and companies.

 

In another context, Powell noted that the Federal Reserve's maintenance of short-term reference interest rates is zero aimed at supporting economic activity and strengthening inflationary pressures towards the 2% target, and that achieving this will push it to raise interest on federal funds later, adding that in the short term, the interest rate on funds will not be zero. Federalism is good for people, but citizens will feel the importance of low interest in the medium and long term.

Technical analysis

  

The dollar-yen pair stabilizes trading above 105.20, which maintains the bullish trend scenario valid and effective, supported by the move above the 50 MA, waiting to visit 106.00 - 106.44 levels, which represent our next main targets.

 

Consolidation above 105.20 is important for the continuation of the expected rise, as breaking it will pressure the price to resume the main bearish trend again.

 

The expected trading range for today is between 104.80 support and 106.20 resistance.

 

The expected general trend for today: Bullish.

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Arrow returns to the upside move, as the price is testing the resistance 340.85 after testing the support level of 330.70 to the downside, and it reached the support level near the SMA 50. Which is moving near the major support at 330.50.

The stochastic oscillator approached ...

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Arrow returns to the upside move, as the price is testing the resistance 340.85 after testing the support level of 330.70 to the downside, and it reached the support level near the SMA 50. Which is moving near the major support at 330.50.

The stochastic oscillator approached the overbought zone, coinciding with the price testing of the support level.

The expected trading range is between 301.40 support and 350.50 resistance.

The expected general trend for today: Bullish.

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USDJPY

The pair is turning down against the backdrop of the stronger US dollar as the demand for risk assets has increased due to hopes of Democrats and Republicans agreeing on new stimulus package to support the American economy and citizens.

Technical side:

The price is located above the middle ...

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USDJPY

The pair is turning down against the backdrop of the stronger US dollar as the demand for risk assets has increased due to hopes of Democrats and Republicans agreeing on new stimulus package to support the American economy and citizens.

Technical side:

The price is located above the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the 50% level and is declining. Stoch are steadily falling.

USDJPY rate online: monitor the price movement in real time.

Trading recommendations:

Sell the pair after it crosses 105.25 with a probable drop to 104.80.

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EURGBP

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. The downward pattern ended with the breakout of the inclined channel (aC wave). A breakout of the top (aC) will result in the formation of an ascending wave pattern within ...

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EURGBP

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. The downward pattern ended with the breakout of the inclined channel (aC wave). A breakout of the top (aC) will result in the formation of an ascending wave pattern within the overall uptrend.

EURGBP rate online: monitor the price movement in real time.

Trading recommendations:

Buy above 0.9163.

Stop Loss: 0.9084.

Target levels: 0.9216; 0.9265.

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#APPLE

After the split, the company’s shares became available to a larger number of buyers. However, the share price declined slightly against the backdrop of the overall negative mood on the stock markets. The downward pattern ended with the breakout of an inclined channel. A breakout of the resistance ...

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#APPLE

After the split, the company’s shares became available to a larger number of buyers. However, the share price declined slightly against the backdrop of the overall negative mood on the stock markets. The downward pattern ended with the breakout of an inclined channel. A breakout of the resistance level of 112.37 will result in the formation of an ascending wave pattern.

#APPLE rate inline: monitor the price movement in real time.

Trading recommendations:

Buy above 112.37.

Stop Loss below the support level of 104.57.

Target levels: 118.16; 135.00.

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Thursday, September 24th, today’s news—Jerome Powell called for more fiscal stimulus in his speech in Congress. European markets are lower due to the escalating pandemic outbreak and the pessimism over the global economic recovery, the Asian and American markets show similar trends, the dollar is stronger amid the ...

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Thursday, September 24th, today’s news—Jerome Powell called for more fiscal stimulus in his speech in Congress. European markets are lower due to the escalating pandemic outbreak and the pessimism over the global economic recovery, the Asian and American markets show similar trends, the dollar is stronger amid the crisis. The price of Brent oil is $41.52, WTI—$39.63, EUR/USD is at 1.1654, GBP/USD—1.2735, gold is $1,856.20 per ounce.

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#MT

The stock is trading in the range of 365 and 135 moving averages. Awesome Oscillator indicates a bullish divergence. Stochastic Oscillator indicates an oversold condition.

Trading recommendations:

Buy strictly when the descending wave pattern is completed by the formation of an ascending pattern, where the wave (A) breaks through ...

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#MT

The stock is trading in the range of 365 and 135 moving averages. Awesome Oscillator indicates a bullish divergence. Stochastic Oscillator indicates an oversold condition.

Trading recommendations:

Buy strictly when the descending wave pattern is completed by the formation of an ascending pattern, where the wave (A) breaks through the inclined channel of the descending pattern.

Stop Loss at the local minimum.

Target levels: 10.84; 11:58.

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EURUSD

The pair remains under pressure amid falling demand for risk assets. The dollar is supported by the fears of new COVID-19 restrictions, pre-election tensions in the US, and an evident slowdown in the global economic recovery.

Technical side:

The price is below the middle Bollinger band, below SMA 5 ...

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EURUSD

The pair remains under pressure amid falling demand for risk assets. The dollar is supported by the fears of new COVID-19 restrictions, pre-election tensions in the US, and an evident slowdown in the global economic recovery.

Technical side:

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

EURUSD rate online: monitor the price movement in real time.

Trading recommendations:

Sell the pair after it crosses 1.1650 with a likely drop to 1.1600.

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GBPCAD

The overall trend is downward. The currency pair is trading in the range of 365 and 135 moving averages. The ascending M30 level pattern is currently truncated. Awesome Oscillator indicates a bearish divergence, while Stochastic Oscillator indicates an overbought condition.

GBPCAD rate online: monitor the price movement in real ...

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GBPCAD

The overall trend is downward. The currency pair is trading in the range of 365 and 135 moving averages. The ascending M30 level pattern is currently truncated. Awesome Oscillator indicates a bearish divergence, while Stochastic Oscillator indicates an overbought condition.

GBPCAD rate online: monitor the price movement in real time.

Trading recommendations:

Sell when a descending wave pattern is formed, which is completed with an ascending truncated M30 level pattern by breaking through the inclined channel.
Stop Loss: beyond the resistance level of 1.7105.

Target levels: 1.6912; 1.6836.

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