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Forex market analysis

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January 2019

Gold futures traded in a narrowly bullish range during the Asian session amid a drop in the US dollar index on the back of developments and economic data expected Tuesday by the US economy, the world's largest economy, British agreement on Britain's exit from the European Union later ...

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Gold futures traded in a narrowly bullish range during the Asian session amid a drop in the US dollar index on the back of developments and economic data expected Tuesday by the US economy, the world's largest economy, British agreement on Britain's exit from the European Union later in the day.

Gold futures for February delivery rose 0.08% to currently trade at $ 1,292.30 per ounce compared to the opening at $ 1,291.30 per ounce, amid the decline of the US dollar index to 0.11% to 95.50 compared to the opening at 95.61 .

Investors are looking for the US economy to release the Producer Price Index (PPI), a preliminary indicator of inflationary pressures, which could reflect a 0.1% contraction versus 0.1% growth in November, while the annual reading of the same index may show growth at 2.5% As in the previous annual reading for the month of November.

In the same context, the core reading of the PPI may show a slowdown in growth to 0.2% from 0.3% in November, while the core annualized reading of the same index may show a 2.9% growth rate, compared with 2.7% in the previous November reading , In conjunction with the release of the New York Industrial Index, which may show a widening to 11.6 versus 10.9 last December.

Technical Analysis

The recent price of gold is limited to a bullish triangle pattern shown in the picture. Therefore, the price needs to break through 1296.00 for a positive incentive that strengthens the chances of heading towards our main target at 1316.65.

Therefore, we will maintain our positive outlook for the coming period provided that the price remains stable above 1286.70.

The trading range for today is expected among the support at 1280.00 and resistance at 1316.00

Support and resistance:

Support: 1286.8-1280.75-1266.47

Resistance: 1301.5-1318.00-1350.2

The general trend for today is bullish

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Google shares continue to fall for the sixth session in a row as the stock trades near the support level 1044.6 and the moving average 50 is pushing the price to push it further down while the moving average 20 is supporting the price.

If the price is able ...

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Google shares continue to fall for the sixth session in a row as the stock trades near the support level 1044.6 and the moving average 50 is pushing the price to push it further down while the moving average 20 is supporting the price.

If the price is able to breach the mentioned support level we will see further downside towards the support level of 1000.99

Stochastic is in a downtrend towards the oversold area and this negative signal for the price will increase the negative pressure on the price movement and push it to try to breach the support.

The trading range between support is 1000.99 and resistance is 1092.22

Support and resistance:

Support: 1044.60-1000.99

Resistance: 1092.22-111.45

General Path: Down

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USDCAD

The pair is reversing upwards as the crude oil prices are again going down, while the USD rate is stabilizing. If these trends remain, a local growth of the pair is expected.

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is passing ...

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USDCAD

The pair is reversing upwards as the crude oil prices are again going down, while the USD rate is stabilizing. If these trends remain, a local growth of the pair is expected.

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is passing the level of 50%, thus suggesting to buy. Stoch aren’t informative.

Trading recommendations:

If the pair remains above 1.3265, it may trigger a local growth up to 1.3365.

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The Australian dollar fell during the Asian session to see its rebound to its second highest session since December 13 against the US dollar following the economic developments and data followed Monday by the Australian economy and the lack of economic data by the US economy earlier this week.

At ...

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The Australian dollar fell during the Asian session to see its rebound to its second highest session since December 13 against the US dollar following the economic developments and data followed Monday by the Australian economy and the lack of economic data by the US economy earlier this week.

At 03:41 GMT, the Australian dollar was down 0.42% to 0.7185, compared with the opening levels of 0.7215, after reaching a low of 0.7180, while recording a high of 0.7224.

On the Australian economy, the index of inflation index released by the Melbourne Institute (MI) for December showed a 0.4% expansion versus zero at last November, while the same annual reading showed growth accelerated to 1.9 From 1.6% in the previous annual reading for November.

Technical Analysis

The AUDUSD starts today with a slight bearish bias towards a possible test of 0.7145, and as long as the price is above this level, our bullish outlook remains intact, moving below the moving average 7 and above the moving average 20 which supports the price for the bigger support comes from SMA 50 which is approaching the support line 0.7145. The Stochastic is moving towards oversold areas in a reversal of the downside correction, with our next main target at 0.7367.

The trading range for today is among the key support at 0.7145 and resistance at 0.7280

Support and resistance:

Support: 0.7143-0.7044

Resistance: 0.7243-0.7367

The general trend for today is bullish

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The single currency of the European Union region fluctuated in a narrow upward range during the Asian session against the US dollar on the eve of economic developments and data expected Monday by the Euro-zone economies and amid a lack of economic data earlier this week by the US economy ...

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The single currency of the European Union region fluctuated in a narrow upward range during the Asian session against the US dollar on the eve of economic developments and data expected Monday by the Euro-zone economies and amid a lack of economic data earlier this week by the US economy, the world's largest economy. The partial closure of the federal government in its fourth week in a row.

At 5:34 am GMT, the EURUSD rose 0.06% to 1.1476 compared to the opening at 1.1463 after the pair hit a session high of 1.1478 and a low of 1.1442.

The markets are currently looking for Germany's largest economy to detect the wholesale price index, which may reflect the acceleration of growth to 0.3% versus 0.2% in November, before we see the Euro-Zone economy as a whole reading the industrial production index which Growth may also accelerate to 0.3% versus 0.2% in October, just hours before European Central Bank Governor Mario Draghi reported on the ECB's annual report to the European Parliament.

Technical Analysis

EUR / USD is trading near the pivotal support 1.1443 and the price remains stable above this level so far, noting that the price meets this level to add more strength to it, keeping the bullish scenario in place so far, relying on stability above the mentioned level , Awaiting targets targeting 1.1550 and 1.1705 as next stops.

Keep in mind that breaking 1.1443 will halt the expected rally and press the price to achieve negative targets starting at 1.1320 and extending to 1.1181.

The moving averages support the bullish trend as the moving average 7 moves below the price level and gives it support for the upside while the rest of the 20-50 averages are in perfect order for the upside movement.

The trading range for today is expected among 1.1400 support and 1.1550 resistance

Support and resistance:

Support: 1.1443-1.1386-1.1341

Resistance: 1.1500-1.1550-1.1585

The general trend for today is bullish

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The GBPUSD traded positively last Friday to break above the 1.2800 level and stabilize above it, which supports our continued bullish outlook for the coming period and is open to our awaited target at 1.2962.

The moving averages support the high price as we see the intersection of ...

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The GBPUSD traded positively last Friday to break above the 1.2800 level and stabilize above it, which supports our continued bullish outlook for the coming period and is open to our awaited target at 1.2962.

The moving averages support the high price as we see the intersection of the moving average 7 with the SMA 50, indicating the end of the old bearish path and starting a new path but waiting until the 20 and 50 averages are crossed until we get the ideal order of the rise

Stochastic is in the overbought area and gives signals to break out. Therefore we are likely to see a correction in the price movement to the support level at 1.2780 at 38.2% Fibonacci retracement which is near the moving averages 7 and 50

Stability above 1.2735 is important for the continuation of the suggested rally, as breaching it will push the price to test the 1.2636 level initially before any new attempt to rise.

The trading range for today is among the key support at 1.2755 and resistance at 1.2960

Support and resistance:

Support: 1.2780-1.2713-1.2665

Resistance: 1.2875-1.2965

The general trend for today is bullish

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Gold futures traded in a tight range in the Asian session as the US dollar index fell against the backdrop of the economic developments followed by the Chinese economy, the world's largest metal consumer, amid a lack of economic data earlier this week. In conjunction with the partial closure ...

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Gold futures traded in a tight range in the Asian session as the US dollar index fell against the backdrop of the economic developments followed by the Chinese economy, the world's largest metal consumer, amid a lack of economic data earlier this week. In conjunction with the partial closure of the federal government in its fourth week.

Gold futures for February delivery rose 0.14% to currently trade at $ 1,291.30 per ounce compared to the opening at $ 1,289.50 per ounce, while the US dollar index fell 0.07% to 95.60 compared to the opening at 95.67 .

We followed the Chinese economy reading the trade balance index, which showed a surplus of 395 billion yuan, or 57.1 billion yuan, compared to 306 billion yuan, or 44.7 billion dollars in November, Forecasts that the surplus would widen to 345 billion yuan ($ 51.6 billion) as imports fell more than last month.

US Treasury Secretary Stephen Minuchin said on Friday that the Chinese vice premier is expected to complete the US-China trade talks in Washington by the end of this month, saying that the upcoming talks in his country will take into account Extension of tariff schedule.

This follows China's Ministry of Commerce that Beijing and Washington agreed to continue last week's trade talks between the world's top economists and that trade talks in Beijing were detailed and accurate on some outstanding issues, The British Parliament voted on the file of Britain's exit from the European Union.

Technical Analysis

Gold has returned to test the 1286.70 level and maintains stability above it, keeping the bullish scenario intact so far, supported by the SMA 50 that protects the mentioned level, along with the Stochastic which gives positive signals on the 4 hour timeframe, awaiting targeting 1316.65 as a next stop .

Keep in mind that a break of 1286.70 will turn the intraday path downward to achieve negative targets of 1262.50 mainly.

The trading range for today is expected among the support at 1280.00 and resistance at 1316.00

Support and resistance:

Support: 1286.8-1262.81-1251.32

Resistance: 1301.43-1318.00

The general trend for today is bullish

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Sberbank fell slightly in last week's trading session in a correction to the bullish movement that started two weeks ago

The bullish trend is likely to continue, supported by the moving averages 7-50 who are heading to the positive cross, near the Fibonacci retracement of 23.6% at 193 ...

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Sberbank fell slightly in last week's trading session in a correction to the bullish movement that started two weeks ago

The bullish trend is likely to continue, supported by the moving averages 7-50 who are heading to the positive cross, near the Fibonacci retracement of 23.6% at 193.85

The Stochastic is moving sideways in the overbought area, supporting the upside move, but it should be noted that in the event of any cross between the two lines of the indicator leaving the region may lead to a correction in the price movement towards the support levels 191.36

The trading range between support 181.07 and resistance 202.00

The general trend of the movement is bullish

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Signal

Having sensed the market’s bullish attitude, hedge funds and speculators keep expanding their long position presence. It’s high time you, too, made your profit after the rebound, while it’s not too late. And it will surely happen! The system of indicators used successfully by 973 traders ...

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Signal

Having sensed the market’s bullish attitude, hedge funds and speculators keep expanding their long position presence. It’s high time you, too, made your profit after the rebound, while it’s not too late. And it will surely happen! The system of indicators used successfully by 973 traders in 17 countries is now available to you. It promptly demonstrated a reversal at the important number 50 and suggested at which levels to buy.

(weekly chart)

As for when will it happen, the answer is provided by the fundamental background. Something is already implied in the price: trade war ceasefire which is curbing the demand for raw materials in China and other growing economies and the reduced export within OPEC+ deal on the part of Russia, Saudi Arabia and other countries. What will support the rebound? First of all, it’s the dynamics of the slate industry in the US and Trump’s desire to stabilize prices.

Benchmark

Besides, it’s interesting that the Brent quotation is formed not as a price of clean oil of this North Sea oil type, but as a basket containing five oil classifications: Brent, Osoberg, Ekofisk, Troll and Fortis. Physical sales transactions involving it are registered in the OTC system Platts. 70% of all trades in the world’s oil market today are priced using Brent as a benchmark, but only 5% of all oil contracts in the futures market are backed by real physical volumes, and now it’s harmful for the oil industry players (they created it to hedge transactions), as the producers and consumers are interested in stable prices, while speculators want the market to be as volatile as possible. And they will not miss the coming opportunity! It’s all just beginning, join in!

Contact your personal manager and register for trading education and you’ll learn what truly professional approach to the market is!

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EURUSD

The pair is still in uptrend as the Fed is expected to stop interest rate hikes. Today’s US consumer inflation data may trigger its further growth. If the data confirms the trend of slower inflation, the pair may continue its local growth.

The price is above the middle ...

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EURUSD

The pair is still in uptrend as the Fed is expected to stop interest rate hikes. Today’s US consumer inflation data may trigger its further growth. If the data confirms the trend of slower inflation, the pair may continue its local growth.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and is indicating weaker growth. Stoch are growing and passing the level of 50%.

Trading recommendations:

If the pair goes above 1.1535, it may continue further up to 1.1615.

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