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The single currency of the European Union (EU) region fell broadly during the US session, its lowest since January 27 last year against the US dollar following developments and economic data followed Monday by the Euro-zone economies and the absence of the US market this weekend due to holiday Veterans ...

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The single currency of the European Union (EU) region fell broadly during the US session, its lowest since January 27 last year against the US dollar following developments and economic data followed Monday by the Euro-zone economies and the absence of the US market this weekend due to holiday Veterans Day.

At 05:46 pm GMT, the EURUSD fell 0.79% to 1.1246, compared with the opening levels at 1.1331 after hitting the lowest level since early 2017 at 1.1240 while the highest at 1.1332.

EU chief negotiator Michel Barnier told the EU's 27 remaining members that the main elements of the text of Britain's exit agreement from the European Union were ready for submission to the British cabinet on Tuesday and that he remained optimistic about an agreement between the parties.

In a similar vein, another report said that European Council President Donald Tusk had earlier told British Prime Minister Theresa May that the deadline for ending the exit agreement for the November summit is after Wednesday and therefore if the agreement is concluded after It is time to postpone the summit to the middle of next month.

Technical analysis:

The EUR / USD pair is showing further bearishness to continue to approach our main target at 1.1181, reinforcing expectations for the bearishness over the short and short term, with price to be monitored at the mentioned level as breaching it will cause an extension of the downside wave over the longer term.

The EUR / USD pair resumed its negative trading strongly to break the 1.1300 level and push down towards the next target at 1.1181. The bearish scenario remains valid for the coming sessions, supported by negative pressure formed by SMA 50 and Stochastic remains intact.

Noting that stability below 1.1300 represents a precondition for the continuation of the expected decline.

The trading range for today is expected among 1.1180 support and 1.1400 resistance.

Support and resistance:

Support: -1.1180-1.1100

Resistance: 1.1275-1.1350-1.1400

The general trend for today is bearish.

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The average price is moving around SMA 50 remains stable below 6500.00 while Stochastic is overbought.

Therefore, our bearish outlook remains intact, relying on stability below 6500.00, with our main awaited targets at 6040.00 and 5880.00.

The trading range for today is among the support at ...

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The average price is moving around SMA 50 remains stable below 6500.00 while Stochastic is overbought.

Therefore, our bearish outlook remains intact, relying on stability below 6500.00, with our main awaited targets at 6040.00 and 5880.00.

The trading range for today is among the support at 6000.00 and resistance at 6500.00.

Support and resistance:

 support 6400-6330-6000

Resistance: 6470.50-6600-6770

The general trend for today is bearish.

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Crude oil futures rose more than 1 percent during the Asian session to see Nymex crude rise for the first time in 11 sessions, ending the longest daily losses since mid-1984 and seeing Brent crude rise for the second session in 11 sessions, The fourth lowest since October 22, according ...

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Crude oil futures rose more than 1 percent during the Asian session to see Nymex crude rise for the first time in 11 sessions, ending the longest daily losses since mid-1984 and seeing Brent crude rise for the second session in 11 sessions, The fourth lowest since October 22, according to the inverse relationship between them amid a lack of economic data by the US economy on Monday because of the Veterans Day holiday in the United States.

Crude oil futures for December delivery rose 1.26% to trade at $ 60.95 a barrel from $ 60.19 a barrel. Brent crude futures rose 15% (January) 1.74% to trade at $ 71.40 a barrel compared to the opening at $ 70.18 per barrel, while the dollar index rose 0.13% to 97.03, the highest since the beginning of this month compared to the opening at 96.90.

Saudi Energy Minister Khalid al-Falih said on Sunday in Abu Dhabi during a meeting of the committee that oversees the agreement to cut world oil production in 2016 by 1.2 million barrels per day, which was expanded to 1.8 million barrels per day earlier this year between OPEC And its allies producers from outside, led by Russia, because the demand for Saudi oil is declining due to seasonal factors and then Saudi Arabia will reduce production.

Saudi Arabia, the world's third largest oil producer and the largest producer of the Organization of the Petroleum Exporting Countries (Opec) and the world's largest oil exporter, has said it plans to cut its oil exports by 500,000 bpd next month, coinciding with a warning from OPEC and its producer allies. Over the weekend that they may need "new strategies", which enhances opportunities for expansion of production reduction policies.

Earlier this month, the Russian Energy Ministry reported that Russia's oil production rose to its highest level in three decades during the past month to 11.41 million barrels per day. We would like to point out that Russia is still committed to OPEC with the agreement to reduce global production Of oil by 1.8 million barrels per day until the end of this year, Russia's share of the agreement about 600 thousand barrels per day.

In addition, last week we followed US Secretary of State Mike Pompeo's statement that the United States had decided to exempt eight countries - China, India, South Korea, Japan, Italy, Greece and Taiwan and Turkey - from abiding by US economic sanctions. Iran, where they will be allowed to import Iranian oil for 180 days without signing any US sanctions on them.

Technical Analysis:

The price of oil is showing some bullishness approaching the resistance test of the descending channel, which is currently at 61.60, accompanied by stochastic loss of the positive momentum and approaching the overbought areas. The 20 MA is pushing the price down while SMA 50 continues to protect the trades Within the descending channel.

Therefore, we will maintain our bearish outlook for the upcoming sessions unless the 61.60 level is breached and stability above it, noting that our next main target is at 58.00.

Support and resistance:

Support: 60.22-59.80-57.90

Resistance: 61.30-62.00-62.65

The trading range for today is expected among the support at 59.00 and the resistance at 62.00

The general trend for today is bearish.

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Gold futures fluctuated in a narrow upward range during the Asian session to see their rebound to its second lowest session since October 11, capping the US dollar's rebound to its fourth straight session since 22nd of the same month according to the inverse relationship between them Amid a ...

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Gold futures fluctuated in a narrow upward range during the Asian session to see their rebound to its second lowest session since October 11, capping the US dollar's rebound to its fourth straight session since 22nd of the same month according to the inverse relationship between them Amid a lack of economic data by the US economy on Monday because of the Veterans Day holiday in the United States.

Gold futures for December delivery rose 0.16% to currently trade at $ 1,210.50 per ounce, compared with the opening at $ 1,208.60 an ounce, while the dollar index rose 0.09% to 96.99 levels compared to the opening at 96.90.

Technical Analysis:

Gold is trading at 1208.40, and we note that the price completed the formation of a double top pattern shown in the picture on the stock, which supports the chances of the extension of the short-term bearish wave, noting that breaking the levels of 1208.40 and then 1198.00 will confirm opening the way to target areas of 1180.00 during the coming sessions.

Indicators confirm the bearishness as the Stochastic in the oversold areas and the moving averages 7-20-50 in an ideal order for the hedge and press the price for further decline.

Therefore, we will continue to bias the downside move for today, unless the 1223.00 level is breached and stability above it.

The trading range for today is among the support at 1190.00 and resistance at 1223.00.

Support and resistance:

Support: 1208.60-1198.00-1186.60

Resistance: 1214.40-1223.00-1227.70

The general trend for today is bearish.

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The single currency of the European Union region fluctuated in a narrowly bearish range during the Asian session to see its rebound to its fourth-highest session since October 22 against the US dollar on the eve of developments and economic data expected on Monday by the third largest economy of ...

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The single currency of the European Union region fluctuated in a narrowly bearish range during the Asian session to see its rebound to its fourth-highest session since October 22 against the US dollar on the eve of developments and economic data expected on Monday by the third largest economy of the euro zone Italy Amid the US market absent Monday due to Veterans Day holiday.

At 5:18 am GMT, the EURUSD dropped 0.17% to 1.1317 compared to the opening at 1.1336 after hitting its lowest level since the beginning of November at 1.1312 while the highest at 1.1332 .

The markets are currently eyeing the release of the Industrial Production Index, which could reflect a 0.5% drop from a 1.7% rise in August, coinciding with a rise in Italian bond yields following the EU warning from Kon The budget deficit of the Italian government will move dangerously near the Union's borders by three percent.

Technical Analysis:

EURUSD is trading around the 1.1325 level, and the price is under further negative pressure which makes us expect the bearish bias to continue in the coming sessions, waiting for the break of 1.1300 to confirm the extension of the downside wave towards 1.1181 as the next major station.

Stability below 1.1443 is important for the continuation of the expected decline, as breaching it will lead the price to start recovery attempts targeting the areas of 1.1550 then 1.1705 initially.

The indicators give a negative view of the decline as the Stochastic is still in the oversold area.

The SMA 7 is pushing the price to push for further downside while we wait for the cross of the SMA20-SMA50 to confirm the ideal descending order.

The trading range for today is expected among 1.1230 support and 1.1400 resistance.

Support and resistance:

Support: 1.1300-1.1230-1.1180

Resistance: 1.1360-1.1400-1.1450

The general trend for today is bearish.

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EURUSD

The pair is trading below 1.1340 amid the stronger USD positions and the pending GDP data in Germany and eurozone for the third quarter. It’s expected to indicate decline against the backdrop of the eurozone’s stagnation, which would affect the single currency rate negatively.

The price ...

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EURUSD

The pair is trading below 1.1340 amid the stronger USD positions and the pending GDP data in Germany and eurozone for the third quarter. It’s expected to indicate decline against the backdrop of the eurozone’s stagnation, which would affect the single currency rate negatively.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is entering the oversold zone. Stoch are reversing downwards.

Trading recommendations:

If the pair passes 1.1300, it will plunge further to 1.1250.

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The single currency of the European Union region fluctuated in a tight range to retreat during the Asian session to see its rebound to its third-highest session since October 22 against the US dollar on the eve of economic developments and data expected on Friday by Eurozone economies and the ...

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The single currency of the European Union region fluctuated in a tight range to retreat during the Asian session to see its rebound to its third-highest session since October 22 against the US dollar on the eve of economic developments and data expected on Friday by Eurozone economies and the US economy. The world economy and the forthcoming talk of Fed Governor and Federal Open Market Committee member Randall Cowards about financial regulation at the Brookings Institution in Washington.

At 05:06 GMT, the EURUSD fell 0.15% to 1.1346, compared to the opening at 1.1363 after hitting its lowest since early November at 1.1341, while the highest of the session at 1.1369 .

The markets are currently waiting for the release of the Industrial Production Index, which may reflect a 0.3% drop from 0.3% in August. Meanwhile, Italian bond yields rose following the European Union's warning that a budget deficit The government of Italy, the region's third-largest economy, will move dangerously near the Union's borders by three percent.

On the other hand, investors are looking for the US economy to release the Producer Price Index (PPI), a preliminary index of inflationary pressures that could reflect a 0.2% growth in stability, unchanged from September, while the annual reading of the same index may show slower growth To 2.5% from 2.6% in the previous annual reading for September.

In the same context, the core reading of the PPI may show a 0.2% growth rate unchanged from September, while the Core Annual Report itself may show a slowdown in growth to 2.3% versus 2.5% before we see The final reading of the Wholesale Inventories Index, which may reflect a stability of 0.3%, is largely unchanged from the previous reading for September and 1.0% in August.

To the initial reading of the University of Michigan Consumer Sentiment Index, which could reflect a narrowing to 98.0 versus 98.6 last October, after the FOMC meeting ended in which monetary policy makers agreed to stay short of benchmark interest rates Term trading at between 2.00% and 2.25%, which was expected by market analysts.

Technical Analysis:

The EUR / USD pair continues to show negative trading after confirming the completion of the previously mentioned bearish flag formation, reinforcing the chances for the continuation of the bearishness over intraday and short term basis, with its first target at 1.1300, noting that breaking this level will extend the bearish wave to reach To 1.1181.

This is supported by the indicators as the Stochastic is in the overbought level and the MACD is beginning to give bearish signals. All trades are below the average line of the Bollinger Index and near the bottom line while at the same time the moving averages sma7-sma20and sma50 are pushing on   the price and further downward.

Therefore, we will maintain our bearish bias unless the 1.1443 level is breached and stability above it.

The trading range for today is expected among the 1.1250 support and 1.1400 resistance

Support and resistance:

Support: 1.1300-1.1250-1.1180

Resistance: 1.1394-1.1450-1.1490

The general trend for today is bearish

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Gold futures fell during the Asian session to see their lowest since early November amid the rebound of the dollar index for the second session of its lowest since October 22 according to the inverse relationship between them following developments and economic data that followed the Chinese economy, the largest ...

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Gold futures fell during the Asian session to see their lowest since early November amid the rebound of the dollar index for the second session of its lowest since October 22 according to the inverse relationship between them following developments and economic data that followed the Chinese economy, the largest importer of metals On the eve of economic data expected Friday by the US economy, the largest economy in the world and the expected talk of federal committee member Randall Quarles about the financial organization in Washington.

Gold futures for December delivery fell 0.48% to currently trade at $ 1,219.20 per ounce, the lowest level in more than a week compared to the opening at $ 1,225.10 per ounce, amid the rise of the US dollar index of 0.05 % To 96.77, the highest level since the beginning of this month compared to the opening at 96.72.

We have followed the Chinese economy, the world's second-largest economy, to reveal the annual reading of the consumer price index, which showed a stable growth rate of 2.5%, unchanged from the previous September reading, in line with expectations, while the annual reading of PPI The slowdown in growth to 3.3% is also consistent with expectations compared to 3.6% in the previous annual reading for the month of September.

On the other hand, investors are looking for the US economy to release the Producer Price Index (PPI), a preliminary index of inflationary pressures that could reflect a 0.2% growth in stability, unchanged from September, while the annual reading of the same index may show slower growth To 2.5% from 2.6% in the previous annual reading for September.

In the same context, the core reading of the PPI may show a 0.2% growth rate unchanged from September, while the Core Annual Report itself may show a slowdown in growth to 2.3% versus 2.5% before we see The final reading of the Wholesale Inventories Index, which may reflect a stability of 0.3%, is largely unchanged from the previous reading for September and 1.0% in August.

Leading to the release of the University of Michigan's consumer confidence index, which may reflect a narrowing to 98.0 versus 98.6 in October, hours after the FOMC meeting ended, during which monetary policy makers agreed to stay on benchmark interest rates Short term at between 2.00% and 2.25%, which was expected by market analysts.

Technical Analysis:

The price of gold is showing further bearishness and is gradually approaching our main target at 1208.40. The bearish trend will continue to be effective in the coming sessions, noting that breaking the mentioned level will extend the downside wave to reach 1198.00 as a next stop.

Stochastic is providing a negative signal that supports the possibility of further decline which requires stability to remain below 1238.30

Waiting for the success arrange of the sma7-sma20and sma50

The trading range for today is expected among the support at 1200.00 and the resistance at 1230.00

The general trend for today is bearish

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The royal currency fluctuated during the American session yesterday to witness its rebound to the second session of its highest since October 17 against the US dollar amid a lack of economic data by the British Royal economy and following developments and economic data that followed Thursday the largest US ...

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The royal currency fluctuated during the American session yesterday to witness its rebound to the second session of its highest since October 17 against the US dollar amid a lack of economic data by the British Royal economy and following developments and economic data that followed Thursday the largest US economy A world economy and a view of the FOMC meeting in Washington.

GBPUSD dropped to 1.3010 from the opening levels of 1.3060 after the pair reached a low of 1.3010 and a high of 1.3069.

Technical Analysis:

The GBPUSD extended yesterday's negative trading session near the SMA 50, accompanied by stochastic access to oversold areas and the price reached the Bollinger's bottom line, awaiting a rebound to resume the upside move.

All in all, we will keep our bullish outlook intact unless the 1.2960 level is breached and stability above it, noting that we are waiting for a visit to 1.3226, which is our primary target.

The trading range for today is expected among 1.2980 support and 1.3150 support

Support and resistance:

Support: 1.2970-1.2930-1.2870

Resistance: 1.3070-1.3125-1.3170

The general trend for today is bullish

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EURUSD

The pair is in downtrend due to stronger position of the USD rate following the Fed meeting which indicated the regulator’s firm intent to continue raising interest rates. The pair may still recover thanks to partial profit taking, but it’s more likely to continue falling, considering that ...

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EURUSD

The pair is in downtrend due to stronger position of the USD rate following the Fed meeting which indicated the regulator’s firm intent to continue raising interest rates. The pair may still recover thanks to partial profit taking, but it’s more likely to continue falling, considering that the Fed is expected to raise interest rates in December.

The price is on the lower Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving down. Stoch are in the oversold zone.

Trading recommendations:

The pair may rebound to 1.1375 due to partial profit taking. Sell the pair from this level and after it falls below 1.1345 with a possible target of 1.1300.

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