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July 2019

Gold futures traded in a tight range slipping towards the Asian session to bounce back higher since July 3, when it tested its highest since June 25, its highest in more than six years, The US dollar, according to the inverse relationship between them on the eve of developments and ...

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Gold futures traded in a tight range slipping towards the Asian session to bounce back higher since July 3, when it tested its highest since June 25, its highest in more than six years, The US dollar, according to the inverse relationship between them on the eve of developments and economic data expected Thursday by the US economy, the largest economy in the world.

Gold futures for August delivery fell 0.35% to currently trade at $ 1,423.50 per ounce compared to the opening at $ 1,428.50 per ounce. The contracts opened the session on a bullish gap after closing To $ 1.423 per ounce, while the dollar index fell 0.12% to 97.07 compared to the opening at 97.19.

Investors are currently waiting for the US economy to read the Jobless Claims reading for the week ending on the 13th of this month, which could reflect a rise of 7K to 216K vs. 209K in the previous week's reading. On the sixth of this month decreased by 23 thousand applications to 1,700 thousand applications against 1,723 thousand applications.

The markets are also looking to release the Philadelphia Manufacturing Index, which may reflect a widening to 5.0 vs. 0.3 in June, ahead of the leading index reading, which could show 0.1% growth versus zero in May, And Federal Reserve Bank of New York Chairman John Williams on monetary policy at the annual meeting of the Central Bank Research Association in New York.

Technical Analysis

 

The price of gold succeeded in confirming the breach of symmetrical triangle resistance shown in the above chart after yesterday's close above it, which supports the chances of continuation of the bullish trend over the short term and intraday, awaiting the test of 1438.90 as the next major station.

SMA 50 continues to support the price from below, to continue the bullish trend in the coming sessions, with a reminder that breaching the mentioned level will push the price to 1500.00 as the next main station, while the expected upside will remain intact unless the level of 1400.30 is broken and stability below it.

The trading range for today is among the support at 1410.00 and resistance at 1445.00

The general trend for today is bullish.

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The US dollar fell during the US session to rebound to the fifth session in seven sessions of the highest since May 31 against the Japanese yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and on the eve of developments ...

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The US dollar fell during the US session to rebound to the fifth session in seven sessions of the highest since May 31 against the Japanese yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and on the eve of developments and economic data expected on Thursday by The US economy is the largest economy in the world.

At 05:52 GMT, the US dollar was down 0.25% to 107.68 from the opening level at 107.95, after hitting its lowest level since July 3 at 107.64. Trading session at 108.00.

We followed the Japanese economy's reading of the trade balance index, which showed the deficit shrank to 14 billion yen against a surplus of 622 billion yen in May, exceeding expectations that the deficit shrank to 141 billion yen, while the seasonally adjusted index The same as a surplus of 590 billion yen against a deficit of 968 billion yen in May, also outperforming expectations of a surplus of 404 billion yen.

This came in contrast to the annualized reading of exports, which fell to 6.7% from 7.8% in the previous reading for May, below expectations of a decline of 5.4%. The annual reading of imports showed the decline to 5.2% compared to 1.5% Earlier than in May, worse than expectations of a contraction of 0.2%.

This comes hours after Bank of Japan Governor Haruhiko Kuroda said that the Japanese economy will continue to grow at a moderate pace and domestic demand is stable, noting that there are many risks that threaten the outlook for global economic growth and its evidence that the global economy is growing at a moderate pace. The Japanese may expand the adoption of stimulus in the case of weakening inflationary pressures, which hinders access to inflation target at 2%.

On the other hand, investors are currently looking for the US economy to read the index of claims for the week ending on 13 of this month, which may reflect a rise of 7 thousand applications to 216 thousand applications, while may show the reading of the index requests for aid investors for the week of the sixth of this month Down 23,000 to 1,700,000.

The markets are also looking to release the Philadelphia Manufacturing Index, which may reflect a widening to 5.0 vs. 0.3 in June, ahead of the leading index reading, which could show 0.1% growth versus zero in May, And Federal Reserve Bank of New York Chairman John Williams on monetary policy at the annual meeting of the Central Bank Research Association in New York.

Technical Analysis

 

The USDJPY broke the neckline of the head and shoulders pattern mentioned in our latest report, to do the negative impact of this pattern, which supports expectations for a continuation of the bearish trend over the coming period, opening the way towards 106.78 which is our next main target.

Therefore, we are awaiting further bearishness over intraday and short term, provided that the price remains steady below 108.10 - 108.30.

The trading range for today is expected among the support at 107.00 and the resistance at 108.30

The general trend for today is bearish.

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EURUSD
 
The pair is trading above the support level of 1.245 in anticipation of the Fed’s final decision on monetary policy at the end of this month. As long as there is uncertainty in the monetary policy of the Federal reserve, the pair will remain generally under pressure ...
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EURUSD
 
The pair is trading above the support level of 1.245 in anticipation of the Fed’s final decision on monetary policy at the end of this month. As long as there is uncertainty in the monetary policy of the Federal reserve, the pair will remain generally under pressure.
 
The price is below the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the level of 50% and is turning downwards. Stoch have entered into overbought territory and suggest a weakening of growth rates.
Trading recommendations:
If the data of the Philly Fed Manufacturing Activity Index is be better than expected, the pair may continue dropping to 1.1190 and then to 1.1125.
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Aeroflot is back to test support 107.25 again after failing to breach resistance 112.33

The price has moved below the moving average of 7.

While the 20-50 averages remain below the price and constitute a positive pressure on the price.

Stochastic is in a downtrend that is overshadowing ...

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Aeroflot is back to test support 107.25 again after failing to breach resistance 112.33

The price has moved below the moving average of 7.

While the 20-50 averages remain below the price and constitute a positive pressure on the price.

Stochastic is in a downtrend that is overshadowing the oversold area so the price can break through 107.25 support.

General trend of the movement: bearish.

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Gold futures traded in a tight range slipping during the Asian session to see their 11-day rally rebound in 16 sessions from its highest since May 14, 2013, shedding the USD index for the first time in three sessions according to the inverse relationship between them On the eve of ...

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Gold futures traded in a tight range slipping during the Asian session to see their 11-day rally rebound in 16 sessions from its highest since May 14, 2013, shedding the USD index for the first time in three sessions according to the inverse relationship between them On the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world.

Gold futures for August delivery fell 0.09% to currently trade at $ 1,406.70 per ounce compared to the opening at $ 1,407.90 an ounce. The contracts started trading on a bearish price gap after closing Yesterday at $ 1,411.20 an ounce, while the dollar index rose 0.03% to 97.34 compared to the opening at 97.37.

Investors are currently waiting for the US economy to release data on the housing market with the Housing Starts and Construction Permits reading for June, expected to see building permits slow to 0.1% for 1,300K versus 0.3% at 1,294K. May, while the start-up homes may show a decline to 0.7% for 1,260,000 homes versus 0.9% at 1,269,000.

This comes before we see the disclosure of the book report Beige, which is important in being issued two weeks before the meeting of the Federal Open Market Committee, which is one of the pillars on which the monetary policy makers of the Federal Reserve decisions and directions to support and stimulate the US economy, knowing that the next meeting The next federal commission will be held on 30-31 of July.

Otherwise, we have followed Tuesday the US president said that the road is still long before talking about the possibility of reaching a trade agreement with China, with both the European Union and China are pumping money into their financial system, and his testimony that his administration can impose customs duties on imports America from China if desired, adding that the cut in the federal funds rate will support the stock markets and their rise.

US Treasury Secretary Stephen Minoch noted earlier this week that a telephone conversation with Chinese officials was expected later this week as part of the resumption of trade talks between the Washington-Washington trade agreement. In another context, Chinese Premier Li Kiping said that the risks The decline is growing against China's economic growth and his country will maintain prudent monetary policy and proactive fiscal policy.

Otherwise, we also followed yesterday. Fed Governor Jerome Powell said US inflation accelerated last month to 1.7%, saying inflationary pressures were still below 2% and that the Federal Reserve was "carefully watching" And will "act as necessary to maintain the expansion," he said in testimony before Congress last week.

Technical Analysis

The price of gold has tested a fresh test of 1400.30 and remains stable above it. The bullish scenario remains valid for the coming period as the price moves within a symmetrical triangle that shows its features, awaiting a breach of 1423.00 to facilitate the move toward our first major target at 1438.90.

On the other hand, keep in mind that a break of 1400.30 will press the price to make further bearish correction and visit 1376.30 areas in the near term.

The trading range for today is among the support at 1395.00 and resistance at 1425.00

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 developments and economic data expected Wednesday by the Eurozone economies and the US economy, the world's largest economy.

At 0539 GMT, the EURUSD ...

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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 developments and economic data expected Wednesday by the Eurozone economies and the US economy, the world's largest economy.

At 0539 GMT, the EURUSD rose 0.04% to 1.1215, compared with the opening at 1.1211 after the pair reached a high of 1.1217 and the lowest at 1.1217.

Investors are now eyeing the Euro-zone economy as a whole to reveal inflation data with the release of the annual CPI reading, which could reflect a stable 1.2% growth, And the core annual reading of the index itself may show a stable growth of 1.1% versus 0.8% in May.

On the other hand, investors are currently looking for the US economy to release housing market data with the Housing Starts and Construction Permits reading for June, expected to see building permits slow to 0.1% for 1,300K vs. 0.3% 1,294 thousand in May, while the start-up homes may show a decline to 0.7% for about 1,260 thousand homes compared to 0.9% at 1,269 thousand homes.

This comes before we see the disclosure of the book report Beige, which is important in being issued two weeks before the meeting of the Federal Open Market Committee, which is one of the pillars on which the monetary policy makers of the Federal Reserve decisions and directions to support and stimulate the US economy, knowing that the next meeting The next federal commission will be held on 30-31 of July.

Technical Analysis

The EUR / USD pair is trading around the 1.1200 level, and the pair is facing a trade-off between the technical factors as the price moves below the support of the ascending intraday channel, which is under negative pressure formed by SMA 50, while the price remains above the pivotal support at 1.1180, Positive signals through stochastic.

Therefore, we prefer to remain neutral until we get a clearer signal for the next direction by breaking the resistance 1.1295 or break the support at 1.1180, noting that breaking this support will press the price to provide additional negative trades targeting the 1.1100 areas, Will push the price to resume the positive scenario with the following key targets at 1.1350 and 1.1443.

The trading range for today is expected among the 1.1120 support and the 1.1300 resistance

The expected general trend today: Depends on the levels mentioned in the report

 

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The Australian dollar fluctuated in a tight range slipping towards the Asian session as it rebounded for the second consecutive session of its highest since July 4 against the US dollar following developments and economic data that followed it on the Australian economy and on the eve of developments and ...

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The Australian dollar fluctuated in a tight range slipping towards the Asian session as it rebounded for the second consecutive session of its highest since July 4 against the US dollar following developments and economic data that followed it on the Australian economy and on the eve of developments and economic data expected on Wednesday by The US economy is the largest economy in the world.

At 0239 GMT, the AUDUSD fell 0.07% to 0.7007, compared to the opening levels of 0.7012, after reaching a low of 0.7006, while the highest at 0.7020. 

We followed the Australian economy to release the leading indicators from the Melbourne Institute, which showed a steady decline of 0.3% in June, hours after the Reserve Bank of Australia unveiled the minutes of the Australian Central Bank meeting held on July 2 which During which interest rates were cut by 25 basis points for the second straight session to a record low of 1.00% from 1.25%.

"The board will continue to closely monitor labor market developments and adjust monetary policy if necessary to support sustained growth and inflation target over time," said the minutes of the Reserve Bank of Australia's monetary policy meeting on Tuesday. "Low interest rates will provide more jobs for Australians and help Achieving secure progress towards the inflation target ".

On the other hand, investors are currently looking for the US economy to release housing market data with the Housing Starts and Construction Permits reading for June, expected to see building permits slow to 0.1% for 1,300K vs. 0.3% 1,294 thousand in May, while the start-up homes may show a decline to 0.7% for about 1,260 thousand homes compared to 0.9% at 1,269 thousand homes.

This comes before we see the disclosure of the book report Beige, which is important in being issued two weeks before the meeting of the Federal Open Market Committee, which is one of the pillars on which the monetary policy makers of the Federal Reserve decisions and directions to support and stimulate the US economy, knowing that the next meeting The next federal commission will be held on 30-31 of July.

Technical Analysis

The AUDUSD remains steady below 0.7044, and Stochastic is beginning to turn negative on today's intraday basis, prompting the pair to provide negative trading in the coming sessions targeting 0.6970 and 0.6900 respectively. Level of 0.7044.

The trading range for today is expected among the support at 0.6960 and the resistance at 0.7050

The general trend for today is bearish.

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The US dollar fluctuated in a tight range slipping into the US session to see its rebound for the fourth session in six sessions from its highest since May 31 against the Japanese yen amid a lack of economic data earlier this week by the Japanese economy and on the ...

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The US dollar fluctuated in a tight range slipping into the US session to see its rebound for the fourth session in six sessions from its highest since May 31 against the Japanese yen amid a lack of economic data earlier this week by the Japanese economy and on the eve of developments and economic data expected On Wednesday by the US economy, the world's largest economy.

At 06:26 GMT, the pair dropped 0.04% to 108.20 from the opening level at 108.25, after reaching a low of 108.11 and a high of 108.33.

Investors are currently waiting for the US economy to release data on the housing market with the Housing Starts and Construction Permits reading for June, expected to see building permits slow to 0.1% for 1,300K versus 0.3% at 1,294K. May, while the start-up homes may show a decline to 0.7% for 1,260,000 homes versus 0.9% at 1,269,000.

This comes before we see the disclosure of the book report Beige, which is important in being issued two weeks before the meeting of the Federal Open Market Committee, which is one of the pillars on which the monetary policy makers of the Federal Reserve decisions and directions to support and stimulate the US economy, knowing that the next meeting The next federal commission will be held on 30-31 of July

Technical Analysis

The USD / JPY pair traded positively yesterday to move above 108.10, but we see that Stochastic is showing negative signs. We expect to press the pair lower again, and by looking at the chart, we find that the price is drawing a head and shoulders pattern that we believe will stimulate the price to resume The main bearish trend again.

Therefore, the overall negative scenario will remain for the next period unless the breach of 108.40 and stability above it, noting that the break 107.85 will complete the formation of the negative model and push the price to 106.78 directly.

The trading range for today is expected among the key support at 107.40 and the resistance at 108.70

The general trend for today is bearish

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GBPUSD

The pair is trading above the support level of 1.2400. It’s under a very strong pressure caused by the high likelihood of no-deal Brexit, which can happen after Boris Johnson takes over the office.

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

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GBPUSD

The pair is trading above the support level of 1.2400. It’s under a very strong pressure caused by the high likelihood of no-deal Brexit, which can happen after Boris Johnson takes over the office.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold territory and is reversing downwards. Stoch are also there and aren’t informative.

Trading recommendations:

Sell the pair after it goes below 1.2400 with a possibility of a drop to 1.2330.

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Google shares broke through the resistance at 1137.55 and closed above it to continue moving within the ascending channel. Where the SMA 50 formed a barrier to the price but managed to break through it and move above it.

Price movement under the influence of positive pressure of the ...

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Google shares broke through the resistance at 1137.55 and closed above it to continue moving within the ascending channel. Where the SMA 50 formed a barrier to the price but managed to break through it and move above it.

Price movement under the influence of positive pressure of the moving averages that move below the price and constitute levels of support for it.

Stochastic in the overbought area will push the price to test support levels at the 7-20 moving averages.

General direction of the movement: ascending path.

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