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July 2019

Gold futures traded in a tight range slipping during the Asian session to see their 10-session rally back in 15 sessions from its highest since May 14, 2013 as the US dollar index rose on the back of the economic calendar Tuesday by the US economy, the largest economy in ...

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Gold futures traded in a tight range slipping during the Asian session to see their 10-session rally back in 15 sessions from its highest since May 14, 2013 as the US dollar index rose on the back of the economic calendar Tuesday by the US economy, the largest economy in the world, including the talk of Federal Reserve Governor Jerome Powell and many members of the Federal Open Market Committee.

Gold futures for August delivery fell 0.08% to currently trade at $ 1,415.30 per ounce compared to the opening at $ 1,416.40 an ounce. The contracts started the trading session on a bullish price gap after closing the trading session. Yesterday at $ 1.413.50 per ounce, amid the dollar index rose 0.01% to 96.93 compared to the opening at 96.92.

Investors are looking forward to Federal Reserve Vice Governor and Federal Open Market Committee member Michelle Bowman's opening remarks at the Federal Fed hearing in Atlanta before we see a reading of the import price index, which could reflect a 0.7% drop from 0.3%. May, and the index's annual reading may also show a widening of the decline to 2.1% versus 1.5%.

This comes in conjunction with the disclosure by the US economy of reading retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect slower growth to 0.1% versus 0.5% in May, as may appear reading Core for the same index slowed growth to 0.1% versus 0.5% in May.

Also, the world's largest industrial producer may see the Industrial Production Index reading, which may show a slowdown in growth to 0.1% from 0.4% in May, while the Energy Efficiency Index may show growth accelerating to 78.2% from 78.1% in May, Before we see the release of housing market data with the housing index reading released by the National Association of Home Builders, which may reflect stability at a value of 64 in June.

This comes in conjunction with the reading of wholesale stocks, which may indicate slowing growth to 0.4% versus 0.5% in April, leading to Federal Reserve Governor Jerome Powell delivering a speech entitled "Monetary Policy Aspects in the Post-Crisis Era" at the G7 Presidency French President of the Reserve Bank of Chicago and member of the Federal Committee Charles Evans in an interview with CNN-PBC.

Market speculation that Federal Reserve monetary policy makers will cut federal funds at the July 30-31 Federal Commission meeting widened last week after Federal Reserve Governor Paul delivered his biannual testimony to Congress. Following the disclosure, On the minutes of the Fed's latest meeting, which in turn supported cuts in interest rates by 25 basis points later.

Technical Analysis

The price of gold has been trading sideways since yesterday and is moving near the SMA 50 which continues to support the price from the bottom, noting that the price is confined within a symmetrical triangle shown in the image, which means that the breach of 1424.00 will provide a positive positive momentum supporting the continuation of the main bullish trend.

Therefore, we believe that opportunities are available to continue the bullish trend during the coming sessions, targeting 1438.90 as the next major station, noting that stability above 1400.30 is important for the continuation of the suggested positive scenario.

The trading range for today is expected among the support at 1400.00 and resistance at 1430.00.

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 to see its fourth session retreat in its lowest six since June 19 against the US dollar on the eve of economic developments and data expected Tuesday by the Eurozone economies and ...

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The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its fourth session retreat in its lowest six since June 19 against the US dollar on the eve of economic developments and data expected Tuesday by the Eurozone economies and the US economy The largest economy in the world, including the talk of Federal Reserve Governor Jerome Powell and many members of the Federal Open Market Committee.

At 04:49 GMT, the EURUSD rose 0.02% to 1.1260, compared to the opening at 1.1258 after the pair hit a session high of 1.1263 and the lowest at 1.1255.

Investors are currently waiting for Italy's third-largest economy to release the trade balance index, which could show a surplus of 2.91 billion euros from 2.89 billion euros in April, before we see the seasonally adjusted index of the trade balance index for economies The euro zone as a whole, which could explain the widening surplus to 16.4 billion euros from 15.3 billion euros in April.

This comes in conjunction with a statistical reading of the ZEW Economic Sentiment Index for Germany, the largest euro-zone economy and Eurozone economies as a whole, which may reflect the contraction of Germany's contraction to 22.1 from 21.1 last June and the contraction of the economies of the region as a whole. Worth 20.9 versus 20.2 in June.

On the other hand, investors are looking for Federal Reserve Vice President and Federal Open Market Committee member Michelle Bowman to make an opening remarks at the Federal Fed Hearing event in Atlanta before we see a reading of the import price index which could reflect a 0.7% 0.3% in May, and the same year's annual reading may show the widening of the decline to 2.1% versus 1.5%.

This comes in conjunction with the disclosure by the US economy of reading retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect slower growth to 0.1% versus 0.5% in May, as may appear reading Core for the same index slowed growth to 0.1% versus 0.5% in May.

Also, the world's largest industrial producer may see the Industrial Production Index reading, which may show a slowdown in growth to 0.1% from 0.4% in May, while the Energy Efficiency Index may show accelerated growth to 78.2% versus 78.1%. To witness the release of housing market data with the housing index reading released by the National Association of Home Builders, which may reflect stability at a value of 64 in June.

This comes in conjunction with the reading of wholesale stocks, which may indicate a slowdown in growth to 0.4% from 0.5% in April, leading to Federal Reserve Governor Jerome Powell delivering a speech entitled "Post-crisis monetary policy aspects" at the French G7 Presidency 2019 in Paris, ahead of the talk of Chicago Reserve Bank President and Federal Committee member Charles Evans in an interview with CNN-BC.

Technical Analysis

EUR/USD found it difficult to breach the 1.1290 level yesterday, to fluctuate around SMA 50, noting that Stochastic is showing positive signs now, waiting for the price to resume the positive attempts to breach this level and confirm the trend towards our awaited targets starting at 1.1350 then 1.1443 .

Therefore, our bullish trend remains valid for today as long as the price remains steady above 1.1245.

The trading range for today is expected between 1.1200 and 1.1360 support.

The general trend for today is bullish.

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The Australian dollar fluctuated in a tight range slipping towards the Asian session to see its rebound from 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 economic developments and data expected Tuesday ...

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The Australian dollar fluctuated in a tight range slipping towards the Asian session to see its rebound from 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 economic developments and data expected Tuesday by the largest economy Including Federal Reserve Governor Jerome Powell and several members of the Federal Open Market Committee.

At 02:27 GMT, the Australian dollar was down 0.07% at 0.7034, compared with the opening levels of 0.7039, after reaching a low of 0.7033, while a two-week high of 0.7044.

Australian Bank of Australia (BOE) released the minutes of the Central Bank of Australia meeting held on April 2, during which the central bank's monetary policy makers approved a short-term benchmark interest rate cut of 25 basis points for the second straight session on To 1.00% from 1.25%, which was expected by market analysts at the time.

"The board will continue to monitor labor market developments closely and adjust monetary policy if necessary to support sustainable growth and inflation target over time," said the Bank of Australia Reserve Monetary Policy Minutes. "The low interest rates will provide more jobs for Australians and help make progress Or about the inflation target. "

On the other hand, investors are looking for Federal Reserve Vice President and Federal Open Market Committee member Michelle Bowman to make an opening remarks at the Federal Fed Hearing event in Atlanta before we see a reading of the import price index which could reflect a 0.7% 0.3% in May, and the same year's index may show a widening of the decline to 2.1% versus 1.5%.

This comes in conjunction with the disclosure by the US economy of reading retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect slower growth to 0.1% versus 0.5% in May, as may appear reading Core for the same index slowed growth to 0.1% versus 0.5% in May.

Also, the world's largest industrial producer may see the Industrial Production Index reading, which may show a slowdown in growth to 0.1% from 0.4% in May, while the Energy Efficiency Index may show growth accelerating to 78.2% from 78.1% in May, Before we see the release of housing market data with the housing index reading released by the National Association of Home Builders, which may reflect stability at a value of 64 in June.

This comes in conjunction with the reading of wholesale stocks, which may show a slowdown in growth to 0.4% from 0.5% in April, with Federal Reserve Governor Jerome Powell delivering a speech entitled "Post-crisis monetary policy aspects" at the French G7 Presidency 2019 in Paris, before Federal Reserve Bank of Chicago President and Federal Committee member Charles Evans spoke at a CNN-ABC television interview.

Technical Analysis

AUD/USD is testing the 0.7044 level now and is still below it, accompanied by stochastic access to overbought areas, while the pair is expected to push the pair downwards to resume the main bearish trend, with its first target at 0.6900.

Therefore, we will keep our bearish outlook intact, provided that the pair maintains its stability below 0.7044, noting that breaching this level will turn the intraday and short term trend upside.

The trading range for today is among the key support at 0.6980 and resistance at 0.7080.

The general trend for today is bearish.

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The US dollar fluctuated in a narrow range inclined to rise during the US session to see its rebound for the second session of its lowest since July 5 against the Japanese yen amid a lack of economic data earlier this week by the Japanese economy and on the eve ...

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The US dollar fluctuated in a narrow range inclined to rise during the US session to see its rebound for the second session of its lowest since July 5 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 Tuesday from Ahead of the US economy, the largest economy in the world, including Fed Chairman Jerome Powell and many members of the Federal Open Market Committee.

At 0610 GMT, the USDJPY rose 0.10% to 108.02 from the opening levels at 107.91, after reaching the highest level at 108.09, while the lowest at 107.82.

Investors are looking forward to Federal Reserve Vice Governor and Federal Open Market Committee member Michelle Bowman's opening remarks at the Federal Fed hearing in Atlanta before we see a reading of the import price index, which could reflect a 0.7% drop from 0.3%. May, as the annual reading of the index itself may show the widening decline to 2.1% versus 1.5%.

This comes in conjunction with the disclosure by the US economy of reading retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect slower growth to 0.1% versus 0.5% in May, as may appear reading Core for the same index slowed growth to 0.1% versus 0.5% in May.

Also, the world's largest industrial producer may see the Industrial Production Index reading, which may show a slowdown in growth to 0.1% from 0.4% in May, while the Energy Efficiency Index may show accelerated growth to 78.2% versus 78.1%. To witness the release of housing market data with the housing index reading released by the National Association of Home Builders, which may reflect stability at a value of 64 in June.

This comes in conjunction with the reading of wholesale stocks, which may indicate a slowdown in growth to 0.4% from 0.5% in April, leading to Federal Reserve Governor Jerome Powell delivering a speech entitled "Post-crisis monetary policy aspects" at the French G7 Presidency 2019 in Paris, ahead of the talk of Chicago Reserve Bank President and Federal Committee member Charles Evans in an interview with CNN-BC.

Technical Analysis

USD/JPY is trading below 108.10, and negative pressure remains for the coming period, supported by SMA 50, awaiting a major 106.78.

Stochastic loses its positive momentum gradually to support the bearish outlook, which requires stability to remain below 108.10.

The trading range for today is expected among the key support at 107.30 and the resistance at 108.60.

The general trend for today is bearish.

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NZDUSD

The pair is trading above the support level of 0.6710 against the backdrop of the growing inflation in New Zealand. The pair is supported by the positive second quarter GDP data in China and the expected reduction of interest rates in the US. The pair is expected to ...

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NZDUSD

The pair is trading above the support level of 0.6710 against the backdrop of the growing inflation in New Zealand. The pair is supported by the positive second quarter GDP data in China and the expected reduction of interest rates in the US. The pair is expected to resume growth after a small correction.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the overbought territory and is reversing downwards. Stoch indicate a pause in decline.

Trading recommendations:

Buy the pair as it’s correcting downwards if it remains above 0.6710 with a possibility to go up to 0.6780 and then further to 0.6800.

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NZDUSD

The pair is trading at the resistance level of 0.6720 due to the expected weakness of the USD caused by the corrected downwards second quarter GDP forecasts and expected retail figures and volumes that are to be published this Tuesday. Moreover, the pair is supported by the predicted ...

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NZDUSD

The pair is trading at the resistance level of 0.6720 due to the expected weakness of the USD caused by the corrected downwards second quarter GDP forecasts and expected retail figures and volumes that are to be published this Tuesday. Moreover, the pair is supported by the predicted growth of consumer inflation in New Zealand, which also would be confirmed by tomorrow’s data.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the overbought territory, Stoch are already there.

Trading recommendations:

Buy the pair after it goes above 0.6720 and takes hold there with a possibility to go further up to 0.6780 or even further to 0.6800.

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USDCAD

The pair dropped below the support level of 1.3040 against the background of the local recovery of crude oil prices, as well as the Bank of Canada meeting that left the key interest rate unchanged and positively characterized the state of national economy.

The price is below the ...

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USDCAD

The pair dropped below the support level of 1.3040 against the background of the local recovery of crude oil prices, as well as the Bank of Canada meeting that left the key interest rate unchanged and positively characterized the state of national economy.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below 50% and is falling. Stoch are entering the oversold territory.

Trading recommendations:

Sell the pair as it’s likely to drop to 1.2950.

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AMAZON climbed above the resistance level of 1963.67 to reach the historic high of 2048.00 set in September last year.

The price is hovering above the moving averages 7-7 and 50 which form price support levels and pressure on it to rise and test the resistance again.

Stochastic ...

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AMAZON climbed above the resistance level of 1963.67 to reach the historic high of 2048.00 set in September last year.

The price is hovering above the moving averages 7-7 and 50 which form price support levels and pressure on it to rise and test the resistance again.

Stochastic is moving within the overbought area and there is a negative cross between its lines so we can see the price attempt to decline and test the support 1963.70.

The expected movement between 1891.80 support and 2050.79 resistance.

General direction of the movement: upward.

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The Australian dollar rose against the US today, supported by continued gains in gold as well as pressure on the US currency as a result of speculation of a rate cut by the Federal Reserve.

In his testimony before the Senate Banking Committee, the head of the central bank stressed ...

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The Australian dollar rose against the US today, supported by continued gains in gold as well as pressure on the US currency as a result of speculation of a rate cut by the Federal Reserve.

In his testimony before the Senate Banking Committee, the head of the central bank stressed the existence of risks surrounding the local economy, most notably trade disputes.

President Donald Trump said China disappointed our hope after it failed to commit to agreed purchases of US agricultural products.

Government data showed Australia's inflation forecast fell by 3.2%, and the rate of household loans stabilized unchanged last month.

Investors are currently waiting for the US economy to release the Producer Price Index (PPI), a preliminary indicator of inflationary pressures, which could reflect a 0.1% growth rate unchanged from last May's reading. The growth rate was unchanged at 0.2%, unchanged from May.

In the same context, the PPI may slow growth to 1.6% from 1.8% in the previous annual reading for May, and the core annualized reading for the same index may show a slowdown in growth to 2.1% from 2.3% in May. Hours after inflation data was released last month, with the consumer price index reading released on Thursday surpassing expectations.

Otherwise, we also followed yesterday the second and last half of Federal Reserve Governor Jerome Powell's semi-annual testimony before the Senate Banking Committee, hours after he gave his first half of his testimony to the House Financial Services Committee last Wednesday, completing his half- Annual policy on monetary policy before the US Congress.

We note that Powell's testimony has reinforced market speculation that Fed monetary policy makers will cut federal funds at the Federal Open Market Committee meeting scheduled for July 30-31, Minutes of the Fed's latest meeting, which in turn supported cuts in interest rates by 25 basis points by the end of the month.

Technical Analysis

The AUDUSD is slightly bullish to approach the resistance of the descending channel, where the price is positively affected by Stochastic, but since the price is below 0.7044, our bearish outlook remains valid for the coming period as breaching this level will push the price higher Of the short term bullish correction, while the next main target for the expected bearish wave is at 0.6900.

The trading range for today is expected among the support at 0.6930 and the resistance at 0.7044.

The general trend for today is bearish.

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The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session as it rebounded to its fourth session since June 19 and was preparing for its first weekly gain of three weeks against the US dollar on the eve of economic developments and ...

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The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session as it rebounded to its fourth session since June 19 and was preparing for its first weekly gain of three weeks against the US dollar on the eve of economic developments and data expected on Friday by The economies of the euro area and the US economy are the largest economy in the world.

At 05:09 am GMT, the EURUSD rose 0.16% to 1.1272, compared to the opening at 1.1254 after the pair hit a session high of 1.1274 and the lowest at 1.1249.

The markets are currently looking for Germany, the largest economy in the euro area, to see the wholesale price index reading, which may reflect a slowdown in growth to 0.2% from 0.3% in May before we see the Eurozone economies as a whole showing the seasonally adjusted Industrial Production Index Which could reflect a 0.2% rise versus a 0.5% drop in April.

This comes in conjunction with the meetings of finance ministers of the Euro-zone ECOFIN in Brussels attended by finance ministers of the member countries of the euro area, which discuss many financial issues such as mechanisms to support the euro and government funding, and we would like to point out that these meetings are closed and the media are not allowed to transfer, They returned with interviews with the media throughout the day.

On the other hand, investors are currently waiting for the US economy to disclose the reading of the PPI, which is a preliminary index of inflationary pressures, which may reflect the stability of growth at 0.1%, unchanged from what it was in the previous reading for the month of May, and may appear The core reading of the index itself was 0.2% growth, unchanged from May.

In the same context, the PPI may slow growth to 1.6% from 1.8% in the previous annual reading for May, and the core annualized reading for the same index may show a slowdown in growth to 2.1% from 2.3% in May. Hours after inflation data was released last month, with the consumer price index reading released on Thursday surpassing expectations.

Technical Analysis

The EURUSD ended yesterday's trading without the support of the ascending channel, but it starts today with a new upward trend in an attempt to return to this channel, where it gets a positive stimulus from Stochastic, which supports the chances of continuing to rise during the coming sessions, noting that the breach of 1.1275 The price will push for gains starting at 1.1350 and extending to 1.1443.

Therefore, we will continue to tilt the upside for the next period unless the 1.1245 level is broken and stability below it.

The trading range for today is expected between 1.1200 and 1.1360 support.

The general trend for today is bullish.

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