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Forex market analysis

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January 2019

Google shares fell slightly in yesterday's session to rein in the strong rally that took place on 04-01-2019

Where the price approached the 1090 barrier

The stock opened yesterday's trading above Friday's close with a price gap to close and close at Friday's closing level. This ...

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Google shares fell slightly in yesterday's session to rein in the strong rally that took place on 04-01-2019

Where the price approached the 1090 barrier

The stock opened yesterday's trading above Friday's close with a price gap to close and close at Friday's closing level. This week's sessions are likely to be a correction for Friday's session

The moving average is closer to SMA 50 and therefore we can see the intersection of these two lines, thus enhancing the chances of continuation of the upside move and waiting for the possibility of crossing the SMA 20 with the SMA 50

The stochastic oscillates in a sideways path closer to the upside therefore finding a watch to see the next move 

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Gold futures fell during the Asian session on Tuesday after rising last weekend to its highest since June 15, with the decline of the dollar index since the beginning of this year according to the inverse relationship between them on the eve of developments and economic data expected on Monday ...

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Gold futures fell during the Asian session on Tuesday after rising last weekend to its highest since June 15, with the decline of the dollar index since the beginning of this year according to the inverse relationship between them on the eve of developments and economic data expected on Monday from Ahead of the US economy, the world's largest economy.

At 03:30 GMT Gold futures for February delivery fell to $ 1,282.00 per ounce from $ 1.288.60 an ounce, as the US dollar index rose 0.25% to 95.26 from the opening at 95.50.

US markets are looking for a reading of the US trade balance, which is likely to improve the trade deficit and come up by $ 54.00 billion versus -5.50 from previous readers.

We are also looking for job opportunities, which are likely to rise 7.170 million versus 7.079 million from the previous reading. Otherwise, investors are eyeing the outcome of the trade talks between Washington and Beijing, which are being completed in China today.

Last weekend, Federal Reserve Governor Jerome Powell said at a panel discussion in Atlanta that the Federal Open Market Committee would be patient to monitor economic performance and was ready to adjust monetary policy quickly. And flexible depending on economic developments.

Powell also expressed his understanding of the concerns of the markets about the trade tensions and the slowdown in the Chinese economy, explaining that the Federal Committee puts these concerns in mind when making decisions on monetary policy, adding that the Federal Committee will not hesitate to change the plan to reduce the budget of the Federal Reserve of mortgage bonds And the government if necessary, while addressing the fact that economic data still confirm the high momentum of the economy.

He said that labor market data were strong and did not fuel inflationary concerns and that everyone should know that the Fed is committed to avoiding political affairs and that culture is continuing and will not be affected by criticism from the US administration, Looking forward to the upcoming trade talks between the world's biggest economists.

Gold holdings at SBDR Gold Trust, the world's largest gold-backed fund, rose by 2.94 metric tons to 798.25 metric tons last Friday. Gold prices last December made their third consecutive monthly gain after finishing their longest monthly loss march since late 1996.

Technical Analysis

The price of gold is open today with a negative negativity to break the 1286.70 level and trade below it. We note that the price recorded a low high during the last rally, indicating a possible intraday shift. We have a double top pattern with a confirmation level at 1276.70, The price will push further downside and visit 1262.50 directly.

The price is again approaching SMA 50, which had formed a price support level in the NLA last week and prevented it from falling further. The Stochastic is moving towards the oversold area

Therefore, the bearish trend will be likely in the coming sessions unless the levels of 1286.70 then 1295.00 are breached and stability above it.

The trading range for today is among the support at 1265.00 and resistance at 1295.00

Support and resistance:

Support: 1280.74-1275.00-1266.47

Resistance: 1286.83-1294.10-1301.40

The general trend for today is bearish

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December 2018

The US dollar fell during the American session to see its rebound for the ninth session in one of the ten sessions of the highest since December 3 against the Japanese yen following developments and economic data that followed on the Japanese economy and on the eve of developments and ...

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The US dollar fell during the American session to see its rebound for the ninth session in one of the ten sessions of the highest since December 3 against the Japanese yen following developments and economic data that followed on the Japanese economy and on the eve of developments and economic data expected Friday by the US economy largest World economy.

At 05:54 GMT, the US dollar was down 0.33% at 110.64 compared with the opening levels at 111.01 after the pair reached a low of 110.52 and the highest at 111.03.

We followed the Japanese economy by revealing the Bank of Japan's summary report in conjunction with the seasonally adjusted preliminary release of retail sales, which showed a 1.0% drop from a 1.3% rise last October, worse than the 0.4% The annualized reading of the same index showed that growth slowed to 1.4% from 3.6% in October, also worse than expectations of slowing growth to 2.1%.

This came in line with the release of the Tokyo Consumer Price Index (CPI), which showed growth slowed to 0.3% from 0.8% in November, below expectations of 0.5%. The core annual reading of the index itself, excluding fresh food, To 0.9% in line with expectations versus 1.0%, and the core annual reading excluding fresh food and energy showed stability at 0.6%.

We also followed the third-largest economy in the world, reading Unemployment Rate, which rose to 2.5% from October and expectations of 2.4%. The preliminary reading of industrial production fell 1.1% from 2.9% in October, In contrast to expectations of a 1.5% decline. The same year's annual reading showed that growth slowed to 1.4% from 4.2%, well above expectations of 0.6%.

On the other hand, investors are currently waiting for the US economy to release the Chicago Purchasing Managers Index, which may reflect a contraction of the widening to 61.4 against 66.4 in November before we see the housing market data released with the release of new home sales Which could reflect a 0.9% rise versus a 2.6% fall in October.

Technical Analysis

The USD / JPY pair rebounded yesterday to near 110.38 now and is under continuous negative pressure coming from the 50 MA to support the break of the mentioned level and open the way towards our awaited targets at 109.75 and 109.35.

Therefore, the bearish trend will remain effective during the coming period provided stability below 111.97.

The trading range for today is among the key support at 109.75 and resistance at 111.00

The general trend for today is bearish

 

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Gold futures traded in a tight range sloping upward during the Asian session to stabilize near the top in six months amid the decline of the dollar index to its lowest since December 21 according to the inverse relationship between them on the eve of developments and economic data expected ...

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Gold futures traded in a tight range sloping upward during the Asian session to stabilize near the top in six months amid the decline of the dollar index to its lowest since December 21 according to the inverse relationship between them on the eve of developments and economic data expected Friday By the US economy, the world's largest economy.

Gold futures for February delivery rose 0.18% to currently trade at $ 1,280.30 per ounce compared to the opening at $ 1,278.00 an ounce, amid the decline of the US dollar index 0.15% to 96.37 levels, Week compared to the opening at 96.51.

Investors are currently eyeing the US economy for the Chicago PMI reading, which may reflect a contraction of 61.4 versus 66.4 in November before we see housing market data released with the release of new home sales which may Reflecting a 0.9% rise versus a 2.6% fall in October.

On the other hand, we would like to point out that US President Donald Trump noted on Tuesday that the government closure, which falls within the seventh consecutive year, will continue until an agreement is reached to ensure the construction of a wall on the border with Mexico, adding that financing the wall at $ 5 billion is negotiable, Said he was confident of Treasury Secretary Sevin Menuchin's decisions and said the Federal Reserve was raising interest rates at a rapid pace.

Technical Analysis

The price of gold ended yesterday's trading above the resistance of the ascending channel, confirming the continuation of the upside over the intraday basis, which aims to test the level of 61.8% Fibonacci correction at 1286.70 as the next station.

Therefore, the bullish trend will be likely in the coming sessions unless the level of 1270.00 is breached and stability below it, noting that breaching the target level will extend gold gains to reach 1316.65 in the near term.

Gold derives the strength from rising from the moving averages which constitute a price stability factor for further upside.

The Stochastic is approaching the overbought zone to add more momentum to the Gold towards the 1286.9 resistance.

The trading range for today is among the key support at 1265.00 and resistance at 1300.00.

Support and resistance:

Support: 1262.8-1257.00-1251.3

Resistance: 1275.00-1286.9-1300.00

The general trend for today is bullish.

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The British currency fluctuated in a tight range, slipping towards the US session, as the session returned to a third session since December 10 against the US dollar amid a lack of economic data by the British Royal Economy. Following the economic developments and data that followed Thursday The largest ...

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The British currency fluctuated in a tight range, slipping towards the US session, as the session returned to a third session since December 10 against the US dollar amid a lack of economic data by the British Royal Economy. Following the economic developments and data that followed Thursday The largest economy in the world.

On the 22nd of December, the US Unemployment Claims fell by 1K to 216K compared to the previous week's reading and expectations of 217K. This month fell 4K to 1,701K, higher than expected at 1,675K.

This came in conjunction with the disclosure of housing market data and the release of house prices, which showed growth accelerated to 0.3% in line with expectations versus 0.2% in October, and before we see the consumer confidence reading for the month which reflected the contraction of the breadth to the value of 128.1 compared to 136.4 last November, worse than expectations of a contraction of the widening to 133.7.

US President Donald Trump said on Tuesday that the government's closure would continue until a deal was secured to build a wall along the border with Mexico. He said the $ 5 billion financing of the wall was negotiable and he expressed confidence in Treasury Secretary Sevin Menuchin's remarks. The Federal Reserve raises interest rates at a rapid pace, as the government closes its sixth day in a row.

Technical Analysis

GBPUSD remains limited between 1.2636 and 1.2725 support, keeping our neutrality in place until one of these levels is breached to determine the next direction more accurately.

We will note that breaking the support will press the price to resume the main bearish trend with the next target at 1.2500, while breaching the resistance will stimulate the price to achieve positive targets extending to 1.2962.

The trading range for today is expected among 1.2580 support and 1.2725 resistance.

The expected general trend for today: depends on the levels mentioned in the report.

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The single currency of the European Union region rose during the Asian session, its highest since Dec. 21 against the US dollar on the eve of economic developments and data expected on Friday by the largest economies of the euro zone Germany and the US economy, the largest economy in ...

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The single currency of the European Union region rose during the Asian session, its highest since Dec. 21 against the US dollar on the eve of economic developments and data expected on Friday by the largest economies of the euro zone Germany and the US economy, the largest economy in the world.

At 5:20 am GMT, the EURUSD rose 0.21% to 1.1454, compared to the opening at 1.1430, after reaching a week high of 1.1467, while the lowest level at 1.1428.

Investors are currently looking for the German economy to release inflation data with the release of the CPI's preliminary reading for the month which could reflect a rapid growth to 0.3% from 0.1% in November, while the annualized index of the same index may show a slowdown to 1.9 Compared to 2.3% in the previous annual reading for the month of November.

On the other hand, markets are looking ahead to the Chicago PMI reading, which may reflect a contraction of the 61.4 versus 66.4 in November before we see housing market data released with the release of new home sales Which could reflect a 0.9% rise versus a 2.6% fall in October.

Technical Analysis

The EURUSD ended yesterday's trading below 1.1443, but it starts higher today to breach this level and move above it, which requires attention from the next trading as the price stability above this level will stop the negative scenario suggested in our recent reports and push the price for gains starting at 1.1550 and extends to 1.1705.

Now, we would prefer to remain neutral for the day to close the 1.1443 level, noting that trading below it will reactivate the bearish scenario targeting 1.1300 initially.

The trading range for today is expected among 1.1350 support and 1.1550 resistance

Support Resistance:

Support: 1.1341-1.1300-1.1200

Resistance: 1.1443-1.1500-1.1550

The expected general trend for today: neutral

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The stock has rallied in recent trading on intraday basis, following the support level at 1352.88. The stock is attempting to compensate for some of its previous losses, achieving a 9.45% gain of 126.94 points as the short term corrective wave is in line with a trend ...

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The stock has rallied in recent trading on intraday basis, following the support level at 1352.88. The stock is attempting to compensate for some of its previous losses, achieving a 9.45% gain of 126.94 points as the short term corrective wave is in line with a trend line. Continue the negative pressure of the SMA for the previous 50-day period.

Therefore, we expect the decline of the stock during the next trading, to target the level of support 1420.00, throughout the stability of the resistance 1575.97.

Expected Trading Trend: Likely to Decline

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EURUSD

The pair remains within the range of 1.1270–1.1490 due to lower market activity during winter holidays. The pair is likely to remain within this range until the end of the year.

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

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EURUSD

The pair remains within the range of 1.1270–1.1490 due to lower market activity during winter holidays. The pair is likely to remain within this range until the end of the year.

The price is above the Bollinger band, above SMA 5 and SMA 14. RSI is above the overbought territory and indicates weaker growth. Stoch have entered the overbought zone.

Trading recommendations:

There’s still potential for a local growth to 1.1490. Sell the pair at its growth from this point, or after it passes 1.1435 with a possible target of 1.1390.

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Gold futures rose during the US session yesterday to witness the highest of June 19, excluding the US dollar index for the third session in five sessions of the lowest since 20 November last according to the inverse relationship between them following the developments and economic data that followed On ...

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Gold futures rose during the US session yesterday to witness the highest of June 19, excluding the US dollar index for the third session in five sessions of the lowest since 20 November last according to the inverse relationship between them following the developments and economic data that followed On Wednesday the largest economy in the world.

Before closing at a low of 1266.7 near the support level of 1262.8

We followed the US economy to reveal housing market data with the S & P Composite House 20 Index, which showed a slowdown in growth to 5.0% from 5.2% in the previous September reading, beating expectations of 4.8%.

This came ahead of the December reading of the Richmond Manufacturing Index, which showed a contraction to 8 versus growth from 14 in November, in contrast to expectations of a 16-year expansion.

Otherwise, the US president said on Tuesday that the government closure would continue until an agreement was reached, including the construction of a wall, fence or barrier along the border with Mexico, adding that the funding of the wall at $ 5 billion is negotiable but complicated, In seeing a border wall, while expressing confidence in Treasury Secretary Sevin Menuchin's decisions that the Federal Reserve is raising interest rates at a rapid pace.

Investors are currently waiting for the US economy to read the Jobless Claims reading for the week ending December 22, which could reflect a 6K increase to 220K in the previous week's reading. This month, down by 5 thousand applications to 1,673 thousand in the previous weekly reading.

In conjunction with the release of housing market data, which may reflect the acceleration of house price growth to 0.3% versus 0.2% in October before we see new home sales, which may rise 4.0% to 566 thousand homes compared to a decline of 8.9% To 544,000 in October, leading to a reading of the consumer confidence index, which may indicate a contraction of the widening to 133.0 versus 135.7 last month.

Technical Analysis

Gold continues its bullish course with steady trading above the support level at 1262.8. We need to close the day above 1270.0 to confirm the bullish movement

Strong gold is gaining from the moving averages that are moving in a bullish path with the moving average 20 surpassing the support level 1238.4 and moving average 7 near the price below.

The Stochastic is moving towards the overbought area in a positive signal for price action, but one must be aware of any possible cross-section which will lead to price correction.

The trading range for today is among the support at 1260.00 and resistance at 1285.00

Support and resistance:

Support: 1262.8-1257.00-1245.2

Resistance: 1270.00-1286.9

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There is not change the movement of GBP/USD as the Sterling fluctuates in a tight range slippery during the US session against the US dollar amid a lack of economic data by the United Kingdom and following developments and economic data that followed Wednesday on the US economy, the ...

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There is not change the movement of GBP/USD as the Sterling fluctuates in a tight range slippery during the US session against the US dollar amid a lack of economic data by the United Kingdom and following developments and economic data that followed Wednesday on the US economy, the largest economy in the world.

On the other hand, we followed the US S & P composite house price index's annual reading of 20, which showed a slowdown in growth to 5.0% from 5.2% in September, beating expectations of 4.8%. Rachmond Industrial shrank to a value of 8 versus growth at a value of 14 last November, contrary to expectations that indicated a growth to 16.

US President Donald Trump said on Tuesday that the government's closure would continue until a deal was secured to build a wall along the border with Mexico. The $ 5 billion financing of the wall was negotiable, and he expressed confidence in Treasury Secretary Sevan Menutchen's remarks. As the Federal Reserve raises interest rates at a rapid pace and comes amid the entry of the closure of the government for the fifth day in a row.

Investors are currently waiting for the US economy to read the Jobless Claims reading for the week ending December 22, which could reflect a 6K increase to 220K in the previous week's reading. This month, down by 5 thousand applications to 1,673 thousand in the previous weekly reading.

In conjunction with the release of housing market data, which may reflect the acceleration of house price growth to 0.3% versus 0.2% in October before we see new home sales, which may rise 4.0% to 566 thousand homes compared to a decline of 8.9% To 544,000 in October, leading to a reading of the consumer confidence index, which may indicate a contraction of the widening to 133.0 versus 135.7 last month.

Technical Analysis

GBPUSD continues to fluctuate between the pivotal levels of support 1.2636 and resistance at 1.2725 without being able to breach one yet. As noted in our recent reports, the price needs to confirm that one of these levels is breached to further define its next targets.

Therefore, our neutral position will remain so far, and to see the details of the expected targets of the breakthrough, please see our previous report.

The trading range for today is expected among 1.2580 support and 1.2725 resistance

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

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