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The US dollar fluctuated in a narrow range slanting to an upside during the Asian session, to witness its retracement for the third consecutive session from the lowest since March 12 against the Japanese yen following the developments and economic data that they followed on the Japanese economy and on ...

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The US dollar fluctuated in a narrow range slanting to an upside during the Asian session, to witness its retracement for the third consecutive session from the lowest since March 12 against the Japanese yen following the developments and economic data that they followed on the Japanese economy and on the cusp of economic developments and data expected today, Wednesday, by the economy. The US Congress, which includes the testimony of Federal Reserve Governor Jerome Powell before the US Congress.

At 07:15 AM GMT, the US dollar against the Japanese yen rose by 0.18% to 105.12 levels compared to the opening levels at 104.93, after the pair achieved its highest level during the session's trading at 105.20, while it reached its lowest level at 104.88.

We have followed up on the disclosure of the preliminary reading of the manufacturing PMI by Markit on Japan, which showed the contraction of the deflation to a value of 47.3 compared to 47.2 in August, below expectations of 48.0, and this came before we witness the Japanese economy, the third-largest industrial country. Globally, the index of all industrial activities was released, which showed growth slowing to 1.3%, in line with expectations, compared to 6.8% in June.

On the other hand, investors are awaiting the American economy to reveal the housing market data with the release of the house price index reading, which may indicate a slowdown in growth to 0.4% compared to 0.9% last June, in conjunction with the speech of a member of the Federal Open Market Committee and the president of the Bank Cleveland Federal Reserve Loretta Meester at the Chicago Satellite Payments Symposium.

This comes before we witness the unveiling of the preliminary reading of the Markit Industrial and Service Purchasing Managers Index on America, which may reflect the shrinking of the industrial sector in the largest industrial country in the world to a value of 52.5 compared to 53.1 in the previous reading for August, and the expansion of the service sector to It was worth 54.5, compared to 55.0 in August.

Up to the testimony of Federal Reserve Governor Jerome Powell before the House Select Committee in Washington, and in conclusion, Vice Governor of the Federal Reserve and a member of the Federal Open Market Committee Randall Quarles is expected to speak about the economic outlook at the Institute of International Bankers via satellite. Yesterday it was reported that the ball is in the court of Congress to provide support to companies affected by the Corona pandemic.

Technical analysis

  

The dollar against the yen continued to rise to test the pivotal resistance 105.20, which constitutes a strong barrier against the price, accompanied by the stochastic indicator losing positive momentum and the appearance of clear overbought areas, while the MA 50 forms negative pressure against the price.

Thus, we believe that opportunities are available to bounce to the downside and resume the expected bearish trend in the intraday and short term terms, whose next main target is at 103.65, while achieving it requires stability below 105.20.

The expected trading range for today is between 104.30 support and 105.50 resistance.

The expected general trend for today: Bearish.

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 Sberbank's stock was unable to breach the resistance 233.10, trying to return to the bullish channel from which it had exited during the past two weeks, and which appears in the chart accordingly.

 The price is trying to end the descending path and return to the bullish path ...

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 Sberbank's stock was unable to breach the resistance 233.10, trying to return to the bullish channel from which it had exited during the past two weeks, and which appears in the chart accordingly.

 The price is trying to end the descending path and return to the bullish path again. Especially after moving above the moving averages, especially the 50 average.

The current price action takes place between the support level 220.10 and the resistance level 223.10 over the intermediate period which will be the main targets of the price action.

 The moving averages -50-20-7 are below the price near 221.80 and add pressure on the price to continue rising further and breach the resistance. 

General direction of movement: An upward path.

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EURNZD

The overall trend is downward. The currency pair is trading in the range of 365 and 135 moving averages. The ascending H2 level pattern is truncated, it ended with the breakout of the inclined channel (aC), which resulted in the formation of a start fractal below the 135 moving ...

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EURNZD

The overall trend is downward. The currency pair is trading in the range of 365 and 135 moving averages. The ascending H2 level pattern is truncated, it ended with the breakout of the inclined channel (aC), which resulted in the formation of a start fractal below the 135 moving average.
A breakout of the start fractal will result in the formation of a descending wave pattern within the overall downtrend. Awesome Oscillator indicates a bearish divergence, while Stochastic Oscillator signals overbought condition.

EURNZD rate online: monitor the price movement in real time.

Trading recommendations:


Sell on the breakout of the 1.7584 start fractal.

Stop Loss: 1.7707.

Target levels: 1.7470; 1.7332.

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#ABC

The overall trend is upward. The price pivot zone of 92.56 restrains sellers. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an exit from the oversold zone and the moving averages of the indicator are directed upwards. A breakout of the resistance level of 97.87 ...

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#ABC

The overall trend is upward. The price pivot zone of 92.56 restrains sellers. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an exit from the oversold zone and the moving averages of the indicator are directed upwards. A breakout of the resistance level of 97.87 will result in the formation of a 1-2-3 ascending pattern within the overall uptrend.

#ABC rate online: monitor the price movement in real time.

Trading recommendations:

Buy above 97.87.

Stop Loss: 92.56.

Target: 104.15;

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NZDUSD 

The pair is trading at the neckline of the "double top" reversal pattern, remaining under pressure following the RBNZ monetary policy decision, while the US dollar gains as a safe haven currency.

Technical side:

The price is located below the middle Bollinger band, below SMA 5 and SMA 14 ...

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NZDUSD 

The pair is trading at the neckline of the "double top" reversal pattern, remaining under pressure following the RBNZ monetary policy decision, while the US dollar gains as a safe haven currency.

Technical side:

The price is located below the middle Bollinger band, below SMA 5 and SMA 14. RSI has entered the oversold zone. Stoch are also in it.

NZDUSD rate online: monitor the price movement in real time.

Trading recommendations:

Sell the pair after it crosses the level of 0.6600 with a probable drop to 0.6515.

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Tuesday, September 22nd, today’s news—major aircraft maker Airbus may cut up to 15,000 jobs worldwide. European markets are recovering after the pandemic-related negativity, Germany's recovery is to shrink 5.2% this year, the dollar is stronger as a safe haven currency. The price of Brent oil ...

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Tuesday, September 22nd, today’s news—major aircraft maker Airbus may cut up to 15,000 jobs worldwide. European markets are recovering after the pandemic-related negativity, Germany's recovery is to shrink 5.2% this year, the dollar is stronger as a safe haven currency. The price of Brent oil is $41.98, WTI—$40.03. EUR/USD is at 1.1738 GBP/USD—1.2793, gold is $1,908.00 per ounce.

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The Australian dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its lowest since August 26 against the US dollar, following the speech of the Assistant Governor of the Reserve Bank of Australia, in charge of the Risk Management Committee, Jay Debel and ...

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The Australian dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its lowest since August 26 against the US dollar, following the speech of the Assistant Governor of the Reserve Bank of Australia, in charge of the Risk Management Committee, Jay Debel and on the cusp of economic developments and data expected today, Tuesday, by the American economy. The largest economy in the world, which includes the testimony of Federal Reserve Governor Jerome Powell to Congress.

 

At 04:28 GMT, the Australian dollar against the US dollar fell 0.01% to 0.7223 levels, compared to opening levels at 0.7224, after the pair achieved its lowest level in four weeks at 0.7192, while its highest during the session’s trading at 0.7235.

 

We have followed up on Jay Dibel, Assistant Governor of the Reserve Bank of Australia, in charge of the Risk Management Committee, giving a speech under the title "Australian Economy and Monetary Policy" via satellite at the Australian Industry Group Conference, in which he expressed that the decline in the Australian dollar will benefit the economy and that the Australian Central Bank Closely watched "mixed" experimental evidence of negative rates.

 

The Assistant Governor of the Reserve Bank of Australia, in charge of the Risk Management Committee, Debel also stated that the policy options for reducing the target return and the rate of facilitating financing for the term are an option for the Australian central bank and that the Australian central bank is evaluating other policy options, explaining that increasing the facilitation of term financing is a great easing of monetary policy, adding Intervention in the foreign exchange market is ineffective in the current circumstances.

 

On the other hand, investors are awaiting the US economy, the largest industrial country in the world, for the release of the Richmond Industrial Index, which may reflect a contraction of the expansion to a value of 12 compared to 18 last August, in conjunction with the disclosure of housing market data with the release of the annual reading of the index. House prices, which may show a slowdown in growth to 2.4% to about 6.05 million homes, compared to 24.7% at 5.86 million homes last July.

 

This comes before we witness the first half of the semi-annual testimony of Federal Reserve Governor Jerome Powell before the US Congress, specifically before the House Financial Services Committee in Washington on the "CARES" Act, and Powell is expected to testify before the House Select Committee tomorrow. Wednesday, about the economic effects of the Corona pandemic, before he gave the second half of his testimony, tomorrow, Thursday, to the Senate Banking Committee.

 

We would like to point out that Treasury Secretary Stephen Mnuchin will also deliver his testimony on Thursday, with Powell, about the CARES Act before Congress. The repercussions of the Corona pandemic, with his assertion that there is a need for more fiscal and monetary policy to prevent the health crisis from causing long-term damage to the economy.

Technical analysis

  

The Australian dollar against the US dollar achieved a strong breakout of 0.7250 and settled below it, which turned the intraday path to the downside, on its way to visit 0.7100 and then 0.6964 levels, as major negative targets.

 

Thus, the bearish bias will be favored for today, supported by the SMA 50, noting that the expected decline will remain valid unless 0.7325 is breached and stability above it.

 

The expected trading range for today is between 0.7140 support and 0.7280 resistance.

 

The expected general trend for today: Bearish.

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The single currency, the euro, fluctuated in a narrow range that tends to decline during the Asian session against the US dollar due to the developments and economic data expected today, Tuesday, by the economies of the euro area and the US economy, the largest in the world, which includes ...

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The single currency, the euro, fluctuated in a narrow range that tends to decline during the Asian session against the US dollar due to the developments and economic data expected today, Tuesday, by the economies of the euro area and the US economy, the largest in the world, which includes the first half of the semi-annual testimony of Federal Reserve Governor Jerome Powell before Congress American.

 

At 06:35 AM GMT, the euro pair fell against the US dollar by 0.09% to 1.1760 levels, compared to the opening levels at 1.1771, after the pair achieved its lowest level during the session's trading at 1.1753, while it achieved its highest at 1.1774.

 

The markets are looking to the economies of the euro area as a whole to reveal a reading of consumer confidence, which may reflect the stability of the contraction at a value of 15 during September, otherwise, we followed yesterday the European Central Bank Governor Christine Lagarde expressed that the current uncertainty requires careful evaluation. For the data received, including the exchange rate for the euro, and that the European Central Council believes that the economy still needs support.

 

On the other hand, investors are awaiting the US economy, the largest industrial country in the world, for the release of the Richmond Industrial Index, which may reflect a contraction of the expansion to a value of 12 compared to 18 last August, in conjunction with the disclosure of housing market data with the release of the annual reading of the index. House prices, which may show a slowdown in growth to 2.4% to about 6.05 million homes, compared to 24.7% at 5.86 million homes last July.

 

This comes before we witness the first half of the semi-annual testimony of Federal Reserve Governor Jerome Powell before the US Congress, specifically before the House Financial Services Committee in Washington on the "CARES" Act, and Powell is expected to testify before the House Select Committee tomorrow. Wednesday, about the economic effects of the Corona pandemic, before he gave the second half of his testimony, tomorrow, Thursday, to the Senate Banking Committee.

 

We would like to point out that Treasury Secretary Stephen Mnuchin will also deliver his testimony on Thursday, with Powell, about the CARES Act before Congress. The repercussions of the Corona pandemic, with his assertion that there is a need for more fiscal and monetary policy to prevent the health crisis from causing long-term damage to the economy.

 

It is reported that the Federal Open Market Committee meeting held last week on September 15-16, during which interest rates were kept between zero and 0.25%, the program to purchase Treasury bonds by $ 80 billion per month and mortgage bonds by $ 40. At least monthly, with the disclosure at the time of the expectations of members of the Federal Commission for growth rates, inflation and unemployment, in addition to the future of interest rates for the next three years.

Technical analysis

  

The EUR / USD pair succeeded in reaching a difference of a few points from our awaited target at 1.1720, and some slight bullish tendency appears affected by the positivity of the stochastic indicator, noting that the price is moving within the descending corrective descending channel that appears in the image, which supports the chances of surpassing the aforementioned level and paving the way for the trend towards Next corrective level up to 1.1540.

 

From here, we expect the bearish tendency to continue during the upcoming sessions, supported by the negative pressure formed by the MA 50, bearing in mind that the expected decline will remain intact unless the price pushes to breach 1.1860 then 1.1910 and hold above it.

 

The expected trading range for today is between 1.1670 support and 1.1840 resistance.

 

The expected general trend for today: Bearish.

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Gazprom settled below the support level of 186.00, as it continues to move within the 

descending channel that appears on the chart.

The price is now moving below the 20-50 averages that form resistance levels and pressurize it to decline.

While we have major resistance at 202.70 and ...

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Gazprom settled below the support level of 186.00, as it continues to move within the 

descending channel that appears on the chart.

The price is now moving below the 20-50 averages that form resistance levels and pressurize it to decline.

While we have major resistance at 202.70 and major support at 158.75.

We see that the stochastic indicator exited from the overbought area and returns to the oversold zone and the movement within a bearish path will therefore press the price for further decline.

The price action will be between the support level 158.75 and the resistance level 202.20.

The general direction of the movement is bearish.

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Futures contracts for gold prices fluctuated in a narrow range that tends to rise during the Asian session, to witness its rebound for the second session from the lowest since August 12, amid the dollar index rebounding for the second session from its highest since the same day according to ...

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Futures contracts for gold prices fluctuated in a narrow range that tends to rise during the Asian session, to witness its rebound for the second session from the lowest since August 12, amid the dollar index rebounding for the second session from its highest since the same day according to the inverse relationship between them on the cusp of developments and expected economic data today Tuesday by the US economy, the largest economy in the world, which includes the first half of Fed Governor Jerome Powell's semi-annual testimony before Congress and amid growing concern over a second wave of Coronavirus.

 

At exactly 06:06 AM GMT, gold futures contracts for December delivery rose 0.13% to trade at $ 1,920.50 an ounce, compared to the opening at $ 1,918.10 an ounce, knowing that the contracts started the session on a rising price gap after it closed Yesterday's trading at $ 1,910.60 an ounce, with the US dollar index declining 0.03% to 93.53 compared to the opening at 93.56.

 

Investors from the US economy, the largest industrial country in the world, are awaiting the release of the Richmond Industrial Index reading, which may reflect a contraction of the expansion to a value of 12 compared to 18 last August, in conjunction with the disclosure of housing market data with the release of the annual home price index reading, which It may show a slowdown in growth to 2.4% to about 6.05 million homes, compared to 24.7% at 5.86 million homes last July.

 

This comes before we witness the first half of the semi-annual testimony of Federal Reserve Governor Jerome Powell before the US Congress, specifically before the House Financial Services Committee in Washington on the "CARES" Act, and Powell is expected to testify before the House Select Committee tomorrow. Wednesday, about the economic effects of the Corona pandemic, before he gave the second half of his testimony, tomorrow, Thursday, to the Senate Banking Committee.

 

We would like to point out that Treasury Secretary Stephen Mnuchin will also deliver his testimony on Thursday, with Powell, about the CARES Act before Congress. The repercussions of the Corona pandemic, with his assertion that there is a need for more fiscal and monetary policy to prevent the health crisis from causing long-term damage to the economy.

Technical analysis

  

The price of gold faced strong negative pressure, as we mentioned in our technical updates yesterday, and it made attempts to break the 1901.80 level, to show signs of a negative technical combination indicating that the price is on its way to achieve further decline during the coming period, noting that the confirmation of a breach of 1901.80 will push the price to 1860.90 As the next negative terminal.

 

Thus, the bearish trend will be expected in the intraday and short term, taking into consideration that breaching 1934.86 will stop the expected decline and lead the price to recover and restore the main bullish trend again.

 

The expected trading range for today is between 1880.00 support and 1935.00 resistance.

 

The expected general trend for today: Bearish.

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