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December 2018

The British pound rose during the US session to recover to the sixth session in seven sessions from its lowest since April 11, 2017 against the US dollar following developments and economic data followed Thursday by the British economy and the US economy which included decisions and trends Monetary policy ...

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The British pound rose during the US session to recover to the sixth session in seven sessions from its lowest since April 11, 2017 against the US dollar following developments and economic data followed Thursday by the British economy and the US economy which included decisions and trends Monetary policy makers at the Bank of England and the disclosure of monetary policy statement.

UK Retail Sales rose 1.4% from 0.4% in October, beating expectations for a 0.3% rise. The core reading of the same index, excluding car fuel, rose 1.2% against the decline. 0.4% in October, also outperforming expectations of a 0.2% rise.

In the same context, the annual retail sales index showed accelerated growth to 3.6% from 2.4% in the previous year's reading, except for expectations of 2.0%. The core annual reading showed that growth accelerated to 3.8% versus 2.8% The previous annual reading for the month of October, also beyond expectations at 2.3%.

In addition, we also followed the RBA's approval by the Bank of England monetary policy makers to keep interest rates at 0.75% for the third consecutive meeting and for the asset purchase program at £ 435 billion for the 19th consecutive meeting, with the unanimous vote of nine Fix short-term benchmark interest rates and stay on the asset purchase program with little change.

In another context, the leader of the British House of Representatives Andrea Ledesum said that the start of the discussion of the agreement to leave Britain from the European Union in parliament on January 9 next after the end of the official holiday scheduled to begin tomorrow to the seventh with next month, adding that Prime Minister Teresa Mae will try to secure the necessary guarantees before the exit agreement is presented to the parliament and vote on it on the 21st of next month.

On the other hand, we followed the US economy's index of claims for the last week with December 15, which showed a rise of 12 thousand applications to 214 thousand applications, below the expectations at 216 thousand applications, as shown in the index of continuing requests for support for the past week On the eighth of this month, up by 27 thousand applications to 1,688 thousand applications, higher than the expectations at 1,663 thousand applications.

This came in conjunction with the release of the Philadelphia Manufacturing Index, which showed a contraction of 9.4 to 12.9 in November, above expectations of a 15.1% gain, leading to a 0.2% reading versus 0.3% decline. Last October, outperforming expectations for stability at zero levels.

This comes hours after the FOMC meeting of 18-19 December and the press conference held by Federal Reserve Governor Jerome Powell in Washington following the Committee's decision to raise interest rates by 25 basis points for the fourth time this year to 2.25% And 2.50% and move forward in reducing the repurchase of government bonds and mortgage bonds by $ 50 billion per month.

Technical Analysis

GBP / USD remains stuck between the confirmation levels of 1.2636 and 1.2725 support, as the price needs to break through one of these levels to further define its next direction, making us remain neutral so far.

A break of the aforementioned support will reactivate the bearish scenario with its first target at 1.2500, while breaching the resistance will lead the price to gains starting at 1.2800 and extending to 1.2962.

The trading range for today is expected among 1.2550 support and 1.2750 resistance

Support and resistance:

Support: 1.2586-1.2636-1.2495

Resistance: 1.2713-1.2800-1.2875

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

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Gold futures traded in a tight range slipping towards the Asian session to see their rebound to its second highest session since June 25 as the US dollar index rebounded, rebounding to its second low since November 20 according to the inverse relationship between them On the eve of developments ...

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Gold futures traded in a tight range slipping towards the Asian session to see their rebound to its second highest session since June 25 as the US dollar index rebounded, rebounding to its second low since November 20 according to the inverse relationship between them On the eve of developments and economic data expected Friday by the US economy, the largest economy in the world.

Gold futures for February delivery fell 0.02% to currently trade at $ 1.263.50 per ounce from the opening at $ 1.263.50 per ounce, with the US dollar index rising 0.09% to 96.48 compared to the opening at 96.39. .

The markets are currently looking for the US economy to reveal several important economic data that may reflect the stability of the largest economy in the world at 3.5% in the third quarter, according to the final reading of GDP, unchanged from the previous preliminary reading and compared to growth of 4.2% in the second quarter last , And the same reading of the price index may reflect a stable growth of 1.7% versus 3.0% in the second quarter.

This comes in conjunction with the release of the Durable Goods Orders, which account for about half of consumer spending, which accounts for more than two-thirds of US gross domestic product, which could reflect a 1.6% rise from a 4.3% fall in October, The core of the index itself accelerated to 0.3% from 0.2% in October.

Investors are also looking to release spending and personal income data, which may reflect slowing personal spending growth to 0.3% from 0.6% in October and slowing personal income growth to 0.3% from 0.5% in October, Personal consumption dampening accelerated growth to 0.2% from 0.1% in October.

In conjunction with the final reading of the University of Michigan Consumer Confidence Index, which could reflect a 97.6 increase from November's preliminary reading and the previous reading of 97.5 in November, hours after the Federal Open Market Committee decided to raise interest rates by 25 basis points For the fourth time this year to between 2.25% and 2.50% and move forward in reducing bond buybacks.

Technical Analysis

The price of gold has succeeded in reaching the awaited target at 1262.50 and is attempting to confirm its breach, thus supporting the short term upside extension. Our next target is at 1286.70, supported by the SMA 50, with a continuation of the bullishness based on stability above 1238.30.

A failure to close above the resistance of 1262.5 will push the price towards a correction towards 1238.4 support

The trading range for today is among the support at 1235.00 and resistance at 1275.00

Support and resistance:

Support: 1251.3-1238.4-1227.3

Resistance: 1262.3-1275.00-1286.9

The general trend for today is bearish

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USDJPY

The pair is in downtrend following the Fed’s meeting results that demonstrated the regulator’s concern over the future of America’s economic growth, since the bank made clear its intention to continue hiking interest rates, while their quantity will depend on the economic situation. It creates uncertainty ...

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USDJPY

The pair is in downtrend following the Fed’s meeting results that demonstrated the regulator’s concern over the future of America’s economic growth, since the bank made clear its intention to continue hiking interest rates, while their quantity will depend on the economic situation. It creates uncertainty and pressure for the pair, making investors avoid risks.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI has entered the oversold territory. Stoch have reversed downwards.

Trading recommendations:

If the price falls below 111.80, it will be likely to go further down to 111.25 and 110.75.

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The Aussie continues to decline as the US dollar for a second day after the mild rise started this weekend

Where it opened the day at 0.7106, recording the lowest price of 0.7089 and the highest price of 0.7124

Australian labor market data showed that the unemployment ...

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The Aussie continues to decline as the US dollar for a second day after the mild rise started this weekend

Where it opened the day at 0.7106, recording the lowest price of 0.7089 and the highest price of 0.7124

Australian labor market data showed that the unemployment rate rose to 5.1% from October's reading of the month of October and expectations of 5.0%, the lowest since mid-2011, with the Employment Change Index rising to 37.0 thousand versus 28.7 thousand, exceeding expectations of about 20.0 thousand.

US current account reading showed that the deficit widened to $ 125 billion in line with expectations versus $ 101 billion in the second quarter, ahead of the release of housing market data with the release of the Existing Home Sales Index, which may reflect a 0.4% drop to Rose to 5.20 million from 1.4% at 5.22 million last October.

The Fed's monetary policy makers at the Federal Open Market Committee's meeting on December 18-19 in Washington raised interest rates by 25 basis points for the fourth time this year to between 2.25% and 2% .50%, which was expected by analysts in the markets.

Technical Analysis

The AUDUSD traded with strong negativity yesterday to complete the formation of a head and shoulders pattern illustrated in the image, to get an additional negative stimulus that supports expectations for a continuation of the bearish trend as the price approaches our first target at 0.7080, awaiting further downside visit to the previously recorded low at 0.7020 As a next station.

Therefore, the bearish trend will remain dominant during the coming sessions, noting that a break of 0.7140 could push the price to test the 0.7277 areas before any new attempt to decline.

Moving averages above the price are trading in negative pressure on the price towards the support areas 0.7020. While the Stochastic has reached the saturation area of ​​the buy in negative signal for continued low price

The trading range for today is expected among the support at 0.7020 and resistance at 0.7140

The general trend for today is bearish

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Cisco was able to confirm the completion of the double-top reversal pattern as the price broke the neckline and managed to breach the support level 44.26 which is at 61.8 Fibonacci retracement and completed the bearish path to stop at 78.6 at 42.94 as this level ...

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Cisco was able to confirm the completion of the double-top reversal pattern as the price broke the neckline and managed to breach the support level 44.26 which is at 61.8 Fibonacci retracement and completed the bearish path to stop at 78.6 at 42.94 as this level supported the price.

In general, the price has retreated more than 61.8 Fibonacci, so it is possible to say that the previous bullish movement is over, and we are in a downward spiral.

The moving averages are pushing the price and pushing it further downward as these averages move at almost the same level and this increases the negative pressure on the price towards the downside and further decline.

Stochastic has reached the oversold area and is due to the sideways movement in this area. Therefore, this movement will negatively affect the price and increase the downside.

 

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The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session to see its fifth session retreat since November 28 against the US dollar ahead of the October reading of the Euro-Zone Current Account Index as a whole And developments and economic data ...

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The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session to see its fifth session retreat since November 28 against the US dollar ahead of the October reading of the Euro-Zone Current Account Index as a whole And developments and economic data expected Thursday by the US economy, the largest economy in the world.

At 05:52 am GMT, the EURUSD rose 0.11% to 1.1388, compared to the opening at 1.1376, after reaching a high of 1.1389, while reaching a low of 1.1372.

Investors looking for the US economy are reading the Philadelphia Industrial Index, which may reflect a widening to 15.6 from 12.9 last month, with the weekly reading of the index showing a rise in the index of aid applications before we see the release of leading indicators which may show stability at zero levels against the high 0.1% last October.

This comes hours after the FOMC meeting of 18-19 December and the press conference held by Federal Reserve Governor Jerome Powell in Washington following the Committee's decision to raise interest rates by 25 basis points for the fourth time this year to 2.25% And 2.50% and move forward in reducing the repurchase of government bonds and mortgage bonds by $ 50 billion per month.

Technical Analysis

The EUR / USD pair held steady below 1.1443 after yesterday's positive attempts. Stochastic is gradually losing its positive momentum while SMA 50 is negatively impacting the price.

Therefore, these factors encourage us to continue with the bearishness targeting the 1.1300 and then the 1.1181 levels, noting that a breach of 1.1443 will push the pair higher and start at 1.1550 and extend to 1.1705.

The trading range for today is expected among the 1.1280 support and the 1.1443 resistance

Support and resistance:

Support: 1.1341-1.1300-1.1210

Resistance: 1.1386-1.1443-1.1500

The general trend for today is bearish

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The royal currency fluctuated in a narrowly bullish range during the US session to see its fifth session rebound in six sessions from its lowest since April 11, 2017 against the US dollar following developments and economic data that followed Wednesday on the RBA and its economy The largest economy ...

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The royal currency fluctuated in a narrowly bullish range during the US session to see its fifth session rebound in six sessions from its lowest since April 11, 2017 against the US dollar following developments and economic data that followed Wednesday on the RBA and its economy The largest economy in the world and in conjunction with the meeting of the Federal Committee in Washington.

We have followed the UK economy to reveal inflation data which showed inflationary growth accelerated to 0.2% in line with expectations versus 0.1% in October according to the consumer price index, while the annual reading of the same index showed growth stability at 2.2%, superior On expectations at 2.1%, and the core annual reading of the index showed slowing growth to 1.8% in line with expectations, compared to 1.9%.

This came in conjunction with the Producer Price Index (PPI) showing a contraction of 2.3% versus 0.8% growth in October, beating expectations for a contraction of 2.8%, while the annual reading showed slower growth to 5.6% versus 10.3% 4.9%, and the annual reading of the house price index slowed growth to 2.7% from 3.5% in September's annual reading, below expectations of 3.3%.

British Prime Minister Teresa Mae told the British Parliament that her government is still working with the European Union to obtain the guarantees needed by Parliament. She explained that the British government will clarify at the beginning of next year what it has achieved in its recent talks with the EU regarding the exit of the Kingdom United States of the European Union in an orderly manner, adding that there will be a vote on the agreement to be reached within parliament.

Investors looking for the US economy are reading the Philadelphia Industrial Index, which may reflect a widening to 15.6 from 12.9 last month, with the weekly reading of the index showing a rise in the index of aid applications before we see the release of leading indicators which may show stability at zero levels against the high 0.1% last October.

This comes hours after the FOMC meeting of 18-19 December and the press conference held by Federal Reserve Governor Jerome Powell in Washington following the Committee's decision to raise interest rates by 25 basis points for the fourth time this year to 2.25% And 2.50% and move forward in reducing the repurchase of government bonds and mortgage bonds by $ 50 billion per month.

Technical Analysis

The GBP / USD pair stopped yesterday's trading below 1.2636, stopping the positive scenario suggested in our recent reports and putting the price under negative pressure over the coming period to reactivate the bearish scenario in the short term.

Stochastic is now offering a negative cross signal, which is triggering further bearishness today, as the bearish bias is likely unless 1.2636 is breached and stability above it again, noting that our first negative target is at 1.2500.

The trading range for today is expected among 1.2500 support and 1.2700 resistance

Support and resistance:

Support: 1.2586-1.2500

Resistance: 1.2636-1.2713-1.2875

The general trend for today is bearish

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Gold futures traded in a tight range in the Asian session as the dollar index fell for a third session in five sessions from its highest since June 17, 2017, according to the inverse relationship between them on the eve of developments and economic data expected on Thursday by The ...

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Gold futures traded in a tight range in the Asian session as the dollar index fell for a third session in five sessions from its highest since June 17, 2017, according to the inverse relationship between them on the eve of developments and economic data expected on Thursday by The US economy is the largest economy in the world.

Gold futures for February delivery rose 0.10% to currently trade at $ 1,248.20 per ounce, compared to the opening at $ 1,247.00 an ounce, with the US dollar index falling 0.04% to 96.95 from the opening at 96.99. .

Investors looking for the US economy are reading the Philadelphia Industrial Index, which may reflect a widening to 15.6 from 12.9 last month, with the weekly reading of the index showing a rise in the index of aid applications before we see the release of leading indicators which may show stability at zero levels against the high 0.1% last October.

This comes hours after the FOMC meeting of 18-19 December and the press conference held by Federal Reserve Governor Jerome Powell in Washington following the Committee's decision to raise interest rates by 25 basis points for the fourth time this year to 2.25% And 2.50% and move forward in reducing the repurchase of government bonds and mortgage bonds by $ 50 billion per month.

The downside risks to the economy have increased recently as global growth slowed and financial markets fluctuated, but these changes did not have a strong impact on the FOMC's expectations. The outlook for the economy continued to grow at a strong pace and inflation stabilized near target 2%, he said. Does not depend on predefined tracks and changes according to economic developments. This came after the Federal Commission lowered its average forecast for growth, inflation, the future of interest rates and raised the average forecast for unemployment rates for the next three years.

Technical Analysis

Gold was forced to rebound after testing the 1260.00 barrier, just a few points ahead of our main target at 1262.50, to test the 50 SMA which is good support for the price, Accompanied by a stochastic signal giving a bearish intersection signal.

Therefore, we believe that opportunities are available for a bullish rebound and resumption of the upside over the intraday basis within the corrective correction channel, with a reminder that breaching the target will extend gold gains to 1286.70, while a break of 1238.30 will halt the expected rally and press the pair to reverse.

The trading range for today is among the support at 1235.00 and resistance at 1265.00

Support and resistance:

Support: 1238.4-1227.3-1221.8

Resistance: 1251.2-1257.0-1262.8

The general trend for today is bullish

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EURUSD

The pair is in uptrend as the Fed is expected to announce its decision concerning the pause in the interest rates hike in early 2019. The pair may receive support if rates aren’t raised today. At the same time, if the current monetary policy remains unchanged, the dollar ...

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EURUSD

The pair is in uptrend as the Fed is expected to announce its decision concerning the pause in the interest rates hike in early 2019. The pair may receive support if rates aren’t raised today. At the same time, if the current monetary policy remains unchanged, the dollar will receive support and the pair may be put under significant pressure.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and is slowly growing. Stoch have reversed upwards.

Trading recommendations:

The pair may drop to the lower border of the current range, 1.1265 following the favorable USD news. In the opposite scenario, it will rise to 1.1460.

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Aeroflot fluctuates around the 101.19 support level tested over the past week and the price is unable to break this support

We note that the moving averages 7-50 go hand in hand at this level, which shows the strength of this support

Stochastic is out of the overbought zone ...

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Aeroflot fluctuates around the 101.19 support level tested over the past week and the price is unable to break this support

We note that the moving averages 7-50 go hand in hand at this level, which shows the strength of this support

Stochastic is out of the overbought zone, so the previous level is likely to hold back and the price is headed higher

The trading range between support 95.22 and resistance 108.15

Support and resistance:

Support: 101.19-96.22

Resistance: 108.15-1115.40

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