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February 2019

Gold moved within a narrow range that is likely to retreat within the Asian session to follow the rebound from the February 19th high for the sixth session in a row, with the US dollar index rising for a second day from its February 5 low. Following economic data from ...

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Gold moved within a narrow range that is likely to retreat within the Asian session to follow the rebound from the February 19th high for the sixth session in a row, with the US dollar index rising for a second day from its February 5 low. Following economic data from China as economic data awaited the US economy on Thursday.

Today morning in the Asian session futures gold prices fell 0.11% to trade at 1,320.20 $ per ounce are described respectively rebound from its highest in ten months, compared with the opening at 1,321.70 $ per ounce, amid the US dollar index rose 0.01% to 96.10 levels, explaining the succession of recovery from the minimum In three weeks compared to the opening at 96.09.

China, the world's second-largest economy and the second-largest industrialized nation, released the Industrial and Service Purchasing Managers' Indexes by the China Logistics and Purchasing Federation (CFLP), which showed contraction in the industrial sector to 49.2 from January and 49.5, And the service sector shrank to 54.3 versus 54.7, worse than expected at 54.5.

On the other hand, markets are currently looking for the US economy, revealing the preliminary reading of GDP, which may reflect the shrinking of the largest economy in the world to 2.6% in the fourth quarter compared to 3.4% in the third quarter, and may show the preliminary reading of GDP measured prices for quarterly quarter last slowing growth to 1.7% versus 1.8% in the third quarter.

This comes in conjunction with the reading of the index of claims for the week of February 23, which may reflect a rise of 5 thousand applications to 221 thousand applications compared to 216 thousand applications in the previous weekly reading, before we see the disclosure of the Chicago Purchasing Managers Index May reflect a widening to 58.1 versus 56.7 in January.

Technical analysis:


Gold continues its bearish movement. yesterday he could break the support at 1322.94-1319.06.  approaching the minimum of the up channel that has been moving in since 14 November.

The moving averages push the price lower as it moves above the price in a bearish order, thus increasing the negative pressure on the price to test the minimum of the up channel.

Stochastic has reached the oversold area and is moving sideways at the level of 20, therefore, it is a sign of weakness in the bearish movement of the price and loss of momentum to continue to fall, so any bullish cross between the indicator lines will make us see a rise in gold prices

The expected movement for the day between support 1314.04 and resistance 1322.94

Support and resistance:

Support: 1314.04-1306.04-1301.75

Resistance: 1319.06-1322.94-1329.25

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The US dollar fell against the Japanese yen at the beginning of today's session, as economic data weighed on the Japanese economy and economic data awaited the US economy on Thursday. Hours after the Fed's semi-annual testimony to the monetary policy before Congress ended.

The pair dropped 0 ...

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The US dollar fell against the Japanese yen at the beginning of today's session, as economic data weighed on the Japanese economy and economic data awaited the US economy on Thursday. Hours after the Fed's semi-annual testimony to the monetary policy before Congress ended.

The pair dropped 0.15% to 110.83, compared to the opening levels at 111.00, the pair's highest level during the session, while the pair reached a low of 110.80.

The Japanese economy released the preliminary reading of industrial production, which showed a wide decline to 3.7% against 0.1% last December, worse than expectations of a 2.5% decline, while the same index showed stability at zero levels versus 1.9 %, Also worse than the 1.3% forecast.

This was in line with the seasonally adjusted preliminary release of retail sales, which showed a decline of 2.3% from 0.9% in December, worse than expectations of a 0.8% decline. The same annualized reading showed that growth slowed to 0.6% from 1.3% Other than expectations that accelerated growth to 1.4%.

To the release of housing market data, with the annual reading of the Construction Starts Index showing growth slowing to 1.1% compared to 2.1% in the previous year's reading. This is in contrast to expectations of a growth rate of 10.3% Construction rose 19.8% versus a 3.8% decline in December.

On the other hand, the markets are currently looking for the US economy, revealing the preliminary reading of GDP, which may reflect the contraction of the largest economy in the world to 2.6% in the fourth quarter compared to 3.4% in the third quarter, and may show the preliminary reading of GDP measured in prices Over the previous quarter, slowing growth to 1.7% versus 1.8% in the third quarter.

This comes in conjunction with the reading of the index of claims for the week of February 23, which may reflect a rise of 5 thousand applications to 221 thousand applications compared to 216 thousand applications in the previous weekly reading, before we see the disclosure of the Chicago Purchasing Managers Index May reflect a widening to 58.1 versus 56.7 in January.

Technical analysis:


The US dollar rose yesterday as the Japanese yen yesterday to the level of resistance 110.96 to bounce down with the opening session today, under the negative impact of the Stochastic index, which reached the saturation of the purchase and went out of them down.

The moving averages have stopped falling as they constitute price support levels as they move below it in the ascending order

The general trend is to the upside as long as the trading remains above 110.24 and the resistance is breached at 110.96

The trading range between the support at 110.14 and the resistance at 111.37

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GBPUSD

The pair is in a short-term uptrend due to weak USD and hopes that another Brexit referendum will result in the UK remaining in the EU. However, the pair has grown technically and may correct downwards.

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

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GBPUSD

The pair is in a short-term uptrend due to weak USD and hopes that another Brexit referendum will result in the UK remaining in the EU. However, the pair has grown technically and may correct downwards.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is in the overbought territory and indicates possible downwards reversal. Stoch are also moving down.

Trading recommendations:

If the pair goes below 1.3290, it may drop further to 1.3210, which would correspond to a 23% Fibonacci rebound.

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The Japanese yen traded against the US dollar Wednesday with a very slight drop as there was little movement on the session during the morning session and we are watching today the completion of Federal Reserve Chairman Jerome Powell's testimony to the US Congress

During the Asian session, the ...

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The Japanese yen traded against the US dollar Wednesday with a very slight drop as there was little movement on the session during the morning session and we are watching today the completion of Federal Reserve Chairman Jerome Powell's testimony to the US Congress

During the Asian session, the US dollar opened against the Japanese Yen at 110.54, recording the highest of 110.60 and 110.49.

US markets are eyeing the release of the Merchandise Trade Balance, which could reflect a widening deficit to $ 75.3 billion from $ 71.6 billion in November, in conjunction with a reading of the Wholesale Inventories Index, which could show growth accelerating to 0.4 percent. From 0.3% in November.

Before we see the release of housing market data, which may reflect a rise in existing home sales of 0.8% versus a 2.2% drop in December, in conjunction with a factory demand reading which could rise 1.5% from 0.6% in November, Coinciding with the merits of Federal Reserve Governor Jerome Powell's policy on monetary policy before the House Financial Services Committee.

Powell appeared before the Senate Banking Committee on Tuesday as part of his semi-annual testimony on monetary policy to Congress and confirmed what he said at a press conference following the Federal Open Market Committee meeting at the end of last month that the Federal Commission will be patient and monitor economic data in The downside risks to the economy have continued to worsen as global growth and financial market volatility weaken.

As Powell said that the continuation of that approach or not will depend on economic data during the coming period, amid the fact that the economic data confirm that the US economy is in a good position and unemployment rates stabilize at the lowest in half a century, saying that the US economy is close to levels Full employment, adding that he did not see the risks of economic recession high, and that inflation is still below the target of the Federal Commission at two percent.

Technical analysis:


The USD fell against the JPY and managed to breach the support line at 110.59 and close below it

Moving averages are pushing the price lower and pushing it lower especially SMA 50 which is resistance to the price above the previous support line 110.59

The Stochastic is able to exit the oversold area in a sign that a positive pressure on the price prevents it from falling back above the mentioned support level.

The range of support between 110.14 and resistance is 110.96

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Gold prices rebounded as the dollar index fell for the third day in a row. Following Jerome Powell's speech to the US Congress on Tuesday.

Today, we are looking at the second section of Powell's testimony before the Monetary Policy Committee.

Gold opened today with a slight downward ...

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Gold prices rebounded as the dollar index fell for the third day in a row. Following Jerome Powell's speech to the US Congress on Tuesday.

Today, we are looking at the second section of Powell's testimony before the Monetary Policy Committee.

Gold opened today with a slight downward movement as it opened at $ 1328.33 per ounce, reaching a high of $ 1329.45 per ounce and a low of 1327.43.

From the US economy, we are looking for the release of the housing market data with the release of the Pending Home Sales Index which may give an improvement at 0.8% against the previous value of -0.2%. In conjunction with the second section of Powell's testimony.

In his testimony to the Congressional Senate yesterday, Powell stressed that the US economy is healthy, but the trade dispute between Washington and Beijing, weak inflation and volatility in financial markets may lead to slower growth this year.

"Powell added that these factors are what prompted the Central Bank to adopt a policy of patience and patience in raising interest rates in the coming period

According to the World Gold Council, global central bank purchases of gold rose during the year 2018 to their highest level since 1967. Purchases rose to 651.5 metric tons, up 74% from 2017 at 375 metric tons, Of the countries to buy the yellow metal topped by Russia by 274 metric tons, which overtook China, the largest consumer of metals globally and inspire both Poland and Kazakhstan.

Technical  analysis:


Gold rose at the end of yesterday's session after reaching 1322.94 support as it rebounded and reached resistance at 1329.78

Trades are above the moving averages 7-20 and near the moving average 50 which is resistance to the price near the level of 1329.25, which is at 38.2% Fibonacci retracement.

The Stochastic is moving in a bullish upward direction and constitutes a positive pressure on the price and may push it to retest the resistance 1329.79 and attempt to breach it.

The movement expected for today between 1322.94 support and resistance 1335.71

Support and resistance:

Support: 1322.94-1317.24-1314.04

Resistance: 1329.79-1335.71-1338.17

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The single European currency rose against the US dollar after US Federal Reserve Chairman Jerome Powell spoke to the US Congress on Tuesday with anticipation of a further update on Wednesday. And economic data from the German economy and the European economy today.

The euro fell against the US dollar ...

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The single European currency rose against the US dollar after US Federal Reserve Chairman Jerome Powell spoke to the US Congress on Tuesday with anticipation of a further update on Wednesday. And economic data from the German economy and the European economy today.

The euro fell against the US dollar by 0.07% to the value of 1.1380, the opening of today's session at 1.1387, the highest level of 1.1394 at the time of writing this report.

Today, the European economy is seeing the results of the annual money supply, which is likely to come down by 4.0% from the previous reading 4.1%. We also expect the Business and Consumer Survey, which is expected to be 106.0 lower than the previous reading of 106.02. Then the Business Climate Index for February, which is also expected to come below the previous value of 0.69.

Yesterday, we saw the testimony of US Federal Reserve Chairman Jerome Powell before the US Senate, which stressed that the US economy is healthy, but the trade dispute between Washington and Beijing, weak inflation and volatility in financial markets may lead to slower growth this year.

"Powell added that these factors are what prompted the Central Bank to adopt a policy of patience and patience in raising interest rates in the coming period.

Technical analysis:



The euro rose against the US dollar and breached the resistance level 1.1361 to reach the target at 1.1392 near the lower line of the ascending channel.

The Euro failed to break through the channel line to bounce back towards the 1.1361 level

The moving averages support the bullish trend as we have a bullish order below the price of 7-20-50, giving the price the positive momentum for the upside and the attempt to enter the ascending channel.

Stochastic reached the area of saturation of the purchase and reversed it down and reflected this movement on the price that rebounded from the channel line mentioned earlier.

The trading range for today is among the key support at 1.1361 and resistance at 1.1401

Support and resistance:

Support: 1.1361-1.1330-1.1310

Resistance: 1.1392-1.1443-1.1500

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The Australian dollar fluctuated against the US dollar during today's trading session after yesterday's rally, following a speech by Jerome Powell to the US Congress on Tuesday. With the second and final half of Federal Reserve Governor Jerome Powell's testimony before Congress.

The Australian dollar opened today ...

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The Australian dollar fluctuated against the US dollar during today's trading session after yesterday's rally, following a speech by Jerome Powell to the US Congress on Tuesday. With the second and final half of Federal Reserve Governor Jerome Powell's testimony before Congress.

The Australian dollar opened today's trading session with the US dollar at 0.7182 recording the highest price at 0.7197 and the lowest of 0.7174

The US economy is looking to release the trade balance, which could reflect a widening deficit to $ 75.3 billion from $ 71.6 billion in November, 0.4% versus 0.3% in November.

Before we see the release of housing market data, which may reflect a rise in existing home sales of 0.8% versus a 2.2% drop in December, in conjunction with a factory demand reading which could rise 1.5% from 0.6% in November, Coinciding with the merits of Federal Reserve Governor Jerome Powell's policy on monetary policy before the House Financial Services Committee.

Technical analysis:


The AUDUSD rebounded back after the 0.7152 support level and the price reached the target at the resistance zone of 0.7197 to move near this area.

The moving averages support this move as these averages move below the price in a bullish order giving the price stability to rise again and retest the aforementioned resistance level

Stochastic has reached the oversold area and rebounded and reflected this movement on the price, which came in conjunction with him to the resistance area and retreated from them as well.

The expected movement for the day between 0.7152 support and resistance is 0.7197

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Aeroflot continues to move within the bearish path under the influence of the double top that is pushing the price lower.

The price is moving below the moving averages you are pushing and pushing it towards the support level of 99.45.

Stochastic in a sideways path near the oversold ...

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Aeroflot continues to move within the bearish path under the influence of the double top that is pushing the price lower.

The price is moving below the moving averages you are pushing and pushing it towards the support level of 99.45.

Stochastic in a sideways path near the oversold area may signal the end of the bearish movement and start correcting upwards.

The trading range between the support 90.27 and the resistance 102.45.

The general trend of the movement is neutral.

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EURUSD

The pair is trading within a short-term uptrend due to the weakness of USD. The pair has the potential of local growth, if the negative sentiment towards the USD remains.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is above the ...

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EURUSD

The pair is trading within a short-term uptrend due to the weakness of USD. The pair has the potential of local growth, if the negative sentiment towards the USD remains.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is above the level of 50% and is moving down. Stoch are also moving down.

Trading recommendations:

If the pair remains above 1.1370, it may continue growing to 1.1440. However, if the opposite happens and it falls below this level, there’s a possibility of a limited drop to 1.1320.

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USDCAD

The pair is trading within a short-term downtrend. If crude oil price continue correcting downwards, the pair will be expected to experience a local growth.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. Moving Averages are signaling to buy. RSI is above the ...

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USDCAD

The pair is trading within a short-term downtrend. If crude oil price continue correcting downwards, the pair will be expected to experience a local growth.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. Moving Averages are signaling to buy. RSI is above the level of 50% and is moving horizontally. Stoch have entered the overbought territory.

Trading recommendations:

Buy the pair after it passes the mark of 1.13205 and takes hold above it with a local target of 1.3250.

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