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Forex market analysis

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January 2019

AUDUSD

The pair is trading below 0.7150 amid expectations of US-China trade talks on January 30th–31st. It’s also under pressure due to concern over the continuing global economy slowdown.

The price is on the lower Bollinger band, below SMA 5 and SMA 14. RSI is below the ...

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AUDUSD

The pair is trading below 0.7150 amid expectations of US-China trade talks on January 30th–31st. It’s also under pressure due to concern over the continuing global economy slowdown.

The price is on the lower Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving down. Stoch are also below the level of 50% and are falling.

Trading recommendations:

Sell the pair with a possible target of 0.7070.

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The dollar fell during the Asian session to see its rebound to the third session of the highest since the end of December last against the Japanese yen following developments and economic data that followed on the Japanese economy and on the eve of developments and data expected Tuesday by ...

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The dollar fell during the Asian session to see its rebound to the third session of the highest since the end of December last against the Japanese yen following developments and economic data that followed on the Japanese economy and on the eve of developments and data expected Tuesday by the US economy, the largest economy in the world and in the shadow of continuing Partial closure of the federal government in the United States.

At 06:00 GMT, the pair dropped 0.24% to 109.41 compared to the opening levels at 109.67 after recording a low of 109.39 and a high of 109.70.

We followed the Japanese economy to release inflation data with the core CPI reading, which showed a slowing of growth to 0.4% from last October's reading and expectations of 0.5%, and comes hours before the BOJ meeting on Wednesday In which the central bank's monetary policy makers may offer more flexibility in monetary policy.

On the other hand, investors are looking for the US economy to release data on the housing market with the release of the existing home sales index, which may reflect a decline of 1.5% to 5.24 million one against 1.9% rise at 5.32 million in November last, The partial closure of the federal government in its fifth consecutive week to reflect the longest partial closure of the federal government in American history.

Technical Analysis

The USD / JPY pair is starting a slight bearish trend on its way to test pivotal support at 109.16. As noted in our recent reports, stability above this level keeps the bullish scenario intact for the coming period, targeting the 110.24 test as a next stop.

Keep in mind that a break of 109.16 will press the price to drop again and initially visit the 108.09 level.

The trading range for today is expected among the key support at 108.80 and the resistance at 110.24

The general trend for today is bullish

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Google is on the upside for the third consecutive week as it approaches the top at 1125.39

The moving averages support the upside move as the moving average 7 moves below and near the price to give it support for the upside move while the SMA 20 intersects the ...

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Google is on the upside for the third consecutive week as it approaches the top at 1125.39

The moving averages support the upside move as the moving average 7 moves below and near the price to give it support for the upside move while the SMA 20 intersects the SMA 50 and forms a support level near the Fibonacci 23.6%

Stochastic in the area of saturation of the purchase in the reflection of the upward movement and if the movement continues within this area is likely to see more price rises

Range of movement between support 1057.71 and resistance: 1125.39

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The Sterling fluctuated in a tight range slipping towards the Asian session to see its rebound from its highest session since the end of December against the US Dollar amid the economic outlook on Monday by the British economy and the US economy as well.

At 05:54 GMT, the ...

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The Sterling fluctuated in a tight range slipping towards the Asian session to see its rebound from its highest session since the end of December against the US Dollar amid the economic outlook on Monday by the British economy and the US economy as well.

At 05:54 GMT, the pair dropped 0.12% to 1.2876, compared with the opening levels at 1.2888 after the pair reached a low of 1.2869, while the highest at 1.2898.

We look forward to the release of the November's ROW, which is expected to maintain previous reading levels at 3.3%. We are also anticipating the rate of change in unemployment, which may see 1,900 jobs to come at a value of 20,000 at the previous value of 21,900. Which is expected to maintain the previous value at 4.1%

On the other hand, investors are looking for the US economy to release data on the housing market with the release of the existing home sales index, which may reflect a decline of 1.5% to 5.24 million one against 1.9% rise at 5.32 million in November last, The partial closure of the federal government in its fifth consecutive week to reflect the longest partial closure of the federal government in American history.

Technical Analysis

The pair has been fluctuating in a narrow range since yesterday and remains steady below 1.2962, noting that Stochastic is showing negative signs now, awaiting the price to resume the bearish trend targeting 1.2755 and 1.2636 as the next major stations, Stability below 1.2962.

The trading range for today is expected between 1.2760 and 1.2940 support

Support and resistance:

Support: 1.2752-1.2662-1.2586

Resistance: 1.2876-1.2970-1.3105

The general trend for today is bearish

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The single currency of the European Union region fluctuated in a narrowly bearish range to reflect its rebound for the sixth session in eight sessions from its highest since October 17 against the US dollar on the brink of developments and economic data expected Tuesday by the Eurozone economies and ...

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The single currency of the European Union region fluctuated in a narrowly bearish range to reflect its rebound for the sixth session in eight sessions from its highest since October 17 against the US dollar on the brink of developments and economic data expected Tuesday by the Eurozone economies and the US economy. World economy.

At 05:05 GMT, the EURUSD dropped 0.07% to 1.1357, compared with the opening at 1.1365 after the pair reached a low of 1.156 and a high of 1.1373.

The markets are now looking for a ZEW economic sentiment survey for January on the German economy, the largest economy in the euro area and the economies of the euro zone as a whole, which may reflect the widening decline in Germany to 18.8 versus 17.5 last December, while The same reading for the economies of the region as a whole may show a decline to 20.1 versus 21.0 in December.

On the other hand, investors are looking for the US economy to release data on the housing market with the release of the existing home sales index, which may reflect a decline of 1.5% to 5.24 million one against 1.9% rise at 5.32 million in November last, The partial closure of the federal government in its fifth consecutive week to reflect the longest partial closure of the federal government in American history.

Technical Analysis

The EUR / USD pair did not show any strong movement yesterday to continue to fluctuate with the support of the ascending channel which is currently at 1.1350. Therefore, there is no change in the bearishness scenario which depends on stability below 1.1443, supported by negative pressure formed by SMA 50, That our next target extends to 1.1181.

Stochastic entry into the oversold territory will increase negative pressure on the price and thus push it further down

The trading range for today is expected among 1.1270 support and 1.1400 resistance

Support and resistance:

Support: 1.1341-1.1300-1.1211

Resistance: 1.1386-1.1443-1.1512

The general trend for today is bearish

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The Australian dollar fluctuated in a narrow range slipping towards the Asian session to see its rebound for the fourth session in six sessions of its highest since December 13 against the US dollar following developments and economic data that followed Monday on the Australian economy amid the absence of ...

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The Australian dollar fluctuated in a narrow range slipping towards the Asian session to see its rebound for the fourth session in six sessions of its highest since December 13 against the US dollar following developments and economic data that followed Monday on the Australian economy amid the absence of the US market. This weekend for the Martin Luther King Day celebration.

At 02:41 GMT, the AUDUSD dropped 0.03% to 0.7166 compared to the opening levels at 0.7168, after hitting a session low of 0.7150 and a high of 0.7188.

On the Australian economy, data on the housing sector were released as the Housing Sales Association released a new housing sales index, which showed a drop of 6.7% from a 3.6% rise in November, reflecting its worst performance since June 2017. .

This came before China's National Bureau of Statistics released growth data for Australia's largest trading partner, which showed the slowest growth rate for the world's second-largest economy in 2018 since 1990, with China's economy growing 6.6 percent from the year 2017 in line with expectations.

Technical Analysis

AUDUSD is back at 0.7145 pivotal support, accompanied by stochastic access to overbought areas, awaiting price action to resume the bullish trend targeting 0.7335 as the next major station.

A breach of 0.7230 will provide a strong positive bias supporting expectations for a rise, while a break of 0.7145 will halt the suggested bullish trend and pressure the price to turn bearish.

The trading range for today is expected among the support at 0.7120 and resistance at 0.7260

Support and resistance:

Support: 0.7142-0.7044-0.6900

Resistance: 0.7243-0.7367

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 rebound to its second-lowest session since January 4 against the US dollar on the brink of economic developments and data expected Monday by the biggest euro zone economies. The ...

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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 rebound to its second-lowest session since January 4 against the US dollar on the brink of economic developments and data expected Monday by the biggest euro zone economies. The US market was absent earlier this week due to the Martin Luther King Day celebration.

At 05:05 GMT, the EURUSD rose 0.11% to 1.1375 compared to the opening at 1.1363 after the pair reached a high of 1.1409, while reaching a low of 1.1360.

Markets are looking for the German economy to see the producer price index, which is a preliminary index of inflationary pressures, which may reflect a contraction of 0.1% from 0.1% in November, while the annualized reading of the same index may show growth slowing to 2.9% versus 3.3% The previous annual reading for the month of November, comes before we see the disclosure of the monthly report of the Bundesbank.

Technical Analysis

The EUR / USD pair has seen weak trading now and is stabilizing at the support of the ascending secondary channel which is now rising to 1.1345, noting that breaking this level will complete the formation of a bearish continuation pattern that will push the price towards the 1.1181 level directly.

Overall, we will continue to push the downside if the 1.1443 level is not breached and stability is over, noting that the markets may see weak trading today with the impact of the holiday in the US markets.

The trading range for today is expected among 1.1300 support and 1.1443 resistance

Support and resistance:

Support: 1.1341-1.1300-1.1210-1.1181

Resistance: 1.1386-1.1443-1.1500

The general trend for today is bearish

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The Pound fluctuated in a tight range slipping towards the Asian session to see its rebound to its second highest session since the end of December against the Japanese Yen amid a lack of economic data on Monday by the British economy and with the absence of the US market ...

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The Pound fluctuated in a tight range slipping towards the Asian session to see its rebound to its second highest session since the end of December against the Japanese Yen amid a lack of economic data on Monday by the British economy and with the absence of the US market earlier this week due to the celebration holiday Martin Luther King Day in the United States.

At 05:54 GMT, the pair dropped 0.20% to levels of 1.2846 compared to the opening levels at 1.2871 after the pair reached a low of 1.2846 and a high of 1.2876.

Technical Analysis

GBPUSD failed to hold well above 1.2962, to trade with strong negativity and settle below 1.2900, putting the price under negative pressure expected in the coming period, targeting 1.2760 and then 1.2636 mainly.

Therefore, the bearish bias will be likely for today if the price does not push to breached the 1.2962 level and stability above it.

The trading range for today is expected between 1.2760 and 1.2940 support

Support and resistance:

Support: 1.2752-1.2662-1.2586

Resistance: 1.2876-1.2970-1.3105

The general trend for today is bearish

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Gold futures traded in a tight range slipping during the Asian session, negating the negative stability of the US dollar index, indicating a rebound to the second session of the highest since January 4 according to the inverse relationship between them following the developments and economic data that followed on ...

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Gold futures traded in a tight range slipping during the Asian session, negating the negative stability of the US dollar index, indicating a rebound to the second session of the highest since January 4 according to the inverse relationship between them following the developments and economic data that followed on the Chinese economy largest A global consumer of metals and the center of the absence of the US market due to the holiday celebration of Martin Luther King.

Gold futures for February delivery fell 0.11% to currently trade at $ 1,281.20 per ounce from the opening at $ 1,282.60 per ounce, while the US dollar index fell 0.03% to 96.31 compared to the opening at 96.34. .

We followed the National Bureau of Statistics (NBS) survey for China on a seasonally adjusted GDP forecast for the fourth quarter of 2018, which showed growth slowing to 1.5% in line with expectations versus 1.6% in the third quarter. Also with expectations compared to 6.5% in the previous annual reading for the third quarter to reflect the lowest growth rate since the first quarter of 2009.

In the same context, the annual reading of China's retail sales index for December showed an acceleration of growth to 8.2% compared to last November's previous forecast and expectations of 8.1%, and the annual reading of industrial production accelerated to 5.7% compared to 5.4% , Compared to expectations of 5.3%, in conjunction with the reading of unemployment rates, which increased to 4.9% compared to 4.8% in November.

Last week, China unveiled plans to boost spending by cutting taxes amid Beijing's pledge to step up efforts to boost growth, in conjunction with the People's Bank of China's work to maintain liquidity levels by injecting a record amount of money into the Chinese banking system through open market operations There, analysts predicted the continued expansion of China's stimulus during the coming period to combat the slowdown of economic growth.

Otherwise, we went on Saturday, US President Donald Trump said he had made progress toward a trade deal with China and denied thinking about raising tariffs. "Things are going well with China and with trade," he told reporters at the White House. Vice Premier Liu is the United States in the last two days of this month in the second round of trade talks between Washington and Beijing.

In the same context, we followed last Friday the report that China is making offers to get rid of the imbalance in the US trade, including a six-year round of purchases, increasing imports from America to more than $ 1 trillion, to reduce the trade surplus which reached last year $ 323 billion to zero by 2024, according to officials familiar with the negotiations told Bloomberg news agency with their students not to be named.

This came after the report on Thursday that US Treasury Secretary Stephen Manuchen discussed raising some or all tariffs on Chinese imports and working on a proposal to reverse tariffs in the second round of US trade talks, According to the Wall Street Journal citing people familiar with the internal deliberations.

"There is no discussion about raising tariffs now," US Treasury Department spokesman Emmons Javres told CNN on Thursday. The trade truce between Washington and Beijing expires in March and reflects developments. The current probability of the two parties reaching a trade agreement, which weighs on the performance of gold prices, which is a safe haven and alternative to investment with the transfer of liquidity to the stock markets.

Technical Analysis

The price of gold ended last week's trading below 1286.70, putting the price under negative pressure expected in the coming period, towards a possible test of 1262.50 level mainly.

Therefore, we expect the bearish bias to continue in the coming sessions, noting that breaching the 1286.70 level and stabilizing above it will reactivate the bullish scenario which has the next target at 1316.65.

For the indicators, we see that the price is trading below the moving average 7 where the price of this average burned, while the average move 20 resistance to the price and stopped the decline last Friday and opened today below this average so we can see more deflation in the price movement as long as the price Under this line.

Stochstic removed from the neutrality that was moving and its direction and headed towards the oversold area to increase the negative pressure on the price movement.

The trading range for today is among the support at 1260.00 and resistance at 1295.00

Support:

Support: 1286.83-1262.50-1251.00

Resistance: 1293.00-1301.00-1318.00

The general trend for today is bearish

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Sbearbank continues its bullish streak extending from three weeks ago. Where the price succeeded in breaching the resistance 202.00 and close above it for two days and wait for the closure for the third day until it is sure to break the resistance effectively.

The moving averages support the ...

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Sbearbank continues its bullish streak extending from three weeks ago. Where the price succeeded in breaching the resistance 202.00 and close above it for two days and wait for the closure for the third day until it is sure to break the resistance effectively.

The moving averages support the price movement as the moving average 7 moves steadily below the price and stability and stability are provided for the continuation of the bullish movement. We also notice the SMA 50 near the support of 193.85 which is the 23.6% Fibonacci retracement. (7-20-50) for the ascending order

The Stochastic is moving in the overbought area in a positive signal for the price to move higher.

The expected movement between the support of 195.83 and resistance is 211.00

General trend of the movement: upward

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