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The US dollar fluctuated in a narrow range, tilted lower during the Asian session to witness the bounce for the eighth session in twelve sessions from its highest since late May against the Japanese yen following the developments and economic data that followed from the Japanese economy and on the ...

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The US dollar fluctuated in a narrow range, tilted lower during the Asian session to witness the bounce for the eighth session in twelve sessions from its highest since late May against the Japanese yen following the developments and economic data that followed from the Japanese economy and on the eve of developments and economic data expected on Friday before The US economy is the largest in the world.

At 06:06 AM GMT, the USDJPY fell 0.02% to 108.62 levels from the opening levels of 108.64 after the pair reached its lowest level during the session at 108.57, while the highest level at 108.71.

This was followed by the release of inflation data with the release of the annual CPI reading which showed a steady growth of 0.2% in October, contrary to expectations for accelerating growth to 0.3%, while the annual reading of the same index excluded food. Fresh growth accelerated to 0.4% in line with expectations versus 0.3%, and the annual reading of the same index excluding energy and fresh food accelerated growth to 0.7% against 0.5%, beating expectations of 0.6%.

This came before we witnessed the preliminary reading of the manufacturing PMI by Markit of Japan, the third largest economy in the world and the third largest industrial country in the world, which showed a contraction in contraction to 48.6 vs. 48.4 in October, contrary to expectations that contraction would shrink. To 48.7, a reading below 50 reflects contraction, while a reading at 50 or higher reflects widening.

On the other hand, investors are awaiting the release of the preliminary reading of the manufacturing and services PMI from the US, amid expectations that the initial reading of the industrial sector will expand to 51.5 vs. 51.3 in the previous reading for October, as may show the preliminary reading The Services PMI widened to 51.2 from 50.6 in October.

The final reading of the University of Michigan's consumer confidence index, which may show an expansion to 95.8 compared to 95.7 in the previous initial reading and 95.5 in October, comes hours after the release of last Wednesday's minutes of the FOMC meeting held on 29-30 October, when interest rates were cut for the third time in a row by 25 basis points to between 1.50% and 1.75%.

Technical Analysis

USDJPY is trading slightly positive, gradually moving away from 108.40, supporting the continuation of the bullish outlook, awaiting a break above SMA 50 to facilitate the task of achieving our first target at 109.33.

Thereby, we expect more bullish bias for today, noting that the continuation of the bullish wave depends on stability above 108.40.

Expected trading range for today is between 108.00 support and 109.30 resistance.

Expected trend for today: Bullish.

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Gold futures fluctuated in a narrow upward range during the Asian session, shrugging off the rebound of the US dollar index for the fifth session of its lowest since November 5 in accordance with the inverse relationship between them on the eve of developments and economic data expected on Friday ...

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Gold futures fluctuated in a narrow upward range during the Asian session, shrugging off the rebound of the US dollar index for the fifth session of its lowest since November 5 in accordance with the inverse relationship between them on the eve of developments and economic data expected on Friday by the US economy and in the shadows Developments of the trade war between Washington and Beijing, which have recently passed their first year.

At 04:13 am GMT gold futures for February delivery rose 0.05% to trade at $ 1,465.10 an ounce compared to the opening at $ 1,464.30 an ounce, knowing that the contracts started the session on a bullish price gap after yesterday's trading ended At $ 1,463.60 an ounce, while the US dollar index rose 0.02% to 97.95 compared to the opening at 97.93.

Investors are currently awaiting the release of the preliminary reading of the US Manufacturing and Services PMI from Markit, amid expectations that the initial reading of the manufacturing sector will expand to 51.5 vs. 51.3 in the previous reading for October, as the preliminary reading of the PMI may show SOA expanded to 51.2 vs. 50.6 in October.

The final reading of the University of Michigan's consumer confidence index, which may show an expansion to 95.8 compared to 95.7 in the previous initial reading and 95.5 in October, comes hours after the release of last Wednesday's minutes of the FOMC meeting held on 29-30 October, when interest rates were cut for the third time in a row by 25 basis points to between 1.50% and 1.75%.

Otherwise, we followed the report that Chinese Vice Premier Liu Hu recently invited US Trade Representative Robert Lightzer to Beijing for further talks this month, the South China Morning Post reported yesterday, and is likely to be delayed. Washington's new tariffs are due to be applied in the middle of next month on Chinese goods even if no agreement is reached by then.

US President Donald Trump may soon sign the Hong Kong Human Rights and Democracy Bill passed by the Senate on Wednesday before legislation that supports protesters in Hong Kong is put to a vote in the House of Representatives, which has been attacked. It is evident by Beijing that may cast a shadow over the chances of resolving the differences between the world's two largest economies.

Technical Analysis

The price of gold stabilized below the resistance of the descending correctional channel, and features a rising wedge pattern where the price is attempting to break its support, which supports the chances of achieving further decline during the coming sessions, on the way to visit the level of 1447.00 initially.

Therefore, a bearish bias is likely for today, noting that exceeding the mentioned target will push the price to 1413.10 as the next corrective stop, while stability below 1489.00 is the most important condition for the continuation of the expected decline.

Expected trading range for today is between 1445.00 support and 1475.00 resistance.

Expected trend for today: Bearish.

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The single currency fluctuated in a narrow, bullish range during the Asian session to see its fifth session rebound in seven of its lowest since October 10 against the US dollar on the eve of developments and economic data expected on Friday by the euro zone economies and the largest ...

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The single currency fluctuated in a narrow, bullish range during the Asian session to see its fifth session rebound in seven of its lowest since October 10 against the US dollar on the eve of developments and economic data expected on Friday by the euro zone economies and the largest US economy In the world.

At 05:27 AM GMT, the EURUSD rose 0.05% to 1.1065 levels from the opening levels of 1.1059 after hitting a session high of 1.1066 and a low of 1.1056.

Markets are looking for Germany, the euro zone's largest economy, to reveal the final Q3 GDP reading, which could reflect a stable growth of 0.1%, little changed from the previous initial reading and a contraction of 0.1% in the second quarter. Growth at 0.5%, and the final seasonally adjusted annual reading of the index may show a stable growth of 1.0%.

This comes before we see the French economy, the second largest economy of the euro area, Germany's largest economy of the region and the economies of the region as a whole the preliminary reading of the Markit index of industrial purchasing managers and services this month, which may reflect the expansion of the service sector and industrial in France, and shrinking service sector and shrinking industrial sector In Germany and the economies of the region as a whole.

Markets are also eyeing the speech of ECB Governor Christine Lagarde at the European Banking Conference and German Central Bank President Jens Weidmann at the same conference in Frankfurt, hours after the release of the minutes of the ECB meeting on 24 October. Interest rates were kept at zero levels with a marginal lending rate of 0.25% and a deposit rate of -0.50%.

On the other hand, investors are awaiting the release of the preliminary reading of the manufacturing and services PMI from the US, amid expectations that the initial reading of the industrial sector will expand to 51.5 vs. 51.3 in the previous reading for October, as may show the preliminary reading The Services PMI widened to 51.2 from 50.6 in October.

The final reading of the University of Michigan's consumer confidence index, which may show an expansion to 95.8 compared to 95.7 in the previous initial reading and 95.5 in October, comes hours after the release of last Wednesday's minutes of the FOMC meeting held on 29-30 October, when interest rates were cut for the third time in a row by 25 basis points to between 1.50% and 1.75%.

Technical Analysis

EUR / USD ended yesterday's trading below 1.1065, putting the price under negative pressure that may push the trades back to the downside correctional path, where the next targets are located at 1.0995 and then 1.0950, but on the other hand, we notice that SMA 50 formed a strong support to protect Stochastic is providing clear positive signs that may lead the price to recover.

Therefore, this inconsistency between the technical factors makes us prefer to remain neutral until the price confirms its position towards 1.1065, noting that stability above it will re-activate the bullish trend scenario, whose targets start with a breach of 1.1105 to open the way towards 1.1180 as the next major stop.

Expected trading range for today is between 1.1000 support and 1.1150 resistance.

Expected trend for today: Neutral.

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The Australian dollar fluctuated in a narrow uptrend range during the Asian session, while still making its third weekly loss against the US dollar following the developments and economic data that followed from the Australian economy and on the eve of developments and economic data expected on Friday by the ...

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The Australian dollar fluctuated in a narrow uptrend range during the Asian session, while still making its third weekly loss against the US dollar following the developments and economic data that followed from the Australian economy and on the eve of developments and economic data expected on Friday by the US economy, the world's largest economy .

At 02:56 AM GMT, the Australian dollar against the US dollar rose 0.01% to 0.6788 levels, compared to the opening levels at 0.6787, after the pair achieved the highest during the trading session at 0.6795, while the lowest level at 0.6786.

This was followed by the preliminary reading of Australia's Manufacturing and Services PMI for November which showed the manufacturing sector contracted to 49.9 vs. 50.0, which was revised from 50.1 in October, and the service sector contracted. To 49.5 versus widening at 50.1 which returned from widening at 50.8 in October.

On the other hand, investors are awaiting the release of the preliminary reading of the manufacturing and services PMI from the US, amid expectations that the initial reading of the industrial sector will expand to 51.5 vs. 51.3 in the previous reading for October, as may show the preliminary reading The Services PMI widened to 51.2 from 50.6 in October.

The final reading of the University of Michigan's consumer confidence index, which may show an expansion to 95.8 compared to 95.7 in the previous initial reading and 95.5 in October, comes hours after the release of last Wednesday's minutes of the FOMC meeting held on 29-30 October, when interest rates were cut for the third time in a row by 25 basis points to between 1.50% and 1.75%.

Technical Analysis

AUDUSD is attempting to break the support line shown above, noting that the Stochastic is providing a negative crossover signal now waiting for the price to break the mentioned support and open the way to achieve our negative targets starting at 0.6725 then 0.6670.

Therefore, the bearish trend will remain valid for the upcoming period unless breaching 0.6840 and holding above it.

Expected trading range for today is between 0.6740 support and 0.6820 resistance.

Expected trend for today: Bearish.

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NZDUSD (22.11.2019)

Time frame

Trend

Call levels

Put levels

Xpir time

Н1

bullish

0.6325; 0.6360; 0.6398; 0.6436.

0.6465; 0.6436; 0.6398; 0.6360.

1-3 TF

Time of publication of important economic news

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USDCAD (22.11.2019)

Time frame

Trend

Call levels

Put levels

Xpir time

Н1

bullish

1.3133; 1.3200; 1.3236; 1.3270; 1.3325. ...

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NZDUSD (22.11.2019)

Time frame

Trend

Call levels

Put levels

Xpir time

Н1

bullish

0.6325; 0.6360; 0.6398; 0.6436.

0.6465; 0.6436; 0.6398; 0.6360.

1-3 TF

Time of publication of important economic news

---

 

USDCAD (22.11.2019)

Time frame

Trend

Call levels

Put levels

Xpir time

Н1

bullish

1.3133; 1.3200; 1.3236; 1.3270; 1.3325.

1.3325; 1.3270; 1.3236; 1.3200.

1-4 TF

Time of publication of important economic news

CAD – 16:30.

 



When buying an option against the trend, it is necessary to confirm other instruments of technical analysis - the presence of divergence, candlestick reversal patterns. Buy against trend strictly on level retest! Buying an option before publishing important economic news is considered risky. The expiration time depends on the strength of the level and confirmation by additional tools of technical and fundamental analysis.

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The pair is trading in the range of 1.1055-1.1085 in anticipation of the ECB president Christine Lagarde's speech at the economic forum in Frankfurt today.If she confirms the need for a softer monetary policy adopted earlier under Mario Draghi, this may lead to the resumption of the pair drop. Today’s ...

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The pair is trading in the range of 1.1055-1.1085 in anticipation of the ECB president Christine Lagarde's speech at the economic forum in Frankfurt today.If she confirms the need for a softer monetary policy adopted earlier under Mario Draghi, this may lead to the resumption of the pair drop. Today’s positive US economic statistics may also become an additional negative factor.

The price is below the middle Bollinger bands, above SMA 5, but below SMA 14. The moving averages give a sell signal. RSI is located just above the level of 50% and is growing. Stoch demonstrate the probability of a price reversal up.

Trading recommendations:

The breakout of the level 1.1055 will result in a probable drop of the pair to 1.0000.

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The resistance level of 53.40 held back buyers. The stock is trading in the range of 365 and 135 moving averages directed downwards. Stochastic Oscillator indicator showed an exit from the overbought zone, and the MACD indicator signals a bearish divergence.

Trading recommendations:

Sell at the breakout of the start ...

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The resistance level of 53.40 held back buyers. The stock is trading in the range of 365 and 135 moving averages directed downwards. Stochastic Oscillator indicator showed an exit from the overbought zone, and the MACD indicator signals a bearish divergence.

Trading recommendations:

Sell at the breakout of the start fractal below 52.75.

For stop Loss the resistance level of 53.40.

Target levels - 52.11; 51.57.

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The currency pair is trading in the upper limit range of the descending price channel. An ascending truncated structure of the H1 level has formed and ended with the breakout of the inclined channel. The resistance level of 108.70 holds back buyers, and Stochastic Oscillator indicator signals overboughtness.

Trading reccomendatoins: ...

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The currency pair is trading in the upper limit range of the descending price channel. An ascending truncated structure of the H1 level has formed and ended with the breakout of the inclined channel. The resistance level of 108.70 holds back buyers, and Stochastic Oscillator indicator signals overboughtness.

Trading reccomendatoins:

Sale while a descending structure is forming.

Stop Loss at the resistance level 108.70.

Target levels - 108.27; 107.92.

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USDCHF (21.11.2019)

Time frame

Trend

Call levels

Put levels

Xpir time

Н1

flat

0.9853; 0.9871; 0.9893; 0.9919; 0.9937.

0.9977; 0.9937; 0.9919; 0.9893; 0.9871.

1-3 TF

Time of publication of important economic news

 USD – 16:30; 18:00.

 

USDJPY (21.11.2019)

Time frame

Trend

Call levels

Put levels

Xpir time

Н1

bearish ...

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USDCHF (21.11.2019)

Time frame

Trend

Call levels

Put levels

Xpir time

Н1

flat

0.9853; 0.9871; 0.9893; 0.9919; 0.9937.

0.9977; 0.9937; 0.9919; 0.9893; 0.9871.

1-3 TF

Time of publication of important economic news

 USD – 16:30; 18:00.

 

USDJPY (21.11.2019)

Time frame

Trend

Call levels

Put levels

Xpir time

Н1

bearish

107.91; 108.27; 108.66; 108.83; 109.06.

109.47; 109.06; 108.83; 108.66; 108.27.

1-4 TF

Time of publication of important economic news

USD – 16:30; 18:00.

 

When buying an option against the trend, it is necessary to confirm other instruments of technical analysis - the presence of divergence, candlestick reversal patterns. Buy against trend strictly on level retest! Buying an option before publishing important economic news is considered risky.   The expiration time depends on the strength of the level and confirmation by additional tools of technical and fundamental analysis.

Hide

The US dollar fluctuated in a narrow range, tilted lower during the Asian session to witness the bounce for the eighth session in eleven sessions from its highest since late May last against the Japanese yen following the developments and economic data that followed from the Japanese economy and on ...

Read more...

The US dollar fluctuated in a narrow range, tilted lower during the Asian session to witness the bounce for the eighth session in eleven sessions from its highest since late May last against the Japanese yen following the developments and economic data that followed from the Japanese economy and on the eve of developments and economic data expected on Thursday from Before the US economy.

At 06:00 AM GMT, the USDJPY fell 0.04% to 108.57 levels compared to the opening levels of 108.61, the pair's highest level during the trading session, while the pair achieved the lowest at 108.28.

The Japanese economy, the third largest in the world and the third largest industrial country in the world, followed the release of the industrial sector data with the release of the overall manufacturing activity index which showed a 1.5% rise in line with expectations against the stability at zero levels last August. Yesterday we followed the Japanese House of Representatives passing the trade agreement with the United States.

In the same context, the Japan-US trade agreement, which follows the expansion of tariff reductions on goods that include US agricultural goods and Japanese rates, is expected to be voted on by the House of Councilors. By next January as the Japanese foreign minister noted earlier last month.

On the other hand, investors are awaiting the US economy for the release of the index of claims for the last week on the 16th of this month, which may reflect a decline of 10 thousand applications to 215 thousand applications compared to 225 thousand applications in the previous weekly reading, while reading may show Investors for the week ending 9th of this month stabilized at 1,683 thousand applications.

This comes in conjunction with the disclosure by the largest industrial country in the world for the reading of the Philadelphia industrial index, which may reflect an expansion to 7.0 from 5.6 in October, before we see the release of housing market data with the release of the existing home sales index. That could show a rise of 2.1% to 5.49 million, compared to a decline of 2.2% at 5.2.2 million in September.

Markets from the world's largest economy are also looking to reveal the leading indicators that may show a 0.1% decline in October, following hours of the FOMC minutes from October 29-30. October, in which interest rates were cut for the third time in a row by 25 basis points to between 1.50% and 1.75%.

Technical Analysis

USD / JPY is hovering around the 108.40 level, and made an attempt to break it yesterday but managed to hold above it, to keep the upside trend likely in the coming sessions, and the price needs to overcome the 50 SMA to release the negative pressure and rush towards our first positive target at 109.33.

Stability above 108.40 is important for the continuation of the expected bullish trend, noting that exceeding the mentioned target will extend the bullish wave to reach 110.50 as the next major stop.

Expected trading range for today is between 108.00 support and 109.30 resistance.

Expected trend for today: Bullish.

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