Analytic reviews

GBPUSD

The pair is trading above 1.2850 following last week’s local reversal. It’s likely to resume decline, as there’s nothing to substantiate further growth so far.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving horizontally. Stoch are in the oversold territory and aren’t informative.

Trading recommendations:

If the price falls below 1.2850, it will go further down to 1.2735.

GBPUSD

The pair has reached it local maximum level following the news that Theresa May will keep her position as the Prime Minister and will be able to continue Brexit talks with the EU. This means that the price may correct downwards due to local technical overboughtness.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the overbought territory and is starting to reverse downwards. Stoch are n the overbought zone and also are reversing downwards.

Trading recommendations:

If the price drops below 1.2955, it may go further down to 1.2900.

The US dollar fluctuated in a narrowly bullish range during the Asian session to see its ninth session retreat in its 12-session low since March 26 and to make its second straight weekly gain against the Japanese yen following developments and economic data that followed on Friday. The Japanese economy and on the eve of developments and economic data expected Friday by the US economy.

At 05:28 GMT, the US dollar was up 0.13% at 109.40, compared to the opening level at 109.26 after the pair reached its second high of January at 109.44. Session at 109.06.

On the Japanese economy, we saw the National Consumer Price Index (CPI) annual reading, which showed a slowdown in growth to 0.3% in line with expectations versus 0.8% in the previous reading for November, while the annual reading of the same index excluding fresh food excluding energy and fresh food Growth slowed to 0.7% vs. 0.9%, worse than expectations at 0.8%, and stability at 0.3% in line with expectations.

We also followed the third largest industrialized countries in the world to reveal the final reading of the index of industrial production, which showed a decline to 1.0% compared to the previous preliminary reading for October and expectations of 1.1%, compared with 2.9% in September, while the final reading of the annual The same index accelerated growth to 1.5% compared to 1.4% and the reading of the energy utilization rate slowed growth to 1.0% compared to 4.0%.

On the other hand, investors are waiting for Federal Reserve Chairman and Federal Reserve Chairman John Williams to speak about the economic outlook and monetary policy at the Economic Leadership Forum of the New Jersey Banking Corporation before we see the world's largest industrialized nations unveil the production index Which could reflect slower growth to 0.2% versus 0.6% in November.

In conjunction with the release of the Energy Utilization Index reading, which may show a faster growth rate of 78.6% versus 78.5% in November, leading to the release of the January consumer confidence index for January, which may reflect the contraction of the spread to the value of 97.0 versus 98.3 last December.

Technical Analysis

The USD / JPY pair managed to breach the 109.16 level and close the daily candlestick above it, which does the upside scenario over the intraday basis, extending the corrective wave towards 110.24 as a next stop.

Therefore, the bullish trend will be expected during the coming sessions unless the level of 109.16 is broken and stability below it again.

The trading range for today is expected among the support at 108.70 and the resistance at 110.24

Support and resistance:

Support: 108.42-107.73-106.73

Resistance: 109.58-110.18-110.75

The general trend for today is bullish

Gold futures fluctuated in a narrow range slipping into 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 on the eve of developments and economic data expected on Friday from Before the US economy and concurrently continued partial closure of the federal government in the United States.

Gold futures for February delivery fell 0.08% to currently trade at $ 1,291.30 per ounce from the opening at $ 1,292.30 per ounce, while the US dollar index fell 0.01% to 96.06 compared to the opening at 96.07. .

Investors are eyeing what Federal Open Market Committee (FOMC) Chairman and New York Federal Reserve Chairman John Williams will talk about economic outlook and monetary policy at the Economic Leadership Forum of the New Jersey Banking Corporation before we see the world's largest industrial nations unveil the Industrial Production Index Which could reflect slowing growth to 0.2% versus 0.6% in November.

In conjunction with the release of the Energy Utilization Index reading, which may show a faster growth rate of 78.6% versus 78.5% in November, leading to the release of the January consumer confidence index for January, which may reflect the contraction of the spread to the value of 97.0 versus 98.3 last December.

Technical Analysis

Gold is still limited within the bullish triangle pattern as gold fluctuates within this pattern in a sideways trend towards the upside and supports the SMA 7 which is moving below the support level near 1286.83 and the SMA 20 is closer to the price.

Stochastic continues to move sideways as the pair is waiting to stimulate the pair to resume the bullish trend with the next key target at 1316.65.

A break of 1295.00 will provide a strong positive catalyst that will facilitate the price action to achieve the mentioned target, while breaching 1286.70 will halt the expected rally and press the price to turn bearish.

The trading range for today is expected among the support at 1280.00 and resistance at 1316.00

Support and resistance:

Support: 1286.82-126282-1251.30

Resistance: 1295.5-1301.00-1318.00

The general trend for today is bullish

The British pound rose during the US session to its highest since November 15 against the US dollar following developments and economic data that followed Thursday the British economy and its counterpart the US economy, the largest economy in the world.

The British House of Commons announced the date of the British Parliament's vote on the alternative plan for Britain's exit from the European Union on 29 January. British Prime Minister Teresa Mae put forward her alternative plan to parliament on May 21.

The British parliament on Tuesday rejected Britain's exit from the European Union, reached by the May government late last year with EU negotiators, with 432 deputies against the agreement in return for 202 votes in favor of the agreement, followed by another vote in parliament to withdraw confidence From the May government on Wednesday, the May government succeeded in gaining the confidence of 325 parliamentary members in exchange for 306 votes to withdraw confidence from them.

We are looking forward to the release of retail sales for the month of December, which is expected to come down at the Fahima -0.8% compared to the previous reading 1.4%

On the other hand, investors are looking forward to what Federal Open Market Committee (FOMC) Chairman and New York Bank Chairman John Williams will say about the economic outlook and monetary policy at the Economic Leadership Forum of the New Jersey Banking Corporation.

This comes before the world's largest industrial nations saw the release of the industrial production index, which may reflect a slowdown in growth to 0.2% from 0.6% in November, and reading the Energy Utilization Index, which may show growth accelerating to 78.6% versus 78.5% .

Leading to a preliminary reading of the University of Michigan Consumer Sentiment Index for January, which could reflect a widening of 97.0 versus 98.3 in the previous December reading.

Technical Analysis

GBPUSD succeeded in confirming the breach of 1.2962 after closing the daily candlestick above it, reinforcing the bullish short term bullish outlook, with our next target at 1.3070.

Therefore, we are waiting for further upside for the day provided that the price remains stable above 1.2962 which represents the first condition for the continuation of the suggested bullish trend.

The trading range for today is expected among 1.2900 support and 1.3070 support

Support and resistance:

Support: 1.2876-1.2779-1.2713

Resistance: 1.2968-1.3000-1.3070

The general trend for today is bullish

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 eve of economic developments and data expected Friday by the Eurozone economies and the US economy. World economy.

At 0436 GMT, the EURUSD rose 0.04% to 1.1394 compared to the opening at 1.1389 after the pair hit a session high of 1.1400 and a low of 1.1387.

Investors are currently eyeing the Eurozone economy as a whole, with the seasonally adjusted CPI reading, which could reflect a widening surplus to EUR 24.1 billion from EUR 23.0 billion in October.

On the other hand, investors are looking forward to what Federal Open Market Committee (FOMC) Chairman and New York Bank Chairman John Williams will say about the economic outlook and monetary policy at the Economic Leadership Forum of the New Jersey Banking Corporation.

This comes before the world's largest industrial nations saw the release of the industrial production index, which may reflect a slowdown in growth to 0.2% from 0.6% in November, and reading the Energy Utilization Index, which may show growth accelerating to 78.6% versus 78.5% .

Leading to a preliminary reading of the University of Michigan Consumer Sentiment Index for January, which could reflect a widening of 97.0 versus 98.3 in the previous December reading.

Technical Analysis

The EUR / USD pair has not seen any strong movement in the past few days to keep fluctuating around SMA 50 and moving SMA 7 from SMA 20, holding steady below 1.1443, to keep the bearish scenario intact for the coming period, noting that our main targets start at 1.1340 extends to 1.1181 after breaching the previous level, while stability below 1.1443 is an important condition for achieving the awaited targets.

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

Support and resistance:

Support: 1.1686-1.1341-1.1300

Resistance: 1.1443-1.1500-1.1550

The general trend for today is bearish

Amazon continues to be on the uptrend for more than four weeks as the pair reached 1679.00, which is 50% Fibonacci retracement of the major downside movement

All indicators support the bullish movement. We see SMA 7 cross with SMA 50 and it is trading below and near the price and thus posing positive price support for further upside. The 50 MAF continues to move near the 1589.75 support level, reinforcing the strength of the previous support level.

The Stochastic has given a bullish cross signal and is heading towards the overbought area and therefore is a positive sign for a high price.

The expected movement between 1589.75 support and 1769.66 resistance

Support and resistance:

Support: 1679.00-1589.75-1483.76

Resistance: 1769.66-1836.6.-1893.78

General direction of the movement: upward

EURUSD

The pair keeps consolidating amid the reports of slowdown in Germany, the leading economy of the eurozone. The continuing overall negative sentiment will further the pair’s local fall.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold territory and is moving horizontally. Stoch are reversing downwards.

Trading recommendations:

If the price drops below 1.1385, it will go further down to 1.1335.

Gold futures traded in a tight range slipping during the Asian session as the dollar index rose for the fifth session in six sessions from its lowest since October 16 according to the inverse relationship between them on the eve of developments and economic data expected Thursday by the US economy The largest economy in the world, coinciding with the continued partial closure of the federal government in the United States.

Gold futures for February delivery fell 0.09% to currently trade at $ 1,292.70 per ounce from the opening at $ 1,293.90 per ounce. The US dollar index rose 0.05% to 96.12 compared to the opening at 96.07. .

Investors are looking for the US economy, the world's largest industrial nation, to reveal the Philadelphia Manufacturing Index, which may reflect an expansion to 9.7 versus 9.4 last month, in conjunction with the reading of the index of claims for the week ending January 12, 3 thousand requests to 219 thousand applications compared to 216 thousand applications in the previous weekly reading.

Technical Analysis

The price of gold continues to fluctuate within the triangle flag shown in the picture, awaiting the breach of the resistance of this pattern at 1295.50 to get a positive incentive to push the price towards our next positive target of 1316.65.

SMA 50 continues to support the pair from the bottom, so we will continue to push the bullish trend in the coming sessions provided it maintains stability above 1286.70.

The trading range for today is expected among the support at 1280.00 and resistance at 1318.00

Support and resistance:

Support: 1286.82-126282-1251.30

Resistance: 1295.5-1301.00-1318.00

The general trend for today is bullish

The British pound fluctuated in a tight range slipping into the US session to see its rebound to its third high since November 15 against the US dollar following developments and economic data that followed on Wednesday the British economy and its US economy

The May government won a confidence vote of 325 to 306, which means that May will continue to communicate with dissident members of parliament to try to find consensus on how to move forward with Britain's exit from the European Union after parliament rejected the agreement it reached

Yesterday we followed the testimony of Governor of the Bank of England Mark Carney and three members of the Fiscal Committee on the Financial Stability Report to the London Treasury Selection Committee, which noted that there are many signs of weak growth momentum in China and growth is expected to slow further. The Chinese economy during the current year 2019, explaining that China's recent trade data showed a sharp decline.

Carney also expressed his expectation that Chinese growth will fall to five percent and that China's export growth may be close to six percent this year, noting that the Chinese authorities are taking strong stimulus measures and that these measures may not directly affect the Chinese economy. On Tuesday announced plans to boost spending by cutting taxes amid pledges to step up efforts to boost growth.

In addition, we followed the UK economy to reveal inflation data, which showed a steady growth of inflationary pressures at 0.2% in line with expectations, according to consumer price index readings, while the annual reading of the same index showed a slowdown in growth to 2.1% in line with expectations compared to 2.3% in November / November, the core annual reading of the index showed accelerated growth to 1.9% compared to the previous reading and expectations of 1.8%.

This came in conjunction with the PPI reading. The contraction of the PPI shrank to 1.0% from 2.6% in November, beating expectations for a 1.5% contraction. The annual reading of the index showed growth accelerated to 3.7% in line with expectations versus 5.3% The annual housing price index showed growth accelerated to 2.8% from 2.7% in October, below expectations of 3.0%.

On the other hand, investors by the US economy, the world's largest industrial nation, are looking to release the Philadelphia Manufacturing Index, which may reflect an expansion to 9.7 versus 9.4 last month, in conjunction with the January 12 reading of the index of claims claims May reflect a rise of 3 thousand applications to 219 thousand applications compared with 216 thousand applications in the previous weekly reading.

This comes before we see the expected talk of Federal Reserve Vice Governor and Federal Open Market Committee member Randall Quarles during the annual forum of the Insurance Institute in New York. Otherwise, investors are now looking to kick off the G20 summit, which will last until Friday in the capital Japanese Tokyo.

Technical Analysis

GBP / USD is trading around 1.2870 since yesterday, and as the price is above 1.2790, our bullish trend remains valid, supported by the moving average 7 that holds the price from the bottom and the 20 SMA moving average to signal the order The bullish indicators,

The Stochastic is moving near the overbought area, entering this area will make us see more upside and either a negative cross between its lines will lead to correction in the price movement.

The price needs to be positive enough to push trades towards our main target at 1.2962.

The trading range for today is expected among the 1.2790 support and the 1.2960 resistance

Support and resistance:

Support: 1.2779-1.2713-1.2638

Resistance: 1.2876-1.2961-1.2995

The general trend for today is bullish