Technical Analysis

The German DAX index began to rise, posting a strong gain, reaching an intraday high at 12985. On the technical side, and looking at 60-minute chart, we find that the simple moving averages continue to hold the price along with positive signals from the RSI. Therefore, a bullish bias is …

building on the strong support mentioned in the previous analysis at 27700. Technically, as the index continues to receive positive signals from the RSI, it coincides with the positive signals from the 50-day moving average. This encourages us to hold onto our positive outlook, knowing that trading above 28355 confirms …

Positive trading dominated the moves in the pound against the Japanese yen after it succeeded in establishing good support around 136.00. Technically, we are biased towards the positivity based on the positive signals of the 50 day moving average. As long as the intraday trading remains above 136.65, the bullish …

Negative trading is dominating the Canadian dollar after it failed to stabilize above the psychological barrier resistance of 1.3300, to gradually start drifting to the downside. Technically, we find that the SMA 50 continues negative pressure on the price, and this coincides with the stability of the RSI indicator below …

The pound was able to achieve the first awaited target we mentioned in the previous analysis at 1.2840, recording its lowest level at 1.2845. On the technical side, the support level represented by our target was able to push the pair up again with the aim of re-testing the resistance …

Oil, Crude, trading

The technical outlook for gold has not changed, nor has there been any significant change in its movement still in sideway moves. Technically, looking at the 4-hour chart, we find that the RSI supports the downside moves, in addition to the confirmation of gold’s breach of 1901 support, which turned …

The Euro was calm and tends to be positive during the session, noting that we remained neutral during the previous report due to the conflicting technical signals. On the technical side and by looking at the chart, we find that the 50-day simple moving average has returned to hold the …

The German DAX was able to apply the bullish scenario as we expected, surpassing the initial target to be achieved 12895/12890, shy of few points from the second goal 12965, recording its highest at 12947. Technically, the current movements of the index may witness a slight bearish tendency due to …

The Dow Jones Industrial Average managed to achieve our bullish targets located at 28190, just shy of 28240, recording its highest level at 28230. Technically, despite the bearish trend, we are biased towards negativity, relying on negative signs appearing on the RSI and staying below the 50 midline. Therefore, we …