Technical Analysis

Gold prices fell as we expected yesterday to touch the target to be achieved at 1892. We indicated that breaking the aforementioned level forces gold to continue declining towards 1874, posting low at 1872. Technically, looking at the 4-hour chart, we find that the RSI supports the downside moves, in …

The Euro managed to touch the target level mentioned in the previous analysis at the psychological barrier of 1.1800, to hit its highest level at 1.1800. Technically, the aforementioned resistance capped the bullish bias and forced the pair to the downside again, to retest 1.1720. Looking at the chart, we …

The British Pound managed to post strong gains against its Japanese counterpart, as we expected, to reach the first target at 137.20 and record the last session’s high of 137.42. The pair continues to the positive above the 136.40 support level, with positive signs from the 50-day moving average. Therefore, …

Positive trading dominated the German DAX index within the expected bullish path we mentioned in the previous analysis, and reached the target level of 12870, posting a session high at 12870. Technically, the intraday trading is holding above 12770 and generally above 12710/12735 with positive signals from the 50-day moving …

The Dow Jones Industrial Average jumped on Wall Street yesterday, posting strong gains, surpassing the previous target we mentioned of 27880, to hit a high of 28085. Technically, we expect the upside move based on the breach of 27765 resistance, which has turned into strong support, in addition to positive …

The Canadian dollar managed to achieve the negative outlook that we mentioned in the previous analysis, touching the first target during the previous session at 1.3355, recording its lowest price at 1.3242. Technically, and looking at the 4-hour chart, we find that the 50-day moving average is forming pressure on …

The British pound jumped against the US dollar to post strong gains within a bullish path that we expected in the previous analysis, touching our awaited target of 1.3000, reaching the highest level at 1.3000. Technically, the SMA 50 favors a bullish bias as the pair continues to receive positive …

US crude oil futures witnessed positive trading within the expected bullish path in short intervals, with touching the target of 38.70 to continue posting gains to 39.60. Technically, the stochastic is still providing negative signals, in addition to the movement within the descending price channel shown on the chart. There …

The precious metal was able to achieve intraday gains during the previous session, to nullify the negative outlook, as we expected in the previous analysis, and touch the stop-loss at 1910, posting its highest price at 1918. Technically speaking, and by looking at the 4-hour chart, it appears that the …

The single currency managed to achieve the positive outlook that we expected in the previous analysis, by touching the first target 1.1770s, to hit the highest level at 1.1797. Technically speaking, with the pair being able to build on the previously broken resistance level that turned into support of 1.1720, …