Technical Analysis

We were on the sidelines during the previous report, indicating that we are waiting for confirmation of the pair breaking the 1.1720 support level, and the following moves will witness consolidation below the mentioned level. Technically, with trading remaining below 1.1720, the 23.60% retracement as shown on the chart, in …

Negative trading dominated the German DAX, recording the lowest level at 12935, near the support level mentioned in the previous analysis, 12925. Technically, we tend to negativity based on negative signs from the stochastic with negative pressure coming from the 50 day moving average. Therefore, the bearish bias will be …

The Dow Jones Industrial Average declined significantly during the previous session’s trading, negating the positive outlook. As we expected, as a reminder, we indicated that returning to trading again below the support level of 28550 will immediately stop the daily bullish trend, and witnessing negative trades targeting 28325, posting low …

sterling’s moves against the Japanese yen was dominated by positive trading towards the psychological barrier of 137.00, posting high at 137.33. Technically speaking, the current moves are consolidating above 136.50, with the positive motive of the 50-day moving average continuing to hold the price. We tend to be positive, but …

The technical outlook remains unchanged for the Canadian dollar and there has been little change in the pair to maintain the negativity for the third session in a row. Technically, we see the pair stable around the support level of 1.3120, as we find the simple moving averages continuing negative …

Positive trading returned to dominate the sterling’s moves against the US dollar, negating the negative outlook, as we expected yesterday, and touching the stop loss order mentioned in the previous analysis at 1.3000, posting high at 1.3065. Technically, the 50-day moving average returned to hold the price in addition to …

Oil, Crude, trading

The resistance levels mentioned in the previous analysis at 1910 limited attempts of yellow metals to rise and to remain negative below the 1901 level. Technically, by looking at the chart, we find that the negative signs are still clear on the stochastic, and this coincides with the RSI giving …

The euro’s movements against the US dollar witnessed sideways trading in a confined range above the 1.1720 support level and below the 1.1800 resistance level. Technically, looking at the 240-minute chart, we find that the 40-day moving average is pressing the price, meeting around 1.1775 / 1.1770 resistance, and adding …

Gold rose on Wednesday as uncertainties about the global economic recovery and the presidential elections in the United States encouraged investors to exploit and buy a sharp decline in the precious metal in the previous session. Spot gold rose 0.3% to 1895.84 dollars an ounce, after it fell 1.9% on …