Technical Analysis

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 …

The DAX declined significantly to negate the positive outlook, as we expected. We indicated in the previous report that trading below 13035 and the most important 12990 negates the bullish scenario and puts the price under negative pressure. Its initial targets are 12920, recording its lowest price, 19240, and compensating …

The Dow Jones turned negative after finding a strong resistance level near 28780. Technically, despite the bearish tendency, we find the index is intraday above 28460, with the RSI trying to provide positive signals. We believe that the daily trend is still bullish, but in condition of the breach of …

Negative trading returned to dominate the pound’s moves against its Japanese counterpart, negating the positive outlook as we expected, we indicated that the return of trading stability below 139.60 will negate the suggested scenario and put the price under negative pressure with an initial target of 136.35, to record its …