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The EURUSD pair opens today’s trading with bearish bias to move away from the bearish channel’s resistance that appears on the chart, which supports the continuation of the expected bearish trend scenario for the upcoming period, which targets 1.1180 as a next main station.

The EMA50 supports the suggested bearish wave, noting that holding below 1.1320 represents the first condition to continue the suggested negative scenario.

The expected trading range for today is between 1.1200 support and 1.1360 resistance.

The expected trend for today: Bearish

...Read More... 2019-02-19 09:54:04

Sterling rose today after a spate of data released last Friday despite persistent Brexit uncertainty. 

The UK Parliament rejected PM Theresa May's Brexit strategy last week, triggering more uncertainty and concerns in the market. 

UK retail sales rose 0.1% last month after a 0.7% drop in the last month of 2018. 

An IWH study showed that a no-deal Brexit would cause harm to Germany most of all out of Europe, and potentially causing the loss of 100 thousand jobs. 

As of 16:22 GMT, GBP/USD rose 0.3% to 1.293, with an intraday low at 1.2891. 

...Read More... 2019-02-19 09:52:21
OIL

Crude oil price fluctuates within tight track since yesterday, settling above 56.00 barrier, thus, no change to the bullish trend scenario affected by the previously completed inverted head and shoulders’ pattern, reminding you that our targets begin at 57.46 and extend to 65.00 after breaching the previous level, while the expected rise will remain valid unless breaking 54.50 level and holding below it.

The expected trading range for today is between 55.00 support and 58.00 resistance.

The expected trend for today: Bullish

...Read More... 2019-02-19 09:50:13

Silver prices rose on Monday for the third session, marking two-week highs as copper rose as well while dollar fell against most rivals. 

Silver rose 0.25% as of 12:05 GMT to $15.80, with a session-low at $15.75, and a two-week high at $15.83. 

The white metal rose 1.1% on Friday, the second profit in a row as copper prices rose as well. 

Copper rose 0.8% on Monday on concerns of lower supplies in the market, while US-China trade talks achieve progress. 

Optimism is rising for US-China trade talks, with both Chinese and US Presidents praising progress in negotiations. 

President Trump said he'd be happy to cancel tariffs if a deal is reached with China, adding his administration is nearer that goal than ever. 

Chinese President Xi Jinping also said the talks will carry on in Washington this week, hoping for an agreement soon before the truce deadline in early March. 

...Read More... 2019-02-19 09:48:00

Gold prices rose today as the dollar index lost ground, as investors cautiously follow the US-China trade talks. 

Despite a string of positive remarks last week, no real results came so far, with eyes shifting to new talks this week in Washington. 

China today criticized the US tightening of the noose on Chinese tech companies by accusing Huwaei of corporate espionage. 

The dollar index shed 0.1% as of 18:40 GMT to 96.7, with an intraday high at 96.9, and a low at 96.6. 

Gold rose 0.6% to $1,329.7 an ounce, with a session-high at $1,330.8, and a low at $1,323.8. 

 

 

...Read More... 2019-02-19 09:45:23
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