Author: Mohammad

  • Daily Technical Analysis 7/16/2024

    Daily Technical Analysis 7/16/2024

    EUR/USD

    The Eurodollar is rising this morning and is trading at $1.0887, up 0.06%, technically speaking: The pair rose to the third resistance area, rebounded from it and rose again, and is currently testing the area, and the expected scenarios are to continue to rise by targeting 1.09256, and the alternative scenario is to fall by targeting the second resistance area,

    Upcoming news that may affect the movement of the euro dollar:

    US: Core retail sales 16:30

    Second resistance area

    1.07959 – 1.08017

    First resistance area

    1.07422 – 1.07486

    fulcrum

    1.07245

    First support area

    1.06980 – 1.07086

    Second support area

    1.06490 – 1.06592

    GBP/USD

    The British pound fell this morning by 0.09% and is currently trading at $1.2956, technically speaking: The British pound reaches the resistance area on the four-hour time frame and stabilizes above these levels, and the possible scenarios are a drop with a target of 1.28646, and the alternative scenario is the continuation of the rise with a target of 1.29717 again

    Upcoming news that could affect the movement of the British pound:

    US: Core retail sales 16:30

    Second resistance area

    1.25423 – 1.25282

    First resistance area

    1.24750 – 1.24554

    fulcrum

    1.23827

    First support area

    1.23093 – 1.22931

    Second support area

    1.22089 – 1.21847

    USD/JPY

    The dollar rose this morning with the European markets after falling last week and is currently trading at 158.50 levels and technically: The pair fell yesterday and bounced from the first support area, and the expected scenarios are to rise by targeting the first resistance area, and the alternative scenario is to fall by targeting the first support area again and then the second support area

    Upcoming news that may affect the movement of the dollar/yen:

    US: Core retail sales 16:30

    Second resistance area

    163.079 -163.555

    First resistance area

    159.845 -160.165

    fulcrum

    159.000

    First support area

    155.406 – 155.343

    Second support area

    156.341 – 156.260

    AUD/USD

    The Aussie is down 0.23% against the dollar this morning and is currently trading at 0.6744, technically speaking: The prices rose and reached 0.68003, and the possible scenarios are a retest of the third resistance zone and the alternative scenario is to rise as a retest targeting 0.68000

    News that may affect the movement of the Australian dollar against the US dollar:

    US: Core retail sales 16:30

    Second resistance area

    0.66143 – 0.66231

    First resistance area

    0.65663 – 0.65783

    fulcrum

    0.65217

    First support area

    0.64541 – 0.64633

    Second support area

    0.60219 – 0.59604

    USOIL

    Oil prices fall after retesting $83.55 Oil is down 0.86% this morning and is currently trading at $81.24 per barrel. Technically, oil targeted $85.58, and it is possible to fall by targeting the second resistance area and then the first resistance, and the alternative scenario is to continue to rise by targeting $85.58 levels

    News you may like the movement of oil:

    Second resistance area

    81.71 – 82.00

    First resistance area

    79.08 – 79.38

    fulcrum

    77.47

    First support area

    75.20 – 75.67

    Second support area

    73.13 – 73.62

    XAU/USD

    Gold rises this morning and rises with the European session and is currently trading at 2435.92 dollars per ounce. Technically, it is trading near the second resistance area at 2446.43 dollars, and the possible scenarios are to continue to rise by targeting the second resistance area and the alternative scenario is to fall by targeting the first resistance area

    News that may affect the movement of gold:

    US: Core retail sales 16:30

    Second resistance area

    2451.17 – 2446.43

    First resistance area

    2408 – 2413.10

    fulcrum

    2394.35

    First support area

    2377.35 – 2372.87

    Second support area

    2355.59 – 2350.21