Alremeithi

Alremeithi

Major currency pairs and stock indices continue to trade inside the shor term range since many weeks as investors are not getting any clear signal of the current economic scenarios hence in a caution mode ,Euro/Usd trading still inside the 6 week range 1.1175-1.1375 and probably continue for more weeks regardless of the ECB meeting due on this Thursday and rates...

Alremeithi

Spot gold is trading inside the hourly range 1765-1775 for the past two days indicating the investors are not yet ready to book the profit and also an upside break out to test the 1800 handle is highly likely . Investors will be looking for the FED Chair remarks later on today ,although there are fears in market regarding the virus threat escalation ,any hawkish...

Alremeithi

April 2020 low to the short term high around the 40 handle , Us oil likely to complete its correction around the 50 day exponential moving average around 32.50 or slightly below it . As of now , its testing the 100 day exponential moving average around 35.50 and price likely to consolidate until Thursday as the investors waiting for output from the JMMC/OPEC...

Alremeithi

Gbp/Usd got a strong support around 1.2075 ,many times tested (even with a fat finger once march low 1.1410) and failed to break .Although on daily TF , 50-55 Exponential moving average around 1.2350-1.12360 stands as a strong resistance ,breaking the daily fib pivot 1.2272 is likely which will makes further way up to test the 1.2340 & 1.2491 resistance...

Alremeithi

Although strong interventions to support the Crude oil prices are on going with recent update from Saudi Arabia to lower the output by additional 1 million bpd in june , but still price failed to break the 27.50 area resistance as the demand from global economies weakens /Corona virus after affects . Technically , price got a strong rejection from the 55 day EMA...

Alremeithi

Head and shoulder formation on daily (24500-24900-24500) indicating price to test the short term range bottom 23000 in coming days ,Like most of the stock indices ,Dow is also trading inside the rectangular range 24500-23000 since the last 20 days / investors lessen exposure in stocks and the general fear in market as the corona virus caused death tolls are...

Alremeithi

Spot gold is trading inside the rectangular range 1670-1730 since 5 weeks as the risk appetite escalates and investors were forced to lessen their long positions . Technically, 1670 area is the short term range bottom/the final fib support ,in my opinion a downside break out of the range and to test the 50 day exponential moving average around 1650 is likely....

Alremeithi

Dax continues to trade inside the short term rectangular range (10250-10900) ,11000 area remains as the major resistance which is also the 50% Fib retracement level (13820 - 7965 sell off) .Price got squeezed inside the major EMA - Fib levels since a month backed by the Q1 earnings numbers + ECB's comments on the strong intervention to support the economy,though...

Alremeithi

Euro/Usd dropped to the second Fib support 1.0846 as the Germany's court demands justifications for ECB's mass bond buying program . The pair failed to break the 100 day exponential moving average (1.0975) last week ,although price made a high around 1.01017 area . Technically , breaking the 1.0846 short term support,price likely to test the third Fib level 1.0798...