Bitcoin bulls likely to keep control After the spectacular rally last year, bitcoin entered a dwonward corrective phase forming a falling wedge. The falling wedge is a Bullish Wedge that have a noticeable slant to the downside against the prevailing uptrend. The breakout of the upper trendline of the pattern at 8000 opened the door […]
Continue ReadingThe past week, Coronavirus outbreak continued to attract all the attention. First US equities reached another record level on the back of a declining number of newly infected people. Then on Thursday, the rally in global equity markets came to a halt after the latest virus numbers showed a sharp spike in both infections and […]
Continue ReadingCoronavirus pushes oil prices below $50 The sharp sell-off in oil markets in the past two weeks was due to heightened concerns about a slowdown in global demand and decreased possibility of an OPEC+ emergency meeting with Russian’s disagreement to such a meeting. Although coronavirus fears and the sharp drop of Chinese oil demand, were […]
Continue ReadingThe Coronavirus outbreak continues to attract all the attention, China’s central bank may have managed to stabilize the markets by injecting billions of dollars into the financial system, but investors will still be keeping a close watch on how successful authorities are in curbing the spread of the coronavirus. And although some reports considered that […]
Continue ReadingThe main driver for financial markets remains the Coronavirus and its potential impact on the global economy. The number of confirmed cases and fatalities keeps climbing, and China still seems unable to contain the virus. If it continues to spread at a rapid rate, china growth might take a severe hit and its major trading […]
Continue ReadingIt is true that Cronavirus effects were first confined to the Chinese and Asian markets, but now started spreading to other countries. Its impacts on global markets are expected to escalate since it continues to spread at a rapid rate. A large number of companies and factories in China closed, including foreign and US companies, […]
Continue ReadingThere will be no shortfall of market-moving events this week, with plenty of top-tier data and crucial central bank meetings shaping the agenda. The meeting of the US Federal Reserve’s rate-setting Federal Open Market Committee (FMOC) and the Bank of England’s Monetary Policy Committee (MPC) are the highlights of the week. The Fed is expected […]
Continue ReadingWhat are the factors that are influencing crude oil prices? In fact, technically we cannot expect anything new. The markets beacame more than fimiliar with OPEC and its allies output reduction, and are now concerned in the trade woes and their impact on the global and Chinese demand for oil on one hand, and the […]
Continue ReadingDiscussing the technical outlook for Gold, S&P 500, Dollar index, EURUSD and GBPUSD Gold (Long Term): Technically, a Bullish reversal pattern had been activated with the breach of 1380, and the market reached the first target at 1520-1550, so the gold may retreat towards 1400 and then eventually continue its bullish trend, targeting […]
Continue Readingdiscussing the Bitcoin, EURUSD, GBPUSD, Oil, Gold, SPX and DAX outlooks
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