Daily reviews

News of the day, Thursday, May 19

S&P has lowered the 2022 GDP growth prognosis for some countries. USA economic growth is expected to decrease to 2.4% from 3.2%, and the EU GDP outlook may decrease to 2.7% from 3.3%.

Strategists assume a 0.5% interest rate hike in India at …

Gold settled around the support 1810.90 after rebounding from the resistance level. It showed weak trading yesterday. In general, we will continue to suggest the bearish path as long as the price continues to move below the level of 1850.00 in the medium term. The target will be the 1780.00 …

The EUR/USD pair rebounded from the resistance level 1.0575, and reached the first target 1.0475, which constitutes a strong support level for the price.

Technical indicators support the bullish scenario, where the 20-50 moving averages form a strong support for the price and press it to end the bearish movement. …

The pound sterling dollar pair rebounded from the resistance level of 1.2495 to the downside and ended yesterday's trading below 1.2400 levels, thus it may have stopped the bullish correction and is heading towards achieving its bearish targets at the levels of 1.2300 then 1.2260.

The moving average 50 formed …

The ascendant wave structure is truncated. The inclined channel of the ascendant truncated structure is breached. Awesome Oscillator indicates bearish divergence, and Stochastic Oscillator signals overbought conditions.

Trading idea:

Sell when level 0.8472 is breached.

Stop-loss is over the local maximum of the ascendant truncated structure.

Target levels: 0.8435; 0.8400.

#INTC

The descendant wave structure is truncated. The historic level 42.00 formed in 2018 restrains sellers. Awesome Oscillator indicates bullish divergence.

Trading idea:

Buy when the ascendant wave structure forms, where the wave (A) breaches through the inclined channel of the descendant truncated structure.

Stop-loss is below the local minimum …

News of the day, Wednesday, May 18

Iran: sanctions over Russian crude export opened the market for Iranian oil.

Goldman Sachs has lowered the Chinese 2022 GDP prognosis from 4.5% to 4%.

Finland’s Rehn suggests ECB will increase the interest rate in the summer.

Billy Markus, a Dogecoin co-founder: 95% …

The pound sterling dollar pair rose during yesterday's session and the beginning of today's trading, and managed to break the resistance level of 1.2340, and reached the next target at the level of 1.2490.

The moving averages support the bullish movement, but we notice that the price moved away from …

Gold failed to breach the resistance 1827.20, then returned to complete the descending path within the descending channel shown in the chart. And it reached the support level 1810.90 and is trying to breach it, and the target will be the level of 1780.00.

The moving averages formed resistance levels …

The EUR/USD pair managed to break the resistance 1.0475 and reached the first target at the level of 1.0560. Therefore, it is a positive sign to end the old bearish path and start a bullish correction that may turn into a new path if trades stabilize above 1.0560, and the …