Daily reviews

Gold prices rebounded from the support level of 1846.70 to the upside, after the decline that occurred at the end of last week as a result of the American news.

The price of an ounce is trading near the level of 1855.0.

The 20-58 moving average forms a support level …

The pound against the dollar is back to test the resistance level 1.2590 again, as it opened today's trading positively, as it rebounded from the support level 1.2470 affected by the positivity of the stochastic indicator, which gives a bullish signal.

The moving average 50 is a resistance for the …

The EUR/USD pair returns to test the resistance level 1.0750 again, in an attempt to return to the bullish path again. This is supported by positive support from all technical indicators, as they are pressuring the price positively in order to break the mentioned resistance.

The continuation of trading above …

News of the day, Monday, June 6

European stocks are about to open higher on Monday as ECB is meeting soon to discuss monetary policy normalization. DAX futures traded 0.3% higher, CAC 40 futures were up 0.5%, and FTSE 100 futures climbed 0.7%.

The U.S. dollar decreased earlier today ahead …

#RWE

The general trend is ascendant. The share is traded inside the 365 and 135 EMA. The descendant wave structure is truncated. Awesome Oscillator indicates bullish divergence, and moving levels of Stochastic Oscillator have escaped the oversold area.

Trading idea:

Buy when the ascendant wave structure forms, where the wave …

The general trend is ascendant. The descendant truncated wave structure of the H4 level has finished breaching the inclined channel. Awesome Oscillator indicates bullish divergence.

Trading idea:

Buy when level 0.9642 is breached.

Stop-loss: 0.9544.

Target levels: 0.9750; 0.9870.

News of the day, Friday, June 3

European stock indices opened higher today: the DAX traded 0.3% higher, Euro Stoxx 50 increased 0.25%, and the CAC40 added 0.2%.

Oil drops as OPEC+ announced to increase production soon. Today, WTI crude traded 1.15% down, and Brent crude dipped 1.05%.

As Chinese …

Gold managed to break several levels of resistance yesterday, as it breached the level of 1855.0, then the level of 1860.00, and reached the target 1870.00. Therefore, gold activates the bullish scenario to reach the level of 1890.00. in the medium term.

The moving averages support the price to complete …

The price of the pound sterling against the dollar rose and paused at the resistance level  1.2590, which the price has been trying to breach since yesterday.

We notice that the stochastic indicator is giving a negative signal, as it forms a crossover between its lines above the 80 level, …

The euro against the dollar is trying to break the resistance level of 1.0750 and confirm the bullish movement, as it is testing the resistance level since the beginning of today's trading, and it is likely that it will be able to do so, and therefore it will launch on …