technical analysis

  1. syamfx2020

    Snowflake shares climb to new highs

    California based Cloud-based data warehouse firm Snowflake (NYSE: SNOW) shares climbed 16% on Thursday and reached to new highs. The software company reported the first earnings on Wednesday after it went public on Sept. 16. Shares of Snowflake began trading at an initial public offering price...
  2. syamfx2020

    DAILY MARKET REPORT - Friday, Dec 04, 2020

    The U.S. non-farm payrolls report is one of the most important data scheduled for release later today. The consensus is for a decrease of 469k non-farm payroll jobs, and for the unemployment rate to decrease to 6.8%. EQUITIES Global shares and US futures trading higher boosted by the positive...
  3. syamfx2020

    EURUSD Time for a retrace❓

    EURO was among the best-performer currency pair during this week and climbed to the highest level in two and a half years. While considering the recent bullish move I expect there is a chance for a retracement.
  4. syamfx2020

    DAILY MARKET REPORT - Thursday, Dec 03, 2020

    The British pound drops sharply against the EURO and the Australian dollar. Meanwhile, the Pound recovered from the early session losses against the US dollar. Overall, the momentum remains bearish throughout this week due to the post - Brexit uncertainty. On the other hand, UK shares surged for...
  5. syamfx2020

    DAILY MARKET REPORT - Wed, Dec 02, 2020

    EURO climbed to the highest level in two and a half years on Wednesday supported by the weaker dollar. The US dollar struggling to find an upside momentum as the risk sentiment in global markets improves over-optimism related to vaccine developments. EQUITIES Asian shares traded higher on...
  6. syamfx2020

    Development of the Oil market from pandemic’s lows

    Recently, crude oil prices enjoyed 4 consecutive week rally after upbeat vaccine news. The rally also supported by the Biden’s victory in the hopes that he will soon announce a large fiscal stimulus package that could support demand for oil. Development of the Oil market (Jan 20 – March 20)...
  7. syamfx2020

    DAILY MARKET REPORT - Tuesday, Dec 01, 2020

    Global stocks and Wall Street ended higher in November. The S&P 500 climbed 10.8% for the month, its biggest monthly gain since April. While the Dow has added almost 13% so far, which would be the best month since January 1987. The energy stocks in the S&P 500 ended November with an above 25%...
  8. syamfx2020

    DAILY MARKET REPORT - Monday, Nov 30, 2020

    Crude oil prices trading slightly lower on Monday ahead of OPEC two days of meetings that begin later today. The investors and traders eagerly waiting for the fresh updates whether the OPEC and other oil-exporting countries will extend large output cuts to balance global markets. OPEC+...
  9. syamfx2020

    Market Update - What is Happening?

    Lack of USD liquidity continues with Thanksgiving holiday while the commodity currencies, the Australian and New Zealand dollar surged to fresh session highs. On the other hand, GOLD and oil price trading unchanged due to shorted trading day.
  10. syamfx2020

    DAILY MARKET REPORT - Thursday, Nov 26, 2020

    Hello Everyone, Happy Thanksgiving Day! We expect Trading will be thinned out next two days and liquidity is expected to remain low as US financial markets are closed on Thursday and a half-day on Friday. EQUITIES Wall Street ended mixed on Wednesday. The Dow and S&P 500 retreated from the...
  11. syamfx2020

    DAILY MARKET REPORT - Wednesday, Nov 25, 2020

    Gold price slightly rebounded from the previous session lows. The yellow metal plunged more than 3% and closed to near $1800 on Tuesday. Moving ahead to the North American session, the gold investors and traders will keep an eye on the US GDP and durable goods data due later in the session...
  12. syamfx2020

    DAILY MARKET REPORT - Tuesday, Nov 24, 2020

    EURO rebounded from the previous session lows supported by the weaker US dollar and strong GDP data. The GDP grew by 8.5% in the last quarter, compared to a preliminary estimate of 8.2%. Meanwhile, Germany Ifo Business Climate dropped to 90.7 in November, from a 92.5 in the previous month but...
  13. syamfx2020

    GBP/USD: technical levels to watch this week

    GBP/USD trading near the supply zone 1.3390-1.3420. The key technical levels to watch: Resistance: 1.3400/10 and 1.3483 (September high) Support: 1.3340/20 and 1.3280
  14. syamfx2020

    DAILY MARKET REPORT - Monday, Nov 23, 2020

    The British pound climbed to fresh month high following the positive comments from UK finance minister Rishi Sunak. He said that a Brexit deal was still possible, and he also pledged to refrain from austerity measures in the next budget. Meanwhile, the U.K. signed an interim trade deal with...
  15. syamfx2020

    DAILY MARKET REPORT - Friday, Nov 20, 2020

    UK and Australia posted a strong retail sales report on Friday. ONS report showed the UK retail sales rose 1.2% on the month in October, down from 1.5% growth in September while online sales jumped by 52.8% and store sales were down by 3.3%. On the other hand, the retail sales in Australia...
  16. syamfx2020

    DAILY MARKET REPORT - Thursday, Nov 19, 2020

    "NVIDIA is firing on all cylinders, achieving record revenues in gaming, data center and overall," CEO, Jensen Huang said. NVIDIA (NASDAQ: NVDA) Q3 earnings exceeded Wall Street estimates. The California-based company posted record revenue of $4.73 billion for the last quarter, up 57% from...
  17. syamfx2020

    GBP/USD: Double top???

    GBP/USD fell 75 pips after it failed to break previous week high. If the bearish momentum continues the next levels to watch 1.32/1.3170. On the other side, break above the 1.3310 double top will open the doors to 1.3340/80.
  18. syamfx2020

    DAILY MARKET REPORT - Wed, Nov 18, 2020

    US Dollar Index dropped back to near the crucial support zone. The Index extends lower on Wednesday following the weaker-than-expected US retail sales figures. The greenback started this week on a Positive note but later retreated back to lower in response to optimistic news regarding the...
  19. syamfx2020

    DAILY MARKET REPORT - Tuesday, Nov 17, 2020

    The electric-car maker TESLA (NASDAQ: TSLA) shares climbed more than 11% in pre-market trading on Tuesday after the S&P global announced that Tesla will join the S&P 500 come Monday, Dec. 21. “Tesla will be one of the largest weight additions to the S&P 500 in the last decade, and consequently...
  20. syamfx2020

    key technical levels to watch this week

    Dollar Index Resistance: 92.40 and 92 Support: 93.20 and 93.90 EURUSD Support: 1.1760 and 1.1690 Resistance: 1.1890 and 1.1930 NZDUSD Support: 0.6820 and 0.6780 Resistance: 0.6900 and 0.6940 GOLD Support: 1860 and 1830 Resistance: 1910 and 1930 Read more-