Ihab Maximous is Forex technical analyst and stock market expert. Maximous is Certified Elliott Wave Analyst and is among the first in the Middle East to receive a certificate from Elliot Wave International website. Maximous is member of the American Association of Capital Market Experts and member of the Egyptian Association of Analytical Analysts.
Surprisingly, oil prices dipped last week from $53.10 a barrel to $49.30 today despite moving in an upside direction. This decline may provide a good buying opportunity in the coming hours, according to this analysis. As seen from the previous chart, oil is moving in a bullish direction over the long term as it breached the four-way trend line and is also moving
Dear reader, let us have a look at the DXY (Dollar index) ahead of the important events since we will witness the FOMC meeting minutes today and NFP data to be released tomorrow. Actually, the long-term overview looks constructive, as the bullishness remains in favor only over the long-term basis. With that in mind, long-term traders could buy U.S. dollar;
The AUDUSD pair has moved in a bearish mode since the beginning of 2018 where it declined from 0.8150 to 0.70000, losing 14% of its value against the Greenback. From a purely technical perspective, we do believe that a strong correction is presently under-preparation since the bearish actions seen during the period has traced a bullish harmonic pattern
The dollar Index moved in a bullish direction that lasted for two months, from September 21 until November 21, and then turned the bullish trend into a fluctuating trend forming a rectangular pattern that has continued to this day. In this article, we will present our view of the USD index in the coming days.The dollar Index rose strongly during 2018
The Japanese candlesticks differ in the currency market from the stock market, as the Forex market is not much subject to gaps like the stock market, so in this article we will discuss the most important and famous Japanese candlesticks. 1. Doji CandlesticksDoji candlestick pattern is known that the opening price is almost equal to the closing, where
The GBPUSD pair is currently moving in a bearish direction on the daily charts, noting that the pair has been on the rise since the ‘flash crash’ approaching the 1.30 psychological level, which may be crucial in its direction in the coming days.As depicted on the previous chart, the GBPUSD pair is moving below the ascending trend line and about to
I read in one of the articles that in order for the euro to move against the dollar by one point you have to have a trading volume worth 50 million dollars, so can you imagine dear reader how much money are in a single Engulfing Candlestick. Engulfing pattern is formed when a large candlestick eclipses or engulfs the previous candlestick, noting
The EURNZD pair is moving in uptrend on the one-hour time frame but most probably the pair will not continue its Bullish direction for many reasons.By examining the one-hour chart of EURNZD, we can observe that the pair is near resistance of Potential Reversal Zone of Gartley pattern. Also, the RSI indicator is heading towards overbought areas,
Since mid-2016, gold has been moving in a volatile direction, on the daily timeframe, but over the past few weeks prices have rallied significantly to reach $1,311 on Monday and is likely to provide an excellent selling opportunity in the coming days.According to the previous chart, gold is close to $1,345 and this level is very important as it corresponds
After the rapid movements of Ripple over the previous few days, it is quite important to analyze the digital currency to predict its price in the coming days. Ripple jumped nearly 50 percent in the last 20 days, rising from $0.3000 levels until $0.4500 today, and is on the threshold of strong resistance which if breached, could send the price strongly
The GBPUSD pair has been fallen sharply since March 10, based on the weekly charts, where the pair was at $1.3400 and today it is currently trading around $1.2700. Despite this strong decline, a buy order is better than a sell one. As seen from the previous chart, the candles are still moving above the upside trend line on the weekly timeframe. Although