Mahmoud Abdallah

Mahmoud Abdallah
Published articles: 395

About Mahmoud Abdallah

Mahmoud has been working fulltime in the Foreign Exchange markets for 12 years. Offers his analysis, articles and recommendations at the most renewed Arabic websites specialized in the global financial markets, and his experience gained a lot of interest among Arab traders. Works on providing technical analysis, market news, free signals and more with follow up for at least 12 hours a day, and aims to simplify forex trading and the concept of trading for his audience.

Latest 10 Articles

The struggle of safe heavens appears evident in the performance of the USD/JPY pair.

In the beginning of trading this week, gold prices moved strongly towards the top, recording the $1588 resistance, the highest level in more than two weeks, before stabilizing around $1580 at the time of writing.

The GBP/USD price is trying hard to avoid a drop below the 1.3000 psychological support to avoid more selling.

The strength of the US dollar, as investors took it as a safe haven in light of fears of a virus epidemic, along with a lower-than-expected reading of the German business climate IFO index, put pressure on the EUR/USD pair to retreat to the 1.1009 support, its lowest level in nearly a month.

There is no doubt that the Japanese yen is one of the most popular safe-haven assets for investors in times of uncertainty, and the US dollar is behind it in this regard.

At the beginning of the Corona virus crisis, the price of gold was not much interested in the event, which explains the movement of the gold price in narrow and limited ranges between 1568 and the $1546 support.

The British Pound showed great resistance against the recent strength of the US dollar.

EUR/USD attempts for a bullish correction collapsed during the past week’s trading, with investors returning to buy the dollar as a safe haven amid risk aversion.

Despite the improvement in the reading of the ZEW index of German economic sentiment to the highest level since 2015.

Gold prices witnessed fluctuation in performance during yesterday's session between the $1569 resistance and a rapid decline.