Mahmoud Abdallah

Mahmoud Abdallah
Published articles: 1781

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.

Snapshot

Latest 10 Articles

Friday showed the gold's instability, as it jumped to the $1814 resistance level, then quickly collapsed to the $1783 support and started this week around $1800.

For the fourth day in a row, the USD/JPY is undergoing profit-taking after its recent gains.

The GBP/USD was sold off at the end of last week, pushing the pair to the 1.3736 support level, and then rebound gains pushed it towards the 1.3835 resistance level, its highest in a month.

With the beginning of this week's trading, the EUR/USD is still stable around 1.1655, where it closed last week.

The recent decline of the US dollar allowed the price of gold to move higher and stabilize around the $1790 resistance level for 3 trading sessions in a row.

The British pound continues to rise, with only one loss out of the past five sessions.

The EUR/USD is still trying to rebound higher, but it is dominated by a cautious correction, as the euro is still suffering from weak investor sentiment.

The Japanese yen appears to be at the mercy of US inflation expectations, which means that current selling is likely to stop unless expectations of US interest rate hikes persist.

The bulls succeeded in pushing the price of gold towards the $1785 resistance yesterday, then retreating towards the $1767 support at the beginning of trading today before settling around $1776 as of this writing.

Risk appetite is not in favor of the safe-haven Japanese yen, which experienced sharp losses against the other major currencies.