Mahmoud Abdallah

Mahmoud Abdallah
Published articles: 1403

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

The decline of the US dollar and in US bond yields contributed to gold's gains that reached the $1749 resistance level and stabilized around $1745 at the beginning of trading on Wednesday.

For four trading sessions in a row, the GBP/USD has been moving in a narrow range between the 1.3668 support level and the 1.3776 resistance level.

The USD/JPY pair abandoned the 110.00 psychological resistance despite the positive US inflation numbers, retreating to the 109.00 support level as of this writing.

Risk appetite and a lull in the dollar's gains, despite the better-than-expected results of US inflation figures, contributed to more gains for the EUR/USD.

Gold futures fell to the support level of $ 1723 an ounce at the time of writing the analysis, after achieving modest weekly gains.

The psychological resistance 110.00 is still lacking the necessary momentum to return to the path of its ascending channel.

Although optimism remains about the distinctive British vaccination against the Corona virus and the implementation of the timetable for abandoning the restrictions,

For five trading sessions in a row, the price of the euro currency pair against the dollar, EUR / USD, is moving in a limited range.

Gold futures fell at the end of last week’s trading and settled around the $1732 level after gains boosted it to $1758, its highest in a month-and-a-half.

At the end of last week’s trading, and amid continuous positive results of US economic data, the USD/JPY tried to correct upwards and failed to breach the psychological resistance of 110.00 again.