Mahmoud Abdallah

Mahmoud Abdallah
Published articles: 2236

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

In the middle of this week’s trading, gold tried to rebound higher, but its gains did not exceed the level of $1836.

After attempts to rebound higher with gains to the level of 1.0564, it returned to decline in its broader path down to the level of 1.0460 at the time of writing the analysis.

The pair was sold off, reaching 128.00.

Sterling fell strongly after the UK's headline CPI inflation recorded 9.0% yeary-on-year, lower than the 9.1% market had been expecting, but remarkably up from 7.0% recorded in March.

During the recent trading sessions, we noticed a rebound in the price of the euro currency pair against the dollar, EUR/USD, with gains to the resistance level of 1.0556.

As the performance of last week, the USD/JPY currency pair has been moving since the start of this week’s trading in a narrow range with an upward bias.

The British pound succeeded in achieving gains against the euro and the dollar after the release of British labor market statistics that revealed a strong jump in wages and a larger-than-expected drop in unemployment.

Gold futures have struggled for direction since this week's trading began as the Federal Reserve revealed its willingness to raise US interest rates as long as necessary to fight inflation.

For the second day in a row, the price of gold is trying to rebound higher to compensate for the losses of the recent selling operations, which drove it towards the support level of 1787 dollars per ounce.

Ahead of the release of a batch of important and influential British and US economic data, the GBP/USD exchange rate deepened in a downtrend for nearly a year.

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