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تحليلات الاسبوع- Forex Fundamental Analysis – S&P500 Ready to Set New Records

Forecast for the week from March 20th to March 24th:
 
XAU/USD:
In spite of positive US macroeconomic statistics USDX index closed previous week in red zone, which had a positive impact on precious metal quotes. What do we do with gold: sell or bu…

The post تحليلات الاسبوع- Forex Fundamental Analysis – S&P500 Ready to Set New Records appeared first on forexnewstoday.net.


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تحليلات الاسبوع- Forex Technical Analysis: Trend potential – Weekly Review. S&P500, Brent, gold

S&P500

 

Monthly chart: here situation doesn’t change. ADX is ramping up, oscillator is showing divergence, weekly upper Bollinger band (2427.6) is still not broken. All we are left to do is to look for possibilities on smaller time frames.

Weekly Review. S&P500, Brent, gold

Weekly chart: there is a strong valid resistance level around 2427.6 (upper Bollinger band). Both indicators are at their extremes causing start of downward rollback.

Weekly Review. S&P500, Brent, gold

Daily chart: we may already see first signs of coming reversal to the downside, however, we would not recommend selling – weekly upper Bollinger band is still rising. Considering that, we may expect another rebound from 2348.6 (lower Bollinger band)

Weekly Review. S&P500, Brent, gold

Expectations: drop to 2348.6 region followed by rebound towards 2427.6

Solutions:

1. Consider selling to 2348.6 region

2. Consider buying from 2348.6 to 2427.6 (in case of buy signals in 2348.6 region)

3. Consider setting sell limit orders in 2427.6 region

Brent

Monthly chart: we expect the price to test 48.79 region (middle Bollinger band). This support protects oil from falling to lower envelope. If oil reaches lower envelope region, it may start declining towards level of 35 dollars per barrel in mid-term (lower Bollinger band).

Weekly Review. S&P500, Brent, gold

Weekly chart: here we have Bollinger envelopes range (36.20-60.77) where the price is getting ready for drop to lower envelope and further decline in the future.

Weekly Review. S&P500, Brent, gold

Daily chart: here we have narrowed down flat corridor of 50.61-54.59 (lower Bollinger envelope), which is likely to be valid during this week.

Weekly Review. S&P500, Brent, gold

Expectations: flat at 50.61-54.59

Solutions:

1. Consider selling to 50.61

2. Consider buying from 50.61 to 54.59

3. Consider setting sell limit orders from 54.59 region

Gold

Monthly chart: there are no reasons for the price to stop rotation around middle Bollinger band (1195.07). Bollinger envelopes are steady, ADX shows weakening trend.

Weekly Review. S&P500, Brent, gold

Weekly chart: there is a valid trading area within Bollinger bands range (1122.00-1295.15)

Weekly Review. S&P500, Brent, gold

Daily chart: here we have a narrowed down flat corridor of 1195.07-1262.49. There is also local bearish Over&Under pattern in 1248.50 region. Considering this set-up, if the price will break to the downside, it may continue declining and may break support at 1195.07.

Otherwise, we may see rise to 1262.49.

Weekly Review. S&P500, Brent, gold

Expectations:

Core scenario – rise to 1248.50 region followed by decline towards 1195.07

Alternative scenario – upward breakout of 1248.50 and 1262.49 touch.

Solutions:

1. Consider selling from 1248.50 region with stop-loss above 1262.49 and take-profit at 1195.07

Weekly Review. S&P500, Brent, gold

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Saudization directly affects economic growth: Labor minister

Author: 
ARAB NEWS
Fri, 2017-03-24
ID: 
1490305505104668500

RIYADH: Ali bin Nasser Al-Ghafis, minister of labor and social development, said Saudization is one of the most important issues affecting the labor market because it is directly linked to economic growth and sustainable national development.
Speaking at the inauguration of the 9th Social Dialogue Forum, which brought together government representatives, workers and employers, Al-Ghafis said: “The Saudization we seek is a productive one, seeking to increase employment opportunities for male and female citizens in the private sector, boost their capacity and efficiency, and re-qualify them, if needed, in order to enable them to work and the country to rely on them as the most important pillars of construction and development. At the same time, this will help the country reduce dependence on foreign labor.”
Faisal bin Abdulrahman bin Muammar, secretary general of the King Abdul Aziz Center for National Dialogue (KACND), said the forum contributes directly to the dissemination of a culture of dialogue among all segments of society.
He said that “bringing the three components of the production sector under the umbrella of the KACND helps achieve a homogeneous vision, diagnose market challenges and eventually achieve a sustainable and productive Saudization.”
Forum participants also discussed the mechanism for selecting priority sectors for Saudization and the role of the public-private sectors partnerships in encouraging and supporting Saudis entering the labor market.
Forum participants also discussed the challenges that may face the Saudization process, proposed solutions, the expected economic and social impact of the program and procedures to be taken to achieve Saudization.
Employers’ representative Mansour Al-Shatri said, “The ministry was keen to hold continuous communication with the business sector to overcome all the obstacles to Saudization, and that it is performing continuous inspections to help maintain the success of the experiment.”
Workers’ representative Nidal Radwan said the dialogue among the parties involved in production is not a luxury, but an urgent requirement for the society, economic growth, and stability.

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GCC calls for closer economic cooperation with EU

Author: 
MOHAMMED RASOOLDEEN
Fri, 2017-03-24
ID: 
1490305505144668800

RIYADH: The GCC made a call for closer cooperation with the EU in its economic transformation plan at a meeting held at the GCC Secretariat here on Wednesday.
Abdel Aziz Aluwaisheg, assistant secretary-general for political negotiations and affairs of the GCC, made the call at the opening of a EU-GCC forum on the achievements and lessons learnt from EU integration held to mark the 60th anniversary of the Treaty of Rome.
The evening event was attended by EU and GCC ambassadors and other diplomats from various missions in the capital.
Aluwaisheg pointed out that the GCC countries have ambitious plans to diversify their economies to overcome the challenges. “We sincerely trust that the EU countries will cooperate with the GCC nations to help them utilize new revenues for government and turn them to a normal economy, which would lead them to better prosperity,” he added.
The EU-GCC cooperation, he hoped, would help maintain security and prosperity in the region.
Ambassador Michele Cervone d’Urso, head of the EU delegation headquartered in Riyadh, said: “We have invited EU ambassadors, together with the GCC (secretary-general), to celebrate the 60th anniversary of the treaty of Rome, which was signed by the six founding member states of the European Economic Community (Belgium, France, Germany, Italy, Luxembourg and the Netherlands), on March 25, 1957.”
He added: “The GCC member states are important strategic partners to the EU, the EU cares about these countries and their people and provides its political support to them. We want to further expand and consolidate our cooperation to bring our people, our civil society, our authorities and our governments closer together. This is what our aim is “promote mutual understanding and narrow the gaps.”
The EU and its member states are the world’s leading aid donors, providing more than half of total official development assistance in 2015.
“The European Union also stands ready to help those affected by natural and man-made disasters. Humanitarian crises continue to take a heavy toll internationally, and in 2016 the EU allocated relief assistance of over €1.5 billion for food, shelter, protection and health care to 120 million people in over 80 countries,” the EU head said.
In his speech, Italian Ambassador Luca Ferrari said: “The GCC, like the EU, is becoming a supranational institution, strongly contributing to the progress of its member states. And we have today a great opportunity to reflect and share our common experience.”

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History, food and live acts headline twin festivals

Author: 
Fouzia Khan
Fri, 2017-03-24
ID: 
1490305505004667800

JEDDAH: Two festivals —“Jeddah Food festival” and “Jeddah Historical Festival” — begin March 30 and run through April 8.
Adil A. Munief Mohammed Makki, chairman of the hospitality committee at the Jeddah Chamber of Commerce and Industry, told Arab News the food festival will be the most important event in the region and is expected to become an annual event with a mission to promote the Saudi
hospitality industry, attract foreign and local investments and support domestic
tourism.
He said more than 114 companies are participating. Foods such as Asian, Continental, traditional Arabic, along with other cuisines will be offered.
He also said there will be more than 35 different entertainment activities for families and children. The lineups include stand-up comedy, shadow theater, children’s contests, family contests, live cooking shows, children’s play area, games, a children’s theater, snow land, the world’s most famous chef and the Chinese kitchen.
Abdullah Saeed bin Dhawi, chairman of the executive committee of the Jeddah Historical Festival, said the Jeddah Historical Festival is supported by the General Authority for Entertainment and Jeddah Governorate.
Around 65 different activities for the historical festival are planned to entertain visitors, including a historical panorama screenplay where the 2,600-year history of the city to the period of King Abdul Aziz Al-Saud will be screened.
The festival will also feature games for all age groups, traditional food, simulation of archaeological sites with 5D virtual glasses, Hejazi folklore, theater, dances, a number of children’s programs and contests, museums, traditional coffee shops and food stalls and much more with a glimpse of history.
The 10-day festivals open every day after Asr prayer till late night.

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Ireland offers cooperation with Vision 2030

Author: 
FOUZIA KHAN
Fri, 2017-03-24
ID: 
1490305504944667500

JEDDAH: Irish Ambassador Tony Cotter, on the occasion of Ireland’s National Day celebration on Tuesday in Jeddah, expressed his country’s keenness to be part of Vision 2030. Irish expatriates, joined by Saudi and other guests, participated in the celebration at the Crowne Plaza hotel.
Cotter said Ireland and the Kingdom have a long-standing relationship, with trade increasing significantly in recent years, and currently at more than €1.5 billion ($1.6 billion).
He said more than 2,500 Saudi students are studying in Irish universities. “We are very proud to have these Saudi students studying in Ireland,” he said.
“Vision 2030 is a very ambitious program of development that the government is actively implementing. I wish the government every success. Ireland is very much available and willing to support it any way we can.”

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Saudi Air Defense System huge success against Houthi missiles

Author: 
MOHAMMED AL-SULAMI
Fri, 2017-03-24
ID: 
1490305505034668100

JEDDAH: The Air Defense System of the Arab Coalition Forces supporting the legitimacy in Yemen achieved several successes in downing ballistic missiles launched by Houthi militias and Saleh forces to target the Kingdom’s cities. The system also succeeded in protecting several liberated Yemen cities targeted by these missiles.
Houthi militias have launched dozens of rockets at populated areas in several Kingdom’s cities along the southern border, including Khamis Mushait, Jazan, South Dhahran, Najran, Taif and Makkah. However, all missiles have been downed before reaching their targets, with no human or financial losses in the process.
In Yemen, Houthi militias have continually targeted Marib and Taiz with ballistic missiles, the two provinces that witnessed violent resistance to rebels. These missiles were also destroyed before reaching their targets.
A UN report earlier confirmed that Houthi militias and forces of ousted leader Saleh have led a campaign to bomb Saudi Arabia since June 16, 2015. However, Air Defense forces of the Coalition were successful in monitoring and destroying missiles launched across the border.
The report stated that “ad hoc and inaccurately targeted missiles, which do not discriminate between civilian and military targets, are a violation of international humanitarian law.”
The Air Defense System is also continuing its tasks on the battleground, with its highly equipped and advanced force contributing to strengthening air control. The Patriot missile system, the most advanced in the world, is a powerful defense system against long-range missiles and war planes.
The system operates on sophisticated batteries, complex computer systems and thermal systems to down targets. Such advanced equipment, coupled with comprehensive training of personnel, has helped ensure efficient and effective performance, allowing forces to successfully defend the Kingdom’s towns and villages, as well as liberated Yemen cities from Houthi missiles.

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‘Low-tech’ terror threat in spotlight as Daesh claims London attack

Author: 
BEN FLANAGAN
Fri, 2017-03-24
ID: 
1490303611854472500

LONDON: Experts have warned of the threat posed by “low-tech” terror attacks, following Wednesday’s deadly rampage outside the UK Parliament and questions over another incident in Antwerp.
The London attacker — who mowed down two civilians with his car and stabbed a policeman before being shot dead — was on Thursday named as British-born Khalid Masood.
Daesh claimed responsibility for the attack in a statement issued by its Amaq news agency, but did not name Masood and gave no details.
“Masood was not the subject of any current investigations and there was no prior intelligence about his intent to mount a terrorist attack,” London’s Metropolitan Police said in a statement.
“However, he was known to police and has a range of previous convictions for assaults, including GBH (grievous bodily harm), possession of offensive weapons and public order offenses.”
Prime Minister Theresa May told Parliament the attacker had once been investigated by the MI5 intelligence agency over concerns about violent extremism, but was a peripheral figure. About 40 people were injured in the attack, of whom 29 remain in hospital, seven in critical condition.
Britain’s Foreign Secretary Boris Johnson said the fact that victims from the London attack came from 11 countries shows that “an attack on London is an attack on the world.”
Police arrested eight people at six locations in London and Birmingham in the investigation into the attack.
The bloodshed in London took place on the first anniversary of attacks that killed 32 people in Brussels, and resembled Daesh-inspired attacks in France and Germany where vehicles were driven into crowds.
Many have been shocked that the attacker was able to cause such mayhem in the heart of the UK capital equipped with nothing more than a hired car and a knife.
“This kind of attack, this lone-wolf attack, using things from daily life, a vehicle, a knife, are much more difficult to forestall,” Defense Minister Michael Fallon told the BBC.
Professor Lee Marsden, head of the School of Politics, Philosophy, Language and Communication Studies at the University of East Anglia, said there is a pattern of terror attacks launched with “whatever weapons are to hand.”
Marsden told Arab News: “It is the low-tech nature of this which is the concern — that there doesn’t need to be the level of sophistication that previous terror groups were able to employ.
“In one sense it’s less alarming because it was less sophisticated; on the other hand it does send out a message that individuals can inflict maximum damage with very limited resources.
“It’s the random nature of it which is an effective tool in terms of creating fear, and as a direct challenge to governments in the West about their ability to be able to protect their own citizens.”
Marsden said that Daesh’s claim that it was behind the London attack should be treated with caution.
“It’s really (a question of) whether Islamic State is orchestrating this or whether it’s just inspiring the attack,” he said.
“Daesh are masters of publicity and very media-savvy. And it costs them very little to claim (such attacks). This gives them publicity, notoriety, particularly at a time when they’re clearly on the back-foot and losing significant amounts of territory in Iraq. This deflects from that; it sends out a message… that they’re still very much in business.”
It emerged on Thursday that a man had been arrested after a car was driven at speed into a pedestrianized street in Antwerp, Belgium, forcing people to jump out of its path.
The car sped away in the Belgian port leaving no one injured, but prosecutors said police later arrested a man suspected of being the driver, naming him as Mohammed R., a 39-year-old French national of North African origin.
Antwerp police found knives in the vehicle and a canister containing an unknown substance that bomb disposal officers were checking, Belgian federal prosecutors’ office said in a statement.
The Belgian federal prosecutors did not give details of any motive but said they had been called in “based on all these elements and the events in London yesterday.”
A French source later told Reuters that authorities there believed the suspect had not been trying to hit anyone, but was probably drunk and trying to escape a police check.
— With Reuters

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Students shine with robotic talent

Author: 
ARAB NEWS
Fri, 2017-03-24
ID: 
1490304599194570500

JEDDAH: Participating in a talent competition at Jeddah Desalination Center was a proud moment for the New Al-Wurood International School (NAWIS) team this month.
The event was organized by the Education Ministry, wherein all Arab, British and American curriculum schools were invited to demonstrate their talents showcasing their art- and STEM-based projects relating to Saudi Arabia’s Vision 2030.
NAWIS was the only CBSE school participating in the multi-nationality event.
The project “E-Farmer” was prepared by students Senna Saju and Areesha Fatima from Grade VIII, using the robotic kit Ipitara, supervised by robotics trainer Rehana Fatima and Principal (Saudi section) Hanadi Sulaiman Al-Dhahiry.
The guidance of Principal and Assistant Academic Director Sreedevi Menon and Vice Principal (girls’ section) Bushara P. K. has led the robotics team to innovate new projects in their academics.
The project focused on developing robotic agricultural equipment in Saudi Arabia by replacing traditional farming and generating non-oil revenue, which is one of the goals of Vision 2030.
Viewers and judges applauded the project. Team NAWIS was felicitated with a memento, certificates and badges of Vision 2030.
The team was invited to the event by Samia, head of Talent schools, Jeddah, as the team impressed her at the RoboFest organized by NAWIS girls last month where Samia was the chief guest.

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