Forecast of dollar and gold markets / 60 seconds with financial markets today, February 20
According to Tejarat News, The price of the dollar Today it was recorded with a downward trend and the price of gold and coins was also decreasing. The stock market was also down today and did not fluctuate less than one percent with a negative slope in the past week.
Bitcoin downtrend
Some experts due to the downward signals in the weekly and monthly charts Bitcoin, They warn of the possibility of the currency falling below $ 30,000.
Experts predict the LFG (Logarithmic Fractal Growth) model, predicting that Bitcoin is on a downward trend. Also, according to historical data, the probability of this currency falling is not low.
In the weekly chart Bitcoin The relative resistance index is at 42 and has a downward trend. This could be a bad sign for the possibility of a further fall of bitcoin.
Also, the outflow of money from bitcoin has increased. The MFI is in the sell-off range and shows this.
In contrast to the downtrends, there are several indicators that have an upward outlook.
Bitcoin whales made big purchases in the recent fall of the currency, according to data analysts. Supporting bitcoin in the event of a fall can have a huge positive impact in the long run. Also on February 13, the amount of bitcoin held by exchange offices reached its lowest level in three years. The market is still bullish since March 2020, but be careful.
This article is merely a translation of an external report and should not be the basis for market participants’ decisions.
279 points drop in the stock index
Overall Index Exchange It started today positively, but at the end of trading, it dropped by 279 units and finally reached the level of 1,282,000 units.
Borzoo Haghshenas, a financial markets expert, says: “The capital market is waiting for the news of Borjam to find its way.”
Foreign Minister Amir Abdullahian also spoke about the situation in Borjam: “If the legitimate demands of Tehran are taken into account today, an agreement can be reached in Vienna.” From day one, Tehran has been determined to reach a good agreement. The Islamic Republic of Iran expects the European and Iranian parties to carefully consider Iran’s red lines and try, after years of inaction, to play an effective role in securing Iran’s legitimate rights as a party to the unilateral and illegal withdrawal of the United States.
Some political experts say the Borjam agreement is imminent and likely to be implemented next year.
A forecast of the stock market
Alireza Tajubar, a financial markets expert, told Tejarat News: “The stock market has gone through a severe and long-term process of corrosion and now it can not grow due to two ambiguities.”
“Nuclear negotiations and budget parameters are the main ambiguities,” he explains. Alongside them are problems such as the feed-in tariffs of petrochemical companies, government debt to companies, government bond issuance, and the 1401 budget deficit.
Tajbar continues: We are witnessing an atmosphere of distrust in the stock market. Growth and ascent cannot be expected until these problems and ambiguities are resolved. Because this distrust is the result of a 17 to 18 month market situation.
Referring to the negotiations, the financial market expert says: “Due to the opening of the nuclear negotiations, some banking and automotive stocks have taken a positive trend.” But transactions are still ambiguous.
According to Tajbar, building trust in the market does not take one to two weeks.
He continues: There is no incentive to sell in the market. Because stocks are at the price floor, they are in a good fundamental position, and on the other hand, world prices are at the historical ceiling.
Tajubar states: The price of the dollar will probably be stabilized in the range of 25 to 26 thousand tomans. For this reason, we do not expect prices to fall and the index to fall again.
He continues: “Unless liquidity enters the market, we should not expect continuous growth.” In addition, legal entities will become sellers in March, and investors will be more cautious.
Finally, he says: Therefore, we can not expect the stock market to grow in March. But the stock market will start to rise at the end of next year.
Slight decline in the overall stock index
According to the data of the Stock Exchange and Securities Company, today the total homogeneous index grew by 0.06% and reached the range of 325,083 units.
Today, traders made 347,159 trades worth 28,434 billion tomans in the capital market.
Reduction of gold and coin prices in the Iranian market
In the Iranian market today, gold and coins have been declining, which of course can be influenced by the positive news of the weekend of the Vienna talks.
According to the Tehran Jewelry Union, gold price Until 12:45 today, it has been one million and 184 thousand tomans.
Prices for coins The old plan was announced at 11 million and 700 thousand tomans today at 12 o’clock. The new design coin was traded for 11 million and 740 thousand tomans until 12:45.
Earlier, Ali Sadeghin, a financial market expert, told Tejaratnews that positive or negative news about the Vienna talks could have a significant impact on the Iranian gold and coin market.
Maryam Mohebbi, a financial markets expert, also believes that in the current situation and given the nuclear negotiations, it is very difficult to predict the short-term market for the dollar, gold and coins, but the price reduction in the market will probably be temporary.
Reducing the price of the dollar
also The price of the dollar Influenced by the positive news of the Vienna talks, it has reached 25,748 tomans.
The price of the dollar has been declining since last week. Today, February 20, the National Exchange announced the selling price of the dollar at 24,959 tomans (until 12:30 pm), which has decreased by about 200 tomans compared to the last price of the previous week.
What is the market for buying and selling dollars?
Despite the price trend Dollar It is declining, but some exchanges are currently refusing to buy or sell this currency. As some exchanges say, they will not do much trading until the final results of the negotiations are known. They see the transaction at this stage as a risk.
“At the moment, the price of the dollar is not stable, so I do not buy or sell,” an unofficial foreign exchange trader told TradeNews. Because now it is possible that prices will go up or down all at once.
“The government is trying to suppress the exchange rate for a short period of time through currency shocks or shocks from political decisions,” said a financial market expert.
Fardin Agha Bozorgi believes: considering the 94% loss, as much as we have foreign exchange resources will be spent on the government.
Regarding whether the downward trend of the foreign exchange market index will continue or not, he predicted that due to the upward trend of liquidity in the country, the dollar is expected to have a slow upward trend.
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