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The US dollar fluctuated in a narrow range slanting to an upside during the Asian session, to witness its rebound for the third session from its lowest since the tenth of March against the Japanese yen amid scarcity of economic data on Monday by the Japanese economy and the US economy, the largest economy in the world, and in light of market pricing due to the severity of the outbreak The second wave of the Corona virus, and US lawmakers reached an agreement on a relief package to confront the repercussions of the Corona pandemic.

At exactly 07:08 AM GMT, the US dollar against the Japanese yen rose by 0.06% to 103.46 levels compared to the opening levels at 103.40, after the pair achieved its highest level during the session's trading at 103.56, while it reached its lowest level at 103.25. , That the pair started the session on a rising gap, after ending last week’s trading at 103.30 levels.

Yesterday, the President of the US Senate and Republican Majority Leader Mitch McConnell reported that congressional leaders had reached an agreement regarding the $ 900 billion Corona pandemic relief bill, otherwise, we also followed yesterday the report that dealt with the outcome of the new monthly coronavirus cases that you witnessed. The Japanese capital, Tokyo, exceeds 10 thousand cases for the first time, according to Kyodo News.

Technical analysis

The dollar versus yen pair stabilizes below 103.65, and the SMA 50 represents continuous negative pressure against the price, which keeps our bearish expectations valid and effective for the upcoming period, with a reminder that we are waiting to visit 102.50 as a next target.

On the other hand, we should note that breaching 103.65 will stop the expected decline and push the price to turn higher in the intraday term, to initially visit 104.60.

The expected trading range for today is between 102.70 support and 103.80 resistance

The expected general trend for today: Bearish

Futures contracts for gold prices fluctuated in a narrow range slanting to an upward trend during the Asian session, to witness the highest since the ninth of November, overlooking the rebound of the US dollar index for the third session from its lowest since April 19, 2018 according to the opposite relationship amid scarcity of economic data today Monday by the US economy, the largest economy in the world, and amid market pricing for the severity of the second wave of the Coronavirus during the winter, and US lawmakers reached an agreement on a relief package to counter the repercussions of the Corona pandemic.

At exactly 05:15 a.m. GMT, gold futures contracts for next February delivery rose 0.48% to trade at $ 1,901.90 an ounce, compared to the opening at $ 1,892.90 an ounce, knowing that the contracts started the session on a rising price gap after the week's trading ended. The past was at $ 1,888.90 per ounce, while the US dollar index rose 0.34% to 90.46 compared to an opening at 90.15.

We have continued to keep the People's Bank of China (the Central Bank of China) on the basic lending rate for one year and five years unchanged at 3.85% and 4.65%, respectively, which came in line with expectations. American and Republican Majority Leader Mitch McConnell said that congressional leaders have reached an agreement on a $ 900 billion Corona pandemic relief bill.

This comes in conjunction with concern about the severity of the second wave of the Coronavirus during the winter and following the British government's warning that the new Coronavirus strain is "out of control". The British government also reported yesterday that there are still "major differences" in trade talks between the United Kingdom. And the European Union, less than two weeks before the end of this year and the deadline for Britain's exit from the European Union.

In the same context, some European countries have taken steps to limit travel to the United Kingdom in conjunction with the British government's request for more than 16 million Britons to stay in their homes with the entry into force of the complete closure in London and the southeast of England, and in Australia travel restrictions have been imposed to Sydney The densely populated country is no longer isolated from the rest of the country, amid the increasing cases of coronavirus in the country during recent times.

Yesterday we also followed up the report that touched on the fact that the number of new monthly coronavirus cases in the Japanese capital Tokyo exceeded 10 thousand cases for the first time, according to Kyodo News, and the new cases of coronavirus recorded in South Korea reached a new record according to the local news agency, which reflects that The situation of the Corona virus in parts of northern Asia is dangerous, which, in turn, affects investor sentiment.

Technical analysis

Gold price opens today's trading with a strong positive, to start testing the 1900.00 barrier, reinforcing expectations for the continuation of the main bullish trend, noting that we are awaiting further rise to visit 1912.50 then 1928.60 as next positive targets.

Thus, the bullish trend scenario will remain valid and effective for the upcoming period, supported by the positivity of the stochastic oscillator and the SMA 50, bearing in mind that the continuation of the bullish wave depends on stability above 1875.00.

The expected trading range for today is between 1880.00 support and 1928.00 resistance

The expected general trend for today: Bullish

The single currency, the euro, declined during the Asian session, to witness its retracement of the third session from its highest since April 23, 2018 against the US dollar amid scarcity of economic data on Monday by the economies of the euro area and the US economy, the largest economy in the world, and amid market pricing due to the intensity of the second wave of Corona virus outbreak During the winter, US lawmakers reached an agreement on an relief package to counter the repercussions of the Corona pandemic.

At exactly 06:28 a.m. GMT, the euro pair fell against the US dollar by 0.44% to 1.2183 levels, compared to the opening levels at 1.2237, which is the highest level for the pair during the session's trading, while the pair achieved its lowest level during the session's trading at 1.2179, knowing that, The pair started the session on a descending gap after ending last week’s trading at 1.2257 levels.

Yesterday, the President of the US Senate and Republican Majority Leader Mitch McConnell reported that congressional leaders had reached an agreement regarding a $ 900 billion Corona pandemic relief bill, and this came in conjunction with concern about the severity of the second wave of the coronavirus outbreak and in the shadow of the continued stalled trade talks between the Kingdom. The United States and the European Union are on the cusp of the deadline for Brexit by the end of this year.

Technical analysis

The EUR / USD pair succeeded in touching our awaited negative target at 1.2175 with the opening of trading today, and we notice that the SMA 50 meets with this support to add more strength to it, which supports the chances of bouncing up from these areas to resume the main bullish trend again.

Thus, we expect to witness positive trading in the upcoming sessions, with targets starting at 1.2300 then 1.2340, bearing in mind that a break of 1.2175 will pressure the price to test the support for the ascending channel at 1.2105 before returning to the upside again.

The expected trading range for today is between 1.2120 support and 1.2280 resistanc

The expected general trend for today: Bullish

The Australian dollar against the US dollar is trading with a noticeable negativity, to break the 0.7575 level and settle below it now, to complete the formation of a double top pattern. We expect it to push the price to achieve more decline today, targeting mainly the test of 0.7520.

Thus, the bearish bias will be likely during the upcoming sessions, noting that breaching 0.7595 will stop the negative scenario and push the price to resume the main bullish trend again.

The expected trading range for today is between 0.7500 support and 0.7600 resistance

The expected general trend for today: Bearish

Aeroflot stock stabilized in trading above the resistance level 68.30, thus confirming the continuation of the bullish path and the end of the descending wave.

The price is moving above the average level of 20-50 after it was able to breach it by the end of last week, which is moving near the support level 68.31 and pressures the price to continue rising.

The stochastic oscillator fell to the bottom after it was moving in an upward path, which coincides with a slight corrective price decline.

General path of movement: an upward path

The US dollar rose during the Asian session, to witness its rebound to the second session from its lowest since the tenth of March, while it is still in the process of its second weekly loss in a row against the Japanese yen, following the developments and economic data they followed on the Japanese economy, which included the decisions and directions of monetary policy makers at The Bank of Japan, on the cusp of economic developments and data expected today, Friday, by the US economy, the largest economy in the world, and amid looking for the approval of US lawmakers to stimulate new financial.

At 06:56 am GMT, the US dollar against the Japanese yen rose by 0.33% to 103.45 levels compared to the opening levels at 103.11, after the pair achieved its highest level during the session's trading at 103.49, while the lowest level was at 103.10.

We have followed up on the Japanese economy revealing the inflation data with the release of the annual reading of the national consumer price index, which showed the expansion of the deflation to 0.9% compared to 0.4% last October, and the annual reading of the same index excluding fresh food showed the expansion of the deflation to 0.9%. In line with expectations, compared to 0.7% in October.

In the same context, the annual reading of the consumer price index excluding energy and fresh food showed a widening contraction of 0.3% compared to 0.2% in October, and this came before we witnessed the decision of monetary policy makers at the Bank of Japan at the December 17-18 meeting. By keeping interest rates negative at 0.10%, which was in line with expectations.

We also followed up on the Bank of Japan's disclosure of the monetary policy statement, which included maintaining the commitment to directing the yield of 10-year government bonds at zero, and monetary policy makers reiterated that additional steps will be taken to monetary easing without hesitation if necessary, and attention is now turning to Actions of the press conference held by Bank of Japan Governor Haruhiko Kuroda to comment on the decisions and directions of the Bank of Japan.

On the other hand, investors are currently awaiting the US economy’s current account reading, which may reflect the widening of the deficit to $ 190 billion compared to $ 171 billion in the last second quarter, before we witness the release of the leading indicators reading, which may reflect slowing growth to 0.4 % Compared to 12.1% in October, leading to the Fed disclosure of the results of US banks' solvency tests.

We would like to point out that the second round of stress tests includes the results of more than 34 banks in the United States, including the banks that succeeded and failed to pass the tests in the first round, and this comes hours after the expiration of the activities of the Federal Open Market Committee meeting December 15-16 / Last Wednesday, during which interest rates were kept at the lowest ever, between zero and 0.25%.

It is noteworthy that the monetary policy makers at the Federal Reserve pledged last Wednesday to keep the interest on federal funds zero and to move forward with the bond-buying program, which is estimated at $ 120 billion per month at least, until employment goals are achieved and price stability is achieved, with the disclosure of the expectations of the members of the Federal Committee Growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

We would like to point out that Federal Reserve Governor Jerome Powell noted on Wednesday during the press conference he held after the end of the Fed’s meeting, that the case for financial stimulus is “very, very strong,” and came amid the market’s aspiration for US lawmakers to approve a new stimulus package to counter the negative repercussions of the severity of the outbreak. The second wave of Corona virus in recent times.

Technical analysis

The dollar versus yen pair is showing positive trading after it managed to touch our awaited target at 103.00, approaching a re-test of the previously breached 103.65 level, and as long as the price is below this level, our expectations for the downside will remain valid for the upcoming period, whose next target is at 102.50.

We point out that continuing to rise and breaching 103.65 will lead the price to achieve more gains and head towards testing 104.65 areas before any new attempt to decline.

The expected trading range for today is between 102.70 support and 103.80 resistance

The expected general trend for today: Bearish

Futures contracts for gold prices fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement of the second session from its highest since the ninth of November amid the bounce of the US dollar index for the second session from its lowest since April 19, 2018 according to the reverse relationship on the cusp of Economic developments and data expected today, Friday, by the US economy, the largest economy in the world, and amid the aspiration for the approval of US lawmakers to stimulate new financial resources.

At exactly 06:09 am GMT, gold futures contracts for next February delivery fell 0.20% to trade at $ 1,887.60 an ounce compared to the opening at $ 1,891.30 per ounce, knowing that the contracts started the session on a rising price gap after yesterday's trading was concluded At $ 1,890.40 per ounce, with the US dollar index rising 0.15% to 90.02 compared to the opening at 89.88.

Investors are currently awaiting the American economy to release the current account reading, which may reflect the widening of the deficit to the value of $ 190 billion compared to $ 171 billion in the second quarter, before we witness the release of the leading indicators reading, which may reflect a slowdown in growth to 0.4% compared to 12.1%. In October, leading to the Fed unveiling the results of US banks' solvency tests.

We would like to point out that the second round of stress tests includes the results of more than 34 banks in the United States, including the banks that succeeded and failed to pass the tests in the first round, and this comes hours after the expiration of the activities of the Federal Open Market Committee meeting December 15-16 / Last Wednesday, during which interest rates were kept at the lowest ever, between zero and 0.25%.

It is noteworthy that the monetary policy makers at the Federal Reserve pledged last Wednesday to keep the interest on federal funds zero and to move forward with the bond-buying program, which is estimated at $ 120 billion per month at least, until employment goals are achieved and price stability is achieved, with the disclosure of the expectations of the members of the Federal Committee Growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

In the same context, the Fed’s forecast for the growth rate of the largest economy in the world during the next year 2021 has been raised to 4.2% compared to the previous quarterly estimates of 4% growth and 3.2% growth from 3.0% in 2022, and the Federal Open Market Committee believes that unemployment rates may reach 6.7% by the end of 2020 compared to September's forecast of 7.6%, and it may decline to 5% in 2021 compared to previous estimates of 5.5%.

We would like to point out that Federal Reserve Governor Jerome Powell noted on Wednesday during the press conference he held after the end of the Fed’s meeting, that the case for financial stimulus is “very, very strong,” and came amid the market’s aspiration for US lawmakers to approve a new stimulus package to counter the negative repercussions of the severity of the outbreak. The second wave of Corona virus in recent times.

Technical analysis

Gold price confirmed the breach of 1875.00 after closing the daily candlestick above it, which supports the continuation of the bullish trend scenario in the intraday and short term, which is organized inside the bullish channel that appears in the image, waiting for a positive stimulus that will push the price to achieve our next targets that extend to 1917.00 and then 1928.60.

The SMA 50 continues to support the suggested bullish wave, keeping in mind that breaking 1875.00 will pressure the price to test 1843.40 areas before any new attempt to rise.

The expected trading range for today is between 1860.00 support and 1910.00 resistance

The expected general trend for today: Bullish

The single currency, the euro, fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement of the second session from its highest since April 23, 2018 against the US dollar on the cusp of economic developments and data expected on Friday by the economies of the euro area and the US economy, the largest economy in the world Markets are looking for US lawmakers to approve a new fiscal stimulus.

At exactly 06:33 AM GMT, the euro pair fell against the US dollar by 0.22% to 1.2241 levels compared to the opening levels at 1.2268, after the pair achieved its lowest level during the session's trading at 1.2239, while achieving its highest level at 1.2272.

The markets are currently looking forward to the largest economy in the euro area, Germany, the disclosure of inflation data, with the release of the producer price index reading, which is a preliminary indicator of inflationary pressures, which may reflect the stability of growth at 0.1% during November, while the annual reading of the same index may indicate a contraction of deflation. To 0.6%, compared to 0.7% in the previous annual reading for the month of October.

This comes before we also witness from Germany the release of the GFK consumer confidence index, which may reflect a contraction of the expansion to a value of 90.2 compared to 90.7 in November, leading to the release of the current account index reading for the economies of the euro area as a whole, which may show the surplus has shrunk to what Its value is 22.6 billion euros, compared to 25.2 billion euros last September.

Other than that, the markets are looking forward to the developments in the ongoing talks between the European Union and Britain regarding the issue of Britain's exit from the European Union, especially with the approaching deadline by the end of this year. The European Union said that an agreement may be reached between Brussels and London during the talks on Friday.

On the other hand, investors are currently awaiting the US economy’s current account reading, which may reflect the widening of the deficit to $ 190 billion compared to $ 171 billion in the second quarter, before we witness the release of the leading indicators reading, which may reflect a slowdown in growth to 0.4%. Against 12.1% in October, leading to the Fed's disclosure of the results of US banks' solvency tests.

We would like to point out that the second round of stress tests includes the results of more than 34 banks in the United States, including the banks that succeeded and failed to pass the tests in the first round, and this comes hours after the expiration of the activities of the Federal Open Market Committee meeting December 15-16 / Last Wednesday, during which interest rates were kept at the lowest ever, between zero and 0.25%.

Technical analysis

The euro against the dollar opened negative trading today after approaching the bullish channel resistance that appears on the image, heading towards making some temporary bearish correction, on its way to test the 1.2175 level before returning to rise again.

Therefore, the bearish bias will be likely for today, noting that the expected decline is temporary, awaiting the resumption of the main bullish trend, whose next target is at 1.2300, bearing in mind that a break of 1.2175 will pressure the price to make more bearish correction, whose next target reaches 1.2060 before Try to rise again.

The expected trading range for today is between 1.2160 support and 1.2320 resistance

The expected general trend for today: Temporarily bearish

The Australian dollar versus the US dollar begins today's trading with a noticeable negativity, approaching the test of the support floor that was formed at 0.7575 after it was previously breached, and we notice that the price is moving within the upside channels that appear on the image, which supports the chances of resuming the main bullish trend.

Therefore, we will continue suggesting the overall bullish trend, whose next target is at 0.7700, bearing in mind that breaking 0.7575 then 0.7510 will stop the expected rise and pressurize the price to achieve more decline and visit 0.7415 areas before returning to rise again.

The expected trading range for today is between 0.7540 support and 0.7670 resistance

The expected trend for today: overall bullish

Analytics based on price channels, Fibonacci levels, and modified wave analysis for the Smart Trading system.

AUDCHF

On the weekly timeframe, the bulls tested the upper border of the descending price channel and the mirror historic level 0.6750. Stochastic Oscillator signals an overbought condition.

On the D1 timeframe, D1 and D2 patterns are truncated. Both Awesome Oscillators show Bearish Divergence. Stochastic Oscillator signals an overbought condition.

The H4 level wave pattern also did not break through the 123.6% Fibo level (truncated). Awesome Oscillator shows a Bearish divergence, while the Stochastic Oscillator signals an overbought condition.

AUDCHF rate online: trade the AUDCHF currency pair.

Trading idea:

Sell on the formation of a downward wave pattern, where wave (A) breaks through the inclined channel of the ascending truncated pattern of the H4 level.

Stop Loss for the local maximum - 0.6750.

Since the entry point is C, it is necessary to set the first Take Profit at the 1:1 ratio (at the value of the stop order). You can set further targets on your own.