Analytic reviews

The trading plan is drawn up using price channels and modified wave analysis for the Smart Trading trading system.

Costco Wholesale Corp. (NASDAQ)

#COST

The overall trend is upward. The stock is trading in the range of the lower border of the rising price channel. On the H4 timeframe, a Long-Legged Doji has formed. The descending pattern is truncated, and the Stochastic Oscillator signals an oversold condition.

Trading idea:

Buy on the formation of an upward wave pattern, where wave (A) breaks out the inclined channel of the downward pattern.

Stop Loss - 367.90.

The target level is 388.00.

The US dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its lowest since the ninth of November against the Japanese yen amid scarce economic data by the Japanese economy and on the cusp of economic developments and data expected today, Thursday, by the US economy, the largest economy in the world, and amid Markets are looking for US lawmakers to approve a new fiscal stimulus.

At exactly 06:52 am GMT, the US dollar against the Japanese yen declined by 0.12% to 103.35 levels compared to the opening levels at 103.47, after the pair achieved its lowest level in five weeks at 103.25, while it achieved its highest during the session's trading at 103.56 .

Investors are currently waiting for the US economy to see the release of the aid claims index reading for the past week on December 12th, which may reflect a decrease of 36 thousand requests to 817 thousand applications compared to 853 thousand applications in the previous reading, and the reading of continuous aid requests for the week may also appear. Last month, on the fifth of this month, there was a decrease of 159 thousand requests to 5,598 thousand applications compared to 5,757 thousand applications.

This comes in conjunction with the disclosure of housing market data, with the release of the housing starts index and the building permit index reading, and amid expectations that the building permits reading will reflect an increase to about 1.55 million permits, compared to about 1.54 million permits in October. Home start-ups were stable at around 1.53 million homes last November.

This also comes in conjunction with the disclosure by the largest industrial country in the world of industrial sector data, with the release of the Philadelphia Industrial Index reading, which may reflect a contraction of the expansion to a value of 20.1 compared to 26.3 in November. Otherwise, we followed a short while ago the end of the meeting. The Federal Open Market Committee December 15-16, during which interest rates were kept at an all-time low between zero and 0.25%.

In the same context, Fed Governor Jerome Powell yesterday, during the press conference held after the end of the Fed’s meeting, expressed the argument for a “very, very strong” financial stimulus, and it came amid markets looking for US lawmakers to adopt 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 the yen provided temporary positive trades yesterday and tried to breach 103.65, but we notice that the SMA 50 formed a strong resistance against the price, to bounce down and settle below the aforementioned level again, which keeps our bearish expectations valid for the coming period, targeting 103.00 levels Then 102.50 as next major stops.

In general, we will continue to suggest the bearish trend unless the 103.65 level is breached and stability above it.

The expected trading range for today is between 102.50 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 rebound from its lowest since the ninth of December, overlooking the decline of the dollar index to its lowest since April 20, 2018 according to the inverse relationship on the cusp of developments and expected economic data today Thursday by the US economy, the world's largest economy, and amid US lawmakers' approval to stimulate new fiscal stimulus.

At exactly 4:58 am GMT, the futures contract for gold prices for next February delivery decreased 0.02% to trade at $ 1,868.00 per ounce compared to the opening at $ 1,868.40 per ounce, knowing that the contracts started the session on a rising price gap after yesterday's trading was concluded. At $ 1,859.10 per ounce, while the US dollar index fell 0.14% to 90.13 compared to an opening at 90.26.

Investors are currently waiting for the US economy to see the release of the aid claims index reading for the past week on December 12th, which may reflect a decrease of 36 thousand requests to 817 thousand applications compared to 853 thousand applications in the previous reading, and the reading of continuous aid requests for the week may also appear. Last month, on the fifth of this month, there was a decrease of 159 thousand requests to 5,598 thousand applications compared to 5,757 thousand applications.

This comes in conjunction with the disclosure of housing market data, with the release of the housing starts index and the building permit index reading, and amid expectations that the building permits reading will reflect an increase to about 1.55 million permits, compared to about 1.54 million permits in October. Home start-ups were stable at around 1.53 million homes last November.

This also comes in conjunction with the disclosure by the largest industrial country in the world of industrial sector data, with the release of the Philadelphia Industrial Index reading, which may reflect a contraction of the expansion to a value of 20.1 compared to 26.3 in November. Otherwise, we followed a short while ago the end of the meeting. The Federal Open Market Committee December 15-16, during which interest rates were kept at an all-time low between zero and 0.25%.

On Wednesday, we followed up on the Fed’s monetary policy-makers’s pledge to keep interest on federal funds zero and to move forward with a bond-buying program estimated at $ 120 billion a month at least until employment targets are met and price stability is achieved, with the disclosure of FOMC’s expectations for rates Growth, inflation and unemployment as well as 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 Fed Governor Jerome Powell noted yesterday during his press conference after the Fed’s meeting ended, that the need 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 trading rebounded strongly after retesting the 1850.00 level yesterday, to gradually approach our first expected positive target at 1875.00, and the price moves within the bullish intraday channel that appears on the image, which supports the chances of surpassing the aforementioned level to achieve more positive targets that extend to 1902.00 Then 1928.60.

Therefore, we will continue suggesting the bullish trend for the upcoming period, provided that the price maintains its stability above 1856.00 and most importantly above 1833.00.

The expected trading range for today is between 1850.00 support and 1890.00 resistance

The expected general trend for today: Bullish

The single currency, the euro, fluctuated in a narrow, upward range during the Asian session, to witness its highest since April 25, 2018 against the US dollar on the cusp of economic developments and data expected today, Thursday, by the economies of the euro area and the US economy, the largest economy in the world, and amid the market's aspiration for the approval of legislators Americans to stimulate new finances.

At exactly 06:18 am GMT, the euro pair rose against the US dollar by 0.22% to 1.2227 levels compared to opening levels at 1.2200, after the pair achieved its highest level in more than two and a half years at 1.2235, while the pair achieved its lowest level during trading The session is at 1.2219.

The markets are looking forward by the Euro-zone economies to reveal inflation data, with the release of the final annual consumer price index reading, which may confirm a contraction of 0.3%, unchanged from what it was in the initial reading for last month and the previous annual reading for last October, as well as The core annual reading of the same index may confirm 0.2% growth as well, unchanged from the previous annual reading.

On the other hand, the markets are looking forward to the developments of 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, and we would like to point out that European Commission President Ursula von der Leyen said yesterday that the European Union is moving closer to Britain is in order to reach an agreement, and it is not sure of the final results of the ongoing talks.

On the other hand, investors are currently awaiting the American economy for the release of the aid requests index reading for the past week, on December 12th, which may reflect a decrease of 36 thousand applications to 817 thousand applications compared to 853 thousand applications in the previous reading. Continuing for the past week, on the fifth of this month, a decrease of 159 thousand requests to 5,598 thousand requests compared to 5,757 thousand requests.

This comes in conjunction with the disclosure of housing market data, with the release of the housing starts index and the building permit index reading, and amid expectations that the building permits reading will reflect an increase to about 1.55 million permits, compared to about 1.54 million permits in October. Home start-ups were stable at around 1.53 million homes last November.

This also comes in conjunction with the disclosure by the largest industrial country in the world of industrial sector data, with the release of the Philadelphia Industrial Index reading, which may reflect a contraction of the expansion to a value of 20.1 compared to 26.3 in November. Otherwise, we followed a short while ago the end of the meeting. The Federal Open Market Committee December 15-16, during which interest rates were kept at an all-time low between zero and 0.25%.

In the same context, Fed Governor Jerome Powell yesterday, during the press conference held after the end of the Fed’s meeting, expressed the argument for a “very, very strong” financial stimulus, and it came amid markets looking for US lawmakers to adopt 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 EUR / USD pair faced temporary negative pressure yesterday evening to attack 1.2145, but it quickly rebounded to settle at the 1.2200 barrier, noting that the price starts today with a new bullish tendency to confirm the continuation of the main bullish trend scenario, which targets 1.2300 as a next major station.

Thus, we await more incline during the coming sessions, supported by the EMA50, with a reminder of the importance of holding above 1.2145 to achieve the awaited targets.

The expected trading range for today is between 1.2145 support and 1.2300 resistance

The expected general trend for today: Bullish

Cisco share continues its upward movement after it managed to breach the resistance level 42.10 and stabilize above it during last week's trading.

Trading continues above the 20-50 moving averages as the price moves away from it, so we are likely to witness a downward correction in the price in conjunction with the price reaching the resistance.

The expected trading range is between 42.13 support and 45.25 resistance

The expected general trend for today: Bullish

The Australian dollar against the US dollar opened the trading day with new positivity, to breach the 0.7578 level and try to maintain it above it, reinforcing expectations for the continuation of the main bullish trend, approaching our first awaited target at 0.7600, and we expect the bullish tendency to continue heading towards 0.7700, which represents our next main target.

Thus, the positive scenario will remain valid and effective for the upcoming period, provided that the price maintains stability above 0.7520.

The expected trading range for today is between 0.7520 support and 0.7670 resistance

The expected general trend for today: Bullish

The trading plan was drawn up using the modified wave analysis for the Smart Trading trading system.

Ameren Corp. (NYSE)

#AEE

The overall trend is upward. The stock trades in a range of 365 and 135 moving averages. The downtrend pattern ended with the breakout of the inclined channel (aC), the breakout of the top (aC) formed an upward wave pattern within the general upward trend. Awesome Oscillator shows a Bearish divergence, while the moving averages of Stochastic Oscillator leave the oversold zone, directed upwards.

Trading idea:

Buy on the formation of an upward wave pattern - on the breakout of 79.61.

Stop Loss - 76.28.

Target levels - 85.44; 87.12.

Featured expert at Grand Capital - Evgeny Boguraev.

GBPJPY

The 88.2% Fibo level remains unbreached, which means that the ascending H1 level pattern is a wave (B) of the descending H4 level pattern. Awesome Oscillator shows a Bearish divergence, while Stochastic Oscillator signals an overbought condition.

GBPJPY rate online: trade the GBPJPY currency pair.

Trading idea:

Sell ​​on the formation of a downward wave pattern, where wave (A) breaks through the inclined channel of the ascending H1 level pattern.

Stop Loss for the base of the assumed А Н4 - 140.73.

Target levels - 138.29; 137.00.

If the level of 88.2% Fib. (140.23) is broken, then the upward pattern is NOT a wave (B), which means that it will NOT be wave (C) down. The trading plan will need to be canceled.

Featured expert at Grand Capital - Evgeny Boguraev.

EURUSD

The pair resumed growth following the Fed’s meeting, which weakened the outlook for the dollar amid the positive expectations of economic growth in the near future, while Jerome Powell confirmed the reglator’s intention to continue to pursue an ultrasoft monetary policy for a significant period of time.

Technical side:

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is above the 50% level and is approaching the overbought zone. Stoch are already in this zone.

EURUSD rate online: monitor the price movement in real time.

Trading recommendations:

The pair will continue to rise to the level of 1.2300.

Sber Bank shares are correcting the ascending path after reaching the resistance level 290.00 after the stock managed to breach the resistance 270.50 it reached last week and rebounded from it in a correction of the strong ascending path that was formed after the stock managed to breach the upper bound of the descending channel that it was moving Within it, after it broke through several resistance levels.

The price is moving above the moving averages 50-20-7. Therefore, the price confirmed the upside path, and we await a re-test of 290.00.

The current price action takes place between the support level 273.00 and the resistance level 290.00 over the intermediate period which will be the main targets of the price action.

General direction of movement: Bullish path