Analytic reviews

The rise of the US dollar during the Asian session to witness its bounce for the second consecutive session from the lowest since October 10 against the Japanese yen amid the scarcity of economic data by the Japanese economy and on the cusp of developments and economic data expected today by the American economy, which includes the talk of members of the Committee Federalism for the open market and in the shadow of market pricing for the retreat of America and Iran from expanding engagement in the conflict between them.

At exactly 6:14 am GMT, the US dollar pair rose against the Japanese yen by 0.17% to 109.30 levels compared to the opening levels at 109.12, after achieving its highest level during the trading session at 109.32, while achieving the lowest at 109.01.

Investors are looking forward to the results of the speech of Fed member and Deputy Governor of the Federal Reserve Richard Clarda who will deliver a speech entitled "The American Economic Outlook and Monetary Policy" at the Council on Foreign Relations in New York, and this comes before we witness the issuance of the reading of aid requests for the week that ends in the fourth From January, which may reflect a decrease of 1 thousand requests to 221 thousand requests.

In the same context, the reading of the continuous benefit claims index for the week that ended on December 28 also showed a decline by 9 thousand applications to 1,719 thousand applications compared to 1,728 thousand applications, before we witnessed the dumping of another member of the Federal Committee, the governor of the Minneapolis Bank Federal Reserve Neil Kashari, opening speech at the Federal Reserve Regional Economic Conditions conference in Minneapolis.

To the talk of another member of the Federal Committee, New York Fed Governor John Williams, about targeting inflation at the Bank of England’s economic workshop in London, and that comes about a week after the minutes of the FOMC meeting held on December 10-11 December, by which he decided to keep interest rates at between 1.50% and 1.75% for the second meeting in a row.

We would like to point out, because Federal Reserve Governor Jerome Powell noted at the time during the press conference that the Fed’s meeting ended, that it is possible for the Federal Reserve to expand its activities to purchase short-term treasury bills if necessary to increase liquidity in the banking system, and this came In the wake of the October Treasury Department launching a $ 60 billion treasury bill program to purchase Treasury Bills per month.

Otherwise, yesterday we followed US President Donald Trump's response to the Iranian attack on the two Iraqi military bases hosting American and international coalition forces, with sanctions and not with violence, and in the coming period, Tehran has not issued any reports that it will respond with more than one of the ballistic missiles it launched from its lands on Two bases, Assad and Erbil, in response to the recent US air raid in Baghdad that resulted in the assassination of a commander of the Iranian Revolutionary Guards, Qassem Soleimani.

U.S. President Trump stated that no American was injured in the attack and that Tehran appeared to have retreated, with his announcement of Washington's intention to impose more sanctions on Iran and his emphasis on the importance of working to ensure that Tehran does not possess any nuclear weapon, calling on the international community to seek a new nuclear agreement. With Iran, adding that he would ask NATO to intervene in the Middle East and that his country possesses a strategic reserve of oil that sings it from the Middle East.

In the coming period, Iranian Defense Minister Amir Hatami yesterday said that the Iranian response will depend on what Washington will do and that it will be consistent with any reaction issued by the American side, explaining that his country is fully prepared to escalate in the event that America responds to Iran's recent attacks on the Assad and Erbil bases in Iraq, and this came in the wake of the announcement by Iranian Foreign Minister Mohammad Javad Zarif that the strikes "ended", explaining that Tehran, with this latest attack, responded to the killing of Soleimani.

Technical analysis

The dollar pair rose against the yen strongly yesterday, breaching the 108.40 level and reaching the outskirts of the 109.33 level, which provides signals on the price trend to achieve more expected gains during the upcoming sessions, noting that the breach of the last level will extend the upside wave to reach 110.50 as a next positive target.

On the other hand, we notice that the stochastic is showing negative signs that may pressure the price to fall again, therefore, we prefer stopping on the neutrality until the price confirms the breakout of the resistance 109.33 or the breaking of the 108.40 support to determine its next destination more accurately, while noting that breaking this support will put the price Under negative pressure again, heading towards 107.45 initially.

The expected trading range for today is between 108.40 support and 110.00 resistance.

Expected trend for today: neutral.

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session amid the negative stability of the US dollar index according to the inverse relationship between them after the economic developments and data that were reported by the Chinese economy as the largest consumer of metals globally and on the cusp of developments and economic data expected today Thursday by the US economy which It includes members of the Federal Open Market Committee in the shadow of market pricing that the United States and Iran have backed away from expanding engagement in their conflict in the Middle East.

At exactly 03:59 AM GMT, gold price futures for February delivery rose 0.10% to trade at $ 1,559.30 per ounce compared to the opening at $ 1,557.70 per ounce, knowing that the contracts started the session’s trading on a falling price gap after yesterday’s trading was concluded At $ 1,560.20 an ounce, while the US dollar index fell 0.01% to 97.27 compared to the opening at 97.28.

We have followed on from the Chinese economy to disclose inflation data with the release of the annual reading of the consumer price index, which reflected the stability of growth at 4.5% during December, without expectations that indicated 4.7% growth, while the annual reading of the producer price index, which is an initial indicator Under inflationary pressures, deflation contracted to 0.5%, compared to 1.4% last November, contrary to expectations that the contraction will decrease to 0.4%.

On the other hand, investors are looking forward to the results of the speech of the Federal Reserve Member and Deputy Governor of the Federal Reserve, Richard Clarda, who will deliver a speech entitled "The American Economic Outlook and Monetary Policy" at the Council on Foreign Relations in New York, and this comes before we witness the release of the index of subsidy requests For the week ending January 4, which may reflect a decrease of 1 thousand requests to 221 thousand requests.

In the same context, the reading of the continuous benefit claims index for the week that ended on December 28 also showed a decline by 9 thousand applications to 1,719 thousand applications compared to 1,728 thousand applications, before we witnessed the dumping of another member of the Federal Committee, the governor of the Minneapolis Bank Federal Reserve Neil Kashari, opening speech at the Federal Reserve Regional Economic Conditions conference in Minneapolis.

To the talk of another member of the Federal Committee, New York Fed Governor John Williams, about targeting inflation at the Bank of England’s economic workshop in London, and that comes about a week after the minutes of the FOMC meeting held on December 10-11 December, by which he decided to keep interest rates at between 1.50% and 1.75% for the second meeting in a row.

Other than that, we followed at the weekend of the Chinese newspaper, the Global Times, that the timing of the trade agreement between Washington and Beijing is not important and that the actual content of the first phase of the agreement and how to implement it is the most important at the moment, and this came in conjunction with the report that touched on the fact that a Chinese trade delegation intends Traveling to the United States by next Monday to sign the first stage trade agreement next week.

We would like to point out, since the price of gold ended yesterday its longest daily gains march in more than three decades after it tested a $ 1,600 per ounce barrier for the first time in seven years, and is currently preparing to end its longest weekly gains march in six months with a decline during this week for the first time In six weeks, in the wake of reduced concerns about geopolitical tensions in the Middle East, especially the outbreak of war between America and Iran.

Technical analysis

The price of gold achieved a significant decrease yesterday to test the pivotal support 1556.70, as it remains above it until now, accompanied by the entry of the stochastic indicator to the oversold areas in the sale, while the EMA50 continues to provide positive support for the price.

Consequently, these factors encourage us to favor a bullish bounce to resume the main bullish trend, whose next main target is located at 1617.00, noting that breaking 1556.70 will stop the expected rise and press the price to head towards 1488.00 areas before any new positive attempt.

The expected trading range for today is between 1550.00 support and 1580.00 resistance.

Expected trend for today: bullish.

The euro currency fluctuated in a narrow range tilted to the upside during the Asian session against the US dollar on the threshold of economic developments and data expected on Thursday by the euro area economies, which include the dumping of President Deutsche Bundesbank (German Central Bank) Jens Weidmann giving a speech under the title "Economy in a stage Transitional - Politics Required? In the Cologne Chamber of Commerce and Industry and on the cusp of developments and economic data expected by the American economy, which includes the speech of members of the Federal Open Market Committee.

At exactly 05:55 AM GMT, the euro pair rose against the US dollar by 0.12% to 1.1118 levels compared to the opening levels at 1.1105, after the pair achieved its highest level during the trading session at 1.1120, while it achieved the lowest at 1.1103.

The markets are currently looking to Germany, the largest economy in the eurozone, to disclose the current account reading, which may reflect the widening of the surplus to 23.8 billion euros against 22.7 billion euros last October, in conjunction with the release of the trade balance reading, which may also show the widening of the surplus. To 20.9 billion euros, compared to 20.6 billion euros in October, amid expectations for a decline in exports and a rise in imports in November.

This comes in conjunction with the issuance of the seasonally adjusted reading of the industrial production index also for Germany, which may reflect a 0.9% increase compared to a decline of 1.7% in October, before we witness from Italy the third largest economy in the region the release of the unemployment rates, which may show an increase to 9.8% Compared to 9.7% in October, leading to the release of the unemployment rates for the euro area as a whole, which may show stability at 7.5% during the month of November.

On the other hand, investors are looking forward to the results of the speech of the Federal Committee member and Deputy Governor of the Federal Reserve, Richard Clarda, who will deliver a speech titled "The American Economic Outlook and Monetary Policy" at the Council on Foreign Relations in New York, and this comes before we witness the release of the aid requests reading for the week Elapsed on the fourth of this month, which may reflect a decrease of 1 thousand requests to 221 thousand requests.

In the same context, the reading of the continuous benefit claims index for the week that ended on December 28 also showed a decline by 9 thousand applications to 1,719 thousand applications compared to 1,728 thousand applications, before we witnessed the dumping of another member of the Federal Committee, the governor of the Minneapolis Bank Federal Reserve Neil Kashari, opening speech at the Federal Reserve Regional Economic Conditions conference in Minneapolis.

To the talk of another member of the Federal Committee, New York Fed Governor John Williams, about targeting inflation at the Bank of England’s economic workshop in London, and that comes about a week after the minutes of the FOMC meeting held on December 10-11 December, by which he decided to keep interest rates at between 1.50% and 1.75% for the second meeting in a row.

We would like to point out, because Federal Reserve Governor Jerome Powell noted at the time during the press conference that the Fed’s meeting ended, that it is possible for the Federal Reserve to expand its activities to purchase short-term treasury bills if necessary to increase liquidity in the banking system, and this came In the wake of the October Treasury Department launching a $ 60 billion treasury bill program to purchase Treasury Bills per month.

Technical analysis

The EURUSD pair confirmed the breach of the bullish intraday channel support after the daily candle closed below it, which opens the way for the continuation of the bearish bias targeting the support of the main bullish channel at 1.1050, noting that we will be waiting for an upside bounce after visiting the mentioned support.

Thus, a bearish trend will be likely today unless the 1.1140 level is breached and stability above it, noting that a break of 1.1045 will press the price to achieve a further decline in the longer term.

The expected trading range for today is between 1.1030 support and 1.1180 resistance.

Expected trend for today: bearish.

Cisco's stock continues to move above the 46.89 support, which is the 61.8% Fibonacci retracement, having tested it several times and was unable to breach it.

Moving averages 20-50 form support levels near the previous level and shift prevented it from falling and breaching support.

The stochastic oscillator is moving in a sideways path after it had formed a negative crossover and is moving in a downward path.

The general direction of movement: sideway.

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce for the second session from the top since December 19 against the US dollar, following the economic developments and data that it had reported on the Australian economy and on the cusp of developments, data and developments expected Thursday by the American economy The largest economy in the world which includes the talk of members of the Federal Open Market Committee.

At 02:32 am GMT, the Australian dollar pair rose against the US dollar by 0.12% to 0.6874 levels compared to the opening levels at 0.6866, after the pair achieved its highest level during the trading session at 0.6881, while achieving the lowest at 0.6863.

We have followed on from the Australian economy the release of the Trade Balance Index reading, which indicated the widening of the surplus to 5.80 billion Australian dollars against 4.08 billion Australian dollars, which was adjusted from a surplus of 4.50 billion Australian dollars last October, exceeding expectations that indicated the widening of the surplus to An amount of A $ 4.10 billion.

On the other hand, investors are looking forward to the results of the speech of the Federal Committee member and Deputy Governor of the Federal Reserve, Richard Clarda, who will deliver a speech titled "The American Economic Outlook and Monetary Policy" at the Council on Foreign Relations in New York, and this comes before we witness the release of the aid requests reading for the week Elapsed on the fourth of this month, which may reflect a decrease of 1 thousand requests to 221 thousand requests.

In the same context, the reading of the continuous benefit claims index for the week that ended on December 28 also showed a decline by 9 thousand applications to 1,719 thousand applications compared to 1,728 thousand applications, before we witnessed the dumping of another member of the Federal Committee, the governor of the Minneapolis Bank Federal Reserve Neil Kashari, opening speech at the Federal Reserve Regional Economic Conditions conference in Minneapolis.

To the talk of another member of the Federal Committee, New York Fed Governor John Williams, about targeting inflation at the Bank of England’s economic workshop in London, and that comes about a week after the minutes of the FOMC meeting held on December 10-11 December, by which he decided to keep interest rates at between 1.50% and 1.75% for the second meeting in a row.

We would like to point out, because Federal Reserve Governor Jerome Powell noted at the time during the press conference that the Fed’s meeting ended, that it is possible for the Federal Reserve to expand its activities to purchase short-term treasury bills if necessary to increase liquidity in the banking system, and this came In the wake of the October Treasury Department launching a $ 60 billion treasury bill program to purchase Treasury Bills per month.

Technical analysis

The Australian dollar versus the US dollar is trading around the EMA50, and we are still waiting for a further drop to test the support of the bullish channel at 0.6790 as a next negative target.

Therefore, we will continue to favor the bearish trend for the upcoming period, noting that a break of 0.6920 will stop the expected decline and lead the price to head towards 0.7015 areas again.

The expected trading range for today is between 0.6800 support and 0.6920 resistance.

Expected trend for today: bearish.

The pair rests at the level of 1.1110 after a local decline due to falling tensions in the middle East. It can either turn up today if the level persists, or  break through and plummet following the publication of the US employment data on Friday.

The price is below the middle Bollinger band, at SMA 5 and below SMA 14. RSI moves horizontally above the oversold zone. Stoch are growing up.

Trading recommendations:

A drop below 1.1110 will lead to a local price drop to 1.1065. At the same time, if the price remains on the same level, there is a probability of a rebound to 1.1155.

The US dollar fell during the Asian session to witness its lowest level since the tenth of October against the Japanese yen after the developments and economic data that it had reported on the Japanese economy and on the cusp of developments and economic data expected on Wednesday by the American economy and in the shadow of markets pricing the growing tensions in the Middle East between Tehran and Washington against the backdrop of the recent American air raid in the Iraqi capital, Baghdad, that resulted in the assassination of the commander of the Quds Force in the Iranian Revolutionary Guard, Qassem Soleimani.

At 06:07 am GMT, the US dollar pair fell against the Japanese yen by 0.13% to 108.30 levels compared to the opening levels at 108.44, after achieving a three-month low at 107.65, while achieving its highest during the trading session at 108.52.

On the Japanese economy, we followed the disclosure of the consumer confidence index reading, which showed an increase to 39.1 compared to 38.7 in November, without expectations at 39.6. Otherwise, we followed yesterday, Japanese Finance Minister Taro Aso expressed that the overview of the situation The third largest economy in the world has not changed, despite the increasing downward pressures due to external factors, stressing that his country's economy is recovering at a moderate pace.

On the other hand, investors are looking for the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the acceleration of the pace of job creation to 160 thousand jobs compared to 67 thousand jobs in November, and that comes before we witness A recent Deputy Governor of the Federal Reserve and member of the Federal Open Market Committee of Elle Brenard at the Urban Institute in Washington.

Otherwise, we followed a short while ago the Pentagon stated in a statement that "Iran launched more than ten ballistic missiles against American and coalition forces in Iraq, and it is clear that these missiles were launched from Iran and targeted at least two military bases hosting military and personnel from The coalition forces in Assad and Erbil, "which reinforced concern about the growing tensions between Washington and Tehran and the outbreak of war between them.

It is reported that US President Donald Trump expressed last Monday that he would not allow Iran to possess nuclear weapons, and this came after Tehran announced Sunday that it will no longer adhere to the limits of uranium enrichment set forth in the 2015 nuclear agreement, which Washington withdrew unilaterally in 2018, as Trump threatened Recently, 52 sites in Iran were destroyed, including military and strategic sites, if Iran threatens his country's interests in the Middle East.

Technical analysis

The dollar versus yen pair opened today's trading with a strong drop to break the 108.40 level and approached the first negative target at 107.45, which stops the suggested positive possibility yesterday and leads the price to achieve more expected decline during the upcoming sessions, noting that a break of 107.45 will extend the downside wave to reach 106.30 In the short term.

Therefore, the bearish direction will be expected for today unless 108.40 then 108.60 levels are breached and stability is established above it.

The expected trading range for today is between 107.45 support and 109.00 resistance.

Expected trend for today: bearish.

Gold futures rose during the Asian session to witness the highest since March 22, 2013, condoning the rise of the US dollar index according to the inverse relationship between them on the threshold of developments and economic data expected today Wednesday by the US economy, the largest economy in the world, and with markets pricing the growing tensions in The Middle East between Tehran and Washington, against the backdrop of the recent American air raid in the Iraqi capital, Baghdad, that resulted in the assassination of the commander of the Quds Force in the Iranian Revolutionary Guard, Qassem Soleimani.

At exactly 04:45 am GMT, gold futures for February delivery rose 0.94% to trade at $ 1,593.70 per ounce compared to the opening at $ 1,578.80 per ounce, knowing that the contracts started the trading session on an upward price gap after it concluded yesterday's trading At $ 1,574.30 an ounce, while the US dollar index rose 0.11% to 96.94 compared to the opening at 96.83.

Investors are currently looking for the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the acceleration of the pace of job creation to 160 thousand added jobs compared to 67 thousand added jobs in November, and that comes before we witness Deputy Governor of the Federal Reserve Bank and member of the Federal Open Market Committee for Elle Brenard delivered a speech titled "Modernizing the Community Reinvestment Act" at the Urban Institute in Washington.

Otherwise, we followed a short while ago the Pentagon stated in a statement that "Iran launched more than ten ballistic missiles against American and coalition forces in Iraq, and it is clear that these missiles were launched from Iran and targeted at least two military bases hosting military and personnel from The coalition forces in Assad and Erbil, "which reinforced concern about the growing tensions between Washington and Tehran and the outbreak of war between them.

It is reported that US President Donald Trump expressed last Monday that he would not allow Iran to possess nuclear weapons, and this came after Tehran announced Sunday that it will no longer adhere to the limits of uranium enrichment set forth in the 2015 nuclear agreement, which Washington withdrew unilaterally in 2018, as Trump threatened Recently, 52 sites in Iran were destroyed, including military, cultural, and strategic sites, if Iran threatened its country’s interests in the Middle East.

On the other hand, we followed at the weekend of the Chinese newspaper, the Global Times, that the timing of the trade agreement between Washington and Beijing is not important and that the actual content of the first stage of the agreement and how it is implemented is the most important at the present time, and this came in conjunction with the report that touched on the fact that a Chinese trade delegation He plans to travel to the United States by next Monday to sign the first stage trade agreement next week.

It is reported that US President Trump announced last week, through his Twitter account via his official account on Twitter, that he will sign the first phase of the trade agreement with China on January 15 in the White House, stating that a high-level delegation will come from China to Washington to complete the agreement, adding that he would later go to China to start talks on the second phase of the trade agreement.

His Trump speech came in the wake of the report that touched on early last week that Chinese Vice Premier and Chief Commissioner Liu He would later head a high-level Chinese delegation to Washington, which strengthened expectations that it would be the one who would sign the first stage of the trade agreement. Between the United States and China, while the uncertainty surrounding the details of the agreement remains.

We would like to point out, because gold prices currently reflect the longest paths of daily gains for them in more than three decades with their rise for the eleventh day in a row, as well as the longest marches reflecting their weekly gains in six months with their rise for the sixth consecutive week during this week, after the expansion of central banks The major global policy of monetary easing and quantitative easing, including rate cuts, as well as geopolitical tensions.

Technical analysis

The price of gold opened today with a strong rise to approach our awaited target at 1617.00, and some bearish bias now appears affected by the stochastic negativity, pending the resumption of the upside that extends its objectives to reach 1675.00 in the near term.

Consequently, we will maintain our positive expectations for the coming period unless the 1556.70 level is broken and stability below it, noting that the demand for gold is rising due to political and military tensions in the Middle East.

The expected trading range for today is between 1575.00 support and 1620.00 resistance.

Expected trend for today: bullish.

The single currency fluctuated the euro in a narrow range slanted toward decline during the Asian session to witness its bounce to the fourth session in six sessions from its highest since the seventh of last August against the US dollar on the cusp of developments and economic data expected today Wednesday by the economies of the euro area and the American economy the largest economy in the world.

At 05:39 am GMT, the euro against the US dollar fell 0.03% to 1.1150 levels compared to the opening levels at 1.1153, after the pair achieved its lowest level during the trading session at 1.1145, while it achieved the highest at 1.1168.

Markets are looking for Germany, the largest economy in the eurozone, to release the factory orders reading, which may show a 0.3% increase compared to a 0.4% decline in October, while the annual seasonally adjusted reading may reflect a decrease in the decline to 4.7% against 5.5%, before we witness By France, the second largest economy in the region, the trade balance reading was released, which may reflect the widening deficit to 5.0 billion euros, compared to 4.7 billion euros in October.

On the other hand, investors are looking for the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the acceleration of the pace of job creation to 160 thousand added jobs compared to 67 thousand added jobs in November, and that comes before To witness the speech of Deputy Governor of the Federal Reserve and member of the Federal Open Market Committee of Elle Brenard at the Urban Institute in Washington.

Technical analysis

The EURUSD pair found strong ground when supporting the bullish intraday channel, and shows positive attempts supported by the current stochastic positivity, but SMA 50 constitutes a negative pressure that might hinder the price's mission by returning to trade above the 1.1180 level.

Therefore, we prefer stopping on the neutral until we get a clearer signal for the next direction, noting that a break of 1.1130 will press the price to continue the decline and visit the main support channel for the upside at 1.1045 as a next negative target, while a break of 1.1180 will lead the price to resume the main bullish trend whose target resides Next at 1.1320.

The expected trading range for today is between 1.1050 support and 1.1250 resistance.

Expected trend for today: neutral.

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its rebound from above since October 19 against the US dollar, following the economic developments and data that it had reported on the Australian economy and on the cusp of developments, data and developments expected on Wednesday by the largest US economy Economy of the world.

At exactly 03:43 am GMT, the Australian dollar pair rose against the US dollar by 0.01% to 0.6871 levels compared to the opening levels at 0.6870, after the pair achieved its highest level during the trading session at 0.6884, while achieving the lowest in three months at 0.6850 .

We have followed on from the Australian economy the release of the construction index reading by the Australian Industrial Group (AIG), which showed the contraction widened to 38.9 compared to 40.0 in November, and this came before we witnessed the disclosure of housing market data with the release of the building permits reading which showed an increase 11.8% against a decline of 7.9% in October, ahead of expectations that indicated a rise of 2.1%, while the annual reading of the same index showed the decline decreased to 3.8% compared to 22.9%, outperforming expectations that indicated a decline to 11.7%.

On the other hand, investors are looking for the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the acceleration of the pace of job creation to 160 thousand added jobs compared to 67 thousand added jobs in November, and that comes before To witness a speech from the Federal Reserve Governor and member of the Federal Open Market Committee to Elle Brenard, entitled "Modernization of the Community Reinvestment Act" at the Urban Institute in Washington.

Technical analysis

The Australian dollar versus the US dollar pair succeeded in achieving our first awaited target at 0.6870, and shows more negative trading to begin the pressure on the EMA50, reinforcing the expectations of the continuation of the downtrend during the upcoming sessions, where our next target is located at 0.6790.

Therefore, we await further decline today, with a reminder that the continuation of the descending wave depends on stability below 0.7015.

The expected trading range for today is between 0.6800 support and 0.6920 resistance.

Expected trend for today: bearish.