Analytic reviews

The single currency, the euro, fluctuated in a narrow range that tends to rise during the Asian session, to witness its stability near its high in two and a half years against the US dollar on the cusp of economic developments and data expected today, Tuesday by the economies of the euro area and the US economy, the largest economy in the world, which includes the start of the committee meeting Federal Open Market December 15-16.

At exactly 06:58 AM GMT, the euro pair rose against the US dollar by 0.06% to 1.2151 levels compared to the opening levels at 1.2144, after the pair achieved its highest level during the session's trading at 1.2163, while the pair achieved its lowest level at 1.2143.

The markets are expecting France, the second largest economy in the region, to release the final reading of the consumer price index, which may confirm a growth of 0.2% during November and against stability at zero levels last October, before we see Italy, the third largest economy. The region released the trade balance reading, which may reflect a contraction of the surplus to 5.40 billion euros, compared to 5.85 billion euros last September.

On the other hand, investors in the US economy are awaiting the disclosure of the industrial sector data for the largest industrial country in the world with the release of the New York Industrial Index, which may reflect the stability of the expansion at a value of 6.3 during December, in conjunction with the release of the import price index reading, which It might show a 0.3% rise versus a 0.1% decline in October.

This comes, before we witness the release of the Industrial Production Index, which may reflect a slowdown in growth to 0.3% compared to 1.1% in October, in conjunction with the reading of the energy utilization rate index showing an increase to 73.1% against 72.8%, leading to the start of the FOMC meeting. The open December 15-16, during which interest rates are expected to remain between zero and 0.25%, amid hopes that the Fed will expand its asset purchase program.

Markets are also looking forward to tomorrow, Wednesday, after the Federal Reserve meeting, to reveal the committee members ’expectations of growth rates, inflation and unemployment in addition to the future interest rates for the next three years, half an hour before the press conference that Fed Governor Jerome Powell will hold tomorrow to comment on the decisions of monetary policy makers. To the Federal Reserve Bank.

Technical analysis

The EURUSD pair finds it difficult to reach the level of 1.2177 again, to show some bearish bias now, affected by the negativity of the stochastic indicator, and it may test the pivotal support floor 1.2110 before attempting to rise again.

So far, the main bullish trend scenario is still effective if the price remains above the aforementioned support, as breaking it will press the price to visit 1.2040 before any new positive attempt, while the breach of 1.2177 represents the key to the rally towards the main awaited positive station at 1.2300.

The expected trading range for today is between 1.2070 support and 1.2240 resistance

The expected general trend for today: Bullish

The Australian dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its rebound for the second consecutive session from its high since June 14, 2018 against the US dollar, after the Reserve Bank of Australia revealed the minutes of its last meeting and on the cusp of developments and economic data expected today, Tuesday, before The US economy is the largest economy in the world, which includes the start of the meeting of the Federal Open Market Committee.

At exactly 03:53 AM GMT, the Australian dollar against the US dollar fell 0.01% to 0.7534 levels compared to opening levels at 0.7535, after the pair achieved its lowest level during the session's trading at 0.7528, while it achieved its highest at 0.7546.

We have followed up on the Australian Central Bank disclosure of the minutes of its meeting held at the beginning of this month, during which the short-term reference interest rates were kept at their lowest ever 0.10%, which came in line with expectations at the time, and the minutes mentioned that "there will be The need for sustained policy support for a reasonable period, "and that" the extended period of high unemployment is on the horizons, the national priority to deal with. "

On the other hand, investors are awaiting the US economy to reveal the industrial sector data for the largest industrialized country in the world, with the release of the New York Industrial Index, which may reflect the stability of the expansion at a value of 6.3 during December, coinciding with the release of the import price index reading. Which may indicate a rise of 0.3% compared to a decline of 0.1% last October.

This comes, before we witness the release of the industrial production index, which may reflect a slowdown in growth to 0.3% compared to 1.1% in October, in conjunction with the reading of the energy utilization rate index showing an increase to 73.1% against 72.8%, leading to the start of the FOMC meeting. For the open market December 15-16, during which interest rates are expected to remain at the lowest ever, between zero and 0.25%.

Markets are also looking forward to tomorrow, Wednesday, after the completion of the FOMC meeting, to reveal the committee members ’expectations for growth rates, inflation and unemployment in addition to the future interest rates for the next three years, half an hour before the press conference that Fed Governor Jerome Powell will hold tomorrow to comment on the makers’ decisions. Monetary Policy of the Federal Reserve Bank.

Technical analysis

The Australian dollar against the US dollar opened the trading day with a noticeable decline, to break the 0.7520 level and try to stabilize below it, which puts the price under expected negative pressure during the upcoming sessions, on its way to test the 0.7460 level before returning to rise again.

Therefore, we expect to witness more decline today, noting that this decline is temporary, awaiting a rebound to the upside to resume the main bullish trend again, bearing in mind that breaking 0.7460 will extend the downside wave targeting 0.7355 before any new attempt to rise.

The expected trading range for today is between 0.7440 support and 0.7560 resistance

The expected general trend for today: Temporarily bearish

#ETN

The overall trend is upward. The assumed correction is approaching the lower border of the ascending price channel. Awesome Oscillator shows a Bullish Divergence, while the Stochastic Oscillator signals an oversold condition. A breakout of the upper border of the downward internal price channel will give an opportunity for growth in the range of the main upward price channel.

Trading recommendations:

Buy on the formation of an upward 1-2-3 pattern, where wave 1 breaks the upper border of the downward price channel.

Stop Loss below the local minimum.

Target levels - 119.40; 123.40.

GBPAUD

The overall trend is downward. The ascending H1 level pattern is truncated. Awesome Oscillator shows a Bearish divergence, while Stochastic Oscillator signals an overbought condition.

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

Trading recommendations: sell on the formation of a downward wave pattern, where wave (A) breaks through the inclined channel of an truncated upward pattern. 

Stop Loss for the local maximum (1.7770).

Target levels - 1.7500; 1.7430.

EURUSD

The pair is trading flat amid Brexit uncertainty, while investors await the Fed's monetary policy decision. Markets hope that tomorrow the regulator will come up with something to support the severely troubled American economy. But, if this does not happen, the dollar may be stimulated to grow.

Technical side:

The price is above the middle Bollinger band, below SMA 5 and above SMA 14. RSI is above the 50% level and is declining. Stoch turn up.

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

Trading recommendations:

If the pair falls below the level of 1.2135, we should expect it to fall to 1.2090.

EURUSD

Пара торгуется в «боковике» на фоне неопределенности итога выхода Британии из ЕС, а также в ожидании инвесторами решения ФРС по денежно-кредитной политике. Рынки надеются на то, что завтра регулятор что-нибудь придумает для поддержки испытывающей сильнейшие проблемы американской экономики. Но, если этого не произойдет и рынки постигнет разочарование доллар может получить стимул к росту.

Техническая картина:
Цена расположена выше средней линии индикатора Боллинджера, ниже SМА 5 и выше SMA 14. Индекс относительной силы RSI выше уровня в 50% и снижется. Stoch разворачиваются вверх.

Курс EURUSD онлайн: следите за движением цены в режиме реального времени.

Рекомендации по торговле:
Если пара снизится ниже уровня 1.2135, следует ожидать ее падения к 1.2090.

 #COG 

Support level 15.80 is holding back sellers. The descending structure was truncated and ended in breaking through an inclined channel. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator indicators crossed in the oversold range and directed upwards. 

Trading recommendations: 

Buy on the formation of an ascending structure - above 17.60. 

Stop Loss - 15.80.

Target levels - 20.27; 22.10.

XAGUSD

The overall trend is upward. Silver is trading in a range of 365 and 135 moving averages. The descending structure of the H1 level is truncated, while the Awesome Oscillator shows a Bullish divergence. A break through 24.08 will result in the formation of an upward wave structure of the M15 level within the frame of wave C of the upward structure of the H8 level. 

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

Trading recommendations:

Buy on the breakout of 08.24.

Stop Loss - 23.50.

Target levels - 24.73; 25.95.

GBPUSD

The pair rose sharply on Monday morning in the wake of a new short-term truce between the EU and Britain following a meeting this weekend. On this wave, it may continue to grow locally already amid new expectations for the Fed's decision on new fiscal stimuli that will weaken the US dollar.

Technical side:

The price is above the middle Bollinger band, above the SMA 5 and SMA 14. RSI is above the 50% level and is growing. Stoch is also growing steadily.

GBPUSD rate online:

Trading recommendations:

The pair may continue to rise to 1.3410, although in general it is likely to remain in a sideways trend.

Futures contracts for gold prices fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement of the fourth session from its highest since November 18, overlooking the decline of the US dollar index, indicating its stability near its lowest in two and a half years according to the inverse relationship between them on the cusp of developments And the economic data expected today, Friday, by the US economy, the largest economy in the world, and in the shadows of investor pricing to impose the approval of US lawmakers for a new stimulus package to face the repercussions of the Corona pandemic.
 
At exactly 05:28 am GMT, gold futures contracts for next February delivery decreased 0.16% to trade at $ 1,840.10 per ounce, compared to the opening at $ 1,843.00 per ounce, knowing that the contracts started the session on a rising price gap after yesterday's trading was concluded At $ 1,838.50 per ounce, while the US dollar index fell 0.12% to 90.65 compared to an opening at 90.75.
 
Investors are currently awaiting the US economy for the release of the producer price index reading, which is a preliminary indicator of inflation, which may show a slowdown in growth to 0.1% compared to 0.3% last October, while the core reading of the same index may indicate that growth accelerated to 0.3% compared to 0.1%. The annual reading of the index may reflect an acceleration of growth to 0.8% compared to 0.5%, and the core annual reading shows an acceleration of growth to 1.1% against 1.5%.
 
Up to the disclosure of the preliminary reading of the University of Michigan Consumer Confidence Index, which may show a contraction of the breadth to a value of 76.1 compared to 76.9 last November. From the Corona pandemic worth $ 916 billion and that it was discussed with senators from the Democratic and Republican parties.
 
This comes in conjunction with growing market expectations that the Federal Reserve will amend its directives regarding the asset purchase plan by next week during the FOMC meeting December 15/16 this December, and in the wake of the European Central Bank yesterday increasing the volume of purchases of the emergency program to combat the epidemic By 500 billion euros to 1,850 billion euros, as part of the efforts to confront the negative repercussions of the Corona pandemic.

Technical analysis

 
Gold price trading is confined between pivotal levels represented by support 1833.00 and resistance 1850.00, which keeps our neutral stance valid until now, waiting for the breach of one of these levels to define the next targets more clearly.
 
We point out that the price consolidation above the support of the bullish intraday channel and the rally to breach the resistance 1850.00 will lead the price to resume the bullish path, whose next targets are at 1870.00 and extend to 1900.00, while breaking 1833.00 represents a negative factor that will put the price under negative pressure targeting 1820.00 then 1807.00 as initial stops.
 
The expected trading range for today is between 1820.00 support and 1860.00 resistance
 
The expected trend for today: Neutral