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The general trend is upward. The support level of 1.2672 holds back sellers. Breaking through the price pivot zone 1.2765 will result in the formation of an upward pattern as part of the overall upward trend. Awesome Oscillator indicator also shows a bullish divergence, while the Stochastic Oscillator indicates the exit from the oversold zone.

Trading recommendations:

Buy above 1.2765.

Stop loss - 1.2672.

Target levels - 1.2878; 1.3000.

When buying an option against a trend, it is necessary to confirm other technical analysis tools - the presence of divergence, candlestick reversal patterns. Buy against the trend strictly on the retest level! Buying an option before publishing important economic news is considered risky.   The expiration time depends on the strength of the level and confirmation by additional tools of technical and fundamental analysis.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness the highest level since December 19 against the Japanese yen following the speech of Bank of Japan Governor Haruhiko Kuroda in Tokyo, in addition to the developments and economic data that he reported on the Japanese economy and on the cusp of developments and economic data Expected Thursday by the US economy.

At 05:53 am GMT, the US dollar pair rose against the Japanese yen by 0.16% to 109.55 levels compared to the opening levels at 109.37 after the pair achieved its highest in a week at 109.57, while it achieved its lowest during the trading session at 109.33.

We have followed the speech of the Japanese Central Bank Governor Haruhiko Kuroda at the Japanese Businessmen Union meeting, and this came before we witnessed by the Japanese economy the disclosure of housing market data with the issuance of the annual reading of the index of start-up houses, which showed the widening of the decline to 12.7% compared to 7.4% in The previous annual reading of last October, worse than expectations, which indicated that the decline could be 7.9%.

We would like to point out that the Japanese Central Bank revealed last week a monetary policy statement that reflected the Bank of Japan’s offer of more flexibility in monetary policy while providing financing facilities for exchanged funds (ETF) with the aim of improving liquidity in the market of exchange-traded funds (ETF), and in In the same vein, the statement also touched upon at the time that "the economy was in the direction of moderate expansion".

The Bank of Japan also stated at the time through the monetary policy statement that the Japanese central bank “will take additional mitigation measures if there is a greater possibility of losing momentum towards achieving the goal of price stability.” This came after the Japanese government implemented in October increasing the consumption tax to 10 % Of 8%, which may weigh on consumer spending in the third largest economy in the world.

It is noteworthy that the Japanese government raised its growth forecast last week for the next fiscal year 2020/2021, which begins with the beginning of next April, to 1.4% compared to its previous forecast last July with a growth of 1.2%, while maintaining its expectations for growth during the current fiscal year, which expires with The end of next March is 0.9%, and this comes in the wake of the Japanese government's recent approval of a $ 122 billion financial package.

The expectations of the Japanese government that came after the progress in the trade talks between Washington and Beijing that resulted in a first-stage agreement between them and the decisive victory of British Prime Minister Boris Johnson in the British parliamentary elections, which limited Britain's chances of leaving the European Union without an agreement, included that private consumption will grow 0.6% In fiscal year 2019 compared to previous expectations 0.9% due to declining consumer confidence.

On the other hand, investors are currently awaiting by the US economy, the largest economy in the world, the release of the index of subsidy requests for the week that expires on December 21, which may reflect a decline of 12 thousand requests to 222 thousand applications compared to 234 thousand requests in the previous weekly reading, This comes amid the aspiration of the US Treasury to reveal its semi-annual report on economic policies and the international exchange rate.

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session to witness the highest since November 5, disregarding the US dollar index rebound to the second session from the lowest since the beginning of July, according to the reverse relationship between them on the threshold of the Governor of the Bank of Japan Haruhiko Kuroda in Tokyo and the expected economic developments and data today by the Japanese economy and its American counterpart.

At exactly 04:12 AM GMT, gold price futures for February delivery rose 0.27% to trade at $ 1,507.90 per ounce compared to the opening at $ 1,503.90 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded Tuesday's trading At $ 1,504.80 an ounce, while the US dollar index rose 0.01% to 97.64 compared to the opening at 97.63.

Investors are awaiting the results of the speech of the Governor of the Bank of Japan Haruhiko Kuroda at the Japanese Businessmen Union meeting in Tokyo. The markets are also looking to the Japanese economy, the second largest economy in Asia and the third largest economy in the world, to disclose housing market data with the release of the annual reading of the index of the beginning of construction, which It may reflect the breadth of the decline to 7.9% compared to 7.4% in the previous annual reading for October.

On the other hand, investors are currently awaiting by the US economy, the largest economy in the world, the release of the index of subsidy requests for the week that expires on December 21, which may reflect a decline of 12 thousand requests to 222 thousand applications compared to 234 thousand requests in the previous weekly reading, This comes amid the aspiration of the US Treasury to reveal its semi-annual report on economic policies and the international exchange rate.

Technical analysis

Gold price achieved a clear breach of 1489.00 level and settled above it, which stops the bearish corrective scenario and leads the price to return to the main bullish track again, on the way to achieve gains of up to 1556.70 in the short term.

Thus, the bullish trend will be favorable for today, supported by the move above SMA 50, indicating that the expected rise depends on stability above 1489.00 level.

The expected trading range for today is between 1490.00 support and 1520.00 resistance.

Expected trend for today: bullish.

The single currency fluctuated the euro in a narrow range slanting back down during the Asian session to witness its rebound to the fourth session in eight sessions from its highest since August 13 against the US dollar amid the scarcity of economic data by the euro area economies in the shadows of the end of the year and Christmas holidays there On the cusp of developments and economic data expected today, Thursday, by the US economy.

At 05:18 am GMT, the euro against the US dollar fell 0.03% to 1.1090 levels, compared to the opening levels at 1.1092, after the pair achieved its lowest level during the trading session at 1.1088, while achieving the highest at 1.1098.

Investors are currently awaiting by the American economy the release of the index of subsidy requests for the week that expires on December 21, which may reflect a decline by 12 thousand requests to 222 thousand applications compared to 234 thousand requests in the previous weekly reading, and this comes amid looking to reveal the Treasury The US report on its semi-annual report on economic policies and the international exchange rate.

Technical analysis

Major currency pairs continue to move along narrow paths, as the holiday season continues to affect trading volumes, and therefore, the scenarios proposed in our recent reports will remain.

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its stability near its highest since the 13th of the month, when it tested the highest since July 26 against the US dollar amid the scarcity of economic data by the Australian economy within the year-end holidays and birthdays On the cusp of developments and economic data expected today, Thursday, by the US economy, the largest economy in the world.

At 02:45 GMT, the Australian dollar pair rose against the US dollar by 0.09% to 0.6926 levels compared to the opening levels at 0.6920, after the pair achieved its highest level during the trading session at 0.6927, while achieving the lowest at 0.6918.

Investors are currently awaiting by the American economy the release of the index of subsidy requests for the week that expires on December 21, which may reflect a decline by 12 thousand requests to 222 thousand applications compared to 234 thousand requests in the previous weekly reading, and this comes amid looking to reveal the Treasury The US report on its semi-annual report on economic policies and the international exchange rate.

The overalll trend for the currency pair is upward. Round important level 1.2900 level holds back sellers. Breaking through the price pivot zone 1.3000 will result in the formation of an upward pattern 123. Awesome Oscillator indicator shows bullish divergence, while Stochastic Oscillator indicates oversoldness.

Trading recommendations:

Buy above the round important level of 1.3000.

Stop loss below the support level of 1.2900.

Target levels - 1.3100; 1.3220; 1.3507.

Gold prices are trading on the spot above the level of 1500.00. The reason for the growth is the speculation play against the major market players.

The price is above the upper border line of the Bollinger bands, above SMA 5 and SMA 14. RSI is in the overbought zone and indicates a weakening of the price growth. Stoch are also in this zone and not informative.

Trading recommendations:

A drop in the price below the 1500.00 mark may lead to a large-scale profit-taking and a and a further drop to 1491.00. If it stays above this level, there is a possibility of a growth to 1514.00.

The stock is trading flat in the upper bound range. The resistance level of 1800.0 holds back buyers. Breaking through the support level of 1784.0 will result in the formation of a descending pattern 123. Awesome Oscillator indicator shows bearish divergence, and the Stochastic Oscillator signals overboughtness. The trading plan for sale is still the same.

Trading recommendation:

Sell below 1784.0.

Stop Loss – 1800.00.

Target levels - 1769.0; 1747.0.

The pair is trading above 1.2900. Until the end of this year, as well as early next year, it will remain under pressure due to B. Johnson's determination to leave the EU in any case even without a deal, which is the reason for the weaker GBP rate.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is in the oversold zone and turns down. Stoch are growing.

Trading recommendations:
If the forecast remains the same, sell the pair after the price crosses the level of 1.2900 with a possible further drop to 1.2765..