Analytic reviews

Cisco stock is moving at 43.88 level near the lower bound of the descending channel within which the price is moving

As the price moves below the moving averages 7-20-50 and stability in movement below these averages is a key factor for the continuation of the downward movement.

Stochastic is on an upward trajectory thus increasing the strength of the support level 43.88 and pushing price ills to try to rise again.

The general direction of the movement: bearish.

The Australian dollar versus the US dollar pair resumed its positive trades to move away from the EMA50, reinforcing the expectations of the continuation of the bullish trend over the immediate and short term, and the path is open to achieving our main awaited target at 0.7015, noting that the continuation of the bullish wave requires stability above 0.6765.

The expected trading range for today is between 0.6840 support and 0.6940 resistance.

Expected trend for today: bullish.

The pair will either continue to grow or turn downwards today based on the ECB meeting results. An abandonment of the ultra soft monetary policy announced by Mario Draghi will trigger growth. At the same time, if this policy is maintained, the pair may reverse and resume the decline.

The price is at the upper Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone and indicates a weaker growth. Stoch are still rising, entering the overbought zone.

Trading recommendations: 

Buy the pair after it breaches 1.1145 following the positive news from the ECB meeting, then heads to 1.1180 and then further up to 1.1230. In the opposite scenario, if the bank decides to keep the economic stimulus measures in full volume, sell the pair with a local target of 1.1050

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session amid the decline of the US dollar index for the eighth session in nine sessions from its highest since October 15, according to the inverse relationship between them on the cusp of developments and economic data expected today Wednesday by the US economy These include the decisions and directions of the Federal Reserve's monetary policy makers and the Federal Reserve Governor Jerome Powell's press conference, amid investors' pricing of developments in the trade war between Washington and Beijing.

At exactly 03:20 am GMT, gold futures for February delivery rose 0.01% to trade at $ 1,468.60 per ounce compared to the opening at $ 1,468.50 per ounce, knowing that the contracts started the trading session on an upward price gap after yesterday's trading was concluded At $ 1,468.10 per ounce, with the US dollar index down 0.01% to 97.50 compared to the opening at 97.51.

Investors are awaiting by the US economy to disclose inflation data with the release of the consumer price index, which may reflect a slowdown in growth to 0.2% compared to 0.4% last October, while a substantial reading of the same indicator may show stability in growth of 0.2%, while The annual reading of the index may indicate acceleration of growth to 2.0% compared to 1.8%, and the substantial annual reading of the index may reflect the stability of growth at 2.3%.

This comes in conjunction with the activities of the Federal Open Market Committee meeting held in Washington, through which it is expected to remain on the short-term benchmark interest rates for the second consecutive meeting at between 1.75% and 2.00%, while revealing the expectations of the members of the committee for the rates of growth, inflation and unemployment. In addition to the future of interest rates for the next three years.

Up to the press conference that Fed Governor Jerome Powell will hold about half an hour after the FOMC meeting ends to comment on the Fed’s policy makers ’decisions that have been witnessing widespread criticism by US President Donald Trump who is asking the Federal Reserve and his Governor Powell to move forward in Reducing interest on federal funds "to zero or less".

Otherwise, tomorrow (Thursday) markets are looking to the ECB meeting, during which the monetary policy makers of the European Central Bank will decide to maintain interest rates at their current zero levels and stabilize the marginal lending rate at 0.25% in addition to maintaining the interest rate on negative deposits. -0.40% and proceed with the quantitative easing program at 20 billion euros per month, as long as necessary.

This comes before we also witness Thursday the European Central Bank Governor Christine Lagarde’s press conference, which is her first press conference after she took over from former Governor Mario Draghi at the beginning of last month, and in conjunction with the parliamentary elections in Britain, which may directly reflect on the exit file. The United Kingdom from the European Union at the preset date with the end of next January.

Looking at the developments of the trade war between the two largest economies in the world, we followed yesterday. White House Economic Adviser Larry Kudlow expressed that Washington's activation of customs tariffs, adding 15% to Chinese goods valued at $ 156 billion by next Sunday, is still "on the table", and this came after The Wall Street Journal also reported yesterday that the United States plans to delay the imposition of additional fees as part of the efforts of the parties to reach an agreement.

Technical analysis

The narrow range continues to dominate gold price trades, which is moving within the ascending sub channel that forms a potential bearish continuation flag pattern, noting that the stochastic is providing a negative cross signal now, which constitutes a negative incentive that we expect will contribute to pushing the price to resume the bearish trend whose targets begin at 1447.00 extends to 1413.10, while stability below 1467.00 represents the first condition for achieving the proposed targets.

The expected trading range for today is between 1445.00 support and 1470.00 resistance.

Expected trend for today: bearish.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session against the Japanese yen following the developments and economic data that it followed from the Japanese economy and on the cusp of developments and economic data expected on Wednesday by the US economy, which includes the decisions and directions of monetary policy makers at the Federal Reserve and the press conference of the governor Federal Reserve Jerome Powell in Washington.

At 05:51 am GMT, the US dollar pair rose against the Japanese yen by 0.03% to 108.75 levels compared to the opening levels at 108.72, after the pair achieved its highest during the trading session at 108.85, while achieving the lowest at 108.67.

We have followed about the Japanese economy, the third largest industrialized country globally, the Bank of Japan revealed the manufacturing business statistics, which showed that the contraction widened to 7.8 compared to 0.2 in the past third quarter, contrary to expectations that indicated a expansion of 0.2 value, while reading the business sector statistics for the whole The industry contracted by a value of 6.2 compared to a expansion of 1.1 in the third quarter.

This came with the disclosure of inflation data with the release of the producer price index, which is an initial indication of inflationary pressures, which showed a slowdown in the pace of growth to 0.2% compared to 1.1% last October, outperforming expectations that indicated a slowdown in the pace of growth to 0.1%, while The annual reading of the same index showed a 0.1% growth versus a 0.4% contraction, also outperforming expectations for stability at zero levels.

On the other hand, investors are anticipating the US economy to disclose inflation data with the release of the consumer price index, which may reflect a slowdown in growth to 0.2% compared to 0.4% in October, while a substantial reading of the same indicator may show stability in growth of 0.2%, While the annual reading of the index may show accelerated growth to 2.0% compared to 1.8%, the fundamental annual reading of the index may reflect the stability of growth at 2.3%.

This comes in conjunction with the activities of the Federal Open Market Committee meeting held in Washington, through which it is expected to remain on the short-term benchmark interest rates for the second consecutive meeting at between 1.75% and 2.00%, while revealing the expectations of the members of the committee for the rates of growth, inflation and unemployment. In addition to the future of interest rates for the next three years.

Up to the press conference that Fed Governor Jerome Powell will hold about half an hour after the FOMC meeting ends to comment on the Fed’s policy makers ’decisions that have been witnessing widespread criticism by US President Donald Trump who is asking the Federal Reserve and his Governor Powell to move forward in Reducing interest on federal funds "to zero or less".

Technical analysis

The dollar versus yen pair shows a slight bullish tendency to test SMA 50, noting that the stochastic continues to move at the overbought areas, to form a negative stimulus that we expect to contribute to pushing the price down.

Therefore, we will continue to favor the bearish trend over an intraday and short term unless the price rushes to breach 109.33 level and stability above it, noting that breaching 108.40 is required to reinforce chances of heading towards our next main target located at 107.45.

The expected trading range for today is between 107.80 support and 109.33 resistance.

Expected trend for today: bearish.

The fluctuation of the single currency, the euro, in a narrow range slanted toward decline during the Asian session, to witness its bounce back for the third session in six sessions from its highest since last November against the US dollar, amid the scarcity of economic data by the euro area economies and on the cusp of developments and economic data expected today Wednesday by the US economy, which includes the decisions and directions of monetary policy makers at the Federal Reserve and the Federal Reserve Governor Jerome Powell's press conference in Washington.

At exactly 04:53 AM GMT, the euro against the US dollar fell 0.02% to 1.1090 levels compared to the opening levels at 1.1092, after the pair achieved its lowest level during the trading session at 1.1089, while achieving the highest at 1.1096.

Investors are awaiting by the US economy to disclose inflation data with the release of the consumer price index, which may reflect a slowdown in growth to 0.2% compared to 0.4% last October, while a substantial reading of the same indicator may show stability in growth of 0.2%, while The annual reading of the index may indicate acceleration of growth to 2.0% compared to 1.8%, and the substantial annual reading of the index may reflect the stability of growth at 2.3%.

This comes in conjunction with the activities of the Federal Open Market Committee meeting held in Washington, through which the expected short-term benchmark interest rates for the second consecutive meeting will be maintained at between 1.75% and 2.00%, while revealing the expectations of the members of the committee for the rates of growth, inflation and unemployment. In addition to the future of interest rates for the next three years.

Up to the press conference that Fed Governor Jerome Powell will hold about half an hour after the FOMC meeting ends to comment on the Fed’s policy makers ’decisions that have been witnessing widespread criticism by US President Donald Trump who is asking the Federal Reserve and his Governor Powell to move forward in Reducing interest on federal funds "to zero or less".

Technical analysis

The euro against the dollar made a further rise yesterday to approach the pivotal resistance level of 1.1108, and we notice that the price starts the day with a downward slope in a sign of the resumption of the expected downside trend for the coming period, supported by the stochastic negativity that appears through the four-hour time frame.

Thus, we believe that the field is open for trading negatively today, noting that we are waiting for targeting the levels of 1.0995 then 1.0950 mainly, while stability below 1.1108 is an important condition for the continuation of the expected decline.

The expected trading range for today is between 1.1000 support and 1.1140 resistance.

Expected trend for today: bearish.

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session against the US dollar, following the developments and economic data that it followed from the Australian economy and on the cusp of developments and economic data expected on Wednesday by the American economy, which includes the decisions and directions of monetary policy makers at the Federal Reserve and the press conference of the governor Federal Reserve Jerome Powell in Washington.

At 02:24 am GMT, the Australian dollar pair rose against the US dollar by 0.03% to 0.6811 levels compared to the opening levels at 0.6809, after the pair achieved its highest during the trading session at 0.6816, while achieving the lowest at 0.6805.

On the Australian economy, we followed the disclosure of the Weissback consumer confidence index, which showed a decline of 1.9% to 95.1 compared to a rise of 4.5% at 97.0 last November, and this comes hours after Reserve Bank of Australia Governor Philip Liu expressed his The fact that many citizens in his country have high debts, which may make spending take a longer time, explaining that the recent weakening of consumption growth was a surprise.

On the other hand, investors are anticipating the US economy to disclose inflation data with the release of the consumer price index, which may reflect a slowdown in growth to 0.2% compared to 0.4% in October, while a substantial reading of the same indicator may show stability in growth of 0.2%, While the annual reading of the index may show accelerated growth to 2.0% compared to 1.8%, the fundamental annual reading of the index may reflect the stability of growth at 2.3%.

This comes in conjunction with the activities of the Federal Open Market Committee meeting held in Washington, through which it is expected to remain on the short-term benchmark interest rates for the second consecutive meeting at between 1.75% and 2.00%, while revealing the expectations of the members of the committee for the rates of growth, inflation and unemployment. In addition to the future of interest rates for the next three years.

Up to the press conference that Fed Governor Jerome Powell will hold about half an hour after the FOMC meeting ends to comment on the Fed’s policy makers ’decisions that have been witnessing widespread criticism by US President Donald Trump who is asking the Federal Reserve and his Governor Powell to move forward in Reducing interest on federal funds "to zero or less".

Technical analysis

The Australian dollar pair is hovering against the US dollar around the EMA50, showing some slight bearish slope that is affected by the stochastic negativity, noting that the index is trying to get rid of its negative momentum and obtain a positive momentum that contributes to pushing the price to resume the bullish trend.

Until now, we continue to favor the bullish trend for the next period unless 0.6755 level is broken and stability below it, noting that our next main target is at 0.7015.

The expected trading range for today is between 0.6790 support and 0.6870 resistance.

Expected trend for today: bullish.

Aeroflot shares returned to test the 101.02 support level after being able to breach it as a resistance level.

The importance of this level is that it is located at a 50.0% Fibonacci retracement.

The price is moving below the 20-50 moving averages which constitute price resistance levels close to it but it was unable to breach it.

Stochastic is on an upward path, thus adding pressure to the price to rise.

Expected trend for today: bullish.

The pair shows a local reversal in anticipation of the Fed’s meeting results which can give impetus to the limited growth of the dollar. Selling the pair is not unadvisable.

The price is above the middle Bollinger band, below SMA 5, but still above SMA 14. RSI is above the 50% level and reverses down. Stoch give a pair sell signal.

Trading recommendations:

It’s possible to sell the pair since it already passes the level of 1.1085 with a local target of 1.1050, and then, following the results of the ECB meeting, expect it to drop to 1.0990.

The euro currency fluctuated in a narrow range slanting upward during the Asian session to witness its bounce to the sixth session in eight sessions from the lowest since October 10 against the US dollar on the cusp of developments and economic data expected today by the euro area economies and the American economy the largest economy In the world, which includes launching the activities of the Fed meeting in Washington.

At 05:07 am GMT, the euro pair rose against the US dollar by 0.03% to 1.1064 levels compared to the opening levels at 1.1064, after the pair achieved its highest level during the trading session at 1.1071, while achieving the lowest at 1.1063.

The market is currently looking to France, the second largest economy in the euro area, for the release of the industrial production reading, which may reflect the stability of growth at 0.3%, little changed from what it was in the previous reading last September, before we witness the disclosure of the same index reading for Italy The region's third largest economy, which may explain the decline, declined to 0.2% from 0.4% in September.

This comes before we witness the disclosure of a statistical reading of the ZEW economic confidence index for Germany, the largest economies of the euro area and the eurozone economies as a whole, which may reflect a widening in Germany and the region as a whole by 1.1 and 2.2 against a contraction of 2.1 and 1.0, respectively, in November / November, otherwise, the markets will look to the European Central Bank meeting tomorrow, Thursday.

It is expected that the monetary policy makers of the European Central Bank will decide next Thursday to stay on interest rates at their current zero levels, with the fixing of the marginal lending rate at 0.25%, in addition to maintaining a negative interest rate on deposits -0.40% and proceeding with the quantitative easing program at 20 billion Euro per month as long as necessary, before we witness the press conference of the European Central Governorate Christine Lagarde.

On the other hand, investors are currently awaiting by the American economy the disclosure of the final reading of the productivity index and the cost of one work, and it is expected that the productivity index reading will show a 0.3% decline compared to a 0.1% decline in the initial reading for the third quarter and a growth of 2.3% in the previous reading of the second quarter last , While the cost index reading may show a slowdown in growth to 3.4% compared to 3.6% in the first reading and 2.6% in the second quarter.

Other than that, the markets are looking forward to the launching of the FOMC meeting, which takes place today and tomorrow, Wednesday in Washington, through which the short-term reference interest rates for the second consecutive meeting are expected to remain between 1.75% and 2.00% in conjunction with the disclosure of Committee members' expectations for growth, inflation and unemployment rates, as well as the future of interest rates for the next three years.

Up to the press conference to be held by Federal Reserve Governor Jerome Powell tomorrow, exactly half an hour after the FOMC meeting ends to comment on the decisions of the Federal Reserve monetary policy makers, which has been witnessing widespread criticism recently by US President Donald Trump who is calling on the Federal Reserve and his Powell Governor to go Move ahead to cut federal funds interest "to zero or less."

Technical analysis

The euro against the dollar pair begins trading today with a new bullish tendency to move above 1.1065, to show attempts to achieve immediate gains before trying to resume the bearish trend again.

Until now, the downside scenario remains effective unless 1.1108 level is breached and stability above it, as breaching this level will push the price to achieve more gains that reach 1.1180 as a next station, while the main targets of the suggested downside wave are located at 1.0995 then 1.0950.

The expected trading range for today is between 1.0970 support and 1.1120 resistance.

Expected trend for today: bearish.