Analytic reviews

The US dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its rebound for the second session from its high since the second of December against the Japanese yen amid a scarcity of economic data in the last sessions of the week by the Japanese economy and on the cusp of developments and expected economic data today, Friday from The American economy was before the largest in the world.

At exactly 07:04 GMT, the US dollar against the Japanese yen fell by 0.20% to 104.03 levels compared to the opening levels at 104.24, after the pair achieved its lowest level during the session's trading at 103.93, while it achieved its highest at 104.28.

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.

Technical analysis

The dollar against the yen rebounded significantly downwards yesterday, to stabilize below the resistance of the downside movement, and the price is still within the sideways range that appears in the picture, confined between the support 103.65 and the resistance 104.76, to continue suggesting the sideways movement in the intraday term until one of these levels is breached to set targets Following more clearly.

We mention that breaking the aforementioned support will push the price to continue the main bearish trend that initially targets 103.00 areas, while breaching the resistance will lead the price to achieve positive targets starting at 105.20, then 106.00.

The expected trading range for today is between 103.40 support and 104.75 resistance

The expected trend for today: sideways

The Australian dollar against the US dollar succeeded in achieving our first awaited target at 0.7530, and breaching it to open the way to our next leg, which is at 0.7600, reinforcing expectations for the continuation of the bullish trend in the intraday and short term, noting that breaching this level will extend the bullish wave to reach 0.7685.
 
Therefore, we await more incline during the upcoming sessions, provided that the price maintains its stability above 0.7440.
 
The expected trading range for today is between 0.7500 support and 0.7640 resistance
 
The expected general trend for today: Bullish

EURUSD

The pair has formed a «descending flag» trend pattern and broke out of it. The weaker US dollar along with the coming ECB support measures for the European economy stimulate the pair's growth.

Technical side:

The price is located above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the 50% level and growing. Stoch have entered into overbought zone.

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

Trading recommendations:

The pair may grow further to 1.2215, implementing the «descending flag» trend continuation pattern.

CADCHF

The overall trend is downward. A start fractal has formed below the 135 (EMA) moving average. Breaking through the start fractal will result in the formation of a 1-2-3 descending pattern. Awesome Oscillator shows a bearish divergence.

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

Trading recommendations:

Sell at a breakout of 0.6947.

Stop Loss: 0.6984.

Target levels: 0.6900; 0.6880.

#ABC

The overall trend is upward. The descending pattern is truncated. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals an oversold condition.

Trading recommendations:

Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending truncated pattern.

Stop Loss at the local minimum (99.00).

Target levels: 104.36; 110.37.

#BMW
The overall trend is upward. The descending pattern of the H1 level is truncated. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversold conditions.

Trading recommendations:
Buy when an ascending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the descending truncated pattern.
Stop Loss at the local minimum.
The target is 77.00.

Gold Analysis 10-12-2020
Futures contracts for gold prices fluctuated in a narrow range that tends to rise during the Asian session, to witness its rebound to the fifth session in seven sessions from its lowest since the second of July, amid the decline of the US dollar index, indicating its stability near its lowest in more than two and a half years according to the inverse relationship between them On the cusp of two developments and economic data expected today, Tuesday, by the US economy, the largest economy in the world.
 
At 06:49 AM GMT, gold futures contracts for next February delivery rose 0.37% to trade at $ 1,873.00 per ounce, compared to the opening at $ 1,866.10 per ounce, knowing that the contracts started the session on a rising price gap after yesterday's trading was concluded At $ 1,866.00 per ounce, with the US dollar index declining 0.05% to 90.85 compared to an opening at 90.89.
 
Investors are currently awaiting the American economy to reveal the final reading of the productivity index and the cost of one work, and it is expected that the reading of the productivity index will confirm a rise of 4.9%, with little change from the preliminary reading for the third quarter and against a growth of 10.1% in the previous reading for the second quarter, while it may confirm The cost index reading decreased 8.9%, unchanged from the previous preliminary reading, and compared to a growth of 9.0% in the second quarter.
 
On the other hand, last weekend we followed the report that touched upon the fact that Washington is preparing to impose sanctions on some Chinese officials as part of the series of renewed tensions between the two largest economies in the world, and this comes in conjunction with the continuing outbreak of the second wave of the Corona virus globally, which has dominated in one way or another On the optimism of the imminent availability of vaccines for the coronavirus in the coming period.
 
It is expected that the advisory committee at the US Food and Drug Administration (FDA) will meet next Thursday to consider approvals for Corona vaccines, specifically the joint vaccine for each of the American company Pfizer and the German company Bio-Tech and the American company Moderna vaccine, which previously announced that it had submitted a request for approval For its vaccine in America and Europe, in order for Tibet to grant permission for these vaccines to use emergency or not.

Technical analysis

 
Gold price suffered significant losses yesterday to attack 1838.00 and reach 1825.00, but we note that the price closed the daily candlestick above the first level, which keeps opportunities available for the continuation of the main bullish trend, especially since the stochastic indicator is providing clear positive signals now.
 
Thus, we expect to witness positive trading in the upcoming sessions, and targets start at 1850.00 then 1870.00, bearing in mind that breaking 1838.00 will stop the expected rise and press the price to turn downward.
 
The expected trading range for today is between 1830.00 support and 1870.00 resistance
 
The expected general trend for today: Bullish

The Australian dollar fluctuated in a narrow range sloping upward during the Asian session, to witness its stability near its high since mid-June 2018 against the US dollar, following the economic developments and data that we have followed on the Australian economy and on the cusp of economic developments and data expected today, Thursday, by the US economy, the largest economy. In the world.
 
At exactly 04:09 GMT, the Australian dollar against the US dollar rose by 0.27% to 0.7467 levels compared to opening levels at 0.7467, after the pair achieved its highest level during the session's trading at 0.7474, while the pair achieved its lowest level at 0.7427.
 
We have followed up by the Australian economy the release of the Melbourne Institute reading of consumer inflation expectations for December, which showed that growth remained stable at 3.5%, without little change from what it was in the previous reading for last November, and this came before we witnessed a bank disclosure. Australia Reserve for its quarterly bulletin.
 
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 the 5th of December, which may reflect an increase of 11,000 requests to 723,000, compared to 712,000 in the previous reading. Continuing aid for the past week of November 28, an increase of 185,000, to 5.52 million, compared to 5,335,000.
 
This comes in conjunction with the disclosure of inflation data with the release of the consumer price index reading and the core reading of the index itself, which may reflect a growth of 0.1% against the stability at zero levels last October, while the annual reading of the same index may indicate a slowdown in growth to 1.1% compared to 1.2. % In October, and the annual core reading of the same index may reflect the stability of growth at 1.6% in November.
 
And that is before we witness the Treasury Department's disclosure of a reading of the federal budget, which may show the deficit shrinking to $ 200.0 billion compared to $ 284.1 billion in October. $ 1 billion to House Speaker Nancy Plossi, who praised the progress towards adopting stimulus, despite considering the measure of the proposal "unacceptable".
 
And this came before we also witnessed last Tuesday, the Republican Senate Majority Leader Mitch McConnell expressed that he prefers to pass the basic aid package to face the repercussions of the Corona pandemic to small companies, which are estimated at $ 550 billion, explaining the importance of passing what can be agreed upon and not adhering to governmental and local aid That causes lawmakers to split over the upcoming new stimulus.
 

Technical analysis

The Australian dollar against the US dollar made a new test to support the bullish intraday channel and rebounded significantly from there, which keeps our bullish expectations valid for the upcoming period, supported by the SMA 50 that continues to carry the price from below, reminding you that our next target is at 0.7530.
 
Keep in mind that the continuation of the expected rise requires stability above 0.7410.
 
The expected trading range for today is between 0.7410 support and 0.7550 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 settle above it with the opening of the week's trading.

Trading continues above the moving averages as the price moves away from it, therefore it is likely that we will witness a downward correction in the price in conjunction with the price reaching resistance

The expected trading range is between 42.13 support and 45.25 resistance

The expected general trend for today: Bullish

EURNZD

The overall trend is downward. The currency pair is trading in the range of the upper limit of the descending price channel. Breaking through the support level of 1.7175 will result in the formation of a descending wave pattern within the wave C of an H2 descending pattern.

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

Trading recommendations:

Sell when a descending wave pattern is formed below 1.7175.

Stop Loss: 1.7275.

Target levels: 1.7096; 1.7022.