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Gold is still trading flat, remaining hostage to the US-China trade negotiations. The market behavior isn’t likely to change until December 15th, when China and the US will either impose new tariffs or postpone them once again.

The price is below the middle Bollinger bands, above SMA, but below SMA 14. RSI is below 50% and is growing weakly. Stoch are in the oversold zone and indicate a likely reversal of the price.

Trading recommendations: 

Sell gold either as it's growing  from the level of 1464.50, or after its decline below 1456.00 with local goals of 1451.20 and 1440.00.

The euro against the dollar continues to fluctuate at 1.1105, and the price gets continuous positive support from the EMA50, to support the chances of breaching the mentioned level and then rushing towards our next target which is located at 1.1180.

In general, we will maintain our bearish expectations, provided stability above 1.1065, as breaking this level will put the price under negative pressure, its targets start at 1.0995 then 1.0950.

The expected trading range for today is between 1.1050 support and 1.1200 resistance.

Expected trend for today: bullish.

The narrow range continues to dominate gold price trading, which hovers around the 1475.00 level, which keeps our bearish expectations intact as it is without change for the day, which depends on stability below the 1489.00 level, with a reminder that our main goals start at 1447.00 and extend to 1413.10 after a break Previous level.

The expected trading range for today is between 1455.00 support and 1490.00 resistance.

Expected trend for today: Overall fall.

The dollar against the yen pair started to rebound downward after testing SMA 50 in the previous sessions, to support the expectations of the continuation of the downside trend, waiting for the test of the level of 108.40 initially, noting that breaking this level will push the price towards 107.45 directly.

Thus, the downside trend will remain valid and active for the upcoming period unless the price rushes to breach the 109.33 level and hold above it.

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

Expected trend for today: bearish.

The Australian dollar versus the US dollar fluctuated in a narrow path in the previous sessions, and remains stable above the EMA50, which keeps our positive expectations unchanged, relying on stability above 0.6755, noting that we are waiting for the direction towards 0.7015 as a next positive target.

The expected trading range for today is between 0.6800 support and 0.6900 resistance.

Expected trend for today: bullish.

Gold is turning down in the wake of the US President's positive shift in rhetoric. In view of this, as well as due to the likely positive today’s new jobs data, a heavier decline of the price is expected.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is declining and testing a level of 50%. Stoch are moving steadily downwards.

Trading recommendations: 
Sell gold from the level of 1471.00 with a local target of 1444.50.

The US dollar fluctuated in a narrow range slanting back down during the Asian session to witness its bounce for the third session in four sessions from its highest since May 30, when it tested its highest since 23 of the same month against the Japanese yen amid the scarcity of economic data by the Japanese economy and on The economic developments and data expected on Thursday by the US economy, which includes the second half of the testimony of the Deputy Governor of the Federal Reserve and member of the Federal Open Market Committee Randall Quarles before the Congress in Washington.

At exactly 06:03 AM GMT, the US dollar pair fell against the Japanese yen by 0.06% to 108.79 levels compared to the opening levels at 108.86 after the pair achieved its lowest during the trading session at 108.78, while achieving the highest at 108.93.

Investors are currently looking for the US economy to issue a reading of the subsidy requests index for the last week at the end of last month, which may reflect an increase by two thousand requests to 215 thousand requests compared to 213 thousand requests in the previous weekly reading, as may read the index of subsidy requests investors for the past week at 23 From last month, an increase of 20 thousand requests to 1,660 thousand requests compared to 1,640 thousand requests.

This comes in conjunction with the release of the Trade Balance Index reading, which may reflect a narrowing of the deficit to $ 48.7 billion compared to $ 52.5 billion in September, and before the disclosure of the factory orders reading, which may show a 0.3% rise compared to a 0.6% decline in September, Up to the Federal Reserve Deputy Governor and member of the Federal Commission Randall Quarles testified about supervision and regulation before the Senate Banking Committee.

Technical analysis

The dollar against the yen touched the 108.40 level yesterday and bounced up to test the moving average 50, noting that the stochastic indicator has lost its positive intention to enter the overbought areas, which supports the chances of bouncing down to resume negative trades, and the price needs to break the mentioned level to confirm the downside extension to reach 107.45.

Therefore, we will maintain our downside expectations unless we witness a clear breach of 109.33 and steady daily closing above it.

The expected trading range for today is between 108.00 support and 109.33 resistance.

Expected trend for today: bearish.

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce for the fourth session in seven sessions from the lowest since 12 November, when it tested the lowest since 2 August, with the US dollar index rebounding for the fifth session on The consecutive top of it since October 15, according to the inverse relationship between them on the cusp of developments and economic data expected today by the US economy and amid market pricing of developments in the trade war between Washington and Beijing.

At exactly 04:24 AM GMT, gold price futures for February delivery rose 0.07% to trade at $ 1,481.10 per ounce compared to the opening at $ 1,481.00 per ounce, knowing that the contracts started the session’s trading on a falling price gap after yesterday’s trading was concluded At $ 1,480.20 an ounce, with the US dollar index down 0.03% to 97.56 compared to the opening at 97.59.

Investors are currently looking for the US economy to issue a reading of the subsidy requests index for the last week at the end of last month, which may reflect an increase by two thousand requests to 215 thousand requests compared to 213 thousand requests in the previous weekly reading, as may read the index of subsidy requests investors for the past week at 23 From last month, an increase of 20 thousand requests to 1,660 thousand requests compared to 1,640 thousand requests.

This comes in conjunction with the release of the Trade Balance Index reading, which may reflect a narrowing of the deficit to $ 48.7 billion compared to $ 52.5 billion in September, and before the disclosure of the factory orders reading, which may show a 0.3% rise compared to a 0.6% decline in September, Up to the Federal Reserve Deputy Governor and member of the Federal Commission Randall Quarles testified about supervision and regulation before the Senate Banking Committee.

In view of the developments of the trade war between the United States and China, we followed yesterday the report of the Bromberg News Agency, which touched on the imminent conclusion of Washington and Beijing on an agreement regarding the volume of customs duties that will be revoked in what is known as the first trade agreement, according to informed sources reported by Bloomberg, and in the same context, US President Donald Trump also noted yesterday that trade talks with China are going well.

The developments came hours after Trump last Tuesday expressed his preference in one way or another to postpone the conclusion of a trade deal with China until after the 2020 presidential elections, while stating that Beijing wants to conclude a deal at the moment with Washington and that "we will see if the deal will be correct or not." "And markets are currently awaiting the decision of Washington by the 15th of this month whether or not to activate the 15% increase in customs duties on Chinese goods valued at $ 160 billion."

In another context, US President Trump also threatened France last Tuesday to impose 100% tariffs on goods it supplies to his country estimated at $ 2.4 billion to pressure Paris to back down from its intention to impose a new digital services tax that will harm technology companies, especially American, which was denounced by France and the Commission European Union and that in the case of imposing new tariffs, the European Union and France are ready to respond.

Technical analysis

Gold price trades around 1475.00 level since yesterday, and the price needs to get a negative incentive to support the chances of resuming the expected bearish direction for the coming period, which depends on stability below 1489.00 level.

Our negative targets start with testing the 1447.00 level, noting that breaching this level will push the price to 1413.10 as a next station, while a break of 1489.00 represents the key to stop the current bearish correction and restore the main bullish direction.

The expected trading range for today is between 1455.00 support and 1490.00 resistance.

Expected trend for today: Overall fall.

The euro currency fluctuated in a narrow range tilted to the upside during the Asian session to witness its rebound to the fourth session in five sessions from the lowest since October 10 against the US dollar on the cusp of developments and economic data expected today Thursday by the economies of the euro area and the American economy, which The second half of the Fed’s Deputy Governor and member of the Federal Open Market Committee Randall Quarles before the US Congress in Washington includes.

At exactly 05:35 am GMT, the euro pair rose against the US dollar by 0.05% to 1.1084 levels compared to the opening levels at 1.1078, after the pair achieved its highest level during the trading session at 1.1087, while achieving the lowest at 1.1078.

Markets are looking for Germany, the largest economy in the eurozone, to release the factory demand reading, which may show a slowdown in growth to 0.3% versus 1.3% last September, while the annual seasonally adjusted reading may reflect a shrinking decline to 4.7% versus 5.4% in September , Before we saw the release of the retail sales index for the euro area as a whole, which may indicate a 0.4% decline compared to a 0.1% rise in September.

In the same context, the annual reading of the retail sales index for the euro area as a whole may explain the slowdown in the pace of growth to 2.2% compared to 3.1% in September, in conjunction with the release of the end reading of employment change also for the euro area as a whole which may reflect stability at 0.1% without change It is mentioned about the first reading for the third quarter and compared to 0.2% in the previous reading for the second quarter of last year.

Investors are also looking to reveal the seasonally adjusted final reading of the gross domestic product for the euro area as a whole for the third quarter, which may reflect the stability of the expansion at 0.2%, little changed from the initial reading of the last quarter and the previous reading of the second quarter, as the annual reading of the same indicator may show the stability of growth at 1.2 % Without significant change from the previous initial reading and against 1.1% in the previous annual reading for the second quarter.

This comes in conjunction with the activities of the Finance Ministers of the Eurozone Ecofin in Brussels, which the Finance Ministers of the European Union member states attend in order to discuss many financial issues such as mechanisms to support the euro and government financing, and these meetings are closed and the media are not allowed to transfer them, but officials returned with They hold press interviews with the media throughout the day.

On the other hand, investors from the US economy are awaiting the release of the index of subsidy requests for the past week at the end of last month, which may reflect an increase by two thousand requests to 215 thousand requests compared to 213 thousand requests in the previous weekly reading, as may read the index of subsidy requests investors for the past week On the 23rd of last month, an increase of 20 thousand requests to 1,660 thousand requests compared to 1,640 thousand requests.

This comes in conjunction with the release of the Trade Balance Index reading, which may reflect a narrowing of the deficit to $ 48.7 billion compared to $ 52.5 billion in September, and before the disclosure of the factory orders reading, which may show a 0.3% rise compared to a 0.6% decline in September, Up to the Federal Reserve Deputy Governor and member of the Federal Commission Randall Quarles testified about supervision and regulation before the Senate Banking Committee.

Technical analysis

The EURUSD pair faced strong resistance at 1.1105 yesterday, and is trying to gain positive momentum now in an attempt to resume the bullish tendency and breach the mentioned level to open the way for visiting the 1.1180 level which represents our next target.

In general, we continue to favor the bullish trend with price stability above 1.1065, noting that SMA 50 continues to support the suggested bullish wave.

The expected trading range for today is between 1.1000 support and 1.1160 resistance.

Expected trend for today: bullish.

Cisco stock reached the target at 43.88, which is the minimum of the descending channel within which the price is moving

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

Stochastic of a descending path towards the oversold zone will increase the pressure on the price to try to breach the support and continue the downside.

The general direction of the movement: Bearish.