Analytic reviews

EURUSD

The pair shows a local downward reversal ahead of the ECB’s monetary policy meeting today. The regulator is expected to expand stimulus measures by 500 billion euros, which may support the local stock market and put pressure on the common currency.

Technical side:

The price is located below the middle Bollinger band, at SMA 5 and below SMA 14. RSI is below the 50% level and turned down again. Stoch are still growing.

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

Trading recommendations:

Sell the pair with a likely drop to 1.2000.

#CMI

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. Stochastic Oscillator signals oversold conditions. Breaking through the resistance level of 222.70 will result in the formation of an ascending pattern of 1-2-3.

Trading recommendations:

Buy when the 1-2-3 pattern is formed above 222.70.

Stop Loss: 216.40.

Target: 235.58.

GBPJPY

The currency pair is trading in the range of the upper limit of the descending price channel on the weekly timeframe (W1).

GBPJPY analysis: monitor the price movement in real time.

On the H1 timeframe, the ascending pattern of the M15 level is truncated, and Stochastic Oscillator signals overbought condition. Probably the ascending M15 pattern is a wave In the descending H1 level pattern.

Trading recommendations:

Sell when a descending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the ascending truncated pattern.

Stop Loss for the local maximum.

Target levels: 138.00; 137.23.

The US dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness the resumption of its rebound from its high since November 24 for the second session in five sessions against the Japanese yen following developments and economic data that they followed on the Japanese economy and on the cusp of developments and expected economic data today, Tuesday. By the US economy the largest in the world.

At 07:25 AM GMT, the US dollar against the Japanese yen fell by 0.01% to 104.04 levels compared to the opening levels at 104.05, after the pair achieved its lowest level during the session’s trading at 103.96, while achieving its highest at 104.09.

On the Japanese economy, the second largest in Asia and the third largest in the world, we followed the release of the annual household spending index, which showed an increase of 1.9% against a decline of 10.2% last September, contrary to expectations that indicated a rise of 2.7%. This coincided with the annual average income reading showing that the decline has narrowed to 0.8% from 1.3% in September, worse than expectations for a 0.7% decline.

This came before we witnessed the disclosure of the final seasonally adjusted final reading of the GDP index, which showed a growth of 5.3% compared to the initial reading for the third quarter and expectations of a growth of 5.0% and compared to a contraction of 7.9% in the last second quarter, and the final annual reading of the same index measured by prices showed a growth of 1.2% Compared to the preliminary annual reading for the last quarter and expectations of 1.1% growth versus 1.3% growth in the second quarter.

This came in conjunction with the reading of the current account index, which showed the surplus widening to a value of 1.98 trillion yen, compared to 1.35 trillion yen in September, surpassing the expectations that indicated a surplus of 1.83 trillion yen, as the seasonally adjusted reading of the same index showed the expansion of the surplus to its value. 2,145 billion yen compared to 1,660 billion yen, also better than expectations that indicated a surplus of 2,126 billion yen.

This also came in conjunction with the Bank of Japan's disclosure of the annual reading of the bank lending index, which showed an acceleration of growth to 6.3%, in line with expectations, compared to 6.1% last October, leading to the Japanese Cabinet Office's disclosure of Echo Watchers’s statistic reading of current conditions, which showed contraction. Current conditions rose to a value of 45.6, against a 54.5 expansion in October, contrary to expectations that indicated a contraction of the expansion to 52.7.

On the other hand, investors are currently awaiting the American economy to unveil the final reading of the productivity index and the cost of work, and it is expected that the reading of the productivity index will confirm a rise of 4.9%, without any change from the initial reading for the third quarter, compared to a growth of 10.1% in the previous reading for the second quarter, While the cost index reading may confirm a decline of 8.9%, unchanged from the previous preliminary reading, and against a growth of 9.0% in the second quarter.

Technical analysis

The dollar against the yen began to rebound to the downside after testing the main resistance line, which supports the continuation of our expectations for the bearish trend, waiting for the breach of 103.65 to reinforce expectations for the continuation of the bearish wave in the intraday and short term, whose next target is at 103.00.

In general, we will continue to suggest the bearish trend for the upcoming period unless breaching 104.76 level and holding above it.

The expected trading range for today is between 103.20 support and 104.50 resistance

The expected general trend for today: Bearish

The Australian dollar fluctuated in a narrow, rising range during the Asian session against the US dollar, following the developments and economic data that they followed on the Australian economy and on the cusp of economic developments and data expected on Tuesday by the US economy, the largest economy in the world.

At exactly 03:57 am GMT, the Australian dollar against the US dollar rose by 0.05% to 0.7425 levels compared to opening levels at 0.7421, after the pair achieved its highest level during the session's trading at 0.7426, while the pair achieved its lowest level at 0.7410.

The Australian economy followed up the disclosure of housing market data with the release of the house price index reading, which reflected a rise of 0.8% against a decline of 1.8% in the last second quarter, contrary to expectations that indicated a contraction of the decline to 1.6%, while the annual reading of the same index showed slowing growth To 4.5% versus 6.2%.

This came before we witnessed the release of the Australian National Bank of Business Confidence Index reading, which showed an expansion to a value of 12 versus 3 last October, and the same confidence index reading in current conditions showed an expansion to a value of 9 versus 1 in October. 

On the other hand, investors are currently awaiting the American economy to unveil the final reading of the productivity index and the cost of work, and it is expected that the reading of the productivity index will confirm a rise of 4.9%, without any change from the initial reading for the third quarter, compared to a growth of 10.1% in the previous reading for the second quarter, While the cost index reading may confirm a decline of 8.9%, unchanged from the previous preliminary reading, and against a growth of 9.0% in the second quarter.

Technical analysis

The Australian dollar against the US dollar resumed its positive trading after testing the support of the bullish intraday channel, to settle above 0.7413 again, which supports the continuation of our expectations for the main bullish trend, which targets 0.7530 as a next positive station.

Consequently, we will continue suggesting the bullish trend for the upcoming period supported by the MA 50, reminding you of the importance of stability above 0.7335 for the continuation of the suggested ascend.

The expected trading range for today is between 0.7380 support and 0.7500 resistance

The expected general trend for today: Bullish

#COST

The overall trend is upward. The stock is trading in the range of 365 and 135 moving averages directed upwards. The inclined channel of the descending pattern is broken. Stochastic Oscillator signals oversold condition.

Trading recommendations:

Buy on the formation of an ascending 1-2-3 pattern.

Stop Loss: 371.00.

Target level: 388.00.

AUDNZD

The overall trend is downward. An H4 level ascending pattern is truncated and the pattern of the wave C H4 (M30 level pattern) is also truncated. Awesome Oscillator shows a bearish divergence. The currency pair is trading in the range of 365 and 135 moving averages. 

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

Trading recommendations:

Sell when a descending wave pattern is formed, where the wave (A) breaks through the inclined channel of the ascending truncated pattern of the H4 level.

Stop Loss: 1.0568.

Target levels: 1.0480; 1.0423.

Gazprom share continues moving within the bullish path, after it settled above the resistance level 184.75, after breaching the resistance 180.70 and closing above it. And also after exiting the descending channel in which it was moving.

The price is moving above the 20-50 moving averages, which is a positive sign for a continuation of the upside path.

While we have resistance at 198.00 and major support at 178.00.

We note that the stochastic indicator is approaching the overbought area in an upward path, thus supporting the opportunity to continue the bullish movement

The price action will be between the support level 170.50 and the resistance level 201.00.

The general direction of the movement is up.

The single currency, the euro, fluctuated in a narrow, upward sloping range during the Asian session, to witness its stability near its highest since late 2018 against the US dollar on the cusp of economic developments and data expected on Monday by the Eurozone economies and amid scarcity of economic data at the beginning of this week by the economy. The US is the largest economy in the world.

At 06:47 AM GMT, the euro pair rose against the US dollar by 0.07% to 1.2131 levels compared to the opening levels at 1.2122, after the pair achieved its highest level during the session's trading at 1.2140, while the pair achieved its lowest level at 1.2116, with Knowing that the pair started the session on a rising gap, after ending last week’s trading at 1.2121 levels.

The markets are looking to Germany, the largest economy in the euro area, to reveal industrial sector data, with the release of the seasonally adjusted reading of the industrial production index, which may show a slowdown in growth to 1.6% compared to 1.8% last September, and this comes before we see the economies of the euro area as a whole. The release of the Sentix consumer confidence index, which reflects the widening of the contraction, to a value of 11.9, compared to 10.0 last October.

On the other hand, the chief negotiator of the European Union, Michel Barnier, said last Thursday that major differences between Brussels and London still exist in the trade talks, explaining that the outcome of the talks is uncertain, adding that both parties are committed to reaching an agreement, while an agreement cannot be guaranteed in the end This boosted market expectations that Britain would leave the European Union without an agreement by the end of this year 2020.

Technical analysis

The EUR / USD pair faced strong resistance at 1.2175, to show some temporary bearish bias, noting that the stochastic oscillator got rid of its negative momentum to reach oversold areas, while the SMA 50 continues to support the price from below.

Thus, these factors encourage us to suggest resuming the bullish trend during the upcoming sessions, noting that our next target will reach 1.2300, while achieving it requires stability above 1.2040.

The expected trading range for today is between 1.2050 support and 1.2240 resistance.

The expected general trend for today: Bullish.

The Australian dollar fluctuated in a narrow, upward range during the Asian session against the US dollar, following the developments and economic data that they followed on the Australian economy, which included the speech of Reserve Bank of Australia Governor Philip Lowe about innovation in the Australian payment system and amid the scarcity of economic data today, Monday, by the US economy. Economy in the world.

At exactly 03:58 am GMT, the Australian dollar against the US dollar rose by 0.01% to 0.7431 levels compared to opening levels at 0.7430, after the pair achieved its highest level during the session's trading at 0.7437, while the pair achieved the highest at 0.7421, with Knowing that the pair started trading on a rising gap after ending last week’s trading at 0.7425 levels.

We have followed up on the Australian economy the release of the services index reading by the Australian Industrial Group (AIG), which reflected an expansion to a value of 52.9 compared to 51.4 last October, and this came before we witnessed the Governor of the Central Bank of Australia Philip Lowe delivered a speech under the title " Innovation in the Australian Payments System "at a webinar hosted by the Australian Payments Network, leading to the disclosure of labor market data with the release of the employment advertisements index, which showed growth acceleration to 13.9% compared to 11.9% in October.

Technical analysis

The Australian dollar against the US dollar did not show any strong movement recently, to move within a narrow range, stabilizing above 0.7413, and therefore, there is no change to the bullish trend scenario that depends on stability above 0.7335, supported by the MA 50, with a reminder that our next target reaches 0.7530.

The expected trading range for today is between 0.7380 support and 0.7500 resistance

The expected general trend for today: Bullish.