Analytic reviews

A triple truncated descending pattern formed on the chart. The descending truncated pattern of the M30 level ended with the breakout of the inclined channel. Bullish divergence has formed on Awesome Oscillator, and the Stochastic Oscillator indicator lines are directed upwards. The breakout of 0.8562 will result in the formation of an ascending structure.

Trading recommendatoins:

Buy above 0.8562 (while an ascending pattern is forming).

Stop Loss - 0.8545.

Target levels - 0.8584; 0.8600; 0.8620.

If the price drops to the minimum range (0.8545), cancel the trading plan.

The stock is trading in the range of 365 and 150 moving averages directed downwards, which indicates a downward movement. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversoldness. Breaking through the support level of 170.0 will result in the formation of a descending 123 pattern.

Trading recommendations:

Sell Below 170.00.

Stop Loss – 178.00.

Target levels - 159.50; 154.00.

The pair is trading below 1.1015 amid weaker US treasuries yield in the last two days. The situation may radically change today following yesterday’s statement made by Donald Trump’s economic advisor Larry Kudlow who announced progress in the US-China trade talks.

The price is above the middle line of Bollinger, below SMA 5, but above SMA 14. RSI is below 50% and declining. Stoch crossed in the overbought zone.

Trading recommendations:

Sell the pair with local targets of 1.0990 and 1.0965 after the price crosses the level of 1.1015.

The Australian dollar fell during the Asian session to witness the lowest since October 17 against the US dollar following the developments and economic data followed by the Australian economy and on the eve of developments and data expected on Thursday by the US economy, which includes the second half of the testimony of the Federal Reserve Governor Jerome Powell before Congress as well as the speech of several members of the Federal Open Market Committee.

At 03:58 AM GMT, AUDUSD fell 0.61% to 0.6797 levels, compared to opening levels at 0.6838, after hitting a one-month low of 0.6796, while hitting a session high of 0.6841.

This was followed by the participation of the Reserve Bank of Australia Assistant Governor in charge of the financial system, Michelle Bullock, during a panel discussion at the Association of Australian Pension Funds in Melbourne. Last September.

The Australian Labor Market data was released with the Unemployment Rate reading which showed a rise to 5.3% compared to the previous reading in September and expectations of 5.2%. This came with the change in employment index showed a decline of 19.0 thousand compared to a rise of 12.5 thousand in September September, contrary to expectations for a rise of 16.2 thousand.

On the other hand, investors are looking forward to the speech of Fed Vice Governor and Federal Open Market Committee member Randall Corrales via the opening speech at the annual conference of the International Association of Insurance Supervisors in Abu Dhabi, before we see the release of the producer price index, which is a preliminary indicator of inflationary pressures. That may reflect 0.3% growth versus a 0.3% contraction in September.

The core PPI reading also shows a 0.2% growth versus a contraction of 0.3%, coinciding with the release of the jobless claims for the week ending on the 9th of this month, which may reflect an increase of 4 thousand applications to 215 thousand applications, while the reading may show Continued for the week ended on the second of this month, a decrease of 4 thousand applications to 1,685 thousand applications.

This comes before the Federal Reserve Deputy Governor and FOMC Member Richard Clarda talked about the monetary policy strategy, tools, and communication practices at the Cato Institute annual monetary conference in Washington, before we saw the speech of Chicago Fed Chairman Charles Evans and the committee member. Federalism at the annual Ventec conference hosted by the Federal Reserve Bank of Philadelphia.

Federal Reserve Governor Jerome Powell is expected to testify in the second half of his monetary policy testimony before the Senate Banking Committee on Wednesday after he made the first half of his policy testimony before the Services Committee. Finance in the House.

The President of the Federal Reserve Bank of New York and a member of the Federal Open Market Committee will also deliver the opening speech at the Economic Policy Conference in Asia, hosted by the Federal Reserve Bank of San Francisco, before witnessing the speech of St. Louis Fed Chairman and Federal Reserve Board member James Pollard. About monetary policy at the Rotary Club in Louisville

Technical Analysis

AUDUSD was able to achieve our first awaited target at 0.6825 and surpass it to open the way towards the expected second target, which drops to 0.6735, keeping the bearish scenario valid and effective during the coming period, supported by moving below SMA 50.

Keep in mind that a break of 0.6830 may push the price to test the 0.6895 pivot resistance before any fresh attempt to fall.

Expected trading range for today is between 0.6735 support and 0.6840 resistance

Expected trend for today: Bearish

Cisco shares continue to move within a sideways path that tends to rise after the support level of 46.89 against the price action. The price managed to stabilize above SMA 50.

Stability is above 61.8% Fibonacci retracement which is a key factor to start the bullish path and with the price able to breach the moving averages 50-20 and stability above these averages will be a key factor to start the bullish move.

Stochastic is exiting the overbought area on a downside path which will increase the resistance and push the price down.

General direction of movement: Sideways.

The single currency fluctuated in a narrow range against the US dollar on the eve of developments and economic data expected on Thursday by Eurozone and US economies including Fed Governor Jerome Powell's testimony. In front of Congress in Washington and many members of the Federal Open Market Committee.

At 05:26 AM GMT the EURUSD fell 0.09% to 1.0997 levels from the opening levels of 1.1007, after hitting a one-month low of 1.0995, while hitting a session high of 1.1011.

Markets are currently awaiting the euro zone's largest economy, Germany, to reveal the seasonally adjusted preliminary Q3 GDP reading, which may reflect a stable contraction of 0.1%, unchanged from the second quarter, while the seasonally adjusted annual reading of the index itself may show growth. 0.8% vs. steady at zero levels in the annual reading prior to the second quarter.

This comes before we have seen before the second largest economy of the euro zone France to reveal the final CPI reading which may reflect the stability of the contraction at 0.1%, little changed from the initial reading for the month of September and against the contraction of 0.3% in August, before We are seeing the preliminary reading of the employment change for the euro area as a whole which could show a stable growth of 0.2% in the third quarter.

The release of the seasonally adjusted initial reading of the Eurozone GDP as a whole could reflect a stable growth of 0.2%, unchanged from the previous reading of the second quarter.

On the other hand, investors are looking forward to the speech of Fed Vice Governor and Federal Open Market Committee member Randall Corrales via the opening speech at the annual conference of the International Association of Insurance Supervisors in Abu Dhabi, before we see the release of the producer price index, which is a preliminary indicator of inflationary pressures. That may reflect 0.3% growth versus a 0.3% contraction in September.

The core PPI reading also shows a 0.2% growth versus a contraction of 0.3%, coinciding with the release of the jobless claims for the week ending on the 9th of this month, which may reflect an increase of 4 thousand applications to 215 thousand applications, while the reading may show Continued for the week ended on the second of this month, a decrease of 4 thousand applications to 1,685 thousand applications.

This comes before the Federal Reserve Deputy Governor and Federal Open Market Committee member Richard Clarda talked about monetary policy strategy, tools, and communication practices at the Cato Institute annual monetary conference in Washington, before Chicago Fed Chairman Charles Evans and committee member Federalism at the annual Ventec conference hosted by the Federal Reserve Bank of Philadelphia.

Federal Reserve Governor Jerome Powell is expected to testify in the second half of his monetary policy testimony before the Senate Banking Committee on Wednesday after he made the first half of his policy testimony before the Services Committee. Finance in the House.

The President of the Federal Reserve Bank of New York and a member of the Federal Open Market Committee will also deliver the opening speech at the Economic Policy Conference in Asia, hosted by the Federal Reserve Bank of San Francisco, before witnessing the speech of St. Louis Federal Reserve Chairman and Federal Reserve Board member James Pollard. About monetary policy at the Rotary Club in Louisville.

Technical Analysis

EUR / USD is trading near the 1.0995 level, and we are still waiting for a further decline due to the already completed double top pattern, where our next target is at 1.0950.

Therefore, the bearish bias remains likely in the coming sessions unless 1.1065 is breached and stability above it, noting that SMA 50 continues to support the suggested bearish wave.

Expected trading range for today is between 1.0920 support and 1.1065 resistance

Expected trend for today: Bearish

Gold futures fluctuated in a narrow range upward to see its rebound to the third session of the lowest since August 2, ignoring the rise of the dollar index according to the inverse relationship between them following the developments and economic data that followed from the Chinese economy, the largest consumer of metals in the world and on the eve of developments and data The US economy is expected Thursday, which includes the testimony of Fed Governor Jerome Powell before Congress as well as the speech of members of the Federal Open Market Committee.

At 05:01 am GMT, gold futures for December delivery rose 0.10% to trade at $ 1,465.40 an ounce compared to the opening at $ 1,464.00 an ounce, knowing that the contracts started the session on a bullish gap after the close of trading Yesterday at $ 1,463.30 an ounce, while the US dollar index rose 0.04% to 98.38 compared to the opening at 98.34.

The National Bureau of Statistics (NBS) of China revealed that the annual retail sales index showed a slowdown in growth to 7.2% compared to the prior yearly reading of September and 7.8%, while the annual reading of industrial production showed a slowdown to 4.7% vs. 5.8% in September was also worse than expected at 5.8%, while the unemployment rate showed a decline to 5.1% versus 5.2% in September.

On the other hand, investors are looking forward to the speech of Fed Vice Governor and Federal Open Market Committee member Randall Corrales via the opening speech at the annual conference of the International Association of Insurance Supervisors in Abu Dhabi, before we see the release of the producer price index, which is a preliminary indicator of inflationary pressures. That may reflect 0.3% growth versus a 0.3% contraction in September.

The core PPI reading also shows a 0.2% growth versus a contraction of 0.3%, coinciding with the release of the jobless claims for the week ending on the 9th of this month, which may reflect an increase of 4 thousand applications to 215 thousand applications, while the reading may show Continued for the week ended on the second of this month, a decrease of 4 thousand applications to 1,685 thousand applications.

This comes before the Federal Reserve Deputy Governor and FOMC Member Richard Clarda talked about the monetary policy strategy, tools, and communication practices at the Cato Institute annual monetary conference in Washington, before we saw the speech of Chicago Fed Chairman Charles Evans and the committee member. Federalism at the annual Ventec conference hosted by the Federal Reserve Bank of Philadelphia.

Federal Reserve Governor Jerome Powell is expected to testify in the second half of his monetary policy testimony before the Senate Banking Committee on Wednesday after he made the first half of his policy testimony before the Services Committee. Finance in the House.

The President of the Federal Reserve Bank of New York and a member of the Federal Open Market Committee will also deliver the opening speech at the Economic Policy Conference in Asia, hosted by the Federal Reserve Bank of San Francisco, before witnessing the speech of St. Louis Fed Chairman and Federal Reserve Board member James Pollard. About monetary policy at the Rotary Club in Louisville

Technical Analysis

The price of gold has stabilized around 1465.00 since yesterday, and we note that the stochastic indicator begins to get rid of its negative momentum, waiting for the resumption of the bullish inclination targeting the test of 1489.00 during the coming sessions.

Therefore, we hold onto our bullish intraday direction unless 1447.00 is breached and stability below it, as a breach will press the price to head towards the next corrective level at 1413.10.

Expected trading range for today is between 1450.00 support and 1480.00 resistance

Expected trend for today: Bullish

The US dollar fluctuated in a narrow range, tilted lower during the Asian session to witness the rebound to the sixth session from its highest since late May against the Japanese yen following the developments and economic data that followed from the Japanese economy and on the eve of developments and economic data expected on Thursday by the US economy Fed Governor Jerome Powell testified before Congress in Washington as well as FOMC members' speech.

At 05:59 AM GMT the USDJPY fell 0.06% to 108.75 levels from 108.82 opening levels, after hitting its lowest level since Nov. 5 at 108.63, while hitting its highest level during the week. The trading session was 108.86.

The Japanese economy followed the release of Q3 growth data with the release of the seasonally adjusted preliminary GDP figure which showed growth slowed to 0.1% vs. 0.3% in the second quarter, worse than expectations for slowing growth to 0.2%, while the reading showed The annualized price index itself accelerated growth to 0.6% versus 0.4% in the second quarter, beating expectations for a 0.5% growth.

On the other hand, investors are looking forward to the speech of Fed Vice Governor and Federal Open Market Committee member Randall Corrales via the opening speech at the annual conference of the International Association of Insurance Supervisors in Abu Dhabi, before we see the release of the producer price index, which is a preliminary indicator of inflationary pressures. That may reflect 0.3% growth versus a 0.3% contraction in September.

The core PPI reading also shows a 0.2% growth versus a contraction of 0.3%, coinciding with the release of the jobless claims for the week ending on the 9th of this month, which may reflect an increase of 4 thousand applications to 215 thousand applications, while the reading may show Continued for the week ended on the second of this month, a decrease of 4 thousand applications to 1,685 thousand applications.

This comes before the Federal Reserve Deputy Governor and FOMC Member Richard Clarda talked about the monetary policy strategy, tools, and communication practices at the Cato Institute annual monetary conference in Washington, before we saw the speech of Chicago Fed Chairman Charles Evans and the committee member. Federalism at the annual Ventec conference hosted by the Federal Reserve Bank of Philadelphia.

Federal Reserve Governor Jerome Powell is expected to testify in the second half of his monetary policy testimony before the Senate Banking Committee on Wednesday after he made the first half of his policy testimony before the Services Committee. Finance in the House.

The President of the Federal Reserve Bank of New York and a member of the Federal Open Market Committee will also deliver the opening speech at the Economic Policy Conference in Asia, hosted by the Federal Reserve Bank of San Francisco, before witnessing the speech of St. Louis Federal Reserve Chairman and Federal Reserve Board member James Pollard. About monetary policy at the Rotary Club in Louisville.

Technical Analysis

USDJPY has been trading negatively since yesterday to test support for the bullish correction channel, noting that the Stochastic is showing positive signals over the 4-hour time frame, keeping chances for positive trading in the coming sessions.

Therefore, we hold onto our bullish outlook unless 108.40 is breached and hold below it, noting that our main targets start at 109.33 and extend to 110.50 after breaching the previous level.

Expected trading range for today is between 108.00 support and 109.50 resistance

Expected trend for today: Bullish

When buying an option against the trend, it is necessary to confirm other instruments of technical analysis - the presence of divergence, candlestick reversal patterns. Buy against trend strictly on level retest! 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 overall movement is upward. A descending truncated pattern of the M30 level has formed which tests the 50% Fibo level of the ascending wave (of the H4 level). Bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversoldness. 

Trading recommendations:

Buy strictly while the ascending pattern is forming, where the wave (AU) breaks through the inclined channel of the descending pattern of the M30 level. Buy on the breakout of the top (aC).

Stop Loss below the support level of 109.74 (or local minimum, if it is lower).

Target levels - 110.11 (trap for Pros - new order close and transfer to breakeven); 110.48 (level 138.2% Fib from wave A H4).