Analytic reviews

Thursday, December 3rd, today’s news—BBC reports progress on Brexit negotiations, a trade deal maybe only a few days away. European markets are mixed, Chinese service sector grows, number of COVID hospitalizations in the US reaches 100,000, dollar continues to fall. The price of Brent oil is $48.02, WTI—$45.00 EUR/USD is at 1.2108, GBP/USD—1.3402, gold is $1,841.35 per ounce.

AUDCHF

The overall trend is upward. A bullish divergence has formed on Awesome Oscillator. The currency pair is in the range of 5 and 22 moving averages on the D1 timeframe. The corrective movement of the wave (B) will drive up the wave level of the ascending pattern.

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

Trading recommendations:

Buy when the high is breached, after a correction that breaks through the inclined channel of the red pattern, which will drive up the wave level.

Stop Loss: 0.6590.

The target is 0.6712.

#ABC

The overall trend is upward. The stock is trading in the range of 365 and 135 moving averages directed upwards. The moving averages of the Stochastic Oscillator have left the oversold zone. A breakout of the resistance level of 104.36 will result in the formation of a 1-2-3 ascending pattern.

Trading recommendations:

Buy above 104.36.

Stop Loss: 99.70.

The target is 110.37.

GOLD

Gold continues to recover as stock indices are at risk of collapse, even more so in November, unable to rise amid the pandemic. Other factors include the uncertainty of how soon the mass vaccination begins in the West, as well as expectations of new stimulus measures in America, which weaken the dollar.

Technical side:

The price is above the middle line of the Bollinger band, above SMA 5 and SMA 14. RSI is under the overbought zone and is growing smoothly. Stoch are also in this zone, but uninformative.

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

Trading recommendations:
Buy gold with a possible further growth by 1875.00.

The US dollar fluctuated in a narrow range slanting to an upside during the Asian session against the Japanese yen, amid scarce economic data by the Japanese 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 07:01 am GMT, the US dollar against the Japanese yen rose by 0.04% to 104.46 levels compared to the opening levels at 104.42, which is the pair's lowest level during the session's trading, while it achieved its highest at 104.54.

Investors are currently awaiting the American economy to see the release of the aid claims index reading for the past week on November 28, which may reflect a decrease of 3 thousand applications to 775 thousand applications compared to 778 thousand applications in the previous reading. Last month, on the 21st of last month, a decrease of 156 thousand requests to 5,915 thousand applications compared to 6,071 thousand applications in the previous reading.

This comes, before we witness the release of the final reading of the Service Provisioning Institute index by Markit on America, which may reflect a contraction in the breadth to 57.5 compared to the initial reading of last month at 57.7 and compared to a widening of 56.9 last October, leading to revealing the reading of the Service Provision Institute index reading. By the largest economy in the world, which may explain the contraction of the expansion to 56.0 compared to 56.6 in October.

Technical analysis

The EURUSD pair continues to provide positive trading, approaching our extended target at 1.2150, and we expect the bullish trend to prevail in the upcoming sessions, noting that surpassing the mentioned level will push the price to 1.2300 as a next major stop.

Consequently, the bullish trend will remain valid and effective for the upcoming period, provided the price maintains its stability above 1.2011 level.

The expected trading range for today is between 1.2050 support and 1.2220 resistance

The expected general trend for today: Bullish

The Australian dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement of the second session from its highest since the ninth of August 2018 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 today, Thursday, by the US economy The largest economy in the world.

At exactly 04:11 AM GMT, the Australian dollar fell against the US dollar by 0.04% to 0.7413 levels compared to opening levels at 0.7416, after the pair achieved its lowest level during the session's trading at 0.7398, while the pair achieved the highest at 0.7419.

On the Australian economy, we have followed up on the disclosure of the construction index reading by the Australian Industrial Group (AIG), which showed an expansion to a high of 55.3 compared to 52.7 last October, and this came before we witnessed the release of the trade balance index reading, which showed the expansion of the surplus A value of 7.46 billion Australian dollars compared to 5.82 billion Australian dollars last September, beating expectations of a 5.83 billion Australian dollars surplus.

On the other hand, investors are currently awaiting the US economy, the release of the aid requests index reading for the past week on November 28, which may reflect a decrease of 3 thousand applications to 775 thousand applications compared to 778 thousand applications in the previous reading. Continuing for the past week, on the 21st of last month, a decrease of 156 thousand applications to 5,915 thousand applications compared to 6,071 thousand applications in the previous reading.

This comes, before we witness the release of the final reading of the Service Provisioning Institute index by Markit on America, which may reflect a contraction in the expansion to 57.5 compared to the initial reading of last month at 57.7 and compared to an expansion of 56.9 in October, all the way to reveal the reading of the Service Provision Institute index from Before the largest economy in the world, which may explain the contraction of the expansion to a value of 56.0 compared to 56.6 in October.

Technical analysis

The Australian dollar against the US dollar managed to touch our first awaited target at 0.7413 and is trying to breach it, which supports the expectations of extending the bullish wave in the intraday and short term, targeting 0.7530 as a next station.

The SMA 50 continues to support the price from below, to reinforce expectations of achieving more gains during the upcoming period, reminding you of the importance of holding above 0.7335 to continue the expected rise.

The expected trading range for today is between 0.7360 support and 0.7480 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. It opened trading last week with a rising gap.

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

Wednesday, December 2nd, today’s news—the US dollar is at the lowest since April 2018, investors turn to more risky and high-return assets amid the vaccine and stimulus hopes. Global markets are mixed after the strong start of the month, the US President-elect Joe Biden promises not to immediately cancel China tariffs imposed by Trump and phase one of the trade agreement. The price of Brent oil is $47.59, WTI—$44.70 EUR/USD is at 1.2059, GBP/USD—1.3357, gold is $1,827.00 per ounce.

Futures contracts for gold prices fluctuated in a narrow range that tends to decline during the Asian session, overlooking the decline of the US dollar index to its lowest since April 26, 2018, according to the inverse relationship between them on the cusp of developments and economic data expected today, Wednesday, by the US economy, the largest economy in the world, which Includes testimony by Fed Governor Jerome Powell before the US House of Representatives Financial Services Committee.

At exactly 05:58 am GMT, gold futures contracts for next February delivery fell 0.31% to trade at $ 1,813.50 an ounce compared to the opening at $ 1,819.10 per ounce, knowing that the contracts started the session on a rising price gap after yesterday's trading was concluded At $ 1,818.90 per ounce, while the US dollar index fell 0.04% to 91.16 compared to an opening at 91.20.

Investors are currently awaiting the American economy to reveal preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the acceleration of job creation to 433 thousand jobs compared to 365 thousand jobs last October, hours before the disclosure after Tomorrow, Friday, the monthly report on jobs other than agricultural and unemployment rates in addition to the average hourly income for the past month.

This comes before we witness the speech of Deputy Governor of the Federal Reserve and a member of the Federal Open Market Committee, Ratdal Quarles, about financial regulation at the Financial Times Global Digital Banking Conference, and before the second half of the actions of Federal Reserve Governor Jerome Powell about the "CARES" law before Congress, and that. Hours after yesterday, he delivered the first half of his testimony before the Senate Banking Committee.

We would like to point out that Powell yesterday warned lawmakers in Congress that the economy is still in a damaged and unconfirmed state, with his statement that recent news about the Corona vaccine is considered positive in the medium term, and he touched upon the continued recovery of economic activity despite the recovery being at a moderate pace and the pace of improvement in the market. Business is moderate too, adding that the current economic outlook is tinged with uncertainty and depends on the extent of the coronavirus outbreak.

Powell also touched during his testimony before Congress about the fact that the recovery of household spending H is due to the support provided by the Federal Reserve, explaining that the federal measures allowed the provision of $ 2 trillion in funding to support businesses, non-profit institutions and local governments, adding that the return of the high numbers of Corona sufferers is very worrying and that the Bank The Federal Reserve is committed to using all tools available to support the economy.

Technical analysis

Gold price stabilized above 1805.00, but it faces strong resistance formed by the EMA50, which may push the price to provide some temporary bearish bias before returning to resume the bullish bias.

The price needs to obtain enough positive momentum to push trades to breach the level of 1818.00 to confirm the rush towards achieving more expected gains during the upcoming sessions, to continue suggesting the bullish trend, provided that the price maintains its stability above 1795.00, as breaking this level will pressure the price to return to the main track The downside again, while the next positive target is located at 1838.10.

The expected trading range for today is between 1795.00 support and 1838.00 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 the beginning of September against the US dollar, following the economic developments and data that they followed on the Australian economy and on the cusp of economic developments and data expected today, Wednesday, by the US economy, the largest economy in The world, which includes the testimony of Federal Reserve Governor Jerome Powell before Congress about the lending program to cope with emergency epidemics.

At exactly 04:12 am GMT, the Australian dollar against the US dollar rose by 0.07% to 0.7376 levels compared to opening levels at 0.7371, after the pair achieved its highest level during the session’s trading at 0.7390, while the pair achieved its lowest level at 0.7366.

We have followed up on the Governor of the Reserve Bank of Australia, Philip Lowe, in his testimony before the Standing Committee for the Economy in the Australian House of Representatives in Canberra, that the Australian Central Bank has turned around a turning point in the economy, explaining that the economic expectations are significantly better than three months ago, but that it is likely to reach Unemployment rates are at their top in the 7% range, adding that people will likely continue to take a more careful approach to borrowing than they did before the Corona pandemic, and amid its assertion that the Reserve Bank of Australia is willing to do more if needed.

This came before we also witnessed by the Australian economy the release of the GDP index reading, which showed a 3.3% expansion versus a 7.0% contraction in the last second quarter, beating expectations that indicated a 2.5% expansion, while the annual reading of the same index showed a contraction of 3.8 % compared to 6.3% in the second quarter, also beating expectations, which indicated a contraction of the contraction to 4.4%.

On the other hand, investors are currently awaiting the US economy to reveal preliminary data for the labor market, with the release of the index of change in private-sector jobs, which may reflect the acceleration of job creation to 433 thousand jobs compared to 365 thousand jobs last October, hours before The disclosure on Friday of the monthly report for jobs other than agricultural and unemployment rates, in addition to the average hourly income for the past month.

This comes before we witness the speech of Deputy Governor of the Federal Reserve and a member of the Federal Open Market Committee, Ratdall Quarles, about financial regulation at the Financial Times Global Digital Banking Conference, and before the second half of the Fed Governor Jerome Powell's testimony about the "CARES" law before the Financial Services Committee. In the House of Representatives, after delivering the first half of his testimony yesterday before the Senate Banking Committee.

All the way to the talk of a member of the Federal Open Market Committee and the President of the New York Federal Reserve, John Williams, about the economic effects of the coronavirus in a webinar hosted by the Federal Reserve Bank in New York, before we witness the Federal Reserve’s disclosure of the report of the Big Book, whose importance lies in being issued before Two weeks after the FOMC meeting, which is scheduled for 15-16 this month.

Technical analysis

The Australian dollar against the US dollar returned to the upside after retesting the 0.7335 level, which supports the continuation of our bullish expectations, which get continuous support from the MA 50, with a reminder that our awaited targets start at 0.7413 and extend to 0.7530.

On the other hand, we should note that the continuation of the expected bullish wave depends on stability above 0.7335.

The expected trading range for today is between 0.7335 support and 0.7460 resistance

The expected general trend for today: Bullish