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The single currency, the euro, fluctuated in a narrow, upward sloping range during the Asian session, to witness its rebound to the tenth session in fourteen sessions from the lowest since July 24 against the US dollar on the cusp of developments and economic data expected today, Tuesday, by the largest economy in the euro area, Germany and the economy. The US is the largest economy in the world.

At 06:31 AM GMT, the euro pair rose against the US dollar by 0.09% to 1.1852 levels compared to the opening levels at 1.1841, after the pair achieved its highest level during the session's trading at 1.1855, while it reached its lowest level at 1.1837.

The markets are looking to Germany to unveil the final reading of the GDP, which may confirm the growth of 8.2% as indicated by the preliminary reading for the third quarter and against a contraction of 9.7% in the last second quarter, and this comes before we also witness from Germany the disclosure of the statistical reading of the GFK index of confidence Consumers, which may reflect a contraction of the breadth, to a value of 90.3 compared to 92.7 in last October.

On the other hand, investors are currently awaiting the US economy to unveil the housing market data, with the release of the house price index reading, which may indicate a slowdown in growth to 0.8% compared to 1.5% last August, in conjunction with the release of the annual reading of the S&P Composite Index - 20 for house prices, which may show growth accelerating to 5.3%, compared to 5.2% in the previous annual reading for August.

Down to the disclosure by the largest industrial country in the world of industrial sector data with the release of the Richmond Industrial Index reading, which may reflect a contraction of the expansion to a value of 20 versus 29 in October, in conjunction with the disclosure of the consumer confidence index reading, which may also appear. The breadth narrowed to 97.7, from 100.9 in October.

Other than that, we have just followed the announcement of the US Public Services Administration that Joe Biden has won the 2020 US presidential elections, to become the Democratic Party’s candidate for the forty-sixth US president to succeed Republican President Donald Trump, whose term ends on January 20 of next year 2021, the matter The next is the launch of a formal transition of power in the United States.

We also followed the report, which dealt with the fact that Biden is planning to nominate former Federal Reserve governor Janet Yellen for the position of Treasury Secretary, and this comes in the wake of the rare clash that occurred between the Treasury Department under the Trump administration with the Federal Reserve over the extension of the Fed's pandemic emergency lending program, especially after Treasury Secretary Stephen Mnuchin refused to extend the emergency loan programs created with the Federal Reserve.

Technical analysis

The euro versus dollar ended trading yesterday above the support of the bullish intraday channel after the sharp decline that it witnessed in the last sessions, which maintains the bullish trend scenario valid and effective for the upcoming period, which mainly targets 1.2011.

Note that holding above 1.1835 is important to achieve the awaited targets, as breaking it will put the price under negative pressure and an expected drop towards 1.1720 areas before any new attempt to rise.

The expected trading range for today is between 1.1780 support and 1.1940 resistance

The expected general trend for today: Bullish

The Australian dollar fluctuated in a narrow range sloping upwards during the Asian session, to witness its rebound to the eleventh session in seventeen sessions from its lowest since July 20 against the US dollar after Assistant Reserve Bank of Australia Governor in charge of the Risk Management Committee, Jay Debel, delivered a speech under the title "Monetary policy in 2020" at a satellite symposium of Australian business experts and on the cusp of economic developments and data expected today, Tuesday, by the US economy, the largest economy in the world.

At exactly 03:45 am GMT, the Australian dollar against the US dollar rose 0.36% to 0.7312 levels compared to opening levels at 0.7286, after the pair achieved its highest level during the session's trading at 0.7316, while it reached its lowest level at 0.7284.

The Assistant Governor of the Reserve Bank of Australia in charge of the Risk Management Committee, Jay Dibel, expressed a short while ago that he spoke at an event of Australian business experts two years ago in December 2018, and that in his speech at the time he addressed lessons and questions from the global financial crisis that occurred a decade ago. A long time ago, adding that the global economy is facing another crisis that takes a different shape, the source of the crisis this time is health, not financial.

Debel noted that the output contraction in the global economy and the Australian economy is greater than the 2008/2009 crisis, but the lessons learned from the financial crisis have contributed to reducing the impact this time and will help accelerate the ongoing recovery, noting that the lessons highlighted by the 2018 crisis, on top of which are that influence is important Pointing out that the regulatory response since 2008 aims to address influence at the core of the financial system, and that the targeted policy response is effective.

On the other hand, investors are currently awaiting the US economy to unveil the housing market data, with the release of the house price index reading, which may indicate a slowdown in growth to 0.8% compared to 1.5% last August, in conjunction with the release of the annual reading of the S&P Composite Index - 20 for house prices, which may show growth accelerating to 5.3%, compared to 5.2% in the previous annual reading for August.

Down to the disclosure by the largest industrial country in the world of industrial sector data, with the release of the Richmond Industrial Index reading, which may reflect a contraction of the expansion to a value of 20 compared to 29 last October, in conjunction with the disclosure of the consumer confidence index reading, which may appear The breadth also narrowed to 97.7, from 100.9 in October.

Other than that, we have just followed the announcement of the US Public Services Administration that Joe Biden has won the 2020 US presidential elections, to become the Democratic Party’s candidate for the forty-sixth US president to succeed Republican President Donald Trump, whose term ends on January 20 of next year 2021, the matter The next is the launch of a formal transition of power in the United States.

We also followed the report, which dealt with the fact that Biden is planning to nominate former Federal Reserve governor Janet Yellen for the position of Treasury Secretary, and this comes in the wake of the rare clash that occurred between the Treasury Department under the Trump administration with the Federal Reserve over the extension of the Fed's pandemic emergency lending program, especially after Treasury Secretary Stephen Mnuchin refused to extend the emergency loan programs created with the Federal Reserve.

Technical analysis

The Australian dollar versus the US dollar provided negative trades yesterday after it encountered strong resistance at 0.7340, to test the ascending triangle support that appears in the image, noting that the price is starting to rise now, waiting to surpass the mentioned resistance to confirm opening the way towards our main positive target at 0.7413...

From here, we will continue suggesting the bullish trend for the upcoming period, unless breaking 0.7270 then 0.7210 and holding below it.

The expected trading range for today is between 0.7260 support and 0.7400 resistance

The expected general trend for today: Bullish

Gazprom share continues to rise and reached the resistance level 184.75 after confirming the bullish path, 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 all the moving averages, which is a positive sign for a continuation of the bullish path.

While we have resistance at 201.50 and major support at 170.00.

We notice that the stochastic indicator exited from the overbought zone and this coincides with the price test of the resistance level, thus we may see a correctional decline in the price to the support level 170.00

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.

#MSFT

The overall trend is upward. The stock is trading in the range of 365 and 135 moving averages. The descending pattern of the H1 level is truncated. A bullish divergence has formed on Awesome Oscillator, while Stochastic Oscillator r signals oversold conditions. The price pivot zone of 208.09 holds back sellers.

#MSFT rate online: monitor the price movement in real time.

Trading recommendations:

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

Stop Loss: 208.09.

Target levels: 219.00; 225.00.

GBPUSD

The pair is trading above 1.3310 amid the renewed Brexit negotiations and the growing demand for risk assets, which weakens the US dollar.

Technical side:

The price is located above the middle Bollinger band, above SMA 5 and SMA 14. RSI is under the overbought zone and is growing smoothly, Stoch are reversing at the 50% level.

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

Trading recommendations:

If the pair fixes above 1.3310, it may grow further towards 1.3400.

GBPNZD

The currency pair is trading in the range of a descending price channel. At the same time, the support level of 1.9074 holds back sellers, Awesome Oscillator shows a bullish divergence, and the moving averages of Stochastic Oscillator showed an exit from the oversold zone and are directed upwards.

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

Trading recommendations:

Buy when an ascending pattern 1-2-3 is formed, where wave 1 breaks through the upper border of the descending price channel.

Stop Loss below the support level of 1.9074.

Target levels: 1.9400; 1.9620.

Monday, November 23rd, today’s news—service sector PMI in Germany is weaker than October's, lockdown may be extended into the next month as coronavirus cases rise. Vaccine hopes dominate the global markets: stocks of European and Asian companies rise, Dow is up 200 points, oil is rising, gold is falling, the dollar is down to 2018 lows. The price of Brent oil is $45.86, WTI—$43.09, EUR/USD is at 1.1879, GBP/USD—1.3362, gold is $1,868.15 per ounce.

The Australian dollar against the US dollar is crawling quietly to the upside, approaching a test of pivotal resistance at 0.7340, which represents the ascending triangle resistance whose features are shown in the image, which means that the breach of this level will form a good positive motive that supports the chances of a rush towards our main awaited target at 0.7413.

Thus, the bullish trend scenario will remain valid and effective for the upcoming period, supported by the EMA50, noting that stability above 0.7260 and 0.7210 levels is important for the continuation of the suggested ascend.

The expected trading range for today is between 0.7260 support and 0.7400 resistance

The expected general trend for today: Bullish

The US dollar fluctuated in a narrow range tilted towards a decline during the Asian session, to witness the resumption of its rebound from the high since October 20 for the seven in nine sessions against the Japanese yen amid scarcity of economic data at the beginning of this week by the Japanese economy due to the Thanksgiving holiday for workers In Japan, on the cusp of economic developments and data expected today, Monday, from the US economy, the largest in the world.

At 06:57 am GMT, the US dollar against the Japanese yen declined by 0.12% to 103.74 levels compared to the opening levels at 103.86, after the pair achieved its lowest level during the session's trading at 103.72, while it achieved its highest at 103.88.

Investors are currently looking to unveil the preliminary reading of the Markit Industrial and Service Purchasing Managers' Index from the United States of America, which may reflect the contraction of the industrial sector in the largest industrial country in the world to a value of 52.5 compared to 53.4 in the previous reading for last October, and the contraction The service sector expanded to a value of 55.8, compared to 56.9 in October.

Technical analysis

The dollar versus yen pair continues to fluctuate at 103.65, and the price is under the negative pressure that the 50 moving average is forming, while the stochastic oscillator starts to cross negatively now.

Thus, these factors support the chances of breaking the aforementioned level to open the way to heading towards 103.00 as a next negative station, bearing in mind that breaching 104.20 will stop the expected decline and push the price to achieve intraday gains that reach 105.20 before any new attempt to decline.

The expected trading range for today is between 103.00 support and 104.30 resistance

The expected general trend for today: Bearish.

Aeroflot stock returns to the upside after it managed to breach the resistance 68.30 in an attempt to end the bearish path and return to the upside again.

The price is moving above the moving averages 507-20- after it managed to breach it by the end of last week, which is moving near the support level 68.31 and pressures the price to continue rising.

The stochastic oscillator is moving within a sideways path in the overbought area, thus it tries to pressure the price to continue to rise

General path of movement: bullish