Analytic reviews

GBPUSD

The pair broke above the resistance level of 1.3310 amid the positive overall sentiment in the markets, as well as the hopes concerning the renewed Brexit negotiations.

Technical side:

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI under the overbought zone is turning down. Stoch have entered the overbought zone.

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

Trading recommendations:

Buy the pair with a probable growth to 1.3400.

USDCAD

A descending H4 level pattern is truncated. Awesome Oscillator shows a bullish divergence. The pivot of the 2 wave C H4 is broken by the formation of the assumed wave (A) of the ascending pattern. A breakout of the resistance level of 1.3096 will result in the formation of an ascending wave pattern.

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

Trading recommendations:

Buy at the breakout of 1.3096.

Stop Loss under the truncated pattern:1.3026.

Target levels: 1.3170 (specialist trap); 1.3264 (level 138.2%F).

#HD

The overall trend is upward. The stock is trading in the range of the lower limit of the accumulation zone. The descending pattern is truncated. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals an oversold condition.

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

Trading recommendations:

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

Stop Loss under the local minimum of the descending pattern (268.50).

Target levels: 288.80; 292.00.

Friday, November 20th, today’s news—the US Treasury Secretary Steven Mnuchin announced the end of emergency stimulus programs amid the pandemic. Global markets are mixed, Dow down 200 points, the dollar is stronger, gold and oil are rising. The price of Brent oil is $44.26, WTI—$41.91, EUR/USD is at 1.1870, GBP/USD—1.3265, gold is $1,866.35 per ounce.

The Australian dollar against the US dollar shows sideways trading in the past sessions, and maintains its stability above 0.7255, which keeps our bullish expectations valid and effective in the intraday and short term, supported by the SMA 50, waiting to visit 0.7413 as a next main target.

On the other hand, we should note that a break of 0.7255 then 0.7210 will stop the expected rise and pressure the price to test 0.7135 before any new attempt to rise.

The expected trading range for today is between 0.7240 support and 0.7370 resistance

The expected general trend for today: Bullish

The US dollar fluctuated in a narrow range slanting to rise during the Asian session against the Japanese yen, following the developments and economic data that were followed on Friday by the Japanese economy and amid scarce economic data in the last sessions of the week by the US economy, the largest economy in the world.

At 07:17 AM GMT, the US dollar against the Japanese yen rose by 0.08% to 103.82 levels, compared to the opening levels at 103.74, which is the lowest level for the pair during the session's trading, while the pair achieved its highest level during the session's trading at 103.91.

We have followed up on the Japanese economy revealing the inflation data with the release of the annual reading of the national consumer price index, which showed a contraction of 0.3% versus the stability at zero levels last September, worse than expectations that indicated a contraction of 0.3%, while the annual reading of the same excluded index Of which fresh food widened the contraction to 0.7%, in line with expectations from 0.3% in September.

In the same context, the annual reading of the consumer price index excluding energy and fresh food showed a 0.2% contraction, in line with expectations against stability at zero levels in September, and this came, before we witnessed the release of the preliminary reading of the manufacturing PMI by Markit on Japan, which showed that the contraction widened to 48.3, compared to 48.7 last October, missing expectations of 49.4.

On the other hand, we have just followed the Federal Reserve’s statement in which it stated that it “prefers that the full set of emergency facilities that were established during the Corona pandemic continue to play their important role as an anchor for our economy, which is still suffering from stress and weakness.” Fast-forward to US Treasury Secretary Stephen Mnuchin’s refusal to extend several emergency loan programs created in conjunction with the Federal Reserve.

We also followed yesterday the Federal Reserve’s issuance of the final rule for amending the annual valuation fee for its supervision and regulation of major financial firms. Otherwise, markets are looking forward later today to FOMC and Dallas Federal Reserve Chairman Robert Kaplan's speech on energy and economics at a conference hosted by the Bank. Dallas Federal Reserve.

Technical analysis

The dollar against the yen achieved a temporary rise yesterday, to test the 104.20 level, and bounce back down from there, to settle near the 103.65 support level again, which keeps the bearish trend scenario valid and likely for the upcoming period, supported by the negative pressure that the MA 50 represents, waiting for a negative stimulus to contribute Pushing the price to break the aforementioned support to confirm the extension of the descending wave towards 103.00.

So far, the bearish trend will remain valid and effective for the upcoming period, unless the 104.20 level is breached and stability above it.

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

The expected general trend for today: Bearish.

EURUSD

The pair is trading in the range of 1.1815–1.1890 amid the uncertainty, moving in a flat and wobbly trend.

Technical side:

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the 50% level and is turning down. Stoch have entered into the overbought territory.

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

Trading recommendations:

Sell the pair with a possible drop to 1.1815.

#GOLD

The support level of 1850.0 is holding back sellers. A descending truncated H1 level pattern has formed in the truncated wave (C) of the larger wave pattern. Awesome Oscillator shows a bullish divergence.

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

Trading recommendations:

Buy when an ascending wave pattern is formed.

Stop Loss under the support level 1850.0.

Target levels: 1898.0; 1931.0; 1960.0.

#MSFT

The overall trend is upward. The stock is trading in the range of 365 and 135 moving averages. The descending H1 level pattern is truncated. A bullish divergence has formed on Awesome Oscillator, while Stochastic Oscillator signals an oversold condition.

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

Trading recommendations:

Buy when an ascending wave pattern is formed.

Stop Loss: 209.50.

Target levels: 219.00; 225.00.

Thursday, November 19th, today’s news—European markets retreat once again on virus fears despite the new vaccine news. Asia-Pacific markets are mixed, China to cut tariffs and boost import, the dollar is stronger, oil prices fall. The price of Brent oil is $44.05, WTI—$41.56, EUR/USD is at 1.1829, GBP/USD—1.3213, gold is $1,853.75 per ounce.