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The single currency, the euro, fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement of the third session from its highest since the ninth of November, when it tested its highest since the second of September against the US dollar on the cusp of developments and expected economic data on Thursday Before the economies of the eurozone as a whole and the US economy is the largest in the world, which includes ECB conservative Christine Lagarde's speech online.

At exactly 06:45 am GMT, the euro pair fell against the US dollar by 0.05% to 1.1848 levels compared to the opening levels at 1.1854, after the pair achieved its lowest level during the session's trading at 1.1832, while it achieved its highest at 1.1858, knowing that The pair opened the session on a rising gap, after ending yesterday's trading at 1.1853 levels.

The markets are looking to the economies of the euro area to reveal the seasonally adjusted reading of the current account index, which may reflect a contraction of the surplus to an amount of 18.1 billion euros compared to 19.9 billion euros last August, while the seasonally adjusted reading of the same index may show the expansion of the surplus to what It is worth 27.6 billion euros, compared to 21.8 billion euros in August.

According to the European Central Bank's speech, Christine Lagarde, at an event hosted by the Women’s Forum. Yesterday, I expressed that the EU considers the ongoing talks the last chance to reach an agreement.

On the other hand, investors in the US economy are awaiting the release of the aid requests reading for last week on the 13th of this month, which may reflect a decrease of two thousand requests to 707 thousand applications, and this comes in conjunction with the disclosure also by the largest industrial country in the world of sector data Industrials, with the release of the Philadelphia Industrial Index, which may reflect a contraction of the breadth to 22.0, compared to 32.3 last October.

Up to the disclosure of housing market data, with the release of the Existing Home Sales Index reading, which may show a 1.2% decline to about 6.45 million homes, compared to a 9.4% rise at 6.54 million homes last September, in conjunction with the release of the leading indicators reading that may reflect stability Growth at 0.7%, little change from the previous reading for September.

Technical analysis

The EUR / USD pair rebounded downwards after reaching the 1.1900 barrier yesterday, to test the support for the ascending channel that appears in the image, noting that the EMA 50 meets with this support to add more strength to it, while the stochastic indicator reaches the oversold areas now.

Consequently, these factors encourage us to suggest the bullish bias for the upcoming period, awaiting the direction towards 1.2011, which represents our next main target, bearing in mind that breaking 1.1825 will stop the expected rise and pressurize the price to decline towards 1.1720 before any new attempt to rise.

The expected trading range for today is between 1.1770 support and 1.1950 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 to the second session in three sessions from its highest since the ninth of November, when it tested its highest since September 16 against the US dollar after the developments and the economic data that followed it on The Australian economy is on the cusp of economic developments and data expected today, Thursday, by the US economy, the largest economy in the world.

At exactly 03:57 am GMT, the Australian dollar against the US dollar fell 0.18% to 0.7292 levels, compared to opening levels at 0.7305, after the pair achieved its lowest level during the session's trading at 0.7306, while it achieved the lowest level at 0.7284.

The Australian economy followed up with the disclosure of labor market data with the release of the unemployment rate reading, which showed a rise to 7.0% compared to 6.9% last September, contrary to expectations that indicated a rise to 7.1%, and this came with the employment change reading showing an increase. By 178.8 thousand, compared to a decline of 42.5 thousand in September, also surpassing expectations that indicated a decline of 26.7 thousand.

On the other hand, investors in the US economy are awaiting the release of the aid requests reading for last week on the 13th of this month, which may reflect a decrease of two thousand requests to 707 thousand applications, and this comes in conjunction with the disclosure also by the largest industrial country in the world of sector data Industrials, with the release of the Philadelphia Industrial Index, which may reflect a contraction of the breadth to 22.0, compared to 32.3 last October.

Down to the disclosure of housing market data, with the release of the Existing Home Sales Index reading, which may show a 1.2% decline to about 6.45 million homes, compared to a 9.4% rise at 6.54 million homes in September, in conjunction with the release of the leading indicators reading that may reflect the stability of growth. At 0.7%, little change from the previous reading for September.

Technical analysis

The Australian dollar versus the US dollar has shown sideways trading since yesterday, fluctuating around 0.7300, and the price needs to obtain positive momentum that will push the trades to resume the main bullish trend, which mainly targets 0.7413.

In general, we are continuing to suggest the bullish trend for the upcoming period, provided that it is stable above 0.7255 and 0.7210, noting that the SMA 50 supports the suggested bullish wave.

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

The expected general trend for today: Bullish.

Cisco share managed to reach the resistance level 42.10 with the opening of the week's trading. As the week opened with a rising gap.

Trading has become 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 38.50 support and 42.13 resistance.

The expected overall trend for today: Neutral.

#SIE

The stock is trading in the range of 365 and 135 moving averages directed upwards. Presumably, the downward movement is a correction. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals an oversold condition.

Trading recommendations:

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

Stop Loss at the local minimum of the expected correction: 110.60.

Target levels: 115.30; 119.20.

USDCHF

The 0.9087 support level is holding back sellers. The downward truncated pattern ended with the breakout of an inclined channel. A breakout through the resistance level of 0.9125 will result in the formation of an ascending wave pattern within the wave C of an ascending H4 level pattern. A bullish divergence has formed on Awesome Oscillator.

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

Trading recommendations:

Buy above 0.9125;

Stop Loss: 0.9087;

Target levels: 0.9189; 0.9240.

GBPUSD

After the news about the possible no-deal Brexit, sterling may come under pressure. So far, the pair is holding the 1.3220 level, but the situation may worsen.

Technical side:

The price is above the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the 50% level and is turning up. Stoch are entering the oversold zone.

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

Trading recommendations:

Sell the pair with a likely drop to 1.3115 after it crosses 1.3222.

The single currency, the euro, fluctuated in a narrow, bullish range during the Asian session against the US dollar on the cusp of economic developments and data expected today, Wednesday, by the economies of the euro area as a whole and the US economy, the largest economy in the world, which includes a speech by a member of the Federal Open Market Committee and President of the Federal Reserve Bank of New York John Williams.

At 06:45 AM GMT, the euro pair rose against the US dollar by 0.10% to 1.1874 levels compared to the opening levels at 1.1862, after the pair achieved its highest level during the session's trading at 1.1877, while it reached the lowest level at 1.1851.

The markets are looking to the Euro-zone economies to reveal inflation data, with the release of the final annual consumer price index reading, which may confirm a contraction of 0.3%, with little change from what it was in the initial reading for last month and the previous annual reading for last September. The core annual reading of the same index confirms a growth of 0.2% as well, unchanged from the previous annual reading.

On the other hand, the markets are looking forward to the developments of the ongoing talks between the European Union and Britain regarding the issue of Britain's exit from the European Union, especially with the approaching final deadline. To an agreement if circumstances permit.

It is noteworthy that some of the report touched at the beginning of this week that Brussels called on London to take a decision regarding the talks, and that progress has been made regarding the legal texts of the new agreement between them, but that there are no mutually acceptable solutions regarding the fisheries file and equal opportunities, and we have also recently followed the issuance of a report from the office British Prime Minister Boris Johnson spoke of Johnson's complete confidence that his country will prosper even if its negotiations with the European Union fail.

On the other hand, investors are currently awaiting the US economy to reveal the housing market data, with the release of both the Housing Starts Index and the Building Permit Index, and amid expectations that the building permits reading will reflect an increase to about 1.57 million permits, compared to about 1.55 million permits in September. Also, a reading of start-up homes may indicate an increase to about 1.45 million homes, compared to about 1.42 million homes in September.

This comes, before we witness the speech of a member of the Federal Open Market Committee and the President of the New York Federal Reserve, John Williams, in a webinar hosted by the Association for the Advancement of Editing and Writing. Long to cut him "before he fully recovered from the Corona pandemic, once again asking the US Congress to adopt an additional stimulus package.

Technical analysis

The euro versus dollar pair starts today's trading with a slight bullish tendency, indicating a direction to resume the main bullish trend, noting that the stochastic indicator continues to gather positive momentum, waiting to stimulate the price to rally upwards, and then visit our next main target at 1.2011.

Thus, we will continue suggesting the bullish trend for the upcoming period, noting that a break of 1.1820 will stop the expected rise and press the price to test 1.1720 areas before any new attempt to rise.

The expected trading range for today is between 1.1800 support and 1.1960 resistance.

The expected general trend for today: Bullish.

Sber bank's stock rebounded from the resistance 250.00 after reaching it yesterday in a correction to the strong bullish path that was formed after the stock managed to breach the upper bound of the descending channel it was moving within, after breaching several resistance levels.

The price is moving above the moving averages 50-20-7. Therefore, the price confirmed the upside path, and we await a re-test of the 250.00 level.

The current price action takes place between the 232.70 support and the 250.00 resistance level over the intermediate period which will be the primary targets of the price action.

General direction of movement: Bullish path

Wednesday, November 18th, today’s news—weak retail sales data in the US weighs on the global markets despite the new vaccine euphoria. The Fed's head talks about the need for further support for the economy, Asian markets are mixed following the overall strong Japan data, yet the carmaker stocks are down, oil prices are also mixed. The price of Brent oil is $43.67, WTI—$41.27, EUR/USD is at 1.1875, GBP/USD—1.3256, gold is $1,877.65 per ounce.

USDJPY
The pair dropped below the key level of 104.00 amid lower risk appetite in equity markets and weak data on retail sales in the US published on Tuesday.
Technical side:
The price is located below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. Stoch are reversing down.
USDJPY rate online: monitor the price movement in real time.

Trading recommendations:
Sell the pair with its probable drop to 103.25.