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The overall trend is upward. The stock is trading in the range of the moving averages 365 and 135. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator shows an oversold condition.

Trading recommendations:

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

Stop Loss: under the local minimum of the descending pattern.

Target levels: 95.74; 98.60.

Analysis based on round-number levels, price channels and modified Elliot Waves

CADCHF

The overall trend is upward. The currency pair is trading in the range of the moving averages 365 and 135. The descending H1 level pattern is truncated, Awesome Oscillator indicates a bullish divergence.

CADCHF rate online: keep track of the CADCHF price in real time.

Trading recommendations:

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

Stop Loss: under the local minimum of the H1 level pattern, 0.6930.

Target levels: 0.7043; 0.7100.

Tuesday, November 17th, today’s news—Moderna announced preliminary results of coronavirus vaccine trial, claims it's more than 94% effective. American and Asian markets reacted with growth, Dow neared the record mark of 30,000, European markets failed to join the rally, the dollar is weaker, Tesla to join S&P 500, Airbnb to go public. The price of Brent oil is $43.78, WTI—$41.26, EUR/USD is at 1.1869, GBP/USD—1.3221, gold is $1,890.40 per ounce.

AUDUSD

The ascending pattern is truncated. The 0.7340 resistance level is holding back buyers. A bearish divergence is forming on Awesome Oscillator.

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

Trading recommendations:

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

Stop Loss: beyond the resistance level 0.7340.

Target levels: 0.7220; 0.7156; 0.7000.

#ADS

The overall trend is upward. The price pivot zone of 268.50 holds back sellers. A breakout of through the resistance level of 279.00 will result in the formation of an ascending pattern of 1-2-3. Stochastic Oscillator signals an oversold condition.

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

Trading recommendations:

Buy on the breakout of 279.00.

Stop Loss: 268.50.

Target levels: 286.30; 306.50.

Futures contracts for gold prices fluctuated in a narrow range that tends to rise during the Asian session, to witness its rebound to the fifth session in seven sessions from its lowest since July 22, overlooking the positive stability of the US dollar index according to the inverse relationship between them on the cusp of developments and expected economic data today, Tuesday, The US economy was the largest in the world, and in the shadow of market pricing due to the positive results of Corona vaccines, against the outbreak of the second wave of the coronavirus globally, especially in Europe and the United States.

At 06:11 a.m. GMT, gold futures contracts for next December delivery rose 0.01% to trade at $ 1,888.30 per ounce, compared to the opening at $ 1,888.20 per ounce, knowing that the contracts started the session on a rising price gap after trading concluded Yesterday, at $ 1,887.80 an ounce, while the US Dollar Index rose 0.04% to 92.51 compared to the opening at 92.47.

Investors are awaiting the American economy to unveil the retail sales index, which represents about half of consumer spending, which accounts for more than two-thirds of the United States' GDP, and which may reflect slowing growth to 0.5% compared to 1.9% last September, as it may appear. The core reading of the same index slowed growth to 0.6%, compared to 1.5% in September.

This comes in conjunction with the release of the import price index reading, which may indicate a slowdown in growth to 0.2% compared to 0.3% in September, and before we witness the largest industrial country in the world disclosing industrial sector data with the release of the Industrial Production Index, which may reflect a rise of 1.1. This was compared to a decrease of 0.6% in September, in conjunction with the index reading of the energy utilization rate, which showed an increase to 72.3%, compared to 71.5% in September.

Up to the disclosure of housing market data with the release of the housing index reading by the National Association of Home Builders, which may reflect stability at a value of 85, with little change from what it was in the previous reading for last October, coinciding with the release of the final reading of the index Wholesale inventories, which may indicate an acceleration of growth to 0.5%, compared to 0.3% last August.

Technical analysis

Gold price continues to fluctuate around 1890.00 since yesterday, and the price needs to stabilize above this level to keep the bullish trend scenario valid and effective, waiting for a positive stimulus to push the price to breach the 1901.80 level to open the way to rally towards 1934.86, which represents our next positive target.

Consequently, we will maintain our bullish expectations, provided that it remains above 1890.00, noting that breaking this level will pressure the price to test 1860.90 areas again before any new attempt to rise.

The expected trading range for today is between 1875.00 support and 1920.00 resistance

The expected general trend for today: Bullish

The single currency, the euro, fluctuated in a narrow, bullish range during the Asian session against the US dollar, on the cusp of developments and expected economic data on Tuesday by the third largest economy in the euro area, Italy, and the US economy, the largest in the world.

At exactly 06:31 AM GMT, the euro pair rose against the US dollar by 0.03% to 1.1855 levels compared to the opening levels at 1.1852, after the pair achieved its highest level during the session's trading at 1.1867, while it reached its lowest level at 1.1851.

The markets are looking to Italy for the release of the trade balance indicator reading, which may reflect the widening of the surplus to a value of 4.30 billion euros compared to 3.93 billion euros last August. Otherwise, the markets are looking forward to the developments in the ongoing talks between the European Union and Britain regarding the British exit file. The European Union, especially with the near deadline.

We would like to point out that some of the report touched yesterday on the fact that Brussels called on London to take a decision regarding the talks, and that progress has been made on the legal texts of the new agreement between them, but that there are no mutually acceptable solutions to the fisheries file and equal opportunities, and it is mentioned that there is a report issued recently by 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 awaiting the US economy, as the retail sales index, which represents about half of consumer spending, which represents more than two-thirds of the US GDP, will be revealed, and may reflect slowing growth to 0.5% compared to 1.9% last September. The core reading of the same index may also show a slowdown in growth to 0.6%, compared to 1.5% in September.

This comes in conjunction with the release of the import price index reading, which may indicate a slowdown in growth to 0.2% compared to 0.3% in September, and before we witness the largest industrial country in the world disclosing industrial sector data with the release of the Industrial Production Index, which may reflect a rise of 1.1. This was compared to a decrease of 0.6% in September, in conjunction with the index reading of the energy utilization rate, which showed an increase to 72.3%, compared to 71.5% in September.

Up to the disclosure of housing market data with the release of the housing index reading by the National Association of Home Builders, which may reflect stability at a value of 85, with little change from what it was in the previous reading for last October, coinciding with the release of the final reading of the index Wholesale inventories which may show growth accelerating to 0.5%, compared to 0.3% in August.

Technical analysis

The EUR / USD pair resumed its positive trading after testing the 1.1820 level yesterday, which supports the continuation of the expected bullish trend scenario in the intraday and short term, as the MA 50 meets the aforementioned support to protect the suggested positive scenario, waiting for more upside to visit 1.2011, which represents our main target next one.

On the other hand, we should note that a breach of 1.1820 will stop the expected rise and pressure the price to visit 1.1720 areas before any new attempt to rise.

The expected trading range for today is between 1.1800 support and 1.1950 resistance

The expected general trend for today: Bullish

Gazprom share continues to rise after confirming the bullish path, after breaching the resistance 180.70 and closing above it. And also after exiting the descending channel that it was moving within.

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 198.50 and major support at 152.80.

We note that the stochastic indicator arrived from the overbought area and is moving sideways within this area and is still giving a more bullish signal. .

The price action will be between the support level 170.50 and the resistance level 198.50.

The general direction of the movement is up.

USDCAD

The pair is trading above 1.3065. It’s affected negatively by the rising crude oil prices, which in turn are rising following the new global trade agreement signed by Asian countries this weekend.

Technical side:

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

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

Trading recommendations:

Sell the pair after it crosses the 1.3065 with a possible decline to 1.2995.

Monday, November 16th, today’s news—China and 14 countries in the Asia-Pacific region sign a major trade deal that excludes the US. The region's markets are rising amid the deal, positive economic data in China and the vaccine cheer, European markets also rise, total number of COVID-19 cases in the US surpasses 11 million, the dollar is weaker, oil is up on the output curb hopes. The price of Brent oil is $43.34, WTI—$40.80, EUR/USD is at 1.1852, GBP/USD—1.3194, gold is $1,892.50 per ounce.