Analytic reviews

EURUSD

The pair remains within the range of 1.1270–1.1490 due to lower market activity during winter holidays. The pair is likely to remain within this range until the end of the year.

The price is above the Bollinger band, above SMA 5 and SMA 14. RSI is above the overbought territory and indicates weaker growth. Stoch have entered the overbought zone.

Trading recommendations:

There’s still potential for a local growth to 1.1490. Sell the pair at its growth from this point, or after it passes 1.1435 with a possible target of 1.1390.

Gold futures rose during the US session yesterday to witness the highest of June 19, excluding the US dollar index for the third session in five sessions of the lowest since 20 November last according to the inverse relationship between them following the developments and economic data that followed On Wednesday the largest economy in the world.

Before closing at a low of 1266.7 near the support level of 1262.8

We followed the US economy to reveal housing market data with the S & P Composite House 20 Index, which showed a slowdown in growth to 5.0% from 5.2% in the previous September reading, beating expectations of 4.8%.

This came ahead of the December reading of the Richmond Manufacturing Index, which showed a contraction to 8 versus growth from 14 in November, in contrast to expectations of a 16-year expansion.

Otherwise, the US president said on Tuesday that the government closure would continue until an agreement was reached, including the construction of a wall, fence or barrier along the border with Mexico, adding that the funding of the wall at $ 5 billion is negotiable but complicated, In seeing a border wall, while expressing confidence in Treasury Secretary Sevin Menuchin's decisions that the Federal Reserve is raising interest rates at a rapid pace.

Investors are currently waiting for the US economy to read the Jobless Claims reading for the week ending December 22, which could reflect a 6K increase to 220K in the previous week's reading. This month, down by 5 thousand applications to 1,673 thousand in the previous weekly reading.

In conjunction with the release of housing market data, which may reflect the acceleration of house price growth to 0.3% versus 0.2% in October before we see new home sales, which may rise 4.0% to 566 thousand homes compared to a decline of 8.9% To 544,000 in October, leading to a reading of the consumer confidence index, which may indicate a contraction of the widening to 133.0 versus 135.7 last month.

Technical Analysis

Gold continues its bullish course with steady trading above the support level at 1262.8. We need to close the day above 1270.0 to confirm the bullish movement

Strong gold is gaining from the moving averages that are moving in a bullish path with the moving average 20 surpassing the support level 1238.4 and moving average 7 near the price below.

The Stochastic is moving towards the overbought area in a positive signal for price action, but one must be aware of any possible cross-section which will lead to price correction.

The trading range for today is among the support at 1260.00 and resistance at 1285.00

Support and resistance:

Support: 1262.8-1257.00-1245.2

Resistance: 1270.00-1286.9

There is not change the movement of GBP/USD as the Sterling fluctuates in a tight range slippery during the US session against the US dollar amid a lack of economic data by the United Kingdom and following developments and economic data that followed Wednesday on the US economy, the largest economy in the world.

On the other hand, we followed the US S & P composite house price index's annual reading of 20, which showed a slowdown in growth to 5.0% from 5.2% in September, beating expectations of 4.8%. Rachmond Industrial shrank to a value of 8 versus growth at a value of 14 last November, contrary to expectations that indicated a growth to 16.

US President Donald Trump said on Tuesday that the government's closure would continue until a deal was secured to build a wall along the border with Mexico. The $ 5 billion financing of the wall was negotiable, and he expressed confidence in Treasury Secretary Sevan Menutchen's remarks. As the Federal Reserve raises interest rates at a rapid pace and comes amid the entry of the closure of the government for the fifth day in a row.

Investors are currently waiting for the US economy to read the Jobless Claims reading for the week ending December 22, which could reflect a 6K increase to 220K in the previous week's reading. This month, down by 5 thousand applications to 1,673 thousand in the previous weekly reading.

In conjunction with the release of housing market data, which may reflect the acceleration of house price growth to 0.3% versus 0.2% in October before we see new home sales, which may rise 4.0% to 566 thousand homes compared to a decline of 8.9% To 544,000 in October, leading to a reading of the consumer confidence index, which may indicate a contraction of the widening to 133.0 versus 135.7 last month.

Technical Analysis

GBPUSD continues to fluctuate between the pivotal levels of support 1.2636 and resistance at 1.2725 without being able to breach one yet. As noted in our recent reports, the price needs to confirm that one of these levels is breached to further define its next targets.

Therefore, our neutral position will remain so far, and to see the details of the expected targets of the breakthrough, please see our previous report.

The trading range for today is expected among 1.2580 support and 1.2725 resistance

The expected general trend for today: depends on the levels mentioned in the report

The single currency of the European Union region fluctuated in a narrowly bullish range during the US session against the US dollar amid a lack of economic data from the Eurozone economies and following developments and economic data that followed Wednesday on the US economy, the largest economy in the world.

On Sunday, the Italian Senate voted to approve the Italian government's budget proposal for 2019, which was agreed upon with the European Union. Context The European Commission recently reported that Italy has avoided punitive measures against violations of EU budgetary laws.

On the other hand, we followed the US S & P composite house price index's annual reading of 20, which showed a slowdown in growth to 5.0% from 5.2% in September, beating expectations of 4.8%. Rachmond Industrial shrank to a value of 8 versus growth at a value of 14 last November, contrary to expectations that indicated a growth to 16.

US President Donald Trump said on Tuesday that the government's closure would continue until a deal was secured to build a wall along the border with Mexico. The $ 5 billion financing of the wall was negotiable, and he expressed confidence in Treasury Secretary Sevan Menutchen's remarks. As the Federal Reserve raises interest rates at a rapid pace and comes amid the entry of the closure of the government for the fifth day in a row.

Investors are currently waiting for the US economy to read the Jobless Claims reading for the week ending December 22, which could reflect a 6K increase to 220K in the previous week's reading. This month, down by 5 thousand applications to 1,673 thousand in the previous weekly reading.

In conjunction with the release of housing market data, which may reflect the acceleration of house price growth to 0.3% versus 0.2% in October before we see new home sales, which may rise 4.0% to 566 thousand homes compared to a decline of 8.9% To 544,000 in October, leading to a reading of the consumer confidence index, which may indicate a contraction of the widening to 133.0 versus 135.7 last month.

Technical Analysis

The EUR / USD pair is still fluctuating around the moving averages and maintains its stability below the pivotal resistance 1.1443. Therefore, our bearish outlook remains unchanged as it is supported by Stochastic negativity, noting that our awaited targets start at 1.1300 and extend To 1.1181 after breaking the previous level.

The trading range for today is expected among 1.1300 support and 1.1443 resistance

Support and resistance:

Support: 1.1341-1.1300-1.1200

Resistance: 1.1386-1.1443-1.1500

The general trend for today is bearish

Csco shares continue to fall under the influence of the double-top reversal pattern and the breach of the previous bottom at 41.17

The stock is affected by the negative results of the US indices, especially the technology sector indices

The moving averages are pressuring the pair to move lower as the price is moving back at the moving average 7. The average 20 moves with the 50 average at the same level and is a strong resistance to the price.

Stochastic in the oversold area and waiting for an exit from it and if this is possible we can see a larger rebound in price

The Australian dollar fluctuated in a tight range slipping during the Asian session to see its rebound for the ninth session in seventeen sessions of its highest since August 9 against the US dollar amid a lack of economic data by the Australian economy and on the eve of developments and economic data expected on Thursday from Ahead of the US economy, the world's largest economy.

At 4:18 am GMT, the AUDUSD fell 0.16% to 0.7055, the pair's lowest level during the session compared to the opening levels at 0.7066, while the pair reached a high of 0.7078.

Investors are currently waiting for the US economy to read the Jobless Claims reading for the week ending December 22, which could reflect a 6K increase to 220K in the previous week's reading. This month, down by 5 thousand applications to 1,673 thousand in the previous weekly reading.

In conjunction with the release of housing market data, which may reflect the acceleration of house price growth to 0.3% versus 0.2% in October before we see new home sales, which may rise 4.0% to 566 thousand homes compared to a decline of 8.9% To 544,000 in October, leading to a reading of the consumer confidence index, which may indicate a contraction of the widening to 133.0 versus 135.7 last month.

Technical Analysis

The AUDUSD is trading slightly above the 0.7060 level now, noting that Stochastic is showing negative signs now, waiting for the pair to resume the bearish trend whose targets start with a break of 0.7020 to confirm the opening of 0.6920 as a next stop.

Therefore, we will continue to lower the bearishness until 0.7120 is breached and stability above it.

The trading range for today is expected among the support at 0.6980 and the resistance at 0.7100

The general trend for today is bearish

AUDUSD

The pair is in downtrend, above 0.7035, as commodity and raw material prices are falling, while the major American stock index futures are also falling. Yesterday’s demand for risk assets seems to be a dead cat bounce: a brief recovery before resuming the decline.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and has reversed downwards. Stoch are falling.

Trading recommendations:

If the pair goes below 0.7035, it may go further down to 0.6950.

USDCAD

The pair is in uptrend above 1.3565 as the crude oil prices are falling again and the Fed is expected to resume its high interest rates policy.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is on the level of the overbought territory. Stoch have left the zone.

Trading recommendations:

If the pair remains above 1.3565, it may continue going up to 1.3700 against the backdrop of decreasing oil prices.

Gold futures rallied during the Asian session, their highest since June 20, defying the positive stability of the dollar index according to the inverse relationship between them on the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world.

Gold futures for February delivery rose 0.31% to currently trade at $ 1,275.70 an ounce, the highest in six months compared to the opening at $ 1,271.80 per ounce, while the dollar index rose 0.01% to Levels of 96.59 compared to the opening at 96.58.

The markets are currently looking for the US economy to release housing data with the S & P House Price Index reading, which may show a slowdown in growth to 4.8% versus 5.1% last September, before we see the Richmond Industrial Average reading which may reflect Extending from 16 to 14 last November.

Elsewhere, gold prices continue to benefit from the shift from high-risk stocks to precious metals, led by the yellow metal, which is a safe haven following US stocks closing for the fourth session in a row, To reflect last week's worst weekly performance since August 2011 on Wall Street.

Technical Analysis

The price of gold starts today with a positive positive to attack the resistance of the corrective correction channel and is trying to hold it above it, which makes it preferable to stop the neutral temporarily to monitor the behavior of the price for the level of 1270.00 as stability with daily closing above it will confirm the continuation of the upward trend towards 1286.70 as a positive next station, Without it again will re-activate the scenario of the downward trend targeting 1238.30 areas mainly.

The moving averages support the price for further upside and the Stochastic is approaching the buy saturation area in reference to the strength of the price

The trading range for today is among the support at 1260.00 and resistance at 1285.00

Support and resistance:

Support: 1262.80-1257.00-1251.3

Resistance: 1275.00-1286.00

The expected general trend for today: neutral

The pair rose against the dollar in today's Asian trading session narrowly affected by the European holiday and no news of the day

Where the GBPUSD opened the Asian session at 1.2663, recording a high of 1.2716

The markets are currently looking for the US economy to release housing data with the S & P House Price Index reading, which may show a slowdown in growth to 4.8% versus 5.1% last September, before we see the Richmond Industrial Average reading which may reflect Extending from 16 to 14 last November.

Technical Analysis

GBP / USD has not seen any strong movement in the past sessions, keeping the 1.2636 and 1.2725 support keys intact, so we continue to neutral so far, noting that breaking this support will press the price to initially visit 1.2500, while A breach of resistance will lead the price to achieve positive targets starting at 1.2820 then 1.2962.

The trading range for today is expected among 1.2600 support and 1.2800 resistance

The expected general trend for today: depends on the levels mentioned in the report