Analytic reviews

The EUR / USD pair rose in the Asian trading session narrowly affected by the European holiday and no news of the day

As the EURUSD opened the Asian session at 1.1382, recording a high of 1.1416

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

The EUR / USD pair is trading in a narrow range affected by the holiday of financial markets. Therefore, the bearish scenario will remain intact, which depends on stability below 1.1443, while its main targets are 1.1300 and 1.1181.

Stochastic is in a bearish direction towards the oversold area in a sign of bearish movement. While we expect the upper movement of the price for the moving averages that are currently moving under the price but does not provide any clear signals in light of the low liquidity from the market as a result of the holiday

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

Support and resistance:

Support: 1.1341-1.1300-1.1210

Resistance: 1.1386-1.1443-1.1500

The general trend for today is bearish

The Australian dollar fluctuated in a tight range sloping upward during the Asian session to see its rebound to its second lowest session since October 26 when it tested its lowest since February 11, 2016 against the US dollar amid tight economic data by the economy And on the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world.

At 3:14 am GMT, the AUDUSD rose 0.06% to 0.7040 compared with the opening levels of 0.7036, after recording a high of 0.7055 and a low of 0.7033.

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

The AUDUSD is trading near the 0.7020 level. The price is under negative pressure with the previously completed head and shoulders pattern, which supports the breach of the mentioned level towards 0.6920 which represents our next negative target. The bearish trend will prevail over the next period provided stability below 0.7130.

We push the moving averages on the price and wait for the SMA 20 to complete the SMA 50 to get an ideal bearish order.

At the same time moving the Stochastic within the oversold area in a negative signal to the price movement

The trading range for today is expected among the support at 0.6970 and the resistance at 0.7100

The general trend for today is bearish

Aeroflot continues to be sideways supported by the 7-50 moving averages forming a support level for the price.

The stock is trading around 101.20 support in the sideways direction

Note that SMA 20 is approaching the rest of the averages and waiting for the intersection to take a clear path

While the Stochastic is approaching the oversold area and this may be reflected in the price if the closing of the trading week below the level of support 101.20

Support and resistance:

Stays: 101.20-96.20-90.40

Resistance: 104.6-108.15-115.4

EURUSD

The pair is trading within the range of 1.1270–1.1490. It’s supported by some uncertainty concerning the Brexit situation, the reached compromise in the Italian budget issue and by the ECB’s decision to end quantitative easing this year. However, the pair’s still under pressure due to the Fed’s intention to continue raising interest rates that results in the price’s movement within the range.

The price us below the middle Bollinger band, on the level of SMA 5, but below SMA 14. RSI is below the level of 50% and is reversing downwards, Stoch have left the oversold territory.

Trading recommendations:

If the pair doesn’t go above 1.1400, it may continue down to 1.1270.

The single currency of the European Union region fell during the US session last Friday to see its rebound to its second highest session since November 7, while it is still in weekly gains against the US dollar following developments and economic data that followed on Friday the economies of the eurozone and the economy. The largest economy in the world.

At 05:04 pm GMT, the EURUSD dropped 0.38% to 1.1402 compared to the opening at 1.1446 after the pair reached a low of 1.1383 and a high of 1.1474.

We also followed Germany's import price reading, which showed a 1.0% drop from 1.0% in October, while the annualized reading showed slower growth to 3.1% versus 4.8%, in conjunction with a statistical reading of the GFK Consumer Confidence Index The German currency has stabilized at 10.4, unchanged from the previous reading for December, beating expectations of a 10.3 contraction.

This came before the French economy saw a final reading of Gross Domestic Product, which showed a 0.3% expansion from the previous preliminary reading of the third quarter and expectations of 0.4%, while the final annual reading of the index showed a stable growth of 1.4%, leading to the publication of the French consumer spending, 0.3% versus 0.9% in October, worse than expectations for stability at zero levels.

On the other hand, we followed the US economy to reveal the final reading of GDP for the third quarter, which showed the widest economy in the world 3.4% compared to the previous reading and expectations of growth of 3.5%, compared to growth of 4.2% in the second quarter, while reading GDP growth of 1.8% compared to the previous reading and expectations of growth of 1.7%, versus 3.0% growth in the second quarter.

This came in tandem with the Durable Goods Index, which accounts for almost half of consumer spending, which accounts for more than two-thirds of US GDP, which rose 0.8% from 4.3% in October, below expectations for a 1.6% rise. The core reading of the index itself showed a 0.3% drop from 0.2% in October, in contrast to expectations of a 0.3% growth rate.

We also followed the release of personal income and expenditure data last month, which showed a slowdown in personal income growth to 0.2% from 0.5% in October, worse than expectations for a slowdown in growth to 0.3%. 0.4% versus 0.8% in October, beating expectations that growth slowed to 0.3%.

The reading of Core Personal Consumption Expenditures showed growth stability at 0.1%, unchanged from October, below expectations for an acceleration of growth of 0.2%, while the reading of personal consumption depressing slowed growth to 0.1% vs. 0.2% As opposed to expectations for stability at zero levels, and the annual reading of the same index showed a slowdown in growth to 1.8% in line with expectations versus 2.0%.

This came in conjunction with the second and final reading of the University of Michigan Consumer Confidence Index, which showed a widening to 98.3 compared to the previous reading of the previous month and the previous reading for the month of November at 97.5, exceeding the expectations that indicated a widening at 97.6, with the sub-report of the index Economic conditions expanded to 116.1 versus 112.3 and economic expectations expanded to 87.0 versus 88.1.

Technical Analysis

The EURUSD confirmed stability below 1.1443 after Friday's closing below it, to reactivate the bearish scenario over the short and short term, targeting 1.1300 and 1.1181 after breaching the previous level.

Moving averages are moving close to each other as the SMA 50 has fallen to near the level at which the averages are moving 7-20 and price fluctuation is moving around these averages

Stochastic is providing a negative signal to support the expected decline, which requires stability below 1.1443, noting that the markets may witness a quiet trading today due to the holiday of most major banks.

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

The British currency fluctuated in a narrowly bullish range during the US session on Friday to see its seventh session rebound in eight sessions from its lowest since 11 April 2017 against the US dollar following developments and economic data that followed on Friday the royal economy British economy and his counterpart the largest economy in the world.

We have followed the British Royal economy to reveal the final reading of the GDP index, which showed a 0.6% expansion during the third quarter, consistent with the previous preliminary reading and forecasts, versus 0.2% growth in the second quarter. The final annual reading of the same index showed a 1.5% Also compatible with previous preliminary reading and projections.

This came in conjunction with the disclosure of the current account, which showed a widening deficit to 26.5 billion pounds compared to 20.0 billion pounds during the second quarter, worse than expectations at a deficit of 21.7 billion pounds sterling, and with the final reading of the index of total investment in business shrinking to 1.1% compared to the preliminary reading expectations at 1.2% decline, compared to 0.7% decline in the second quarter.

We also followed the release of the public sector net borrowing index, which showed that the surplus widened to £ 6.3 billion from £ 5.6 billion, which was revised from a surplus of £ 8.0 billion in October, below expectations of a surplus of £ 7.0 billion. Before we see the Bank of England's quarterly report.

On the other hand, we followed the US economy to reveal the final reading of GDP for the third quarter, which showed the widest economy in the world 3.4% compared to the previous reading and expectations of growth of 3.5%, compared to growth of 4.2% in the second quarter, while reading GDP growth of 1.8% compared to the previous reading and expectations of growth of 1.7%, versus 3.0% growth in the second quarter.

This came in tandem with the Durable Goods Index, which accounts for almost half of consumer spending, which accounts for more than two-thirds of US GDP, which rose 0.8% from 4.3% in October, below expectations for a 1.6% rise. The core reading of the index itself showed a 0.3% drop from 0.2% in October, in contrast to expectations of a 0.3% growth rate.

We also followed the release of personal income and expenditure data last month, which showed a slowdown in personal income growth to 0.2% from 0.5% in October, worse than expectations for a slowdown in growth to 0.3%. 0.4% versus 0.8% in October, beating expectations that growth slowed to 0.3%.

The reading of Core Personal Consumption Expenditures showed growth stability at 0.1%, unchanged from October, below expectations for an acceleration of growth of 0.2%, while the reading of personal consumption depressing slowed growth to 0.1% vs. 0.2% As opposed to expectations for stability at zero levels, and the annual reading of the same index showed a slowdown in growth to 1.8% in line with expectations versus 2.0%.

Technical Analysis

GBPUSD remains stuck between the pivotal levels of support 1.2636 and resistance 1.2725, keeping our neutrality in place until the price confirms a breach of one of these levels.

We will note that breaking the support will put the price under negative pressure to target levels starting at 1.2500, while breaching the resistance will stimulate the price to achieve more gains in the short term, where the positive targets start at 1.2820 and extend to 1.2962.

The trading range for today is expected among 1.2600 support and 1.2750 resistance

Support and resistance:

Support: 1.2636-1.2586-1.2500

Resistance: 1.2710-1.2780-1.2875

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

Gold futures rallied during the Asian session to stabilize near the top since June 25 as the US dollar index fell on the back of the global economic data as the Japanese market was absent due to the Emperor's birthday and early closing of the stock indices Australian and New Zealand and also a short session in America before they miss Tuesday to celebrate the Christmas holiday.

Gold prices are benefiting from the diversion of liquidity from high-risk stocks to precious metals, led by safe haven gold following the closing of US stocks last week, down about two percent for a third straight session to reflect its worst weekly performance since August. August of 2011 on Wall Street.

The Bloomberg news agency reported last weekend that the US president had discussed with his advisers the demobilization of Federal Reserve Governor Jerome Powell, in addition to concern that President Trump threatened to close the US government if Congress refused to finance the construction of the border wall to be built on the tape Border with Mexico.

However, US Treasury Secretary Stephen Manuchen later tried through his official Twitter account to reassure financial markets that Fed governor Paul would not be removed from office. He said he had spoken to the 45th President of the United States, Trump, about the matter and that Trump told him he did not propose Never dismissing Powell and not believing he had the right to do so.

China's Ministry of Commerce said on Sunday that the Beijing-Washington talks at vice-ministerial level on issues such as trade balance and strengthening intellectual property protection had been held earlier in the week and that the two sides had "exchanged views" and made progress, During its official statement on its website that both parties had discussions about mutual visits to each other coming.

Technical Analysis

The price of gold opens today with a significant increase to move above 1262.51, but it remains intact with the ascending corrective channel, accompanied by the start of Stochastic positive momentum loss, which supports the downside chances to resume the bearish trend suggested in our recent reports.

Therefore, we will continue to tilt the bearish trend in the coming sessions unless the 1269.00 level is breached and stability above it, with the reminder that our main target awaited at 1238.30.

The trading range for today is among the support at 1240.00 and resistance at 1275.00

Support and resistance:

Support: 1257.00-1251.3-1238.4

Resistance: 1262.8-1275.00-1286.9

The general trend for today is bearish

The New Zealand dollar fell during the Asian session to witness a rebound to the eighth session in 13 sessions of the highest since June 15 against the US dollar following developments and economic data that followed the New Zealand economy and on the eve of developments and economic data expected Thursday by the US economy largest economy In the world.

At 04:23 GMT, the New Zealand dollar fell 0.41% to 0.6739 from the opening levels of 0.6767, after hitting its lowest since November 13 at 0.6737, The session is trading at 0.6781.

We have followed the New Zealand economy to reveal GDP reading, which showed growth slowed to 0.3% from 1.0% in the second quarter, worse than the 0.6% growth forecast. The annual reading showed slower growth to 2.6% versus 3.2% Expectations for a growth of 2.8%, in conjunction with the trade balance index showed a contraction of the deficit to NZ $ 861 million, compared to NZ $ 1,317 million in October, beating expectations of a deficit of NZ $ 880 million.

On the other hand, investors are looking ahead to the US economy, the world's largest industrial producer, for the Philadelphia Manufacturing Index, which may reflect a widening to 15.6 from 12.9 last month, in conjunction with the reading of the index of claims for the week ending on 15 of this month, 13 thousand to 219 thousand requests, as may appear reading the index of continuing claims for the week of the week with the eighth month of the rise of 4 thousand requests to 1,665 thousand, before we see the disclosure of the reading of the leading indicators.

Technical Analysis

The New Zealand dollar against the US dollar resumed negative trading to test the 0.6700 barrier, awaiting further downside supported by negative pressure coming from SMA 50, relying on stability below 0.6795.

Our main target is at 0.6654.

The trading range for today is expected among the support at 0.6660 and resistance at 0.6800

The general trend for today is bearish

The Sberbank stock has rebounded towards the pattern it emerged from last week

The price is trading near the support level of 1.86.10 around the moving average 7 and below the moving averages 20-50 in a bearish movement where the moving averages are 20-50 resistance level

The Stochastic is giving a negative cross that stops the bullish movement it was trading in last week

Support and resistance:

Support: 186.00-179.20-150.00

Resistance: 193.8-205.4

The overall path is bearish

EURUSD

The pair is in uptrend following the solved Italian budget crisis and due to an uncertainty concerning Brexit, as well as locally weaker USD after the Fed’s monetary policy decision for the next year.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and is moving horizontally. Stoch aren’t informative.

Trading recommendations:

The pair still has the potential to go up to 1.1490, but it doesn’t pass this point, it will possibly reverse downwards to 1.1400. Sell it after it goes below 1.1445.