Analytic reviews

Gold futures traded in a narrowly bullish range during the Asian session to see their rebound to its third-lowest session since December 4 as the US dollar rebounded to its third high since June 17, 2017 according to the relationship. On the eve of economic developments and data expected Tuesday by the US economy, the largest economy in the world and coincided with the speech of Chinese President Shi Jinning celebration of the fortieth anniversary of China's reform and opening up.

Gold futures for February delivery rose 0.05% to currently trade at $ 1,252.40 an ounce, showing a two-week drop from the opening at $ 1,251.80 per ounce, amid a drop in the US Dollar 0.05 index % To 97.05 compared to the opening at 97.10.

Investors are looking for the US economy to reveal housing market data with the Housing Starts and Building Permits reading for the last month. The Building Permits Index is expected to fall to 0.4% at 1,260K versus 0.6% at 1,263K. While the reading of the Construction Starts Index may indicate a slowdown in growth to 0.2% at 1.230 thousand homes, compared with 1.5% at 1,228 thousand.

Markets are also looking closely at the FOMC meeting to be held today and Wednesday in Washington, where monetary policy makers are expected to raise federal funds rates by 25 basis points for the fourth time this year to between 2.25% and 2.50% and move forward in reducing the repurchase of government bonds and mortgage bonds.

The Federal Reserve is expected to unveil growth and inflation expectations as well as future short-term benchmark interest rates for the next three years, looking for any hints about the future tightening of monetary policy and the pace of raising federal funds over the coming period in shadow. The US president's criticism of the Fed's radical policies and the recent momentum of economic data.

Technical Analysis

The price of gold has rallied significantly to break the 1238.30 level and is approaching the 1250.00 barrier now, which reinforces the bullish scenario scenario suggested in our recent reports, noting that closing the daily candlestick above the first level will confirm the continuation of the bullish trend towards 1262.51. New will put the price under negative pressure with the main target at 1208.40.

Where the price returned to trade above the moving average 7, therefore we have the ideal arrangement to return to the bullish scenario. This is reinforced by the fact that there is a positive cross in the Stochastic, so the bullish trend is likely for today

Support and resistance:

Support 128.4-1227.30-1221.8

Resistance: 1251.30-1257.00-1262.8

The general path so today is bullish

Google shares continue to fall under the negative pressure of the moving averages

Where the stock continues to fall from the rise achieved last week to continue the negative scenario for the share of more than 5 months

The Stochastic is giving negative signals to the price that will lead to further declines

The MACD is also floating below the zero level and is capping it towards the awaited target 995

Trades between support 995 and resistance 1060

The Australian dollar fluctuated in a narrow bullish range during the Asian session against the US dollar to see its rebound to a third session of its lowest since early November following the economic developments and data that followed on the Australian economy and on the eve of developments and economic data expected Tuesday by the US economy the world's largest economy.

At 0320 GMT, the AUDUSD rose 0.13% to 0.7188 compared to the opening levels at 0.7179, after reaching a high of 0.7200, while reaching a low of 0.7173.

We have followed the Australian economy to disclose the minutes of the Reserve Bank of Australia meeting held on December 4 in Sydney, in which monetary policy makers approved the setting of short-term benchmark interest rates at 1.50% for the 26th consecutive meeting, In line with analysts' expectations at the time.

On the other hand, investors are looking for the US economy to reveal the housing market data with the reading of the Construction Starts Index and the Construction Permit for the last month. The reading of the Building Permits Index is expected to decrease to 0.4% at 1,260,000 vs. 0.6% While the reading of the Construction Starts Index may indicate a slowdown in growth to 0.2% at 1.230 thousand homes compared to 1.5% at 1,228 thousand homes.

Markets are also looking closely at the FOMC meeting to be held today and Wednesday in Washington, where monetary policy makers are expected to raise federal funds rates by 25 basis points for the fourth time this year to between 2.25% and 2.50% and move forward in reducing the repurchase of government bonds and mortgage bonds.

The Federal Reserve is expected to unveil growth and inflation expectations as well as future short-term benchmark interest rates for the next three years, looking for any hints about the future tightening of monetary policy and the pace of raising federal funds over the coming period in shadow. The US president's criticism of the Fed's radical policies and the recent momentum of economic data.

Technical Analysis

AUDUSD tested the 0.7200 level yesterday, and the price is under continuous negative pressure coming from SMA 50, while Stochastic is showing negative signs now.

Therefore, we believe that opportunities are available to resume the bearish trend during the coming sessions, while targeting 0.7080 and then 0.7020 as the next major stations, noting that the continuation of the expected decline depends on stability below 0.7277.

The trading range for today is expected among the support at 0.7080 and resistance at 0.7220

The general trend for today is bearish

EURUSD

The pair remains within the range of 1.1265–1.1460, in expectation of the Fed’s meeting outcome and the eurozone consumer inflation data. The pair is growing locally due to the reached agreement over the Italian budget.

The price is below the middle Bollinger band, above SMA 5, but still below SMA 14. RSI is below the level of 50% and is slowly growing. Stoch are growing confidently.

Trading recommendations:

If the consumer inflation data in the eurozone indicate its drop, the pair may plummet to 1.1256 after passing 1.1310.

Gold futures traded in a narrow, sloping range during the Asian session to see their fifth session rebound in six sessions since July 11, shrugging off the negative stability of the US dollar index on the back of economic news and developments on Monday. By the US economy, the world's largest economy.

Gold futures for February delivery fell 0.03% to currently trade at $ 1,241.00 an ounce, showing a five-month high from the opening at $ 1,241.40 an ounce, while the US dollar index 0.01% to 97.44 compared to the opening at 97.43.

Investors are currently eyeing the US economy for the New York Manufacturing Index, which shows a contraction to 20.1 versus 23.3 last November, before we see US housing data released with the housing index reading by the National Association of Home Builders Which may reflect an expansion to $ 61 versus $ 60 in November.

Markets are also looking closely at the FOMC meeting to be held on Tuesday and Wednesday in Washington, where monetary policy makers are expected to raise federal funds rates by 25 basis points for the fourth time this year. Between 2.25% and 2.50% and move forward in reducing the repurchase of mortgage and government bonds.

The Federal Committee is expected to unveil inflation and unemployment as well as the future of short-term benchmark interest rates for the next three years as investors look for hints about the future tightening of monetary policy and the pace of raising federal funds in criticism. US President of the Federal Policy and the momentum of the strength of economic data recently.

Technical Analysis

The price of gold broke the level of 1238.30 and closed last week below it, which puts the price in front of possible negative pressure in the coming period and stops the positive scenario suggested in our recent reports, paving the way to visit the levels of 1215.00 and 1208.40 as primary stations.

Therefore, the bearish bias will be likely in the coming sessions unless the 1238.30 level is breached and stability is once again above it.

The moving average has broken below 7 and is trading below it and is heading towards the 20 moving average which is expected to limit the price drop at 1231.7

While the Stochastic is still in its steady downtrend towards the oversold area, which is a negative pressure on the price and pushing it towards the support levels

Support and resistance:

Support:1238.6- 1227.3 -1221.9-1211.9

Resistance: 1251.30-1257.00-1263.80

The trading range for today is among the key support at 1215.00 and resistance at 1250.00

The general trend for today is bearish

LONDON (Reuters) - The British pound weakened during the US session on Friday, capping its sixth consecutive weekly loss, which could reflect the longest weekly loss in three and a half years against the US dollar following developments and economic data followed Friday by the British economy and the US economy. the world.

At 7:16 pm GMT, the GBPUSD pair dropped 0.59% to 1.2569 compared to the opening levels at 1.22643 after reaching a low of 1.2530 and a high of 1.2667.

We have followed the British RSI reading of leading indicators, which showed a steady decline of 0.4% unchanged from last September. Otherwise, British Prime Minister Teresa Mae believed that it would be better for the UK to emerge from The European Union has agreed to an orderly exit and it is clear that the EU confirms its desire to conclude the agreement

In a similar vein, the British Prime Minister's spokesman said earlier that talks with the European Union at the summit yesterday are only the beginning and that there is a common desire between the United Kingdom and the European Union To reach a solution to the Pakstop plan, expressing the wish of May in a parliamentary vote on the exit agreement as early as next month.

On the other hand, we followed the US economy to reveal the reading of retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US gross domestic product, which showed slowing growth to 0.2% versus 1.1% in October, The core reading of the same index also showed a slowdown in growth to 0.2% in line with expectations versus 1.0% in October.

This came before the world's largest industrial producer saw the reading of the Industrial Production Index, which showed a rise to 0.6% from 0.2% in October, beating expectations of a 0.3% rise. Growth to 78.5% versus 78.1% in October, below expectations that accelerated growth to 78.6%.

Worse than expectations at 55.1, versus 55.4, before we see the growth of wholesale inventories accelerating to 0.6% in line with expectations and 0.5%.

Technical Analysis

GBP / USD is trading below 1.2636, and negative pressure remains intact over the short and medium term, awaiting the resumption of the bearish trend targeting 1.2500 initially.

A breach of this level would extend the downside wave to 1.2350, while a breach of 1.2636 would halt the expected decline and lead the price for gains starting at 1.2720 then 1.2835.

The moving averages continue to push the price towards further downside as the stochastic moves in a sideways path

The trading range for today is expected among 1.2480 support and 1.2650 resistance

Support and resistance:

Support: 1.2500-1.2405

Resistance: 1.2638-1.2713-1.2876

The general trend for today is bearish

The Australian Dollar (AUD) breached a narrowly bullish range during the Asian session against the US Dollar amid a lack of economic data from the Australian economy and on the eve of developments and economic data expected Monday by the US economy, the world's largest economy.

At 03:52 GMT, the AUDUSD rose 0.07% to 0.7177 compared with the opening levels at 0.7172, after reaching a high of 0.7182, while reaching a low of 0.7169.

Investors are currently eyeing the US economy for the New York Manufacturing Index, which shows a contraction to 20.1 versus 23.3 last November, before we see US housing data released with the housing index reading by the National Association of Home Builders Which may reflect an expansion to $ 61 versus $ 60 in November.

Technical Analysis

The AUDUSD gave negative trading last Friday to test areas of 0.7150, where the price is under continuous negative pressure formed by SMA 50, while stochastic loses its positive momentum gradually.

Therefore, our bearish outlook remains valid for the coming period provided stability remains below 0.7277, noting that the main awaited targets start at 0.7080 and extend to 0.7020.

The trading range for today is expected among the support at 0.7080 and resistance at 0.7220

The general trend for today is bearish

Sberbank successfully completed the bearish triangle pattern as the bottom line of the triangle has been breached, signaling the continuation of the bearish path and the rally towards the support level 150.00

This movement is done by pressure from the moving averages 7-20-50 which increases the negative pressure on the price.

At the same time, we see that the Stochastic has succeeded in entering the oversold area and this will reflect the price in further decline

Support and resistance:

Support: 186.00-179.20-150.00

Resistance: 193.8-205.4

The overall path is bearish

The single currency of the European Union region fell during the US session to its lowest level since November 28 and is poised to resume its weekly loss for the third week in four weeks against the US dollar following developments and economic data that followed on Friday the economies of the eurozone and the US economy. In the world, which included the summit of euro zone leaders in Brussels.

Germany's largest economy followed the reading of the wholesale price index, which showed a slower pace of growth to 0.2% from 0.3% in October, before we saw the initial reading of France's service and industrial PMI, which showed contraction of the sector Industrial at 49.7 versus 49.6 versus 50.8 and 55.1 in November, worse than expected at 50.7 and 54.8.

European Commission President John Claude Juncker said that the European Commission will make all preparations for the exit scenario of the United Kingdom without an agreement from the European Union and that all information on this matter will be published on the 19th of this month, adding that there will be no legal obligations to the European Union as a result of Britain's exit from him.

Junker also noted that despite major efforts by British Prime Minister Teresa Mae that she has not succeeded in achieving practical results within the British Parliament about the issue of Britain's exit from the European Union, adding that the European Commission does not want the UK to feel that there may be any chance To re-negotiations, and explained that the European Commission may provide some clarifications on the agreement, but there will be no further negotiations.

In another context, the Deputy Governor of the European Central Bank, Luis de Guindos that the European Central Bank needs to be cautious in the coming period and that the movement of markets with central policies, adding that the European Central to prepare for all possibilities, while European Central Bank member Iwald Novotni noted that the risks On the outlook for growth in the eurozone is still balanced and that the ECB sees inflation going towards the target.

This came hours after the ECB meeting, during which the interest rate was maintained at current zero levels and the marginal lending rate stabilized at 0.25% while maintaining a negative deposit rate of -0.40% amid the confirmation of the expiry of the quantitative easing program by the end of the month In addition to the press conference of ECB Governor Mario Draghi, which follows the meeting.

ECB Governor Mario Draghi noted that the European Central Bank expects interest rates to stabilize at zero levels until at least the summer of 2019 or later in line with the need for inflation to stabilize near the target in the near term. In future periods, adding that the economies of the euro area still needs to continue some degree of expansionary monetary policy.

On the other hand, we followed the US economy to reveal the reading of retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US gross domestic product, which showed slowing growth to 0.2% versus 1.1% in October, The core reading of the same index also showed a slowdown in growth to 0.2% in line with expectations versus 1.0% in October.

This came before the world's largest industrial producer saw the reading of the Industrial Production Index, which showed a rise to 0.6% from 0.2% in October, beating expectations of a 0.3% rise. Growth to 78.5% versus 78.1% in October, below expectations that accelerated growth to 78.6%.

To reach 53.4 compared to the preliminary reading of the current month and expectations at 54.7 compared to 55.4 in November. The industrial sector shrank to 53.9 from 55.3, worse than expected at 55.1, Versus 55.4, before we see the growth of wholesale stocks accelerating to 0.6% in line with expectations and 0.5%.

Technical Analysis

The EUR / USD pair attempted to breach the 1.1300 level last Friday but could not close the daily candle below it, but it is now floating around, but we note that the SMA 50 continues to pressure the pair negatively, so the bearish bias remains likely in the coming sessions. 1.1181.

The continuation of the downside move depends on the stability below 1.1443, as a breach will push the price to achieve positive targets starting at 1.1550 then 1.1705 in the near term.

The trading range for today is expected between 1.1200 and 1.1400 resistance

Support and resistance:

Support: 1.1300-1.1210-1.1180

Resistance: 1.1386-1.1443-1.1500

The general trend for today is bearish

AUDUSD

The pair is in downtrend against the backdrop of the weak Chinese industrial production data, which puts pressure on the Australia’s export of raw materials to the PRC.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving down. Stoch have entered the oversold zone.

Trading recommendations:

If the pair takes hold below 0.7200, it may result in a local drop to 0.7150 or even further down to 0.7200.