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Amazon tested the resistance level at 1693.8 but did not manage to breach this level due to the pressure from the 50 SMA which is a negative pressure on the price and pushing it down and testing the support level 1526.5

Stochastic gives bullish cross signals above the oversold area that may push the pair towards retesting the previous resistance level

The MACD is moving below the zero level and is heading towards breaching this level and if it does, it will push the price towards further downside

Support and resistance:

Support: 1526.5-1430.3

Resistance: 1693.8-1765.5

Gold futures fell during the US session amid the rise of the dollar index for the third session in four sessions of the lowest since 22 November last according to the inverse relationship between them after the developments and economic data that followed Thursday on the US economy, the world's largest economy and on the threshold Revealed the treasury budget for last month.

We have followed the US economy to reveal the reading of the index of requests for aid for the week ending on the eighth of this month, which showed a decline of 27 thousand applications to 206 thousand requests in the previous weekly reading, compared to expectations of 226 thousand applications, while the reading of the index of continuing requests for the week Which ended earlier this month, up 25K to 1,661K, worse than expected at 1,649K.

The import price index, which showed a drop of 1.6% from 0.5% in October, was worse than the 1.0% expected. The markets are currently looking to unveil the Treasury budget reading, which may reflect a widening deficit to 193.5 Billion compared to $ 100.5 billion in October.

In another context, on Tuesday we followed US President Donald Trump's criticism of the Federal Reserve's policy tightening policy under the leadership of Federal Reserve Governor Jerome Powell and raising interest rates on federal funds in Trump's interview with Reuters. "It would be foolish to do that, but what should I do?"

The US president said he wanted the Federal Reserve to cut interest rates to support the US economy externally, especially in the midst of a trade war with China and other countries, while praising the fact that the Federal Reserve Secretary Powell is a good man despite his disagreement with him, saying Powell believes He does what he believes to be true, but I think he is too hasty about raising interest rates in America.

On the other hand, former Federal Reserve Governor Janet Yellen warned yesterday of the possibility of a new financial crisis due to gaps in the banking system, especially the decline of powers of regulatory authorities in the face of any possible crises under the direction of US President Trump to reduce the restrictions, There is no doubt that there are still gaps in the American banking system.

This comes just a week before the Federal Open Market Committee meeting on December 18-19 in Washington, where Federal Reserve 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 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 shows negative trading near the pivotal support 1238.30. We note that SMA 50 continues to provide positive support for the price, so the bullish trend will remain effective over the coming period, which requires stability above this level, while our next target is at 1262.51.

Support and resistance:

Support: 1238.8-1227.4-1221.9

Resistance: 1251.4-1257.00-1262.8

The trading range for today is among the support at 1235.00 and resistance at 1262.50

The general trend for today is bullish

The Australian dollar fell significantly during the Asian session to clear the gains this week, adding that the resumption of the sixth session resumed in ten sessions of the 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 Friday from Ahead of the US economy, the world's largest economy.

At 03:52 GMT, the AUDUSD fell 0.57% to 0.7186, compared to the opening levels of 0.7227, after reaching a low of 0.7179, while the highest at 0.7229.

Investors are currently looking for 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 the US gross domestic product, which may reflect slowing growth to 0.2% from 0.7% in October, as may appear The core reading of the retail sales index slowed growth to 0.1% from 0.8% in October.

Before seeing the world's largest industrial producer release the industrial production index, which could reflect a faster growth rate of 0.3% compared to 0.1% in October, and reading the energy utilization index, which may show acceleration of growth to 78.6% compared to 78.4% Before we see the initial reading of the Industrial Purchasing and Service PMI Index from the United States.

Amid the expectations of shrinking the industrial sector to 55.1 compared to 55.3 last November and the stability of the expansion of the service sector at a value of 54.7, unchanged from the previous reading for the month of November, leading to the publication of the index of business stocks and Growth may accelerate to 0.6% versus 0.3% in September.

Technical Analysis

The Aussie dollar returned to the level of support at 0.7180 after reaching resistance at 0.7275 and rebounding from the moving average 7. The SMA 50 is strong support for the price

Since the price is below 0.7277, our bearish outlook remains valid for today, as a breach of this level will push the pair towards 0.7437 as the next correction target, with negative targets expected at 0.7080 and 0.7020.

The trading range for today is among the key support at 0.7140 and resistance at 0.7277

The general trend for today is bearish

The British pound rose during the American session to see its rebound for the second straight session from April 11, 2017 against the US dollar amid a lack of economic data by the British Royal Economy. Following the developments and economic data followed Thursday by the largest US economy World economy.

British Prime Minister Theresa May expressed her thanks to the Conservative members who supported her in a vote of no confidence, adding that she had heard well the concerns of Parliament about the UK exit agreement from the EU and that there was a need to end the exit agreement, explaining that her government would seek The legal and political guarantees that Britain needs

She said she would not comment on whether she would give up her post before the next election or not, noting that it was in the interest of all parties to reach an agreement on a planned exit of Britain from the European Union and that she did not expect immediate withdrawal. On behalf of the British government that it is possible to vote on the exit agreement during the next week depending on the development of talks with the European Union.

On the other hand, we followed the release of the reading of the index of US claims for the week ending on the eighth of this month, which showed a decline of 27 thousand requests to 206 thousand requests in the previous weekly reading, compared to expectations of 226 thousand applications, For the week ending with the beginning of this month, up 25 thousand applications to 1,661 thousand applications, worse than the expectations at 1,649 thousand applications.

The import price index, which showed a drop of 1.6% from 0.5% in October, was worse than the 1.0% drop, leading to a reading of the treasury budget which showed a widening deficit to $ 204.9 billion Compared to $ 100.5 billion in October, worse than expected, indicating the deficit widened to $ 193.5 billion.

Technical Analysis

GBPUSD offers more positive trading to breach the 1.2636 level and tries to maintain stability above it, which requires attention from the upcoming trades as closing the daily candle above this level will stop the negative scenario and push the price to recover in the short and short term.

The price is trading below the moving average 7 which is pushing the price to push it further downward.

The Stochastic is giving a bullish cross signal in a reversal of price action

So far, the downside scenario is still effective with the daily closing below 1.2636, noting that our first target is at 1.2500.

The trading range for today is expected among 1.2500 support and 1.2660 resistance

Support and resistance:

Support: 1.2495-1.2405-1.2350

Resistance: 1.2635-1.2737-1.2894

The general trend for today is bearish

The single currency of the European Union (EU) region fell during the US session to see its rebound to a third session in four sessions since November 20 against the US dollar following developments and economic data that followed Thursday on the economies of the euro zone and the US economy, the world's largest economy. Including the decisions and directions of the ECB monetary policy makers.

At 05:43 pm GMT, the EURUSD dropped 0.13% to 1.1354 compared to the opening at 1.1369 after the pair reached a low of 1.1331 and the highest at 1.1393.

We have followed Germany's final reading of the consumer price index, which showed a stable growth of 0.1%, unchanged from the prior November preliminary reading in line with expectations, versus 0.2% growth in October, before the disclosure of reading Of the same index for France, which showed a contraction of 0.2%, unchanged from initial reading and 0.1% growth in October.

This came ahead of the European Central Bank 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. , To the press conference of ECB Governor Mario Draghi, who followed the meeting.

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 to stabilize inflation near the target of 2 percent in the near term, adding that the path of monetary policy is subject to developments in the economic situation in the coming periods, That the economies of the eurozone still need to continue some of the expansionary monetary policy measures.

On the other hand, we followed the release of the reading of the index of US claims for the week ending on the eighth of this month, which showed a decline of 27 thousand requests to 206 thousand requests in the previous weekly reading, compared to expectations of 226 thousand applications, For the week ending with the beginning of this month, up 25 thousand applications to 1,661 thousand applications, worse than the expectations at 1,649 thousand applications.

The import price index, which showed a drop of 1.6% from 0.5% in October, was worse than the 1.0% expected. The markets are currently looking to unveil the Treasury budget reading, which may reflect a widening deficit to 193.5 Billion compared to $ 100.5 billion in October.

Technical Analysis

The EUR / USD pair is fluctuating around the 1.1360 level after approaching the 1.1400 level today, so that the downside scenario remains intact, relying on stability below 1.1443, supported by SMA 50, with a reminder that our awaited targets start at 1.1300 and then 1.1181.

Stochastic is trading near the oversold area in a sideways path that does not provide any clear signals for price action

Support and resistance:

Support: 1.1341-1.1300-1.1210

Resistance: 1.1386-1.1443-1.1500

The general trend for today is bearish

GBPUSD

The pair is consolidating above 1.2600 in expectation of the outcome of the EU Brexit summit. It can be assumed that the lack of a comprehensive deal or an unfavorable one for the UK may put the GBP rate under pressure.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is on the level of 50% and is moving horizontally. Stoch haven’t reversed downwards.

Trading recommendations:

If the pair goes below 1.2600 following negative EU news, it may go further down to 1.2465.

Gold futures traded in a narrowly bullish range during the Asian session amid the positive stability of the US dollar index according to the inverse relationship between them on the eve of developments and economic data expected Thursday by the US economy, the largest economy in the world.

Gold futures for February delivery fell 0.06% to currently trade at $ 1,249.30 per ounce from the opening at $ 1,250.00 per ounce, while the US dollar index rose 0.03% to 97.07 compared to the opening at 97.04..

Investors in the US economy are looking forward to the reading of the index of claims for the week ending December 8th, which may reflect a decline of 5 thousand requests to 226 thousand applications in the previous weekly reading, while the reading of the index of continuing claims for the week may appear at the beginning of this Month increase by 19 thousand to 1,650 thousand in the previous weekly reading.

While the reading of the import price index, which may reflect a decline of 1.0% against 0.5% in October, while the annual reading of the same index may show a slowdown in growth to 1.3% versus 3.5%, before we see the Treasury US Treasury budget reading, which may reflect a widening deficit to $ 193.5 billion versus $ 100.5 billion in October.

Technical Analysis

There is no change in the movement of gold from yesterday as the price of gold continues to move in a narrow path and maintains its stability above the pivotal support 1238.30, keeping the bullish scenario intact as it is supported by the SMA 50, noting that our next main objective is at 1262.51.

Gold is trading below the resistance level 1251.4 on a bullish path and is tacking more stability and support from the moving average 7 which is trading near the price below and gives it more stability to continue the upside and test resistance again

The stochastic has lost momentum and is out of the overbought area, signaling a correction to the price movement towards the previous support level.

The trading range for today is among the key support at 1238.4 and resistance at 1251.3

Support and resistance:

Support: 1238.8-1227.4-1221.9

Resistance: 1251.4-1257.00-1262.8

The British Pound rose more than 1% during the US session as it retreated from its lowest level since April 11, 2017 against the US Dollar amid a lack of economic data by the British Royal Economy. Following the developments and economic data that followed Wednesday on the US economy and concurrently with a vote by members of the British parliament on a referendum to withdraw confidence from the government of British Prime Minister Teresa May amid a report that it may receive the support of 158 members against 33 members.

GBPUSD rose 1.23% to 1.2641 compared to the opening levels at 1.2487 after the pair reached a high of 1.2671 and a 20-month low of 1.2478.

We have followed the statements of British Prime Minister Teresa Mai before the British Parliament before a vote of no confidence from her government, which expressed that the holding of early elections at the moment will not be in favor of the United Kingdom as well as the re-vote on Britain's exit from the European Union, The agreement means not to leave the EU, adding that it has made further progress in talks with EU leaders.

The pound sterling rebounded from its lowest level in 20 months with opportunities for May to overcome its challenge following a demand by the British Parliament earlier this week to postpone the vote on a British exit agreement from the European Union. There are talks with EU leaders about concerns about getting out of the EU.

Claims of the resignation of the government followed its failure in the task of exiting the European Union at the time, and some members of Parliament voted for that vote of no confidence.

Mai won the confidence of 200 MPs from the Muhajine party while 117 voted to withhold the vote

On the other hand, we followed the US consumer price index, which showed stability at zero levels in line with expectations compared to 0.3% growth last October, while the core reading of the same index showed a growth stability of 0.2% in line with expectations, and showed reading The index's annual growth slowed to 2.2% in line with expectations versus 2.5% in the previous year's reading.

In the same context, the core annual reading of the consumer price index accelerated growth to 2.2% in line with expectations compared to 2.1% in the previous annual reading for October, and the markets are currently looking forward to the reading of Treasury budget by the US Treasury, which may reflect the widening deficit to Compared with $ 100.5 billion in October.

Technical Analysis

The GBPUSD rallied strongly yesterday to retest 1.2636 again, keeping the daily close below it, keeping the bearish scenario intact so far, and the price needs a negative incentive to push the pair lower again.

In general, we continue to hold the bearishness below stability at 1.2636, noting that our awaited targets start at 1.2500 and extend to 1.2350.

The trading range for today is expected among 1.2500 support and 1.2660 resistance

Support and resistance:

Support: 1.2495-1.2405-1.2350

Resistance: 1.2635-1.2737-1.2894

The general trend for today is bearish

The single currency of the European Union region fluctuated in a narrowly bearish range during the Asian session against the US dollar on the eve of developments and economic data expected Thursday by the Eurozone economies and the US economy, the largest economy in the world.

At 5:11 am GMT, the EURUSD dropped 0.02% to 1.1367, compared with the opening at 1.1369, after reaching a low of 1.1365, while the highest at 1.1377.

Looking ahead to the markets for the largest euro area economies Germany, the final reading of the consumer price index, which may reflect the stability of growth of 0.1%, unchanged from the previous preliminary reading for the month of November, compared with 0.2% growth in October, before The final reading of the same index for France shows the second largest economy in the eurozone, which could reflect a contractionary stability of 0.2% versus 0.1% growth.

This comes ahead of the European Central Bank meeting, during which it is expected that interest rates will be maintained at current zero levels, the marginal lending rate will be stabilized at 0.25%, the interest rate will remain negative at 0.40% and the quantitative easing program will be announced. To the speech of ECB President Mario Draghi at the European Central Press Conference.

On the other hand, investors are looking for the US economy to read the index of claims for the week ending on December 8, which may reflect a decrease of 5 thousand requests to 226 thousand requests in the previous weekly reading, while the reading of the index of continuing claims for the week with Earlier this month rose by 19 thousand applications to 1,650 thousand in the previous weekly reading.

While the reading of the import price index, which may reflect a decline of 1.0% against 0.5% in October, while the annual reading of the same index may show a slowdown in growth to 1.3% versus 3.5%, before we see the Treasury US Treasury budget reading, which may reflect a widening deficit to $ 193.5 billion versus $ 100.5 billion in October.

Technical Analysis

The EUR / USD pair traded around 1.1365 after yesterday's rally, and the price is under continuous negative pressure coming from SMA 50, which supports the continuation of the expected bearish scenario over intraday and short term, which depends on stability below 1.1443. While its targets start with breaking the 1.1300 level to confirm the opening of the way towards the 1.1181.

The trading range for today is expected between 1.1260 and 1.1440 support

Support and resistance:

Support: 1.1341-1.1300-1.1210

Resistance: 1.1386-1.1443-1.1500

The general trend for today is bearish

Cisco Stock managed to bounce back from the support level of 46.30 to continue the long-term uptrend towards the top 49.12. Supported by the moving averages that support the price at 46.36

The Stochastic is giving a bullish cross over the oversold area, indicating a continuation of the bullish path

Support and resistance:

Support: 46.36-44.86

Resistance: 47.98-49.12

The trading range between support is 46.36 and resistance is 49.12