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The Australian dollar fluctuated in a narrow bullish range during the Asian session to see its rebound for the second consecutive session from its lowest since November 13 against the US dollar following developments and economic data that followed on the Australian economy and on the eve of developments and economic data expected on Tuesday from Ahead of the US economy, the world's largest economy.

At 02:58 GMT, the AUDUSD rose 0.11% to 0.7198 compared to the opening levels of 0.7190, after reaching a high of 0.7208, while reaching a low of 0.7185.

We followed the release of the Australian housing market data with the reading of the house price index, which showed a widening of the decline to 1.5% in line with expectations compared to 0.7% in the second quarter, and the annual reading of the same index showed the widening decline to 1.9% compared to 0.6% in the annual reading Prior to the second quarter, outperforming expectations at 2.0%.

This came in conjunction with the release of the National Bank of Australia's Business Confidence Index, which showed a contraction of 3 to 5 in October, hours after Assistant Secretary of the Australian Reserve Bank of Financial Markets Christopher Kent said yesterday in Sydney that The next step is likely to be to raise interest rates and there is also nothing to prevent them from being cut if necessary.

On the other hand, investors are looking for the US economy to release the Producer Price Index (PPI), which is a preliminary index of inflationary pressures, which may reflect stability at zero levels versus 0.6% growth in October, while the annual reading of the same index may show growth slowing to 2.5% Compared with 2.9% in the previous annual reading for the month of October.

In the same context, the core reading of PPI may show a slowdown of 0.1% vs. 0.5% in October, and the core annualized reading of the same index may reflect a slowdown in growth to 2.5% from 2.6% in the previous October reading , And comes hours before the disclosure on Wednesday on the reading of the consumer price index, which may confirm the slow growth of inflationary pressures during the past month.

Technical Analysis

The AUDUSD gave negative trading yesterday and started attacking the 0.7200 level, confirming expectations that the bearishness will continue over the short and medium term, awaiting further bearishness towards 0.7080 and 0.7020 which is our next major stop.

SMA 50 continues to support the suggested bearish wave, which requires stability to remain below 0.7277.

The trading range for today is among the key support at 0.7120 and resistance at 0.7277

The general trend for today is bearish

The British pound weakened by more than 1.5% during the US session to its lowest level since 14 of April 2017 against the US dollar following developments and economic data followed Monday by the British Royal Economy and the US economy, the largest economy in the world, which included a claim British Prime Minister to postpone the vote on the British exit agreement from the European Union.

On the UK's RSI, the Industrial Production Index, which showed a decline of 0.9% from 0.1% in September, was worse than expectations for stability at zero levels. Industrial Production Index showed a 0.6% decline versus stability at levels Zero in September, also worse than expectations, which indicated a 0.4% decline.

This came in conjunction with the release of the reading of the trade balance of goods, which showed the widest deficit to £ 11.9 billion, compared to £ 10.7 billion, in contrast to expectations that the deficit contracted to £ 10.5 billion. The Services Index for the three months ending in October, October growth slowed to 0.3% in line with expectations versus 0.4% in the previous three-month reading in September.

To-date reading of GDP, which showed a 0.1% growth in line with expectations versus stability at zero levels in September, before the National Bureau of Statistics reported its sixth GDP estimate, which indicates the RBA expanded 0.3% in the last three months November versus 0.4% in the previous three-month estimate in September.

The British pound is still under pressure from growing opportunities for Britain to leave the EU irregularly, especially after Prime Minister Theresa May asked the British Parliament in London to postpone the vote on a British exit agreement from the EU, stating that the deal would have been rejected. Frank in parliament and that there will be talks with EU leaders about concerns about getting out of the union.

In his speech to parliament, Mai declined to comment on the possible date of the vote, noting that there was unlikely to be another vote before January 21 and that her government was seeking to enable parliament to control the Pakstop plan further. It is clear that Backstop will be temporary, explaining that it has no doubt that the current agreement is the best.

The resignation of the government following its failure to leave the European Union, and some members of parliament voted to withdraw confidence from the May government, which calls for a postponement of the vote on the British exit agreement from the Union hours before the parliament is scheduled to vote on the agreement on Tuesday. In order to renegotiate with the European Union, which had previously stated that it would not renegotiate the agreement reached.

On the other hand, we followed the US economy from a statistical reading of employment opportunities and job turnover, which showed a rise to 7.08 million from 6.96 million in September, below expectations of 7.22 million, coming hours after the disclosure of labor market data for the last month. Showed its lowest unemployment rate since 1969 at 3.7% for the third month in a row, in line with expectations.

In the same context, the average hourly income reading last Friday also showed growth accelerated to 0.2% from 0.1% in October, below expectations of 0.3%, while the Non-Farm Employment Change Index showed job creation slowing to 155K Adding an added 237,000 jobs in October, worse than expectations for 198,000 jobs.

Technical Analysis

The GBPUSD came under strong negative pressure yesterday after the decision to postpone the parliamentary vote on Britain's exit from the European Union, which pushed the price to break the 1.2636 level and close the daily candle below it, which puts the price under more negative pressure expected in the coming period, where he touched The next negative target mentioned in our latest technical update at 1.2500, and we expect the bearish bias to continue in the short term.

Stochastic is providing a negative sign to support further bearishness, extending the next target to the 1.2350 area, keeping in mind that a breach of 1.2636 and stability above it will provide initial positive opportunities to start attempts to offset losses suffered by the pair in recent sessions.

The trading range for today is expected among 1.2450 support and 1.2650 support

The general trend for today is bearish

The single currency of the European Union region fluctuated in a narrowly bullish range against the US dollar on the brink of economic developments and data expected on Tuesday by Eurozone economies and the US economy, the world's largest economy.

At 04:54 GMT, the EURUSD rose 0.10% to 1.1367, compared with the opening at 1.1356 after the pair hit a high of 1.1370 and a low of 1.1351.

The market is currently looking for ZEW economic sentiment for the month of December on the German economy, the largest economy of the euro area and the economies of the euro zone as a whole, which may reflect the widening decline in Germany to 25.0 compared to 24.1 last November, The same reading for the economies of the region as a whole may show a widening decline to 23.2 versus 22.0 in November.

On the other hand, investors are looking for the US economy to release the Producer Price Index (PPI), which is a preliminary index of inflationary pressures, which may reflect stability at zero levels versus 0.6% growth in October, while the annual reading of the same index may show growth slowing to 2.5% Compared with 2.9% in the previous annual reading for the month of October.

In the same context, the core reading of PPI may show a slowdown of 0.1% vs. 0.5% in October, and the core annualized reading of the same index may reflect a slowdown in growth to 2.5% from 2.6% in the previous October reading , And comes hours before the disclosure on Wednesday on the reading of the consumer price index, which may confirm the slow growth of inflationary pressures during the past month.

Technical Analysis

Yesterday, the Euro reached resistance level 1.1443 and failed to breach it to rebound towards the support level 1.1341, under the negative pressure of the moving average 50

If the price under the previous resistance will remain bearish trend

The pair is trading above the 7-20 moving averages which support the price near 1.1341

Price Formed An upside-down head and shoulders pattern. and the down movement may be the move towards the neckline.

The stochastic is moving in a sideways trend

We are trading between support 1.1294 and resistance 1.1443

Support and resistance:

Support: 1.1341-1.1294-1.1210

Resistance: 1.1386-1.1343-1.1500

The general path of the movement: Down

There has been no change in the price of Sberbank share as the stock continues to fluctuate within the triangle and wait for a break in the triangle to confirm the trend.

The moving averages are trading in a sideways path where the SMA 50 is support for the price while SMA 20 is resistance

The Stochastic has formed a bearish cross at the beginning of last week and is currently on a downtrend heading towards the oversold area.

The MACD is trading above the zero line but is in a bearish direction and this line is expected to be breached this week.

In general, there is no clear direction for the long-term price movement and wait for the breach to confirm the trend.

Support and resistance:

Support: 193.15-186.00-179.20;

Resistance: 206.00-215.00.

Gold futures fluctuated in a tight range in the Asian session, the highest since July 11, as the US dollar index fell to its lowest level since November 22, according to the latest economic developments. The world's largest consumer of metals and its Japanese counterpart, the world's third largest economy, on the brink of economic developments and data expected Monday by the US economy, the world's largest economy.

Gold futures for February delivery rose 0.14% to currently trade at $ 1,254.30 an ounce, the highest in five months compared to the opening at $ 1,252.60 an ounce, amid the decline of the US dollar 0.07% Levels of 96.44 and the lowest in three weeks compared to the opening at 96.51.

We have followed the Chinese economy reading the trade balance index, which showed a surplus of 306 billion yuan, or 44.7 billion yuan, compared to 234 billion yuan, equivalent to 34.0 billion dollars last October, contrary to expectations that the reduction of surplus To 227 billion yuan, or $ 36.2 billion, as import growth slowed to a slower pace than last month's export growth.

We also followed the Chinese economy to reveal inflation data with the release of the annual consumer price index, which showed a slowdown in growth to 2.2% compared to 2.5% the previous annual reading for the month of October, below expectations of 2.4%, and the annual reading of the PPI slowdown Growth to 2.7% compared to 3.3% in the previous annual reading, also below expectations at 2.8%.

This came before the Japanese economy saw the seasonally adjusted GDP GDP rise, which showed a contraction of 0.6% compared to the previous third quarter reading, which showed a contraction of 0.3% and 0.7% growth in the previous quarter, worse than expected. Indicated a contraction of 0.5%.

The seasonally adjusted annual GDP reading of the world's third-largest economy also showed contraction to 2.5% compared to the previous third quarter preliminary reading, which showed a 1.2% contraction versus 3.0% annualized growth in the second quarter, also worse than expected To a contraction of 2.0%.

In the same context, the annualized reading of GDP showed a stable contraction of 0.3%, unchanged from the previous preliminary reading of the third quarter, in line with expectations, and against 1.0% growth in the second quarter. This coincided with the release of the current account which showed The spread narrowed to 1.21 trillion yen from 1.33 trillion yen in September, worse than the 1.29 trillion yen forecast.

On the other hand, investors are looking for the US economy to publish a statistical reading employment opportunities and job turnover, which may reflect a rise to 7.22 million versus 7.01 million in September, coming hours after the disclosure of labor market data for the last month which showed that showed stability rates Unemployment at its lowest since 1969 at 3.7% for the third month in a row, consistent with expectations.

In the same context, the average hourly earnings report showed growth accelerated to 0.2% from 0.1% in October, below expectations of 0.3%, while the Non-Farm Employment Change Index showed a slowdown in job creation to 155,000 added jobs 237 thousand jobs added in October, worse than expectations for 198 thousand added jobs.

The growing concern over tensions between Washington and Beijing after Chinese Foreign Minister Terri Pranstad's call to the US ambassador to protest against the arrest of Huawei's chief financial officer in Canada, which could be handed over to the United States, which accuses Iran of violating its economic sanctions against Tehran, Investors and push them into safe havens, topped by gold.

Technical Analysis

Gold continued its bullish path in the medium term as it reached the upper limit of the up channel it has been trading since 16-08-2018

The resistance level is at 1251.32, where gold is expected to face resistance at this level and a rebound towards to the level 1238.30. especially that this level is at 38.2% Fibonacci retracement of the long downtrend that started on 11-04-2018. And the SMA 7 is at this level.

Thus, the bullish trend will be expected in the coming period if the 1238.30 level is not broken and stability below it.

If gold breaks the resistance level 1251.32 it will stimulate the bulls and push them to form more pressure on the price to rise towards the target 1262.80.

In case that happen we will wait to see the price movement  at that level to see if gold is in a new bullish path or is in a correction path for the downside move, we talked about as the 1262.8 level is at Fibonacci retracement of 50%.

Moving averages move up in an ideal arrange and the SMA 7 moves with the price giving it stability in the upsidetrend.

The Stochastic is moving sideways within the overbought area in a reversal of the bullish movement and we are watching any exit from this level as it will push it to the downside.

The trading range is among the key support at 1238.40 and the key resistance at 1262.80.

Support and resistance:

Support: 1238.30-1227.4-1221.90;

Resistance: 1251.30-1257.00-1262.8.

The Australian dollar rose during the Asian session to see its coverage of the falling price gap, which started this week following the economic developments and data that followed it on the Australian economy and on the eve of developments and economic data expected Monday by the US economy, the largest economy in the world.

At 02:44 GMT, the AUD/USD rose 0.10% to 0.7215, compared to the opening levels of 0.7192, after recording a high of 0.7223, while a low of 0.7172. The pair ended last week at 0.7208.

Australian Assistant Bank of Australia Governor Christopher Kent, speaking at a Bloomberg news conference in Sydney on US monetary policy and the Australian financial situation, followed the Australian housing market data as the Home Loan Index showed a rise of 2.2% Fell 1.0% in September, beating expectations that the decline would drop to 0.5%.

On the other hand, investors are looking for the US economy to publish a statistical reading employment opportunities and job turnover, which may reflect a rise to 7.22 million versus 7.01 million in September, coming hours after the disclosure of labor market data for the last month which showed that showed stability rates Unemployment at its lowest since 1969 at 3.7% for the third month in a row, consistent with expectations.

In the same context, the average hourly earnings report showed growth accelerated to 0.2% from 0.1% in October, below expectations of 0.3%, while the Non-Farm Employment Change Index showed a slowdown in job creation to 155,000 added jobs 237 thousand jobs added in October, worse than expectations for 198 thousand added jobs.

Technical analysis:

The AUD/USD continues to trade negative and tries to break the 0.7200 level to keep the downside scenario intact for the coming sessions.  It relies on stability below 0.7277 supported by the negative pressure formed by SMA 50 noting that our next key targets are at 0.7080, then 0.7020.

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

Support and resistance:

Support: 0.7235-0.7180-0.7142-0.7044;

Resistance: 0.7276-0.7367-0.7441.

The general trend for today is bearish.

The British pound weakened during the US session against the US dollar amid a lack of economic data by the British economy following the economic developments and data that followed last Friday the British economy and the US economy, the largest economy in the world, including the talk of the Governor of the Federal Reserve and members of the Federal Commission for the open market.

We saw the Halifax house price index, that showed a drop of 1.4% from October's + 0.7%, in contrast to expectations of slower growth of 0.2%, while the same index for the last three months last month showed slower growth to 0.3% versus 1.5%, worse than expectations of 1.0%, leading to higher consumer expectations of inflation to 3.2% compared to 3.0% in the second quarter.

This came ahead of the release of US labor market data last month, that showed unemployment stabilized at its lowest level in almost five decades at 3.7% for the third month in a row, in line with expectations. The average hourly earnings showed growth accelerated to 0.2 From 0.1% in October, below expectations of 0.3%.

In the same context, the Non-Farm Employment Change Index showed a slowdown in job creation to 155,000 added jobs, compared to 237,000 in October, worse than expectations for 198,000 added jobs before the final reading of the Wholesale Inventories Index Showed a rise to 0.8% from October's preliminary reading and expectations of 0.7% versus 0.4% in September.

Technical analysis:

The GBP/USD has tested the key support at 1.2730 and has maintained its stability so far, keeping the bullish scenario intact so far, supported by Stochastic positive, awaiting the move towards 1.2962 which represents our next main target.

Moving averages above the price are pressure on it to mask the bullishness as the price trades around the SMA 7, that will form resistance to the price.

Keep in mind that a break of 1.2730 will press the price to test the 1.2636 level that represents the most important level to determine the next short- and medium-term path.

The trading range for today is expected among 1.2670 support and 1.2850 resistance.

Support and resistance:

Support: 1.2730-1.2698-1.2650;

Resistance: 1.2773-1.2823-1.2894.

The general trend for today is bullish.

The single currency of the European Union region rose during the Asian session, its highest since November 20,2018, against the US dollar on the eve of economic developments and data expected on Monday by the economies of the euro zone and the US economy, the world's largest economy.

At 05:37 GMT, the EUR/USD rose 0.47% to 1.1433, compared with the opening at 1.1379, after reaching a three-week high of 1.1443, while the session's low was at 1.1381.

The markets are now looking at Germany's largest economy to unveil the trade balance, which could reflect a contraction of the surplus to 17.2 billion euros from 17.6 billion euros in October, ahead of the Italian Industrial Production Index, the third largest economy in the euro zone, The decline widened to 0.4% versus 0.2% in October, to reveal the Sintex Consumer Sentiment Index for the region as a whole, which showed a contraction to 8.4 versus 8.8 in November.

On the other hand, investors are looking for the US economy to publish a statistical reading employment opportunities and job turnover, which may reflect a rise to 7.22 million versus 7.01 million in September, coming hours after the disclosure of labor market data for the last month which showed that showed stability rates unemployment at its lowest since 1969 at 3.7% for the third month in a row, consistent with expectations.

In the same context, the average hourly earnings report showed growth accelerated to 0.2% from 0.1% in October, below expectations of 0.3%, while the Non-Farm Employment Change Index showed a slowdown in job creation to 155,000 added jobs 237 thousand jobs added in October, worse than expectations for 198 thousand added jobs.

Technical analysis:

The EUR/USD starts the week higher to test now the pivotal resistance 1.1443. We note that SMA 50 continues to try to push the price lower while Stochastic is in overbought areas, which is a negative factor that could push the pair lower again.

On the other hand, when we look at the chart, we will notice that the price of the pattern of the head and shoulders upside down within the rectangle. It means that the price has a positive incentive to rush to rise in the short and long term, but needs to exceed the level of 1.1443 and eliminate the negative factors to confirm the current rise.

Therefore, we prefer to stop on the neutral temporarily until we get a clearer indication of the next direction, that we will get through breaking the resistance 1.1443 or break support 1.1400, as breaking this resistance will push the price to achieve positive targets start at 1.1550 and extends to 1.1705, while breaking Support will press the pair to head towards 1.1300 and then 1.1181 as the next major stations.

The trading range for today is expected among the 1.1320 and the 1.1530 support.

Support and resistance:

Support: 1.1341-1.1294-1.1211;

Resistance: 1.1382-1.1443-1.1500.

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

EURUSD

The pair is trading above 1.1415. It’s supported by the USD’s local weakness following the publication of unimpressive US employment data last Friday.

The pair is trading above the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the overbought territory and is indicating weaker growth. Stoch are enternig the overbought zone.

Trading recommendations:

If the negative attitude towards the USD remains, and the pair takes hold above 1.1415, it may continue local growth up to 1.1500.

AUDUSD

The pair is under pressure against the background of decreasing risk appetite of investors. Favorable employment data in the US may push the pair further to a limited drop.

The pair is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold territory line and is indicating weaker growth. Stoch are reversing downwards.

Trading recommendations:

If the pair passes 0.7200, it may go further down to 0.7150.