Analytic reviews

Amazon was succeeded in rebounding from the support level 1621.2 near the SMA 20 to approach the SMA 50 which is a resistance to the price will try to prevent it from rising again and reaching the target 1806.20 where the price is trading between the moving averages 7-20-50.

Note that the Stochastic is starting to lose its bullish momentum as it left the overbought area in a negative bearish signal.

Support and resistance:

Support: 1621.2-1430.3;

Resistance: 1806.2-2048.2.

Gold futures rose during the American session to witness the highest since July 11 amid the rebound of the dollar index from the highest since the end of November last according to the inverse relationship between them following developments and economic data followed Thursday by the US economy largest the world economy and on the brink of the forthcoming talk of FOMC member and Atlanta Fed Chairman Rafael Postk in Atlanta.

Gold futures rose to currently trade at $ 1239.66 per ounce, after reaching a five-month high of $ 1,244.30 per ounce. The US dollar index fell 0.41% to 96.67, reversing the week's high against the opening at 97.07.

Federal Reserve Board member Randall Quarls followed the opening remarks at the Stanford University Economic Seminar in California before we saw the release of preliminary data for the US labor market with the reading of the Change in Private Sector Index, which showed a slowdown in job creation to around 179,000 jobs Adding to 225,000 jobs added last October, worse than the expected 195,000 added jobs.

In parallel with the release of the trade balance index, which showed a widening deficit to $ 55.5 billion compared to $ 54.6 billion last September, worse than expectations of a widening deficit to $ 55.2 billion, showed a reading of the index of claims for the week before the beginning of the month decrease by 4 thousand to 231 thousand applications compared to 235 thousand applications in the previous weekly reading, contrary to expectations at 226 thousand applications.

On the 24th of last month, the ongoing claims index showed a drop of 74K to 1,631K, exceeding expectations of 1,690K. This came before we saw the final reading of Markit Institute's Index of Service Providers Which expanded to 54.7 from the previous reading and expectations at 54.4 and from 54.8 in October.

We also followed the disclosure of the Institute of Supply Service Index, which showed a widening to 60.7 compared to 60.3 in October, contrary to expectations that indicated the contraction of breadth to 59.1, and we would like to point out that the service supply is important in the fact that the service sector in the United States represents More than two-thirds of US GDP.

This came in conjunction with the factory demand index, which showed a 2.1% drop from 0.2% last September, worse than expectations for a 1.9% decline. This comes on the heels of the expected talk of federal commissioner and Federal Reserve Chairman Rafael Postk about Local economy in Georgia's economic forecast series in Atlanta.

Gold holdings at SBDR Gold Trust, the world's largest gold-backed fund, stabilized on Wednesday for a second consecutive day at 761.74 metric tons. Gold prices last month made their second monthly gain, respectively, after ending their longest losing streak in October since late 1996.

Technical analysis:

Gold is starting a new high today to move above the 1238.30 level, but closed yesterday's candlestick below this level as well, keeping the chances for the continuation of the expected bearish scenario over the intraday basis, waiting for 1208.40 targeting mainly.

The break of 1230.00 will facilitate the price action to achieve the mentioned target, while the price stability above 1238.30 will stop the negative scenario and lead the price to move towards 1262.51 as the next major station.

No change in the moving averages. the SMA 7 approaches the price to give it more stability while the SMA 20 is floating near support area 1222.0.

Stochastic moves in the overbought area, waiting for an intersection between the indicator lines and out of the area to begin the correction process

The trading range for today is among the support at 1220.00 and resistance at 1250.00

Support and resistance:

Support: 1227.39-1221.89-1211.98

Resistance: 1238.38-1251.32-1257.00-1262.8

The general trend for today is bearish

The Australian dollar fell during the Asian session to see its fifth consecutive session retreat since August 9 against the US dollar following developments and economic data that followed the Australian economy and the talk of Federal Open Market Committee member and New York Bank Chairman John Williams in New York in addition to To Federal Reserve Governor Jerome Powell in Washington on the eve of economic developments and data expected Friday by the US economy, the largest economy in the world.

At 02:51 GMT, the AUDUSD fell 0.15% to 0.7225, compared with the opening levels of 0.7236, after reaching a low of 0.7219, while recording a high of 0.7237.

We followed the Australian economy by reading the Australian Manufacturing Group (AIG) Construction Index, which showed a contraction of 44.5 versus 46.4 in October, hours after the Reserve Bank of Australia's Reserve Bank of Australia Governor Ge Debili said Thursday. Sydney the interest rate level may be further reduced depending on the data.

Debeili also noted that it is unlikely to raise interest rates in the coming period and that floating the exchange rate is still important to control any shocks in the markets, adding that the economy is growing at a reasonable pace and that banks responded to the decline in house prices, which increases the economic challenges, Rose, while it is not yet clear how high they are, and that the Australian Central Bank is closely monitoring the economic data and will adjust its expectations if necessary.

On the other hand, we followed Federal Reserve Chairman and Federal Reserve Bank of New York Chairman John Williams in an interview with Mervyn King as part of the London Foundation for Economics meeting in New York before we saw Federal Reserve Governor Jerome Powell talking about the economy, rural America and the economy. Annual event of the Housing Assistance Council in Washington.

Otherwise, the markets are currently looking for the US economy to release labor market data for November that could reflect a stable unemployment rate of 3.7% for the third straight month at its lowest in almost five decades, amid expectations that the reading of average income in The hour accelerated its growth to 0.3% from 0.2% in October.

In conjunction with the release of the Non-Farm Payrolls Change Index, which may reflect a slower pace of job creation to 198,000 added jobs versus 250,000 jobs in October before the final reading of the Wholesale Inventories Index, which may reflect stability at 0.7%, unchanged from October's prior reading and 0.4% in September.

To the initial reading of the University of Michigan Consumer Sentiment Index, which may reflect a narrowing to 97.0 versus 97.5 last November, before we see the Federal Reserve Committee member for financial stability at the Peterson Institute in Washington as investors look for any hints at the future of monetary policy tightening by monetary policy makers in the Federal Reserve.

Technical analysis:

The AUDUSD remains steady without supporting the ascending channel, and we notice that Stochastic is approaching the oversold area consistently.

The pair is currently trading at the support level of 0.7235, below the averages of 20-7, but above the SMA 50 which formed yesterday's support level at 0.7186

Therefore, we believe that opportunities are available to resume the expected bearish trend over the short and short term targeting 0.7080 then 0.7020 mainly, while stability below 0.7277 is an important condition for achieving the suggested targets.

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

Support and resistance:

Support: 0.7235-0.7186-0.7080-0.7020

Resistance: 0.7276-0.7377-0.7452

The general trend for today is bearish

The British pound rose during the US session to see its third session retreat since June 22, 2017 against the US dollar amid a lack of economic data by the British economy following developments and economic data followed Thursday by the US economy's largest economy in the world, which included members of the Federal Open Market Commission.

British Prime Minister Theresa May said it was unlikely that Britain's forthcoming parliament vote would be postponed on Tuesday to the British exit from the EU on a regular basis. She said she was talking with her colleagues in her government about how the parliament could play a role in the details of the Pakstop "Which is an integral part of the withdrawal agreement, explaining that the British government is not entitled to withdraw unilaterally from Pakstop.

She also noted that the options currently available are the agreement to leave the EU on a regular basis, exit from the EU without agreement, and not to leave the EU at all. The United Kingdom now faces the risk of not leaving the Union at all, With the knowledge that the duty imposed on her government is to fulfill the demand of the British people to leave the European Union.

On the other hand, Federal Chancellor Randall Quarles followed the opening remarks of the Stanford University Economic Seminar in California before we saw the release of preliminary data for the labor market with the reading of the Change in Private Sector Index, which showed a slowdown in job creation to around 179,000 Adding an added 225,000 jobs in October, worse than expectations for 195,000 jobs added.

In parallel with the release of the trade balance index, which showed a widening deficit to $ 55.5 billion compared to $ 54.6 billion last September, worse than expectations of a widening deficit to $ 55.2 billion, showed a reading of the index of claims for the week before the beginning of the month decrease By 4 thousand to 231 thousand applications compared to 235 thousand applications in the previous weekly reading, contrary to expectations at 226 thousand applications.

On the 24th of last month, the ongoing claims index showed a drop of 74K to 1,631K, exceeding expectations of 1,690K. This came before we saw the final reading of Markit Institute's Index of Service Providers Which expanded to 54.7 from the previous reading and expectations at 54.4 and from 54.8 in October.

We also followed the disclosure of the Institute of Supply Service Index, which showed a widening to 60.7 compared to 60.3 in October, contrary to expectations that indicated the contraction of breadth to 59.1, and we would like to point out that the service supply is important in the fact that the service sector in the United States represents More than two-thirds of US GDP.

This came in conjunction with the factory demand index which showed a drop of 2.1% from 0.2% last September, worse than expectations of a 1.9% decline. Federal Reserve Chairman and Federal Reserve Chairman Rafael Postk's talk about the local economy Georgia Economic Outlook series in Atlanta.

Technical analysis:

The GBP/USD has made a clear breach of the 1.2730 level and has stabilized above it, to activate the positive scenario over the intraday basis, targeting mainly towards 1.2962.

Therefore, the bullish trend is likely to be supported today by the positive stochastic, unless the level of 1.2730 is broken and stability below it again.

The price succeeded in breaching the SMA 7 while  the SMA 20 formed resistance to the price currently trading below it at the resistance level of 1.2773.

The trading range for today is expected among 1.2700 support and 1.2900 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 fluctuated in a narrowly bearish range during the Asian session against the US dollar following an interview by FOMC member and New York Bank Chairman John Williams in New York, as well as the speech of Federal Reserve Governor Jerome Powell in Washington on the eve of developments and data Economic growth expected Friday by the largest economies of the euro zone Germany and the US economy the largest economy in the world.

At 05:55 GMT, the EURUSD dropped 0.06% to 1.1367, compared to the opening at 1.1374, after reaching a low of 1.1367, while reaching a high of 1.1383.

The markets now look to Germany, the largest economy in the euro area, to release the Industrial Production Index, which may reflect a rapid growth to 0.3% from 0.2% in September. The same index may see growth accelerating to 2.1% vs. 0.8% Ahead of the same indicator for France, the region's second largest economy, which could reflect a rise of 0.8% from a 1.8% drop in September.

In line with the release of the French trade balance, which could reflect a widening deficit to 5.9 billion euros from 5.7 billion euros in September, and before the release of Italian retail sales, which may show contraction of the decline to 0.2% compared to 0.8% in September, The end of the change in employment for the euro area as a whole, which may reflect a stability of 0.2%, unchanged from the preliminary reading for the third quarter, compared to 0.4% in the second quarter last.

Leading to the release of the seasonally adjusted quarterly GDP reading for the euro zone as a whole for the third quarter, which may reflect the stability of the widening of 0.2%, unchanged from the initial reading for the third quarter and against 0.4% in the second quarter. 1.7%, also unchanged from the previous preliminary reading and 2.1% in the second quarter.

On the other hand, we followed Federal Reserve Chairman and Federal Reserve Bank of New York Chairman John Williams in an interview with Mervyn King as part of the London Foundation for Economics meeting in New York before we saw Federal Reserve Governor Jerome Powell talking about the economy, rural America and the economy. Annual event of the Housing Assistance Council in Washington.

Otherwise, markets are currently looking for the US economy to release labor market data for November which could reflect a stable 3.7% unemployment rate for the third straight month at its lowest level in almost five decades, amid expectations that the average income reading The rate of growth accelerated to 0.3% from 0.2% in October.

Investors are also looking for the Non-Farm Payrolls Index, which may reflect a slower pace of job creation, to 198,000 added jobs versus 250,000 jobs in October before the final reading of the Wholesale Inventories Index, which may reflect stability at 0.7%, unchanged from the previous October reading and 0.4% in September.

To the initial reading of the University of Michigan Consumer Sentiment Index, which may reflect a narrowing to 97.0 versus 97.5 last November, before we see the Federal Reserve Committee member for financial stability at the Peterson Institute in Washington as investors look for any hints at The future of monetary policy tightening by monetary policy makers in the Federal Reserve.

Technical analysis:

The EUR/USD pair is trading below the 1.1400 level after yesterday's positive attempts and is under the negative pressure of the SMA50 to support our bearish outlook for the intraday and short term, awaiting 1.1300 and 1.1181 mainly.

Therefore, the negative scenario will remain intact provided that stability remains below 1.1443, while noting the importance of caution during trading today, especially at the time of the release of US economic data which may cause strong and mixed trading in the markets.

The trading range for today is expected between 1.1260 and 1.1443 support.

Support and resistance:

Support: 1.1341-1.1294-1.1210;

Resistance: 1.1386-1.1443-1.1500.

The general trend for today is bearish.

AUDUSD

The pair is under pressure due to the large-scale drop in demand for risk assets caused by investors’ concerns over the continuing slowdown in global economic growth. The markets also doubt that the  US-China deal reached in Argentina will stop the trade war between the countries.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is on the level of the oversold territory and is indicating slower decrease. Stoch are in the oversold zone and aren’t informative.

Trading recommendations:

The pair may correct to 0.7250, but if it retains this level, it may resume the drop to 0.7165.

Cisco reached the historical peak of 49.12 on 10-30-2018 and reversed it from the correction to the 7 MA at 47.19 and the next support is 46.36, which is the convergence point of the 20-50 moving averages. Thus, the level of support is very strong.

The stochastic is giving a bearish cross and is trying to break out of the overbought area and if it does, it will push the price lower.

In general, there is no clear direction of movement, so we commit to neutrality.

Support and resistance:

Support as 47.98-46.36-44.86.

The general trend of the movement is neutral.

Gold futures traded in a narrowly bullish range during the Asian session as the US dollar index fell on the back of economic developments expected Thursday by the US economy, the world's largest economy.

Gold futures for February delivery rose 0.24% to currently trade at $ 1,245.60 per ounce from the opening at $ 1,242.60 an ounce, with the US dollar falling 0.07% to 97.00 from the opening at 97.01.

Federal Open Market Committee member Randall Quarles followed the opening remarks at the Stanford University Economic Seminar in California, as investors awaited the release of US labor market data as a result of the reading of the Change in Private Sector Index, Added an additional 227,000 jobs in October.

This comes before the final reading of the productivity index and the cost of one work, which may show accelerated productivity growth to 2.3% compared to 2.2% in the previous preliminary reading of the third quarter, compared to 0.9% growth in the second quarter and slowing the cost growth to 1.1% compared to 1.2% , In conjunction with the release of the trade balance index which may show a widening deficit to $ 55.2 billion versus $ 54.0 billion in September.

In conjunction with the reading of the index of claims for the week ending in early December, which may reflect a decrease of 8 thousand requests to 226 thousand requests in the previous weekly reading, as may appear reading the index of continuing claims for the week of November 24, Last fall by 15 thousand applications to 1,695 thousand applications compared to 1,710 thousand applications in the previous weekly reading.

Leading to the final reading of the index of the Institute of Supply Services by Markit from the United States, which may reflect the stability of the breadth at 54.4 compared to 54.8 in October, before the disclosure of the index of the Institute of Supply Service, which may also show a contraction of the breadth to 59.1 compared to 60.3 in October October, and we would like to point out that service delivery is important in that the service sector in America represents more than two thirds of GDP.

Which is expected to drop 1.9% from September's + 0.7%, before Federal Reserve Chairman and Federal Reserve Chairman Rafael Postk talks about the domestic economy in Georgia's economic forecast series in Atlanta, Look for any hints about the future tightening of monetary policy by monetary policy makers in the Federal Reserve.

Technical analysis:

The price of gold is testing a new 1238.30 level, which requires attention from the upcoming trading, especially the daily closing for this level. The breach will stop the negative scenario suggested today and lead the price to rally towards 1262.51 mainly, while stability below the mentioned resistance will push the price towards 1208.40 in the near term.

There is no change for the indicators as the moving averages are still moving below the price in ascending order and we notice that the moving average 7 is approaching the price to give it more stability while the 50 average is approaching 1221.90.

For the Stochastic indicator, it moves in the overbought area to give the price support to continue the uptrend but should be aware of any intersection and exit from this area.

Support and resistance:

Support: 1227.4-1221.9-1211.9;

Resistance: 1238.3-1248.97-1257.00.

General Trend: Upward.

The Australian dollar fell during the Asian session to see its rebound for the fourth consecutive session of its highest since August 9 against the US dollar following developments and economic data that followed the Australian economy and on the eve of developments and economic data expected Thursday by the US economy, the largest economy in the world.

At 03:30 GMT, the AUDUSD fell 0.65% to 0.7221 compared to the opening levels of 0.7268, after hitting its lowest since November 27 at 0.7220, Trading session at 0.7274.

We have followed the Australian economy reading the trade balance index, which showed that the surplus shrank to 2.32 billion Australian dollars against A $ 2.94 billion in September, contrary to expectations that the surplus increased to 3.10 billion Australian dollars, The Retail Sales Index accelerated growth to 0.3% in line with expectations versus 0.1% in September.

Otherwise, markets are looking forward to the talk of Assistant Governor of Australia's Reserve Bank for Financial Markets, Debbie, entitled "Lessons and Questions from the Global Financial Crisis" at the Australian Economists' Annual Dinner in Sydney, hours after the Reserve Bank of Australia Short term at 1.50% for the 26th consecutive meeting.

On the other hand, Federal Open Market Committee member Randall Quarles followed the opening remarks at the Stanford University Economic Seminar in California, as investors awaited the release of US labor market data as the private sector employment index To about 195 thousand added jobs compared to 227 thousand jobs added last October.

This comes before the final reading of the productivity index and the cost of one work, which may show accelerated productivity growth to 2.3% compared to 2.2% in the previous preliminary reading of the third quarter, compared to 0.9% growth in the second quarter and slowing the cost growth to 1.1% compared to 1.2% , In conjunction with the release of the trade balance index which may show a widening deficit to $ 55.2 billion versus $ 54.0 billion in September,

This comes in conjunction with the reading of the index of claims for the week ending in early December, which may reflect a decrease of 8 thousand requests to 226 thousand applications in the previous weekly reading, as may appear reading the index of continuing claims for the week of November 24 Last November down 15K to 1,695K versus 1,710K last week.

Leading to the final reading of the index of the Institute of Supply Services by Markit from the United States, which may reflect the stability of the breadth at 54.4 compared to 54.8 in October, before the disclosure of the index of the Institute of Supply Service, which may also show a contraction of the breadth to 59.1 compared to 60.3 in October October, and we would like to point out that service delivery is important in that the service sector in America represents more than two thirds of GDP, which is expected to drop 1.9% from September's + 0.7%, before Federal Reserve Chairman and Federal Reserve Chairman Rafael Postk talks about the domestic economy in Georgia's economic forecast series in Atlanta, Look for any hints about the future tightening of monetary policy by monetary policy makers in the Federal Reserve.

Technical analysis:

The AUDUSD traded with a strong negative to break the 0.7277 level and settle below it, and today it starts with a further strong decline to break the support of the corrective correction channel indicating that the pair has returned to the main bearish trend and stopped the bullish correction recently started by the price.

The price is trading below the moving averages of 20-7 while the SMA 50 supports the price at 0.7180.

Stochastic is giving bearish signals as it is steadily heading towards the oversold area.

Therefore, the bearish trend will be likely in the coming sessions, starting with the negative targets at 0.7080 and extending to 0.7020, noting that the continuation of the expected decline depends on stability below 0.7277.

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

Support and resistance:

Support 0.7235-0.7181;

Resistance: 0.7276-0.7367-0.7441.

The general trend for today is bearish.

The British pound rose on Wednesday, extending gains today as mounting opposition to British Prime Minister Teresa Mae's exit deal prompted some investors to start pricing in opportunities to avoid a break-up altogether.

LONDON (Reuters) - Opposition to a British exit deal from the European Union rose on Wednesday after the May government was forced to publish a legal advice that the United Kingdom could be indefinitely closed in the orbit of the European Union.

Parliament has forced Mai to publish a notice from the country's top lawyer on a standby or support mechanism to prevent the return of border controls between British-ruled Northern Ireland and the Irish Republic of the European Union.

The notification stated that "although the declarations in the Protocol are not intended to be permanent and the intention of the parties is clear that they will be replaced by permanent alternative arrangements, under international law, the Protocol will remain indefinitely until it is replaced by the pending agreement."

"In the absence of the right to terminate, there is a legal risk that the UK may become subject to long and repeated rounds of negotiations."

After a series of humiliating parliamentary defeats for Mai a day before casting doubt on their ability to conclude the deal, the US investment bank said. B. Morgan said that Britain's chances of a complete break in the BRICCET have increased.

May is trying to get approval for her deal by the parliament, which shows every sign of her defeat in the vote on December 11. It is not clear what will happen if the deal is rejected as it is due to leave Britain on March 29.

If parliament rejects its agreement, may warned that Britain could leave without a deal or that there would be no exit from the EU at all.

Reverse Breakst?

On Tuesday, just hours before the start of a five-day debate in the British parliament over the May deal for Britain's exit from the European Union, a senior official at the European Court of Justice said Britain could withdraw the official divorce notice.

"It seems that the UK now has the option of unilateral withdrawal, and take a while to choose what to do next," wrote Malcolm Barr, an economist at JPMorgan.

Put a 10% probability of Britain leaving without a deal, down from 20%, and a 50% probability of orderly exit, down from 60%. The chance of no exit at all has doubled to 40% from 20%, indicating perhaps the biggest shift in perception since the 2016 vote of departure.

British Trade Secretary Liam Fox, who supports Britain's exit from the European Union, said it was now possible for Britain to not emerge from the European Union. Fox told a parliamentary committee on Wednesday that there was a real danger that Parliament would try to "steal" BRICST from the British people.

While MAI and main opposition Labor Party members say they respect the 2016 vote to leave, an increasing number of lawmakers in parliament believe the only solution could be a new referendum that gives voters a choice to stay in the European Union.

Technical analysis:

The GBP/USD pair is hovering around the 1.2730 resistance level without being able to confirm its breach, keeping the price stuck between the pivotal levels of resistance mentioned and support 1.2636, waiting for a break to determine the next targets more precisely.

Do not change for the indicators as the price is still below the moving averages of 7-20-50. The Stochastic moved near the oversold area in a sideways move that reflects uncertainty for investors.

We will note that breaching the resistance will push the pair to gain 1.2962 initially, while breaching the support will press the price to continue the medium-term bearish trend with the next target at 1.2500.

Support and resistance:

Support: 1.2730-1.2698-1.2651;

Resistance: 1.2773-1.2823-1.2894.

The trading range for today is expected among 1.2620 support and 1.2820 support.

The expected general trend for today: neutral.