Analytic reviews

The single currency of the European Union region fluctuated in a tight range against the US dollar on the brink of developments and economic data expected Thursday by the largest euro area economies Germany and the US economy, the world's largest economy.

At 05:30 GMT, the EURUSD rose 0.05% to 1.1350, compared to the opening at 1.1344, after reaching a high of 1.1353, while reaching a low of 1.1339.

The markets are currently looking for the German economy, the euro zone's largest economy, to reveal the factory demand index, which may reflect a 0.4% drop from 0.3% in September. The annualized unadjusted annual reading for the same index may show a widening of the decline to 3.1% versus 2.2%. In the previous annual reading for September.

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,

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 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 EUR/USD pair did not show any strong movement yesterday, to keep moving around the 1.1330 level, and since the price is below 1.1443, our bearish outlook remains valid for today, supported by the negative sign from Stochastic now,

The price is moving around the moving averages 7-20 together, which are a strong resistance to the price while the SMA 50 is still around to the resistance level of 1.1443

Waiting for targeting 1.1300 and 1.1181 which represent our next major stops.

The trading range for today is expected among 1.1240 support and 1.1400 resistance.

Support and resistance:

Support: 1.1341-1.1294-1.1210;

Resistance: 1.1386-1.1443-1.1500.

The general trend for today is bearish.

USDCAD

The pair grew against the backdrop of overall dollar increase due to the possibility of a new world economy recession, which is feared by investors. The pair is also supported by the American Petroleum Institute publication of data on oil and petroleum products, which showed an increase in stocks last week.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. The RSI is above the level of 50% and indicates a weaker growth. Stoch entered overbought zone.

Trading recommendations:

If the pair remains above 1.3250, it may move further up to 1.3380.

Gold futures rallied during the US session, the highest since July 13, as the US dollar index fell for the fourth session in five sessions from its highest since November 13, according to the inverse relationship between them after the talk of the Governor of the Bank Federal Reserve Chairman Jerome Powell, a member of the Federal Committee for the Elle Bernard in Washington and the expected talk of Federal Committee member and New York Bank Chairman John Williams in New York.

Gold futures for February delivery rose 0.39%, the highest level in five months compared to the opening at $ 1,239.60 an ounce amid the decline of the US dollar index of 0.29% to 96.76 levels, explaining the lowest Since the 22nd of last month compared to the opening at 97.04.

The testimony of Federal Reserve Governor Jerome Powell to the Joint Economic Committee for Congress, which was due to be seen on Wednesday on the economic outlook, was postponed as the 45th President of the United States, Donald Trump, approved on December 5 this year a holiday Official in the United States to pay homage to former US President George HW Bush. W.

Paul's latest talk about rural America and the economy at the annual Housing Assistance Council meeting in Washington is expected to be held ahead of last week's US labor market data, which could reflect a stable unemployment rate of 3.7% for the third month in a row, Average hourly income, while reading the change in the employment of sectors other than agriculture may reflect a slower pace of job creation.

In another context, we followed on Sunday the White House issued a statement on dinner leaders at the G20 summit in the Argentine capital Buenos Aires, which reported that US President Donald Trump and his Chinese counterpart Xi Jinping discussed a range of controversial issues including the trade dispute Between Washington and Washington, which foreshadows a trade war between the world's biggest economists.

The White House statement also states that "President Trump agreed that on 1 January 2019 tariffs on Chinese products valued at $ 200 billion would be left at a rate of 10 per cent and would not be raised to 25 per cent on that date" and that within 90 days US and Chinese officials will continue to negotiate on many of the issues of the existing trade dispute, particularly technology transfer and intellectual property as well as agriculture.

Trump and his counterpart, Shi Jinping, for a three-month trade truce during which US and Chinese officials will continue their trade negotiations have weighed heavily on the performance of the US dollar recently adopted by investors as a security haven. The greenback has recently lost its attractiveness as a result of market pricing for Powell's speech Last week as a possible moderation in the pace of tightening monetary policy of the Federal Reserve.

The minutes of the Federal Open Market Committee meeting held on November 7 and 8, which was unveiled by the Federal Reserve on Thursday, indicated that there was a close increase in federal funds rates and that monetary policy makers in the Federal Reserve Have discussed the timing of a future short-term interest rate increase.

Gold holdings at the SBDR Gold Trust Fund, the world's largest gold-backed fund, fell by 3.53 metric tons to 761.74 metric tons on Monday. Gold prices last month made their second monthly gain, respectively, after ending their longest losing streak in October since late 1996.

Technical analysis:

Gold failed to close daily above the resistance level 1238.4 and is currently trading near the previous resistance level 1232.00.

Gold is trading above the moving averages, where the SMA 7. near of the support levels at 1227.40 and it is above the current gold price (1235.5), which Forms a kind of instability in the bullish movement so gold is likely to make a correction towards SMA 7 for more stability in the bullish trend.

Stability above 1228.00 is required to conforming  on the upside and achieve the awaited targets around 1238.00 again and then 1249.00.

The trading range for today is among the support at 1227.40 and resistance at 1249.00.

Support and resistance:

Support: 1227.40-1221.90-1211.87;

Resistance: 1238.40-1249.00-1257.00-1262.8.

General Trading Course: bullish.

The Australian dollar fell for a third consecutive session of its highest since August 9 against the US dollar following developments and economic data that followed the Australian economy and amid the lack of economic data on Wednesday by the US economy, the largest economy in the world because of the official holiday approved by President of the United States Donald Trump in America, a mournful tribute to former US President George H. W.

At 03:59 am GMT, the AUDUSD dropped 0.52% to 0.7300 compared to the opening levels of 0.7338, after reaching a low of 0.7295 while the highest at 0.7356.

We followed the Australian economy by reading the Australian Industry Group (AIG) service sector index which expanded to 55.1 from 51.1 in October, before we saw GDP reading, which showed a slowdown in growth to 0.3% Against 0.9% in the second quarter, worse than expectations for a slowdown in growth to 0.6%.

GDP growth slowed to 2.8% from 3.1% in the previous year's second quarter reading, in contrast to expectations of a 3.3% growth rate, coming hours after the central bank's monetary policy decision Short-term benchmark interest rates at 1.50% for the 26th consecutive meeting.

Technical analysis:

AUDUSD trades significantly lower to test pivotal support 0.7277, and the price needs to stabilize above this level to keep the bullish scenario intact for the coming period, supported by Stochastic entering the overbought areas.

Therefore, we will continue to push the upside correction unless the levels of 0.7277 - 0.7250 are broken and stability below it, noting that our next target is at 0.7437.

The trading range for today is expected among the support at 0.7250 and the resistance at 0.7370.

The general trend for today is bullish.

The royal currency fluctuated widely during the US session to its lowest since June 22 against the US dollar following developments and economic data followed Tuesday by the British royal economy amid the lack of economic data by the US economy, the largest economy in the world, which will miss On Wednesday for a holiday in honor of former US President George H Bush. W.

Bank of England Governor Mark Carney, who testified before the London Treasury Selection Committee on the UK exit agreement on a regular basis, said it was unlikely that the expected scenarios for the regular exit would occur. The European Union, with the worst exit scenarios with a market value of 10%.

Carney also noted that there had been fluctuations in the pound sterling over the past period, but that would not be disastrous again. He said he believed the financial sector was ready for any of the UK exit scenarios from the EU. Construction PMI expanded to 53.4 versus 53.2 last October, in contrast to expectations of a 52.5 contraction.

On the other hand, we followed Federal Reserve Governor Jerome Powell Powell and a member of the Federal Committee for the Eel Breinard in celebrating the distinction in community development and directing the inaugural opening of the Federal Reserve, Janet Yellin, to excellence in community development. About domestic employment and workforce trends in the New York Bank Federal Reserve.

We note that Fed Chairman Jerome Powell's testimony before the Joint Economic Committee for Congress, which was due to be seen on Wednesday on the economic outlook, was postponed because the forty-fifth President Donald Trump passed on December 5 this year A US official holiday in honor of former US President George HW Bush. W.

Paul's latest talk about rural America and the economy at the annual Housing Assistance Council meeting in Washington is expected to be held ahead of last week's US labor market data, which could reflect a stable unemployment rate of 3.7% for the third month in a row, Average hourly income, while reading the change in the employment of sectors other than agriculture may reflect a slower pace of job creation.

Technical analysis:

GBPUSD broke a strong break of 1.2730 and settled with a daily closing below it, approaching the pivotal support 1.2636 yesterday, and is now stuck between these two levels, waiting for one break to determine the next price direction more clearly.

From here, we will remain neutral until we get a clearer signal for the next direction, noting that a break of 1.2636 will press the price to incur further losses targeting the 1.2500 zones initially, while breaching 1.2730 will push the price to start new recovery attempts and achieve positive targets starting at 1.2962.

Trading was below the moving averages which are negative pressure on the price. However, it is moving away from it which is likely to correct the correction. While the Stochastic is approaching the oversold area, it is giving a bullish cross signal and thus sticking to the idea of ​​neutrality.

The trading range for today is expected among 1.2620 support and 1.2800 resistance.

Support and resistance:

Support: 1.2698-1.2650-1.2636;

Resistance: 1.2730-1.2773-1.2823.

The expected general trend for today: neutral.

The single currency of the European Union region fell during the Asian session to see its rebound for the second straight session since November 23 against the US dollar on the eve of developments and economic data expected Wednesday by the Euro-zone economies amid tight economic data on Wednesday. Ahead of the US economy, the largest consumer and producer of oil globally because of the official holiday, which was approved by President Donald Trump, a mourn to honor former US President George H. W.

At 05:30 GMT, the EURUSD fell 0.18% to 1.1323 compared to the opening at 1.1343 after the pair reached a low of 1.1318 and a high of 1.1346.

The markets are looking for Spain's fourth-largest economy to reveal the PMI service index, which may show a contraction of 53.9 versus 54.0 last October. Before we see ECB Governor Mario Draghi's opening remarks at a conference European Central Bank on banking supervision in Frankfurt.

This comes ahead of Italy's third largest economy, the PMI reading, which reflects the stability of the contraction at 49.2, unchanged from October, and the final reading of the same index for both France and Germany, the region's biggest economy Which may show stability at 55.0 in France against 55.3 in October and 53.3 in Germany against 54.7.

The final reading of the euro zone PMI may also show stability at 53.1 versus 53.3 in October, leading to the Retail Sales Index reading for the region's economies as a whole, which could reflect a 0.2% rise versus a zero-point rally in September. , While the annual reading of the same index may show growth accelerating to 2.0% versus 0.8% in September's annual reading.

Technical analysis:

The EUR/USD pair is trading around the 1.1330 level after yesterday's strong decline as SMA 50 continues to push the pair lower, while Stochastic is beginning to cross negatively.

Therefore, these factors encourage us to continue the bearishness in the coming sessions, targeting 1.1300 and then 1.1181 as the next major stations, noting that the continuation of the expected decline depends on stability below 1.1443.

The trading range for today is expected among 1.1240 support and 1.1400 resistance.

Support and resistance:

Support: 1.1341-1.1294-1.1210;

Resistance: 1.1386-1.1443-1.1510.

The general trend for today is bearish.

Google shares closed yesterday's session down from the opening level after opening trading with a bullish price gap.

Where the stock opened the trading at 1122.70 and achieved the highest price at 1133.36 and closed at 1106.50 after reaching the lowest price at 1102.94, but the price is still higher than last week's closing and could not close the full price gap waiting for what will happen in today's session.

The price is currently trading above the 50-hour moving average which is at the close of the previous week. It is therefore far from correct that the price corrects the rise to the SMA50 level and then the continuation of the bullish path which began on November 20, 2018.

Stochastic is in the overbought area and gives a bearish cross but it is still in that area that is a sign of correction.

The MACD is still below the zero line but signals that the price has started to rise and is heading out of the negative territory below the zero line.

The trading range for today is among the key support at 109.26 and the key resistance at 1156.4

Support and resistance:

Support: 1095.26-1069.27-1037.6;

Resistance: 1156.4-1195.7-1237.5.

Gold futures traded in a tight range sloping upward during the Asian session to witness the highest since October 26 amid the decline of the dollar index for the fourth session in five sessions of the highest since 13 November last, according to the inverse relationship between them Following a talk by Federal Reserve Governor Jerome Powell and a member of the Federal Committee of the United States in Washington, and on the eve of the forthcoming speech of Federal Committee member and New York New York Fed Chairman John Williams in New York.

Gold futures for February delivery rose 0.10% to currently trade at $ 1,240.90 an ounce, the highest in six weeks compared to the opening at $ 1,239.60 an ounce, amid the decline of the US dollar index to 0.23% Levels of 96.81 show a three-week rebound from the top compared to the opening at 97.04.

We have followed Federal Reserve Governor Paul and Federal Committee member Brenard in celebrating the distinction in community development and guiding them to the inaugural opening of the Federal Reserve, Janet Yellen, for excellence in community development. Otherwise, investors are currently waiting for what Federal Committee member John Williams on domestic employment and workforce trends in the New York Fed.

Otherwise, we would like to point out that the testimony of Federal Reserve Governor Jerome Powell to the Joint Economic Committee for Congress, which was due to be seen on Wednesday on the economic outlook, was postponed because the forty-fifth President Donald Trump passed on December 5 of This year is a public holiday in the United States in honor of honoring former US President George HW Bush. W.

Paul's latest talk about rural America and the economy at the annual Housing Assistance Council meeting in Washington is expected to be held ahead of last week's US labor market data, which could reflect a stable unemployment rate of 3.7% for the third month in a row, Average hourly income, while reading the change in the employment of sectors other than agriculture may reflect a slower pace of job creation.

Technical analysis:

Gold is resuming today's positive trading to reach the awaited target at 1238.30, and the pair continues to receive positive support from the moving average 7-20-50, encouraging us to waiting the break of this level and extend the upside wave to target 1262.51 as the next major station.

Stochastic is trading in the overbought area. Therefore, the bullish bias will remain dominant during the coming sessions, noting that a break of 1228.00 might force the pair to test the 1208.40 areas before any new attempt to rise.

The trading range for today is among the support at 1227.00 and resistance at 1250.00.

Support and resistance:

Support: 1227.50-1221.10-1211.40;

Resistance: 1238.30-1242.70-1250.4.

The general trend for today is bullish.

The Australian dollar fluctuated in a narrow upward bias during the Asian session against the US dollar following talks by Federal Reserve Governor Jerome Powell and a member of the Federal Committee for Leil Brenner in Washington and following the economic developments and data that followed on the Australian economy and on the eve of revealing policy makers' The Reserve Bank of Australia's monetary policy on Tuesday and the expected talk of Federal Committee member and New York-based President of the New York Fed John Williams in New York.

At 02:58 GMT, the AUDUSD rose 0.03% to 0.7360 compared with the opening levels of 0.7358, after reaching a high of 0.7366, while the pair reached a high of 0.7349.

We have followed the Australian economy's current account reading, which showed the deficit narrowed to A $ 10.7 billion from A $ 12.1 billion in the second quarter, below expectations of A $ 10.2 billion deficit. Investors are now looking for the Australian Central Bank's monetary policy statement and decision as expectations for a 1.50% rise for the 27th consecutive meeting.

On the other hand, Fed Governor and member of the Federal Commission Bernard have been following in the celebration of excellence in community development and the inaugural opening of the Federal Reserve, Janet Yellin, for excellence in community development. Otherwise, Federal Committee John Williams on domestic employment and workforce trends in the New York Federal Reserve.

Technical analysis:

The AUDUSD is trading slightly higher today, in reference to the price trend to resume the expected bullish trend for the coming period, supported by the positive signal provided by Stochastic, pending a major test of 0.7437.

Therefore, we will continue to bias the upside move provided stability above 0.7277, noting that the breach of the target level will extend the bullish wave to reach 0.7566.

The trading range for today is expected among the support at 0.7320 and the resistance at 0.7440.

Support and resistance:

Support: 0.7367-0.7276-0.7235;

Resistance: 0.7441-0.7485.

The general trend for today is bullish.

The British pound has fluctuated in a tight range to retreat during the US session to see its lowest since the end of October against the US dollar following developments and economic data followed Monday by the British economy and the US economy, which included statements by Prime Minister Theresa Mai About the British exit from the European Union and the members of the Federal Committee in New York.

At the opening of a session for a day the pair rose against the US dollar 0.13% where he opened trading at levels of 1.2722 and achieved a price of 1.2748 or the lowest price of 1.2718

British PMI, which expanded to 53.1 versus 51.1 in September, surpassed expectations at 51.6. Otherwise, British Prime Minister Teresa Mae said she would remain in her position on the UK economy. Over the course of the next two weeks, explaining that there are a huge number of tasks that are working to accomplish it and not just the British exit agreement from the European Union.

May also noted that people call for a second referendum before we do the first referendum, referring to the opposition Labor Party to the convergence plan Nerwing, and hostess let us end the parliamentary referendum on December 11 on the British exit agreement regularly from the European Union, with Exclude a second referendum. It is noteworthy that the convergence plan includes the survival of Britain in the European Economic Zone in the event of the departure of Britain without an agreement from the Union.

Technical analysis:

GBPUSD has attempted to breach the pivotal support level at 1.2730 but is now fluctuating above it, keeping the bullish scenario intact so far, supported by Stochastic moving near oversold areas, mainly targeting 1.2963.

Moving averages are the highest price and push it further downward.

A break of 1.2730 will press the price to test the 1.2636 level initially before deciding the fate of the next short-term destination.

The trading range for today is expected among 1.2660 support and 1.2840 resistance.

Support and resistance:

Support: 1.2730-1.2698-1.2636;

Resistance: 1.2773-1.2843-1.2894.

The expected general trend for today: neutral.