Analytic reviews

GBPUSD

The pair is consolidating above 1.2700 in expectation of the vote on Brexit deal in the British Parliament that may result in a motion of no confidence in Theresa May if the deal, which is deemed unfavorable for the UK, doesn’t pass.

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

Trading recommendations:

If the pair is below the level of 1.2700, it may drop to 1.2580.

The single currency of the European Union region rose during the Asian session to see its fourth session retreat in five sessions since November 14 against the US dollar following talks by Federal Reserve Governor Jerome Powell and a member of the Federal Committee for Leil Brenner in Washington, Economic developments and data expected Tuesday by the euro-zone economies and the expected talk of a member of the Federal Commission and the head of New York's New York Fed John Williams in New York.

The pair rose 0.21% to 1.1378 compared to the opening at 1.1354 after the pair reached a high of 1.1382 and a low of 1.1350.

The markets are looking for France's second-largest economy to unveil the French government's October budget reading before the Spanish economy, the fourth-largest economy in the eurozone, saw a reading of the Unemployment Change Index, which may reflect a drop to 34.2K Compared with 52.2 thousand in October.

To reveal inflation data for the euro zone as a whole with the reading of the producer price index, which is a preliminary index of inflationary pressures, which may show a stable growth of 0.5%, unchanged from the previous September, as may show the annual reading of the same PPI Stable growth at 4.5%, coinciding with the launch of the meetings of the Ministers of Finance of the euro area ECOFIN in Brussels.

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 EUR/USD pair has been trading sideways since yesterday and remains stable below the 1.1400 mark, noting that Stochastic is close to providing a negative cross signal on the daily basis, waiting for the price to resume the expected bearish intraday and short-term targeting levels 1.1300 and 1.1181 mainly.

Recall that the break of 1.1443 will stop the suggested negative scenario and lead the price for gains starting at 1.1550 then 1.1705.

The trading range for today is expected among 1.1270 support and 1.1440 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 trading with a gap following the meeting of Donald Trump with Xi Jinping at G20 summit in Argentina, which turned out to be positive for the market. Overall growth of the demand for risk assets and lower tension on the markets may lead to the further local growth of the pair. 

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI has entered the overbought territory. Stoch are also entering this area.

Trading recommendations:

If the pair remains above 0.7340, it may move further up to 0.7450.

Sberbank stock is trading within the triangle which shows in the chart and we are waiting to break through one triangle to confirm the trend.

The price is trading at the support level of 193.15 below the moving average 20 and at the level of the Moving averages of 7-50 therefore we wait for the price movement for the next session to determine the trend.

The stochastic indicator gives a bullish cross signal that may reverse the price and push it towards the resistance level of 203.8.

Trading range within the triangle between 186.1 and resistance is 203.8.

Support and resistance:

Support: 193.15-186.1-179.2;

Resistance: 206.7-215.05.

Gold futures rose during the Asian session to witness the highest since November 7 amid the decline of the dollar index for the third session in four sessions of the highest since 13 of last month, according to the inverse relationship between them on the eve of developments and economic data expected on Monday from Ahead of the US economy, the largest economy in the world, including the FOMC meeting in New York.

Gold futures for February delivery rose 0.37% to currently trade at $ 1,230.50 per ounce, the highest in four weeks compared to the opening at $ 1.227.80 per ounce, amid the decline of the US dollar index to 0.33% 96.95 has been shown to resume its bounce from the top in three weeks compared to the opening at 97.13.

Investors are now eyeing what Federal Reserve Deputy Governor Richard Clareda will say in an interview on Bloomberg News Agency radio and television, ahead of Federal Reserve Vice President Randall Quarles on the economic outlook and monetary policy at the Council on Foreign Relations in New York.

Before another Federal Open Market Committee member, Federal Reserve Bank of New York Chairman John Williams, took stock of the opening remarks at the US Treasury Bank's Structural Development Conference hosted by the Bank of New York, leading to the final reading of Markit's PMI by month Which may reflect the widening stability at 55.4 and 55.4 in October.

In the same context, the index of the Industrial Supply Institute (ISI) for the past month may reflect a contraction of 57.5 versus 57.7 in October, and the index itself may show a price index of 70.1 versus 71.6, Which could reflect a 0.4% rise versus stability at zero levels in September.

To Federal Reserve Vice Governor Lyle Bernhard at the Structural Development Conference of the US Treasury, just hours before Fed Chairman Jerome Powell told the Joint Economic Committee of Congress on Wednesday about the economic outlook in Washington. The economy and rural America in the annual event of the Housing Assistance Council also in Washington.

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, explained that both US President Donald Trump and his Chinese counterpart Xi Jinping discussed a range of controversial issues, including the ongoing trade dispute Between Washington and Washington, which foreshadows a trade war between the world's biggest economists.

"President Trump agreed that on Jan. 1, 2019 tariffs on Chinese products estimated at $ 200 billion will be left at a rate of 10 per cent and will not be raised to 25 per cent on that date," the White House statement said yesterday. 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, Xi Jinping, for a three-month trade hiatus 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 lost relative appeal last week due to market pricing for a speech Powell 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.

Technical analysis:

Gold opened this week with a gap at 1224.87 compared to last week's closing 1222.24 as succeeded to close the gap and rebounded to complete the intraday bullish move.

Gold is trading above the moving averages which formed a positive pressure on the price and prevented it from falling further when it tried to close the gap and is likely to push it higher.

As for the Stochastic, it is approaching the area of ​​saturation of the purchase in a positive sign of the high price of gold.

The trading range between support 1221. and resistance 1232.41.

Support and resistance:

Support: 1221.0-1211.4-1208.6;

Resistance: 1227.57-1232.40-1238.3.

The overall trend is bullish.

The Australian dollar fluctuated in a tight range slipping during the Asian session to narrow a limited part of the rising price gap that the pair initiated this week and the current month against the US dollar following developments and economic data that followed the Australian economy and on the eve of developments and economic data expected on Monday by The US economy is the largest economy in the world, including the FOMC meeting in New York.

At 02:53 GMT, the Australian dollar fell 0.15% to 0.7360, compared to the opening levels of 0.7371 after the pair reached a low of 0.7348, while its highest since August 21, Last August at 0.7384, knowing that the pair closed last week and last November at 0.7306.

We have followed the Australian economy to release the Australian Industrial Group's (AIG) manufacturing index, which showed a narrowing of the widening to 51.3 versus 58.3 last October before we saw the inflation gauge reading by the Melbourne Institute (MI) Which showed stability at zero levels versus 0.1% growth in October, while the annualized reading showed slower growth to 1.6% versus 1.9%.

This came ahead of the release of the housing market data, with a reading of the Building Permits Index, which showed a 1.5% drop from 5.5% last September, worse than the 1.4% drop. Compared to 14.1%, beating expectations that the decline will decline to 14.0%.

In conjunction with the release of preliminary data for the Australian labor market with the publication of the job ads index, which showed a decrease of 0.3% compared to a rise of 0.3% in October, and the publication of the index of corporate operating profits, which showed growth slowed to 1.9% compared to 2.4% in the second quarter in contrast to expectations for accelerated growth to 2.9%.

Otherwise, investors are now waiting to see the November CPI reading at 5:30 am GMT, ahead of Australian Central Bank decision on interest rates on Tuesday and Australia's third-quarter growth data released tomorrow Wednesday, in addition to the disclosure of monetary policy statement by the Reserve Bank of Australia later this week.

On the other hand, investors are currently waiting for what Federal Reserve Governor Richard Clareda will say in an interview with Bloomberg News & Broadcast prior to Federal Reserve Deputy Governor Randall Quarles on Economic Outlook and Monetary Policy at the Council on Foreign Relations in New York.

Before another Federal Open Market Committee member, Federal Reserve Bank of New York Chairman John Williams, took stock of the opening remarks at the US Treasury Bank's Structural Development Conference hosted by the Bank of New York, leading to the final reading of Markit's PMI by month Which may reflect the widening stability at 55.4 and 55.4 in October.

In the same context, the index of the Industrial Supply Institute (ISI) for the past month may reflect a contraction of 57.5 versus 57.7 in October, and the index itself may show a price index of 70.1 versus 71.6, Which could reflect a 0.4% rise versus stability at zero levels in September.

To Federal Reserve Vice Governor Lyle Bernhard at the Structural Development Conference of the US Treasury, just hours before Fed Chairman Jerome Powell told the Joint Economic Committee of Congress on Wednesday about the economic outlook in Washington. The economy and rural America in the annual event of the Housing Assistance Council also in Washington.

Technical analysis:

The AUDUSD starts today with a significant rally approaching the 0.7400 barrier and is getting positive support from Stochastic and SMA 50, awaiting further upside in the coming sessions as the price within the ascending channel appearing in the image is organized, At 0.7437.

Stability above 0.7277 and 0.7240 is important for the continuation of the expected rally.

The trading range for today is expected among the support at 0.7300 and the resistance at 0.7440.

The general trend for today is bullish.

The price fluctuated in a sideways path as the pair rallied 0.50% as it opened at 1.2763, recording the highest of 1.2783 and the lowest at 1.2728.

The GBP / USD pair has been hit by the pivotal support test, which is now rising to 1.2730 and rebounding from there, keeping the bullish scenario intact so far, supported by Stochastic positive, awaiting a key test of 1.2963.

Keep in mind that a break of 1.2730 will press the price to test the 1.2636 level tentatively before deciding the next destination more precisely.

The trading range for today is expected among 1.2700 support and 1.2880 support.

Support and resistance:

Support: 1.2773-1.2725-1.2636;

Resistance: 1.2843-1.2894-1.2963.

The general trend for today is bullish.

The single currency of the European Union region surged to the euro during the Asian session to see its rebound to a third session in four sessions from its lowest since November 14 against the US dollar on the eve of developments and economic data expected Monday by the economies of the euro area and the US economy the world's largest economy Which includes a discussion of members of the Federal Open Market Committee in New York.

The pair rose 0.42% to 1.1365, compared with the opening at 1.1330, after reaching the highest level at 1.1369, while the lowest level at 1.1326. The pair ended the trading session Last week at 1.1317 and opened this week on a bullish gap.

Markets are looking to release the Industrial PMI from Spain, the fourth-largest economy in the euro zone, which could reflect a contraction of 51.5 versus 51.4 in October and the same indicator for Italy, the third-largest economy, reflecting a contraction of 48.9 versus 49.2 in October.

This comes ahead of the final reading of the Markt industrial PMI for France and Germany last month, which may reflect stability at 50.7 in France, 51.2 in October, 51.6 in Germany and 52.2 in October, The Markt Industrial PMI for the whole euro zone is stable at 51.5 versus 52.0 in October.

On the other hand, investors are currently waiting for what Federal Reserve Governor Richard Clareda will say in an interview with Bloomberg News & Broadcast prior to Federal Reserve Deputy Governor Randall Quarles on Economic Outlook and Monetary Policy at the Council on Foreign Relations in New York .

Before another Federal Open Market Committee member, Federal Reserve Bank of New York Chairman John Williams, took stock of the opening remarks at the US Treasury Bank's Structural Development Conference hosted by the Bank of New York, leading to the final reading of Markit's PMI by month Which may reflect the widening stability at 55.4 and 55.4 in October.

In the same context, the index of the Industrial Supply Institute (ISI) for the past month may reflect a contraction of 57.5 versus 57.7 in October, and the index itself may show a price index of 70.1 versus 71.6, Which could reflect a 0.4% rise versus stability at zero levels in September.

To Federal Reserve Vice Governor Lyle Bernhard at the Structural Development Conference of the US Treasury, just hours before Fed Chairman Jerome Powell told the Joint Economic Committee of Congress on Wednesday about the economic outlook in Washington. The economy and rural America in the annual event of the Housing Assistance Council also in Washington.

Technical analysis:

EUR / USD fluctuates around the 1.1350 level. Stochastic is gradually losing its positive direction towards the overbought areas, while the pair is waiting to stimulate the resumption of the expected bearishness over the short and short term, whose targets start above 1.1300 to open the way towards the 1.1181.

We note that stability below 1.1443 is important for the continuation of the expected decline, as breaching it will lead the price to target the levels of 1.1550 then 1.1705 initially.

The trading range for today is expected among the 1.1250 support and 1.1400 resistance.

Support and resistance:

Support: 1.1341-1.2942-1.1210;

Resistance: 1.1386-1.1443-1.1500.

The general trend for today is bearish.

Lukoil reached the lower channel line in which it trades and was unable to breach it as it rebounded to continue the bullish path it has started since October 25, 2017.

The price now trades above the moving average 7 and below the moving averages 20 and 50 in a bullish intraday move.

The stochastic indicator gives bullish indicators and moves towards the overbought area in a reversal of the price action.

Support and resistance:

Support: 4581.4;

Resistance: 4870.25-5036.9.

The trading range between support 4581.4 and resistance 4870.4.

The general trend is bullish.

Gold futures rallied during the US session to rebound for the second consecutive session from its lowest since Nov. 15, defying the positive stability of the dollar index for the fifth session in seven sessions of its lowest since the seventh of this month according to the inverse relationship between them following developments And economic data that followed on Thursday by the US economy and on the eve of disclosure of housing market data and the minutes of the Federal Committee meeting held on the seventh and eighth of this month.

Today, at the opening of the Asian market, gold futures for February delivery rose to $ 1223.90 per ounce from $ 1.223.60 per ounce, reaching $ 1225.11 per ounce. The dollar index rose 0.05% to 96.83 compared to the opening at 96.79.

US personal income and expenditure data showed that personal spending growth accelerated to 0.6% from 0.2% in September, beating expectations of 0.4% growth. Personal income reading accelerated growth to 0.5% Versus 0.2% in September, also surpassing forecasts for 0.4% growth.

This came in conjunction with the reading of the index of requests for aid for the week ending on 24 of this month, which showed a rise of 10 thousand applications to 234 thousand applications in the previous weekly reading, contrary to expectations at 221 thousand requests, as indicated by the reading of the index of continuing claims for the week of 17 Of the month, up by 50 thousand to 1,710 thousand applications against 1,660 thousand applications, worse than the expectations of 1,663 thousand applications.

Gold holdings in the SBDR Gold Trust Fund, the world's largest gold-backed index fund, settled Wednesday for a second straight day at 761.74 metric tons. Gold prices last month ended their longest monthly loss rally since late 1996, rising in October for the first time in seven months.

Technical Analysis:

The price of gold remains above SMA 50, while Stochastic is shedding its negativity towards oversold areas, while the pair is waiting to stimulate the resumption of the expected bullish intraday direction targeting the 1238.30 level.

Stability above 1208.40 represents the most important condition for the continuation of the expected rally.

The trading range for today is among the support at 1211.00 and resistance at 1238.00.

Support and resistance:

Support: 1221.1-1211.4-1208.60-1200.00-1195.9;

Resistance: -1227.5-1232.40-1238.30.

The general trend for today is bullish.