Analytic reviews

The US dollar fluctuated in a narrow range slipping towards the Asian session to see its fifth session decline in nine sessions from its highest since October 4, 2018, against the Japanese yen following developments and economic data that followed on the Japanese economy and amid a lack of economic data on Thursday by the US economy is the biggest economy in the world because of the Thanksgiving holiday in the United States.

The US dollar against the Japanese yen did not achieve any meaningful movements as the session opened at 112.9.

On the Japanese economy, we saw the National Consumer Price Index (NFP) annual reading, which showed growth accelerated to 1.4% in line with expectations compared to 1.2% in the previous annual reading for September, while the annual readings of the same index excluding fresh and excluded food And energy stability at 1.0% and 0.4%, respectively, in line with expectations.

Technical analysis:

The USD / JPY pair is trading slightly below the broken support of the ascending channel and is under negative pressure formed by SMA 50. The downside scenario remains valid for the coming period, relying on stability below 113.56, with our awaited targets at 112.10 111.45.

The trading range for today is expected among the support at 112.00 and the resistance at 113.56.

Support and resistance:

Support: 112.10-111.45;

Resistance: 112.90-113.50.

The general trend for today is bearish.

The New Zealand dollar fluctuated in a tight range slipping towards the Asian session to see a rebound to the fourth session in six sessions since June 26th against the US dollar amid a lack of economic data in the last session of the week by the New Zealand economy and on the eve of developments and economic data expected On Friday by the US economy, the world's largest economy.

At 04:08 GMT, the New Zealand dollar was down 0.07% at 0.6809 compared to the opening levels of 0.6814 after the pair reached a low of 0.6802 and a high of 0.6815.

The market is currently looking for a preliminary reading of the PMI index for the US for the month of November, amid expectations of the expansion of the industrial sector to 55.8 compared to 55.7 last October and the expansion of the service sector to 55.0 Compared with 54.8 in October.

Technical analysis:

The NZDUSD attempted to breach 0.6795 yesterday but was unable to hold below it, and the price is currently below the moving averages, noting that Stochastic is approaching the overbought areas, to form a negative factor, we expect the price to trigger the desired break and then Open the way towards our negative targets starting at 0.6700 then 0.6654.

All in all, we will maintain our bearish bias unless the 0.6850 level is breached and stability above it.

The trading range for today is among the key support at 0.6720 and resistance at 0.6880.

Support and resistance:

Support: 0.6800-0.6720;

Resistance: 0.6880-0.6972.

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 following developments and economic data that followed on the Eurozone economies and amid a lack of economic data Thursday by the US economy due to the Thanksgiving holiday in the United States.

Today, at the opening of the Asian session, the EUR / USD pair rose to 1.1414 compared to the opening at 1.1398.

We followed the release of the minutes of the European Central Bank's monetary policy meeting held on the 25th of last month in which ECB monetary policy makers agreed to stay at zero interest rates and stabilize the marginal lending rate at 0.25% while maintaining the deposit interest rate Negative -0.40%, amid the progress of the quantitative easing program until the end of the year by 15 billion euros per month.

Technical analysis:

The EURUSD pair is showing a fresh positive move towards a possible test of 1.1443 supported by the 7-20 trading averages which is trading below the price, while SMA 50 continues to pressure the price, the stochastic is in a sideways direction and does not give any information.

Therefore, we will keep our bearish outlook intact below 1.1443, with our first major target at 1.1300.

The trading range for today is expected among 1.1300 support and 1.1443 resistance.

Support and resistance:

Support: 1.1386-1.1341-1.1292-1.1216;

Resistance: 1.1442-1.1500-1.1550.

The general trend for today is bearish.

EURUSD

The weak data of the industrial business activity index in Germany negatively affected the pair and it dropped to the support level of 1.1365. It’s supposed that if the eurozone’s indicators show the same values, the pair will continue its local fall.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI has crossed the level of 50% and suggest selling. Stoch are moving down.

Trading recommendations:

If the price goes below 1.1365, it may drop locally to 1.1300.

EURUSD

The pair is slowly growing as Thanksgiving Day is celebrated in the US. It’s likely to remain within the range of 1.1360–1.1455. It’s affected negatively by the dispute between Italy and the European Commission over the country’s budget, but supported by the expectations of the Fed taking a break from interest rates hike in early 2019.

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

Trading recommendations:

The price is quite likely to grow up to 1.1450–55. Sell the pair from this level with a target of 1.1360.

Aeroflot shares gained during the previous session as the resistance zone indicated in gray. The stock is still trading within the descending channel and approaching the top line of the channel.

The price is hovering above the moving averages, especially the moving average 50, which may be a strong support for the price if it is stable above it, while the Stochastic is giving a bullish cross towards the overbought area.

Support and resistance:

Support: 101.62-90.22;

Resistance: 108.8-111.6-120.40.

The New Zealand dollar fell during the Asian session to see its rebound for the third session in five sessions of its highest since June 26, 2018, against the US dollar following developments and economic data that followed the New Zealand economy and amid the lack of economic data Thursday by the US economy because of the Thanksgiving holiday.

At 02:58 GMT, the New Zealand dollar was down 0.20% at 0.6820 compared with the opening levels at 0.6834, the pair's highest at 0.6814.

We have followed the New Zealand economy with the seasonally adjusted Net Migrants Index, which showed a rise of 4.0%, or 4,660 people, against 1.9%, or 4,630 people, in September. Compared to a rise of 0.8% in September, while the annual reading of the same index showed a slowdown in growth to 6.3% versus 7.8%.

Technical analysis:

The NZDUSD made a positive trading session yesterday, but did not reach the previously breached bullish channel to bounce back significantly and start testing the pivotal support 0.6795, noting that the price is drawing a double top pattern shown in the image, which means that a break of 0.6795 - 0.6780 will stimulate price on the delivery of negative trades over the short and short term.

Therefore, the bearish bias will be likely in the coming sessions unless the 0.6850 level is breached and stability above it, noting that our awaited targets start at 0.6700 then 0.6654.

The trading range for today is among the key support at 0.6720 and resistance at 0.6850.

Support and resistance:

Support: 0.6800-0.6720;

Resistance: 0.3880-0.6972.

Gold futures traded in a narrowly bullish range during the Asian session to see a 7-session bounce back in eight sessions since October 11, 2018, as the US dollar index fell to a sixth in nine sessions since January 22, 2017, according to the inverse relationship between them amid a lack of economic data Thursday by the US economy, the largest economy in the world, because of Thanksgiving holiday in the United States.

Gold futures for December delivery rose 0.01% to currently trade at $ 1,228.10 an ounce, showing a six-week low from the opening at $ 1,228.00 an ounce, amid a drop in the dollar index. The US dollar dropped 0.08% to 96.63, showing a rebound from the highest level since the beginning of last year compared to the opening at 96.71.

On Wednesday, US President Donald Trump expressed his desire for the Federal Reserve to cut interest rates. President Trump has recently sent many sharp criticisms to the Federal Reserve, happy with the people he appointed within him, with the exception of Federal Reserve Governor Jerome Powell.

Technical analysis:

The price of gold offers further bullishness on its way towards our main target at 1238.30, and the upside move is likely to be supported in the coming sessions supported by the 50 SMA and Stochastic, noting that the continuation of the expected rally depends on stability above 1208.60.

Support and resistance:

Support: 12221.1-1211.4-1206.4;

Resistance: 1233.0-1238.00.

The slope of my side flag tends to rise.

The British pound and the US economy, the largest economy in the world, have said that British Prime Minister Teresa Mae has warned of the developments in the country's exit from the European Union before meeting with European Commission President John Claude Juncker in Brussels to discuss the draft exit agreement and agree on the final points on the threshold of the final declaration of the agreement.

Today, in the Asian session, the GBPUSD pair rose slightly to 1.2780, compared with the opening levels at 1.2773 after the pair reached a low of 1.2764 and a high of 1.2785.

We followed the RBA reading of the Public Sector Net Borrowing Index, which showed that the surplus widened to £ 8.0 billion from £ 2.0 billion in September, beating expectations that the surplus would widen to £ 5.6 billion, the British Prime Minister Teresa Mae noted that negotiations are continuing on the shape of the future relationship with the EU.

May also said it wants to ensure good trade relations with the European Union and is looking for alternatives to the agreement to leave Britain from the European Union, given the seriousness of the exit from the Union without reaching an agreement, adding that the final agreement will be reached before the meeting of the British Parliament amid the confirmation of her government's quest to reach For an agreement that guaranteed the interests of the British people in the Gibraltar peninsula and they still supported that file.

Technical analysis:

The GBPUSD pair has been trading in a narrow range since yesterday and is trying to resume the bearish trend calmly as the price remains steady below 1.2800. Therefore, there is no change in the expected short and short term downside scenario, with next target at 1.2636. A breach of 1.2800 positive factors will lead the price to visit 1.2962 before any new negative attempt.

The indicators are pressuring the price for further decline as the moving averages are 7-20-50 in an order above the price.

The Stochastic is also showing a bearish cross near the oversold area.

The trading range for today is expected among 1.2680 support and 1.2850 resistance.

Support and resistance:

Support: 1.2680;

Resistance: 1.2810-1.2850-1.2890-1.2945.

The general trend for today is bearish.

The single currency of the European Union region rose during the US session to rebound to a sixth session in eight sessions from its lowest since June 27, 2017, against the US dollar amid a lack of economic data from the Eurozone economies and following developments, and economic data that followed on Wednesday.

Today, at the opening of the Asian session, the EURUSD rose to 1.1390 ​​from the opening levels of 1.1381 after the pair reached a high of 1.1399 while the lowest at 1.1378.

Technical analysis:

EURUSD fluctuated near the 1.1400 level and remains below it while Stochastic continues to provide negative signals. SMA 50 is pushing the price and pushing for further downside and as long as the price is below 1.1443, the downside scenario will remain likely over the coming sessions, The major starts at 1.1300 and extends to 1.1181.

Support and resistance:

Support: 1.1386-1.1341-1.1292-1.1216;

Resistance: 1.1452-1.1500-1.1550.

The general path is closer to the landing.