Analytic reviews

The US dollar fluctuated in a narrow range slipping towards the Asian session to see its fourth session decline in six trading sessions since October 4th against the Japanese yen following developments and economic data that followed on the Japanese economy and on the eve of developments and economic data expected on Monday By the US economy, the world's largest economy.

At 05:48 GMT, the USDJPY dropped to 112.40 from the opening levels at 112.53 after hitting the lowest level since November 2 at 112.37, while the pair reached its highest level in trading Session at 112.63.

Technical analysis:

The USDJPY pair touched our first awaited target at 112.46 and is stabilizing. As the price does not support the ascending channel appearing in the picture, we continue to favor the bearish bias in the coming sessions, with our next target at 111.97.

The price is trading below the moving averages and the SMA 50 is pressuring the price to push it further bearish. While the stochastic has reached the oversold area and this reinforces the bearishness

We note that a breach of 112.96 then 113.56 will stop the negative scenario and lead the price to regain the main ascending path again.

The trading range for today is among the key support at 111.80 and resistance at 113.00.

Support and resistance:

Support: 112.5-111.80;

Resistance: 112.75-113.00-113.50.

The general trend for today is bearish.

London (Reuters) - The British pound fluctuated in a narrowly bullish range during the US session yesterday, completing corrective action following Thursday's worst daily loss in two years against the US dollar, following developments and economic data that followed Monday on the UK economy and its largest US economy World economy.

At 5:19 pm GMT, the GBPUSD pair rose 0.11% to 1.2848, compared with the opening levels at 1.2834 after the pair reached a high of 1.2884 and a low of 1.2795.

The UK's RTI saw a 1.7% drop from October's + 1.0%, and the annual reading of the same index dropped 0.2% from 0.9% in the previous year's reading.

Technical analysis:

GBPUSD has been trading around 1.2860 since yesterday and the price remains steady below 1.2962 pivotal resistance, so there is no change in the bearish scenario supported by the negative pressure coming from SMA 50. The Stochastic is on a sideway and does not give any clear signals, and we are waiting for a move towards 1.2636 which is our next main target.

The trading range for today is among the 1.2750 support and the 1.2920 resistance.

The general trend for today is bearish.

USDJPY

The pair is trading above 112.65. It may correct upwards against the background of profit taking following last week’s significant drop of the USD rate.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone. Stoch are trying to reverse upwards.

Trading recommendations:

If the pair takes hold above 112.65, it may go further up to 113.25 before resuming its decline.

The single currency of the European Union region rose significantly, showing its five-year low since 27 January, 2017, against the US dollar following developments and economic data that followed on Friday the economies of the eurozone and the US economy, the largest economy in the world, which included European Central Bank Governor Mario Draghi speaking at the Frankfurt European Banking Conference.

Today, at the opening of the Asian session, we see a correction and a slight decline of the EURUSD against the USD to 1.1400, compared with the opening levels at 1.1411 after the pair reached its highest level since November 8 at 1.1424.

Technical analysis:

The EURUSD pair rallied strongly to near our main target at 1.1443, reinforcing our bullish outlook, noting that a breach of this level would extend the pair's gains to 1.1550 as the next major station, while stability above 1.1300 is an important requirement for continued bullishness.

We are trading above the moving averages 7-20-50 and wait for the ideal order to consolidate its bullish movement. The Stochastic is moving in the overbought zone and a cross signal appears indicating a possible correction movement.

Support and resistance:

Support: 1.1342-1.1300;

Established: 1.1443-1.1500.

The general tendency: upward.

The British pound rose during the US session in corrective action following yesterday's worst daily performance in two years against the US dollar amid a lack of economic data by the British Royal economy in the last session of the week and following the developments and economic data that followed Friday on the US economy, the largest economy in the world.

Today, at the opening of the Asian session, we saw sterling open on a price gap at 1.2841.

Technical analysis:

GBPUSD is trading below the 1.2800 level, so the negative pressure remains intact, awaiting a move towards 1.2636, which is our next main target, while noting the importance of stability below 1.2962 to sustain the suggested bearishness.

Trades below the moving averages 20-50 which is negative pressure on the price and push it to the downside and break the moving average 7. At the same of the time the Stochastic is showing a bearish cross.

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

Support and resistance:

Support: 1.2800-1.2746-1.2680;

Resistance: 1.2850-1.2896-1.2930-1.2978.

The general trend for today is bearish.

Gold futures rose for the fourth session in a row for the fourth consecutive session since October 11 amid the decline of the dollar index for the third session in five sessions of its highest since 22 January 2017 following developments and data Economic growth that was followed Friday by the US economy, the world's largest economy.

Gold holdings at the SBDR Gold Trust Fund, the world's largest gold-backed fund, stabilized on Thursday for a second straight day at 761.16 metric tons. Gold prices last month ended their longest monthly losses since late 1996, rising in October for the first time in seven months.

Today, at the opening of the Asian markets opened the price of gold at 1221.9 levels and achieved the highest price of 1223.1 and the lowest price of 1219.9.

Technical analysis:

The price of gold traded positively and kept the price of gold steady above 1212.00.

The SMA 50 continues to support the price from the bottom, reinforcing expectations for a continuation of the bullish trend during the upcoming sessions.

Noting that our next main target is at 1238.30, and that the continuation of the expected rally depends on stability above 1212.00 and 1208.40. Which is an important condition for achieving the expected objectives.

Gold is currently trading above the moving averages 7-20 and 50 and waiting for the ideal arrangement, while the Stochastic is giving a bearish cross signal, which is a sign of a minor correction to the rally during the previous session.

The trading range for today is expected among the support at 1200.00 and the resistance at 1230.00.

Support and resistance:

Support: 1212.5-1208.6-1197.5;

Resistance: 1228.2-1235.0-1238.0.

The general trend for today is bullish.

Google shares rebounded last week, reaching 1062 per share, but it is trading below the moving averages of 7-20-50 and this will constitute a negative pressure on the stock, which leads to complete the bearish path.

The correct movement is reflected on the stochastic indicator where we see a bullish cross on it.

Expected movement will be between the support1001 and the resistance 1080.

Support and resistance:

Support: 1033-1001;

Resistance: 1080-1105.

The general trend is bearish as long as trading remains below the moving averages.

The US dollar fell during the Asian session for the sixth session of its highest since October 4 against the Japanese yen amid a lack of economic data by the Japanese economy.

Technical analysis:

USDJPY has been able to achieve negative targets, and we see that the price breaks the support of the ascending channel to open the way for the short-term extension of the downside wave, targeting 112.46 and 111.97 as the next major stations.

Therefore, the bearish bias will be likely in the coming sessions with the support of moving below the SMA 50, unless the pair breached the 113.56 level and stability above it.

The Stochastic is moving in the oversold area, which is confirming the potential downtrend.

The trading range for today is expected among the key support at 111.80 and the resistance at 113.40.

Support and resistance:

Support: 112.70-112.11-111.80;

Resistance: 113.12-113.40-113.70.

The general trend for today is bearish.

The British pound fell nearly two percent during the US session to its lowest since October 31 against the US dollar following developments and economic data followed Thursday by the British economy and the US economy, which included the resignation of the Minister of the British exit from the European Union Dominique Rab Of the government of Prime Minister Teresa Mae in protest against the draft agreement to leave the country from the Union followed by a series of resignations within the government and the ruling Conservative Party.

At 18:33 GMT, the GBPUSD fell 0.53% to 1.2908 compared to the opening levels at 1.2978 after the pair reached a low of 1.2882 and a high of 1.3036.

The UK Retail Sales report showed a 0.5% increase from 0.4% last September, above expectations of a 0.2% rise. The core reading of the same index excluding car fuel also showed a 0.4% drop compared to 0.3%. In September, also in contrast to expectations of a 0.2% rise.

In the same vein, the annual retail sales index showed growth slowing to 2.2% from 3.3% in the previous annual reading for September, below expectations of 2.8%. The core annual reading of the same index showed that growth slowed to 2.7% versus 3.6% Previous year for September, also below expectations at 3.4%.

Otherwise, we have followed some of the report that British Prime Minister Theresa May will hold a press conference later today and has not disclosed what her speech may contain, amid expectations that he might touch upon the draft of the UK exit agreement from the Union, which has received widespread criticism within Parliament British Prime Minister Tony Blair and British Prime Minister Tony Blair.

Technical Analysis

The pair ended yesterday's trading below 1.2800, putting the price under more negative pressure expected in the coming sessions, targeting 1.2636 as the next major stop.

Therefore, the bearishness will be likely to be supported today by the SMA 50 and the ideal arragment of the moving averages of 7-20-50, unless the price breaks to breach the level of 1.2962 and stability above it.

Stochastic is trading in the oversold area and gives a bearish signal in preparation for the exit this area

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

Support and resistance:

Support: 1.2746-1.2696-1.2636

Resistance: 1.2812-1.2875-1.2935-1.2975

The general trend for today is bearish

The single currency of the European Union region fluctuated in a narrow upward range to see its fifth session retreat from its lowest level since 22 January 2017 against the US dollar on the eve of economic developments and data expected Friday by the Euro-Zone economies and the US economy, which include European Central Bank Governor Mario Draghi spoke at the Frankfurt European Banking Conference.

At 5:31 am GMT, the EURUSD rose 0.10% to 1.1339, compared to the opening at 1.1328, after reaching a high of 1.1343, while reaching a low of 1.1322.

The markets are looking for the largest economies in the euro-zone Germany to release the wholesale price index, which may reflect a slowdown in growth to 0.2% from 0.4% last September, before we see the final annual reading of the consumer price index for the whole euro zone which may reflect acceleration Growth to 2.2% compared to the previous preliminary reading for October and the previous annual reading for the month of September 2.1%.

In the same context, the core final annual reading of the consumer price index for the euro zone as a whole may reflect a steady pace of growth of 1.1%, unchanged from the previous October preliminary reading and 0.9% in the previous annual reading for September , Leading to German central bank governor Jean Wiedmann at the Frankfurt European Banking Conference.

On the other hand, investors are looking ahead to the US economy, the world's largest industrial nation, to release industrial data for the month of October with the release of the Industrial Production Index, which may reflect a slowdown in growth to 0.2% versus 0.3% in September, The energy utilization rate, which may indicate a rapid growth rate to 78.1% compared with 78.3% in September.

Technical Analysis:

The EUR / USD pair has kept its daily close above 1.1300, to continue the bullishness over intraday and short term, motivation by Stochastics’ positive cross,  and awaiting a visit to 1.1443 which is our next main target.

The pair is trading above the 50 SMA which is probably to push the price towards the next target, provided stability above 1.1300 and the ideal arrangement for the moving averages is 7-20-50, respectively below the price level

Recall that the break of 1.1300 and stability below it will press the price to achieve negative targets starting at 1.1181.

The trading range for today is expected among the key support at 1.1250 and resistance at 1.1440

Support and resistance:

Support: 1.1330-1.1300-1.1250

Resistance: 1.1370-1.1400-1.1450

The general trend for today is bullish