Analytic reviews

Gold futures traded in a narrowly bullish range during the Asian session to see their fourth straight session bounce back since October 11 as the dollar index fell for a third session in five sessions from its highest since January 22 From 2017 according to the inverse relationship between them on the eve of developments and economic data expected Friday by the US economy.

Gold futures for December delivery rose 0.10% to currently trade at $ 1,215.60 an ounce, showing a five-week decline from the opening at $ 1,214.40 per ounce, amid a drop in the dollar index 0.5% to 96.99 levels, indicating a resumption of the bounce from the top since early last year compared to the opening at 97.05.

Investors are eyeing the US economy to release industrial data for the month of October with the release of the Industrial Production Index, which could reflect a slower pace of growth to 0.2% versus 0.3% in September, and a reading of the Energy Utilization Index Growth accelerated to 78.1% from 78.3% in September.

Technical Analysis:

The price of gold closed yesterday's trading above 1212.00, which is a positive factor and we expect the price to rise during the coming sessions, targeting the 1238.30 level mainly.

Therefore, the bullish trend will be likely over the intraday basis supported by moving above SMA 50, and the Stochastic is floating in the overbought area.

With a break of 1212.00 then 1208.40 will stop the expected rally and press the price to resume the bearish main direction again.

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

Support and resistance:

Support: 1212.0-1208.6-1203.0

Resistance: 1219.0-1224.0-1230.0

The general trend for today is bullish

The share price of Spear Bank rose, supported by moving averages and reached the upper limit of the down channel which has been trading in it since February 27, 2018.

The price is formed double top formation and this may push the price back to support levels.

We have to be attention that breaking the top line of the channel and stability above it may end the bearish trend and push the price to rise towards resistance levels 220

The Stochastic has retreated from the oversold area it had previously reached and is now in a sideways path where the indicator line intersects, limiting the bearish movement.

Support points 198-192-183.

Trading range between support 183 and resistance 204.

The expected general trend: bearish.

USDJPY

The pair is trading on the level of 113.30, while remaining in a short-term uptrend. If this level is passed, a local fall is possible against the backdrop of the growing tension in the world’s markets.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving down. Stoch have reversed downwards.

Trading recommendations:

After the pair passes 113.30 and takes hold below, it may drop to 112.80.

Gold futures fluctuated in a narrowly bearish range, shrugging off the dollar's fourth-day high since January 22, 2017, according to the inverse relationship between them after Federal Reserve Governor Jerome Powell spoke in Dallas on the eve of economic developments and data Which is expected on Thursday by the US economy, which includes another speech to Powell in Dallas and the talk of members of the Federal Committee Governor of the Federal Randall Quarls in Washington and President of the Federal Bank of Atlanta Rafael Postek in Madrid.

Gold futures for December delivery fell 0.12% to currently trade at $ 1,210.40 per ounce, compared with the opening at $ 1,211.80 per ounce, while the US dollar index fell 0.10% to 96.92. The highest since the beginning of last year compared to the opening at 97.01.

Federal Reserve Governor Jerome Powell, Federal Reserve Chairman and Federal Reserve Chairman Robert Kaplan, spoke about many economic issues at the Dallas Federal Reserve event, where he did not show any indication that broad volatility and recent declines in financial markets Global will play no role in Fed monetary policy decisions.

Otherwise, investors are looking ahead to the US economy to reveal the reading of retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of the gross domestic product of the United States, the world's largest economy, which may reflect accelerated growth to 0.6% from 0.1% in September, While the core reading of the Retail Sales Index may show a 0.5% rise versus a 0.6% drop in September.

In conjunction with the reading of the index of claims for the week ending on 10 November, which may reflect a decrease of 1 thousand to 213 thousand applications compared to 214 thousand applications in the previous weekly reading, and the disclosure of reading PMI industrial for Philadelphia and New York, which may Showed a contraction in breadth over the past month as Philadelphia expanded to 20.1 versus 22.2 in New York and to 19.9 from 21.1.

Technical analysis:

The price of gold ended yesterday's trading below 1212.00, so the negative effect of the double top pattern remains effective, which encourages us to maintain our bearish outlook for the coming period. The price needs to break below 1208.40 and then 1200.00 to confirm the opening towards 1180.00 which represents our next target.

SMA 50 is a negative pressure to support the bearish outlook, noting that stability below 1212.00 is important for the continuation of the suggested negative scenario.

While the Stochastic indicator gives signs of a rise in the saturation zone of the buy

The trading range for today is among the support at 1190.00 and resistance at 1220.00

Support and resistance:

Support: 1208.6-1200.0-1195.80-1187.80

Resistance: 1212.0-1220.0-1224.5

The general trend for today is bearish

The British pound rose on Thursday after reports that British Prime Minister Theresa May had received support from her ministry for Britain's exit deal, Brexit.

The deal will keep the UK within the EU customs union for an unspecified period and include a 21-month transition period after leaving the UK in March next year, according to the BBC.

Today, in the Asian session, GBPUSD rose to 1.3023 compared to the opening at 1.2982, after reaching a high of 1. 3023, while reaching a low of 1.2978

Markets are looking ahead to the release of retail sales, which is expected to show a growth of 0.2% after reading previous -0.8%

Technical analysis:

The pair returned to the dollar to settle above 1.2962 after trying to break it yesterday, keeping the bullish scenario intact so far, with the next key target at 1.3226.

Moving above SMA 50 supports the expected rally, while breaking 1.2962 will press the price to achieve negative targets starting at 1.2800.

While the Stochastic is still pointing upwards and heading towards the overbought area.

The trading range for today is expected among 1.2900 support and 1.3100 support.

Support and resistance:

Support: 1.300-1.2960-1.2930-1.2875;

Resistance: 1.3070-1.3100-1.3170.

The general trend for today is bullish.

The single currency of the European Union region rose to its lowest level since January 22, 2017 against the US dollar and following Fed Governor Jerome Powell's speech in Dallas and on the eve of economic developments and data expected Thursday by the economies of the region The euro and the US economy, which include another speech to Paul in Dallas and the talk of the Federal Committee members, are Governor of the Federal Randall Quarles in Washington and President of the Federal Reserve Bank Rafael Postek in Madrid.

At 04:55 GMT, the EURUSD rose 0.25% to 1.1338 compared to the opening at 1.1310, after reaching a high of 1.1339, while reaching a low of 1.1308.

The markets are currently looking for Eurozone economies as a whole to unveil a seasonally adjusted trade balance index, which could reflect a contraction of the surplus to 16.4 billion euros from 16.6 billion euros last August. Investors are looking for developments in Britain's exit from the European Union In the wake of the negotiators of the parties reached a draft agreement and the approval of the British Council of Ministers yesterday.

Otherwise, investors are looking ahead to the US economy to reveal the reading of retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of the gross domestic product of the United States, the world's largest economy, which may reflect accelerated growth to 0.6% from 0.1% in September, While the core reading of the Retail Sales Index may show a 0.5% rise versus a 0.6% drop in September.

In conjunction with the reading of the index of claims for the week ending on November 10, which may reflect a decrease of 1 thousand to 213 thousand applications compared to 214 thousand requests in the previous weekly reading, and the disclosure of the readings of industrial purchasing managers of Philadelphia and New York, which may Showed a contraction in breadth over the past month as Philadelphia expanded to 20.1 versus 22.2 in New York and to 19.9 from 21.1.

To the forthcoming speech by Federal Reserve Governor Jerome Powell again at the event hosted by the Dallas Dallas Reserve Bank on Hurricane Recovery efforts before we see Federal Reserve Chairman and Fed Chairman Rafael Postk talking about monetary policy at the Center Takaful International in the Spanish capital Madrid

Technical analysis:

The EURUSD closed yesterday's trading above 1.1300, leading the pair to a bullish intraday trend, targeting 1.1443 in the coming sessions, supported by the positive sign from Stochastic.

Thus, the bullish trend will be likely for today unless the 1.1300 level is broken and stability below it again.

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

Support and resistance:

Support: 1.1300-1.1250-1.12150;

Resistance: 1.1330-1.1357-1.1400.

The general trend for today is bullish.

EURUSD

The pair is trading on the support level of 1.1335 in expectation of the US consumer inflation data. If the inflation pressure is stronger, the pair may reverse downwards.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and is growing. Stoch are also growing.

Trading recommendations:

If the US data is string, the price may drop to 1.1220.

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its rebound to its third-lowest session since 22 January 2017 against the US dollar on the eve of developments and economic data expected Wednesday by Euro-Zone economies and the economy. The largest economy in the world.

At 05:02 GMT, the EURUSD rose 0.02% to 1.1292, compared to the opening at 1.1290, after reaching a high of 1.1320 and a low of 1.1286.

The markets are currently waiting for the euro zone's largest economy to show a seasonally adjusted quarterly GDP reading for the third quarter, which could reflect a contraction of 0.3% versus a 0.5% growth in the second quarter, while the seasonally adjusted annual reading of the same index may show slower growth To 1.2% compared to 2.3% in the previous annual reading for the second quarter.

On the other hand, investors are looking for the US economy to detect inflation data with the release of the consumer price index, which may reflect the acceleration of growth to 0.3% compared to 0.1% in September, and may show the same annual reading of the same growth accelerated to 2.5% 2.3% in the previous annual reading for the month of September.

Markets are also looking for a substantial Core CPI reading, which could reflect a 0.2% growth in growth versus 0.1% in September, while the annual reading of the same index may show a 2.2% growth stability, before we witness the testimony of a Federal Committee member and Reserve Governor Federal Randall Quarles on banking supervision and regulation before the Financial Services Committee of the House of Representatives in Washington.

Technical analysis:

The EUR / USD pair continued its rally yesterday to test the 1.1300 level and settle around it now. As the daily close below this level, the bearish scenario will remain intact, awaiting a rebound to target 1.1180 as the next major station.

Keep in mind that a break of 1.1300 will stop the negative scenario and lead the price to initially test the 1.1443 level.

The stochastic indicator reached the overbought area and started giving bearish signals. Currently, the pair is trading above the SMA7-SMA20 moving averages, giving momentum to the upside but at the same time moving SMA 50 on the downside. This strengthens the resistance strength of 1.1300.

The trading range for today is expected among the key support at 1.1180 and resistance at 1.1370.

Support and resistance:

Support: 1.1230-1.1180-1.1100;

Resistance: 1.1300-1.1350-1.1400.

The general trend for today is bearish.

Gold futures traded in a narrowly bullish range during the Asian session to see their rebound to its second lowest session since October 11 as the US dollar index rebounded to its third high since January 22, 2017 According to the inverse relationship between them following the developments and economic data that followed the Chinese economy, the largest consumer of metals globally and on the brink of developments and economic data expected Wednesday by the US economy, the largest economy in the world.

Gold futures for December delivery rose 0.28% to currently trade at $ 1,204.80 per ounce, showing a five-week decline from the opening at $ 1,201.40 an ounce, amid a drop in the dollar index American currency rose 0.26% to 97.05, showing a continuation of its rebound since the beginning of last year compared to the opening at 97.30.

We followed the National Bureau of Statistics (NBS) to China reading the Unemployment Rate, which showed a stability of 4.9%, unchanged from September, and revealed the annual reading of the retail sales index, which showed a growth slowdown of 8.6% compared to the previous reading and expectations at 9.2 , And the annual reading of industrial production, which showed accelerated growth to 5.9% compared to 6.1%, compared to the previous reading and expectations at 5.8%.

This came in the wake of Japan's preliminary third-quarter GDP reading, which showed a contraction of 0.3% in line with expectations versus 0.7% growth in the second quarter. The same year's preliminary reading showed a 1.2% contraction versus 3.0% The annual reading of the index showed a contraction of 0.3% against stability at zero levels, worse than expected 0.1% contraction.

On the other hand, investors are eyeing the US economy to release inflation data with the release of the consumer price index, which may reflect a rapid growth rate of 0.3% versus 0.1% in September. The same index may also show growth accelerating to 2.5% 2.3% in the previous annual reading for the month of September.

Markets are also looking for a substantial Core CPI reading, which could reflect a 0.2% growth in growth versus 0.1% in September, while the annual reading of the same index may show a 2.2% growth stability, before we witness the testimony of a Federal Committee member and Reserve Governor Federal Randall Quarles on banking supervision and regulation before the Financial Services Committee of the House of Representatives in Washington.

Technical analysis:

The price of gold continues to fluctuate around the support of the corrective corrective channel, noting that Stochastic is losing its positive momentum significantly to reach oversold areas, awaiting a rebound on the downside move to resume the bearishness suggested in our recent reports, which is affected by the previously completed double top pattern.

At the same time, the moving averages are pushing the price down.

Our next target is at 1180.00, while achieving stability below 1208.40 and 1212.00.

Support and resistance:

Support: 1200.0-1195.80-1187.80;

Resistance: 1204.50-1208.6-1212.0.

The trading range for today is among the support at 1180.00 and resistance at 1212.00.

The general trend for today is bearish.

The British pound rose by more than 1 percent during the US session as it rebounded to its second straight session since the beginning of November against the US dollar following economic developments and data that followed on Tuesday the British economy and the lack of economic data by the US economy The world's largest economy with the beginning of this week.

At 5:39 pm GMT, the GBPUSD pair rose 1.24% to 1.3008 compared to the opening levels at 1.2849 after the pair reached a high of 1.3047 and a low of 1.2842.

We have followed the RBA to disclose labor market data which showed the September unemployment rate increased to 4.1% compared to the previous reading and expectations, while the average income index showed accelerated growth to 3.0% in line with expectations versus 2.8% The reading of the applications came at 20.2 thousand applications compared to 23.2 thousand applications, other than expectations at 4.3 thousand applications.

Prime Minister Teresa Mae said Prime Minister Teresa Mae said ministers would be summoned if the text of his country's exit agreement was approved by the European Union, adding that there was no specific date for the cabinet meeting. The United Kingdom of the Union in an orderly manner in Brussels has progressed well and there are few outstanding issues left to complete the agreement.

Technical analysis:

The GBPUSD rallied to break through the 1.2962 level and sits above it, currently hovering around 50 Fibonacci levels, opening the way for further gains in the coming sessions, especially as the price moves above SMA 50, and we are waiting for the ideal arrangement of the averages SMA7-SMA20 and SMA50 heading towards 1.3226 as a positive next station.

The Stochastic indicator gives positive signs of a rally.

Therefore, the bullish trend will be expected for today unless the level of 1.2962 is broken and stability below it again.

The trading range for today is expected among 1.2900 support and 1.3100 support

Support and resistance:

Support: 1.9960-1.2930-1.2860;

Resistance: 1.3000-1.3070-1.3100.

The general trend for today is bullish.