Analytic reviews

EURUSD

The pair is trading below 1.1340 amid the stronger USD positions and the pending GDP data in Germany and eurozone for the third quarter. It’s expected to indicate decline against the backdrop of the eurozone’s stagnation, which would affect the single currency rate negatively.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is entering the oversold zone. Stoch are reversing downwards.

Trading recommendations:

If the pair passes 1.1300, it will plunge further to 1.1250.

The single currency of the European Union region fluctuated in a tight range to retreat during the Asian session to see its rebound to its third-highest session since October 22 against the US dollar on the eve of economic developments and data expected on Friday by Eurozone economies and the US economy. The world economy and the forthcoming talk of Fed Governor and Federal Open Market Committee member Randall Cowards about financial regulation at the Brookings Institution in Washington.

At 05:06 GMT, the EURUSD fell 0.15% to 1.1346, compared to the opening at 1.1363 after hitting its lowest since early November at 1.1341, while the highest of the session at 1.1369 .

The markets are currently waiting for the release of the Industrial Production Index, which may reflect a 0.3% drop from 0.3% in August. Meanwhile, Italian bond yields rose following the European Union's warning that a budget deficit The government of Italy, the region's third-largest economy, will move dangerously near the Union's borders by three percent.

On the other hand, investors are looking for the US economy to release the Producer Price Index (PPI), a preliminary index of inflationary pressures that could reflect a 0.2% growth in stability, unchanged from September, while the annual reading of the same index may show slower growth To 2.5% from 2.6% in the previous annual reading for September.

In the same context, the core reading of the PPI may show a 0.2% growth rate unchanged from September, while the Core Annual Report itself may show a slowdown in growth to 2.3% versus 2.5% before we see The final reading of the Wholesale Inventories Index, which may reflect a stability of 0.3%, is largely unchanged from the previous reading for September and 1.0% in August.

To the initial reading of the University of Michigan Consumer Sentiment Index, which could reflect a narrowing to 98.0 versus 98.6 last October, after the FOMC meeting ended in which monetary policy makers agreed to stay short of benchmark interest rates Term trading at between 2.00% and 2.25%, which was expected by market analysts.

Technical Analysis:

The EUR / USD pair continues to show negative trading after confirming the completion of the previously mentioned bearish flag formation, reinforcing the chances for the continuation of the bearishness over intraday and short term basis, with its first target at 1.1300, noting that breaking this level will extend the bearish wave to reach To 1.1181.

This is supported by the indicators as the Stochastic is in the overbought level and the MACD is beginning to give bearish signals. All trades are below the average line of the Bollinger Index and near the bottom line while at the same time the moving averages sma7-sma20and sma50 are pushing on   the price and further downward.

Therefore, we will maintain our bearish bias unless the 1.1443 level is breached and stability above it.

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

Support and resistance:

Support: 1.1300-1.1250-1.1180

Resistance: 1.1394-1.1450-1.1490

The general trend for today is bearish

Gold futures fell during the Asian session to see their lowest since early November amid the rebound of the dollar index for the second session of its lowest since October 22 according to the inverse relationship between them following developments and economic data that followed the Chinese economy, the largest importer of metals On the eve of economic data expected Friday by the US economy, the largest economy in the world and the expected talk of federal committee member Randall Quarles about the financial organization in Washington.

Gold futures for December delivery fell 0.48% to currently trade at $ 1,219.20 per ounce, the lowest level in more than a week compared to the opening at $ 1,225.10 per ounce, amid the rise of the US dollar index of 0.05 % To 96.77, the highest level since the beginning of this month compared to the opening at 96.72.

We have followed the Chinese economy, the world's second-largest economy, to reveal the annual reading of the consumer price index, which showed a stable growth rate of 2.5%, unchanged from the previous September reading, in line with expectations, while the annual reading of PPI The slowdown in growth to 3.3% is also consistent with expectations compared to 3.6% in the previous annual reading for the month of September.

On the other hand, investors are looking for the US economy to release the Producer Price Index (PPI), a preliminary index of inflationary pressures that could reflect a 0.2% growth in stability, unchanged from September, while the annual reading of the same index may show slower growth To 2.5% from 2.6% in the previous annual reading for September.

In the same context, the core reading of the PPI may show a 0.2% growth rate unchanged from September, while the Core Annual Report itself may show a slowdown in growth to 2.3% versus 2.5% before we see The final reading of the Wholesale Inventories Index, which may reflect a stability of 0.3%, is largely unchanged from the previous reading for September and 1.0% in August.

Leading to the release of the University of Michigan's consumer confidence index, which may reflect a narrowing to 98.0 versus 98.6 in October, hours after the FOMC meeting ended, during which monetary policy makers agreed to stay on benchmark interest rates Short term at between 2.00% and 2.25%, which was expected by market analysts.

Technical Analysis:

The price of gold is showing further bearishness and is gradually approaching our main target at 1208.40. The bearish trend will continue to be effective in the coming sessions, noting that breaking the mentioned level will extend the downside wave to reach 1198.00 as a next stop.

Stochastic is providing a negative signal that supports the possibility of further decline which requires stability to remain below 1238.30

Waiting for the success arrange of the sma7-sma20and sma50

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

The general trend for today is bearish

The royal currency fluctuated during the American session yesterday to witness its rebound to the second session of its highest since October 17 against the US dollar amid a lack of economic data by the British Royal economy and following developments and economic data that followed Thursday the largest US economy A world economy and a view of the FOMC meeting in Washington.

GBPUSD dropped to 1.3010 from the opening levels of 1.3060 after the pair reached a low of 1.3010 and a high of 1.3069.

Technical Analysis:

The GBPUSD extended yesterday's negative trading session near the SMA 50, accompanied by stochastic access to oversold areas and the price reached the Bollinger's bottom line, awaiting a rebound to resume the upside move.

All in all, we will keep our bullish outlook intact unless the 1.2960 level is breached and stability above it, noting that we are waiting for a visit to 1.3226, which is our primary target.

The trading range for today is expected among 1.2980 support and 1.3150 support

Support and resistance:

Support: 1.2970-1.2930-1.2870

Resistance: 1.3070-1.3125-1.3170

The general trend for today is bullish

EURUSD

The pair is in downtrend due to stronger position of the USD rate following the Fed meeting which indicated the regulator’s firm intent to continue raising interest rates. The pair may still recover thanks to partial profit taking, but it’s more likely to continue falling, considering that the Fed is expected to raise interest rates in December.

The price is on the lower Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving down. Stoch are in the oversold zone.

Trading recommendations:

The pair may rebound to 1.1375 due to partial profit taking. Sell the pair from this level and after it falls below 1.1345 with a possible target of 1.1300.

Crude oil futures fluctuated in a narrow range during the Asian session, showing mixed performance, offsetting the rise in the US dollar index, adding to its second-lowest session since October 22 according to the inverse relationship between them following developments and economic data followed Thursday. On the Chinese economy, the world's largest energy importer and on the eve of economic data expected Thursday by the US economy, the largest consumer of energy in the world in conjunction with the proceedings of the meeting of the Federal Committee in Washington.

Crude oil futures for December delivery rose 0.06% to currently trade at $ 61.71 per barrel, compared to the opening at $ 61.67 a barrel. Brent crude futures declined on December 15, (December) 0.03% to trade at $ 72.05 per barrel compared to the opening at $ 72.07 per barrel, while the US dollar index rose 0.25% to 96.24 levels, showing a rebound from a two-week low compared to the opening at 96.00.

We followed the Chinese economy, the second largest economy in the world and second largest industrialized nation after the United States disclosed the reading of the trade balance index, which showed a surplus of 234 billion yuan, or $ 34.0 billion, compared to 213 billion yuan, or $ 31.7 billion. Last September, contrary to expectations that the surplus shrank to 209 billion yuan, or $ 31.3 billion.

On the other hand, investors are looking for the US economy to reveal the reading of the index of claims for the week ending on the third of this month, which may reflect stability in 214 thousand requests, unchanged from the previous weekly reading, while the reading of the index of continuing claims for the week in the past 27 From last month, up by 4 thousand applications to 1,635 thousand applications compared to 1,631 thousand applications in the previous weekly reading.

The US Energy Information Administration report on crude oil inventories showed yesterday that the surplus widened to 5.8 million barrels during the week ending on the second of this month compared to 3.2 million barrels in the previous weekly reading, in contrast to expectations that the surplus shrank to 2.0 million barrels, 431.8 million barrels, so stocks are up 3% higher than the average of the past five years for such a time of year.

In the same context, the management report showed that the United States, the world's largest energy consumer, had 1.9 million barrels of fuel stocks, accounting for 8 percent more than the average for the past five years, while distillate stocks, including heating oil, Fell 3.5 million barrels, so inventories are less than 6% of the average of the past five years for such a time of year.

Technical Analysis:

Oil is trading below 62.00 and continues to move within the descending channel shown above, while the moving averages 7-20-50 are a continuous negative pressure that supports the continuation of the downside movement over the coming period.

Therefore, we will hold onto our downside if the 62.90 level is not breached, and our awaited targets start at 60.00 and extend to 58.65.

The trading range for today is expected among the support at 60.00 and the resistance at 62.90

The general trend for today is bearish

Support and resistance:

Resistance: 62.15-62.65-63.30

Support: 60.50-60.00-58.80

Trading opportunities for the day: Sell at 62.00 and target 60.55 and stop loss above 62.60

The British pound rose during the US session to its highest since October 17 against the US dollar following developments and economic data that followed Wednesday on the British Royal Economy. Following the disclosure of the results of the midterm elections of the US Congress and on the eve of the start of the meetings of the Committee Federal Open Market today and Thursday in Washington.

GBPUSD rallied 0.36% to 1.3146 compared to opening levels at 1.3100 after the pair hit a three-week high of 1.3175 while the session's low was at 1.3074.

We followed the RBA reading of the Halifax Home Price Index, which showed a 0.7% gain from a 1.3% drop in September, beating expectations for a 0.5% rise, while the annual reading of the same index for the three months ending in October, October growth slowed to 1.5% from 2.5%, beating expectations of 1.3%.

Technical Analysis:

GBPUSD is showing some slight bearish bias after approaching the 1.3200 barrier yesterday, and we see that Stochastic is negatively negating near the overbought areas, awaiting a positive stimulus that supports chances of resuming the upside in the coming sessions.

In general, we continue to swing the upside with support from the moving averages 7-20-55 unless the 1.2962 level is broken and stability below it, noting that our awaited targets start at 1.3226 then 1.3300.

The trading range for today is expected among 1.3060 support and 1.3240 support

Support and resistance:

Resistance 1.3170-1.3240-1.3280

Support: 1.3210-1.3060-1.3000

Outlook for the day: buying the pair at 1.3120 and targets at 1.3170-1.3240 and stop loss below 1.3060

The price of gold futures fell during the Asian session amid the rise of the dollar index, showing its rebound to the second session of its lowest since October 22, according to the inverse relationship between them following the developments and economic data that followed Thursday the Chinese economy, the largest importer of metals globally and on the threshold of data Economic outlook on Thursday by the US economy, the world's largest economy, coinciding with the FOMC meeting in Washington.

Gold futures for December delivery fell 0.37% to currently trade at $ 1,224.10 per ounce compared to the opening at $ 1,228.70 an ounce, with the dollar index rising 0.26% to 96.24. From its lowest in two weeks compared to the opening at 96.00.

We followed the Chinese economy, the second largest economy in the world and second largest industrialized nation after the United States disclosed the reading of the trade balance index, which showed a surplus of 234 billion yuan, or $ 34.0 billion, compared to 213 billion yuan, or $ 31.7 billion. Last September, contrary to expectations that the surplus shrank to 209 billion yuan, or $ 31.3 billion.

On the other hand, investors are looking for the US economy to reveal the reading of the index of claims for the week ending on the third of this month, which may reflect stability in 214 thousand requests, unchanged from the previous weekly reading, while the reading of the index of continuing claims for the week in the past 27 From last month, up by 4 thousand applications to 1,635 thousand applications compared to 1,631 thousand applications in the previous weekly reading.

This coincides with the FOMC meeting on 7 and 8 November, in which monetary policy makers are expected to keep short-term benchmark interest rates at between 2.00% and 2.25% following the interest rate hike On federal funds by 25 basis points for the third time this year at the previous meeting of the Federal Commission.

Technical Analysis:

The price of gold is showing negative negative trading to settle below the SMA 7- SMA 20 and SMA 50, so that the downside scenario remains intact until the 1208.40 level is tested mainly, noting that breaking this level will extend the downside wave to 1198.00 directly.

Stability below 1238.30 is important for achieving the suggested targets, as breaching it will lead the price to test the next correction level at 1262.51 directly.

The trading range for today is among the support at 1208.00 and resistance at 1235.00

Support and resistance:

Resistance: 1227.6-1233.80-1237.80

Support: 1222.60-1214.50-1208.60

The general trend for today is bearish

Trading Disc: Sell below 1223.80 and targets 1222.6-1214.50 and stop loss above 1230.00

The single currency of the European Union region rose during the US session, its highest since October 22 against the US dollar following developments and economic data on Wednesday on the eurozone economies. Following the release of the results of the midterm elections of the US Congress and on the eve of the start of the meeting Federal Open Market Committee on Wednesday and Thursday in Washington

The EURUSD rose 0.32% to 1.1463, compared to the opening levels at 1.1427 after the pair reached a two-week high of 1.1500, while the session reached a low of 1.1395.

Investors are looking to kick off the FOMC meeting on November 7 and 8, where monetary policy makers are expected to keep short-term benchmark interest rates at between 2.00% and 2.25% following interest rate hikes On federal funds by 25 basis points for the third time this year at the previous meeting of the Federal Commission.

The EUR / USD pair rebounded after testing the 1.1500 barrier to fluctuate around the pivotal support 1.1443, which requires attention from the upcoming trades as the price needs to stabilize above this level to keep the bullish scenario intact for the coming period, while breaching it will return the price to the downside. His first negative target is at 1.1300

The Stochastic is giving negative trading signals, and this strengthens the Bollinger index as the trades are below the average line. At the same time, SMA 50 is pressuring the price to fall

Support Points:

Resistance: 1.1450-1.1525-1.1600

Support 1.1380-1.1300-1.1250

NZDUSD

The pair is in uptrend due to RBNZ’s decision to remove mentioning of possible raise of interest rates from their resolution, as well as the remaining expectations that the US and China will reach a trade deal at the G20 meeting in Buenos Aires that will take place in the end of the month.

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought territory and is moving horizontally. Stoch are moving down.

Trading recommendations:

The pair may continue growing to 0.6850 if it takes hold above 0.6765 and passes 0.6800.