Forex market analysis

The single currency of the European Union region fluctuated in a narrowly bullish range during the US session against the US dollar amid a lack of economic data from the Eurozone economies and following developments and economic data that followed Wednesday on the US economy, the largest economy in the world.

On Sunday, the Italian Senate voted to approve the Italian government's budget proposal for 2019, which was agreed upon with the European Union. Context The European Commission recently reported that Italy has avoided punitive measures against violations of EU budgetary laws.

On the other hand, we followed the US S & P composite house price index's annual reading of 20, which showed a slowdown in growth to 5.0% from 5.2% in September, beating expectations of 4.8%. Rachmond Industrial shrank to a value of 8 versus growth at a value of 14 last November, contrary to expectations that indicated a growth to 16.

US President Donald Trump said on Tuesday that the government's closure would continue until a deal was secured to build a wall along the border with Mexico. The $ 5 billion financing of the wall was negotiable, and he expressed confidence in Treasury Secretary Sevan Menutchen's remarks. As the Federal Reserve raises interest rates at a rapid pace and comes amid the entry of the closure of the government for the fifth day in a row.

Investors are currently waiting for the US economy to read the Jobless Claims reading for the week ending December 22, which could reflect a 6K increase to 220K in the previous week's reading. This month, down by 5 thousand applications to 1,673 thousand in the previous weekly reading.

In conjunction with the release of housing market data, which may reflect the acceleration of house price growth to 0.3% versus 0.2% in October before we see new home sales, which may rise 4.0% to 566 thousand homes compared to a decline of 8.9% To 544,000 in October, leading to a reading of the consumer confidence index, which may indicate a contraction of the widening to 133.0 versus 135.7 last month.

Technical Analysis

The EUR / USD pair is still fluctuating around the moving averages and maintains its stability below the pivotal resistance 1.1443. Therefore, our bearish outlook remains unchanged as it is supported by Stochastic negativity, noting that our awaited targets start at 1.1300 and extend To 1.1181 after breaking the previous level.

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

Support and resistance:

Support: 1.1341-1.1300-1.1200

Resistance: 1.1386-1.1443-1.1500

The general trend for today is bearish

Csco shares continue to fall under the influence of the double-top reversal pattern and the breach of the previous bottom at 41.17

The stock is affected by the negative results of the US indices, especially the technology sector indices

The moving averages are pressuring the pair to move lower as the price is moving back at the moving average 7. The average 20 moves with the 50 average at the same level and is a strong resistance to the price.

Stochastic in the oversold area and waiting for an exit from it and if this is possible we can see a larger rebound in price

The Australian dollar fluctuated in a tight range slipping during the Asian session to see its rebound for the ninth session in seventeen sessions of its highest since August 9 against the US dollar amid a lack of economic data by the Australian economy and on the eve of developments and economic data expected on Thursday from Ahead of the US economy, the world's largest economy.

At 4:18 am GMT, the AUDUSD fell 0.16% to 0.7055, the pair's lowest level during the session compared to the opening levels at 0.7066, while the pair reached a high of 0.7078.

Investors are currently waiting for the US economy to read the Jobless Claims reading for the week ending December 22, which could reflect a 6K increase to 220K in the previous week's reading. This month, down by 5 thousand applications to 1,673 thousand in the previous weekly reading.

In conjunction with the release of housing market data, which may reflect the acceleration of house price growth to 0.3% versus 0.2% in October before we see new home sales, which may rise 4.0% to 566 thousand homes compared to a decline of 8.9% To 544,000 in October, leading to a reading of the consumer confidence index, which may indicate a contraction of the widening to 133.0 versus 135.7 last month.

Technical Analysis

The AUDUSD is trading slightly above the 0.7060 level now, noting that Stochastic is showing negative signs now, waiting for the pair to resume the bearish trend whose targets start with a break of 0.7020 to confirm the opening of 0.6920 as a next stop.

Therefore, we will continue to lower the bearishness until 0.7120 is breached and stability above it.

The trading range for today is expected among the support at 0.6980 and the resistance at 0.7100

The general trend for today is bearish

AUDUSD

The pair is in downtrend, above 0.7035, as commodity and raw material prices are falling, while the major American stock index futures are also falling. Yesterday’s demand for risk assets seems to be a dead cat bounce: a brief recovery before resuming the decline.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and has reversed downwards. Stoch are falling.

Trading recommendations:

If the pair goes below 0.7035, it may go further down to 0.6950.

USDCAD

The pair is in uptrend above 1.3565 as the crude oil prices are falling again and the Fed is expected to resume its high interest rates policy.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is on the level of the overbought territory. Stoch have left the zone.

Trading recommendations:

If the pair remains above 1.3565, it may continue going up to 1.3700 against the backdrop of decreasing oil prices.

Gold futures rallied during the Asian session, their highest since June 20, defying the positive stability of the dollar index according to the inverse relationship between them on the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world.

Gold futures for February delivery rose 0.31% to currently trade at $ 1,275.70 an ounce, the highest in six months compared to the opening at $ 1,271.80 per ounce, while the dollar index rose 0.01% to Levels of 96.59 compared to the opening at 96.58.

The markets are currently looking for the US economy to release housing data with the S & P House Price Index reading, which may show a slowdown in growth to 4.8% versus 5.1% last September, before we see the Richmond Industrial Average reading which may reflect Extending from 16 to 14 last November.

Elsewhere, gold prices continue to benefit from the shift from high-risk stocks to precious metals, led by the yellow metal, which is a safe haven following US stocks closing for the fourth session in a row, To reflect last week's worst weekly performance since August 2011 on Wall Street.

Technical Analysis

The price of gold starts today with a positive positive to attack the resistance of the corrective correction channel and is trying to hold it above it, which makes it preferable to stop the neutral temporarily to monitor the behavior of the price for the level of 1270.00 as stability with daily closing above it will confirm the continuation of the upward trend towards 1286.70 as a positive next station, Without it again will re-activate the scenario of the downward trend targeting 1238.30 areas mainly.

The moving averages support the price for further upside and the Stochastic is approaching the buy saturation area in reference to the strength of the price

The trading range for today is among the support at 1260.00 and resistance at 1285.00

Support and resistance:

Support: 1262.80-1257.00-1251.3

Resistance: 1275.00-1286.00

The expected general trend for today: neutral

The pair rose against the dollar in today's Asian trading session narrowly affected by the European holiday and no news of the day

Where the GBPUSD opened the Asian session at 1.2663, recording a high of 1.2716

The markets are currently looking for the US economy to release housing data with the S & P House Price Index reading, which may show a slowdown in growth to 4.8% versus 5.1% last September, before we see the Richmond Industrial Average reading which may reflect Extending from 16 to 14 last November.

Technical Analysis

GBP / USD has not seen any strong movement in the past sessions, keeping the 1.2636 and 1.2725 support keys intact, so we continue to neutral so far, noting that breaking this support will press the price to initially visit 1.2500, while A breach of resistance will lead the price to achieve positive targets starting at 1.2820 then 1.2962.

The trading range for today is expected among 1.2600 support and 1.2800 resistance

The expected general trend for today: depends on the levels mentioned in the report

The EUR / USD pair rose in the Asian trading session narrowly affected by the European holiday and no news of the day

As the EURUSD opened the Asian session at 1.1382, recording a high of 1.1416

The markets are currently looking for the US economy to release housing data with the S & P House Price Index reading, which may show a slowdown in growth to 4.8% versus 5.1% last September, before we see the Richmond Industrial Average reading which may reflect Extending from 16 to 14 last November.

Technical Analysis

The EUR / USD pair is trading in a narrow range affected by the holiday of financial markets. Therefore, the bearish scenario will remain intact, which depends on stability below 1.1443, while its main targets are 1.1300 and 1.1181.

Stochastic is in a bearish direction towards the oversold area in a sign of bearish movement. While we expect the upper movement of the price for the moving averages that are currently moving under the price but does not provide any clear signals in light of the low liquidity from the market as a result of the holiday

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

Support and resistance:

Support: 1.1341-1.1300-1.1210

Resistance: 1.1386-1.1443-1.1500

The general trend for today is bearish

The Australian dollar fluctuated in a tight range sloping upward during the Asian session to see its rebound to its second lowest session since October 26 when it tested its lowest since February 11, 2016 against the US dollar amid tight economic data by the economy And on the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world.

At 3:14 am GMT, the AUDUSD rose 0.06% to 0.7040 compared with the opening levels of 0.7036, after recording a high of 0.7055 and a low of 0.7033.

The markets are currently looking for the US economy to release housing data with the S & P House Price Index reading, which may show a slowdown in growth to 4.8% versus 5.1% last September, before we see the Richmond Industrial Average reading which may reflect Extending from 16 to 14 last November.

Technical Analysis

The AUDUSD is trading near the 0.7020 level. The price is under negative pressure with the previously completed head and shoulders pattern, which supports the breach of the mentioned level towards 0.6920 which represents our next negative target. The bearish trend will prevail over the next period provided stability below 0.7130.

We push the moving averages on the price and wait for the SMA 20 to complete the SMA 50 to get an ideal bearish order.

At the same time moving the Stochastic within the oversold area in a negative signal to the price movement

The trading range for today is expected among the support at 0.6970 and the resistance at 0.7100

The general trend for today is bearish

Aeroflot continues to be sideways supported by the 7-50 moving averages forming a support level for the price.

The stock is trading around 101.20 support in the sideways direction

Note that SMA 20 is approaching the rest of the averages and waiting for the intersection to take a clear path

While the Stochastic is approaching the oversold area and this may be reflected in the price if the closing of the trading week below the level of support 101.20

Support and resistance:

Stays: 101.20-96.20-90.40

Resistance: 104.6-108.15-115.4