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GBPUSD Technical Analysis

The GBPUSD pair resumes its positive trading to surpass 1.1900 barrier, reinforcing the expectations of continuing the bullish trend for today, organized inside the main bullish trend, depending on the price stability above 1.1780, noting that our main waited targets begin at 1.2000 and extend to 1.2135.

The expected trading range for today is between 1.1780 support and 1.1975 resistance, the expected trend for today is Bullish.​

 

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GBPJPY Holds Below the Barrier

GBPJPY pair attempted to form some positive waves to test the sideways range’s resistance at 166.8 and settles below it, as the stability below this barrier will allow us to suggest the negative attempts for now, to target 165.25 as a first station, followed by waiting to reach the initial support near 164.5. Note that succeeding to breach the current barrier and getting positive close above it will confirm regaining the bullish bias, to expect forming strong positive rally and target 167.9 initially, followed by reaching 169.

The expected trading range for today is between 166.80 and 165.25, and the expected trend for today is Bearish.​

 

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EURJPY Tends Towards the Negativity

The EURJPY pair kept its negative stability below 145.60, to reinforce the chances of starting the previously suggested bearish correction, expecting to gather the negative momentum soon and decline towards 143.30 level as a first negative target, while breaking it might extend trades towards 142.5 followed by reaching the bullish channel’s support line at 141.4.

The expected trading range for today is between 145.60 and 144.2, and the expected trend for today is Bearish.​

 

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EURUSD turns to decline

The EURUSD pair couldn’t manage to reach 1.04 barrier, to face negative pressure and start testing 1.0285 level now, and by taking a deeper look at the chart, we find that the price completed forming double top pattern that we expect to push the price to turn to decline, as breaking this level represents the key to confirm rallying towards 1.0175 followed by 1.0135 levels as main negative targets.

Therefore, the bearish bias will be suggested for today unless breaching 1.0370 and holding above it. The expected trading range for today is between 1.02 support and 1.0360 resistance, and the expected trend for today is Bearish.​

 

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EURUSD Confirms the Break

The EURUSD pair ended yesterday below 1.0285 level, to get more confirmation to the continuation of the expected bearish trend for the upcoming period, supported by moving below the EMA50 that presses negatively on the price, waiting for more decline to achieve our negative targets that start at 1.0175 followed by 1.0135.

Stochastic begins to lose the positive momentum gradually to support the expectations to decline, noting that breaching 1.0285 followed by 1.0305 levels will stop the negative scenario and lead the price to recover again.

The expected trading range for today is between 1.0175 support and 1.0320 resistance, and the expected trend for today is Bearish.​

 

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GBPJPY Technical Analysis

The GBPJPY pair provided new bullish rally yesterday, to touch 168.3 level and confirm its surrender to the domination of the bullish bias by moving away from the additional support at 166.8, reminding you that the fluctuation within the bullish channel and the major indicators that provide the positive momentum allow us to suggest more bullish attempts, to surpass 169 obstacle and move towards the next main station at 170.2.

The expected trading range for today is between 167.40 and 169, and the expected trend for today is Bullish.​

 

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EURUSD - Strong business activity statistics supported the position of the euro

Yesterday, data on business activity in the leading sectors of the EU economy were presented, which was positive for the first time since the end of summer. Thus, Manufacturing PMI in France rose to 49.1 points from 47.2 points earlier, and in Germany – to 46.7 points from 45.1 points, while Manufacturing PMI in the EU amounted to 47.3 points, higher than 46.4 points earlier. As for Services PMI, the upward dynamics here were slightly restrained: in France, the indicator consolidated around 49.4 points, which was lower than 51.7 points earlier, and in Germany, it was 46.4 points against 46.5 points in the month previously. The Composite index for EU countries remained at 48.6 points.

On the daily chart, the trading instrument is correcting, confidently approaching the local highs of the last week around 1.0485. Technical indicators have long since reversed upwards and are strengthening their signal.

Support levels: 1.0328, 1.0095 | Resistance levels: 1.0485, 1.0780​

 

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Gold Technical Analysis

Gold price tests the key support 1746.4 and keeps its stability above it until now, which keeps the bullish trend scenario valid for the upcoming period, supported by the EMA50, waiting to resume the bullish bias to visit 1765 initially. On the other hand, we should note that breaking 1746.4 and holding below it will stop the positive scenario and push the price back to the correctional bearish track again, to head towards testing 1721.65 areas initially.

The expected trading range for today is between 1735 support and 1775 resistance, and the expected trend for today is Bullish.

 

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NZDUSD Breaks the Support

The NZDUSD pair faced negative pressure to break 0.6240 and settles below it, which pushes the price to achieve more expected decline in the upcoming sessions, targeting visiting 0.6100 areas mainly.

Therefore, the bearish bias will be suggested for today, noting that breaching 0.6240 and holding above it again will reactivate the positive scenario that its first target located at 0.6315.

The expected trading range for today is between 0.6150 support and 0.6260 resistance, and the expected trend for today is Bearish.​

 

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Crude Oil - EU countries again did not agree on the maximum price level for oil from Russia

Representatives of the EU countries could not agree on the limitation of prices for Russian oil. According to one of the diplomats, the reason was the position of the representatives of the Polish delegation, which again refused to agree, demanding a significant reduction in the price ceiling from the current offer of 65.0–70.0 dollars per barrel since now this limit does not hinder exports in any way and will not significantly pressure on the Russian budget. Also, according to yesterday's data, the cost of a barrel of Urals oil was 51.96 dollars. As for the deal itself, the market has less and less confidence that all participating countries will finally accept it in the EU before December 5, when the restrictions provided for by the eighth package of sanctions, including the embargo on the supply of "black gold" from the Russian Federation by sea, will come into force.

On the daily chart of the asset, the trading instrument is moving within the downward corridor, approaching the resistance line, and the technical indicators maintain a stable sell signal, which does not rule out a local correction.

Resistance levels: 88.20, 95 | Support levels: 82.80, 77.5​