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NZDUSD -Quotes remain within the downward channel

Thus, according to the report of Statistics New Zealand (Stats.nz), employment in the main sectors of the economy in October adjusted to 2.32M jobs, but the decrease in the indicator in the primary sectors was 1.7%, in the commodity-producing sector, growth reached 0.6%, while the service sector showed no change. Regarding age groups, the largest increase in the value was observed in the category of 15–19 years old, which added 18.5%, and the maximum outflow of workers was in the category of 25–29 years old, which amounted to –3.3%. Considering that the first category includes mainly part-time jobs, the increase in this category had little effect on economic activity. The situation in the asset may change tomorrow when the data on building permits is published, the positive dynamics of which reached 3.8% last month.

The trading instrument moves within the downward channel on the daily chart, steadily near the resistance line. Technical indicators maintain a stable buy signal, working out a slight correction.

Resistance levels: 0.6265, 0.6467 | Support levels: 0.61, 0.5878​

 

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EURUSD needs strong positive motive

The EURUSD pair shows some slight bearish bias to test the EMA50, while stochastic continues to move within the oversold areas, waiting to motivate the price to resume the expected bullish trend for the upcoming period, which targets testing 1.0515 as a next main station. On the other hand, we should note that breaking 1.0285 and holding below it will stop the expected rise and press on the price to turn to decline and achieve negative targets that start at 1.02 and extend to 1.0.

The expected trading range for today is between 1.0285 support and 1.0450 resistance, and the expected trend for today is Bullish.​

 

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GBPUSD awaits the breach

The GBPUSD pair trades within minor bearish channel that appears on the chart, and we believe it forms bullish flag pattern, as the price needs to breach 1.1995 to activate the positive effect of this pattern followed by rallying to resume the main bullish trend, which targets 1.2080 followed by 1.2200 levels as next main stations. Therefore, we will continue to suggest the bullish trend for the upcoming period unless breaking 1.1950 and holding below it.

The expected trading range for today is between 1.1920 support and 1.2090 resistance, and the expected trend for today is Bullish.​

 

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Gold price surpasses the first target

Gold price succeeded to surpass our first positive target at 1765 to confirm the continuation of the bullish wave on the intraday and short term basis, and the way is open to achieve our next target at 1786.5, and we suggest the continuation of the bullish bias to breach this level and achieve additional gains that reach 1812 areas.

Therefore, the bullish trend will remain valid for the upcoming period, supported by the EMA50 that carries the price from below, noting that the continuation of the bullish wave requires holding above 1765 and the most important above 1746.4.

The expected trading range for today is between 1760 support and 1795 resistance, and the expected trend for today is Bullish.​

 

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NZDUSD Surpasses the Target

The NZDUSD pair rallied upwards strongly to succeed breaching 0.6240 and achieve our waited positive target at 0.6300, waiting for more expected rise in the upcoming period, and the way is open to head towards 0.6400 barrier as a next positive station. Therefore, the bullish wave will remain dominant in the upcoming sessions unless breaking 0.6240 and holding below it.

The expected trading range for today is between 0.6280 support and 0.6400 resistance, and the expected trend for today is Bullish.​

 

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AUDUSD - Key parameters of the Australian economy are declining

Thus, the index of manufacturing activity from AIG in November fell to 44.7 points from 49.6 points earlier, and the Manufacturing PMI amounted to 51.3 points, which is lower than 52.7 points earlier. The volume of investments also continues to decline: investments in production equipment in the third quarter lost 1.6%, and capital investments of individuals decreased by 0.6%. Even more critical is the 0.2% decline in retail sales in November after a positive 0.6% trend in October, which reflects a drop in buying activity due to rising prices.

On the daily chart of the asset, the trading instrument is moving within a downward channel and is preparing to break the range resistance line, and the technical indicators keep a buy signal.

Resistance levels: 0.6855, 0.705 | Support levels: 0.671, 0.653​

 

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EURCHF attempts to resume the rise

The EURCHF pair succeeded to provide new positive close above the moving average 55 at 0.9845, to confirm its surrender to the domination of the suggested bullish bias and approach the first target at 0.99. Note that stochastic continuous positive momentum will provide additional chance to record additional gains that might extend towards 0.9935 followed by 1.0 in the medium term period.

The expected trading range for today is between 0.9865 and 0.9935, and the expected trend for today is Bullish.​

 

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EURJPY fluctuates within the bearish track

The EURJPY pair touched 140.75 level on last Friday, to rebound positively towards 42.20 and settles near the moving average 55, these factors won’t affect the bearish track by settling below 142.60 resistance line, to confirm confining trades within the negative track and wait to renew the negative attack to target the first main target at 140.25. On the other hand, breaching the mentioned resistance will confirm regaining the bullish bias by consolidating within the bullish channel again, allowing us to start suggesting the bullish trades and target 143.15 initially.

The expected trading range for today is between 142.60 and 141.1, and the expected trend for today is Bearish.​

 

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USDCAD Achieves Strong Gains

USDCAD pair traded with strong positivity yesterday to breach 1.3500 and settles near 1.3600 barrier, to head towards achieving more expected gains in the upcoming sessions, on its ways to visit 1.3680 as a next main target. The EMA50 supports the expected rise, which will remain valid as long as 1.3500 level remains intact.

The expected trading range for today is between 1.3500 support and 1.3670 resistance, and the expected trend for today is Bullish.​

 

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NZDUSD - the American currency received a growth impetus

Thus, the report of Statistics New Zealand (Stats.nz) recorded a smooth recovery of the national real estate market: Q3 construction activity in the residential sector increased by 3.1%, and non-residential – by 4.9%, as a result of which the overall indicator increased by 3.8%. Despite the positive dynamics, inflation continues to negatively affect the cost of building maintenance: Q3 cost of maintaining residential buildings increased by 3.0%, and non-residential – by 1.5%.

On the daily chart, the trading instrument moves above the resistance line of the downward channel, approaching it from above for reverse testing, and the technical indicators maintain a stable buy signal, ignoring a possible local correction.

Resistance levels: 0.64, 0.656 | Support levels: 0.6265, 0.61​