Weekly Outlook 13/12/2021

Weekly Brief includes the movements of the major pairs with gold and oil, the areas that traders should monitor during the week with the most important influencing data for this week

The dollar index is trading between the range of 96.970 as a resistance line and 95.510 as a support line, maintaining the 95.510 level that supports the bullish trend and the target 97.810, and breaching the price of 96.970 and closing above it restores the bullish momentum again
Breaking the price of 95.510 and closing below it will give a negative signal on the dollar index, and the targets will be at the prices of 94.780 and 94.385

Gold started losing the bearish momentum and the decline became a bit volatile, which indicates the first indication of the possibility of a reversal upwards, and gold formed a bullish reversal as the second positive sign, and finally became close to the area of ​​1760.278, which represents a buying area and an important support line
The range in which gold is trading is between the support line at 1760.278 and the resistance line at 1812.500

Oil rose last week to touch levels of 73, which indicates that the decline and the breach of the bullish trend on the daily basis was a false breach, which is a result of the repercussions of the new mutant of the Corona Omicron virus, and we can witness more ascent for oil to touch the levels of 78 and 79 dollars

The euro against the dollar rose by about 0.13% to close at the price of 1.13161, with the release of negative US inflation data
The range in which the euro is trading is between the resistance line located at 1.13785, and if it breaks it upwards, it will be a positive sign for this pair to rise in the long term, and the support line located at 1.12592, if it breaks it, the euro will decline to the previous low at 1.11866

The British pound against the US dollar broke the resistance line up last week and the closing of the four-hour candle is a positive sign for this pair
Maintaining the 1.31596 level and trading above it supports the positive scenario, and the first resistance line is located at 1.33712, and in case it breaches the second area of ​​this pair 1.35144
Breaking 1.31596 price and closing below it will cancel the positive scenario

The Australian dollar against the US dollar bounced from the resistance line at 0.71711
The frame is positive due to the failure of the bearish trend, but the confirmation signal to the upside will still not be achieved, which is the breach of 0.71711 and closing above it.
Maintaining the 0.69911 level, which represents a support line, is very important for the positive framework

The New Zealand dollar against the US dollar rose last week about 0.67%, and this rise is only corrective to touch the descending trend line after it breached the support area located between 0.68016 and 0.67668, which indicates further decline for this pair. The next target is at the previous bottom located at Price 0.65919

The US dollar against the Swiss franc is trading in the medium term between the price of 0.92757 as a resistance line and the price of 0.91555 as a support line, and in the long term, this pair is trading between the price of 0.93693 as a resistance line and the price of 0.90850 as a support line

The US dollar against the Japanese yen in the medium term is trading between 113.965 as a resistance line and 112.543 as a support line, and in the long term the resistance line is located at 115,535
In the event that the price of 112.543 is breached and the closing below it, it will be a confirmation signal for the bearish trend, and the target will be the level of 111,644

The most important economic data for this week


British Pound: Bank of England Financial Stability Report
Bank of England Financial Policy Committee meeting minutes and speech by Andrew Bailey, Governor of Bank of Angatra


US Dollar: Producer Price Index
New Zealand Dollar: Reserve Bank of New Zealand Governor Adrian Orr's speech


British Pound: Consumer Price Index
US dollar: retail sales
Core Retail
US crude oil stocks
FOMC Economic Outlook
Federal Open Market Committee report
US Federal Reserve interest rate decision
Federal Reserve press conference
Canadian Dollar: Core CPI
Speech by Tev McCallum, Governor of the Bank of Canada


New Zealand dollar: Gross Domestic Product
Australian dollar: Jonathan Kearns' speech from the Reserve Bank of Australia
Reserve Bank of Australia Governor Philip Lowe's speech
The rate of change in employment
Unemployment rate
Swiss franc: Swiss central bank rate decision
An assessment of the monetary policy of the Swiss National Bank
Swiss National Bank press conference
EURO: German Services PMI
German Manufacturing PMI
European Central Bank monetary policy report
British Pound: Composite PMI
 Manufacturing PMI
 Services PMI
Bank of England interest rate decision
Monetary Policy Committee meeting minutes
US Dollar: Philadelphia Manufacturing Index
Unemployment Complaint Rates


British Pound: retail sales
EURO: Consumer Price Index