Mohammed Abdulwadud Soubra / Profile

Today's important market news Time: GMT
11:00 G20 Meeting
13:00 Consumer Price Index (YoY)
13:00 Consumer Price Index (MoM)
13:00 Harmonised Index of Consumer Prices (YoY)
13:00 Harmonised Index of Consumer Prices (MoM)
13:30 Gross Domestic Product Annualized
13:30 Gross Domestic Product Price Index
13:30 Goods Trade Balance
13:30 Core Personal Consumption Expenditures (QoQ)
13:30 Personal Consumption Expenditures Prices (QoQ)
15:00 Personal Consumption Expenditures - Price Index (MoM)
15:00 Personal Spending
15:00 Core Personal Consumption Expenditure - Price Index (YoY)
15:00 Personal Income (MoM)
15:00 Core Personal Consumption Expenditure - Price Index (MoM)

Published post Positioning ahead of G20

Dollar Forecast

What was once a consistent and dominant advance for the US Dollar is now a consolidation and debate over fundamental value. The Greenback still stands at the most hawkish end of the monetary policy spectrum, but that premium may already be incorporated. Will risk trends or rate hikes revive the currency in Q4 or is a correction overdue?

Euro Forecast

A period of range for the Euro may soon come to an end as investors cast their focus on the European Central Bank's effort to buttress the region's economy and financial stability. With global headwinds increasing and the Fed backing off its hawkish stance, a countermove for more European stimulus may drive the currency to lows not seen in over a decade.

Yen Forecast

A wide gulf exists between the monetary policy programs in Japan and the United States, and that disparity may resolve USDJPY's congestion. As Japan struggles to reach its 2 percent inflation goal, the probability of an increase to the Bank of Japan's QQE program rises - and the incredible driver of three years of Yen cross appreciation may be revived.

Gold Forecast

Gold has made an unsteady attempt to retrace lost ground amid the Federal Reserve's confusion over its interest rate bearings. An aborted effort to hike rates in 2015 could give the metal a more significant foothold for bulls, but the central bank doesn't seem as discouraged as the market seems to presume they are.

Oil Forecast

Many outsiders to the oil market have been scratching their head as supply continues to outstrip demand. A quick view of production growth into falling prices seems to go against classic market dynamics. However, there's a very simple answer although it may not appear logical at first. Individual producers in the oil field are continuing to drill in order to meet individual debt repayments while subsequent loans are dependent on production.

Equities Forecast

The years of steady advance for global equities to multi-year – and in some cases, record – highs seemed to finally show signs of exhaustion this past year. Heading into 2016, shares may face more than just doubts about the level of lift ahead. Global growth, changes in monetary policy, emerging market troubles and China are prominent risks to sentiment moving forward.

Top Trading Opportunities in 2016

Fundamental and technical gears are changing heading into the New Year. The drive found in diverging monetary policy is waning in the aftermath of large market moves. Ahead, ties to general risk appetite and the contrast in variable speeds of growth look to generate heavy volatility and possibly large price swings. See where the DailyFX Analysts believe the top trades will be in 2016.

USD/JPY Intraday: the bias remains bullish.



Pivot: 112.50

Most Likely Scenario: long positions above 112.50 with targets @ 113.20 & 113.60 in extension.

Alternative scenario: below 112.50 look for further downside with 111.95 & 111.30 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

AUD/USD Intraday: the upside prevails.







Pivot: 0.7210





Most Likely Scenario: long @ 0.7220 with targets @ 0.7255 & 0.7275 in extension.





Alternative scenario: below 0.7210 look for further downside with 0.7190 & 0.7160 as targets.





Comment: the RSI lacks downward momentum.

Crude Oil (WTI) (J6) Intraday: bullish bias above 31.20.

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Pivot: 31.20

Most Likely Scenario: long positions above 31.20 with targets @ 33.55 & 34.20 in extension.

Alternative scenario: below 31.20 look for further downside with 30.50 & 29.80 as targets.

Comment: the RSI is mixed to bullish.

Gold spot Intraday: supported by a rising trend line.







Pivot: 1221.00





Most Likely Scenario: long positions above 1221.00 with targets @ 1254.00 & 1264.00 in extension.





Alternative scenario: below 1221.00 look for further downside with 1207.00 & 1200.00 as targets.





Comment: the RSI is mixed to bullish.

EUR/USD Intraday: the upside prevails.

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Pivot: 1.1015

Most Likely Scenario: long positions above 1.1015 with targets @ 1.1100 & 1.1140 in extension.

Alternative scenario: below 1.1015 look for further downside with 1.0990 & 1.0955 as targets.

Comment: the RSI is well directed.

GBP/USD Intraday: the upside prevails.





Pivot: 1.3950





Most Likely Scenario: long positions above 1.3950 with targets @ 1.4050 & 1.4120 in extension.





Alternative scenario: below 1.3950 look for further downside with 1.3900 & 1.3875 as targets.





Comment: the RSI is mixed to bullish.