Analytic reviews

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness the highest since July 15, when it tested the highest since the tenth of June, after the developments and economic data that we followed about the Australian economy today, Tuesday, and before the Reserve Bank of Australia governor’s speech Philip Lowe via satellite and amid the scarcity of economic data earlier this week by the US economy, the largest economy in the world.

At exactly 02:01 am GMT, the Australian dollar pair rose against the US dollar 0.11% to 0.7024 levels compared to the opening levels at 0.7016, after the pair achieved its highest level in a week at 0.7035, while the pair achieved its lowest during the trading session at 0.7010.

We followed the Australian Central Bank revealed the minutes of its last meeting, which was held on the seventh of this month, during which interest rates for the fourth meeting were fixed at the lowest ever at 0.25%, and monetary policymakers at the Reserve Bank of Australia touched through the minutes because the exchange rate reflects expectations And that there is no need to interfere in the foreign exchange market, while stating that the negative interest rate policy is very unlikely.

It is noteworthy that the Australian central interest rate statement touched this month because the situation has stabilized recently and the decline has become less than expected, and that the uncertainty about the health status and future strength of the economy makes many families and companies cautious and that this affects consumption and investment plans, and was confirmed by monetary policy makers at the time, However, the Australian central bank will not increase interest rates until progress is made towards full employment.

Technical analysis

The Australian dollar versus the US dollar pair is trading in a positive positivity to gradually approach our waited target at 0.7064, as it moves inside an ascending channel that supports the opportunities to overcome the mentioned level and open the way for achieving more gains during the coming period, heading towards 0.7200 areas as the next main station.

Thus, we will continue to favor the bullish trend over the intraday and short term, provided that the price maintains its stability above 0.6905.

The expected trading range for today is between 0.6960 support and 0.7100 resistance.

Expected trend for today: bullish.

The single currency fluctuated the euro in a narrow range slanting back down during the Asian session to witness its rebound from above since March 9th, when it tested in late January 2019 against the US dollar after European Union leaders reached an agreement about the virus recovery fund and the lack of data. Economic Tuesday by the economies of the euro area and the US economy the largest economy in the world.

At 05:04 am GMT, the euro against the US dollar fell 0.16% to 1.1430 levels, compared to the opening levels at 1.1448 after the pair achieved its lowest level during the trading session at 1.1423, while achieving the highest in four months at 1.1470.

We have followed, after four days of violent negotiations, European Union leaders reached an agreement on a historic stimulus package to be witnessed by the euro area with the 27 member states unanimously agreeing to issue 750 billion euros ($ 860 billion) in joint debt bonds to help member states within the union reduce the decline The economist, as the emergency fund will provide 390 billion euros in loans and low interest loans of 360 billion euros.

We would like to point out that the agreement of the EU leaders during the European Union economic summit in Brussels for the first time since the outbreak of the Coronavirus, which dealt with the discussion of the European Union’s long-term budget and ways to recover from the negative repercussions of the outbreak of the Coronavirus, represents a victory for German Chancellor Angela Merkel and French President Emmanuel Macron who coined An early proposal for the proposal was made last May.

In the same context, a senior Italian official stated that Italy, the third largest economy in the euro area and the original European center of the epidemic, will likely be the biggest beneficiaries of the plan and that it is expected to obtain grants from the European Emergency Fund worth 82 billion euros and low interest loans of 127 billion euros According to preliminary estimates, according to Bloomberg News.

Technical analysis

The EURUSD pair confirmed the breach of 1.1420 level after closing the daily candle above it, which activates the bullish trend scenario in the intraday and short term, to resume the price of its main bullish path that is organized inside the bullish channels that appear in the picture, waiting for the direction towards 1.1500 then 1.1550 levels as the next major stations.

SMA 50 supports the price from below, to reinforce the positive expectations, which will remain valid unless the 1.1420 level and the most important 1.1350 remain below it.

The expected trading range for today is between 1.1390 ​​support and 1.1550 resistance

Expected trend for today: bullish

Gazprom shares opened the week with a falling price gap after it failed to return to the bullish channel that it was moving in. As trading opened below the support level 185.80 and yesterday attempted to breach this level.

The price is now moving below the averages 50 - 20-7 which form the first levels of price resistance.

While we have major resistance at 202.20 and key support at 158.75.

We see that the stochastic oscillator has left the oversold zone on an upward path and is moving upwards

The price action will be between the support level 158.75 and the resistance level 202.20.

The general direction of movement is neutral.

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session amid the decline in the US dollar index to its lowest level since the tenth of last March, according to the inverse relationship between them after European Union leaders reached an agreement on a virus recovery fund worth 750 billion euros today, Tuesday. Amid the scarcity of economic data at the beginning of this week by the American economy, the largest economy in the world, and with optimism about the positive results on a vaccine for Coronavirus.

At exactly 03:52 AM GMT, gold futures contracts for next August delivery rose 0.05% to trade at $ 1,820.60 per ounce compared to the opening at $ 1,819.60 per ounce, knowing that the contracts started the trading session on an upward price gap after it concluded trades Yesterday at $ 1,817.40 an ounce, with the US dollar index down 0.06% to 95.68 compared to the opening at 95.74.

We have followed, after four days of violent negotiations, European Union leaders reached an agreement on a historic stimulus package to be witnessed by the euro area with the 27 member states unanimously agreeing to issue 750 billion euros ($ 860 billion) in joint debt bonds to help member states within the union reduce the decline The economist, as the emergency fund will provide 390 billion euros in loans and low interest loans of 360 billion euros.

We would like to point out that the agreement of the EU leaders during the European Union economic summit in Brussels for the first time since the outbreak of the Coronavirus, which dealt with the discussion of the European Union’s long-term budget and ways to recover from the negative repercussions of the outbreak of the Coronavirus, represents a victory for German Chancellor Angela Merkel and French President Emmanuel Macron who coined An early proposal for the proposal was made last May.

In the same context, a senior Italian official stated that Italy, the third largest economy in the euro area and the original European center of the epidemic, will likely be the biggest beneficiaries of the plan and that it is expected to obtain grants from the European Emergency Fund worth 82 billion euros and low-interest loans of 127 billion euros According to preliminary estimates, according to Bloomberg News.

On the other hand, we have recently followed up the World Gold Council’s disclosure of its semi-annual periodic report, which stated that the funds traded for gold recorded during the seventh monthly increase in cash flow in June, adding 104 cubic tons of gold, equivalent to $ 5.6 billion or 2.7 % Of assets under management and that global net flows during the first half of 2020 amounted to $ 39.5 billion, outperforming the record increase in 2016.

In the same context, World Gold Council President Joan Carlos Artigas noted that "gold investment funds penetrated several record levels of this world, with investors seeking a safe haven from the economic downturn that created the Coronavirus" adding "to put the current flows in context during the first half of 2020, The flows of gold funds have strongly exceeded the central banks ’purchases of gold during 2018/2019.

Technical analysis

Gold price trading stabilizes inside the bullish intraday channel that appears in the image, and the breach of the resistance of the bullish flag indicated in our recent reports, which supports the expectations of the continuation of the bullish trend in the intraday and short term, which gets continuous support from the moving average 50, is awaiting the visit of the 1870.00 level as the main station. deification.

On the other hand, it should be noted that the continuation of the suggested bullish wave requires stability above 1795.00 level.

The expected trading range for today is between 1800.00 support and 1850.00 resistance.

Expected trend for today: bullish.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session against the Japanese yen after the economic developments and data that it announced today, Tuesday, on the Japanese economy and amid the scarcity of economic data at the beginning of this week by the US economy, the largest economy in the world and optimism about the positive results about a vaccine Coronavirus and after the European Union leaders reached an agreement on the virus recovery fund.

At 05:54 am GMT, the US dollar pair rose against the Japanese yen by 0.07% to 107.35 levels compared to the opening levels at 107.27 after the pair achieved its highest level during the trading session at 107.36, while achieving the lowest at 107.13.

On the Japanese economy, the second-largest in Asia and the third-largest in the world, we followed the disclosure of inflation data with the release of the annual reading of the national consumer price index, which showed stability in the growth rate of 0.1%, little changed from the previous annual reading last May, exceeding expectations That indicated stability at zero levels.

In the same context, the annual reading of the consumer price index that excludes fresh food showed stability at zero levels versus a 0.2% contraction in the previous annual reading in May, outperforming expectations that the contraction decreased to 0.1% while the annual reading excluding energy and food Fresh & Energy's growth was stable at 0.4%, contrary to expectations for slowing growth to 0.3%.

Technical analysis

The dollar-yen pair is hovering around the EMA50, awaiting a negative incentive supporting the resumption of negative trading over the intraday basis, to visit the 106.44 level as a first negative target.

In general, the downside expectations will remain valid unless the 107.68 level is breached and stability above it, as this breach will push the price to rush towards 109.22 in the short term.

The expected trading range for today is between 106.50 support and 108.00 resistance.

Expected trend for today: bearish.

Aeroflot's stock continued the sideways movement during the past week and reached the main support level 78.50, which is one of the important levels to which the price is exposed.

The price has moved above the moving averages 50--20-20, which constitute the first levels of support for the price and prevent it from falling further.

The stochastic oscillator continues the upward movement after exiting the oversold zone and bounced off it, therefore, it will try to press the price to return to the upside and test the 86.50 resistance level.

The stock can be bought at the support level 78.50 and the targets will be 86.64- 97.96 and stop the loss below the 68.00 level.