Analytic reviews

The single currency fluctuated the euro in a narrow range tilted to the upside during the Asian session to see the highest since July 15, when I experienced the highest since the tenth of last March against the US dollar before the developments and economic data expected today Monday by the economies of the euro area Amid the scarcity of economic data earlier this week by the US economy, the largest economy in the world.

At 05:35 am GMT, the euro pair rose against the US dollar by 0.26% to 1.1441 levels, compared to the opening levels at 1.1411 after the pair achieved its highest level in a week at 1.1446, while it achieved its lowest during the trading session at 1.1408, with Knowing that the pair started trading this week on a falling price gap after a, it concluded last week's trading at 1.1428 levels.

Investors are currently awaiting by the largest economies of the euro area, Germany, the release of the producer price index, which is an initial indication of inflationary pressures, which may show growth of 0.2% against a contraction of 0.4% last May, while the annual reading of the same index may show the contraction reduced to 1.5% Against 2.2%, and this comes before we witness the disclosure of the monthly report of the German Central Bank.

The markets are also looking to reveal the seasonally adjusted reading of the current account index for the eurozone economies as a whole, which may reflect the widening of the surplus to 14.5 billion euros compared to 10.2 billion euros last April, just as the seasonally adjusted reading of the same indicator may show a widening of the surplus to its value 15.2 billion euros, compared to 14.4 billion euros in April.

Otherwise, during the weekend, we followed up on the activities of the European Union economic summit, which dealt with the discussion of EU leaders in Brussels for the first time since the outbreak of the Coronavirus to the European Union’s long-term budget and ways to recover from the negative repercussions of the outbreak of the Coronavirus, especially about the 750 billion euro economic recovery fund file. ($ 856 billion), which was marked by disputes over the amount of its distribution through grants and low-interest loans.

Technical analysis

The euro against the dollar ended last Friday's trading above 1.1420, but it opens today with a noticeable negativity to move below this level, which keeps the downside scenario effective for the coming period, supported by the negative signal provided by the stochastic indicator, waiting for the direction towards 1.1270, which represents our next main goal.

On the other hand, it should be noted that breaching 1.1420 again and holding above it will stop the expected decline and push the price to achieve positive targets that start at 1.1500.

The expected trading range for today is between 1.1320 support and 1.1500 resistance.

Expected trend for today: bearish.

The single currency fluctuated the euro in a narrow range tilted to the upside during the Asian session to see the highest since July 15, when I experienced the highest since the tenth of last March against the US dollar before the developments and economic data expected today Monday by the economies of the euro area Amid the scarcity of economic data earlier this week by the US economy, the largest economy in the world.

At 05:35 am GMT, the euro pair rose against the US dollar by 0.26% to 1.1441 levels, compared to the opening levels at 1.1411 after the pair achieved its highest level in a week at 1.1446, while it achieved its lowest during the trading session at 1.1408, with Knowing that the pair started trading this week on a falling price gap after a, it concluded last week's trading at 1.1428 levels.

Investors are currently awaiting by the largest economies of the euro area, Germany, the release of the producer price index, which is an initial indication of inflationary pressures, which may show growth of 0.2% against a contraction of 0.4% last May, while the annual reading of the same index may show the contraction reduced to 1.5% Against 2.2%, and this comes before we witness the disclosure of the monthly report of the German Central Bank.

The markets are also looking to reveal the seasonally adjusted reading of the current account index for the eurozone economies as a whole, which may reflect the widening of the surplus to 14.5 billion euros compared to 10.2 billion euros last April, just as the seasonally adjusted reading of the same indicator may show a widening of the surplus to its value 15.2 billion euros, compared to 14.4 billion euros in April.

Otherwise, during the weekend, we followed up on the activities of the European Union economic summit, which dealt with the discussion of EU leaders in Brussels for the first time since the outbreak of the Coronavirus to the European Union’s long-term budget and ways to recover from the negative repercussions of the outbreak of the Coronavirus, especially about the 750 billion euro economic recovery fund file. ($ 856 billion), which was marked by disputes over the amount of its distribution through grants and low-interest loans.

Technical analysis

The euro against the dollar ended last Friday's trading above 1.1420, but it opens today with a noticeable negativity to move below this level, which keeps the downside scenario effective for the coming period, supported by the negative signal provided by the stochastic indicator, waiting for the direction towards 1.1270, which represents our next main goal.

On the other hand, it should be noted that breaching 1.1420 again and holding above it will stop the expected decline and push the price to achieve positive targets that start at 1.1500.

The expected trading range for today is between 1.1320 support and 1.1500 resistance.

Expected trend for today: bearish.

Gold prices fluctuated in a narrow range tilted towards the decline during the Asian session, to watch its bounce for the fourth session within nine sessions from its highest since September 19, 2011, while the dollar index resumed its bounce from the lowest since June 10, when it tested the lowest since the tenth From March for the second session in four sessions according to the inverse relationship between them.

 After the economic developments and data that we followed about the largest economies in Asia, and amid the scarcity of economic data today, Monday, by the US economy, the largest economy in the world.

At exactly 04:21 am GMT, gold futures contracts for next August delivery fell 0.18% to trade at $ 1,809.00 per ounce compared to the opening at $ 1,812.30 per ounce, knowing that the contracts started the session’s trading on an upward price gap after it concluded trading Last week, at $ 1,810.00 an ounce, with the US dollar index rising 0.08% to 96.14 compared to the opening at 96.06.

We have followed the Japanese economy, the second largest economy in Asia and the third largest economy in the world. The reading of the trade balance showed that the deficit narrowed to 269 billion yen compared to 833 billion yen last May, contrary to expectations that the deficit would shrink to 36 billion yen, as I explained. A seasonally adjusted reading of the same index reduced the deficit to 424 billion yen from 586 billion yen, also worse than expectations that indicated the deficit narrowed to 302 billion yen.

This came with the annual reading of Japanese exports showing that the decline decreased to 26.2% compared to 28.3% in May, worse than expectations that indicated a decrease in the decline to 24.9%, as the annual reading of imports showed that the decline decreased to 14.4% compared to 26.2%, exceeding expectations that She pointed to a decrease in the decline to 16.8%, and we would like to point out, because the decline in exports last month was due to the decline in exports of cars, which represent a large part of Japanese exports.

In another context, we have also followed the Bank of Japan disclosure of the minutes of its last meeting held on July 15, during which monetary policymakers at the Bank of Japan decided to keep interest rates negative at 0.10%, while also remaining committed to directing government bond yields. With a 10-year period at zero and the assurance that additional steps will be taken to facilitate the cash without hesitation if necessary.

The minutes of the Japanese central meeting included a warning that the risks to the economy are in a declining direction, and it is reported that the Bank of Japan revealed on Wednesday the monetary policy statement and its quarterly expectations that touched on the fact that the economy may shrink 4.7% during the fiscal year 2020, and that it may witness an expansion of 3.3% in the fiscal year 2021 and 1.5% in 2022 and that the huge may shrink 0.5% in the fiscal year 2020 before expanding 0.3% in 2021 and 0.7% in 2022.

Technical analysis

The gold price is making attempts to overcome the resistance of the descending sub-channel that represents a bullish continuation flag pattern, to obtain a positive incentive that contributes to pushing the price to resume the main bullish trend and return to the bullish intraday channel that appears in the picture, waiting for the direction to achieve our main positive objective that reaches 1870.00.

SMA 50 continues to support the price from below, to continue to favor the bullish trend for the next period, noting the importance of stability above 1790.00 for the continuation of the suggested bullish wave.

The expected trading range for today is between 1795.00 support and 1840.00 resistance.

Expected trend for today: bullish.

The fluctuation of the US dollar in a narrow range tilted to the upside during the Asian session, to witness the highest level since the eighth of July against the Japanese yen, following the developments and economic data that he announced earlier this week on the Japanese economy, which included the disclosure of the minutes of the meeting of the Japanese Central Bank and amid the scarcity of data Economic Monday by the US economy, the largest economy in the world.

At 6:11 am GMT, the US dollar pair rose against the Japanese yen by 0.12% to 107.25 levels compared to the opening levels at 107.12 after the pair achieved its highest level in two weeks at 107.53, while achieving the lowest during the trading session at 107.02.

We have followed the Japanese economy, the second-largest economy in Asia and the third-largest economy in the world. The reading of the trade balance showed that the deficit narrowed to 269 billion yen compared to 833 billion yen last May, contrary to expectations that the deficit would shrink to 36 billion yen, as I explained. A seasonally adjusted reading of the same index reduced the deficit to 424 billion yen from 586 billion yen, also worse than expectations that indicated the deficit narrowed to 302 billion yen.

This came with the annual reading of Japanese exports showing that the decline decreased to 26.2% compared to 28.3% in May, worse than expectations that indicated a decrease in the decline to 24.9%, as the annual reading of imports showed that the decline decreased to 14.4% compared to 26.2%, exceeding expectations that She pointed to a decrease in the decline to 16.8%, and we would like to point out, because the decline in exports last month was due to the decline in exports of cars, which represent a large part of Japanese exports.

In another context, we have also followed the Bank of Japan disclosure of the minutes of its last meeting held on July 15, during which monetary policy makers at the Bank of Japan decided to keep interest rates negative at 0.10%, while also remaining committed to directing government bond yields. With a 10-year period at zero and the assurance that additional steps will be taken to facilitate the cash without hesitation if necessary.

The minutes of the Japanese central meeting included a warning that the risks to the economy are in a declining direction, and it is reported that the Bank of Japan revealed on Wednesday the monetary policy statement and its quarterly expectations that touched on the fact that the economy may shrink 4.7% during the fiscal year 2020, and that it may witness an expansion of 3.3% in the fiscal year 2021 and 1.5% in 2022 and that the huge may shrink 0.5% in the fiscal year 2020 before expanding 0.3% in 2021 and 0.7% in 2022.

Technical analysis

The dollar against the yen pair opens today trading with a noticeable positive to approach the pivotal resistance test 107.68, influenced by the positivity of the stochastic indicator, but as long as the price is below this resistance, our bearish trend expectations will remain valid, pending a visit to the 106.44 level initially.

It should be noted that breaching 107.68 and holding above it will stop the suggested decline and lead the price to the upside move and achieve positive targets reaching 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.

#VTB

The stock is trading in the upper limit of the descending channel and the price pivot zone of 0.03485, which now serves as a resistance level. A bullish divergence has formed on Awesome Oscillator, and the moving averages of the Stochastic Oscillator are moving upwards from the oversold zone.

#VTB rate online: monitor the price movement in real time.

Trading recommendations:

Buy above the price pivot zone of 0.03485.

Stop Loss: 0.03416.

Target levels: 0.03580; 0.03740.

USDJPY

The pair remains in a very narrow range of 106.60–108.00 amid the uncertainty over the global economic growth. The yen, as a safe haven currency, clearly shows this by its consolidating in this range. This trend is likely to continue for some time.

Technical side:

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is located above the level of 50% and doesn’t move in any particular direction. Stoch are growing.

USDJPY rate online: monitor the price movement in real time.

Trading recommendations:

If the pair doesn’t pass the level of 107.50, it will correct down to 106.85.

USDCAD

The currency pair is trading in the range of the upper border of the descending price channel. Stochastic Oscillator indicates an overbought condition, while Awesome Oscillator indicates a bearish divergence. The ascending H1 level pattern is truncated.

USDCAD rate online: monitor the price movement in real time.

Trading recommendations:

Sell when a descending wave pattern is formed.

Stop Loss: 1.3600.

Target levels: 1.3525; 1.3501.

The Australian dollar versus the US dollar pair grounded on the EMA50 and begins to offer positive, quiet trading now,

In conjunction with positive signs appearing through the stochastic, awaiting the resumption of the expected bullish direction in the intraday and short term, whose targets begin by testing the 0.7064 level.

Holding above 0.6895 is important for the expected continuation to continue, as breaking it will pressure the price to visit the 0.6700 level before any new attempt to rise.

The expected trading range for today is between 0.6940 support and 0.7064 resistance.

Expected trend for today: bullish.