Analytic reviews

We do not have anything new on Cisco stock movement, as the stock continues to provide noticeable positive trades to settle in trading around the moving average 20, which supports expectations of achieving more gains during the upcoming sessions, provided the stability above the average 20, which constitutes a level of support for the price pending the trend towards 48.31 which represents our goal next one.

Thus, we will continue to favor the bullish trend over the short and intraday basis, and if the price manages to resist 48.31, the positive pressure on the price will increase to reach the level of 50.56.

The expected trading range is between 42.30 support and 48.30 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 bounce for the second session from the top since March 10 against the US dollar, on the cusp of developments and economic data expected today by the economies of the euro zone and the US economy, which includes the activities of the bank meeting The European Central and the upcoming press conference of the European Central Governorate Christine Lagarde.

At 05:05 am GMT, the euro against the US dollar fell 0.04% to 1.1407 levels, compared to the opening levels at 1.1412, after the pair achieved its lowest level during the trading session at 1.1400, while achieving the highest at 1.1419

The markets are looking for France, the euro zone's second-largest economy, to disclose inflation data with the final reading of the consumer price index, which may confirm a 0.1% contraction in June and 0.1% growth last May, and that comes before we see Italy the third largest The economies of the region released the May Trade Balance reading.

Up to the disclosure of the seasonally adjusted reading of the trade balance index for the eurozone economies, which may reflect the widening of the surplus to 1.2 billion euros against 5.0 billion euros last April, and this comes before we witness the activities of the European Central Council amid expectations to keep interest rates at Zero levels and stabilization of the marginal lending rate at 0.25% in addition to maintaining the negative deposit interest rate -0.50%.

On the other hand, investors are currently awaiting by the US economy the disclosure of retail sales, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product of the United States, which may reflect slowing growth to 5.0% compared to 17.7% in May, as may A substantial reading of the same indicator shows growth slowed to 5.0% compared to 12.4% in May.

This comes in conjunction with the issuance of the aid claims index for the last week on July 11, which may reflect a decline of 64 thousand requests to 1,250 thousand applications compared to 1,314 thousand requests in the previous reading, as the reading of the continuous benefit applications for the past week may appear on the fourth of this Month decreased by 462 thousand requests to 17,600 thousand requests compared to 18,062 thousand requests in the previous reading.

This also comes in conjunction with the disclosure by the largest industrialized country in the world of industrial sector data with the release of the Philadelphia Industrial Index reading, which may reflect the widening of the contraction to 20.0 compared to 27.5 in June, before we witness the release of the final reading of the wholesale inventory index That may show the decline widening to 2.3% versus 1.3% in April.

Up to the disclosure of housing market data with the release of the housing index reading by the National Association of Home Builders, which may reflect a rise to $ 60 compared to 58 in May, before we witness the speech of a member of the Federal Open Market Committee and President of the New York Federal Reserve Bank John Williams At an online seminar hosted by the Financial Research Advisory Committee.

Technical analysis

The EURUSD pair was unable to hold long above the 1.1420 level, to trade negatively and settle below this level, which puts the price under expected negative pressure for the coming period, to start forming a descending wave, we expect to target the 1.1270 level mainly.

Therefore, the bearish bias will be expected for today, taking into consideration that breaching 1.1420 and holding above it will stop the suggested decline and lead the price to resume the main bullish trend again.

The expected trading range for today is between 1.1300 support and 1.1480 resistance.

Expected trend for today: bearish.

Gold Analysis 16-07-2020

Gold price futures fluctuated in a narrow range tilted backward to witness their bounce for the third session in seven sessions from the highest since September 19, 2011, amid the US dollar index rebounded for the second session from the lowest since June 10, when it tested the lowest since On the tenth of March, according to the inverse relationship between them, following the economic developments and data that were followed by the Chinese economy, the largest consumer of metals globally, and on the cusp of developments and economic data expected today, Thursday, by the US economy, the largest economy in the world.

At exactly 04:02 AM GMT, gold price futures for next August delivery fell 0.03% to trade at $ 1,812.50 an ounce compared to the opening at $ 1,813.10 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded trades Yesterday at $ 1,813.80 an ounce, with the US dollar index rising 0.11% to 96.11 compared to the opening at 96.00.

We have followed the National Bureau of Statistics revealed to China the seasonally adjusted reading of GDP, which showed the growth of the largest economies of Asia and the second largest economy in the world 11.5% compared to a contraction of 9.8% during the first quarter, surpassing expectations that indicated growth of 9.6%, as indicated by the annual reading The same index had a growth of 3.2% compared to a contraction of 6.8% in the previous one for the first quarter, also outperforming the forecasts for a growth of 2.2%.

We also followed up on the Chinese economy to reveal the annual reading of the retail sales index, which reflected the shrinkage of the decline to 1.8% compared to 2.8% last May, worse than the expectations that indicated a growth of 0.5%, while the annual reading of the index of industrial production showed that the growth accelerated to 4.8% compatible With expectations compared to 4.4% in May, the reading of the unemployment rate index showed a decline to 5.7%, also in line with expectations, compared to 5.9% in May.

On the other hand, investors are currently awaiting by the US economy the disclosure of retail sales, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product of the United States, which may reflect slowing growth to 5.0% compared to 17.7% in May, as may A substantial reading of the same indicator shows growth slowed to 5.0% compared to 12.4% in May.

This comes in conjunction with the issuance of the aid claims index for the last week on July 11, which may reflect a decline of 64 thousand requests to 1,250 thousand applications compared to 1,314 thousand requests in the previous reading, as the reading of the continuous benefit applications for the past week may appear on the fourth of this Month decreased by 462 thousand requests to 17,600 thousand requests compared to 18,062 thousand requests in the previous reading.

This also comes in conjunction with the disclosure by the largest industrialized country in the world of industrial sector data with the release of the Philadelphia Industrial Index reading, which may reflect the widening of the contraction to 20.0 compared to 27.5 in June, before we witness the release of the final reading of the wholesale inventory index That may show the decline widening to 2.3%, compared to 1.3% last April.

Up to the disclosure of housing market data with the release of the housing index reading by the National Association of Home Builders, which may reflect a rise to $ 60 compared to 58 in May, before we witness the speech of a member of the Federal Open Market Committee and President of the New York Federal Reserve Bank John Williams At an online seminar hosted by the Financial Research Advisory Committee.

Technical analysis

Gold price continues attempts to overcome the resistance of the bullish flag that appears in the image, and gets continuous positive support from the EMA50, to keep the bullish trend scenario active and effective for the coming period, which is organized inside the bullish channels, noting that our expected targets start at 1850.00 then 1865.00.

On the other hand, we should note that breaching the 1785.00 level will stop the suggested rise and put pressure on the price to start a descending correction wave.

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

Expected trend for today: bullish.

USDCHF

The overall trend is downward. The ascending H1 level pattern is currently truncated. Awesome Oscillator shows a bearish divergence, while Stochastic Oscillator indicates an overbought condition.

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

Trading recommendations:

Sell when a descending wave pattern is formed, where the wave (aS) breaks through the inclined channel of the ascending pattern.

Stop Loss beyond the local maximum.

Target levels: 0.9424; 0.9370.

EURUSD

The pair is trading below the 1.1415 ahead the ECB's monetary policy decision, to be made today. The central bank is expected to leave interest rates and the monetary policy unchanged, which will stimulate the demand for risk assets and the euro amid the hopeful outlook for the recovery fund and the possible early start of production of the coronavirus vaccine.

Technical side:

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is located under the overbought zone and is gradually declining. Stoch indicate a weaker decline.

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

Trading recommendations:

A breakout of the 1.1415b amid the optimism will result in further growth to 1.1500.

#ROSNEFT

The inclined channel of the descending pattern is broken by the formation of the assumed wave 1 of 1-2-3 pattern. A breakout of the price pivot zone of 363.00 will result in the formation of ascending pattern 1-2-3. Stochastic Oscillator indicates an oversold condition, and Awesome Oscillator shows a bullish divergence.

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

Trading recommendations:

Buy on the breakout of the price pivot zone of 363.00.

Stop Loss under the support level 349.16.

Target levels: 383.00; 406.00.

The Australian dollar rose during the Asian session to witness its highest since June 10, when it was tested the highest since July 19, 2019, against the US dollar after the developments and economic data that were reported by the Australian economy and on the cusp of developments and economic data expected today Wednesday by the economy The American is the largest economy in the world.

At 02:26 am GMT, the Australian dollar pair rose against the US dollar, 0.40% to 0.7003 levels, compared to the opening levels at 0.6975, after the pair achieved its highest level in five weeks at 0.7018, while the pair achieved the lowest at 0.6971.

We have followed up on the Australian economy to reveal a reading of the Weissbank consumer confidence index, which showed a 6.1% decline to 93.7 compared to a rise of 6.3% at 88.1 last June, and that comes hours before the disclosure tomorrow Thursday of the Australian labor market data for the past month and expectations Consumers of inflation for this month with the release of unemployment rates and change in employment in addition to the Melbourne Institute's reading of consumer expectations of inflation.

On the other hand, investors are currently awaiting by the US economy the release of the import price index, which may clarify the stability of growth at 1.0%, with little change from the previous reading last May, and this comes in conjunction with the disclosure of industrial sector data for the largest industrial country in the world With the release of the New York Manufacturing Index reading, which may reflect a 10.0% expansion versus a contraction at 0.2 in June.

Up to the issuance of the industrial production index, which may reflect the acceleration of growth to 4.5% compared to 1.4% in May, as a reading of the Energy Utilization Index may show the acceleration of growth to 67.9% compared to 64.8% in May, before we witness the talk of the committee member Federal Open Market and Federal Reserve Chairman Patrick Harker about economic prospects in a hypothetical discussion hosted by the City Center Owners Association.

This comes before we witnessed the unveiling of the book Beige, whose importance lies in the fact that it is issued two weeks before the meeting of the Federal Open Market Committee. Kong and that he also signed an executive order ending Hong Kong's special status with the United States.

Technical analysis

The Australian dollar against the US dollar pair opens the trading today with a noticeable positive to begin attempts to breach the 0.7000 barrier, which supports the continuation of the expected upside scenario in the intraday and short term, which targets the level of 0.7064 as the next main station.

Therefore, the bullish trend will remain favorable during the upcoming sessions unless the 0.6890 level is broken and stability is below it.

The expected trading range for today is between 0.6930 support and 0.7064 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 its top since the tenth of last March against the US dollar amid the scarcity of economic data by the economies of the euro area and on the cusp of developments and economic data expected on Wednesday by the largest US economy Economy of the world.

At 05:13 AM GMT, the euro against the US dollar fell 0.04% to 1.1395 levels, compared to the opening levels at 1.1400 after the pair achieved its lowest level during the trading session at 1.1391, while achieving the highest in four months at 1.1423.

Investors are currently awaiting by the US economy the release of the import price index, which may clarify the stability of growth at 1.0%, little changed from the previous reading last May, and this comes in conjunction with the disclosure of industrial sector data for the largest industrial country in the world with the release of reading The New York industrial index, which may reflect a 10.0 percent expansion versus a contraction at 0.2 in June.

Up to the issuance of the industrial production index, which may reflect the acceleration of growth to 4.5% compared to 1.4% in May, as a reading of the Energy Utilization Index may show the acceleration of growth to 67.9% compared to 64.8% in May, before we witness the talk of the committee member Federal Open Market and Federal Reserve Chairman Patrick Harker about economic prospects in a hypothetical discussion hosted by the City Center Owners Association.

This comes before we witnessed the unveiling of the book Big, whose importance lies in the fact that it is issued two weeks before the FOMC meeting. Otherwise, we followed yesterday the US President Donald Trump's announcement of signing legislation to impose sanctions on China in response to its interference in the autonomy of Hong Kong He also signed an executive order ending Hong Kong's special status with his country, while again blaming China for the global outbreak of corona.

Technical analysis

The EURUSD pair succeeded in touching our awaited target at 1.1420 and found strong resistance there, to start offering negative trades now in a sign to start a possible bearish intraday wave, especially as the stochastic indicator shows clear negative signs, while the EMA50 continues to provide positive support for the price.

Therefore, we prefer temporarily stopping neutral until the price confirms its position in relation to the above-mentioned level, as its breach will push the price to 1.1500 as the next positive target, while failure to breach will press the price to drop and test 1.1300 then 1.1270 areas before any new attempt to rise.

The expected trading range for today is between 1.1300 support and 1.1500 resistance.

Expected trend for today: neutral.