Analytic reviews

#SBER

The overall trend is upward. The stock is trading in the range of 365 and 150 moving averages. A breakout of the resistance level of 209.55 will result in the formation of ascending pattern 1-2-3. Also, Stochastic Oscillator indicates an oversold condition.

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

Trading recommendations:

Buy above 209.55.

Stop Loss: 202.70.

Target levels: 221.00; 229.34.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its bounce for the second session in four sessions from the lowest since June 24 against the Japanese yen, following the developments and economic data that it had reported on the Japanese economy and on the cusp of developments and economic data expected on Wednesday by The American economy is the largest economy in the world.

At exactly 06:11 am GMT, the US dollar pair rose against the Japanese yen by 0.04% to 107.28 levels compared to the opening levels at 107.24 after the pair achieved its highest level during the trading session at 107.31, while achieving the lowest at 107.19.

We have followed the monetary policymakers ’decision with the Japanese central bank to keep interest rates negative at 0.10%, which came in line with expectations, while also remaining committed to directing the 10-year government bond yield at zero and ensuring that additional steps will be taken For monetary easing without hesitation if necessary, warning that the risks to the economy are in a downtrend.

The Bank of Japan disclosed the monetary policy statement and its quarterly forecast, which touched on the fact that the Japanese economy may shrink 4.7% during FY 2020, and that it may witness an expansion of 3.3% in FY 2021 and 1.5% in 2022 and that the huge may shrink 0.5% in FY 2020 before To expand 0.3% in 2021 and 0.7% in 2022. Otherwise, the markets are looking forward to the events of the press conference that Bank of Japan Governor Haruhiko Kuroda will hold.

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 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 dollar pair hovers against the yen around the EMA50, and settles below the resistance line that appears in the picture, and therefore, there is no change to the expected bearish trend scenario for the upcoming period, which depends on stability below 107.68 level, while its main targets start at 106.44 and extend to 105.20 after crossing the level the previous.

The expected trading range for today is between 106.40 support and 107.80 resistance.

Expected trend for today: bearish.

The Sber Bank share is moving within a side path between the support levels (202.63) and the resistance (215.85) after settling in the movement within the upward channel, which we have shown in the drawing, after the price ended the upward correction movement to return the price to rise again.

The current price movement occurs between the support level 202.63 and the resistance level 229.06 over the medium term.

While the main targets will be at the support level 185.11 and the resistance level 239.00.

  Moving averages are below the price (50 near the support level 202.63 and moving average 20 near level 209.40) and increase the possibility of a further price increase.

The general direction of the movement: upward path.

EURUSD

The pair continues to rally amid hopes of the EU reaching an agreement on the economic recovery fund. Another factor contributing to the pair’s growth is the dollar weakened by the rising demand for risk assets.

Technical side:

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is under the overbought zone. Stoch leave this zone.

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

Trading recommendations:

After reaching the local maximum of 1.1415, the pair may correct down to 1.1360 before continuing to rise to 1.1500.

GBPUSD

The ascending M30 level pattern ended with the breakout of an inclined channel. This is probably a wave (In H2) of the descending H2 level pattern. Stochastic Oscillator indicates an overbought situation. A start fractal has formed below 135 EMA, the breakdown of which will result in the formation of a descending wave pattern within the wave (C) of the descending H2 level pattern.

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

Trading recommendations:

Sell below 1.2562.

Stop Loss: 1.2667.

Target levels: 1.2483; 1.2436.

If the local maximum is updated, cancel the trading plan. For selling, the inclined channel should be restructured to the new ascending pattern.

The Australian dollar fluctuated in a narrow range slanting back down during the Asian session to witness its bounce for the fourth consecutive session from the top since last June 11 against the US dollar after the developments and economic data that it had reported on the Australian economy and on the cusp of developments and economic data expected today Tuesday by The American economy is the largest economy in the world.

At 02:35 am GMT, the Australian dollar pair declined against the US dollar 0.09% to 0.6934 levels compared to the opening levels at 0.6940, after the pair achieved its lowest level during the trading session at 0.6927, while the pair achieved its highest at 0.6947.

On the Australian economy, we have followed the disclosure of the Australian National Bank’s business confidence index, which showed a widening value of 1 versus a contraction at its value of 20 in the previous reading last May. Its value is 7 versus its value of 24 in May.

On the other hand, investors are currently waiting for the US economy to disclose inflation data with the release of the CPI reading that may show 0.5% growth versus a 0.1% contraction in May, as the substantial reading of the same indicator may show 0.1% growth versus 0.1% contraction While the annual reading of the index may reflect the acceleration of growth to 0.6% versus 0.1%, and the substantial annual reading may show a slowdown in growth to 1.1% versus 1.2%.

Technical analysis

The Australian dollar versus the US dollar traded negatively yesterday evening, to press SMA 50, noting that the stochastic is trying to gain positive momentum, as it reaches oversold areas now, while awaiting price stimulus to resume the main bullish trend.

So far, the bullish scenario is still effective with a price above 0.6880, noting that our expected main target is at 0.7064.

The expected trading range for today is between 0.6880 support and 0.7020 resistance.

Expected trend for today: bullish.