The Australian dollar versus the US dollar is trading above the 50 EMA which forms a good intraday support floor, pending the resumption of the upside suggested in our recent reports, which targets the 0.7064 level as the next main station.

In general, we will continue to suggest the bullish trend for the next period unless 0.6880 level is broken and stability below it.

The expected trading range for today is between 0.6920 support and 0.7050 resistance

Expected trend for today: bullish.

The single currency, the euro, rose during the Asian session against the US dollar amid the scarcity of economic data at the beginning of this week by the economies of the euro area and on the cusp of developments and economic data expected on Monday by the US economy, the largest economy in the world.

At 05:29 am GMT, the euro pair rose against the US dollar by 0.30% to 1.1334 levels, compared to the opening levels at 1.1300 after the pair achieved its highest level during the trading session at 1.1335, while achieving the lowest at 1.1299.

The markets are looking forward to the participation of the member of the Federal Open Market Committee and the President of the New York Federal Reserve Bank John Williams in a non-satellite symposium sponsored by the Bank of England and the New York Federal Reserve, and that comes before we witness the US Treasury unveiled a reading of the federal budget, which may reflect the deficit shrinkage to what its value $ 350.0 billion, compared to $ 398.8 billion in May.

Technical analysis

The euro against the dollar pair starts trading today with a new rise to cross the 1.1300 barrier and moves away from it, reinforcing expectations of the continuation of the bullish trend in the immediate and short term.

Therefore, we await further gains during the upcoming sessions, with a reminder that the continuation of the ascending wave requires stability above 1.1270.

The expected trading range for today is between 1.1250 support and 1.1420 resistance.

Expected trend for today: bullish.

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session amid the US dollar index rebounding to the seventh session in ten sessions from its highest since June 2, according to the inverse relationship between them on the threshold of developments and economic data expected today Monday by the largest US economy Economy in the world and amid hopes for more stimulus in the face of rising cases of HIV infection globally.

At exactly 04:21 am GMT, gold futures contracts for next August delivery rose 0.19% to trade at $ 1,806.80 per ounce compared to the opening at $ 1,803.40 per ounce, knowing that the contracts started the trading session on an upward price gap after it concluded trading Last week at $ 1,801.90 an ounce, with the US dollar index rising 0.18% to 96.44 compared to the opening at 96.62.

The markets are looking forward to the participation of the member of the Federal Open Market Committee and the President of the New York Federal Reserve Bank John Williams in a non-satellite symposium sponsored by the Bank of England and the New York Federal Reserve, and that comes before we witness the US Treasury unveiled a reading of the federal budget, which may reflect the deficit shrinkage to what its value $ 350.0 billion, compared to $ 398.8 billion in May.

Other than that, investors are waiting this week for the start of the activities to reveal the results of the business for major companies and major international banks, which will provide more performance on how the nerve of global economies deals with the global outbreak of the Corona virus amid a state of optimism about the timeline for discovering the effective vaccine and put it quickly in addition to expectations With additional potential political support for the US economy.

Technical analysis  

Gold price tested the support for the bullish intraday channel and starts bouncing up from there, where SMA 50 meets this support to add more strength to it, while the stochastic continues to provide positive signals.

Consequently, we continue to favor the bullish trend over the short and intraday basis, noting that our awaited targets rise to 1840.00 then 1860.00, while achieving them requires stability above 1775.00.

The expected trading range for today is between 1790.00 support and 1830.00 resistance.

Expected trend for today: bullish.

The fluctuation of the US dollar in a narrow range slanted toward decline during the Asian session to witness its rebound to the seventh session in nine sessions from its highest since June 9 against the Japanese yen amid the scarcity of economic data at the beginning of this week by the Japanese economy and on the cusp of developments and economic data expected today Monday by the American economy, the largest economy in the world.

At exactly 05:50 am GMT, the US dollar pair fell against the Japanese yen by 0.02% to 106.90 levels compared to the opening levels at 106.92, after the pair achieved its lowest level during the trading session at 106.79, while achieving the highest at 106.97.

The markets are looking forward to the participation of the member of the Federal Open Market Committee and the President of the New York Federal Reserve Bank John Williams in a non-satellite symposium sponsored by the Bank of England and the New York Federal Reserve, and that comes before we witness the US Treasury unveiled a reading of the federal budget, which may reflect the deficit shrinkage to what its value $ 350.0 billion, compared to $ 398.8 billion in May

Technical analysis

The dollar versus the yen offered additional negative trades in the previous sessions to approach our waited target at 106.44, and we notice that the stochastic indicator is losing its positive momentum significantly, waiting for price stimulus to provide more bearish tendency to break the mentioned level and confirm opening the way towards heading towards 105.20 that represents our station The following major.

Thus, we continue to favor the bearish trend for the next period unless the price rushes to breach the 107.68 level and persist with a daily closing above it.

The expected trading range for today is between 106.00 support and 107.30 resistance.

Expected trend for today: bearish.

GBPNZD

The overall trend is downward. The currency pair is trading in the upper edge of the descending price channel. An ascending truncated H2 level pattern has formed. A bearish divergence has formed on Awesome Oscillator.

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

Trading recommendations:

Sell when a descending wave pattern is formed, where the wave (A) breaks through the inclined channel of the ascending truncated H2 level pattern.

Stop Loss for the local maximum (1.9263).

Target levels: 1.9036; 1.8923.

#SURGUT

The price pivot zone of 38.10 holds back sellers. Awesome Oscillator shows a bullish divergence. The nearest resistance level is 38.70.

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

Trading recommendations:

Buy above 38.70.

Stop Loss under the support level 38.10.

Target levels: 40.00; 41.10.

USDCAD

The pair remains in a very narrow range of 1.3480–1.3630 ahead of the OPEC+ meeting on crude oil supply regulation, as well as the Bank of Canada’s monetary policy meeting this week.

Technical side:

The price is on the middle Bollinger band, on the level of SMA 5 and below SMA 14. RSI is located below the 50% level and is moving horizontally. Stoch are in the oversold zone.

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

Trading recommendations:

If the price falls below 1.3550, it may go further down to 1.3480.