Analytic reviews

The Australian dollar versus the US dollar presented positive trading yesterday, to move away from the EMA50, to keep the bullish scenario effective in the intraday and short term, which aims to test the 0.7064 level initially.

The price may witness temporary temporal fluctuation until it is able to acquire a positive momentum sufficient to push trades to continue the bullish trend, while noting that stability above 0.6870 is important for the continuation of the suggested rise.

The expected trading range for today is between 0.6920 support and 0.7040 resistance.

Expected trend for today: bullish.

We have nothing new on the movement of Cisco shares, as the stock continues to provide positive and positive trades to settle in trading around the moving average 20, which supports expectations for 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, the euro, rose during the Asian session to witness its highest since June 11 against the US dollar on the threshold of economic developments and data expected on Thursday by the Eurozone economies, which include Eurogroup meetings via satellites in Brussels and on the cusp of developments and economic data expected from the economy The American is the largest economy in the world.

At 05:33 am GMT, the euro pair rose against the US dollar by 0.33% to 1.1367 levels, compared to the opening levels at 1.1330 after the pair achieved its highest level in a month at 1.1371, while achieving the lowest during the trading session at 1.1328.

Markets are looking for Germany, the largest economy in the eurozone, to disclose the reading of the current account index for the month of May, in conjunction with the disclosure of the reading of the trade balance index also for Germany, which may show a widening of the surplus to 6.6 billion euros against 3.2 billion euros in April. The past, and amid expectations, showed a seasonally adjusted reading of exports and imports up during May.

This comes in conjunction with the meetings of the Eurogroup via satellite, which is attended by the finance ministers of the member states in the region, the Commissioner for Economic and Monetary Affairs and the European Central Bank, which discusses many financial issues such as the mechanisms to support the euro and government financing, led by the European Union recovery package of the repercussions Negative to the outbreak of coronavirus.

It is noteworthy that the European Central Governor Christine Lagarde praised yesterday the measures taken by the European Central, indicating that it showed a great deal of efficiency and effectiveness, adding that these measures will provide him with some time to assess the economic data of the euro area, while stating that the economic recovery will be restricted and uncertain and that some countries in the region The euro will recover faster than others and the financial markets have calmed down noticeably for now.

In another context, we have also followed up yesterday, the European Union's chief negotiator for Britain’s exit from the European Union, Michel Barnier, expressed that the European Union held good negotiations with the British side last Tuesday regarding the free trade agreement between the two sides, while German Chancellor Angela Merkel confirmed yesterday that the union The European needs to unite around the recovery package while expressing its expectations for good cooperation between European partners.

Other than that, we followed last Tuesday, European Union Trade Commissioner Phil Hogan expressed the fact that Brussels would take decisive measures against Washington in the event that the United States did not show a willingness to settle the long-standing dispute over support to the aircraft industry, with his statement that America had rejected Europe's proposals to settle the dispute Al-Qa’im and he hopes that the World Trade Organization will issue its ruling as soon as possible.

It is noteworthy that the dispute between the two parties about the support provided to the aircraft industry, especially for the European Airbus and Boeing Company, which erupted since 2004, and the WTO has already given Washington the right to impose duties on European goods worth $ 7.5 billion in response to the support provided by Europe to Airbus, and it is expected By September, the organization will pass judgment on the response that Europe can take about America's support for Boeing.

On the other hand, investors are currently awaiting by the American economy the release of the index of subsidy requests for the last week on the fourth of July, which may reflect a decline of 52 thousand requests to 1,375 thousand applications compared to 1,427 thousand requests in the previous reading, as may appear reading subsidy applications Continuing for the last week on the 27th of June, down by 340 thousand requests to 18,950 thousand requests compared to 19,290 thousand requests.

This comes before we witness the issuance of the final reading of the wholesale stocks index, which may confirm a decline of 1.2%, unchanged from the initial reading for the month of May, and against a rise of 0.3% last April, and in the shadow of the market's assessment of the increasing number of cases infected with the Coronavirus in America, This prompted many states to propose the restoration of closures, while White House economic adviser Larry Kudlow yesterday stressed that the economy would not be closed again.

Technical analysis

The euro against the dollar pair begins trading today with a new positive to penetrate the level of 1.1340 and is trying to hold above it, which supports the continuation of our expectations for an effective trend in the immediate and short term, paving the way for achieving more gains during the upcoming sessions, pending the trend towards 1.1420, which represents our next major station.

Consequently, the positive scenario will remain valid and active for today, supported by the EMA50, keeping in mind that stability above 1.1270 is a key condition for the suggested continuation.

The expected trading range for today is between 1.1270 support and 1.1440 resistance.

Expected trend for today: bullish.

Gold price futures fluctuated in a narrow range that tilted higher to witness stability near its highest in nine years amid the decline in the US dollar index to its lowest since June 11, according to the inverse relationship between them after the developments and economic data that were followed by the Chinese economy, the largest consumer of metals globally On the cusp of developments and economic data expected today, Thursday, by the US economy, the largest economy in the world, and in the shadow of concern about the increasing numbers of people infected with coronavirus, especially in the continents of South and North America.

At exactly 04:18 am GMT, gold futures contracts for next August delivery rose 0.14% to trade at $ 1,821.30 per ounce compared to the opening at $ 1,818.80 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded trading Yesterday at $ 1,820.60 an ounce, with the US dollar index down 0.21% to 96.25 compared to the opening at 96.45.

We have followed the disclosure of the Chinese National Bureau of Statistics of inflation data with the release of the annual reading of the consumer price index, which indicated the acceleration of the pace of growth to 2.5%, in line with expectations, compared to 2.4% last May. As for the annual reading of the producer price index, which is an initial indicator Inflationary pressures showed that the contraction shrank to 3.0% versus 3.7%, outperforming expectations that the contraction shrank to 3.2%.

On the other hand, investors are currently awaiting by the American economy the release of the index of subsidy requests for the last week on the fourth of July, which may reflect a decline of 52 thousand requests to 1,375 thousand applications compared to 1,427 thousand requests in the previous reading, as may appear reading subsidy applications Continuing for the last week on the 27th of June, down by 340 thousand requests to 18,950 thousand requests compared to 19,290 thousand requests.

This comes before we witness the issuance of the final reading of the wholesale stocks index, which may confirm a decline of 1.2%, unchanged from the initial reading for the month of May, and against a rise of 0.3% last April, and in the shadow of the market's assessment of the increasing number of cases infected with the Coronavirus in America, This prompted many states to propose the restoration of closures, while White House economic adviser Larry Kudlow yesterday stressed that the economy would not be closed again.

Technical analysis

Gold price shows the further rise and approached our second awaited target at 1827.00, and affected by the stochastic negativity to present some slight negative trades now, pending obtaining a positive momentum enough to push the price to resume the main bullish trend, whose next target is located at 1855.00.

SMA 50 continues to provide positive support for the price, which is organized within the bullish channels that appear in the picture, and therefore, we continue to favor the bullish trend for the next period provided that the price maintains its stability above the level of 1766.00.

The expected trading range for today is between 1795.00 support and 1830.00 resistance.

Expected trend for today: bullish.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its rebound from the lowest since June 29 against the Japanese yen, following the developments and economic data that were reported by the Japanese economy and on the cusp of developments and economic data expected Thursday by the US economy, the largest economy in The world is in the shadows of concern about the increasing number of people infected globally with the Coronavirus, especially in the United States.

At exactly 06:01 am GMT, the US dollar pair rose against the Japanese yen by 0.04% to 107.30 levels compared to the opening levels at 107.26 after the pair achieved its highest level during the trading session at 107.36, while achieving the lowest in a week at 107.18.

We have followed about the Japanese economy, the third-largest economy in the world and the third-largest industrialized country globally, to disclose the reading of the machinery orders index, which showed a rise of 1.7% compared to a decline of 12.0% last April, surpassing expectations that indicated a decline of 5.2%, while the annual reading showed For the same index, the decline declined to 16.3% compared to 17.7%, also exceeding expectations that indicated a decline of 17.1%.

This came in conjunction with the disclosure of the annual reading of the M-2 money supply index, which showed an acceleration in the growth rate to 7.2% compared to 5.1% last May, outperforming expectations at 5.6%, up to the disclosure of the annual primary reading of the machinery rate requests index That reflected a contraction of the decline to 32.0% compared to 52.8% in May.

Other than that, we followed earlier this week, according to Japanese Economy Minister Yasutoshi Nishimura, that the Japanese government agreed with experts that it is possible to lift more restrictions imposed on Asia's second-largest economy to contain the outbreak of the Corona Virus by July 10 this year. The decision will be adopted taking into account comprehensive steps to prevent the spread of coronavirus in his country.

On the other hand, investors are currently awaiting by the American economy the release of the index of subsidy requests for the last week on the fourth of July, which may reflect a decline of 52 thousand requests to 1,375 thousand applications compared to 1,427 thousand requests in the previous reading, as may appear reading subsidy applications Continuing for the last week on the 27th of June, down by 340 thousand requests to 18,950 thousand requests compared to 19,290 thousand requests.

This comes before we witness the issuance of the final reading of the wholesale stocks index, which may confirm a decline of 1.2%, unchanged from the initial reading for the month of May, and against a rise of 0.3% last April, and in the shadow of the market's assessment of the increasing number of cases infected with the Coronavirus in America, This prompted many states to propose the restoration of closures, while White House economic adviser Larry Kudlow yesterday stressed that the economy would not be closed again.

Technical analysis

Yesterday the dollar versus the yen traded negatively, moving away from the 107.68 level and settling below the EMA50 now, to keep the bearish trend scenario effective for the upcoming period, and the path is open for heading towards our expected negative target at 106.44.

Stability below 107.68 is important for the continuation of the expected decline, as breaching it will lead the price to start recovery attempts targeting the areas of 108.15 then 109.22 in the near term.

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

Expected trend for today: bearish.

#KO

The support level of 43.50 continues to restrain sellers. Stochastic Oscillator signals an oversold condition. A breakout of the resistance level 45.51 will result in the formation of a1-2-3 ascending pattern.

#KO shares online: monitor the price movement in real time.

Trading recommendations:

Buy above 45.51.

Stop Loss below the support level of 43.50.

Target levels: 47.60; 50.00.

EURUSD

The pair broke out of the range of 1.1190–1.1345 where it’s been for some time. The pair is supported by the hopes that the recovery fund plan will be approved at the EU summit on July 18th.

Technical side:

The price is above the upper Bollinger band, above SMA 5 and SMA 14. Moving Averages suggest buynig. RSI is under the overbought zone and rising. Stoch enter the overbought zone.

EURUSD rate online: monitor the movement of the pair in real time.

Trading recommendations:

If the price fixes above 1.1345, it will continue further up to 1.1420 with a possible increase to 1.1500.

AUDUSD

The currency pair is trading in the upper flat range. The main H4 level pattern is truncated and the subwaves of the wave C (ascending H2 level pattern) currently have a truncated wave C. The formation of a reversal wave model is likely. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals overboughtness.

AUDUSD rate online: monitor the movement of the pair in real time.

Trading recommendations:

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