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When buying an option against the trend, it is necessary to consult other technical analysis tools: the presence of divergence, reversal candlestick patterns. Buy against the trend strictly on the retest level! Buying an option before important economic news releases is considered risky. The expiration time depends on the strength of the level and the confirmation by additional tools of technical and fundamental analysis.

There is nothing new about the movement of the Sber Bank stock, as the stock continues to move within an ascending channel that appears in the chart, where we notice that the current movement is a correction of the bullish path.

The current price movement is taking place between the 202.40 support level and the resistance level 210.20.

While the main targets will be at the support level 196.00 and the resistance level 210.20 where the moving averages are located (50 at the support level and the moving average 20 near the resistance level).

The stochastic is forming a negative crossover, thus pressuring the price to retest the support before completing the bullish path.

The general direction of the movement: upward path

The US dollar fell during the Asian session to witness its rebound from above since June 9 against the Japanese yen after the developments and economic data that it followed on the Japanese economy and on the cusp of developments and economic data expected today by the US economy, which includes the disclosure of the minutes of the Federal Market Committee meeting The open and following Fed testimony Jerome Powell before Congress.

At exactly 05:53 AM GMT, the US dollar pair rose against the Japanese yen by 0.17% to 107.76 levels compared to the opening levels at 107.58 after the pair achieved its highest level during the trading session at 107.79, while achieving the lowest at 107.54.

We followed about the Japanese economy, the second largest economy in Asia, the third largest economy, and the third largest industrialized country globally. The release of the first reading of industrial production, which showed a decline in retreat to 8.4% compared to 9.8% last April, is worse than expectations that indicated a decline in the decline to 5.6%, while The annual reading of the same index showed that the decline widened to 25.9% compared to 15.0% in April, also worse than expectations, which indicated a decline of 11.3%.

This came in conjunction with the release of the unemployment rate reading, which showed an increase to 2.9% compared to 2.6% in April, worse than expectations that indicated an increase to 2.8%, to the disclosure of housing market data with the release of the annual reading of the index of start-up that showed a contraction The decline fell to 12.3% compared to 12.9% in April, contrary to expectations that the decline will extend to 15.0%.

On the other hand, investors are currently watching by the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect about 2,850 thousand added jobs compared to the loss of 2,760 thousand jobs in May, and this comes hours before the disclosure After tomorrow, Friday, the monthly report for jobs except agricultural and unemployment rates in addition to the hourly rate for the month of June.

This comes before we witness the disclosure of the final reading of the manufacturing PMI by Markit for the United States, which may reflect the stability of the contraction at a value of 49.6, little changed from the initial reading for the past month and against a contraction at 39.8 in May, before we witness the release of The construction spending index, which shows a 1.0% increase compared to a 2.9% decline in April.

Up to the disclosure by the largest industrial country in the world of the reading of the Institute of Industrial Supply index, which may show contraction shrinkage to 49.5 compared to 43.1 in May, as the reading of the Institute of Industrial Supply measured in prices may indicate shrinkage of deflation to 43.8 compared to 40.8 , And we would like to point out, because the reading reading at a value of 50 or higher reflects an amplitude, while its reading under 50 indicates a contraction.

This comes before the Federal Reserve revealed the minutes of the Federal Open Market Committee meeting that took place on 9-10 June, through which it decided to fix interest on federal funds at zero levels between zero and 0.25%, which came in line with expectations at the time. And, with the disclosure also at the time of the expectations of the members of the Committee of the rates of growth, inflation and unemployment in addition to the future interest rates for the next three years.

We would like to point out, because the expectations of the members of the Federal Committee included at that time that short-term benchmark interest rates will remain at their zero levels until 2022 and that the American economy may shrink 6.5% during 2020 and that unemployment rates may reach 9.3% by the end of this year 2020, before It declined to 6.5% in 2021 and to 5.5% in 2022.

We have followed about the Japanese economy, the third largest economy in the world and the third largest industrialized country globally. The reading of the Tankan Industrial Index read, which showed the worst performance of the index since the second quarter of 2009, with the contraction widening to 34 compared to 8 in the first quarter last, worse than the expectations that indicated the expansion of deflation. To 31, while the Tankan Service Index reading shrank 17 versus the breadth of 8 in the first quarter, beating the forecasts that indicated a contraction of 20.

This comes before the Federal Reserve revealed the minutes of the Federal Open Market Committee meeting that took place on 9-10 June, through which it decided to fix interest on federal funds at zero levels between zero and 0.25%, which came in line with expectations at the time. And, with the disclosure also at the time of the expectations of the members of the Committee of the rates of growth, inflation and unemployment in addition to the future interest rates for the next three years.

In another context, yesterday we followed the testimony of the Federal Reserve Governor Powell and the US Treasury Secretary Stephen Manuchin before the House Financial Services Committee, through which Powell stated that controlling the Corona virus is vital to the recovery of his country's economy and that a new stimulus is being adopted during July. He added that the Federal Committee intends to provide more information about the lending program and extend it by the end of this week.

This was with Powell touched on Tuesday that the Federal Reserve has concerns about China's commitment to the partial trade agreement reached by Washington with Beijing earlier this year, while expressing that it may abide by it, explaining that the United States lost its confidence in China because of the lack of transparency about the Corona virus, and came This is with Treasury Secretary Manuchin also emphasizing before Congress to work to expand stimulus during July.

It is noteworthy that the US Congress has allocated $ 3 trillion so far as financial stimulus that included direct financial distributions for families and plans to exempt from small business loans, while the Federal Reserve has implemented cash stimulus programs exceeding $ 1 trillion to support the credit market for families and companies, the last of which was the launch of the Federal Reserve last week for a program that provides a package Loans worth $ 600 billion for businesses that employ around 15,000 people or whose returns exceed $ 5 billion.

Technical analysis

The dollar versus yen made a strong breach of the level of 107.68 and closed the daily candle above it, to activate the bullish trend scenario over the intraday basis, on its way to head towards 109.22 areas mainly.

Therefore, the bullish bias will be expected during the upcoming sessions, noting that the price starts today with a noticeable negativity to test the aforementioned support, as the price needs to hold above this level to keep the positive scenario effective.

The expected trading range for today is between 107.00 support and 108.50 resistance

Expected trend for today: bullish

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session near its highest in nine years, disregarding the rise of the US dollar index according to the inverse relationship between them on the threshold of developments and economic data expected on Wednesday by the US economy, the largest economy in the world, which includes detection The minutes of the Federal Open Market Committee meeting.

At exactly 04:51 AM GMT, gold futures contracts for next August delivery rose 0.13% to trade at $ 1,801.20 per ounce compared to the opening at $ 1,798.90 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded trading Yesterday at $ 1,800.50 an ounce, while the US dollar index rose 0.02% to 97.41 compared to the opening at 97.39.

Investors are currently awaiting by the American economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect about 2,850 thousand added jobs compared to the loss of 2,760 thousand jobs in May, and that comes hours before the disclosure after Friday On the monthly report of jobs except agricultural and unemployment rates in addition to the hourly rate for the month of June.

This comes before we witness the disclosure of the final reading of the manufacturing PMI by Markit for the United States, which may reflect the stability of the contraction at a value of 49.6, little changed from the initial reading for the past month and against a contraction at 39.8 in May, before we witness the release of The construction spending index, which shows a 1.0% increase compared to a 2.9% decline in last April.

Up to the disclosure by the largest industrial country in the world of the reading of the Institute of Industrial Supply index, which may show contraction shrinkage to 49.5 compared to 43.1 in May, as the reading of the Institute of Industrial Supply measured in prices may indicate shrinkage of deflation to 43.8 compared to 40.8 , And we would like to point out, because the reading reading at a value of 50 or higher reflects an amplitude, while its reading under 50 indicates a contraction.

This comes before the Federal Reserve revealed the minutes of the Federal Open Market Committee meeting that took place on 9-10 June, through which it decided to fix interest on federal funds at zero levels between zero and 0.25%, which came in line with expectations at the time. And, with the disclosure also at the time of the expectations of the members of the Committee of the rates of growth, inflation and unemployment in addition to the future interest rates for the next three years.

We would like to point out, because the expectations of the members of the Federal Committee included at that time that short-term benchmark interest rates will remain at their zero levels until 2022 and that the American economy may shrink 6.5% during 2020 and that unemployment rates may reach 9.3% by the end of this year 2020, before It declined to 6.5% in 2021 and to 5.5% in 2022.

It is noteworthy that the Federal Reserve Governor Jerome Powell stressed in the press conference held after the meeting the commitment of the Federal Reserve to use all tools to support the American economy in light of the current challenges to achieve the goal of inflation and price stability and access to optimal exploitation of the labor market, explaining that the Corona virus caused health damage And expanded economics in America and abroad.

Powell noted at the time that the coronavirus and the measures that were adopted to limit its spread and specifically the closure of economies, had a negative impact on economic activity and led to high unemployment, with his discussion that weak domestic demand and lower oil prices have a negative impact on inflation, adding that the continuation of the current crisis will harm the activity More economic and employment in addition to inflation in the short term and will reflect negatively on the economic outlook for the medium term.

Powell also reported at the time that he "does not even think about thinking about raising interest rates", as he touched on the fact that the financial conditions have improved to reflect the positive actions taken to support the American economy, and it is reported that the Federal Committee recently adopted many stimulus programs until the economy showed signs of recovery On top of it is the Treasury bond purchase program, at $ 80 billion per month, and mortgage bonds, at least $ 40 per month.

In another context, yesterday we followed the testimony of the Federal Reserve Governor Powell and the US Treasury Secretary Stephen Manuchin before the House Financial Services Committee, through which Powell stated that controlling the Corona virus is vital to the recovery of his country's economy and that a new stimulus is being adopted during July. He added that the Federal Committee intends to provide more information about the lending program and extend it by the end of this week.

And that with Powell touching on Tuesday that the Federal Reserve has concerns about China's commitment to the partial trade agreement that Washington reached with Beijing early this year, while expressing that it might abide by it, stating that the United States lost its confidence in China due to the lack of transparency about the Corona virus, and came This is with the confirmation of Minister of the Treasury Manoucheen also before Congress to work on expanding the stimulus during July.

It is noteworthy that Federal Reserve Secretary Powell stressed last Monday that the expectations about the American economy are "unconventionally uncertain", expressing that the adoption of more monetary stimulus may be necessary, and this came in the wake of Powell reported last week during his testimony also before the Congress that there is a case of Uncertainty about the timing and strength of the potential economic recovery and that the current downturn may lead to widening inequality within his country if the matter is not contained.

Technical analysis

Gold price resumed its positive trading to approach our first awaited target at 1795.00, and it is moving inside the bullish channels that appear in the picture, which supports chances of continuing the rise to head towards 1850.00 areas as the next main station.

Thus, the bullish trend scenario will remain valid and active for the upcoming period, supported by the EMA50, noting that the continuation of the bullish wave requires stability above 1762.00 and the most important above 1741.50.

The expected trading range for today is between 1770.00 support and 1810.00 resistance

Expected trend for today: bullish

The single currency fluctuated the euro in a narrow range slanting back down during the Asian session against the US dollar on the cusp of developments and economic data expected today by the economies of the euro area and the US economy, the largest economy in the world, which includes the disclosure of the minutes of the Federal Committee for the Open Market and in the wake of the testimony of the Governor Federal Reserve Jerome Powell in front of Congress.

At 05:33 am GMT, the euro against the US dollar fell 0.12% to 1.1221 levels, compared to the opening levels at 1.1234 after the pair achieved its lowest level during the trading session at 1.1216, while it achieved the highest at 1.1241.

The markets are looking to the largest euro zone economies, Germany, to reveal the retail sales index reading, which may reflect a 3.5% increase compared to a 5.3% decline in last April, while the annual reading of the same indicator may show a decrease in the decline to 3.5% against 6.5%, before For Spain, the region's fourth largest economy, to see the Manufacturing PMI reading, which may reflect a contraction in contraction to 45.2 compared to 38.3 last May.

This comes before we witness about Italy, the third largest economy in the euro area, the disclosure of the manufacturing PMI reading, which may explain the contraction shrinking to 47.9 compared to 45.4 in May, and before the final reading of the industrial purchasing managers ’index for France, the second largest economy in the region, which may reflect The expansion stabilized at 52.1 versus a contraction at 40.6 in May.

Up to the final reading of the Manufacturing PMI for Germany and the economies of the eurozone as a whole, which may explain the stability of the contraction at 44.6 in Germany and 36.6 in May, and also the stability of the contraction at 46.9 in the region as a whole and compared to 39.4, and this comes in conjunction with the release of the reading of the unemployment change index for Germany Which may reflect a rise of about 120 thousand compared to a rise of 238 thousand in May.

On the other hand, investors are currently watching by the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect about 2,850 thousand added jobs compared to the loss of 2,760 thousand jobs in May, and this comes hours before the disclosure After tomorrow, Friday, the monthly report for jobs except agricultural and unemployment rates in addition to the hourly rate for the month of June.

This comes before we witness the disclosure of the final reading of the manufacturing PMI by Markit for the United States, which may reflect the stability of the contraction at a value of 49.6, little changed from the initial reading for the past month and against a contraction at 39.8 in May, before we witness the release of The construction spending index, which shows a 1.0% increase compared to a 2.9% decline in April.

Up to the disclosure by the largest industrial country in the world of the reading of the Institute of Industrial Supply index, which may show contraction shrinkage to 49.5 compared to 43.1 in May, as the reading of the Institute of Industrial Supply measured in prices may indicate shrinkage of deflation to 43.8 compared to 40.8 , And we would like to point out, because the reading reading at a value of 50 or higher reflects an amplitude, while its reading under 50 indicates a contraction.

This comes before the Federal Reserve revealed the minutes of the Federal Open Market Committee meeting that took place on 9-10 June, through which it decided to fix interest on federal funds at zero levels between zero and 0.25%, which came in line with expectations at the time. And, with the disclosure also at the time of the expectations of the members of the Committee of the rates of growth, inflation and unemployment in addition to the future interest rates for the next three years.

We would like to point out, because the expectations of the members of the Federal Committee included at that time that short-term benchmark interest rates will remain at their zero levels until 2022 and that the American economy may shrink 6.5% during 2020 and that unemployment rates may reach 9.3% by the end of this year 2020, before It declined to 6.5% in 2021 and to 5.5% in 2022.

In another context, yesterday we followed the testimony of the Federal Reserve Governor Powell and the US Treasury Secretary Stephen Manuchin before the House Financial Services Committee, through which Powell stated that controlling the Corona virus is vital to the recovery of his country's economy and that a new stimulus is being adopted during July. He added that the Federal Committee intends to provide more information about the lending program and extend it by the end of this week.

This was with Powell touched on Tuesday that the Federal Reserve has concerns about China's commitment to the partial trade agreement reached by Washington with Beijing earlier this year, while expressing that it may abide by it, explaining that the United States lost its confidence in China because of the lack of transparency about the Corona virus, and came This is with Treasury Secretary Manuchin also emphasizing before Congress to work to expand stimulus during July.

It is noteworthy that the US Congress has allocated $ 3 trillion so far as financial stimulus that included direct financial distributions for families and plans to exempt from small business loans, while the Federal Reserve has implemented cash stimulus programs exceeding $ 1 trillion to support the credit market for families and companies, the last of which was the launch of the Federal Reserve last week for a program that provides a package Loans worth $ 600 billion for businesses that employ around 15,000 people or whose returns exceed $ 5 billion.

Technical analysis

The euro versus the dollar fluctuates in a sideways path, sandwiched between the support 1.1175 and the resistance 1.1270, and the price needs to overcome one of these levels to clearly define its next targets.

Therefore, the sideways slope will be likely until we get a clearer signal for the next direction, noting that breaking the mentioned support will pressure the price to make more bearish correction and achieving negative targets that start at 1.1100 then 1.1020, while breaching the resistance will lead the price to resume the main bullish trend that targets areas 1.1420 tentatively.

The expected trading range for today is between 1.1140 support and 1.1340 resistance

Expected trend for today: sideways

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session against the US dollar, following the developments and economic data that it had reported on the Australian economy and on the cusp of developments and economic data expected on Wednesday by the US economy, which includes the disclosure of the minutes of the Federal Open Market Committee meeting and in the wake of the governor’s testimony Federal Reserve Jerome Powell in front of Congress.

At exactly 03:43 am GMT, the Australian dollar pair rose against the US dollar by 0.05% to 0.6905 levels compared to the opening levels at 0.6903, after the pair achieved its highest level during the trading session at 0.6917, while the pair achieved its lowest at 0.6894.

On the Australian economy, we have followed the disclosure of the AIG manufacturing reading, which indicated a widening of 51.5 versus a contraction of 41.6 last May, and this came before we witnessed the disclosure of housing market data with the release of permits Construction, which indicated the decline of 16.4% compared to 2.1% last May, is worse than expectations, which indicated a decline of 7.0%.

On the other hand, investors are currently watching by the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect about 2,850 thousand added jobs compared to the loss of 2,760 thousand jobs in May, and this comes hours before the disclosure After tomorrow, Friday, the monthly report for jobs except agricultural and unemployment rates in addition to the hourly rate for the month of June.

This comes before we witness the disclosure of the final reading of the manufacturing PMI by Markit for the United States, which may reflect the stability of the contraction at a value of 49.6, little changed from the initial reading for the past month and against a contraction at 39.8 in May, before we witness the release of The construction spending index, which shows a 1.0% increase compared to a 2.9% decline in last April.

Up to the disclosure by the largest industrial country in the world of the reading of the Institute of Industrial Supply index, which may show contraction shrinkage to 49.5 compared to 43.1 in May, as the reading of the Institute of Industrial Supply measured in prices may indicate shrinkage of deflation to 43.8 compared to 40.8 , And we would like to point out, because the reading reading at a value of 50 or higher reflects an amplitude, while its reading under 50 indicates a contraction.

This comes before the Federal Reserve revealed the minutes of the Federal Open Market Committee meeting that took place on 9-10 June, through which it decided to fix interest on federal funds at zero levels between zero and 0.25%, which came in line with expectations at the time. And, with the disclosure also at the time of the expectations of the members of the Committee of the rates of growth, inflation and unemployment in addition to the future interest rates for the next three years.

We would like to point out, because the expectations of the members of the Federal Committee included at that time that short-term benchmark interest rates will remain at their zero levels until 2022 and that the American economy may shrink 6.5% during 2020 and that unemployment rates may reach 9.3% by the end of this year 2020, before It declined to 6.5% in 2021 and to 5.5% in 2022.

In another context, yesterday we followed the testimony of the Federal Reserve Governor Powell and the US Treasury Secretary Stephen Manuchin before the House Financial Services Committee, through which Powell stated that controlling the Corona virus is vital to the recovery of his country's economy and that a new stimulus is being adopted during July. He added that the Federal Committee intends to provide more information about the lending program and extend it by the end of this week.

This was with Powell touched on Tuesday that the Federal Reserve has concerns about China's commitment to the partial trade agreement reached by Washington with Beijing earlier this year, while expressing that it may abide by it, explaining that the United States lost its confidence in China because of the lack of transparency about the Corona virus, and came This is with Treasury Secretary Manuchin also emphasizing before Congress to work to expand stimulus during July.

It is noteworthy that the US Congress has allocated $ 3 trillion so far as financial stimulus that included direct financial distributions for families and plans to exempt from small business loans, while the Federal Reserve has implemented cash stimulus programs exceeding $ 1 trillion to support the credit market for families and companies, the last of which was the launch of the Federal Reserve last week for a program that provides a package Loans worth $ 600 billion for businesses that employ around 15,000 people or whose returns exceed $ 5 billion.

Technical analysis

The Australian dollar versus the US dollar pair shows an upward slope since yesterday, and we notice that the price is confined within a symmetrical triangle pattern whose features appear in the image, which provides signals on the price trend to resume the main bullish trend, especially after crossing the 0.6900 barrier, and the price needs to penetrate 0.6915 to activate the positive effect of the model Mentioned and then the rush to visit the 0.7064 level as the next major positive target.

From here, we expect a more bullish bias in the upcoming sessions, taking into consideration that breaking 0.6840 will stop the suggested rise and press the price to head towards 0.6700 directly.

The expected trading range for today is between 0.6840 support and 0.7000 resistance

Expected trend for today: bullish

USDCAD

The pair continues to consolidate amid the flat trend in the crude oil market triggered by the uncertainty surrounding the coronavirus pandemic, as well as by the demand for crude oil and the pace of global economic recovery associated with it.

Technical side:

The price is on the lower Bollinger band, below SMA 5 and SMA 14. RSI is below 50% and is indicating the likelihood of further decline. Stoch are in the oversold zone and are uninformative.

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

Trading recommendations:

If the pair goes below 1.3560, it will be likely to continue further down to 1.3480.