Analytic reviews

The single currency fluctuated the euro in a narrow range tilted to the upside during the Asian session to witness the resumption of its rebound from the lowest since June 3 against the US dollar on the threshold of developments and economic data expected Friday by the economies of the euro area and the US economy the largest economy in the world.
 
At exactly 05:09 am GMT, the euro pair rose against the US dollar by 0.06% to 1.1225 levels, compared to the opening levels at 1.1218 after the pair achieved its highest level during the trading session at 1.1226, while achieving the lowest at 1.1208.
 
The markets are looking for the largest euro area economies, Germany, the release of the import price index, which may reflect a 0.5% decrease compared to a 1.8% decline in last April, before we witness the eurozone economies as a whole the annual readings of the private loans index and the money supply index M-3, which showed accelerated growth to 3.3% and 8.6%, compared to 3.0% and 8.3% in the annual readings prior to April.
 
On the other hand, investors are currently awaiting by the US economy to disclose spending and personal income data, which may reflect a rise in personal spending 8.9% compared to a decline of 13.6% in April, while we may witness a decline in personal income to 6.0% against a rise of 10.5% in April / April, while a reading of the core personal consumption expenditures price index may show stability at zero levels versus a 0.4% decline in April.
 
Up to the disclosure of the final reading of the University of Michigan index of consumer confidence, which may show a widening of 79.1 compared to a widening of 78.9 in the first preliminary reading of the current month and a widening of 72.3 last May, with the release of consumer expectations for inflation June for one year and five years.

Technical analysis

  
The euro against the dollar pair shows sideways and narrow range trading since yesterday evening, to suspend between the support levels 1.1175 and the resistance 1.1270, noting that the moving average 50 constitutes a negative pressure against the price to support the chances of further bearish correction, while the stochastic indicator provides positive signals that may contribute to pushing Price to recover.
 
Consequently, this conflict between technical factors makes us prefer stopping on neutrality until the price confirms one of the above mentioned levels, noting that breaking the support will pressure the price to go towards 1.1100 then 1.1020 levels as next corrective targets, while breaching the resistance will lead the price to resume the main trend The bullish, whose next target is at 1.1420.
 
The expected trading range for today is between 1.1120 support and 1.1320 resistance
 
Expected trend for today: It depends on the levels mentioned in the report
 

The Australian dollar fluctuated in a narrow range tilted towards the decline during the Asian session, while it is still in the process of the first weekly gains in three weeks against the US dollar amid the scarcity of economic data in the last sessions of the week by the Australian economy and on the cusp of developments and economic data expected on Friday by the largest American economy Economy of the world.
 
At exactly 02:34 AM GMT, the Australian dollar versus the US dollar fell 0.07% to 0.6882 levels compared to the opening levels at 0.6887, after the pair achieved its lowest level during the trading session at 0.6862, while the pair achieved its highest at 0.6895.
 
Investors are currently awaiting by the US economy the disclosure of personal spending and income data, which may reflect a rise in personal spending 8.9% compared to a decline of 13.6% last April, while we may witness a decline in personal income to 6.0% compared to a rise in 10.5% in April, While a reading of the core personal consumption expenditures price index may show stability at zero levels versus a 0.4% decline in April.
 
Up to the disclosure of the final reading of the University of Michigan index of consumer confidence, which may show a widening of 79.1 compared to a widening of 78.9 in the first preliminary reading of the current month and a widening of 72.3 last May, with the release of consumer expectations for inflation June for one year and five years.

Technical analysis

  
The Australian dollar versus the US dollar continues to fluctuate around the EMA50 and stands below it, noting that the stochastic indicator is losing its positive momentum to reach the overbought areas, which supports the chances of resuming the expected bearish direction for the coming period, which targets the 0.6700 level as the next main station.
 
Thus, we will continue to favor the bearish trend provided stability below 0.6900, as breaching this level is considered an important positive key that will lead the price to try to restore the main bullish trend and head towards 0.7064 areas initially.
 
The expected trading range for today is between 0.6800 support and 0.6950 resistance
 
Expected trend for today: bearish
 

GBPCAD 

The currency pair is trading in the upper bound of the main descending price channel and the lower bound of the internal ascending price channel. The price is also in the range of 365 and 135 moving averages directed downward. A breakthrough in the round secondary level of 1.6920 will result in a breakthrough in the internal ascending price channel. 

Trading recommendations:

Sell below 1.6920.

Stop loss: 1.6987.

Target levels: 1.6881; 1.6832; 1.6780.

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

USDCAD

The pair is in a narrow range of 1.3500-1.3665. It’s likely to decline today amid rising oil prices and improving market sentiment, which is reflected in increased demand for risky assets.

Technical side:

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is below the 50% level and indicates a weakening of the price growth. Stoch are declining.

Trading recommendations:

Expect further decline to 1.3500.

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

#NESN

The stock is trading in the range of the lower border of the ascending (green line) price channel and the upper border of the internal (red line) price channel. Stochastic Oscillator indicator signals oversoldness.

Trading recommendations:

Buy while an ascending 1-2-3 pattern if forming, where the first wave breaks through the upper border of the internal (red line) price channel. 

Stop loss: 103.90.

Target levels: 106.00; 108.23.

The #NESN rate online: monitor the movement of the shares in real time.

The Australian dollar versus the US dollar made a noticeable negative trading yesterday, moving above the MA and stabilizing below it, which supports expectations of achieving further decline during the upcoming sessions, pending the trend towards 0.6700 which represents our next main target.

Consequently, we will continue to favor the bearish trend over an intraday and short term, noting that a break of 0.6900 will push the price to start new recovery attempts and move towards testing 0.7010 areas then 0.7064 initially.

The expected trading range for today is between 0.6790 support and 0.6900 resistance.

Expected trend for today: bearish.

Cisco shares continue to provide noticeable negative trading beyond the moving average 20 and settle below it, which supports expectations of achieving a further decline in the upcoming sessions, provided that the average breach of 50, which complaints about a support level for the price, is awaiting the direction towards 43.47, which represents our next target.

Consequently, we will continue to favor the bearish trend on the intraday and short term if the price manages to break the support at 44.99 and the average level 50 will continue the negative pressure on the price to reach the level of 39.30.

The expected trading range for today is between 41.36 support and 48.26 resistance.

Expected trend for today: bearish.