Analytic reviews

The fluctuation of the US dollar in a narrow range tilted to the upside during the Asian session to witness its bounce to the second session from the lowest since May 7 against the Japanese yen after 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 US economy The largest economy in the world.
 
At exactly 6:20 am GMT, the US dollar pair rose against the Japanese yen by 0.07% to 106.59 levels compared to the opening levels at 106.52 after the pair achieved its highest level during the trading session at 106.64, while achieving the lowest at 106.39.
 
We have followed the Japanese economy on the disclosure of inflation data with the release of the annual reading of the services price index, which showed the stability of the pace of growth during May at 0.8%, little changed from what it was in the previous annual reading last April, in line with expectations, This came in conjunction with the Bank of Japan unveiling the summary opinion report.
 
On the other hand, investors are currently awaiting by the US economy the disclosure of housing market data with the release of the housing price index, which may explain the acceleration of growth to 0.3% compared to 0.1% last March. Otherwise, we followed yesterday, US President Donald Trump expressed in Tweeting him on his official Twitter account, the number of Coronavirus infections is high in his country due to the increased number of tests conducted by the US government.
 
In the same context, US President Trump added that if the number of tests is reduced, the number of coronavirus infections will decrease significantly, and he states that he had previously suggested that the Corona pandemic crisis in the United States was coming to an end, also expressing at the time that the detection of corona testing was exaggerated. And increased the number of cases infected with this dangerous virus.
 
We would like to point out that the White House health advisor, Dr. Anthony Fossey, expressed yesterday, during his testimony in a hearing before the House of Energy and Trade Committee, that he was "very concerned" about the high incidence of Coronavirus infections in America that "reflects the increasing prevalence in society", warning of the virus Corona does not take a summer vacation, however, he noted that countries with a high incidence of coronavirus outbreaks may not need "complete closure".
 
In another context, US President Trump also expressed via Twitter earlier this week that "the Chinese trade deal is completely sound. We hope that they will continue to abide by the terms of the agreement!", Which confirmed that the first stage of the trade deal reached earlier this year. Between the two largest economic and industrial countries in the world are still standing, which reflects, in one way or another, the escalation that led to an escalation between Washington and Beijing recently.

Technical analysis

  
The dollar against the yen succeeded in achieving our first expected target at 106.44 and settling around it, where he made an attempt to break it without being able to stabilize without him until now, noting that SMA 50 constitutes a negative pressure against the price, waiting for the price to be stimulated to break the mentioned level and confirm the descending wave extension To reach 105.20 as next stop.
 
Consequently, we continue to favor the bearish trend for the upcoming period, noting that failure to achieve the required break will lead the price to start recovery attempts targeting mainly the 107.68 level.
 
The expected trading range for today is between 105.60 support and 107.10 resistance
 
Expected trend for today: bearish
 

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session to witness the highest since October 9, 2012 amid the US dollar index rebound for the third consecutive session from the highest since June 2, according to the reverse relationship between them on the cusp of developments The economic data expected today by the US economy, the largest economy in the world.
 
At exactly 04:13 AM GMT, gold price futures for next August delivery rose 0.03% to trade at $ 1,784.90 per ounce compared to the opening at $ 1,784.40 per ounce, knowing that the contracts started the trading session on an upward price gap after it concluded trading Yesterday at $ 1,782.00 an ounce, with the US dollar index down 0.01% to 96.64 compared to the opening at 96.65.
 
Investors are currently awaiting the release of the housing market data by the US economy with the release of the housing price index, which may explain the acceleration of growth to 0.3% compared to 0.1% last March. Otherwise, we followed yesterday, US President Donald Trump expressed his tweet via His official account on Twitter that the number of coronavirus infections is high in his country due to the increased number of tests conducted by the US government.
 
In the same context, US President Trump added that if the number of tests is reduced, the number of coronavirus infections will decrease significantly, and he states that he had previously suggested that the Corona pandemic crisis in the United States was coming to an end, also expressing at the time that the detection of corona testing was exaggerated. And increased the number of cases infected with this dangerous virus.
 
We would like to point out that the White House health advisor, Dr. Anthony Fossey, expressed yesterday, during his testimony in a hearing before the House of Energy and Trade Committee, that he was "very concerned" about the high incidence of Coronavirus infections in America that "reflects the increasing prevalence in society", warning of the virus Corona does not take a summer vacation, however, he noted that countries with a high incidence of coronavirus outbreaks may not need "complete closure".
 
In another context, US President Trump also expressed via Twitter earlier this week that "the Chinese trade deal is completely sound. We hope that they will continue to abide by the terms of the agreement!", Which confirmed that the first stage of the trade deal reached earlier this year. Between the two largest economic countries in the world is still standing, which reflects in one way or another the disappearance that led to the escalation between Washington and Beijing recently.

Technical analysis

  
Gold price succeeded in breaking through the level of 1765.00 and closing the daily candle above it, which supports our expectations to continue the bullish trend during the coming period, paving the way for heading towards our next positive targets that start at 1800.00 and extend to 1840.00.
 
Upward channels are organizing the suggested bullish wave, and SMA 50 provides continuous positive support for the price to reinforce expectations to continue rising, noting that the continuation of the bullish wave requires stability above 1738.00 and most importantly above 1723.00.
 
The expected trading range for today is between 1755.00 support and 1800.00 resistance
 
Expected trend for today: bullish
 

 
 
The Australian dollar pair against the US dollar conducted a retest of the broken support of the main bullish channel and maintains its stability below it until now, accompanied by the emergence of continuous negative signs through the stochastic, waiting for the price to stimulate the resumption of the expected bearish direction for the coming period, which mainly targets the 0.6700 level.
 
Henceforth, a negative scenario will prevail for today unless the 0.6990 level is breached and stability above it is established.
 
The expected trading range for today is between 0.6860 support and 0.7000 resistance
 
Expected trend for today: bearish
 

#VTB

The stock is trading in the range of the lower border of the ascending price channel. Stochastic Oscillator indicator signals oversoldness. The price pivot zone of 0.0359 is holding back the bulls. 

Trading recommendations:

Buy above the price pivot zone of 0.0359.

Stop Loss: 0.0352.

Target levels: 0.0374; 0.0396.

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

EURJPY

The uptrend changed to a downtrend and the 135 moving average crossed the 365 EMA from top to bottom. Currently, the currency pair is trading in the range of moving averages. A break of 120.24 will result in the formation of a descending wave pattern within the wave (C) of the assumed descending pattern of the H12 level. 

Trading recommendations:

Sell strictly below 120.24, while a descending wave pattern is forming.

Stop Loss: 121.08.

Target levels: 119.33; 118.10.

If the pair returns to the resistance level of 121.08,  cancel the trading plan (it’s necessary to rebuild it using a new design).

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

#AXP

The overall trend is upward. The 98.00 support level is holding back sellers. A descending truncated pattern of the H1 level has formed. Awesome Oscillator indicator shows a bullish divergence, while Stochastic Oscillator indicator signals oversoldness. 

Trading recommendations:

Buy while an ascending wave pattern is forming, where the wave (A) breaks through the inclined channel of the descending truncated pattern of the H1 level.

Stop loss: 98.00.

Target levels: 108.00; 113.50.

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

EURUSD

The pair receives support amid the rising demand for risky assets after a statement by Donald Trump’s trade adviser Peter Navarro, who said on Tuesday that the US is not ending trade relations with China. This positive signal can be supported by the pair along with the data on business activity indices published today in the manufacturing and non-manufacturing sectors of Germany and the eurozone, if they turn out to be no worse than expected.

Technical side:

The price is above the middle Bollinger band, at SMA 50 and above SMA 14. RSI is above the 50% level and moves horizontally. Stoch indicate a weakening of the price growth.

Trading recommendations:

The growth of the pair above the level of 1.1280 may lead to its further growth to 1.1350.

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

USDSEK

The currency pair is trading in the upper line of the descending price channel. A bearish divergence has formed on Awesome Oscillator indicator, and Stochastic Oscillator indicator signals overboughtness. A breakout of 9.3430 will result in the formation of a descending wave pattern within the overall downtrend.

Trading recommendations:

Sell below 9.3430.

Stop loss: 9.4766.

Target levels: 9.2400; 9.1500.

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