Analytic reviews

The Australian dollar rose during the Asian session to witness its rebound from the lowest since June 15, when it tested the lowest since the second of this month against the US dollar after the developments and economic data that it had reported on the Australian economy, which included the speech of the Governor of the Federal Reserve Bank of Australia Philip Lowe and Ali The expected economic developments and data on Monday by the US economy, the largest economy in the world.

At exactly 02:59 AM GMT, the Australian dollar pair rose against the US dollar by 0.56% to 0.6852 levels compared to the opening levels at 0.6814, after the pair achieved its highest level during the trading session at 0.6854, while the pair achieved its lowest at 0.6805, with Knowing that the pair eased the trading session on a falling price gap after it concluded the trading last week at 0.6835 levels.

We have followed Australian Central Bank Governor Philip Lowe during his participation in a panel discussion about the Corona virus and global economy at the National Leadership Forum at the University of Crawford Australian, it is not surprising to see the Australian dollar where it is and that he wants to see it less, while telling him that it is likely to be Interest rates are at their current low levels for years, whatever the policy framework, amid its discussion that there is no point in having an unemployment goal like inflation, explaining that the job market is more complicated than the unemployment rate.

On the other hand, investors are currently awaiting by the US economy the release of the Chicago Business Index reading for the month of May, before the housing market data was also revealed for the past month with the release of the Existing Home Sales Index, which may reflect a 2.3% decline to about 4.15 million homes Against a decline of 17.8% at about 4.33 million homes in the previous reading last April.

Other than that, the World Health Organization announced on Sunday the largest increase in the number of coronavirus infections in one day, as the number of new cases reached 183 thousand cases infected with Corona virus in the previous 24 hours, with Brazil recording 54,771 cases and a difference of 18,154 cases from the United States Which came second from the recent number of new infections by 36,617 cases.

India recorded more than 15.4 thousand new cases infected with coronavirus in one day, and health experts requested that increase in the number of new cases infected with coronavirus because it could be due to several factors including that more tests were done as well as a wider spread of infection, according to the latest figures issued by the organization, the number of cases infected with the Coronavirus rose to nearly 8.71 million, and 461,715 people were killed in 216 countries.

Technical analysis

The Australian dollar versus the US dollar made negative trades in the previous sessions to settle below the EMA50, awaiting further decline to visit the 0.6700 level which represents our next negative target, relying on the recent break to support the bullish channel that appears in the picture.

On the other hand, it should be noted that breaching 0.6910 then 0.6940 levels will stop the suggested negative scenario and lead the price to restore the main bullish trend again.

The expected trading range for today is between 0.6780 support and 0.6910 resistance.

Expected trend for today: bearish.

The euro currency fluctuated in a narrow range tilted to the upside during the Asian session to witness its rebound from the lowest since June 3 against the US dollar on the cusp of developments and economic data expected on Monday by the economies of the euro area and the US economy the largest economy in the world and amid concern of A second wave of corona virus is spreading with the increase in the number of new infections.

At 05:26 am GMT, the euro pair rose against the US dollar by 0.10% to 1.1203 levels, compared to the opening levels at 1.1192 after the pair achieved its highest level during the trading session at 1.1205, while achieving the lowest in three weeks at 1.1169, Note that the pair eased the session on an upward price gap after the pair concluded the trading last week at 1.1178 levels.

The markets are looking to the German economy, the largest euro-zone economy, to disclose the monthly report of the German Central Bank, and that comes before we witness the preliminary reading of the consumer confidence index for the eurozone economies as a whole for the current month, which may reflect the contraction shrinkage to 15 versus 19 in the previous reading This past May.

On the other hand, investors are currently awaiting by the US economy the release of the Chicago Business Index reading for the month of May, before the housing market data was also revealed for the past month with the release of the Existing Home Sales Index, which may reflect a 2.3% decline to about 4.15 million homes Against a decline of 17.8% at about 4.33 million homes in the previous reading last April.

Other than that, the World Health Organization announced on Sunday the largest increase in the number of coronavirus infections in one day, as the number of new cases reached 183 thousand cases infected with Corona virus in the previous 24 hours, with Brazil recording 54,771 cases and a difference of 18,154 cases from the United States Which came second from the recent number of new infections by 36,617 cases.

India recorded more than 15.4 thousand new cases infected with coronavirus in one day, and health experts requested that increase in the number of new cases infected with coronavirus because it could be due to several factors including that more tests were done as well as a wider spread of infection, according to the latest figures Issued by the organization, the number of cases infected with the Corona virus rose to nearly 8.71 million, and 461,715 people were killed in 216 countries.

Technical analysis

The euro against the dollar succeeded in touching our first awaited target at 1.1175 and we notice that the price found strong support there, and was unable to break it after testing several times, to start the day with an upward slope and gradually move away from this level, which provides signals on the price trend to achieve instantaneous gains during the sessions Coming, mainly on his way to test the 1.1270 level.

Therefore, a bullish bias will be likely for today, noting that breaching the target level will lead the price to achieve more gains in the short term, while a break of 1.1175 is a negative factor that will pressure the price to make more bearish correction and head towards 1.1100 as a next negative station.

The expected trading range for today is between 1.1110 support and 1.1300 resistance.

Expected trend for today: bullish.

Gold prices fluctuated in a narrow range tilted to the upside during the Asian session to witness the highest since April 14, when I tested the highest for it since the ninth of October 2012 amid the decline in the US dollar index for the first time in five sessions, indicating its rebound from the top for him since June 2, according to the inverse relationship between them, on the cusp of developments and economic data expected today by the US economy, the largest economy in the world, and amid concern about the spread of a second wave of the Corona virus with the increase in the number of new infections.

At exactly 4:02 am GMT, gold futures contracts for next August delivery rose 0.13% to trade at $ 1,768.10 per ounce compared to the opening at $ 1,765.80 per ounce, knowing that the contracts started the session’s trading on an upward price gap after it concluded trading Last week at $ 1,753.00 an ounce, with the US dollar index down 0.04% to 97.57 compared to the opening at 97.61.

Investors are currently awaiting by the US economy the release of the Chicago Business Index reading for the month of May, before the housing market data was also revealed for the past month with the release of the Existing Home Sales Index, which may reflect a 2.3% decline to about 4.15 million homes compared to a decline by 17.8% at about 4.33 million homes in the previous reading for the month of April.

Other than that, the World Health Organization announced on Sunday the largest increase in the number of coronavirus infections in one day, as the number of new cases reached 183 thousand cases infected with Coronavirus in the previous 24 hours, with Brazil recording 54,771 cases and a difference of 18,154 cases from the United States Which came second from the recent number of new infections by 36,617 cases.

India recorded more than 15.4 thousand new cases infected with coronavirus in one day, and health experts requested that increase in the number of new cases infected with coronavirus because it could be due to several factors including that more tests were done as well as a wider spread of infection, according to the latest figures Issued by the organization, the number of cases infected with the Corona virus rose to nearly 8.71 million, and 461,715 people were killed in 216 countries.

In another context, the markets are looking to tomorrow, Wednesday, to unveil the International Monetary Fund about its latest expectations regarding the global economy, and that comes after we followed last week. Of what was estimated before, "explaining at the time that the current crisis called" the great closure "," is not like anything the world has seen before. "

Technical analysis

The gold price opened today's trading with a strong rise to approach our first waited target at 1765.00, reinforcing expectations for the continuation of the main bullish trend, waiting for the breach of this level to open the way for heading towards 1840.00 areas as the next major station.

Thus, we continue to favor the overall bullish trend that gets good support from the EMA50, noting that a break of 1725.00 will put the price under negative pressure targeting testing the pivotal support floor 1691.90 before any new attempt to rise.

The expected trading range for today is between 1737.00 support and 1775.00 resistance.

Expected trend for today: bullish.

The US dollar fluctuated in a narrow range slanting to the upside during the Asian session against the Japanese yen amid the scarcity of economic data earlier this week by the Japanese economy and on the cusp of developments and economic data expected on Monday by the US economy, the largest economy in the world and among investors' assessment of the possibility of a second wave outbreak Corona virus with the increase in the number of new infections.

At exactly 05:51 am GMT, the US dollar pair rose against the Japanese yen by 0.01% to 106.89 levels compared to the opening levels at 106.88 after the pair achieved its highest level during the trading session at 106.94, while achieving the lowest at 106.75, knowing, The pair eased the session session on an upward price gap after the pair concluded last week's trading at 106.87 levels.

Investors are currently awaiting by the US economy the release of the Chicago Business Index reading for the month of May, before the housing market data was also revealed for the past month with the release of the Existing Home Sales Index, which may reflect a 2.3% decline to about 4.15 million homes compared to a decline by 17.8% at about 4.33 million homes in the previous reading for the month of April.

Other than that, the World Health Organization announced on Sunday the largest increase in the number of coronavirus infections in one day, as the number of new cases reached 183 thousand cases infected with Corona virus in the previous 24 hours, with Brazil recording 54,771 cases and a difference of 18,154 cases from the United States Which came second from the recent number of new infections by 36,617 cases.

India recorded more than 15.4 thousand new cases infected with coronavirus in one day, and health experts requested that increase in the number of new cases infected with coronavirus because it could be due to several factors including that more tests were done as well as a wider spread of infection, according to the latest figures Issued by the organization, the number of cases infected with the Coronavirus rose to nearly 8.71 million, and 461,715 people were killed in 216 countries.

Technical analysis

The narrow range continues to dominate the trading of the dollar against the yen, and it falls under continuous negative pressure coming from the EMA50, which keeps the bearish trend scenario intact as it is unchanged, which aims to test the 106.44 level as a next station, noting that breaking this level will push the price To 105.20 as a next negative target, while stability below 107.68 is an important condition for the suggested decline to continue.

The expected trading range for today is between 106.00 support and 107.50 resistance

Expected trend for today: bearish

EURUSD

The pair is in a short-term downtrend amid the falling demand for risky assets as a result of the outbreak of the coronavirus pandemic in China and the extinct epidemic in the US. But today, it can recover due to the growth in the stock market in China and the same likely dynamics in the US as indicated by futures on US stock indexes.

Technical side:

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

Trading recommendations:

The growth of the pair above 1.1200 may lead to its local recovery to the 1.1240.

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

#GAZPROM

The support level of 191.60 is holding back sellers. Awesome Oscillator indicator shows a bullish divergence, while Stochastic Oscillator indicator shows the intersection of moving averages in the oversold zone. A breakout of 196.10 will result in the formation of an ascending 1-2-3 pattern.

Trading recommendations:

Buy above 196.10.

Stop loss: 191.60.

Target levels: 199.00; 206.20.

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

EURUSD
The overall trend is upward. The descending truncated pattern of the H2 level has formed in the wave (C), where the truncated pattern of the H1 level was also 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 at the local minimum: 1.167.
Target levels: 1.1347; 1.1400.
The EURUSD rate online: monitor the movement of the pair in real time.

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session, to prepare for the resumption of its weekly gains rallies that stopped last week for the first time in four weeks 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 Friday by the economy Which includes the speech of the members of the Federal Open Market Committee.
 
At exactly 03:19 am GMT, the Australian dollar pair rose against the US dollar by 0.13% to 0.6861 levels compared to the opening levels at 0.6852, after the pair achieved its highest level during the trading session at 0.6867, while the pair achieved its lowest at 0.6841.
 
We have followed the Australian economy to reveal the seasonally adjusted initial reading of the retail sales index, which reflected an increase of 16.3 compared to a decline of 17.7% last May, and this comes hours after labor market data showed high unemployment rates to the highest since October of the year 2001 to 7.1% over the past month, with the change in employment showing a decrease of 227.7k in May.
 
On the other hand, investors are currently awaiting by the US economy the release of the current account reading, which may reflect the deficit shrinkage to $ 101 billion compared to $ 110 billion during the past fourth quarter, before we witness the talk of the Deputy Governor of the Federal Reserve and a member of the Federal Open Market Committee Randall Quarles about bank solvency tests at the Women's Public Policy Event on Housing and Satellite Finance.
 
Up to the participation of Federal Reserve Governor Jerome Powell with the President of the Cleveland Bank and member of the Federal Open Market Committee Loretta Mester in a hypothetical discussion about building a flexible workforce during the era of Corona Virus at the Youngstown Community Event in Ohio, and this comes hours after the expiry of the certification activities The Governor Powell's semiannual about monetary policy in front of Congress.
 
We would like to point out, because Powell Naughty testified before the Congress that there is a state of uncertainty about the timing and strength of the potential economic recovery and that the current downturn may lead to widening inequality within America in the event that the matter is not contained, while touching that "until the confidence is restored that the Corona pandemic is under control." , A full recovery will not be possible "and that" the downward curve continues and with it the possibility of jobs falling under the risk of final loss and business closure "

Technical analysis
 

The Australian dollar pair against the US dollar ended yesterday's trading without the support of the bullish channel, to fall under expected negative pressure during the coming period, on its way to visit the 0.6700 level which represents the Fibonacci retracement level of 23.6% for the rise that was measured from 0.5509 to 0.7064.
 
Therefore, a bearish bias will be favored for today, noting that a breach of 0.6920 will stop the suggested negative scenario and lead the price to resume the main bullish trend again.
 
The expected trading range for today is between 0.6790 support and 0.6920 resistance
 
Expected trend for today: bearish