Analytic reviews

The fluctuation of the US dollar in a narrow range slanted toward decline during the Asian session, to witness its bounce to the seventh session in ten sessions from the top since March 26 against the Japanese yen amid the scarcity of economic data by the Japanese economy and on the cusp of developments and economic data expected on Thursday by the economy The American is the largest economy in the world.
At exactly 05:51 am GMT, the US dollar pair fell against the Japanese yen by 0.16% to 106.84 levels compared to the opening levels at 107.01 after the pair achieved its lowest level during the trading session at 106.70, while achieving the highest at 107.05.
Investors are looking to the US economy for the issuance of the aid claims index for the week that elapsed on June 12, which may reflect a decline of 342 thousand applications to 1,300 thousand applications compared to 1,542 thousand requests in the previous reading, as the reading of the continuous subsidy applications for the past week may also appear in The fifth of this month, down by 1,129 thousand requests to 19,800 thousand requests, compared to 20,929 thousand requests.
This comes in conjunction with the disclosure by the largest industrialized country in the world of industrial sector data with the release of the Philadelphia Industrial Index reading, which may reflect the contraction in contraction to 23.0 compared to 43.1 last May, and before we also witnessed by the American economy the reading of indicators The leader, which may reflect a rise of 2.4%, compared to a decline of 4.4% last March.
To the talk of the President of the Cleveland Bank and the Federal Open Market Committee member Loretta Mester about the response of the Federal Reserve to the Corona pandemic in an event hosted by the World Takaful Center, and this comes hours after the activities of the semi-annual certification of the Governor of the Federal Reserve Jerome Powell about the monetary policy in front of Congress American.
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 "
Powell said earlier this week that it is unlikely that we will fully recover the largest economy in the world before restoring economic confidence, with his consideration of the fact that the epidemic has a greater impact on people with low incomes, while addressing the fact that the difference in high unemployment is now in 2008, that At that time, there were no jobs, while the current situation is the result of business closings and that with its return people return to their jobs.
 
Powell stressed that the Federal Reserve is ready to provide more stimulus if the need arises and that the Federal Open Market Committee will do everything in its power to support the American economy, and that he touched on the fact that the Federal Reserve works to ensure the effectiveness of protection and safety systems before working to issue a digital dollar , Adding that if it turns out that the digital currency will be beneficial to the American economy, then the Federal Reserve will work to issue it.

Technical analysis
 
The dollar versus the yen resumed its negative trading significantly, to approach our awaited target at 106.44, and the price falls under continuous negative pressure coming from the EMA50, to support the chances of breaking the aforementioned level and opening the way for the descending wave to extend in the short term, noting that the next target reaches To 105.20.
 
From here, we expect the bearish direction to prevail in the upcoming sessions unless the price rushes to breach the 107.68 level and hold above it.
 
The expected trading range for today is between 106.00 support and 107.50 resistance
 
Expected trend for today: bearish
 

Apple shares return to rise and test the resistance and the historical summit 353.88 after bouncing back at the beginning of the week's trading.

The price is right now, handing over the moving averages 7-20-50 is trading in a bullish path, which is a signal to return to the upside again after the bearish correction that started at the end of the week.

The stochastic oscillator supports the price for more gains after it formed a cross between its steps and started going up

If the support level holds, we will see a corrective rebound to the price, which will extend to the average level of 20 at the value of 328.34, which is the first level of support for the price.

The general trend is to the upside, subject to penetration of the resistance level.

 #T

American stock market recovers after dramatic fall caused by pandemic. 

Awesome Oscillator indicates formations of bullish divergence, and Stochastic Oscillator signals oversoldness. Completion of the alleged wave (B) by breaking through the inclined channel and formation of the ascending pattern will result in further raise in frame of the wave (С) of the ascending pattern. 

#T rate online: monitor the rate changes in the real time.

Trading recommendations: 

Buy while an  ascending wave pattern is forming, where the wave (A) breaks through the red inclined channel. 

Stop loss: 29.55

AUDUSD

The support level at 0,6834 holds back sellers. Descending truncated pattern of the М30 level has been formed. Awesome Oscillator indicates Bullish divergence, and Stochastic Oscillator shows crossover of moving averages in the range of oversoldness. 

Trading recommendations: 

Buy while an ascending wave pattern is forming, where the wave (aC) breaks through the inclined channel of the M30 descending truncated pattern. 

Stop loss: 0.6834.

Target levels: 0.6976 (expert trap); 0.7051 (level 138.2%F. from alleged А Н1).

The pair is consolidating in the range 1.249 - 1.279 in expectation of the Bank of England meeting on monetary policy. It is supposed that the regulator will remain the rates and incentives unchanged. 

Technical side: 

The price is under the middle Bollinger band and SMA 14, above SМА 50. RSI is under 50% and starts moving up. Stoch are above 50% and signal reinforcement of the price raise. 

Trading recommendations: 

Buy the pair from the lower bound of the range with a local target at 1.2790.

GBPUSD online: monitor GBPUSD price changes in real time.

 
The Australian dollar pair against the US dollar traded negatively yesterday to test the support of the main bullish channel that appears in the picture, and is making new attempts to break it now, noting that the stochastic indicator is nearing the oversold areas in the sale, waiting for the price stimulus to resume the expected bullish direction for the next period, which exists His next target is at 0.7000.
 
Therefore, we will maintain our bullish expectations unless the price closes the daily candle below 0.6860, which will lead the price to start a bearish correction for the upside wave that started from 0.5510 and stopped at 0.7064.
 
The expected trading range for today is between 0.6800 support and 0.6950 resistance
 
Expected trend for today: bullish
 

Cisco stock continues to rise. As the price moves within the ascending channel on an upward path, after it tested the support of the killers, reaching level of 43.88.
In two cases, the price faces resistance at 46.89.
In general, the price movement above the moving averages 7-20-50 consecutive bug, which constitutes support for the price to rise and test the next resistance level.
The stochastic oscillator is exiting the oversold zone on an upward path indicating the upward path thus constituting a positive factor pushing the price up.
Targets for the upcoming period 46.89-49.05-51.20
 

 The single currency fluctuated the euro in a narrow range tilted upward to witness its bounce for the second session in four sessions from the lowest since June 4 against the US dollar on the threshold of developments and economic data expected today by the economies of the euro area and the US economy, which includes the second half of the certificate Federal Reserve Governor Jerome Powell's semiannual meeting of Congress on monetary policy.
 
At 05:25 am GMT, the euro pair rose against the US dollar by 0.07% to 1.1272 levels, compared to the opening levels at 1.1264 after the pair achieved its highest level during the trading session at 1.1279, while achieving the lowest at 1.1254.
 
Markets are being watched by the economies of the eurozone as a whole to reveal inflation data with the release of the annual final reading of the CPI, which may confirm 0.1% growth, little changed from the initial reading of the previous month and 0.3% growth last April, as the reading may confirm The substantial annual index for the same index also grew by 0.9%, little changed from the initial reading and without change from the previous annual reading for the month of April.
 
On the other hand, investors are currently awaiting the release of the housing market data by the US economy, with the release of both the beginning construction index and the building permit index, and amid expectations that building permits will reflect a rise to about 1.23 million permits compared to about 1.07 million permits in April. The readings for home construction may also reflect an increase to about 1.10 million homes compared to about 0.89 million homes in April.
 
This comes before we witness the second and last half of Federal Reserve Governor Jerome Powell's testimony about monetary policy before the US Congress, as Powell will today testify about the Federal Reserve’s monetary policy half-yearly report to the House of Representatives Financial Services Committee in Washington via satellite .
 
We would like to point out that the Federal Reserve Governor Powell made yesterday his prepared testimony regarding the semi-annual report of monetary policy before the Senate Banking Committee also via satellite, which he noted through that there is a state of uncertainty about the timing and strength of the potential economic recovery and that the current decline may lead to inequality Within the United States if the order is not contained.
 
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 Monday 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 against the dollar ended yesterday's trading below the 1.1270 level, which puts the price under the downward corrective pressure again, on its way to visit the 1.1175 level as a next negative station.
 
On the other hand, we notice that the price charts a bearish technical pattern, whose features appear in the image, to support the chances of making further bearish correction in the short term.
 
Therefore, a bearish bias will be favored for today unless the 1.1270 level is breached and stability above it again.
 
The expected trading range for today is between 1.1170 support and 1.1350 resistance
 
Expected trend for today: bearish
 

Gold prices fluctuated in a narrow range tilted towards the decline during the Asian session, while neglecting the negative stability of the US dollar index, according to the inverse relationship between them on the cusp of developments and economic data expected on Wednesday by the US economy, which includes the second half of the semi-annual testimony of the Governor of the Federal Reserve Jerome Powell in front of Congress on monetary policy and in light of investors' assessment of the IMF warnings and geopolitical tensions in Asia against the stimulus and positive experimental results of the Corona vaccine.
 
At exactly 04:40 am GMT, gold futures contracts for next August delivery fell 0.05% to trade at $ 1,734.50 per ounce compared to the opening at $ 1,735.30 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded trading Yesterday at $ 1,736.50 an ounce, while the US dollar index fell 0.04% to 96.97 compared to the opening at 97.01.
 
The markets are currently awaiting the release of the housing market data by the US economy, with the release of both the beginning construction index and the building permit index, and amid expectations that building permits will reflect a rise to about 1.23 million permits compared to about 1.07 million permits in April, as it may reflect Homebuilding reading increased to around 1.10 million homes compared to about 0.89 million homes in April.
 
This comes before we witness the second and last half of Federal Reserve Governor Jerome Powell's testimony about monetary policy before the US Congress, as Powell will today testify about the Federal Reserve’s monetary policy semi-annual report to the House of Representatives Financial Services Committee in Washington via satellite .
 
We would like to point out that the Federal Reserve Governor Powell made yesterday his prepared testimony regarding the semi-annual report of monetary policy before the Senate Banking Committee also via satellite, which he noted through that there is a state of uncertainty about the timing and strength of the potential economic recovery and that the current decline may lead to inequality Within the United States if the order is not contained.
 
 
Powell also stated that "until confidence returns that the Corona pandemic is under control, a full recovery will not be possible," explaining that "the downward curve continues, and with it the possibility of jobs will continue to be in danger of final loss and business closures," adding that it is unlikely that we will see a full recovery before Restoring economic confidence, while addressing the fact that the epidemic has a greater impact on people with lower incomes.
 
In the same vein, Powell noted that the difference in the rise in unemployment is now from 2008, that at that time there were no jobs, while the matter is now the result of business closures and that with their return, people return to their jobs, and in another context, investors are looking forward to the speech of the President of the Cleveland Bank and the Federal Reserve Board member Federal Open Marketplace Loretta Mester reported on the Federalist response to the Corona pandemic at a Satellite Economic Education Council event.
 
Technical analysis

 
The gold price did not show any strong movement yesterday, to continue to fluctuate around the intraday resistance line, and therefore, there is no change to the expected upside scenario in the intraday and short term, whose next main target is located at 1765.00, noting that a break of 1721.00 will put the price under negative pressure Intraday targeting the 1691.90 level before any new positive attempt.
 
The expected trading range for today is between 1710.00 support and 1760.00 resistance
 
Expected trend for today: bullish