Analytic reviews

The pair price is correcting down amid the US Fed’s decision on Monday to expand its support of the national economy. It is one more important reason for the weaker US dollar. Also, the pair may go down if oil prices don’t turn down. 

Technical side:

The price is under the middle Bollinger band, SМА 5, and SMA 14. Crossing movings give a sell signal. RSI is under the 50% and keeps going down. 

Trading recommendations: 

Decline under 1.3520 will lead to further decline to 1.3350.

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

The correction on global markets supported by anticipation of the second COVID-19 wave, as well as slower growth forecast for the US economy, exerts pressure on higher-yield currencies including Australian dollar. Such sentiments will result in the pair’s decline.

Technical side:

The price is under the middle Bollinger band, SМА 5, and SMA 14.RSI is under the level of  50% and is moving horizontally. Stoch goes to the range of oversoldness. 

Trading recommendations:

Decline to 0.6715 is highly possible after exceeding 0.6800. 

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

#NESN

There has been a price correction on stock market. The descending H1 level patter has formed. The moving averages of Stochastic Oscillator are in the oversold zone. Buy only when the descending wave pattern is over and the ascending wave is formed. 

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

Trading recommendations:

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

Stop loss below the local minimum 102.60.

Target levels: 106.00; 108.23.

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

The overall trend is upward. The currency pair is trading in the range of the round important level 0.6394 and in the range of 365 and 135 moving averages. The descending H2 level pattern is truncated. A bullish divergence has formed on Awesome Oscillator.

Trading recommendations:

Buy above 0.6456.

A stop loss of 0.6394.

Target level: 0.6570.

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

The Australian dollar fell during the Asian session to witness its bounce for the second session from the top since July 19, when it tested the highest for it since April 24, 2019, against the US dollar after the developments and economic data that it had reported on the Australian economy and on the eve of developments and economic data expected Today, Thursday by the US economy the largest economy in the world.

At exactly 02:54 AM GMT, the Australian dollar pair fell against the US dollar by 0.34% to 0.6974 levels compared to the opening levels at 0.6998, after the pair achieved its lowest level during the trading session at 0.6965, while the pair achieved its highest at 0.7005.

We have followed on from the Australian economy to reveal consumer expectations for inflation with the release of the Melbourne Institute's reading of consumer expectations for inflation, which showed a decrease to 3.3% compared to 3.4% last May, and that comes hours after the Weissbach consumer confidence index showed a rise of 6.3% to what Its value was 93.7, against a 16.4% increase at 88.1 in May.

On the other hand, investors are currently awaiting by the American economy the issuance of the index of subsidy requests for the week that expired on the fifth of this month, which may reflect a decline of 327 thousand applications to 1,550 thousand applications compared to 1,877 thousand requests in the previous reading, as may appear the reading of ongoing subsidy requests For the week ending May 29, it decreased by 1,487 thousand requests to 20,00 thousand requests compared to 21,487 thousand requests.

This comes in conjunction with the release of the producer price index, which is an initial indicator of inflation, which may reflect 0.1% growth versus a 1.3% contraction last April, while a substantial reading of the same indicator may show contraction shrinking to 0.1% versus 0.3%, and the annual reading may appear The index has the contraction stable at 1.2%, little changed from the previous annual reading, while the substantial annual reading may reflect slowing growth to 0.4% compared to 0.6%.

Other than that, yesterday we followed the expiry of the two-day FOMC meeting, during which the Federal Reserve monetary policy makers kept the interest on federal funds at between zero and 0.25% for the second meeting in a row, which came in line with expectations And, with the disclosure of the expectations of the members of the Committee to the rates of growth, inflation and unemployment in addition to the future interest rates for the next three years.

This has included expectations of members of the Federal Committee to stay on interest rates at zero levels until 2022 and that the US economy may contract 6.5% during 2020 and that unemployment rates may reach 9.3% by the end of the year before falling to 6.5% in 2021 and 5.5% in 2022, and came Hours after the CPI reading showed inflation contracted for the third consecutive month in May to reflect the longest deflation period ever.

We also followed yesterday, Wednesday, the press conference held by Federal Reserve Governor Jerome Powell to comment on the decisions of the Federal Committee, through which he emphasized the Federal Reserve’s commitment to use all tools to support the American economy in light of the current challenges to achieve the goal of inflation, price stability and access to optimal exploitation of the labor market, explaining Corona virus has caused extensive health and economic damage in America and abroad.

Powell pointed out 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 low oil prices have a negative impact on inflation, adding that the continuation of the current crisis will harm economic activity More employment, in addition to inflation in the short term, will reflect negatively on the economic outlook for the medium term.

Technical analysis

The Australian dollar versus the US dollar pair opens today's trading with a bearish tendency to approach the intraday upside channel support that is now at 0.6910, which requires attention from the upcoming trades, as breaking this level will push the price to test the main support at 0.6795 before any new attempt to rise.

Until now, the upside scenario is still effective, provided stability above 0.6910, noting that we are waiting for the visit of 0.7200 as a next main station.

The expected trading range for today is between 0.6870 support and 0.7020 resistance.

Expected trend for today: bullish.

The single currency, the euro, fell during the Asian session to witness its rebound to the second session from its highest since March 10 against the US dollar, on the threshold of economic developments and data expected today, Thursday, by the Eurozone economies, which include Eurogroup meetings via satellites in Brussels and on the cusp of developments and data Expected economic from the US economy, the largest economy in the world.

At 05:31 am GMT, the euro pair fell against the US dollar by 0.33% to 1.1337 levels, compared to the opening levels at 1.1374 after the pair achieved its lowest level during the trading session at 1.1325, while achieving the highest at 1.1395.

The markets are looking for France, the second largest economy in the eurozone, for the final reading of the change in employment in sectors other than agriculture, which may confirm a decline of 2.3% during the first quarter compared to a rise of 0.5% in the fourth quarter, before we witness Italy the third largest economy in the region. On the data of the industrial sector, with the release of the Industrial Production reading, which may explain the decline decreased to 24.0% compared to 28.4% in March.

This comes in conjunction with the meetings of the Eurogroup via satellite, which are attended by the finance ministers of the member states in the region, the Commissioner for Economic and Monetary Affairs and the European Central Governorate, which discusses many financial issues such as the mechanisms of supporting the euro and government financing, led by the European Union recovery package from the repercussions The negative of the Corona virus outbreak and the identification of the next head of the Eurogroup.

In another context, we followed yesterday the chief European Union negotiator expressed to Britain’s exit file from the European Union, Michel Barnier, that the European Union’s relationship with Britain will differ from its relationship with Canada or Japan, indicating that Britain has a distinguished position in terms of proximity or trade with the European Union. And adding that no commercial agreement can be reached with Britain without a deal on fishing and an equal relationship.

On the other hand, investors are currently awaiting by the US economy the issuance of the index of subsidy requests for the last week on the fifth of this month, which may reflect a decline of 327 thousand applications to 1,550 thousand applications compared to 1,877 thousand requests in the previous reading, as may appear the reading of ongoing subsidy requests Last week, on May 29, it decreased by 1,487 thousand requests to 20,00 thousand requests compared to 21,487 thousand requests.

This comes in conjunction with the release of the producer price index, which is an initial indicator of inflation, which may reflect 0.1% growth versus a 1.3% contraction last April, while a substantial reading of the same indicator may show contraction shrinking to 0.1% versus 0.3%, and the annual reading may appear The index has the contraction stable at 1.2%, little changed from the previous annual reading, while the substantial annual reading may reflect slowing growth to 0.4% compared to 0.6%.

Other than that, yesterday we followed the expiry of the two-day FOMC meeting, during which the Federal Reserve monetary policy makers kept the interest on federal funds at between zero and 0.25% for the second meeting in a row, which came in line with expectations And, with the disclosure of the expectations of the members of the Committee to the rates of growth, inflation and unemployment in addition to the future interest rates for the next three years.

This has included expectations of members of the Federal Committee to stay on interest rates at zero levels until 2022 and that the US economy may contract 6.5% during 2020 and that unemployment rates may reach 9.3% by the end of the year before falling to 6.5% in 2021 and 5.5% in 2022, and came Hours after the CPI reading showed inflation contracted for the third consecutive month in May to reflect the longest deflation period ever.

We also followed yesterday, Wednesday, the press conference held by Federal Reserve Governor Jerome Powell to comment on the decisions of the Federal Committee, through which he emphasized the Federal Reserve’s commitment to use all tools to support the American economy in light of the current challenges to achieve the goal of inflation, price stability and access to optimal exploitation of the labor market, explaining Corona virus has caused extensive health and economic damage in America and abroad.

Technical analysis

The euro rally against the bullish dollar stopped at the level of 1.1418, where it finds strong resistance there, and it needs to get enough positive momentum to push trading to breach this level and open the way for heading towards our next target which is located at 1.1500.

The graph shows that the price is moving inside an ascending channel that supports the chances of the continuation of the bullish bias during the upcoming sessions, so we continue to favor the bullish trend with the support of the EMA50, noting the importance of holding above 1.1295 to achieve the awaited targets.

The expected trading range for today is between 1.1300 support and 1.1480 resistance.

Expected trend for today: bullish.

Gold prices fluctuated in a narrow range tilted towards the decline during the Asian session to witness its rebound from above since June 2 amid the US dollar index rebound to the second session from the lowest since March 10 according to the inverse relationship between them on the threshold of developments and economic data expected today Thursday by the US economy the largest economy in the world and in the aftermath of the expiry of the Federal Open Market Committee meeting, which charted a long way to repair the economic damage caused by the outbreak of the Coronavirus.

At exactly 04:22 am GMT, gold futures contracts for next August delivery fell 0.30% to trade at $ 1,741.30 per ounce compared to the opening at $ 1,746.60 per ounce, knowing that the contracts started the trading session on an upward price gap after it concluded trading yesterday at $ 1,720.70 an ounce, with the rising US dollar index 0.19% to 96.28 compared Balavtaatahih at 96.10.

Investors are currently awaiting by the US economy the issuance of the index of subsidy requests for the last week on the fifth of this month, which may reflect a decline of 327 thousand requests to 1,550 thousand requests compared to 1,877 thousand requests in the previous reading, as may appear reading the continuing subsidy requests for the past week in May 29, down by 1,487 thousand requests to 20,00 thousand requests compared to 21,487 thousand requests.

This comes in conjunction with the release of the producer price index, which is an initial indicator of inflation, which may reflect 0.1% growth versus a 1.3% contraction last April, while a substantial reading of the same indicator may show contraction shrinking to 0.1% versus 0.3%, and the annual reading may appear The index has the contraction stable at 1.2%, little changed from the previous annual reading, while the substantial annual reading may reflect the slowdown in growth to 0.4% compared to 0.6%.

Other than that, yesterday we followed the expiry of the two-day FOMC meeting, during which the Federal Reserve monetary policymakers kept the interest on federal funds at between zero and 0.25% for the second meeting in a row, which came in line with expectations And, with the disclosure of the expectations of the members of the Committee to the rates of growth, inflation, and unemployment in addition to the future interest rates for the next three years.

This included the expectations of the members of the federal stay interest rates at levels of zero until 2022 and that the US economy could shrink 6.5% in 2020 and that the unemployment rate could reach 9.3% by the end of the year before falling to 6.5% in 2021 to 5.5% in 2022, and came Hours after the CPI reading showed inflation in the third consecutive month in May to reflect the longest deflation period ever.

As we followed on Wednesday the press conference held by the Governor of the Federal Reserve Bank of Jerome Powell to comment on the decisions of the Federal Commission, which confirmed through the reserve commitment of the federal using all the tools to support the US economy in light of the current challenges to achieve the goal of inflation and price stability and access to the optimal exploitation of the labor market, explaining Coronavirus that caused extensive damage and economic health in America and beyond.

He noted Powell, the fact that the coronavirus and procedures that have been adopted to limit its spread, specifically the closure of economies, have had a negative impact on economic activity led to high unemployment, while referring to the fact that the weakness of domestic demand and the decline in oil prices has a negative impact on inflation, adding that the continuation of the current crisis would hurt economic activity More employment, in addition to inflation in the short term, will reflect negatively on the economic outlook for the medium term.

Technical analysis

The price of gold maintains its stability above SMA 50, awaiting further increase during the upcoming sessions, noting that the price needs a positive momentum sufficient to push trades towards our first positive target, which is located at 1764.00.

In general, we continue to favor the bullish trend over the intraday and short term, provided stability above 1691.10, as breaking this level will press the price to make more bearish correction and heading towards 1646.00 before any new attempt to rise.

Expected trading range for today is between the support and resistance 1700.00 1740.00.

Expected trend for today: bullish.

The fluctuation of the US dollar in a narrow range tilted to the upside during the Asian session to witness its rebound from the lowest since May 15 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 Thursday by the US economy the largest economy In the world.

At 06:07 am GMT, the US dollar pair rose against the Japanese yen by 0.01% to 107.13 levels compared to the opening levels at 107.12 after the pair achieved its highest level during the trading session at 107.23, while achieving the lowest at 106.90.

We have followed about the Japanese economy, the third largest economy and the third largest industrialized country in the world. The Bank of Japan revealed the manufacturing business statistics, which showed that the deflation widened to 52.3 compared to 17.2 in the first quarter, worse than the expectations that indicated that the deflation widened to a value of 20.5, The business sector statistic for the whole industry also showed that the contraction widened to 47.6 compared to 10.1 in the first quarter.

On the other hand, investors are currently awaiting by the US economy the issuance of the index of subsidy requests for the last week on the fifth of this month, which may reflect a decline of 327 thousand applications to 1,550 thousand applications compared to 1,877 thousand requests in the previous reading, as may appear the reading of ongoing subsidy requests Last week, on May 29, it decreased by 1,487 thousand requests to 20,00 thousand requests compared to 21,487 thousand requests.

This comes in conjunction with the release of the producer price index, which is an initial indicator of inflation, which may reflect 0.1% growth versus a 1.3% contraction last April, while a substantial reading of the same indicator may show contraction shrinking to 0.1% versus 0.3%, and the annual reading may appear The index has the contraction stable at 1.2%, little changed from the previous annual reading, while the substantial annual reading may reflect slowing growth to 0.4% compared to 0.6%.

Other than that, yesterday we followed the expiry of the two-day FOMC meeting, during which the Federal Reserve monetary policy makers kept the interest on federal funds at between zero and 0.25% for the second meeting in a row, which came in line with expectations And, with the disclosure of the expectations of the members of the Committee to the rates of growth, inflation and unemployment in addition to the future interest rates for the next three years.

This has included expectations of members of the Federal Committee to stay on interest rates at zero levels until 2022 and that the US economy may contract 6.5% during 2020 and that unemployment rates may reach 9.3% by the end of the year before falling to 6.5% in 2021 and 5.5% in 2022, and came Hours after the CPI reading showed inflation contracted for the third consecutive month in May to reflect the longest deflation period ever.

We also followed yesterday, Wednesday, the press conference held by Federal Reserve Governor Jerome Powell to comment on the decisions of the Federal Committee, through which he emphasized the Federal Reserve’s commitment to using all tools to support the American economy in light of the current challenges to achieve the goal of inflation, price stability and access to optimal exploitation of the labor market, explaining Coronavirus has caused extensive health and economic damage in America and abroad.

Powell pointed out 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 low oil prices have a negative impact on inflation, adding that the continuation of the current crisis will harm economic activity More employment, in addition to inflation in the short term, will reflect negatively on the economic outlook for the medium term.

Technical analysis

The dollar versus the yen achieved a clear breakout of the level of 107.68 and settled below it, to activate the negative scenario on the intraday basis, on the way to visit the 106.44 level as a next negative station.

Therefore, a bearish bias will be favored for today, noting that breaching the mentioned level will extend the descending wave to reach 105.20, while the expected decline will remain if the price cannot breach 107.68 and hold above it again.

The expected trading range for today is between 106.10 support and 107.70 resistance.

Expected trend for today: bearish.

#VOW3
The overall trend is upward. The support level of 141.50 is holding back sellers. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversoldness.

Trading recommendations:

Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending pattern.

Stop loss below the support level of 141.50.

Target levels: 148.00; 155.50. 160.70.

The #VOW3 rate online: monitor the movement of the shares in real time.

AUDNZD

The overall trend is upward. The currency pair is trading in the range of the support level of 1.0660. Stochastic Oscillator signals oversoldness. A breakout of 1.0726 will result in the formation of a 1-2-3 uptrend within the overall uptrend. 

Trading recommendations:

Buy above 1.0726.

Stop loss: 1.0660.

Target levels: 1.0820; 1.0880.

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