Analytic reviews

AUDUSD

The pair corrected down within the general trend, as the market ended this month’s rally and correced down before a new wave of growth. Political tensions between China and Australia are also a negative factor for the currencey. Expect the pair to continue correcting down until the next positive news release.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. Stoch are entering the oversold zone.

Trading recommendations:

Decline below 0.6900 will lead to a correction drop to 0.6825.

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

The Australian dollar fluctuated in a narrow range tilted to the upside to resume its daily gains marches that erupted yesterday with its decline for the first time in nine sessions, which was considered the longest since late 2017 and early 2018 against the US dollar, following the developments and economic data that it followed on the Australian economy and on the cusp of developments The economic data expected today Wednesday by the US economy, which includes the activities of the Federal Open Market Committee meeting and the upcoming press conference of the Federal Reserve Governor Jerome Powell.

At exactly 02:58 AM GMT, the Australian dollar pair rose against the US dollar by 0.09% to 0.6967 levels compared to the opening levels at 0.6961, after the pair achieved its highest level during the trading session at 0.6968, while the pair achieved its lowest at 0.6933.

We have followed on from the Australian economy to reveal a reading of the Weissbank consumer confidence index, which showed slowing growth to 6.3% to 93.7% compared to 16.4% at 88.1 last May, and that comes hours before the disclosure tomorrow of consumers ’expectations for inflation with the release of the Institute’s reading Melbourne's consumer expectations for inflation may reflect a rise to 4.2% from 3.4% in May.

On the other hand, investors are anticipating the US economy to disclose inflation data with the release of the CPI reading that may show stability at zero levels versus a 0.8% contraction in April, as the fundamental reading of the index may show stability at zero levels versus a 0.4% contraction , And the annual reading of the index may reflect the slowdown in growth to 0.2% versus 0.3%, as the substantial annual reading may show 1.3% versus 1.4%.

This comes in conjunction with the actual meeting of the Federal Committee for the Open Market via satellite in Washington, which is expected to remain on the short-term reference interest rates for the second meeting at between zero and 0.25%, in conjunction with the disclosure of the Federal Committee data and the expectations of the members of the Committee for growth rates Inflation and unemployment as well as the future of interest rates for the next three years.

Up to the press conference to be held by Federal Reserve Governor Jerome Powell half an hour after the FOMC meeting ended to comment on the decisions of the Federal Reserve monetary policy makers who recently adopted several stimulus programs until the economy showed signs of recovery, led by the Treasury bond purchase program At $ 500 billion a month and mortgage bonds at least $ 200 a month.

Technical analysis

The Australian dollar versus the US dollar pair based on the 0.6900 barrier and bounced up to approach the 0.7000 areas now, which supports the continuation of the bullish scenario for the upcoming period, supported by the positivity of the stochastic, along with the moving average 50, which continues to carry the price from below.

A break of 0.7025 is required to confirm opening the way towards heading towards our main target awaited at 0.7200, while noting the importance of holding above 0.6884 for the continuation of the suggested bullish wave.

The expected trading range for today is between 0.6900 support and 0.7070 resistance

Expected trend for today: bullish

The euro currency fluctuated in a narrow range slanting upward during the Asian session to witness its stability near the top of it has three months against the US dollar on the cusp of developments and economic data expected today Wednesday by the French economy and its American economy the largest economy in the world and that includes the activities of the Federal Market Committee meeting Open and upcoming press conference of Federal Reserve Governor Jerome Powell.

At 05:31 am GMT, the euro pair rose against the US dollar by 0.16% to 1.1358 levels, compared to the opening levels at 1.1340 after the pair achieved its highest level during the trading session at 1.1359, while achieving the lowest at 1.1332.

The markets are looking for France, the second largest economy in the eurozone, to disclose data on the industrial sector with the release of the industrial production index, which may reflect the widening decline to 20.0% compared to 16.2% last March. In another context, we followed at the weekend expressed the Minister of Finance French Bruno Lemerre announced that the French government will provide an estimated 15 billion euros in aid to support the pilots' sector against the consequences of healing the Coronavirus.

On the other hand, investors are anticipating the US economy to disclose inflation data with the release of the CPI reading that may show stability at zero levels versus a 0.8% contraction in April, as the fundamental reading of the index may show stability at zero levels versus a 0.4% contraction , And the annual reading of the index may reflect the slowdown in growth to 0.2% versus 0.3%, as the substantial annual reading may show 1.3% versus 1.4%.

This comes in conjunction with the actual meeting of the Federal Committee for the Open Market via satellite in Washington, which is expected to remain on the short-term reference interest rates for the second meeting at between zero and 0.25%, in conjunction with the disclosure of the Federal Committee data and the expectations of the members of the Committee for growth rates Inflation and unemployment as well as the future of interest rates for the next three years.

Up to the press conference to be held by Federal Reserve Governor Jerome Powell half an hour after the FOMC meeting ended to comment on the decisions of the Federal Reserve monetary policy makers who recently adopted several stimulus programs until the economy showed signs of recovery, led by the Treasury bond purchase program At $ 500 billion a month and mortgage bonds at least $ 200 a month.

Technical analysis

The euro against the dollar compensated the losses incurred yesterday, after the strong rise witnessed in the last sessions, to succeed in stabilizing above the level of 1.1295, which leads the price to achieve a more expected rise in the intraday and short term, on the way to head towards 1.1418 which represents our next main station.

Consequently, we will continue to favor the bullish trend for the upcoming period supported by the EMA50, noting that breaching the target level will push the price to 1.1500 directly, while the expected rise will remain valid provided the stability above 1.1295.

The expected trading range for today is between 1.1250 support and 1.1440 resistance

Expected trend for today: bullish

Gold prices fluctuated in a narrow range tilted to the upside, to witness its bounce for the fourth session from the lowest since April 21, amid the decline of the US dollar index according to the inverse relationship between them after the developments and economic data that were followed by the Chinese economy, the largest consumer of metals globally and on the cusp of developments and economic data expected today, Wednesday, by the US economy, the largest economy in the world, which includes the events of the Federal Open Market Committee meeting and the upcoming press conference of Federal Reserve Governor Jerome Powell.

At exactly 03:49 am GMT, gold futures contracts for next August delivery rose 0.32% to trade at $ 1,724.40 per ounce compared to the opening at $ 1,718.90 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded trading Yesterday at $ 1,721.90 an ounce, with the US dollar index down 0.14% to 96.31 compared to the opening at 96.45.

We have followed the disclosure of the Chinese National Bureau of Statistics of inflation data with the release of the annual reading of the consumer price index, which showed a slowdown in the pace of growth to 2.4% compared to 3.3% last April, without expectations at 2.7%, as for the annual reading of the producer price index, which An initial indication of inflationary pressures was that the deflation widened to 3.7% versus 3.1%, also worse than expectations for a 3.2% contraction.

On the other hand, investors are anticipating the US economy to disclose inflation data with the release of the CPI reading that may show stability at zero levels versus a 0.8% contraction in April, as the fundamental reading of the index may show stability at zero levels versus a 0.4% contraction , And the annual reading of the index may reflect the slowdown in growth to 0.2% versus 0.3%, as the substantial annual reading may show 1.3% versus 1.4%.

This comes in conjunction with the actual meeting of the Federal Committee for the Open Market via satellite in Washington, which is expected to remain on the short-term reference interest rates for the second meeting at between zero and 0.25%, in conjunction with the disclosure of the Federal Committee data and the expectations of the members of the Committee for growth rates Inflation and unemployment as well as the future of interest rates for the next three years.

Up to the press conference to be held by Federal Reserve Governor Jerome Powell half an hour after the FOMC meeting ended to comment on the decisions of the Federal Reserve monetary policy makers who recently adopted several stimulus programs until the economy showed signs of recovery, led by the Treasury bond purchase program At $ 500 billion a month and mortgage bonds at least $ 200 a month.

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.

The expected trading range for today is between 1700.00 support and 1740.00 resistance

Expected trend for today: bullish

The US dollar fell during the Asian session to witness its rebound to the fourth session from its top since March 26 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, which includes the activities of the Federal Market Committee meeting Open and upcoming press conference of Federal Reserve Governor Jerome Powell.

At exactly 05:52 AM GMT, the US dollar pair fell against the Japanese yen by 0.32% to 107.42 levels compared to the opening levels at 107.75 after the pair achieved its lowest level since the beginning of June at 107.41, while it achieved its highest during the trading session At 107.87.

We have followed about the Japanese economy, the third largest economy in the world and the third largest industrialized country globally, to disclose the reading of the machinery orders index, which showed the widening of the decline to 12.0% compared to 0.4% last March, worse than the expectations that indicated a decline of 7.5%, as she explained The annual reading of the same index expanded the decline to 17.7% compared to 0.7%, also worse than expectations that indicated the decline of 14.0%.

This came in conjunction with the disclosure of inflation data with the release of the producer price index, which is a preliminary indicator of inflationary pressures, which showed contraction contracted to 0.4% compared to 1.5% last April, worse than expectations that indicated deflation to decline to 0.3%, while the reading indicated The annualized index for the same index expanded to 2.7% compared to the previous annual reading for April and expectations for 2.4%.

On the other hand, investors are anticipating the US economy to disclose inflation data with the release of the CPI reading that may show stability at zero levels versus a 0.8% contraction in April, as the fundamental reading of the index may show stability at zero levels versus a 0.4% contraction, and the annual reading of the index may reflect the slowdown in growth to 0.2% versus 0.3%, as the substantial annual reading may show 1.3% versus 1.4%.

This comes in conjunction with the actual meeting of the Federal Committee for the Open Market via satellite in Washington, which is expected to remain on the short-term reference interest rates for the second meeting at between zero and 0.25%, in conjunction with the disclosure of the Federal Committee data and the expectations of the members of the Committee for growth rates Inflation and unemployment as well as the future of interest rates for the next three years.

Up to the press conference to be held by Federal Reserve Governor Jerome Powell half an hour after the FOMC meeting ended to comment on the decisions of the Federal Reserve monetary policy makers who recently adopted several stimulus programs until the economy showed signs of recovery, led by the Treasury bond purchase program At $ 500 billion a month and mortgage bonds at least $ 200 a month.

Other than that, we followed earlier this week the World Bank revealed its expectations for the performance of the global economy during the current year 2020, which indicated a global economic contraction of 5.2% in 2020 due to the Coronavirus compared to previous expectations of growth of 2.5%, with the indication that the global economic recession will be the largest in the year 1945 in the aftermath of World War II, depending on per capita gross domestic product.

The World Bank’s expectations at the time also included that the major economies may witness a 7% contraction in 2020, amid expectations that the US and Japanese economies will contract 6.1% and the eurozone economies will grow 9.1% this year, but they may recover next year 2021 and achieve 3.9% growth, and the World Bank favored the province of China On a positive growth of 1% during the current year, while the Indian economy may witness a contraction of 3.2% in 2020 and the Brazilian economy may witness a contraction of 8%.

Technical analysis

The dollar against the yen presented more negative trades yesterday to settle at 107.68, and the day begins with an additional bearish tendency to move below this level, which provides signs of the price heading to the downside, but we prefer stopping on the neutral until the price confirms the closing of the daily candle in relation to the mentioned level.

We point out that stability below 107.68 will push the price to achieve further decline and visit the 106.44 level as the next main target, while the consolidation above it represents the key to resuming the bullish direction whose first target is at 109.22.

The expected trading range for today is between 106.70 support and 108.50 resistance

Expected trend for today: neutral

#BATS

Stock markets continue to show a strong recovery. 365 and 135 moving averages also indicate an uptrend, and Stochastic Oscillator signals oversoldness. If the price remains above the resistance level of 30.600, it will continue further up.

Trading recommendations:

Buy above 30.60.

Stop loss: 29.73.

The target is 32.50.

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

GBPCAD

The currency pair is trading in the range of the 1.7120 resistance level. Awesome Oscillator shows a bearish divergence, while Stochastic Oscillator signals overboughtness. A breakout of the round intermediate level of 1.7050 will result in the formation of a descending pattern of 1-2-3.

Trading recommendations:

Sell below 1.7050 when the 1-2-3 descending pattern is formed.

Stop loss: 1.7020.

Target levels: 1.6970; 1.6924; 1.6850.

When the price reaches the resistance level of 1.7120, cancel the trading plan.

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

EURUSD

If the Fed’s meeting results in a decision to preserve the soft monetary policy aimed at the recovery of the national economy, and Jerome Powell confirms it at the press conference, expect the US dollar to resume decline.

Technical side:

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the overbought level and turns up. Stoch are in the overbought zone and uninformative.

Trading recommendations:

If the pair rises above 1.1360, expect a local growth to 1.1450.

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

#VOW3

The overall trend is upward. The stock is trading in the range of the lower border of the ascending price channel. A descending wave pattern ("red") has formed, an inclined channel has also formed along it.

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 at the local minimum.

Target levels: 155.50. 160.70.

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

The Australian dollar fluctuated in a narrow range tilted towards the decline during the Asian session, to witness its rebound from above for it since July 23, 2019, and to promise to end its longest daily gains march since late 2017 and early 2018 against the US dollar, following the developments and economic data that it followed on the Australian economy and on The cusp of developments and economic data expected today Tuesday by the US economy, the largest economy in the world, which includes the launching of the activities of the Federal Open Market Committee meeting today and tomorrow, Wednesday.

At exactly 02:47 am GMT, the Australian dollar pair fell against the US dollar by 0.31% to 0.6999 levels compared to the opening levels at 0.7021, after the pair achieved its lowest level during the trading session at 0.6988, while the pair achieved its highest in nearly a year at 0.7021.

On the Australian economy, we have followed the release of the Australian National Bank’s business confidence index, which showed contraction has shrunk to 20 versus 45 April last, as the reading of the same indicator of confidence in the current conditions showed shrinkage to 24 to 34, and this came in conjunction with The disclosure of preliminary data for the labor market with the release of job announcements, which showed a 0.5% increase compared to a 53.4% ​​decline in April.

On the other hand, investors are currently awaiting by the US economy the release of the final reading of the wholesale stocks index, which may confirm an increase of 0.4%, unchanged from the previous initial reading for the month of April, and against a decline of 0.8% last March, in conjunction with the disclosure of data, The labor market with the release of a job read and a turnover statistic that may reflect a decrease to 5.75 million compared to 6.19 million in March.

Otherwise, the markets are looking at a later time for the launching of the FOMC meeting, which is taking place today and tomorrow, Wednesday via satellites in Washington, through which the short-term reference interest rates for the second meeting are expected to be between zero and 0.25% simultaneously. With the disclosure of the expectations of members of the Committee to the rates of growth, inflation, and unemployment in addition to the future interest rates for the next three years.

Up to the press conference that Federal Reserve Governor Jerome Powell will hold tomorrow, specifically, half an hour after the FOMC meeting ends, to comment on the decisions of the Federal Committee, which recently adopted many stimulus programs until the economy showed signs of recovery, led by the Treasury bond purchase program at $ 500 One billion monthly and mortgage bonds, at least $ 200 a month.

Technical analysis

The Australian dollar pair against the US dollar made positive trading yesterday, but it is due to the fluctuation around 0.7000, waiting for a positive incentive to contribute to pushing the price to resume the main bullish trend, which targets the 0.7200 level as a next station.

In general, the expected rise will remain valid unless the 0.6884 level is broken and stability below it, as breaking this level will press the price to drop towards 0.6750 before any new attempt to rise.

The expected trading range for today is between 0.6930 support and 0.7080 resistance.

Expected trend for today: bullish.