Analytic reviews

#NESN

The stock is trading in the range of the support level of 101.67. Bullish divergence has formed on the Awesome Oscillator, and Stochastic Oscillator signals oversoldness. Buy after the downward construction is completed after the breakout of the inclined channel.

Trading recommendations:

Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending wave M30 level pattern.

Stop Loss under the support level of 101.67.

Target levels: 104.57; 106.00.

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

The fluctuation of the US dollar in a narrow range slanted toward decline during the Asian session, to witness its bounce for the second session from the top since March 26 against the Japanese yen, following developments and economic data that it announced today, Monday, on the Japanese economy and amid the scarcity of economic data on the US economy earlier this week. Carries with it the Federal Open Market Committee meeting.

At exactly 6:18 am GMT, the US dollar pair fell against the Japanese yen by 0.09% to 109.54 levels compared to the opening levels at 109.67 after the pair achieved its highest level during the trading session at 109.70, while achieving the lowest at 109.38, knowing that The pair started the trading session on an upward price gap after it concluded the trading last week at 109.59.

On Sunday, we followed up on the Japanese economy, the second largest economy in Asia and the second largest in the world, to disclose the growth data for the first quarter with the release of the seasonally adjusted final reading of GDP, which showed a contraction of 0.6% compared to a contraction of 0.9% in the previous initial reading for the first quarter and a contraction of 1.8 % In the previous reading for the fourth quarter, worse than expectations, which indicated a contraction of 0.5%.

In the same context, the annual final reading of the GDP measured by prices showed a growth of 0.9%, unchanged from the previous annual reading of the previous quarter, in line with expectations and against a growth of 1.2% in the fourth quarter, with that coinciding with the release of the annual reading of the bank lending index, which reflected the acceleration Growth to 4.8% compared to the previous reading for the month of March.

On Monday, we also followed the Japanese economy on the release of the current account reading, which showed that the surplus contracted to 0.26 trillion yen compared to 1.97 trillion yen in March, worse than expectations that indicated the contraction of 0.48 trillion yen, just as the seasonally adjusted reading of the same index showed that the surplus has shrunk to 0.25 billion yen, compared to 0.94 billion yen in March, is also worse than expectations that the surplus will shrink to 0.33 billion yen.

Up to the Japanese Cabinet Office unveiling an ECO Watchers statistic reading of the current and future conditions that showed the contraction of the current conditions shrinking to 15.5 compared to 7.9 in April, outperforming the expectations that the contraction shrank to 10.7, as the reading of future conditions showed that the contraction shrank to 36.5 versus 16.6, contrary to expectations that the contraction will widen to 9.5.

On the other hand, the markets are looking for tomorrow, Tuesday, for the launching of the activities of the Federal Open Market Committee meeting that will be held tomorrow and after tomorrow, Wednesday, via satellites in Washington, through which the short-term benchmark 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 to be held by Federal Reserve Governor Jerome Powell on Wednesday, exactly half an hour after the FOMC meeting ended, 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 USDJPY pair managed to breach the 109.22 level and hold above it, which supports the continuation of our long-term bullish outlook, on its way to achieving new positive targets that start at 110.70 and extend to 111.70.

Therefore, the bullish trend will remain dominant during the upcoming sessions, noting that breaking 109.22 and holding below it will put the price under new negative pressure targeting initially visiting areas of 107.68.

The expected trading range for today is between 108.80 support and 110.30 resistance.

Expected trend for today: bullish.

#GOOGLE

Stock markets show a confident recovery after the strong fall. The overall trend is upward. At the end of the trading session, the "hammer" reversal pattern has formed. Stochastic Oscillator signals oversoldness.

Trading recommendations:

Buy above 1415.0.

Stop loss: 1405.60.

Target levels: 1423.0; 1440.0.

The #GOOGLE shares rate online: monitor the movement if the shares in real time.

AUDNZD 

The currency pair is trading in the range of 365 and 135 moving averages. A bullish divergence has formed on Awesome Oscillator, while Stochastic Oscillator signals oversoldness. A breakout of 1.0770 will result in the formation of an ascending pattern of 1-2-3. 

Trading reccomendations:

Buy above 1.0770.

Stop loss: 1.0718.

Target levels: 1.0820; 1.0880.

When the price reaches the support level of 1.0718, cancel the trading plan.

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

EURUSD 

The pair is above 1.1345, after Thursday’s surge folowing the ECB's monetary policy meeting and the regulator’s unexpected decision to expand the stimulus measures by almost 2.5 times. If today’s US employment data is better than expected, this may lead to a local decline of the pair, likely to be followed by resumed growth.

Technical side:

The price is at the level of the upper Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone and is gradually growing. Stoch confidently decline and indicate a weaker growth.

Trading recommendations:

If the pair holds above 1.1345, it may continue further up to 1.1450. At the same time, a local decline to 1.1265 may suggest buying the pair with the same target mark.

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

Yesterday the Australian dollar versus the US dollar resumed its positive trading yesterday and approached the 0.7000 barrier again, which strengthens expectations for the continuation of the main bullish trend, which is moving inside the bullish channel that appears in the image, with a reminder that our next main target reaches 0.7200.

SMA 50 continues to support the price from below, to support the chances of achieving the suggested positive targets, noting the importance of holding above 0.6884 for the continuation of the expected rise.

The expected trading range for today is between 0.6884 support and 0.7040 resistance

Expected trend for today: bullish

The single currency fluctuated the euro in a narrow range slanting up during the Asian session to witness its stability near its highest in three months with its rise for the tenth consecutive session against the US dollar on the cusp of developments and economic data expected on Friday by the economies of the euro area and the US economy the largest economy in the world .

At 05:23 am GMT, the euro pair rose against the US dollar by 0.10% to 1.1349 levels, compared to the opening levels at 1.1338, after the pair achieved its highest level during the trading session at 1.1355, while achieving the lowest at 1.1326.

Markets are looking by Germany, the largest economy in the euro area, for the release of factory orders reading, which may show a widening decline to 20.0% compared to 15.6% last March, before we witness by Italy, the third largest economy in the region, the disclosure of the retail sales index reading that may It shows the decline decreased to 19.0% compared to 20.5% in March.

This comes hours after the end of the European Central Bank’s five-day meeting, during which the monetary policy makers of the European Central Bank kept short-term reference interest rates at their zero levels, in addition to fixing the marginal lending rate at 0.25% and maintaining the interest rate on negative deposits -0.50% Which came in line with expectations.

We also followed yesterday that the European Central Bank increased its bond purchase program to combat the economic repercussions of the Corona virus, known as "PEPP" by 600 billion euros to 1,350 billion euros, exceeding market expectations at 500 billion euros only, as part of the work of monetary policy makers to provide support to the economies The euro zone, which is expected to witness a contraction of at least 8% this year.

It is noteworthy that the alliance of German Chancellor Angela Merkel agreed last Wednesday on a comprehensive stimulus package worth 130 billion euros designed to stimulate investor spending in the short term and companies ’investments. We also followed Wednesday, German Foreign Minister Heiko Maas confirmed his country’s lifting of the travel ban for EU member states starting from 15 This June, this was part of the reopening of global economies.

In another context, we followed Wednesday warning the regional director at the World Health Organization in Europe, Hans Klugi, that there is a clear threat of a second wave of corona virus spread, which may be devastating, especially with the gradual easing of restrictions, while emphasizing that the occurrence of a second wave of coronavirus is not Inevitably, he explained that the current time is not better than what we were at the beginning of the year, especially that no vaccine or treatment for the virus has been reached yet.

In the same context, the chief researcher of the World Health Organization also stated yesterday that there is no evidence about finding an effective drug that reduces deaths from coronavirus, while urging experts to continue all experiments to find the appropriate treatment for the virus, according to the latest figures issued by the organization, the number of Corona virus cases have reached nearly 6.42 million, and 382,867 people have died in 216 countries.

On the other hand, investors are currently awaiting by the American economy the disclosure of labor market data with the release of the employment change index for sectors other than agriculture, which may reflect the loss of 7,750 thousand jobs compared to the loss of 20,537 thousand jobs last April, while an average index reading may show Income per hour, growth slowed to 1.0%, compared to 4.7%. That is, with the unemployment rate reading up to 19.4% compared to 14.7% in April.

Technical analysis

The EURUSD pair confirmed the breach of the 1.1295 level after the daily candle closed above it, to open the way for the bullish trend over the intraday and short term, noting that the following positive targets are located at 1.1418 and extend to 1.1500.

SMA 50 continues to support the suggested bullish wave, noting that a break of 1.1295 will put the price under negative pressure and a bearish move over the intraday basis.

The expected trading range for today is between 1.1260 support and 1.1430 resistance.

Expected trend for today: bullish.

Gold prices fluctuated in a narrow range tilted towards the decline during the Asian session, condoning the decline in the US dollar index, which is in connection with its longest daily loss marches since April 2011, according to the inverse relationship between them on the cusp of developments and economic data expected on Friday by the American economy and amid investor pricing To reopen global economies in exchange for the continuing protests in America.

At exactly 04:19 AM GMT, gold futures contracts for next August delivery fell 0.27% to trade at $ 1,716.10 per ounce compared to the opening at $ 1,720.80 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded trading Yesterday at $ 1,727.40 an ounce, while the US dollar index fell 0.01% to 96.74 compared to the opening at 96.75.

Investors are currently awaiting by the US economy the disclosure of labor market data with the release of the employment change index for sectors other than agriculture, which may reflect the loss of 7,750 thousand jobs compared to the loss of 20,537 thousand jobs last April, while reading the average hourly income index may indicate Growth slowed to 1.0% versus 4.7%. That is, with the unemployment rate reading up to 19.4% compared to 14.7% in April.

In another context, we followed yesterday, US President Donald Trump expressed his belief that the army will not have to deploy his country to suppress violent demonstrations in cities over the killing of George Floyd of African descent at the hands of the police, after the curfew failed to contain the massive protests that included violence and looting With demonstrators taking to the streets after weeks of closures during the Corona pandemic, which led to millions losing their jobs.

Technical analysis

The gold price is facing strong resistance formed by the EMA50, to show some bearish bias with the opening of the day, affected by the stochastic negativity, and it may conduct a new test for the level of 1691.10 before returning to rise again.

In general, the bullish trend scenario is still valid with price stability above the support mentioned above, as breaking it will press the price to make more bearish correction targeting 1646.00 level as a next negative station, while the price needs to breach 1721.00 to facilitate the task of heading towards our first positive target that exists at 1764.00.

The expected trading range for today is between 1690.00 support and 1750.00 resistance.

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 the highest since April 6 against the Japanese yen after the developments and economic data that were reported by the Japanese economy and on the cusp of developments and economic data expected on Friday by the American economy, the largest economy in the world and central Market pricing to reopen global economies in exchange for escalating protests in America.

At exactly 6:10 am GMT, the US dollar pair rose against the Japanese yen by 0.08% to 109.24 levels compared to the opening levels at 109.15 after the pair achieved its highest level in two months at 109.31, while achieving the lowest during the trading session at 109.05.

We have followed the Japanese economy on the release of the annual reading of the household spending index, which showed that the decline widened to 11.1% compared to 6.0% last March, outperforming the expectations that indicated a decline in the decline to 12.3%, and this came before we witnessed the disclosure of the initial reading of the leading indicators Which showed a decrease to 76.2 compared to 84.7 in March, worse than expectations that indicated a decrease to 76.3.

On the other hand, investors are currently awaiting by the American economy the disclosure of labor market data with the release of the employment change index for sectors other than agriculture, which may reflect the loss of 7,750 thousand jobs compared to the loss of 20,537 thousand jobs last April, while an average index reading may show Income per hour, growth slowed to 1.0%, compared to 4.7%. That is, with the unemployment rate reading up to 19.4% compared to 14.7% in April.

Technical analysis

The dollar versus the yen succeeded in touching our awaited target at 109.22 and making attempts to breach it, to provide indications of the price trend to continue rising during the coming period, noting that the next stop reaches 110.70.

SMA 50 continues to support the price from below, consolidating the chances of achieving more gains in the short and long term, taking into consideration that failure to breach the above mentioned level will force the price to rebound down to head towards 107.68 areas mainly.

The expected trading range for today is between 108.50 support and 110.00 resistance.

Expected trend for today: bullish.

The Australian dollar fell during the Asian session to witness its bounce for the second session from the top since January 3 against the US dollar after the developments and economic data that it had reported on the Australian economy and on the cusp of developments and economic data expected today Thursday by the American economy and in the shadows and pricing of investors to return Opening world economies against the escalation of protests in America.

At exactly 02:21 am GMT, the Australian dollar pair declined against the US dollar by 0.30% to 0.6900 levels compared to the opening levels at 0.6920, after the pair achieved its lowest level during the trading session at 0.6892, while the pair achieved its highest at 0.6933.

On the Australian economy, we have followed the release of the Trade Balance reading, which indicated that the surplus has shrunk to A $ 8.80 billion from A $ 10.45 billion in March, outperforming expectations that the surplus will shrink to A $ 7.50 billion, and that came before the revision of the revised initial reading Seasonally the retail sales index, which reflected a decline in the decline to -17.7% compared to the previous reading in April and expectations of -17.9%.

This comes hours after the reading of the GDP index for the first quarter yesterday showed a contraction of 0.3% against a growth of 0.5% in the fourth quarter, while the annual reading of the same indicator showed that the growth slowed to 1.4% in line with expectations against 2.2% in the fourth quarter, after hours On Tuesday, monetary policy makers at the Reserve Bank of Australia held interest rates for the third consecutive meeting at 0.25%.

On the other hand, investors are currently awaiting by the American economy the issuance of the index of subsidy requests for the past week on May 29, which may reflect a decline of 330 thousand requests to 1,820 thousand requests compared to 2,123 thousand requests in the previous reading, as may appear reading requests The ongoing benefit for the last week on the 22 of this month decreased by 1,002 thousand requests to 20,050 thousand applications compared to 21,052 thousand requests.

This comes in conjunction with the release of the merchandise trade balance reading, which may explain the deficit shrinking to $ 41.5 billion compared to $ 44.4 billion in April, and with the disclosure of the final reading of the productivity index and the cost of one work, and amid expectations that productivity shrinkage will remain at 2.5% and stability of the cost of one work At 4.8% unchanged from the first reading for the first quarter, compared to productivity growth of 1.2% and growth in the cost of one work 0.9% in the fourth quarter.

Technical analysis

The Australian dollar versus the US dollar shows some bearish tendency now to approach the pivotal support 0.6884, and as we pointed out yesterday, the price needs to hold above this level to keep the bullish trend scenario effective for the next period, with a reminder that breaking this level will put the price under a corrective downward pressure on the term Intraday.

The price needs a positive incentive that pushes trades to resume the main bullish trend, noting that our next main target extends to 0.7200.

The expected trading range for today is between 0.6830 support and 0.6970 resistance.

Expected trend for today: bullish.