Analytic reviews

The single currency fluctuated the euro in a narrow range slanting back down during the Asian session to witness its bounce for the second session from the top since March 12 against the US dollar, on the cusp of developments and economic data expected today by the economies of the euro area and the US economy, which includes the activities of the bank meeting The European Central and the upcoming press conference of the European Central Governorate Christine Lagarde.

At 05:28 am GMT, the euro against the US dollar fell 0.12% to 1.1219 levels, compared to the opening levels at 1.1233 after the pair achieved its lowest level during the trading session at 1.1211, while achieving the highest at 1.1239.

The markets are looking to the eurozone economies as a whole to reveal the retail sales index reading, which may reflect the widening decline to 15.0% compared to 11.2% last March, as the annual reading of the same indicator may show the expansion of the decline to 22.3% compared to 9.2% in the reading Previous annual for the month of March. This may reflect the largest decline since the inception of the European Union in early 1999.

This comes before we witness the ECB’s actual activities amid expectations that the interest rates will remain at their zero levels and that the marginal lending rate should be fixed at 0.25%, in addition to keeping the interest rate on negative deposits -0.50%. It is also expected that the meeting will increase the size of the emergency bond purchase package. (PEPP) rose by 500 billion euros to 1.25 trillion euros, before the press conference of the European Central Governorate Christine Lagarde.

This comes hours after German Chancellor Angela Merkel's alliance approved a comprehensive stimulus package of 130 billion euros designed to stimulate short-term investor spending and corporate investments in the largest economies of the eurozone, as we followed yesterday by German Foreign Minister Heiko Maas to lift his country the travel ban for member states In the European Union, starting from June 15, this came within the framework of reopening world economies.

In another context, we followed yesterday, Wednesday, the regional director of the World Health Organization in Europe, Hans Kluge, that there is a clear threat of a second wave of corona virus spread, which may be devastating, especially with the gradual closure restrictions, while emphasizing that the occurrence of a second wave of coronavirus It is not inevitable, explaining 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 6.29 million, and 379,941 people have died in 216 countries.

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 EURUSD pair shows a bearish tendency to approach the 1.1200 barrier, and the stochastic index starts to get rid of its negative momentum, waiting for a positive momentum sufficient to push the price to resume the main bullish trend, whose next target is located at 1.1295.

In general, we continue to favor the bullish trend for the upcoming period supported by the EMA50 unless the 1.1170 level is broken and stability below it.

The expected trading range for today is between 1.1150 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, disregarding the US dollar index rebound for the second session from the lowest since March 12, according to the inverse relationship between them on the threshold of developments and economic data expected today Thursday by the economies of the euro area and the US economy the largest economy In the world, in the shadows and pricing of investors, to reopen global economies in exchange for the continuing escalation of tensions between Washington and Beijing, and the widespread protests in the United States.

At exactly 04:13 AM GMT, gold price futures for next August delivery rose 0.14% to trade at $ 1,705.20 an ounce compared to the opening at $ 1,702.80 per ounce, knowing that the contracts started the session’s trading on a falling price gap after it concluded trading Yesterday at $ 1,704.80 an ounce, while the US dollar index rose 0.14% to 97.46 compared to the opening at 97.31.

The markets are looking to the eurozone economies as a whole to reveal the retail sales index reading, which may reflect the widening decline to 15.0% compared to 11.2% last March, as the annual reading of the same indicator may show the expansion of the decline to 22.3% compared to 9.2% in the reading Previous annual for the month of March. This may reflect the largest decline since the inception of the European Union in early 1999.

This comes before we witness the ECB’s actual activities amid expectations that the interest rates will remain at their zero levels and that the marginal lending rate should be fixed at 0.25%, in addition to keeping the interest rate on negative deposits -0.50%. It is also expected that the meeting will increase the size of the emergency bond purchase package. (PEPP) rose by 500 billion euros to 1.25 trillion euros, before the press conference of the European Central Governorate Christine Lagarde.

This comes hours after German Chancellor Angela Merkel's alliance approved a comprehensive stimulus package of 130 billion euros designed to stimulate short-term investor spending and corporate investments in the largest economies of the eurozone, as we followed yesterday by German Foreign Minister Heiko Maas to lift his country the travel ban for member states In the European Union, starting from June 15, this came within the framework of reopening world economies.

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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 gold price tested the level of 1691.10 and bounced up significantly from there, to head towards resuming the main bullish trend, supported by the positive signal provided by the stochastic indicator now, pending achieving a further rise to visit the recently recorded summit at 1764.00 as a first positive target.

Thus, the bullish trend scenario will remain valid and active for the upcoming period, noting that breaching 1691.10 will press the price to make more bearish correction and head towards 1646.00 as a next corrective station.

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 level since the eighth of last April against the Japanese yen amid the scarcity of economic data by the Japanese economy and on the cusp of developments and economic data expected Thursday by the US economy the largest economy in the world and central Market pricing to reopen global economies in exchange for escalating protests in the United States.

At exactly 05:51 am GMT, the US dollar pair rose against the Japanese yen by 0.14% to 109.05 levels compared to the opening levels at 108.90 after the pair achieved its highest level in two months at 109.10, while achieving the lowest during the trading session at 108.81.

Investors are currently awaiting by the US economy the issuance of the aid claims index for the last week on May 29, which may reflect a decline of 330 thousand requests to 1,820 thousand applications compared to 2,123 thousand requests in the previous reading, as may appear reading the continuing benefit requests for the last week On the 22nd of this month, a decrease of 1,002 thousand requests to 20,050 thousand requests 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 dollar versus the yen resumes its positive trading to approach our awaited target at 109.22, and the price is trying to confirm that the resistance of the bullish channel that appears in the picture is being overcome, to support the chances of achieving more gains in the intraday and short term, so we hope to breach the mentioned level and head towards 110.70 areas during the coming period.

From here, the bullish trend will remain dominant for today, noting that failure to achieve the required breach will put the price under a possible negative pressure that might push it to visit 107.68 areas again before any new attempt to rise.

The expected trading range for today is between 108.40 support and 110.00 resistance.

Expected trend for today: bullish.

EURUSD 

The pair stopped rising ahead of the ECB’s monetary policy decision, an important aspect of which is the new 750 billion euro stimulus package expected by the markets. The euro will come under pressure following the announcement due to profit taking, although it will still be able to rise in relation to the dollar.
Technical side:
The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is leaving the overbought zone and suggests selling. Stoch are steadily declining.

Trading recommendations:

Sell the pair with a local target of 1.1140 after the price crosses 1.1200.

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

AUDCAD 

A Pin Bar reversal pattern has formed on the daily timeframe. A bearish divergene has formed on Awesome Oscillator, while Stochastic Oscillator signals overboughtness.

Trading recommendations:

Sell below 0.9300.

Stop loss: 0.9410.

Target levels: 0.9187; 0.9120.

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

#SURGUT

The stock is trading in the support level range of 39.00. Stochastic Oscillator indicator signals a change from a downtrend to an uptrend by crossing moving averages in the oversold level range (20). A descending truncated pattern of the M30 level has formed. 

Trading reccomendations:

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

Stop loss: 39.00.

Target levels: 40.90; 42.40.

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

The Australian dollar rose during the Asian session to witness its highest since last January 3 against the US dollar, following the developments and economic data that it announced on the Australian economy and on the cusp of developments and economic data expected today by the US economy and in the shadows and pricing of investors to reopen global economies against Protests escalated in the United States recently.

At exactly 02:20 AM GMT, the Australian dollar pair rose against the US dollar by 0.52% to 0.6933 levels compared to the opening levels at 0.6897, after the pair achieved its highest level in five months at 0.6983, while the pair achieved its lowest during the trading session at 0.6887.

On the Australian economy, we have followed the release of the AIG construction reading, which showed the contraction shrank to 24.9 compared to 21.6 last April, and this came before we witnessed the speech of the Assistant Governor of the Bank of Australia's financial system, Michael Pollock, in a speech Under "Panic, Pandemic and Payment Preferences" in the evolving webcast chain.

Up to the disclosure of housing market data with the issuance of the building permits reading, which indicated a decline in the decline to 1.8% compared to 2.6% last March, contrary to expectations that the decline will widen to 10.8%, in conjunction with the disclosure of the GDP reading, which showed contraction 0.3% in the first quarter compared to 0.5% growth in the fourth quarter, beating expectations for a 0.4% contraction.

In the same context, the annual reading of GDP showed that growth slowed to 1.4%, in line with expectations, compared to 2.2% in the fourth quarter, and that comes hours after monetary policy makers at the Reserve Bank of Australia yesterday kept the short-term benchmark interest rates unchanged. It is reported for the third consecutive meeting at 0.25%, which is the lowest level ever, which came in line with expectations.

On the other hand, investors are currently awaiting by the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the loss of 9,000 jobs compared to the loss of 20,236 thousand jobs in April, and this comes hours before the disclosure after Tomorrow, Friday, the monthly report for jobs except agricultural and unemployment rates, in addition to the hourly rate for the month of May.

This comes before we witness the final reading of the Markit Service Supply Institute index by Markit for the United States, which may reflect a contraction of shrinkage to 37.2 compared to a value of 36.9 in the initial reading for the past month and against a contraction at 26.7 in April, and before revealing a reading of the index Factory orders, which may show a widening decline to 13.7% compared to 10.3 in March.

To reveal the reading of the Institute for Service Supply index that is important in that the service sector represents more than two-thirds of the gross domestic product of the United States, which may explain the contraction shrinkage to 44.2 compared to 41.8 in April, otherwise, according to the latest figures issued by The World Health Organization has increased the number of cases infected with the Coronavirus by more than 6.19 million, and 376,320 people have died in 216 countries.

In another context, the markets assessed the possibilities of the US military deploying in the United States to suppress the strikes and violent demonstrations in the cities over the killing of George Floyd of African descent at the hands of the American police, after the curfew failed to contain the massive protests that included violence and looting with the demonstrators taking to the streets after weeks Closings during the Corona pandemic, which caused millions to lose their jobs.

Technical analysis

The Australian dollar versus the US dollar pair opened trading today with a strong rise to succeed in achieving our extended target 0.6900, as it penetrated it to settle above it now, which supports the chances of the continuation of the bullish trend within the upward channel that appears in the picture, noting that the goal of this channel extends to 0.7200.

Therefore, we will be awaiting further increase during the upcoming period, noting that a break of 0.6884 will push the price for a temporary bearish correction before resuming the suggested bullish wave.

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, rose during the Asian session, clarifying its highest level since March 16, and was preparing for its longest daily gains march since September 2009 against the US dollar, on the cusp of developments and economic data expected today Wednesday by the economies of the euro area and the economy The American is the largest economy in the world.

At exactly 04:52 AM GMT, the euro pair rose against the US dollar by 0.31% to 1.1205 levels, compared to the opening levels at 1.1170 after the pair achieved its highest level during the trading session at 1.1211, while achieving the lowest at 1.1167.

The markets are looking by Spain, the fourth euro zone economy, to reveal the services PMI reading, which may show the contraction shrinking to 24.7 compared to 7.1 last April, before we witness from Italy the third largest economy in the region, the reading of the index itself, which may It also reflected a contraction in contraction of 26.2 compared to 10.8 in April.

This comes before revealing the final reading of the services PMI for France, the second largest economy in the euro area and Germany, which may show the stability of the contraction at 29.4 and 31.4 unchanged from the initial reading for the past month and against a contraction at 10.2 and 16.2 in April, before that Germany is also witnessing the release of the unemployment change index, which may reflect an increase of about 188 thousand, compared to a rise of 373 thousand in April.

Investors are also awaiting the disclosure of labor market data and the release of the unemployment rate reading for Italy, which may explain an increase to 9.2% compared to 8.4% in April, before witnessing the economies of the euro area as a whole. Disclosure of the final reading of the services PMI, which may explain the stability of deflation At 28.7, unchanged from the previous reading for the past month and against a contraction at 12.0 in April.

To reveal the inflation data for the euro area economies with the release of the producer price index, which is an initial indication of inflationary pressures, which may reflect the widening of the deflation to 1.8% compared to 1.5% in March, as the annual reading of the same indicator may show the widening of the deflation to 4.0% compared to 2.8 %, In conjunction with the release of the unemployment rates reading for the economies of the region as a whole, which may reflect an increase to 8.2%, compared to 7.4% in April.

On the other hand, investors are currently awaiting by the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the loss of 9,000 jobs compared to the loss of 20,236 thousand jobs in April, and this comes hours before the disclosure after Tomorrow, Friday, the monthly report for jobs except agricultural and unemployment rates, in addition to the hourly rate for the month of May.

This comes before we witness the final reading of the Markit Service Supply Institute index by Markit for the United States, which may reflect a contraction of shrinkage to 37.2 compared to a value of 36.9 in the initial reading for the past month and against a contraction at 26.7 in April, and before revealing a reading of the index Factory orders, which may show a widening decline to 13.7% compared to 10.3 in March.

To reveal the reading of the Institute for Service Supply index that is important in that the service sector represents more than two-thirds of the gross domestic product of the United States, which may explain the contraction shrinkage to 44.2 compared to 41.8 in April, otherwise, according to the latest figures issued by The World Health Organization has increased the number of cases infected with the Corona virus by more than 6.19 million, and 376,320 people have died in 216 countries.

In another context, the markets assessed the possibilities of the US military deploying in the United States to suppress the strikes and violent demonstrations in the cities over the killing of George Floyd of African descent at the hands of the American police, after the curfew failed to contain the massive protests that included violence and looting with the demonstrators taking to the streets after weeks Closings during the Corona pandemic, which caused millions to lose their jobs.

It is worth noting that these extended strikes taking place in America have reinforced concern about the coronary virus outbreak more broadly among these human groupings and restored concerns about the chances of recovery for the economy that is just emerging from the Great Depression in the thirties of the last century, and Trump on Monday criticized the deans of the states American, while describing them as weak and that they must take more stringent measures in dealing with the protests.

Technical analysis

The euro against the dollar succeeded in confirming the breach of the 1.1170 level after closing the daily candle above it, to support the continuation of the bullish trend scenario effectively during the coming period, opening the way towards heading towards our next main target that reaches 1.1295.

Therefore, we await further gains today with support from the EMA50, noting that stability above 1.1170 is important to continue the suggested bullish direction.

The expected trading range for today is between 1.1100 support and 1.1290 resistance.

Expected trend for today: bullish.

Gold prices fluctuated in a narrow range tilted towards the decline during the Asian session, to witness its bounce for the third session from the top since May 18, disregarding the decline in the US dollar index to its lowest since March 13, according to the inverse relationship between them on the cusp of developments and economic data expected today Wednesday by the US economy, the world's largest economy, and in the shadows and pricing of investors to reopen global economies in exchange for tensions between Washington and Beijing, and the protests in the United States.

At exactly 03:32 am GMT, gold futures contracts for next August delivery fell 0.13% to trade at $ 1,731.50 an ounce compared to the opening at $ 1,733.70 per ounce, knowing that the contracts started the session’s trading on a falling price gap after it concluded trading Yesterday at $ 1,734.00 an ounce, while the US dollar index fell 0.11% to 97.46 compared to the opening at 97.57.

Investors are currently awaiting by the US economy the disclosure of preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the loss of 9,000 thousand jobs compared to the loss of 20,236 thousand jobs last April, and this comes hours before the disclosure after tomorrow, Friday On the monthly report of jobs except agricultural and unemployment rates in addition to the hourly rate for the month of May.

This comes before we witness the final reading of the Markit Service Supply Institute index by Markit for the United States, which may reflect a contraction of shrinkage to 37.2 compared to a value of 36.9 in the initial reading for the last month and against a contraction at 26.7 in April, and before the disclosure of the index reading Factory orders, which may show a widening decline to 13.7% compared to 10.3 last March.

To reveal the reading of the Institute for Service Supply index that is important in that the service sector represents more than two-thirds of the gross domestic product of the United States, which may explain the contraction shrinkage to 44.2 compared to 41.8 in April, otherwise, according to the latest figures issued by The World Health Organization has increased the number of cases infected with the Coronavirus by more than 6.19 million, and 376,320 people have died in 216 countries.

In another context, the markets assessed the possibilities of the US military deploying in the United States to suppress the strikes and violent demonstrations in the cities over the killing of George Floyd of African descent at the hands of the American police, after the curfew failed to contain the massive protests that included violence and looting with the demonstrators taking to the streets after weeks Closings during the Corona pandemic, which caused millions to lose their jobs.

It is worth noting that these extended strikes taking place in America have reinforced concern about the coronary virus outbreak more broadly among these human groupings and restored concerns about the chances of recovery for the economy that is just emerging from the Great Depression in the thirties of the last century, and Trump on Monday criticized the deans of the states American, while describing them as weak and that they must take more stringent measures in dealing with the protests.

Technical analysis

The price of gold made negative trades yesterday to approach the pivotal support 1719.00, and fluctuates around the EMA50 now, noting that the stochastic indicator has rid of its negative momentum and reaches the oversold areas in the sale, waiting for the price to be stimulated to resume the expected bullish trend for the next period, which targets a level 1764.00 tentatively.

Thus, the bullish trend scenario will remain valid and active for today, noting that breaching 1719.00 will push the price to test the most important support at 1691.10 before any new positive attempt.

The expected trading range for today is between 1715.00 support and 1760.00 resistance.

Expected trend for today: bullish.

The fluctuation of the US dollar in a narrow range tilted towards the decline during the Asian session to witness its rebound from above since April 9 against the Japanese yen amid the scarcity of economic data by the Japanese economy and on the cusp of developments and economic data expected today Wednesday by the US economy, the largest economy in the world Investors are preparing to reopen global economies in exchange for escalating protests in the United States.

At exactly 05:51 am GMT, the US dollar pair fell against the Japanese yen by 0.11% to 108.56 levels compared to the opening levels at 108.68 after the pair achieved its lowest level during the trading session at 108.42, while achieving the highest in two months at 108.85.

Investors are currently awaiting by the US economy the disclosure of preliminary data for the labor market with the release of the index of change in private-sector jobs, which may reflect the loss of 9,000 thousand jobs compared to the loss of 20,236 thousand jobs last April, and this comes hours before the disclosure after tomorrow, Friday On the monthly report of jobs except agricultural and unemployment rates in addition to the hourly rate for the month of May.

This comes before we witness the final reading of the Markit Service Supply Institute index by Markit for the United States, which may reflect a contraction of shrinkage to 37.2 compared to a value of 36.9 in the initial reading for the last month and against a contraction at 26.7 in April, and before the disclosure of the index reading Factory orders, which may show a widening decline to 13.7% compared to 10.3 last March.

To reveal the reading of the Institute for Service Supply index that is important in that the service sector represents more than two-thirds of the gross domestic product of the United States, which may explain the contraction shrinkage to 44.2 compared to 41.8 in April, otherwise, according to the latest figures issued by The World Health Organization has increased the number of cases infected with the Coronavirus by more than 6.19 million, and 376,320 people have died in 216 countries.

In another context, the markets assessed the possibilities of the US military deploying in the United States to suppress the strikes and violent demonstrations in the cities over the killing of George Floyd of African descent at the hands of the American police, after the curfew failed to contain the massive protests that included violence and looting with the demonstrators taking to the streets after weeks Closings during the Corona pandemic, which caused millions to lose their jobs.

Technical analysis

The dollar pair rose against the yen strongly yesterday, breaching the 108.00 level and resuming the bullish track, reinforcing expectations of achieving more rise during the coming period, as it moves inside an intraday bullish channel that appears in the image, which supports the chances of achieving our main positive objective awaited at 109.22.

Thus, the bullish trend scenario will remain valid for the upcoming period, which may be preceded by some temporary bearish slope with the effect of stochastic negative negativity, noting that stability above 107.35 is important for the continuation of the suggested rise.

The expected trading range for today is between 107.70 support and 109.22 resistance.

Expected trend for today: bullish.