Analytic reviews

GOLD 

The support level 1720.0 is holding back sellers. A downward truncated M30 level pattern has formed, it ended with the breakout of an inclined channel. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversoldness. The breakout of 1729.40 will result in the formation of an ascending pattern within the wave (C) of the H4 level.

Trading recommendations:

Buy above 1729.40.

Stop loss: 1720.0.

Target levels: 1744.0; 1753.0.

If the price falls to the support level of 1720.0, cancel the trading plan.

The GOLD rate online: monitor the movement of an instrument in real time.

EURUSD 

The pair is at 1.1200, supported by the strong growth in demand for risk assets amid the new signs of the global economic growth: recent manufacturing data in Europe, Asia, and the US. The pair may continue to consolidate if May’s unemployment data to be released today in Germany isn’t worse than the expected 200,000 after April’s 373,000.

Technical side:

The price is at the upper Bollinger band, above SMA 5 and SMA 14. RSI entered the overbought zone, but continues to grow. Stoch are also in the overbought zone.

Trading recommendations:

If the pair fixes above 1.1200 amid the positive news from Germany, it will continue to grow first to 1.1240, and then to 1.1280.

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

#AIR

Stock markets are showing strong growth amid the easing of quarantine measures.

Airbus Group shares look undervalued in comparison with other companies, having regained only a small part of the lost positions. The support level of 48.18 with a bullish divergence has held back sellers. Stochastic Oscillator shows a steady growth from the oversold zone.

Trading recommendations:

Buy above 64.22.

Stop Loss: 57.00.

Target levels: 74.60; 90.00.

The #AIR shares 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 since January 27 against the US dollar after the economic developments and data that were adopted today by the Australian economy and on the cusp of the decisions and directions of the Reserve Bank of Australia and amid the scarcity of data Economic by the American economy the largest economy in the world.

At exactly 02:35 am GMT, the Australian dollar pair declined against the US dollar by 0.25% to 0.6781 levels compared to the opening levels at 0.6798, after the pair achieved its lowest level during the trading session at 0.6777, while the pair achieved its highest in five months when 0.6813.

This followed us on the Australian economy, the release of the current account reading, which showed the widening of the surplus to 8.4 billion Australian dollars compared to 1.7 billion Australian dollars in the fourth quarter, outperforming the expectations that indicated the expansion of the surplus to 6.3 billion Australian dollars, and this came amid looking forward to the activities of the Bank of Australia meeting The Reserve and the Australian Central Bank revealed the interest rate statement amid expectations to hold it at its lowest level ever at 0.25%.

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

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

Technical analysis

The Australian dollar versus the US dollar made a positive trading yesterday, exceeding the level of 0.6774 and settling above it, which supports the expectations of the extension of the bullish wave in the short and medium term, with a reminder that our next stop reaches 0.6900.

Thus, the bullish trend scenario will remain valid and active for the upcoming period, noting that a break of 0.6745 may press the price to test 0.6684 then 0.6645 areas before any new attempt to rise.

The expected trading range for today is between 0.6720 support and 0.6850 resistance.

Expected trend for today: bullish.

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 17 against the US dollar on the cusp of developments and economic data expected today by the economies of the euro area and amid the scarcity of economic data by the economy, The American is the largest economy in the world.

At 05:54 am GMT, the euro against the US dollar fell 0.03% to 1.1133 levels, compared to the opening levels at 1.1136 after the pair achieved its lowest level during the trading session at 1.1119, while achieving the highest at 1.1139.

French markets, the second largest economy in the eurozone, are looking to France for the release of the Treasury budget for May before we witness by Spain, the fourth largest economy in the region, the release of the change in unemployment, which may show a rise of 230.3 thousand compared to a rise of 282.9 thousand in April. The past and this coincides with the National Day in Italy, the third largest economy in the euro area.

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

It is worth noting that these expanded strikes taking place in America have strengthened concern about the coronary virus outbreak more broadly among these human groupings and restored fears about the chances of recovery for the economy that is just emerging from the Great Depression in the thirties of the last century. 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 fluctuates around the level of 1.1125, and needs a strong positive incentive that supports the chances of resuming the expected bullish direction for the coming period, which aims to test the 1.1170 level initially.

Overall, we continue to favor the bullish trend for the upcoming period with price stability above 1.1067, supported by the EMA50 that carries the price from below, noting that breaching the target level will extend the upside wave to reach 1.1295 as the next main station.

The expected trading range for today is between 1.1070 support and 1.1230 resistance.

Expected trend for today: bullish.

Gold prices fluctuated in a narrow range tilted to the upside during the Asian session, while neglecting the positive stability. Opening world economies against tensions between Washington and Beijing and the protests in the United States.

At exactly 03:55 AM GMT, gold price futures for next August delivery rose 0.10% to trade at $ 1,752.10 per ounce compared to the opening at $ 1,750.30 per ounce, while the US dollar index rose 0.04% to 97.88 compared to the opening at 97.84.

We have followed the report, which touched upon the fact that Chinese officials asked state-owned agricultural companies to stop buying soybeans and pork from the United States, against the backdrop of US President Donald Trump's announcement last Friday that he would start taking measures to eliminate the special treatment of Hong Kong and punish officials in China and Hong Kong in addition to tracking Chinese companies operating in America.

This comes in the shadow of escalating tensions between Washington and Beijing in the wake of China’s approval last Thursday of a very interesting national security bill for Hong Kong, which threatens the hard-won trade deal between them, and it is reported that Trump chose last year to silence the Hong Kong democratic protests. Priority was given to a trade agreement with his Chinese counterpart, Xi Jinping, but relations later deteriorated, particularly with the Corona pandemic.

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

Technical analysis

Gold price shows calm positive trading to move away from the EMA50, reinforcing expectations of the continuation of the bullish trend in the intraday and short term, pending testing the 1764.00 level which represents our first main goal, with a reminder that breaching this level will push the price to 1810.00 as a next station.

Thus, we will continue to favor the bullish trend for the upcoming period, noting that a break of 1719.00 will press the price to test the most important support at 1691.00 before any new positive attempt.

The expected trading range for today is between 1720.00 support and 1764.00 resistance.

Expected trend for today: bullish.

The fluctuation of the US dollar in a narrow range tilted to the upside during the Asian session against the Japanese yen, following the developments and economic data that it followed from the Japanese economy, amid the scarcity of economic data by the US economy, the largest economy in the world, and the pricing of investors to reopen global economies against the escalation of protests in the United States of America Recently.

At exactly 06:09 AM GMT, the US dollar pair rose against the Japanese yen by 0.12% to 107.71 levels compared to the opening levels at 107.59 after the pair achieved its highest level during the trading session at 107.75, while achieving the lowest at 107.51.

We have followed about the Japanese economy revealing the annual reading of the monetary base index by the Bank of Japan, which showed an acceleration of growth to 3.9% compared to 2.3% last April, outperforming expectations that indicated an acceleration of the growth rate to 2.6%, and it is reported that the Central Bank The Japanese have started using this indicator as their main operating objective for the monetary base scheme since April of 2013.

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

It is worth noting that these expanded strikes taking place in America have strengthened concern about the coronary virus outbreak more broadly among these human groupings and restored fears 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 yesterday criticized sharp criticism of state deans American, while describing them as weak and that they must take more stringent measures in dealing with the protests.

Technical analysis

The lateral range dominates the trading of the dollar pair against the yen as shown in the picture, and as long as the price is above 107.35, our bullish expectations will remain valid for the coming period, supported by the moving average 50, waiting for a positive incentive that contributes to pushing the price to breach the 108.00 level to facilitate the task of heading towards our main goal Next awaited at 109.22.

The expected trading range for today is between 107.00 support and 108.50 resistance.

Expected trend for today: bullish.

NZDUSD 

The pair is correcting downwards after a noticeable rise caused by the optimistic outlook for the global economic recovery as countries lift lockdowns. After a possible slight correction, expect the pair to grow further.

Technical side:

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI has turned down and is declining. Stoch also turned around and are coming out of the overbought zone.

Trading recommendations:

There is a high probability of a 23% Fibonacci correction to 0.6220 before the pair resumes growth to 0.6365.

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

#TATN

Oil continues to rise in price amid the production cuts and increasing demand.

The company’s shares are trading in the range of the lower boundary of the flat range. Breaking through the resistance level of 552.00 will result in the formation of an ascending pattern of 1-2-3. Also, Stochastic Oscillator signals oversold.

Trading recommendations:

Buy above 552.00.

Stop loss: 534.00.

Target levels: 573.50; 615.00.

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

EURGBP 

The overall trend is upward. The currency pair is trading in the range of the round important level 0.8900. Breaking through the round secondary level of 0.8920 will result in the formation of an ascending pattern of 1-2-3. Stochastic Oscillator indicator signals oversoldness.

Trading recommendations:

Buy above the round secondary level of 0.8920.

Stop loss under the round secondary level of 0.8880.

Target levels:0.8980; 0.9020; 0.9050.

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