Analytic reviews

Gold prices fluctuated in a narrow range tilted towards the decline during the Asian session to reflect the resumption of its rebound from its highest since April 14, when it tested its highest since the fifth of October 2012, condoning the decline of the US dollar index for the fourth consecutive session, explaining the lowest for it Since March 30, according to the inverse relationship between them.

This comes on the cusp of developments and economic data expected today by the US economy, which includes the participation of Federal Reserve Governor Jerome Powell in a virtual panel discussion at the Griswold Center for Economic Policy Studies at Princeton University in New Jersey and the press conference of US President Donald Trump on China in Washington.

At exactly 04:21 am GMT, gold futures contracts for next August delivery decreased 0.01% to trade at $ 1,732.60 per ounce compared to the opening at $ 1,732.70 per ounce, knowing that the contracts started the trading session on an upward price gap after it concluded trading Yesterday at $ 1,728.30 an ounce, while the US dollar index fell 0.15% to 98.35 compared to the opening at 98.50.

Investors are currently awaiting by the US economy, the largest economy in the world, to disclose spending and personal income data, which may reflect the widening decline in personal spending to 12.6% compared to 7.5% last March, and the expansion of personal income to 7.0% compared to 2.0% in March March, as the reading of the core personal consumption expenditures price index may explain the decline to 0.3% compared to 0.1% in March.

This comes in conjunction with the release of the merchandise trade balance index, which may explain the widening of the deficit to $ 64.8 billion compared to $ 64.2 billion in March, in conjunction with the release of the initial reading of the wholesale inventory index, which may reflect a decline in the decline to 0.5% compared to 0.8% In March, before the Chicago PMI reading was revealed, which may reflect a contraction of 40.1 versus 35.4 in April.

Up to the disclosure of the final reading of the University of Michigan's index of consumer confidence, which may show the stability of the expansion at a value of 73.7, little changed from what it was in the preliminary reading of the previous month and against 71.8 in April, and this comes before the expected speech of the Federal Reserve Governor Jerome Powell and the US President Donald Trump's press conference on China, the world's second-largest economy.

Technical analysis

The price of gold begins today's trading with an upward tendency to approach the resistance of the descending sub-channel, which is now down to 1725.00, and the price needs to get a positive incentive that contributes to pushing trades to breach the mentioned level and open the way for the resumption of the main bullish trend, whose following targets are located at 1764.00 then 1810.00.

In general, we will continue to favor the bullish trend for the next period unless the level of 1691.10 is broken and stability below it, as breaking it will put the price under more downside corrective pressure whose next target is located at 1646.00.

The expected trading range for today is between 1700.00 support and 1750.00 resistance.

Expected trend for today: bullish.

The US dollar fell during the Asian session against the Japanese yen after the developments and economic data that it followed about the Japanese economy and on the threshold of economic developments and data expected on Friday by the American economy, which includes the participation of Federal Reserve Governor Jerome Powell in a hypothetical discussion at the University of Griswold Center for Economic Policy Studies at the University of Princeton in New Jersey and US President Donald Trump's press conference in Washington on China.

At exactly 06:06 AM GMT, the US dollar pair declined against the Japanese yen by 0.49% to 107.12 levels compared to the opening levels at 107.65 after the pair achieved its lowest level since May 18 at 107.09, while it achieved its highest during trading The session is at 107.72.

On the Japanese economy, we have followed the release of the annual reading of the Tokyo Consumer Price Index, which showed an acceleration of growth to 0.4% compared to 0.2% in the previous annual reading of last April, while the substantial annual reading of the same index, which excludes fresh food, showed a growth of 0.2% against contraction 0.1%, contrary to expectations for a contraction of 0.6%.

This came before we witnessed the disclosure of the industrial sector data for the third largest industrial country in the world with the release of the initial reading of the industrial production index, which showed the widening of the decline to 9.1% compared to 3.7% last March, worse than the expectations that indicated the expansion of the decline to 5.5%, The annual reading of the same index also showed that the decline widened to 14.4% compared to 5.5% in the previous annual reading for the month of March.

It also came in conjunction with the release of the seasonally adjusted reading of the retail sales index, which reflected the widening of the decline to 9.6% compared to 4.6% in March, and the annual reading of the same index indicated the widening of the decline to 13.7% compared to 4.7% in March, worse than the expectations that She pointed to the widening of the decline to 11.2%, with the reading of the unemployment rate indicator showing an increase to 2.6% compared to 2.5% in March, beating expectations of 2.7%.

Up to the disclosure of the consumer confidence index reading, which showed an increase to 24.0 compared to 21.6 in April, contrary to expectations at 21.3, in conjunction with the disclosure of housing market data with the release of the annual reading of the index of start-up, which showed the decline widened to 12.9% Against 7.6% in March, worse than expectations for the decline to 12.0%.

On the other hand, investors are currently awaiting by the US economy, the largest economy in the world, to disclose spending and personal income data, which may reflect the widening decline in personal spending to 12.6% compared to 7.5% in March, and the expansion of personal income to 7.0% compared to 2.0% in March, as the reading of the core personal consumption expenditures price index may explain the decline to 0.3% compared to 0.1% in March.

This comes in conjunction with the release of the merchandise trade balance index, which may explain the widening of the deficit to $ 64.8 billion compared to $ 64.2 billion in March, in conjunction with the release of the initial reading of the wholesale inventory index, which may reflect a decline in the decline to 0.5% compared to 0.8% In March, before the Chicago PMI reading was revealed, it may reflect a contraction of 40.1 versus 35.4 in April.

Up to the disclosure of the final reading of the University of Michigan's index of consumer confidence, which may show the stability of the expansion at a value of 73.7, little changed from what it was in the preliminary reading of the previous month and against 71.8 in April, and this comes before the expected speech of the Federal Reserve Governor Jerome Powell and the US President Donald Trump's press conference on China.

Technical analysis

The dollar against the yen trades bounced lower after approaching the side-range resistance that confines the last trades as it appears in the picture, to start testing the pivotal support 107.35 now, which requires attention from the upcoming trades, as breaking this level will stop the expected upside in the intraday and short term and put the price Under negative pressure, its targets start by visiting the 106.44 level.

The price needs to breach 107.68 then 108.00 levels to facilitate the mission towards the next main target for the expected bullish wave at 109.22.

The expected trading range for today is between 106.80 support and 108.20 resistance.

Expected trend for today: bullish.

EURNZD

The currency pair is trading in the range of 365 and 135 moving averages. The trend is downward. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals overboughtness.

Trading recommendations:

Sell when a descending pattern is formed, where the wave (aC) breaks through the inclined channel of the ascending (blue) pattern, completing it.

Stop loss for the local maximum (1.7900).

Target levels: 1.7650; 1.7480.

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

#SURGUT

The stock is trading in the range of the lower border of the ascending price channel. A downward truncated pattern and bullish divergence are forming. The completion of the downward pattern will result in the continuation of the upward movement within the ascending price channel.

Trading recommendations:

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

Stop loss: 39.40.

Target levels: 42.40; 44.40.

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

The Australian dollar fluctuated in a narrow range slanting back down during the Asian session to witness its bounce for the second session from the top since March 9, when it tested its highest since February 20 against the US dollar after the Reserve Bank of Australia Governor Philip Lowe testified before the selection committee The Australian Senate on the Coronavirus and the economic data that it followed about the Australian economy and on the cusp of developments and economic data expected Thursday by the US economy, the largest economy in the world.

At exactly 02:34 am GMT, the Australian dollar pair fell against the US dollar by 0.02% to 0.6621 levels compared to the opening levels at 0.6622, after the pair achieved its lowest level during the trading session at 0.6612, while the pair achieved its highest at 0.6635.

This has followed us, and the Governor of the Australian Central Bank, Philip Lowe, has just expressed before the Australian Senate Selection Committee that the decline in jobs may push unemployment rates to 15% now compared to 20% as the first fear, with his assertion that the unusual negative interest rates are not likely and that he is also It is not likely to raise interest for a few years, and it may take a prolonged instinct to reach full employment rates.

This came, before we also witnessed the Australian economy’s release of the reading of the private capital expenditures index, which indicated a decline in the decline to 1.6% compared to the previous reading for the fourth quarter and expectations at 2.6%. The minutes of the Bank of Australia’s recent reserve meeting stated last week that the speed and timing of the economic recovery Unconfirmed that he is ready to increase his purchases of bonds.

On the other hand, investors are currently awaiting by the US economy the disclosure of the second reading of the GDP index, which may confirm the contraction of the largest economy in the world by 4.8% during the first quarter, little changed from the previous initial reading and against a growth of 2.1% in the fourth quarter, while The second reading of the same index measured in prices shows the stability of growth at 1.3%, with little change from the first reading and the previous reading for the previous quarter.

This comes in conjunction with the disclosure of the reading of the durable goods orders index, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product in the United States of America, which may reflect the widening of the decline to 19.0% compared to 14.7% last March, as may appear The substantial reading of the same index extended the decline to 14.8% compared to 0.4% in March.

This also comes in conjunction with the issuance of the aid claims index for the past week on May 22, which may reflect a decline of 338 thousand applications to 2,100 thousand applications compared to 2,438 thousand requests in the previous reading, while the reading of the continuing benefit requests for the past week may appear in 15 From this month, an increase of 677 thousand requests to 25,750 thousand requests compared to 25,073 thousand requests.

This comes before we witness the disclosure of housing market data with the release of existing home sales, which may show a decline in decline to 15.0% compared to 20.8% in March, leading to the participation of FOMC members and New York Fed Chairman John Williams in a hypothetical discussion. At Stony Brook University Business School on Long Island.

Technical analysis

The Australian dollar versus the US dollar presented negative trades yesterday after facing strong resistance at 0.6685, to test the support of the main bullish channel that appears in the picture, where the EMA50 meets with this support to add more strength to it, while the stochastic starts providing positive signals now.

Consequently, we believe that opportunities are available to trade positively in the upcoming sessions, and targets start by crossing 0.6685 to open the way towards heading towards 0.6774 as a next station, noting that the continuation of the expected rise requires stability above 0.6565.

The expected trading range for today is between 0.6550 support and 0.6685 resistance.

Expected trend for today: bullish.

The euro currency fluctuated in a narrow range tilted to the upside during the Asian session to witness its highest since early April against the US dollar on the threshold of developments and economic data expected Thursday by the economies of the euro area and the US economy the largest economy in the world and in the shadows of market pricing to reopen many It is one of the world economies and hopes for a vaccine for the Coronavirus.

At 05:06 am GMT, the euro pair rose against the US dollar by 0.02% to 1.1008 levels, compared to the opening levels at 1.1006 after the pair achieved its highest level in two months at 1.0953, while achieving the lowest during the trading session at 1.1004.

The markets are looking to the largest eurozone economies, Germany, to disclose inflation data with the release of the first reading of the consumer price index, which may reflect a slowdown in growth to 0.1% compared to 0.4% last April, before we witnessed by Spain, the fourth-largest economy in the region. Also, the annual reading of the same index, which may reflect the widening contraction to 1.0% compared to 0.7% in April.

On the other hand, investors are currently awaiting by the US economy the disclosure of the second reading of the GDP index, which may confirm the contraction of the largest economy in the world by 4.8% during the first quarter, little changed from the previous initial reading and against a growth of 2.1% in the fourth quarter, while The second reading of the same price-measured index may show the stability of growth at 1.3%, little changed from the first reading and the previous reading for the previous quarter.

This comes in conjunction with the disclosure of the reading of the durable goods orders index, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product in the United States of America, which may reflect the widening of the decline to 19.0% compared to 14.7% last March, as may appear The substantial reading of the same index extended the decline to 14.8% compared to 0.4% in March.

This also comes in conjunction with the issuance of the aid claims index for the past week on May 22, which may reflect a decline of 338 thousand applications to 2,100 thousand applications compared to 2,438 thousand requests in the previous reading, while the reading of the continuing benefit requests for the past week may appear in 15 From this month, an increase of 677 thousand requests to 25,750 thousand requests compared to 25,073 thousand requests.

This comes before we witness the disclosure of housing market data with the release of existing home sales, which may show a decline in decline to 15.0% compared to 20.8% in March, leading to the participation of FOMC members and New York Fed Chairman John Williams in a hypothetical discussion. At Stony Brook University Business School on Long Island.

Technical analysis

The EURUSD pair confirmed the breach of the 1.0966 level after the daily candle closed above it, to activate the bullish trend scenario on the intraday basis, opening the way for a visit to the 1.1067 level as a next main station.

Thus, the bullish bias will be expected for today, supported by the EMA50 that carries the price from below, noting that the continuation of the suggested bullish trend requires stability above 1.0966.

The expected trading range for today is between 1.0950 support and 1.1110 resistance.

Expected trend for today: bullish.

Gold prices fluctuated in a narrow range tilted to the upside during the Asian session, to witness its bounce for the second session from the lowest since May 7, condoning the rise of the US dollar index, indicating its bounce to the second session from the lowest since the fourth of this month, when he tested the lowest for 30 From March, according to the inverse relationship between them, on the cusp of developments and economic data expected on Thursday by the US economy, and as investors awaited the reopening of many global economies against tensions between Washington and Beijing.

At exactly 04:17 AM GMT, gold futures contracts for next August delivery rose 0.10% to trade at $ 1,726.80 per ounce compared to the opening at $ 1,725.00 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded trading Yesterday at $ 1,726.80 an ounce, while the US dollar index rose 0.04% to 98.96 compared to the opening at 98.92.

We followed a short while ago, Reserve Bank of Australia Governor Philip Lowe testified before the Australian Senate Selection Committee about the Coronavirus that "the economic downturn may not be as severe as previously thought", which in one way or another boosted investor appetite for risk and subsequently supported Asian stock indices performed amid optimism that many global economies have reopened and that the worst is over.

On the other hand, investors are currently awaiting by the US economy the disclosure of the second reading of the GDP index, which may confirm the contraction of the largest economy in the world by 4.8% during the first quarter, little changed from the previous initial reading and against a growth of 2.1% in the fourth quarter, while The second reading of the same price-measured index may show the stability of growth at 1.3%, little changed from the first reading and the previous reading for the previous quarter.

This comes in conjunction with the disclosure of the reading of the durable goods orders index, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product in the United States of America, which may reflect the widening of the decline to 19.0% compared to 14.7% last March, as may appear The substantial reading of the same index extended the decline to 14.8% compared to 0.4% in March.

This also comes in conjunction with the issuance of the aid claims index for the past week on May 22, which may reflect a decline of 338 thousand applications to 2,100 thousand applications compared to 2,438 thousand requests in the previous reading, while the reading of the continuing benefit requests for the past week may appear in 15 From this month, an increase of 677 thousand requests to 25,750 thousand requests compared to 25,073 thousand requests.

This comes before we witness the disclosure of housing market data with the release of existing home sales, which may show a decline in decline to 15.0% compared to 20.8% in March, leading to the participation of FOMC members and New York Fed Chairman John Williams in a hypothetical discussion. At Stony Brook University Business School on Long Island.

Otherwise, yesterday we followed up and told US Secretary of State Mike Pompeo the US Congress that Hong Kong was no longer independent from China, which raised questions about favorable trade relations for the Special Administrative Region with the United States of America, and added to concerns about Washington's possible economic sanctions against Chinese officials. This comes in the wake of the Chinese parliament passing the new National Security Law that sparked protests in Hong Kong.

We also followed yesterday, Wednesday, the US House of Representatives passing legislation condemning China to arrest and torture Uighur Muslims in the Xinjiang region of western China, and it is reported that US President Donald Trump expressed Tuesday that he will announce his administration's response to China’s actions by the end of the week, and Washington is currently considering imposing sanctions on officials The Chinese Treasury can impose transaction controls and freeze the assets of Chinese officials and companies.

Technical analysis

The price of gold shows noticeable positive trading after approaching our awaited target at 1691.10 in the previous sessions, heading towards a possible test of the resistance of the descending intraday channel that appears in the image, which is now at 1729.30, so that the bullish bias is likely during the upcoming sessions, with the need to monitor the price behavior upon arrival The mentioned level, as its breach represents the key of resuming the main bullish trend and stopping the down corrective wave.

On the other hand, it should be noted that a break of 1691.10 will stop the suggested rally and put the price under more negative pressure targeting 1646.00 level as a next corrective station.

The expected trading range for today is between 1700.00 support and 1730.00 resistance.

Expected trend for today: bullish.

The fluctuation of the US dollar in a narrow range slanting up during the Asian session 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 in the shadow of market pricing to reopen many global economies and hopes To reach a vaccine for Coronavirus.

At exactly 05:59 am GMT, the US dollar pair rose against the Japanese yen by 0.10% to 107.85 levels compared to the opening levels at 107.72 after the pair achieved its highest level during the trading session at 107.90, while achieving the lowest at 107.70.

Investors are currently awaiting by the American economy the disclosure of the second reading of the GDP index, which may confirm the contraction of the largest economy in the world by 4.8% during the first quarter, little changed from the previous initial reading and against a growth of 2.1% in the last fourth quarter, while the reading may clarify The second of the same index, measured by prices, stabilized the growth at 1.3%, little changed from the initial reading and the previous reading for the previous quarter.

This comes in conjunction with the disclosure of the reading of the durable goods orders index, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product in the United States of America, which may reflect the widening of the decline to 19.0% compared to 14.7% last March, as may appear The substantial reading of the same index extended the decline to 14.8% compared to 0.4% in March.

This also comes in conjunction with the issuance of the aid claims index for the past week on May 22, which may reflect a decline of 338 thousand applications to 2,100 thousand applications compared to 2,438 thousand requests in the previous reading, while the reading of the continuing benefit requests for the past week may appear in 15 From this month, an increase of 677 thousand requests to 25,750 thousand requests compared to 25,073 thousand requests.

This comes before we witness the disclosure of housing market data with the release of existing home sales, which may show a decline in decline to 15.0% compared to 20.8% in March, leading to the participation of FOMC members and New York Fed Chairman John Williams in a hypothetical discussion. At Stony Brook University Business School on Long Island.

Technical analysis

The dollar against the yen presented positive trading yesterday to settle above the 107.68 level, reinforcing the expectations of the continuation of the bullish trend during the coming period, as it gets continuous positive support from the EMA50, waiting for a further increase to visit the 109.22 level mainly.

On the other hand, it should be noted that breaching a 107.35 level will stop the expected bullish trend and press the price to shift to the downside.

The expected trading range for today is between 107.00 support and 108.60 resistance.

Expected trend for today: bullish.

#GAZPROM

The overall movement is upward. The 193.0 support level is holding back sellers. Bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversoldness.

Trading recommendations:

Buy when an ascending 1-2-3 pattern is formed, where wave 1 breaks through the inclined channel of the descending pattern.

Stop loss: 193.0.

Target levels: 199.0; 202.0; 211.4.

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

NZDCAD 

The resistance level of 0.8572 held back the bulls. A bearish divergence has formed on Awesome Oscillator. Breaking through the support level of 0.8485 will result in the formation of a 1-2-3 descending pattern.

Trading recommendations:

Sell when a 1-2-3 descending pattern is formed, below 0.8485.

Stop loss: 0.8572.

Target: 0.8354.

The NZDCAD analysis: monitor the movement of the pair.