Analytic reviews

EURUSD

The pair continues to move in the range of 1.0760–1.1015 amid the internal economic problems in the eurozone, as well as the uncertainty created by Brexit and the US-Chinese confrontation.

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 reversing in the oversold zone.

Trading recommendations:

The pair declined below 1.0885. Expect the price to go further down to the likely local target of 1.0760.

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

EURUSD 

The currency pair is trading in the range of 365 and 135 moving averages directed upwards. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversoldness. A descending truncated pattern has formed.

Trading recommendations:

Buy when an ascending wave pattern is formed.

Stop loss under the price pivot zone of 1.0884.

Target levels: 1.1008; 1.1050.

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

#SBER

Stock markets are recovering from a pandemic-induced collapse.

Sberbank shares are trading in the range of 150 and 365 moving averages. 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 under the price pivot zone of 186.50.

Target levels: 196.20; 204.33.

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

#MMM

The overall trend is downward. The resistance level of 151.00 held back buyers. If the price fixes below the support level of 145.00, it will decline further. Stochastic Oscillator also signals overboughtness.

Trading recommendations:

Sell below 145.00.

Stop loss: 151.00.

Target levels: 139.50; 131.00.

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

EURRUB

The has pair turned down amid the falling demand for risk assets. At the same time, it's still trading within the range of 1.0760–1.1015, where it’s likely to remain for the next week. The pair will be under pressure today.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. The moving averages intersect and suggest selling. RSI crosses the level of 50% and also signal to sell. Stoch entered the oversold zone.

Trading recommendations:

The pair dropped below 1.0920, which signals the need to sell it with a likely local target of 1.0860.

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

EURNZD

The support level 1.7847 is holding back sellers. A descending truncated pattern was formed. A bullish divergence has formed on Awesome Oscillator.

Trading recommendations:

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

Stop loss: 1.7847.

Target levels: 1.8074; 1.8250.

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

The Australian dollar versus the US dollar fluctuated in a sideways path in recent sessions, and the price continues to move inside the bullish channel that appears in the picture, while the EMA50 continues to support the price from below.

Therefore, our bullish overview will remain valid for today, which requires stability above 0.6490, while noting that our main waited target is at 0.6685.

The expected trading range for today is between 0.6500 support and 0.6650 resistance.

Expected trend for today: bullish.

The single currency fluctuated the euro in a narrow range tilted toward decline, to witness its bounce to the third session from the top since the beginning of May, when it tested its highest since early April against the US dollar on the threshold of the European Central Bank's disclosure of the accounts of the European Central Bank's monetary policy meeting, which Held at the end of last month and amid the scarcity of economic data today, Friday, by the US economy, the largest economy in the world.

At 05:21 am GMT, the euro against the US dollar fell 0.24% to 1.0924 levels, compared to the opening levels at 1.0950 after the pair achieved its lowest level during the trading session at 1.0919, while achieving the highest at 1.0954.

The markets are currently awaiting the European Central Disclosure of the minutes of its last meeting, in which it decided to maintain interest rates at zero levels and fix the marginal lending rate at 0.25%, in addition to keeping the interest rate on deposits negative -0.50%, in addition to increasing the size of the emergency bond purchase package. (PEPP) rose by 500 billion euros to 1.25 trillion euros

Technical analysis

The euro against the dollar ended yesterday's trading below the level of 1.0966, which puts the price under the expected negative pressure during the coming period, paving the way for the trend towards 1.0840 as a next negative station.

Therefore, a bearish bias will be favored for today, given that breaching 1.0966 and holding above it again will reactivate the bullish trend scenario whose first positive target is located at 1.1067.

The expected trading range for today is between 1.0840 support and 1.1020 resistance.

Expected trend for today: bearish.

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 13, while tolerating the dollar index rebound to the third session from the lowest since the fourth of this month, when it tested the lowest since 30 of March / He practiced according to the inverse relationship between them after the developments and economic data that he followed on Friday from the Japanese economy, which included the decisions and directions of monetary policymakers at the Bank of Japan and in the wake of concerns about the return of strikes in Hong Kong and the escalation of tensions between Washington and Beijing.

At exactly 04:27 AM GMT, gold price futures for June delivery rose 0.09% to trade at $ 1,727.50 per ounce compared to the opening at $ 1,726.00 per ounce, knowing that the contracts started the trading session on an upward price gap after it concluded yesterday's trading At $ 1,721.90 per ounce, while the US dollar index rose 0.08% to 99.51 compared to the opening at 99.42.

On the Japanese economy, we followed the disclosure of inflation data with the release of the annual reading of the national consumer price index, which showed a slowdown in growth to 0.1% compared to 0.4% in March, while the annual reading of the same index excluding fresh food showed a contraction of 0.2% against a growth of 0.4%, Worse than expectations for a contraction of 0.1%, and the annual reading excluding energy and fresh food showed growth slowed to 0.2% versus 0.6%.

This came before we witnessed the decision of the monetary policymakers at the Bank of Japan at the May 22 emergency meeting, which was held for one day as a precautionary measure against the spread of the Coronavirus, to keep interest rates negative at 0.10%, which came in line with expectations, and that remains Also on the pledge to direct the 10-year government bond yield at zero, otherwise, Bank of Japan Governor Haruhiko Kuroda stated that the bank had not held a press conference.

In the same context, the Central Bank of Japan unveiled the monetary policy statement, which reflected the Bank of Japan's provision of further stimulus with the launch of a new lending program aimed at channeling more money to small and medium-sized companies suffering from the economic blow to the outbreak of the coronavirus, while stating that it has extended The deadline for a series of recent actions he has taken to combat the consequences of the Coronavirus.

The Bank of Japan also announced the acceleration of the debt purchases of companies with a six-month period until the end of the current fiscal year on March 31, 2021, with a statement that the response measures for the coronavirus have reached to date 75 trillion yen, and this comes in the wake of the Bank of Japan raising in Last April's meeting, the maximum purchase limit for corporate and commercial securities that it pledges to purchase is 20 trillion yen from 7 trillion yen previously.

It is reported that the Japanese Central Bank also confirmed last month its commitment to purchase unlimited amounts of government bonds by canceling the previous directive to purchase them at an annual rate of about 80 trillion yen, as the monetary policy statement included at that time a paragraph, "The Bank of Japan will purchase the necessary amounts of government bonds without Set a higher limit so that the yield of 10-year bonds remains at around zero percent.

On the other hand, we followed the announcement of the National People's Congress (Parliament) in its annual session on a new national security law for Hong Kong, which comes after months of anti-government protests in the region, as part of Beijing's efforts to impose its control on the city, which may result in it. Renewed pro-democracy protests in the former British colony, which periodically turned violent.

This new Hong Kong city security bill provides for prohibiting separation laws, foreign interference, terrorism, and all provocative activities aimed at overthrowing the central government and any external interference. In another context, China also announced that it will not set a target for GDP for 2020, coinciding with an escalation Tensions between Washington and Beijing after the Senate passed a bill barring Chinese companies from listing on US exchanges.

Technical analysis

Gold price continued its negative pressure yesterday to break the level of 1725.90, and it moves below SMA 50 to fall under more potential negative pressure, but in return, we notice that the price closed the daily candle above the mentioned level, and gets positive signals through the stochastic indicator.

Therefore, this inconsistency between technical factors makes us prefer stopping on neutrality until we get a clearer signal for the next direction, noting that confirming the break of support 1725.90 will put the price under downward corrective pressure targeting the level of 1691.10 as a first station, while a break of 1743.00 will return the price to the main channel The bullish trend is pushing towards achieving positive targets that start by surpassing the level of 1764.00 to open the path towards heading towards 1810.00.

The expected trading range for today is between 1710.00 support and 1750.00 resistance.

Expected trend for today: depends on the levels mentioned in the report.

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 in four sessions from its highest since April 13 against the Japanese yen after the developments and economic data that it adopted from the Japanese economy, which include the decisions and directions of the monetary policymakers at the bank The Japanese central bank and amid the scarcity of economic data today, Friday, by the US economy, the largest economy in the world.

At 06:03 am GMT, the US dollar pair fell against the Japanese yen by 0.15% to 107.45 levels compared to the opening levels at 107.61 after the pair achieved its lowest level during the trading session at 107.41, while it achieved the highest at 107.76.

On the Japanese economy, we followed the disclosure of inflation data with the release of the annual reading of the national consumer price index, which showed a slowdown in growth to 0.1% compared to 0.4% in March, while the annual reading of the same index excluding fresh food showed a contraction of 0.2% against a growth of 0.4%, Worse than expectations for a contraction of 0.1%, and the annual reading excluding energy and fresh food showed growth slowed to 0.2% versus 0.6%.

This came before we witnessed the decision of the monetary policymakers at the Bank of Japan at the May 22 emergency meeting, which was held for one day as a precautionary measure against the spread of the Coronavirus, to keep interest rates negative at 0.10%, which came in line with expectations, and that remains Also on the pledge to direct the 10-year government bond yield at zero, otherwise, Bank of Japan Governor Haruhiko Kuroda stated that the bank had not held a press conference.

In the same context, the Central Bank of Japan unveiled the monetary policy statement, which reflected the Bank of Japan's provision of further stimulus with the launch of a new lending program aimed at channeling more money to small and medium-sized companies suffering from the economic blow to the outbreak of the coronavirus, while stating that it has extended The deadline for a series of recent actions he has taken to combat the consequences of the Coronavirus.

The Bank of Japan also announced the acceleration of the debt purchases of companies with a six-month period until the end of the current fiscal year on March 31, 2021, with a statement that the response measures for the coronavirus have reached to date 75 trillion yen, and this comes in the wake of the Bank of Japan raising in Last April's meeting, the maximum purchase limit for corporate and commercial securities that it pledges to purchase is 20 trillion yen from 7 trillion yen previously.

It is reported that the Japanese Central Bank also confirmed last month its commitment to purchase unlimited amounts of government bonds by canceling the previous directive to purchase them at an annual rate of about 80 trillion yen, as the monetary policy statement included at that time a paragraph, "The Bank of Japan will purchase the necessary amounts of government bonds without Set a higher limit so that the yield of 10-year bonds remains at around zero percent.

Technical analysis

The dollar versus yen presented quiet positive trades yesterday to try to rise above 107.68 level, reinforcing expectations of the continuation of the bullish trend during the upcoming sessions, which is moving inside the bullish channel that appears in the picture, supported by the EMA50, waiting for the trend towards 109.22 as the next main station.

The stochastic is trying to get rid of its negative momentum to support the bullish expectations, which will remain intact, provided that it remains above 107.35.

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

Expected trend for today: bullish.