Analytic reviews

The US dollar fell during the Asian session to witness the rebound for the third session in five sessions from the highest since August 15 against the Japanese yen following the developments and economic data that followed from the Japanese economy, the world's third largest economy and on the eve of developments and economic data expected on Thursday before The US economy is the largest in the world.

At 06:15 AM GMT, the USDJPY fell 0.24% to 105.87 levels from 106.12 opening levels, after hitting a session low of 105.83 and a high of 106.13.

The Japanese Consumer Confidence figure came in at 37.1 vs. 38.8 in July, worse than expected at 37.5, hours before the release of several important economic data on Friday which may reflect slower growth in inflationary pressures. This month, the unemployment rate stabilized, industrial production growth slowed and retail sales fell last month.

On the other hand, investors are currently awaiting the US economy to reveal the second reading of GDP, which may reflect the expansion of the largest economy in the world 2.0% during the second quarter compared to the previous initial reading of 2.1% growth, while the second reading of GDP may show measured Prices have stabilized at 2.4%, little changed from the previous quarter's preliminary reading.

This comes in conjunction with the release of the Trade Balance of Goods, which may show the deficit narrowed to $ 74.0 billion from $ 74.2 billion last June, and the release of the preliminary reading of the inventory index, which may reflect a growth of 0.2% against the stability at zero levels in June In addition, the reading of the number of applications for the benefit last week on the 24th of this month, which may reflect an increase of 6 thousand applications to 215 thousand applications.

Technical Analysis

USDJPY continues to fluctuate around SMA 50, and is under constant negative pressure from SMA 50, while Stochastic is now providing a negative crossover signal.

Therefore, these factors support the chances of resuming the bearish bias during the coming sessions, which targets 105.05 then 104.00 mainly, noting that stability below 106.70 is important for the continuation of the expected decline.

Expected trading range for today is between 105.00 support and 106.50 resistance.

Expected trend for today: Bearish.

AUDUSD managed to break the support of the bearish triangle mentioned yesterday and closed the daily candle below it, activating the negative effect of this pattern, prompting the price to continue the bearish trend, and the road is open to test the 0.6700 level which represents our first target.

Thereby, we are waiting for further declines in the coming sessions, noting that a breach of the target will push the price to 0.6615, while the expected decline will remain valid if it holds below 0.6830.

Expected trading range for today is between 0.6670 support and 0.6780 resistance.

Expected trend for today: Bearish.

GBPUSD

The pair is consolidating above 1.2180 amid the prospect of no-deal Brexit. This will have a negative impact on the pound, which may cause the pair to continue dropping locally.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below 50% and moves horizontally. Stoch turn down.

Trade recommendations:

If the price drops below 1.2180, it may go further down to 1.2115.

Aeroflot fell during the week and reached the support level of 102.87 to rebound back to the levels it was trading around.

The price is moving under the positive pressure of the 20-50 moving averages that move below the price and form support levels.

Stochastic is near the overbought zone on a bullish path and gives a bearish signal.

General direction of movement: Sideways.

Gold futures fluctuated in a narrow range, tilted lower during the Asian session to witness the decline for the second session in three sessions from the highest since April 11, 2013 amid the rise of the US dollar index according to the inverse relationship between the lack of economic data on Wednesday by The US economy is the largest in the world.

At 03:16 am GMT, gold futures for December 15 rose 0.05% to trade at $ 1540.40 an ounce, compared with the opening at $ 1541.00 an ounce, after hitting a low of 1531.67. The US dollar index rose 0.07% to 98.07 compared to the opening at 98.00.

On Tuesday, US President Donald Trump said he was not considering imposing tariffs on cars imported from Japan at the moment, adding that the US had reached a preliminary agreement with Japan on trade relations between the two countries, adding that these trends and others aimed at re-course Correct between the United States and other countries and to deal fairly commercially.

On the other hand, Japanese Prime Minister Shinzo Abe noted that the importance of the stability of trade relations between Tokyo and Washington is not only for the economy of Japan and the United States, but for the global economy, explaining that he hopes the negotiations will reach positive results between the two parties and in particular that they can contribute to the stability of the global economy. Japan is working to assess the trade tensions between the two parties and their effects on the Japanese economy at the moment.

On the other hand, markets are looking ahead on Thursday by the US economy to reveal the second reading of GDP, which may reflect the expansion of the largest economy in the world 2.0% in the second quarter compared to the previous initial reading of 2.1% growth, while the second reading of GDP may show measured Prices have stabilized at 2.4%, little changed from the previous quarter's preliminary reading.

President Trump said earlier this week that US trade officials had received overnight calls from the Chinese that Beijing was ready to return to the negotiating table with Washington to reach a trade deal, and noted that he had "great respect for the fact that China had contacted them." "They want to make a deal." This is the first time I've seen them really want to do a deal, and I think this is a very positive step. "

On the other hand, a Chinese Foreign Ministry spokesman said on Monday that he was not aware of a phone call between the two sides, but Chinese Vice Premier Liu Huo also noted Monday that "China ... firmly opposes the escalation of trade war. It benefits China, which is not good for the United States, nor does it benefit the interests of people around the world. "

This comes after we followed last Friday's report that China plans to impose 10% tariffs later this year on US goods and goods worth $ 75 billion in response to the US administration's announcement earlier this month that it would impose 10% tariffs. Chinese goods and goods worth $ 300 billion by early September and a partial postponement of the decision until mid-December.

Technical Analysis

The price of gold starts today with a bearish bias to breach the pivotal support 1530.00, where the price is affected by the negativity of Stochastic, which requires attention from the upcoming trading, as breaking this level will put the price under additional negative pressure targeting the 1517.25 areas and may extend to 1508.30 before any new attempt to rise. .

So far, the main positive scenario remains valid above 1530.00, noting that our next key targets start at 1560.00 and extend to 1600.00.

Expected trading range for today is between 1520.00 support and 1555.00 resistance.

Expected trend for today: Bullish.

The euro-zone single currency fluctuated in a narrow and bearish range during the Asian session to witness its rebound for the third consecutive session since August 14 against the US dollar on the eve of developments and economic data expected by the euro-zone economies and amid the scarcity of economic data by the US economy on Wednesday the world's largest economy.

At 04:25 am GMT, EUR / USD fell 0.04% to 1.1086 levels from the opening at 1.1090, after the pair reached a session low of 1.1085, while hitting a high of 1.1095.

Markets are currently looking ahead to Germany, the euro zone's largest economy, to reveal a consumer confidence index that may reflect a contraction in the expansion to 9.5 vs. 9.7 in August, coinciding with the release of the import price index which may reflect a contraction of 0.1% vs. 1.4% in June, while the annual reading of the index itself may show a steady decline of 2.0%.

This comes before the Eurozone economies as a whole will see the release of the annual M-3 money supply figure, which could reflect a rapid growth of 4.7% vs. 4.5% in the previous annual reading for June, coinciding with the release of the annual private loan index. For the region's economies as a whole, growth may also accelerate to 3.5% from 3.3% in June.

On Tuesday, German Economy Minister Peter Altmapper said that the upcoming trade talks between his country and the United States would be difficult, but that the global economic slowdown was increasing the chances of reaching a trade agreement. In reaching a solution to trade disputes with Europe.

German Economy Minister Altmapper has already noted that US President Donald Trump and European Commission President Jean-Claude Juncker recently agreed that the United States or the European Union should not impose tariffs on each other during trade negotiations. Observers of the political tensions in Italy, the third largest economy of the euro zone to resort to the Italian president to dissolve parliament and hold new parliamentary elections in the shadow of the differences between the five-star party and the Democratic Party there.

Technical Analysis

EURUSD is showing a slight bearish bias to move below 1.1100, and Stochastic is now providing a bearish crossover signal, waiting for the price to stimulate further negative trading over the coming sessions, and the path is open to our next target at 1.1000.

Therefore, we hold onto our bearish outlook unless 1.1180 is breached and hold above it, noting that a break above the target will push the price to 1.0857 as the next major stop.

Expected trading range for today is between 1.0980 support and 1.1150 resistance.

Expected trend for today: Bearish.

The Australian dollar fluctuated in a narrow, bearish range during the Asian session against the US dollar following the developments and economic data that followed from the Australian economy and amid the lack of economic data on Wednesday by the US economy, the largest economy in the world.

At 02:29 AM GMT, the Australian dollar against the US dollar fell by 0.07% to 0.6747 levels compared to the opening levels at 0.6752, after the pair achieved the lowest during the trading session at 0.6742, while the highest level at 0.6762.

The Australian economy followed the release of the housing market data with the release of the construction index which showed a decline to 3.8% versus 2.2% in the first quarter, worse than expectations for a decline to 1.0%, less than a week ago. The Reserve Bank of Australia (RBA) meeting, which is expected to keep monetary policy makers at the RBA at 1.00% for the second consecutive meeting and a week before the release of second quarter growth data.

Technical Analysis

AUDUSD is now trading negatively to press support for the bearish triangle, reinforcing expectations that the bearish trend will continue over the coming sessions, whose targets start with a break of 0.6700 to open the way for 0.6615 as the next major stop.

SMA 50 supports the proposed bearish wave, which requires stability below 0.6830.

Expected trading range for today is between 0.6670 support and 0.6780 resistance.

Expected trend for today: Bearish.

The US dollar fluctuated in a narrow uptrend range during the Asian session to witness the rebound for the second session in three sessions, the lowest since November 9, 2016 against the Japanese yen amid the lack of economic data on Wednesday by the Japanese economy, the world's third largest economy and the US economy is the largest economy in the world.

At 06:19 am GMT, the USDJPY rose 0.05% to 105.80 levels from 105.75 opening levels, after hitting a session high of 105.89 and a low of 105.65.

On Tuesday, US President Donald Trump said he was not considering imposing tariffs on cars imported from Japan at the moment, adding that the US had reached a preliminary agreement with Japan on trade relations between the two countries, adding that these trends and others aimed at re-course Correct between the United States and other countries and to deal fairly commercially.

On the other hand, Japanese Prime Minister Shinzo Abe noted that the importance of the stability of trade relations between Tokyo and Washington is not only for the economy of Japan and the United States, but for the global economy, explaining that he hopes the negotiations will reach positive results between the two parties and in particular that they can contribute to the stability of the global economy. Japan is working to assess the trade tensions between the two parties and their effects on the Japanese economy at the moment.

On the other hand, markets are looking ahead on Thursday by the US economy to reveal the second reading of GDP, which may reflect the expansion of the largest economy in the world 2.0% in the second quarter compared to the previous initial reading of 2.1% growth, while the second reading of GDP may show measured Prices have stabilized at 2.4%, little changed from the previous quarter's preliminary reading.

Technical Analysis

USD / JPY is trading below SMA 50 which continues to protect the negative scenario suggested in our recent reports, awaiting the resumption of the bearish bias to test 105.05 initially, noting that breaching this level will push the price to 104.00 directly.

Therefore, the bearish trend will remain valid and likely for today unless the price pushes to breach the 106.70 level and hold above it.

Expected trading range for today is between 105.00 support and 106.50 resistance.

Expected trend for today: Bearish.

The US dollar fell during the Asian session to witness a rebound for the second session in three sessions from its highest since August 15 against the Japanese yen following the developments and economic data that followed from the Japanese economy, the world's third largest economy and on the eve of developments and economic data expected on Tuesday before The US economy is the largest in the world.

At 06:12 am GMT, the USDJPY fell 0.42% to 105.67 levels compared to the opening levels at 106.13, after the pair reached its lowest level during the session at 105.65, while the highest level at 106.18.

The Japanese economy followed the release of the annual Services Price Index which showed growth slowed to 0.5% vs. 0.7% in the previous month of June, worse than expectations of 0.5%. This came before we saw the release of inflation data with the release of the reading. The core annual CPI figure, which showed growth steady at 0.6%, little changed from June, is in line with expectations.

On the other hand, investors are currently awaiting the US economy to release housing market data with the release of the house price index, which may reflect the acceleration of the pace of growth in June to 0.2% compared to 0.1% in May, while the reading of the same indicator may show For the second quarter, the pace of growth slowed to 0.2% from 0.1% in the first fourth.

This comes in conjunction with the release of the S&P House Price Index, which may show the pace of growth accelerated to 2.5% vs. 2.4% last May, and before we see the release of the Consumer Confidence reading which may show a widening of the expansion to 129.3 vs. 135.7 Last July, coinciding with the release of the Richmond Manufacturing Index, which may show contraction shrank to 2 vs. 12 in July.

Technical Analysis

The USDJPY provided significant positive trading yesterday but stopped at SMA 50, which formed a good resistance barrier against the price, to start bouncing down with the opening of today's trading, which keeps the main bearish scenario valid so far, supported by stochastic negativity, waiting to exceed The level of 105.05 opens the way for the next target towards 104.00.

The continuation of the suggested bearish wave requires stability below 106.70.

Expected trading range for today is between 104.80 support and 106.20 resistance.

Expected trend for today: Bearish.

The Australian dollar fluctuated in a narrow, bearish range during the Asian session against the US dollar after the Reserve Bank of Australia Assistant Governor in charge of Risk Management Committee Jay Debell delivered a speech entitled "Balance of Payments" at the Australian Economic Association luncheon in Canberra and on the eve of the upcoming economic developments and data. Tuesday by the largest US economy in the world.

At 02:59 AM GMT, the AUDUSD fell 0.04% to 0.6772 levels from the opening levels of 0.6775, after hitting a session low of 0.6764 and a high of 0.6780.

Investors are currently awaiting the US economy to release the housing market data with the release of the house price index which may reflect the accelerated pace of growth in June to 0.2% compared to 0.1% in May, while the reading of the same indicator for the second quarter may show a slowdown The pace of growth to 0.2% versus 0.1% in the first fourth last.

This comes in conjunction with the release of the S&P House Price Index, which may show the pace of growth accelerated to 2.5% vs. 2.4% last May, and before we see the release of the Consumer Confidence reading which may show a widening of the expansion to 129.3 vs. 135.7 Last July, coinciding with the release of the Richmond Manufacturing Index, which may show contraction shrank to 2 vs. 12 in July.

Technical Analysis

AUDUSD will be trading around 0.6760, and is trading within a bearish triangle awaiting confirmation of its breach to consolidate expectations that the main bearish trend will continue.

In general, we continue to favor the bearishness over the coming period provided stability below 0.6830, noting that our first target is to break 0.6700 to open the way towards 0.6615 as a next stop.

Expected trading range for today is between 0.6700 support and 0.6800 resistance.

Expected trend for today: Bearish.