Analytic reviews

The Australian dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound from its lowest level since January 3 against the US dollar following developments and economic data that followed on the Australian economy and on the eve of developments and economic data expected Thursday by the largest US economy World economy.

At 03:07 am GMT, the AUDUSD rose 0.10% to 0.6852, compared to the opening levels of 0.6845, after reaching a high of 0.6858 while the seven month low at 0.6828.

On the Australian economy, the import price index rose 0.9% against 0.5% in the first quarter, below expectations of 1.8%, while the export price index showed growth slowing to 3.8% from 4.5% in the first quarter, Beating expectations that growth will slow to 2.8%, and investors are now waiting for the July CPI to be released.

On the other hand, investors are currently looking for the US economy to release the Jobless Claims reading for the week ending July 27, which could reflect a 6K increase to 212K before we see the final reading of the Industrial PMI by Marquette From the US, which may reflect the stability of the widening at 50.0, unchanged from the previous reading of the previous month and against 50.6 in June.

Leading to the disclosure by the largest industrialized country of the index of the Industrial Supply Institute index, which may show a widening to 52.0 compared to 51.7 in June, while the same index may indicate the price index contraction contraction to 49.1 compared to 47.9, in conjunction with The construction spending index, which reflects a rise of 0.5% versus 0.8%.

This came hours after the Federal Open Market Committee decided to cut the federal funds rate by 25 basis points for the first time in more than a decade, which was expected in the markets, Federal Reserve Governor Jerome Powell during his press conference after the expiration The fact that the decision was made in view of "global developments" and "inflation" is the subject of the meeting of the Federal Commission.

In the same context, Federal Reserve Governor Paul said that the committee's decision at the July 30-31 meeting to cut interest rates to between 2.00% and 2.25% "was not the beginning of a long series of interest rate cuts." To global risk insurance and that it is not necessarily one-time only, reflecting that the course of monetary policy in the future will depend on the impact of global economic data on the performance of the economy.

Technical Analysis

The AUDUSD has succeeded in touching and stabilizing our target at 0.6830, and the price continues to move within the descending channel shown in the image, which keeps the bearish scenario likely over the short term and intraday basis, waiting to exceed the mentioned level to open the way for the downside wave extension towards 0.6700 as a stop deification.

Therefore, the bearish trend will remain in the coming period, noting that failure to break the 0.6830 might push the price for immediate gains targeting the 0.6975 areas before any new attempt to decline.

The trading range for today is expected among the support at 0.6790 and the resistance at 0.6900

The general trend for today is bearish.

The US dollar rose during the US session, its highest since late May against the Japanese yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and on the eve of developments and economic data expected Thursday by the US economy, the largest economy in the world.

At 05:52 am GMT, the pair rose 0.39% to 109.20 from the opening levels at 108.78, after reaching a nine-week high of 109.32, while the lowest level at 108.71 .

We followed the Japanese economy, the world's third largest industrial nation, to reveal the final reading of the Nikkei PMI, which showed a contraction of 49.4 from July's preliminary reading and expectations of 49.6 versus 49.3 last June. Yesterday, the Japanese government lowered its forecast for growth and inflationary pressures in the medium and long term.

This comes hours after the Bank of Japan on Tuesday approved a negative interest rate of 0.10% amid maintaining the asset purchase program unchanged and future interest rate trends. With the Bank of Japan cutting its inflation and growth forecasts, Held by Bank of Japan Governor Haruhiko Kuroda in Tokyo, who noted his willingness to expand stimulus if needed.

On the other hand, investors are currently looking for the US economy to release the Jobless Claims reading for the week ending July 27, which could reflect a 6K increase to 212K before we see the final reading of the Industrial PMI by Marquette From the US, which may reflect the stability of the widening at 50.0, unchanged from the previous reading of the previous month and against 50.6 in June.

Leading to the disclosure by the largest industrialized country of the index of the Industrial Supply Institute index, which may show a widening to 52.0 compared to 51.7 in June, while the same index may indicate the price index contraction contraction to 49.1 compared to 47.9, in conjunction with The construction spending index, which reflects a rise of 0.5% versus 0.8%.

This came hours after the Federal Open Market Committee decided to cut the federal funds rate by 25 basis points for the first time in more than a decade, which was expected in the markets, Federal Reserve Governor Jerome Powell during his press conference after the expiration The fact that the decision was made in view of "global developments" and "inflation" is the subject of the meeting of the Federal Commission.

In the same context, Federal Reserve Governor Paul said that the committee's decision at the July 30-31 meeting to cut interest rates to between 2.00% and 2.25% "was not the beginning of a long series of interest rate cuts." To global risk insurance and that it is not necessarily one-time only, reflecting that the course of monetary policy in the future will depend on the impact of global economic data on the performance of the economy.

Technical Analysis

USDJPY succeeded in breaking the 108.93 level with the opening of today's trading and closing the last four hour candlestick above it to complete the formation of the double bottom pattern that appears in the picture and is doing its positive impact, awaiting further upside in the coming period. The next positive targets are 109.60 and 110.25.

Therefore, we continue to favor the bullishness supported by the SMA 50, noting that stability above 108.93 represents the first requirement for the continuation of the expected rally.

The trading range for today is among the key support at 108.70 and resistance at 110.00

The general trend for today is bullish.

Gold futures fluctuated in a tight range slipping into the Asian session to see their second straight session rebound since July 19, when it tested its highest since May 10, 2013 as the US dollar rose higher. Since 15 May 2017 according to the inverse relationship between them on the eve of developments and economic data expected Thursday from the US economy, the largest economy in the world.

Gold futures for December delivery fell 0.27% to currently trade at $ 1,421.70 an ounce from the opening at $ 1,425.60 an ounce. The contracts started trading on a bearish price gap after concluding Yesterday's trading at $ 1,437.80 an ounce, while the US dollar index rose 0.25% to 98.84 compared to the opening at 98.60.

Investors are currently looking for the US economy to read the Jobless Claims reading for the week ending July 27th, which could reflect a 6K increase to 212K before we see the final reading of Markit Manufacturing PMI The stability of the widening at 50.0 may reflect little change from last month's preliminary reading and from 50.6 in June.

Leading to the disclosure by the largest industrialized country of the index of the Industrial Supply Institute index, which may show a widening to 52.0 compared to 51.7 in June, while the same index may indicate the price index contraction contraction to 49.1 compared to 47.9, in conjunction with The construction spending index, which reflects a rise of 0.5% versus 0.8%.

This came hours after the Federal Open Market Committee decided to cut the federal funds rate by 25 basis points for the first time in more than a decade, which was expected in the markets, Federal Reserve Governor Jerome Powell during his press conference after the expiration The fact that the decision was made in view of "global developments" and "inflation" is the subject of the meeting of the Federal Commission.

In the same context, Federal Reserve Governor Paul said that the committee's decision at the July 30-31 meeting to cut interest rates to between 2.00% and 2.25% "was not the beginning of a long series of interest rate cuts." To global risk insurance and that it is not necessarily one-time only, reflecting that the course of monetary policy in the future will depend on the impact of global economic data on the performance of the economy.

In the same context, the White House also announced yesterday that the two sides had discussed many issues, including the United States and China, Such as the transfer of forced technology and intellectual property rights as well as non-tariff and agricultural services and barriers.

Technical Analysis

The price of gold hit a strong negative yesterday to attack the level of 1410.90 and try to break it, where it starts today further decline to move below this level, which signals the direction of the price for further correction, but we need to monitor the daily closing for the level mentioned to confirm the next destination more accurately .

Therefore, we prefer to stop the neutrality temporarily until the price confirms the position for the level of 1410.90, noting that the stability below it will push the price to move towards 1384.95 as a corrective post, while trading above again will reactivate the positive scenario, which is located next target at 1450.00.

The trading range for today is among the support at 1395.00 and resistance at 1435.00

The expected general trend for today: neutral.

EURUSD

The pair is consolidating at 1.1155 in anticipation of the Fed's final decision on monetary policy. The pair can continue to climb if the Fed makes it clear that the lowering of interest rates may continue.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. The moving averages suggest buying. RSI is above the level of 50% and moves horizontally. Stoch are below the overbought zone and are reversing downwards.

Trading recommendations:

The Fed’s clear indication that the interest rates reduction could turn into a cycle will cause a local growth up to 1.1220 with the prospect of further increase.

Gold futures traded in a tight range slipping into the Asian session to see their rebound to its second highest session since July 19, when it tested its highest since May 10, 2013 as the US dollar index rose for the fifth straight session And its stability near the top in two months according to the inverse relationship between them following the developments and economic data that followed the Chinese economy, the largest consumer of metals globally and on the threshold of developments and economic data expected on Wednesday from the US economy, the largest economy in the world Within the decisions and directions of monetary policy makers at the Federal Reserve

Gold futures for December delivery rose 0.10% to currently trade at $ 1,431.40 per ounce, compared with the opening at $ 1,430.70 an ounce, while the dollar index rose 0.02% to 98.06 compared to the opening at 98.04.

We have followed the China Logistics and Procurement Federation (CFLP) survey of the Industrial and Service Purchasing Managers' Indexes, which reported contraction in the industrial sector to 49.7 versus 49.4 in the previous reading for June, beating expectations of contraction of 49.6 The service sector contracted to 53.7 from 54.2 in June, worse than expected at 54.0.

On the other hand, investors are currently waiting for the US economy to release preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the acceleration of job creation to 150 thousand jobs added to 102 thousand jobs added in June, before Hours of disclosure of the monthly report of non-agricultural jobs and unemployment rates in addition to the average income per hour for the month.

This comes before we also see later in the day by the world's largest economy reading the labor cost index, which may reflect a stable growth of 0.7%, unchanged from the first quarter, and before the disclosure of the Chicago Purchasing Managers Index May extend to 51.7 versus a contraction of 51.7 in June.

Leading to the release of the monetary policy statement of the Federal Open Market Committee meeting on July 30-31 and the Fed's decision on interest rates amid expectations that monetary policy makers will cut federal funds rates by 25 basis points to between 2% and 2% . This comes half an hour before the Fed's upcoming press conference, Jerome Powell.

US President Donald Trump said yesterday at the start of a meeting of the Federal Committee in Washington that the Fed was moving early and hasty and would like the Fed to stop tightening monetary policy and see a drastic cut in interest rates on federal funds. Adding that he was not confident of accepting China's proposals during the ongoing trade talks.

Investors are eyeing the ongoing US-China trade negotiations in Shanghai, which began yesterday with the visit of a US trade delegation led by US Trade Representative Robert Laitzer to China and ending today, which reflected the resumption of trade negotiations between the world's two largest economies after it was suspended in May, This comes before we see later in the month of next month a Chinese trade delegation in turn to Washington.

Technical Analysis

Gold managed to break through 1430.00 and get a daily closing above it, which supports our continued bullish outlook for the coming period, but it starts today with a bearish slope affected by stochastic negativity awaiting a positive momentum enough to push the pair higher again. 1450.00.

In general, we will hold onto our bullish outlook for the coming sessions provided stability above 1410.90.

The trading range for today is among the key support at 1415.00 and resistance at 1450.00

The general trend for today is bullish.

The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session to see its fourth session retreat in five sessions from its lowest since May 19, 2017 against the US dollar on the brink of economic developments and data expected on Wednesday by speculative economies The euro and the US economy are the largest economy in the world, including the decisions and directions of monetary policy makers in the Federal Reserve and the forthcoming press conference of Federal Reserve Governor Jerome Powell in Washington.

At 05:25 GMT, the EURUSD rose 0.02% to 1.1157, compared to the opening at 1.1155, after reaching a high of 1.1148 and a low of 1.1159.

The markets for Germany, the biggest economy in the euro zone, are looking for a reading of the Retail Sales Index, which could reflect a 0.5% rise from 0.6% in May, while the same index may slow growth to 0.6% versus 4.0% before we see By France's second-largest economy revealed a preliminary reading of the consumer price index which may show a 0.3% contraction versus 0.2% growth in June.

To show the growth data for the fourth largest economy of the euro area Spain with the initial reading of the GDP index, which may reflect the slowdown of growth to 0.6% compared to 0.7% in the first quarter, before the reading of the change in unemployment from Germany, which may rise by two thousand versus Fell by a thousand in June, and unemployment readings for Italy, the region's third-largest economy, may show a rise to 10.0% from 9.9% in May.

This comes before we see the economy of the region as a whole disclosure of inflation data with the publication of the annual CPI, which may reflect the slowdown of growth to 1.0% compared to 1.2% in June, and may show the core annual reading of the same index slowing growth to 1.0% compared to 1.1%, in conjunction with the initial reading of the same index for Italy, which may reflect a stable growth of 0.1% in July.

To the Eurozone GDP as a preliminary reading of GDP, which may reflect a slowdown in growth to 0.2% versus 0.4% in the first quarter, with a reading of unemployment rates for the region as a whole, which may show stability at 7.5% Ahead of Italy's GDP reading, which could show 0.1% contraction versus 0.1% growth in the first quarter.

On the other hand, investors are currently waiting for the US economy to release preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the acceleration of job creation to 150 thousand jobs added to 102 thousand jobs added in June, before Hours of disclosure of the monthly report of non-agricultural jobs and unemployment rates in addition to the average income per hour for the month.

This comes before we also see later in the day by the world's largest economy reading the labor cost index, which may reflect a stable growth of 0.7%, unchanged from the first quarter, and before the disclosure of the Chicago Purchasing Managers Index May extend to 51.7 versus a contraction of 51.7 in June.

Leading to the release of the monetary policy statement of the Federal Open Market Committee meeting on July 30-31 and the Fed's decision on interest rates amid expectations that monetary policy makers will cut federal funds rates by 25 basis points to between 2% and 2% . This comes half an hour before the Fed's upcoming press conference, Jerome Powell.

Technical Analysis

The EUR / USD pair is slightly bullish to move around 1.1150, and is affected by the positive stochastic, but the price stability below 1.1180 keeps the bearish scenario intact for the coming period, supported by negative pressure formed by SMA 50, awaiting targets of 1.1100 and 1.1000 as next major stations.

We note the importance of caution during trading today, as markets wait for the Federal Reserve to decide on its interest rate, which may cause mixed and strong trading in major currency pairs.

The trading range for today is expected between 1.1050 and 1.1220 support

The general trend for today is bearish.

The Australian dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound from its lowest level since June 19 against the US dollar following developments and economic data that followed on the Australian economy and on the eve of developments and economic data expected Wednesday by the US economy, Which includes the decisions and directions of monetary policy makers at the Federal Reserve and the forthcoming press conference of Federal Reserve Governor Jerome Powell in Washington.

At 3:12 am GMT, the AUDUSD rose 0.19% to 0.6885 compared with the opening levels of 0.6872, after recording a high of 0.6890, while a six-week low of 0.6863.

As for the Australian economy, inflation data was released with the release of the Consumer Price Index (CPI) which showed a 0.6% growth against stability at zero levels in the previous quarter's reading, beating expectations of a 0.5% growth, while the core reading of the index itself showed acceleration Growth to 0.4% in line with expectations versus 0.3% in the first quarter.

The annualized reading of the consumer price index showed growth accelerated to 1.6% from 1.3% in the previous year's first quarter reading, beating expectations for a 1.5% growth rate, while the core annual reading showed a 1.6% growth rate unchanged Over the first quarter, also outperformed expectations that growth will slow to 1.5%.

On the other hand, investors are currently waiting for the US economy to release preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the acceleration of job creation to 150 thousand jobs added to 102 thousand jobs added in June, before Hours of disclosure of the monthly report of non-agricultural jobs and unemployment rates in addition to the average income per hour for the month.

This comes before we also see later in the day by the world's largest economy reading the labor cost index, which may reflect a stable growth of 0.7%, unchanged from the first quarter, and before the disclosure of the Chicago Purchasing Managers Index May extend to 51.7 versus a contraction of 51.7 in June.

Leading to the release of the monetary policy statement of the Federal Open Market Committee meeting on July 30-31 and the Fed's decision on interest rates amid expectations that monetary policy makers will cut federal funds rates by 25 basis points to between 2% and 2% . This comes half an hour before the Fed's upcoming press conference, Jerome Powell.

The AUDUSD is showing further bearishness to creep towards our awaited target at 0.6832, so that the bearish trend will remain for the next period, consistently within the descending channel shown in the image, supported by SMA 50, with the continuation of the expected decline dependent on stability below 0.6975 .

The trading range for today is among the key support at 0.6830 and resistance at 0.6930

The general trend for today is bearish.

Aeroflot managed to breach the 107.25 support test after testing it several times over the past week.

The price is moving below the 7-20 moving averages which are resistance to the price.

While the 50 average is still below the price and constitutes a positive pressure on the price.

Stochastic in a downtrend towards the oversold area so we can see a drop in the price and try to test

the support 104.65

General trend of the movement: bearish.

The US dollar fluctuated in a narrow range slipping into the US session to see its rebound for the second consecutive session from its highest since July 10, when it tested its highest since late May against the Japanese Yen following developments and economic data that followed the Japanese economy. The US economy is the world's largest economy, which includes the decisions and directions of monetary policy makers in the Federal Reserve and Federal Reserve Governor Jerome Powell's press conference.

At 06:28 GMT, the USDJPY dropped 0.07% to 108.53 from the opening level at 108.61, after hitting a session low of 108.50 and a high of 108.65.

We followed the Japanese economy, the third-largest economy in the world, to release housing data as the annual index of construction starts rose 0.3% from 8.7% in May, beating expectations for a 2.2% decline. In line with the consumer confidence reading, which showed a drop to 37.8 versus 38.7 in June, worse than expected at 38.5.

This comes hours after the Bank of Japan decided to keep rates unchanged at 0.10% amid maintaining the asset purchase program unchanged and future interest rate trends. With the Bank of Japan cutting its inflation and growth forecasts, Held by Bank of Japan Governor Haruhiko Kuroda in Tokyo, who noted his willingness to expand stimulus if needed.

On the other hand, investors are currently waiting for the US economy to release preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the acceleration of job creation to 150 thousand jobs added to 102 thousand jobs added in June, before Hours of disclosure of the monthly report of non-agricultural jobs and unemployment rates in addition to the average income per hour for the month.

This comes before we also see later in the day by the world's largest economy reading the labor cost index, which may reflect a stable growth of 0.7%, unchanged from the first quarter, and before the disclosure of the Chicago Purchasing Managers Index May extend to 51.7 versus a contraction of 51.7 in June.

Leading to the release of the monetary policy statement of the Federal Open Market Committee meeting on July 30-31 and the Fed's decision on interest rates amid expectations that monetary policy makers will cut federal funds rates by 25 basis points to between 2% and 2% . This comes half an hour before the Fed's upcoming press conference, Jerome Powell.

Technical Analysis

The USD / JPY pair has been trading sideways since yesterday and stabilizes above SMA 50, noting that Stochastic is providing a positive cross signal now, supporting the resumption of the upside move to 108.93 and then opening the way towards our next positive target at 109.60.

Therefore, the bullish scenario will remain valid for the coming period provided that the price remains stable above 108.10.

The trading range for today is among the key support at 108.10 and resistance at 109.50

The general trend for today is bullish.

GBPUSD

The pair continues dropping vertically because of high risk of no-deal Brexit, which will lead to the beginning of a recession in the country. If the situation remains the same, the pair will be put under pressure even after the Fed's decision to lower interest rates.

The price is below middle Bollinger band, below the SMA 5 and SMA 14. RSI is in the oversold area. Stoch are also in this zone and make an attempt to turn upwards.

Trading recommendations:

The pair may correct up to 1.2210 due to the Fed's decision on interest rates. But if it does not go above the level of 1.2210 or even drops below the level of 1.2115, then will continuye further down to 1.1980.