Analytic reviews

EURUSD

The pair broke out of the range of 1.1200-1.1280 amid the expected economic stimulus measures by the ECB and the uncertain future monetary policy of the Federal Reserve. The pair will remain under pressure locally.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is decreasing. Stoch are in oversold territory.

Trading recommendations:

Expect the price to continue falling to 1.1125.

Google shares continue to fluctuate around the resistance 1137.55 to continue to move within the ascending channel. .

  Price action under the influence of positive pressure of the moving averages 20-50, which move below the price and constitute support levels.

Stochastic is in a sideways movement after it was in a downtrend which is a signal for the correction to end and start to climb.

  General direction of the movement: ascending path

Gold futures fell during the Asian session to see their rebound for the third consecutive session of its highest since May 10, 2013 amid the rise of the dollar index according to the inverse relationship between them on the eve of developments and economic data expected Tuesday by the US economy largest economy The world is looking forward to the developments of trade negotiations between the United States and China and the developments of the Middle East.

Gold futures for August delivery fell 0.52% to currently trade at $ 1,418.60 per ounce from the opening at $ 1,426.00 per ounce. The dollar index rose 0.08% to 97.39 compared to the opening at 97.32.

US investors are eyeing the Home Price Index (CPI), which may reflect slowing growth to 0.3% versus 0.4% in April, before we see the Existing Home Sales Index, which may show a 2.5% rise to 5.35 million homes versus a drop 0.1% at 5.34 million homes in May, and in conjunction with the Richmond Industrial Index reading, which may extend to 5 to 3 in June.

Other than that, we followed the remarks of US President Donald Trump earlier this week that he was working with his Chinese counterpart Xi Jingping to reach a trade agreement between the United States and China and that work to solve the crisis of the Chinese company Huawei exists, That it is difficult to reach an agreement with Iran and that his administration is following closely the current situation with Iran.

US President Trump recently allowed US Republican Senator Randall Paul to negotiate with Iran to calm tensions in the Gulf. US Secretary of State Mike Pompeo said on Monday that his country did not want to go to war with Iran, Paying full attention to its own oil vessels and protecting its vessels.

This came in tandem with the escalation of tensions between Iran and the United Kingdom against the backdrop of the detention of Iranian Revolutionary Guard forces to two British oil vessels in the Straits of Hormuz last week and the release of one while the other was detained amid the assessment of observers that this is a response to the Kingdom's detention of an Iranian ship in the Strait of Gibraltar recently , British Foreign Secretary Jeremy Hunt also expressed yesterday that his country is committed to the nuclear agreement with Iran.

British Foreign Secretary Hunt called on Britain's British flag vessels to give notice of the intention to pass through the Strait of Hormuz to provide protection. British forces can not accompany all British ships. If Iran continues this dangerous approach, the kingdom will have to accept the price. There will be a greater military presence in the waters of the Gulf

In another context, last Friday we followed FOMC Chairman and New York Bank Chairman John Williams to his recent remarks, saying that his latest speech was not about possible monetary policy

measures at the next meeting of the Commission, which dampened market speculation that the interest rate cut On federal funds by 50 basis points by the end of this month.

In the same vein, we also followed Friday the Wall Street Journal's view that the Federal Reserve may cut interest rates at the July 30-31 meeting by only 25 basis points, and that the monetary policy makers of the Federal Commission may make further cuts in the future depending on Growing uncertainty about global growth and global trade.

Technical Analysis

The price of gold starts today negatively to press the bullish trend line, and we expect the most important support test 1410.90 before resuming to resume the bullish trend again.

So far, the overall positive scenario remains valid with stability above the support mentioned above, as breaking it will push the price to start a downside correctional wave with its first major target at 1385.00, while the expected bullish wave targets start at 1450.00 and extend to 1500.00.

The trading range for today is among the support at 1405.00 and resistance at 1440.00

The general trend for today is bullish.

The US dollar rose during the US session to bounce back to its third low since June 26 against the Japanese yen amid a lack of economic data earlier this week by the Japanese economy, the world's third-largest economy and the world's largest economy.

At 05:56 am GMT, the pair rose 0.17% to 107.97 from the opening level at 107.79, after reaching the highest level at 108.07, while achieving a low of 107.70. The pair ended last week's trading at 107.71 before starting the week's trading on a bullish price gap.

Investors are waiting for what the Governor of the Bank of Japan, Haruhiko Kuroda, will say at the International Monetary Fund in Washington, DC. Otherwise, we followed Sunday the victory of Japanese Prime Minister Shinzo Abe's ruling coalition by a majority in the Japanese upper house. Which has recently escalated between Japan and South Korea and which may continue as Abe continues to lead the country.

On the other hand, markets are looking for the US economy this week to reveal the data of the housing market and the data of the service sector and industrial, before the reading of the durable goods demand index next Thursday, to reveal the end of the week for the preliminary reading of GDP for the second quarter, which may The slow pace of growth for the world's largest economy reflects 1.8 percent, the slowest pace of growth in the US economy in two years.

Technical Analysis

The USD / JPY pair is showing positive trading now to retest the previously broken neckline of the head and shoulders pattern, and the SMA 50 meets the current resistance areas to add more strength to it, in conjunction with the overbought signs of Stochastic.

Therefore, we believe that opportunities are available to trade negatively during the coming sessions, targeting 106.78 mainly, while stability below 108.10 is a key condition for achieving this target.

The trading range for today is expected among the support at 107.00 and the resistance at 108.50

The general trend for today is bearish.

Gold futures traded in a tight range slipping into the Asian session to see their second straight session retreat since May 10, 2013 as the US dollar index rose for a second straight session as the economic data was mixed with Early this week by the US economy, the world's largest economy.

Gold futures for August delivery fell 0.05% to currently trade at $ 1,427.80 per ounce compared with the opening at $ 1,428.50 per ounce. The contracts started the trading session on a bullish price gap after closing the trading session. Last week at $ 1,426.70 an ounce, amid the dollar index rose 0.03% to 97.17 compared to the opening at 97.15.

Investors are waiting for what the Governor of the Bank of Japan, Haruhiko Kuroda, will say at the International Monetary Fund in Washington, DC. Otherwise, we followed Sunday the victory of Japanese Prime Minister Shinzo Abe's ruling coalition by a majority in the Japanese upper house. Which has recently escalated between Japan and South Korea and which may continue as Abe continues to lead the country.

In another context, last Friday we followed FOMC Chairman and New York Bank Chairman John Williams to his recent remarks, saying that his latest speech was not about possible monetary policy measures at the next meeting of the Commission, which dampened market speculation that the interest rate cut On federal funds by 50 basis points by the end of this month.

In the same vein, we also followed Friday the Wall Street Journal's view that the Federal Reserve may cut interest rates at the July 30-31 meeting by only 25 basis points, and that the monetary policy makers of the Federal Commission may make further cuts in the future depending on Growing uncertainty about global growth and global trade.

Technical Analysis

Gold has rebounded after testing the $ 1450.00 barrier to move closer to the bullish trend line shown in the image, and the 50 SMA meets this support to add more strength to it, noting that Stochastic is beginning to provide a positive cross signal over the 4-hour time frame.

Therefore, these factors encourage us to tilt the bullish trend during the coming sessions, and the price needs to breach the 1450.00 level to confirm the opening of the way towards the next main target of 1500.00, keeping in mind that breaking the 1410.90 will stop the expected rise and press the price to start a bearish correction On the intraday basis.

The trading range for today is among the key support at 1415.00 and resistance at 1460.00

The general trend for today is bullish.

The single currency of the European Union region fluctuated in a tight range to retreat during the Asian session to see its rebound for the second consecutive session from its highest since July 15 against the US dollar on the eve of developments and economic data expected Monday by the largest eurozone economies Germany Amid a lack of economic data earlier this week by the US economy, the world's largest economy.

At 5:18 am GMT, the EURUSD dropped 0.02% to 1.1216, compared to the opening at 1.1218, after reaching the lowest level at 1.1208, while reaching a high of 1.1221. Last week ended at 1.1221 before opening this week on a bearish price gap.

In addition, last week we followed the threat of Liga leader and Italian Deputy Prime Minister and Minister of Interior Matteo Salveni to dissolve the five-star government coalition and hold early parliamentary elections following a verbal spat with leaders. The movement, expressing the fact that the election window is always open and it is strange to participate in the government with those who offend you.

Technical Analysis

The EURUSD extended further negative trading near the pivotal support 1.1180. As seen in the picture, the price is moving within a sideways range that limits recent trading, so that the sideways bias is likely over the intraday basis until the price crosses one of its 1.1180 support and 1.1290 resistance.

We note that breaking this support will press the price to further decline towards 1.1180 initially, while breaching the resistance will stimulate the pair to resume attempts to recover and achieve positive targets starting at 1.1350 and extending to 1.1443.

The trading range for today is expected between 1.1130 and 1.1300 support.

Today's general trend: sideways.

The Australian dollar fluctuated in a tight range slipping towards the Asian session to see its rebound for the second consecutive session of its highest since April 24 against the US dollar amid a lack of economic data earlier this week by the Australian economy and its counterpart the US economy, the world's largest economy .

At 02:26 am GMT, the Australian dollar fell 0.07% to 0.7040, compared to the opening levels of 0.7045, after reaching a low of 0.7037, while achieving a high of 0.7048. The pair closed last week at 0.7042, before starting this week's trading on a bullish price gap.

Investors are currently looking for the Australian economy to give Assistant Governor of the Reserve Bank of Australia to the financial markets Christopher Kent a speech entitled "Commitment to Facilitate Liquidity" at the Bloomberg address in Sydney. This comes before we see next Thursday the Governor of the Reserve Bank of Australia Philip Lowe, "Targeting Inflation and Economic Wellbeing" at the Anika Foundation in Sydney.

On the other hand, markets are looking for the US economy this week to reveal data on the housing market and the service sector and industrial, before the reading of the durable goods demand index next Thursday, which represents about half of consumer spending, which represents more than two thirds of US GDP, This week's release of the preliminary GDP reading for the second quarter, which could reflect the slow pace of growth for the world's largest economy, was at 1.8 percent, the slowest pace of growth in the US economy in two years.

Technical Analysis

The AUDUSD traded slightly negative on Stochastic, but it is still above the previously breached resistance of the descending main channel shown in the image and gets positive support from SMA 50, so the positive scenario remains for the next period, awaiting a visit to the 0.7140 level Main.

Keep in mind that the continuation of the bullish trend requires stability of the price above the level of 0.6985.

The trading range for today is expected among the support at 0.7000 and the resistance at 0.7100.

The general trend for today is bullish.

Shares in Sberbank continue the bearish path after it came out of the bullish channel that was floating in it.

The price was able to break through the moving averages and the movement is under the moving averages 20-50-7 where it moves above the price and constitutes price resistance levels

Stochastic is within the oversold area in a sideways path in a bearish path

Expected movement between support 211.40 and resistance 258.39

General trend of the movement: bearish

The Australian dollar fluctuated in a tight range slipping towards the Asian session as it rebounded from its highest since April 24 against the US dollar amid a lack of economic data at the end of the week by the Australian economy and on the eve of economic developments and data expected on Friday by the economy American.

At 0239 GMT, the AUDUSD dropped 0.10% to 0.7068, compared with the opening levels of 0.7076, after recording a 0.7054 low, while a three-month high of 0.7082 .

Investors are now eyeing the US economy, the largest economy in the world, to reveal the preliminary reading of the University of Michigan consumer confidence index for July, which may reflect a contraction to 98.6 from 98.2 in June, as consumer expectations for inflation for the year One coming and five years ahead.

This comes ahead of the Federal Open Market Committee meeting at the annual meeting of the Central Bank Research Association in New York, including St. Louis Federal Reserve Chairman James Pollard on technology and the future of the monetary and financial system, and Federal Reserve Bank Chairman Eric Rosengren, who will participate in a panel discussion On the independence of central banks.

Technical Analysis

The AUDUSD shows further bullishness after confirming the breach of resistance of the descending channel appearing in the image, and moving within a bullish intraday channel that organizes the corrective correction wave, awaiting the test of 0.7140 as the next major station.

Therefore, we expect the bullish bias to continue in the coming sessions with steady price above 0.6985, noting that a breach of the target will push the price to 0.7205 as the next major station.

The trading range for today is expected among the support at 0.7020 and resistance at 0.7140

The general trend for today is bullish