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Aeroflot is back to test support 107.25 again after failing to breach resistance 112.33

The price has moved below the moving average of 7.

While the 20-50 averages remain below the price and constitute a positive pressure on the price.

Stochastic is in a downtrend that is overshadowing the oversold area so the price can break through 107.25 support.

General trend of the movement: bearish.

Gold futures traded in a tight range slipping during the Asian session to see their 11-day rally rebound in 16 sessions from its highest since May 14, 2013, shedding the USD index for the first time in three sessions according to the inverse relationship between them On the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world.

Gold futures for August delivery fell 0.09% to currently trade at $ 1,406.70 per ounce compared to the opening at $ 1,407.90 an ounce. The contracts started trading on a bearish price gap after closing Yesterday at $ 1,411.20 an ounce, while the dollar index rose 0.03% to 97.34 compared to the opening at 97.37.

Investors are currently waiting for the US economy to release data on the housing market with the Housing Starts and Construction Permits reading for June, expected to see building permits slow to 0.1% for 1,300K versus 0.3% at 1,294K. May, while the start-up homes may show a decline to 0.7% for 1,260,000 homes versus 0.9% at 1,269,000.

This comes before we see the disclosure of the book report Beige, which is important in being issued two weeks before the meeting of the Federal Open Market Committee, which is one of the pillars on which the monetary policy makers of the Federal Reserve decisions and directions to support and stimulate the US economy, knowing that the next meeting The next federal commission will be held on 30-31 of July.

Otherwise, we have followed Tuesday the US president said that the road is still long before talking about the possibility of reaching a trade agreement with China, with both the European Union and China are pumping money into their financial system, and his testimony that his administration can impose customs duties on imports America from China if desired, adding that the cut in the federal funds rate will support the stock markets and their rise.

US Treasury Secretary Stephen Minoch noted earlier this week that a telephone conversation with Chinese officials was expected later this week as part of the resumption of trade talks between the Washington-Washington trade agreement. In another context, Chinese Premier Li Kiping said that the risks The decline is growing against China's economic growth and his country will maintain prudent monetary policy and proactive fiscal policy.

Otherwise, we also followed yesterday. Fed Governor Jerome Powell said US inflation accelerated last month to 1.7%, saying inflationary pressures were still below 2% and that the Federal Reserve was "carefully watching" And will "act as necessary to maintain the expansion," he said in testimony before Congress last week.

Technical Analysis

The price of gold has tested a fresh test of 1400.30 and remains stable above it. The bullish scenario remains valid for the coming period as the price moves within a symmetrical triangle that shows its features, awaiting a breach of 1423.00 to facilitate the move toward our first major target at 1438.90.

On the other hand, keep in mind that a break of 1400.30 will press the price to make further bearish correction and visit 1376.30 areas in the near term.

The trading range for today is among the support at 1395.00 and resistance at 1425.00

The general trend for today is bullish.

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session against the US dollar on the eve of developments and economic data expected Wednesday by the Eurozone economies and the US economy, the world's largest economy.

At 0539 GMT, the EURUSD rose 0.04% to 1.1215, compared with the opening at 1.1211 after the pair reached a high of 1.1217 and the lowest at 1.1217.

Investors are now eyeing the Euro-zone economy as a whole to reveal inflation data with the release of the annual CPI reading, which could reflect a stable 1.2% growth, And the core annual reading of the index itself may show a stable growth of 1.1% versus 0.8% in May.

On the other hand, investors are currently looking for the US economy to release housing market data with the Housing Starts and Construction Permits reading for June, expected to see building permits slow to 0.1% for 1,300K vs. 0.3% 1,294 thousand in May, while the start-up homes may show a decline to 0.7% for about 1,260 thousand homes compared to 0.9% at 1,269 thousand homes.

This comes before we see the disclosure of the book report Beige, which is important in being issued two weeks before the meeting of the Federal Open Market Committee, which is one of the pillars on which the monetary policy makers of the Federal Reserve decisions and directions to support and stimulate the US economy, knowing that the next meeting The next federal commission will be held on 30-31 of July.

Technical Analysis

The EUR / USD pair is trading around the 1.1200 level, and the pair is facing a trade-off between the technical factors as the price moves below the support of the ascending intraday channel, which is under negative pressure formed by SMA 50, while the price remains above the pivotal support at 1.1180, Positive signals through stochastic.

Therefore, we prefer to remain neutral until we get a clearer signal for the next direction by breaking the resistance 1.1295 or break the support at 1.1180, noting that breaking this support will press the price to provide additional negative trades targeting the 1.1100 areas, Will push the price to resume the positive scenario with the following key targets at 1.1350 and 1.1443.

The trading range for today is expected among the 1.1120 support and the 1.1300 resistance

The expected general trend today: Depends on the levels mentioned in the report

The Australian dollar fluctuated in a tight range slipping towards the Asian session as it rebounded for the second consecutive session of its highest since July 4 against the US dollar following developments and economic data that followed it on the Australian economy and on the eve of developments and economic data expected on Wednesday by The US economy is the largest economy in the world.

At 0239 GMT, the AUDUSD fell 0.07% to 0.7007, compared to the opening levels of 0.7012, after reaching a low of 0.7006, while the highest at 0.7020. 

We followed the Australian economy to release the leading indicators from the Melbourne Institute, which showed a steady decline of 0.3% in June, hours after the Reserve Bank of Australia unveiled the minutes of the Australian Central Bank meeting held on July 2 which During which interest rates were cut by 25 basis points for the second straight session to a record low of 1.00% from 1.25%.

"The board will continue to closely monitor labor market developments and adjust monetary policy if necessary to support sustained growth and inflation target over time," said the minutes of the Reserve Bank of Australia's monetary policy meeting on Tuesday. "Low interest rates will provide more jobs for Australians and help Achieving secure progress towards the inflation target ".

On the other hand, investors are currently looking for the US economy to release housing market data with the Housing Starts and Construction Permits reading for June, expected to see building permits slow to 0.1% for 1,300K vs. 0.3% 1,294 thousand in May, while the start-up homes may show a decline to 0.7% for about 1,260 thousand homes compared to 0.9% at 1,269 thousand homes.

This comes before we see the disclosure of the book report Beige, which is important in being issued two weeks before the meeting of the Federal Open Market Committee, which is one of the pillars on which the monetary policy makers of the Federal Reserve decisions and directions to support and stimulate the US economy, knowing that the next meeting The next federal commission will be held on 30-31 of July.

Technical Analysis

The AUDUSD remains steady below 0.7044, and Stochastic is beginning to turn negative on today's intraday basis, prompting the pair to provide negative trading in the coming sessions targeting 0.6970 and 0.6900 respectively. Level of 0.7044.

The trading range for today is expected among the support at 0.6960 and the resistance at 0.7050

The general trend for today is bearish.

The US dollar fluctuated in a tight range slipping into the US session to see its rebound for the fourth session in six sessions from its highest since May 31 against the Japanese yen amid a lack of economic data earlier this week by the Japanese economy and on the eve of developments and economic data expected On Wednesday by the US economy, the world's largest economy.

At 06:26 GMT, the pair dropped 0.04% to 108.20 from the opening level at 108.25, after reaching a low of 108.11 and a high of 108.33.

Investors are currently waiting for the US economy to release data on the housing market with the Housing Starts and Construction Permits reading for June, expected to see building permits slow to 0.1% for 1,300K versus 0.3% at 1,294K. May, while the start-up homes may show a decline to 0.7% for 1,260,000 homes versus 0.9% at 1,269,000.

This comes before we see the disclosure of the book report Beige, which is important in being issued two weeks before the meeting of the Federal Open Market Committee, which is one of the pillars on which the monetary policy makers of the Federal Reserve decisions and directions to support and stimulate the US economy, knowing that the next meeting The next federal commission will be held on 30-31 of July

Technical Analysis

The USD / JPY pair traded positively yesterday to move above 108.10, but we see that Stochastic is showing negative signs. We expect to press the pair lower again, and by looking at the chart, we find that the price is drawing a head and shoulders pattern that we believe will stimulate the price to resume The main bearish trend again.

Therefore, the overall negative scenario will remain for the next period unless the breach of 108.40 and stability above it, noting that the break 107.85 will complete the formation of the negative model and push the price to 106.78 directly.

The trading range for today is expected among the key support at 107.40 and the resistance at 108.70

The general trend for today is bearish

GBPUSD

The pair is trading above the support level of 1.2400. It’s under a very strong pressure caused by the high likelihood of no-deal Brexit, which can happen after Boris Johnson takes over the office.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold territory and is reversing downwards. Stoch are also there and aren’t informative.

Trading recommendations:

Sell the pair after it goes below 1.2400 with a possibility of a drop to 1.2330.

Google shares broke through the resistance at 1137.55 and closed above it to continue moving within the ascending channel. Where the SMA 50 formed a barrier to the price but managed to break through it and move above it.

Price movement under the influence of positive pressure of the moving averages that move below the price and constitute levels of support for it.

Stochastic in the overbought area will push the price to test support levels at the 7-20 moving averages.

General direction of the movement: ascending path.

Gold futures traded in a tight range slipping during the Asian session to see their 10-session rally back in 15 sessions from its highest since May 14, 2013 as the US dollar index rose on the back of the economic calendar Tuesday by the US economy, the largest economy in the world, including the talk of Federal Reserve Governor Jerome Powell and many members of the Federal Open Market Committee.

Gold futures for August delivery fell 0.08% to currently trade at $ 1,415.30 per ounce compared to the opening at $ 1,416.40 an ounce. The contracts started the trading session on a bullish price gap after closing the trading session. Yesterday at $ 1.413.50 per ounce, amid the dollar index rose 0.01% to 96.93 compared to the opening at 96.92.

Investors are looking forward to Federal Reserve Vice Governor and Federal Open Market Committee member Michelle Bowman's opening remarks at the Federal Fed hearing in Atlanta before we see a reading of the import price index, which could reflect a 0.7% drop from 0.3%. May, and the index's annual reading may also show a widening of the decline to 2.1% versus 1.5%.

This comes in conjunction with the disclosure by the US economy of reading retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect slower growth to 0.1% versus 0.5% in May, as may appear reading Core for the same index slowed growth to 0.1% versus 0.5% in May.

Also, the world's largest industrial producer may see the Industrial Production Index reading, which may show a slowdown in growth to 0.1% from 0.4% in May, while the Energy Efficiency Index may show growth accelerating to 78.2% from 78.1% in May, Before we see the release of housing market data with the housing index reading released by the National Association of Home Builders, which may reflect stability at a value of 64 in June.

This comes in conjunction with the reading of wholesale stocks, which may indicate slowing growth to 0.4% versus 0.5% in April, leading to Federal Reserve Governor Jerome Powell delivering a speech entitled "Monetary Policy Aspects in the Post-Crisis Era" at the G7 Presidency French President of the Reserve Bank of Chicago and member of the Federal Committee Charles Evans in an interview with CNN-PBC.

Market speculation that Federal Reserve monetary policy makers will cut federal funds at the July 30-31 Federal Commission meeting widened last week after Federal Reserve Governor Paul delivered his biannual testimony to Congress. Following the disclosure, On the minutes of the Fed's latest meeting, which in turn supported cuts in interest rates by 25 basis points later.

Technical Analysis

The price of gold has been trading sideways since yesterday and is moving near the SMA 50 which continues to support the price from the bottom, noting that the price is confined within a symmetrical triangle shown in the image, which means that the breach of 1424.00 will provide a positive positive momentum supporting the continuation of the main bullish trend.

Therefore, we believe that opportunities are available to continue the bullish trend during the coming sessions, targeting 1438.90 as the next major station, noting that stability above 1400.30 is important for the continuation of the suggested positive scenario.

The trading range for today is expected among the support at 1400.00 and resistance at 1430.00.

The general trend for today is bullish.

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its fourth session retreat in its lowest six since June 19 against the US dollar on the eve of economic developments and data expected Tuesday by the Eurozone economies and the US economy The largest economy in the world, including the talk of Federal Reserve Governor Jerome Powell and many members of the Federal Open Market Committee.

At 04:49 GMT, the EURUSD rose 0.02% to 1.1260, compared to the opening at 1.1258 after the pair hit a session high of 1.1263 and the lowest at 1.1255.

Investors are currently waiting for Italy's third-largest economy to release the trade balance index, which could show a surplus of 2.91 billion euros from 2.89 billion euros in April, before we see the seasonally adjusted index of the trade balance index for economies The euro zone as a whole, which could explain the widening surplus to 16.4 billion euros from 15.3 billion euros in April.

This comes in conjunction with a statistical reading of the ZEW Economic Sentiment Index for Germany, the largest euro-zone economy and Eurozone economies as a whole, which may reflect the contraction of Germany's contraction to 22.1 from 21.1 last June and the contraction of the economies of the region as a whole. Worth 20.9 versus 20.2 in June.

On the other hand, investors are looking for Federal Reserve Vice President and Federal Open Market Committee member Michelle Bowman to make an opening remarks at the Federal Fed Hearing event in Atlanta before we see a reading of the import price index which could reflect a 0.7% 0.3% in May, and the same year's annual reading may show the widening of the decline to 2.1% versus 1.5%.

This comes in conjunction with the disclosure by the US economy of reading retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect slower growth to 0.1% versus 0.5% in May, as may appear reading Core for the same index slowed growth to 0.1% versus 0.5% in May.

Also, the world's largest industrial producer may see the Industrial Production Index reading, which may show a slowdown in growth to 0.1% from 0.4% in May, while the Energy Efficiency Index may show accelerated growth to 78.2% versus 78.1%. To witness the release of housing market data with the housing index reading released by the National Association of Home Builders, which may reflect stability at a value of 64 in June.

This comes in conjunction with the reading of wholesale stocks, which may indicate a slowdown in growth to 0.4% from 0.5% in April, leading to Federal Reserve Governor Jerome Powell delivering a speech entitled "Post-crisis monetary policy aspects" at the French G7 Presidency 2019 in Paris, ahead of the talk of Chicago Reserve Bank President and Federal Committee member Charles Evans in an interview with CNN-BC.

Technical Analysis

EUR/USD found it difficult to breach the 1.1290 level yesterday, to fluctuate around SMA 50, noting that Stochastic is showing positive signs now, waiting for the price to resume the positive attempts to breach this level and confirm the trend towards our awaited targets starting at 1.1350 then 1.1443 .

Therefore, our bullish trend remains valid for today as long as the price remains steady above 1.1245.

The trading range for today is expected between 1.1200 and 1.1360 support.

The general trend for today is bullish.