Analytic reviews

The US dollar fell during the American session to see its rebound for the second session in a row from its highest since May 31 against the Japanese yen following developments and economic data that followed on the Japanese economy and on the eve of developments and economic data expected Thursday by the US economy, which includes the second half of Federal Reserve Governor Grum Powell's half-yearly testimony to Congress in Washington.

At 05:51 GMT, the USDJPY dropped 0.47% to 107.95 from the opening levels at 108.46, the pair's highest level during the session, while the lowest pair in six weeks at 107.86.

We followed the Japanese economy, the third largest industrial country in the world, to release industrial sector data with the Tertiary Industrial Index, which showed a decline of 0.2% from 0.8% in April, worse than the 0.2% drop. Hours of the final reading of industrial production, which may reflect the stability of growth at 2.3%, unchanged from the preliminary reading, versus 0.6% growth in April.

On the other hand, the markets are currently looking for the US economy to release inflation data with the release of the consumer price index, which may reflect zero-point stability versus 0.1% growth in May, while the core reading of the same index may show growth accelerating to 0.2% versus 0.1%. The annualized reading of the index may show a slowdown in growth to 1.6% from 1.8%, and the annual reading of the core may reflect growth stability of 2.0%.

This comes in conjunction with the publication of the requests for aid for the week ending on the sixth of this month, which may reflect a decline of 1 thousand applications to 220 thousand, and may indicate requests for continuing assistance for the week ending on June 29 decrease by 4 thousand applications to 1,682 thousand, To the second half of Federal Reserve Governor Jerome Powell's semi-annual testimony on monetary policy before the Senate Banking Committee.

We would like to point out that Powell made his first half-yearly testimony to Congress on monetary policy before the House Financial Services Committee on Wednesday, before the minutes of the Federal Open Market Committee meeting held on June 18-19, During which monetary policy makers at the Federal Reserve raised interest rates between 2.25% and 2.50% for the fourth consecutive meeting.

Technical Analysis

USD/JPY failed to breach the 108.93 level, retreating strongly and breaching 108.10 and settling below it, stopping the bullish corrective scenario and pressuring the pair to resume the main descending path again, paving the way for the recent low at 106.78 as the next major stop.

Therefore, the bearish trend will be expected during the coming sessions unless the price is able to breach the level of 108.10 and stability above it again.

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 rallied during the Asian session, their highest since July 3, when it tested its highest since May 14, 2013 amid the rebound of the dollar index for the third session of its highest since June 19 according to the reverse relationship On the eve of developments and economic data expected Thursday by the US economy, the largest economy in the world, which includes the second half of the Fed's semi-annual testimony of the Federal Reserve Graum Powell to Congress.

At 03:58 am GMT Gold futures for delivery August 15 0.37% currently trading at $ 1,426.40 per ounce compared with the opening at $ 1,421.10 an ounce, knowing that the contracts started trading session on the gap in the price of rising after the close of trades Yesterday at $ 1,412.50 per ounce, amid the decline of the US dollar index of 0.20% to 96.87 compared to the opening at 97.06.

The markets are currently looking for the US economy to release inflation data with the release of the Consumer Price Index (CPI), which may reflect stability at zero versus 0.1% growth in May, while the core reading of the same index may show growth accelerating to 0.2% vs. 0.1%. While the annual reading of the index may show a slowdown in growth to 1.6% from 1.8%, the annualized reading may reflect the stability of growth at 2.0%.

This comes in conjunction with the publication of the requests for aid for the week ending on the sixth of this month, which may reflect a decline of 1 thousand applications to 220 thousand, and may indicate requests for continuing assistance for the week ending on June 29 decrease by 4 thousand applications to 1,682 thousand, To the second half of Federal Reserve Governor Jerome Powell's semi-annual testimony on monetary policy before the Senate Banking Committee.

We would like to point out that Powell made his first half-yearly testimony to Congress on monetary policy before the House Financial Services Committee on Wednesday, before the minutes of the Federal Open Market Committee meeting held on June 18-19, During which monetary policy makers at the Federal Reserve raised interest rates between 2.25% and 2.50% for the fourth consecutive meeting

Technical Analysis

Gold is trading around 1425.00 after yesterday's bullish rally, as the pair stopped the bearish correction and returned to the upside again, near the pre-recorded high of 1438.90.

The moving average 50 supports the price from the bottom and the price within the ascending channel is resuming. Therefore, these factors encourage us to maintain the bullish bias in the coming sessions, noting that breaching the above mentioned level will push the price to 1500.00 as the next major station, Will stop the suggested rally and press the price to return to the corrective downward correction.

The trading range for today is expected among the support at 1410.00 and resistance at 1440.00.

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 third session retreat since June 19 against the US dollar on the eve of developments and economic data expected Thursday by Eurozone economies and the US economy, which includes disclosure The minutes of the ECB meeting and the Eurogroup meetings in Brussels, as well as the second half of the Fed's midterm testimony to the US Treasury.

At 04:47 GMT, the EUR / USD pair rose 0.22% to 1.1276, compared to the opening at 1.1251, the pair's low during the session, while the pair reached a high of 1.1281.

The markets are waiting for the euro zone's largest economy to release the final CPI reading, which could reflect a stable 0.3% growth, unchanged from the June preliminary reading and 0.2% in May before reading Of the same index for France, the region's second largest economy, which could reflect growth stability at 0.2% versus 0.1% in May.

This comes in conjunction with the meetings of the Eurogroup, attended by the President of the Euro Group, the Ministers of Finance of the member countries of the euro area, Commissioner of Economic and Monetary Affairs, as well as the Governor of the European Central Bank, which discuss many financial issues such as mechanisms to support the euro and government funding, The ECB's monetary policy held on the sixth of last month.

ECB monetary policy makers have endorsed the meeting to keep interest rates at current zero levels and stabilize the marginal lending rate at 0.25% while maintaining a negative interest rate of -0.40%. ECB President Mario Draghi said at the press conference that Held after the meeting at that time, that the European Central Bank is ready to cut interest rates to promote economic growth in the region.

Draghi also said that the ECB is ready to adopt a new monetary stimulus in the purchase of bonds to support economic growth in the euro area, adding that these actions come at a time of increasing uncertainty about trade disputes and their effects on the global economy, adding that the European Central Is ready to use all means and instruments available to it to drive economic growth and revive exports and European industry.

On the other hand, the markets are currently looking for the US economy to release inflation data with the release of the consumer price index, which may reflect zero-point stability versus 0.1% growth in May, while the core reading of the same index may show growth accelerating to 0.2% versus 0.1%. The annualized reading of the index may show a slowdown in growth to 1.6% from 1.8%, and the annual reading of the core may reflect growth stability of 2.0%.

This comes in conjunction with the publication of the requests for aid for the week ending on the sixth of this month, which may reflect a decline of 1 thousand applications to 220 thousand, and may indicate requests for continuing assistance for the week ending on June 29 decrease by 4 thousand applications to 1,682 thousand, To the second half of Federal Reserve Governor Jerome Powell's semi-annual testimony on monetary policy before the Senate Banking Committee.

We would like to point out that Powell made his first half-yearly testimony to Congress on monetary policy before the House Financial Services Committee on Wednesday, before the minutes of the Federal Open Market Committee meeting held on June 18-19, During which monetary policy makers at the Federal Reserve raised interest rates between 2.25% and 2.50% for the fourth consecutive meeting.

Technical Analysis

The EUR/USD pair opens today's trading positively to return to the bullish channel that appears in the picture, stopping the negative scenario suggested in our recent reports and pushing the price back to retrace the upside move on its way to gains starting at 1.1350 and extending to 1.1443.

Therefore, the bullish trend will be likely for today unless the 1.1265 level is broken and the daily closing below it.

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

The general trend for today is bullish.

Cisco is testing the 57.16 resistance level as the stock rallied again under influence  of the moving averages.

Where the moving averages move below the price and form support levels for the price and press it to rise.

Stochastic in the area of saturation of the purchase has not come out yet. And its exit from this region and the resistance level is holding a bearish signal for the price.

The general trend of the movement is bullish.

The Australian dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound for the second consecutive session from its lowest since June 21 against the US dollar following the economic data that followed the Australian economy and on the eve of developments and economic data expected Thursday by the US economy Which includes the semi-annual testimony of Federal Reserve Governor Jerome Powell to Congress in Washington.

At 0436 GMT, the AUDUSD rose 0.09% to 0.6965, compared to the opening levels of 0.6959, after reaching a high of 0.6968, while reaching a low of 0.6954.

On the Australian economy, the Melbourne Institute read consumer expectations for inflationary pressures, which showed a drop to 3.2% from 3.3% in June, before we saw housing market data with the release of the Home Loan Index, which showed stability at zero levels versus a decline 0.9% in April, beating expectations that the decline would drop to 0.6%.

On the other hand, the markets are currently looking for the US economy to release inflation data with the release of the consumer price index, which may reflect zero-point stability versus 0.1% growth in May, while the core reading of the same index may show growth accelerating to 0.2% versus 0.1%. The annualized reading of the index may show a slowdown in growth to 1.6% from 1.8%, and the annual reading of the core may reflect growth stability of 2.0%.

This comes in conjunction with the publication of the requests for aid for the week ending on the sixth of this month, which may reflect a decline of 1 thousand applications to 220 thousand, and may indicate requests for continuing assistance for the week ending on June 29 decrease by 4 thousand applications to 1,682 thousand, To the second half of Federal Reserve Governor Jerome Powell's semi-annual testimony on monetary policy before the Senate Banking Committee.

We would like to point out that Powell made his first half-yearly testimony to Congress on monetary policy before the House Financial Services Committee on Wednesday, before the minutes of the Federal Open Market Committee meeting held on June 18-19, During which monetary policy makers at the Federal Reserve raised interest rates between 2.25% and 2.50% for the fourth consecutive meeting.

Technical Analysis

The AUDUSD is showing some bullish bias to test SMA 50, which is positively affected by Stochastic, but since the price is below 0.7044, our bearish outlook remains valid for the coming period as the price settles within the descending main channel, The outlook starts at 0.6900 and extends to 0.6815.

The trading range for today is expected among the support at 0.6900 and the resistance at 0.7020.

The general trend for today is bearish.

EURUSD

The pair has frozen below 1.1280 in anticipation of the US inflation data and the ECB monetary policy meeting minutes. If the inflation figures are in decline, it will support the pair.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and is reversing downwards. Stoch are inside the overbought territory and aren’t informative.

Trading recommendations:

Buy the pair after it goes above 1.1280 with a possible target of 1.3250.

The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session to see its second session retreat since June 19 against the US dollar on the brink of developments and economic data expected Wednesday by Eurozone economies and the US economy, which include half The first from the Fed's midterm testimony to the US Congress in Washington and the release of the minutes of the FOMC meeting.

At 0538 GMT, the EURUSD rose 0.01% to 1.1209 compared to the opening at 1.1208 after the pair reached a high of 1.1210 and a low of 1.1202.

The markets are currently looking ahead to France's second-biggest economy for Industrial Production reading, which could reflect slowing growth to 0.3% versus 0.4% in the previous reading for April before we see the same indicator reading for Italy, the third largest economy in the region Which could be up 0.1% from 0.7% in April.

On the other hand, investors are currently awaiting the US economy for the final reading of the wholesale stocks index, which may show a stable growth of 0.4%, unchanged from the preliminary reading for May and against 0.8% growth in April, in conjunction with the launch of half The first from Federal Reserve Governor Jerome Powell's semi-annual policy on monetary policy to the House Financial Services Committee.

To reveal the minutes of the Federal Committee meeting held on June 18-19, during which Federal Reserve policy makers kept benchmark interest rates between 2.25% and 2.50% for the fourth meeting in a row, revealing their expectations at the time Federalism over growth rates, inflation and unemployment as well as future interest rates for the next three years.

Technical Analysis

The EUR/USD pair fluctuates around 1.1200, and the price is moving within a bearish intraday channel that supports chances of breaching 1.1180 to open the way towards our next negative stop at 1.1100.

In general, we continue to favor the downside for the coming period unless the breach of 1.1265 is breached above it, supported by the 50 moving average which is negatively impacting the price. Stochastic is gradually losing its positive momentum to support the resumption of the expected bearish trend.

The trading range for today is among the key support at 1.1130 and resistance at 1.1275.

The general trend for today is bearish.

The Australian dollar fluctuated in a narrow range, slipping during the Asian session to see its fifth straight session retreat since May 7 against the US dollar following the economic data that followed the Australian economy and on the brink of economic developments and data expected Wednesday by the economy The world's largest economy and the Fed's semi-annual testimony.

At 04:27 GMT, the AUDUSD fell 0.10% to 0.6921 compared to the opening levels of 0.6928, after hitting a 21 June low of 0.6919. The session is trading at 0.6931.

We have followed the Australian economy to unveil the WISPAC Consumer Confidence Index, which showed a contraction of the decline to 0.4.1% from 0.6% in June. On the other hand, investors are currently waiting for the US economy to release the final reading of the wholesale stocks index which May show a stable growth of 0.4%, unchanged from May's preliminary reading and 0.8% growth in April.

Coinciding with the launch of the first half of Federal Reserve Governor Jerome Powell's half-yearly monetary policy testimony before the House Financial Services Committee. This comes before we see the Federal Open Market Committee member and St. Louis Federal Reserve Chairman James Pollard at the forum meeting The official cash and financial institutions of St. Louis.

To reveal the minutes of the Federal Committee meeting held on June 18-19, during which Federal Reserve policy makers kept benchmark interest rates between 2.25% and 2.50% for the fourth meeting in a row, revealing their expectations at the time Federalism over growth rates, inflation and unemployment as well as future interest rates for the next three years.

Technical Analysis

The AUDUSD traded with a remarkable negative yesterday to near our first target of 0.6900, and we believe that the road is open for further downside in the coming sessions, noting that the above mentioned level will extend the downside wave to 0.6815 as a next stop.

Therefore, we will continue to bias the bearishness over the short and short term provided stability below 0.7044.

The trading range for today is expected among the support at 0.6840 and resistance at 0.6980.

The general trend for today is bearish.

Aeroflot rose above resistance levels 102.81-107.25 and reached resistance at 112.33 and rebounded support 107.25 where there is a moving average 7.

The price is moving above the moving averages moving below it in the ascending order of 7-20-50, respectively.

The price above the support 59.66 is a prerequisite for the continuation of the uptrend.

Stochastic after exiting the zone of saturation of the purchase therefore there is a great possibility of landing.

General trend of the movement: bearish.

The US dollar fluctuated in a narrow range inclined to rise during the US session to witness the highest since May 31 against the Japanese yen following developments and economic data that followed on the Japanese economy and on the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world Which includes the first half of the Fed's midterm testimony to the US Congress in Washington, to reveal the minutes of the FOMC meeting.

At 0616 GMT, the USDJPY rose 0.04% to 108.89 from the opening level at 108.85 after the pair hit a six-week high of 108.99, while the session ended at 108.83.

We followed the Japanese economy, the world's third-largest economy, to reveal inflation data with the PPI reading, a preliminary indicator of inflationary pressures, showing a contraction of 0.5% from the previous May and 0.1% The index itself contracted 0.1% versus 0.6% growth in May, worse than expected to slow growth to 0.4%.

On the other hand, investors are currently awaiting the US economy for the final reading of the wholesale stocks index, which may show a stable growth of 0.4%, unchanged from the preliminary reading for May and against 0.8% growth in April, in conjunction with the launch of half The first from Federal Reserve Governor Jerome Powell's semi-annual policy on monetary policy to the House Financial Services Committee.

To reveal the minutes of the Federal Committee meeting held on June 18-19, during which Federal Reserve policy makers kept benchmark interest rates between 2.25% and 2.50% for the fourth meeting in a row, revealing their expectations at the time Federalism over growth rates, inflation and unemployment as well as future interest rates for the next three years.

Technical Analysis

The USD/JPY pair is attempting to breach the 108.93 level now, bolstering expectations of a rising correction wave, targeting 109.60 as the next major station.

SMA 50 continues to support the suggested bullish wave, which is organized within the ascending channel shown in the image, while stability above 108.10 is an important condition for the continuation of the suggested bullishness.

The trading range for today is among the key support at 108.30 and resistance at 109.70.

The general trend for today is bullish.