Analytic reviews

The US dollar fluctuated in a narrow range slipping into the US session to see its rebound for the second session of its highest since June 19 against the Japanese yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and amid the lack of economic data on Tuesday from Ahead of the US economy, the world's largest economy.

At 05:51 am GMT, the pair dropped 0.10% to 108.34, compared to the opening levels at 108.45 after the pair reached a low of 108.28 and a high of 108.47.

We followed the Japanese economy to reveal the annual reading of the monetary base index by the Bank of Japan, which showed accelerated growth to 4.0% compared to 3.6% in May, contrary to expectations that indicated a slowdown in growth to 3.4%. The Central Bank Japan has been using this indicator as its main operational target for the monetary base scheme since April 2013.

On the other hand, investors are currently looking forward to what Federal Reserve Federal Reserve Chairman and Federal Reserve Bank of New York Chairman John Williams, who is scheduled to take part in a panel discussion on the future of global economic and monetary policy at the event in Zurich, Swiss Union.

Technical Analysis

USD/JPY is trading above the resistance of the descending channel, and the price remains above the 23.6% Fibonacci level, awaiting the continuation of the upside correction which is next target at 108.90.

Therefore, we will keep our bullish outlook steady above 107.95, with a breach of 108.90 to pay directly to 109.60.

The trading range for today is among the key support at 107.95 and resistance at 109.10ю

The general trend for today is bullish.

EURUSD

The pair is trading above 1.1280. It may correct upwards to 1.1315, but then reverse and resume falling due to the expected softer monetary policies by the ECB.

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

Trading recommendations:

Sell the pair as it’s growing from approximately 1.1315 with a possible target of 1.1230 or after it drops below 1.1280.

Gold futures fell for a fourth session in five sessions from its highest since May 14, 2013 as the dollar index rose for the third session in five sessions from its lowest since March 20 according to the inverse relationship between them following developments and data Economic growth that followed the Chinese economy, the world's largest consumer of metals, on the brink of economic developments and data that followed the US economy, the world's largest economy, and hours after the events of the G-20 summit in Japan.

Gold futures for August delivery fell 0.49% to currently trade at $ 1,394.90 per ounce compared with the opening at $ 1,401.80 an ounce. The contracts started today trading on a bearish price gap after closing For the first half of this year at $ 1,413.70 an ounce, amid the dollar index rose 0.11% to 96.36, explaining that he resumed his bounce from the lowest in more than three months compared to the opening at 96.25.

We have followed the release of the China Purchasing and Logistics Managers' Index (CFLP) on the readings of the Industrial and Service Purchasing Managers Index, which reported the stability of the industrial sector at a value of 49.4, unchanged from the previous reading in May, worse than expected Contraction to 49.5, while the expansion of the service sector to 54.2 in line with expectations compared to 54.3 in May.

On the other hand, investors are currently waiting for the US economy to release the final PMI index by Markit for the United States, the world's largest industrial country, which may reflect the stability of the widening at 51.0, unchanged from the previous June preliminary reading And 50.5 in May.

Before we see the index of the Institute of Industrial Supply Institute, which may show a contraction of the breadth to 51.3 compared to 52.1 in May, as may show reading the same index measured in prices reduced the breadth to 52.9 compared to 53.2, in conjunction with the publication of the index of expenditure on Which could reflect a 0.1% rise versus stability at zero levels last April.

President Donald Trump and his Chinese counterpart, President Xi Jinping, during the G20 summit, after meeting together in Osaka, expressed their unwillingness to impose new tariffs on goods, as well as Sameh Trump of Huawei Technologies Chinese market, which stimulated risk appetite in the markets to weigh on gold prices.

Technical Analysis

Gold opened today with a strong bearish break to break the 1400.00 level and settle below it, as it completed the formation of a double top pattern showing its image features, putting the price under corrective downward pressure again on its way to visit the level 1376.30 initially.

Therefore, the downside bias will be expected for today if the price does not break above the 1400.00 level and stability above it again, noting that exceeding the target level will extend the corrective correction to 1357.00 as a next stop.

The trading range for today is among the support at 1376.00 and resistance at 1400.00.

The general trend for today is bearish.

The single currency of the European Union region fell during the Asian session in the first session of the week, the current month and quarter to see its rebound for the third session in five sessions of its highest since March 21 against the US dollar on the eve of economic developments and data expected on Monday by the economies The eurozone and the US economy are the largest economy in the world.

At 05:07 am GMT, the EURUSD dropped 0.31% to 1.1335, the pair's lowest since June 21, compared to the opening at 1.1370, while the pair reached a high of 1.1376.

The markets are looking for Spain, the fourth-largest economy in the euro zone, to see the industrial PMI reading, which may reflect a contraction at 49.6 versus 50.1 in May, before we see the same indicator reading Italy, the third largest economy in the region, Deflation to 48.9 versus 48.6 in May.

This comes ahead of the final reading of the PMI for France, the second largest economy in the Eurozone and Germany, the region's biggest economy, as well as the Euro-Zone economies as a whole, which may reflect a widening stability at 52.0 in France from 50.6 in May, 45.4 in Germany versus 44.3 in May, and deflation stabilized at 47.8 in the region as a whole against 47.7.

In addition to a reading of the unemployment rate for Germany, which may show a contraction of one thousand to 60,000 in May and a reading of unemployment rates for Italy, which may show a rise to 10.3% from 10.2% in April, The euro-zone money supply and special loans for the euro area as a whole, leading to a reading of unemployment rates for the region as a whole, which may show stability at 7.6%.

On the other hand, investors are currently waiting for the US economy to release the final PMI index by Markit for the United States, the world's largest industrial country, which may reflect the stability of the widening at 51.0, unchanged from the previous June preliminary reading And 50.5 in May.

Before we see the index of the Institute of Industrial Supply Institute, which may show a contraction of the breadth to 51.3 compared to 52.1 in May, as may show reading the same index measured in prices reduced the breadth to 52.9 compared to 53.2, in conjunction with the publication of the index of expenditure on Which may reflect a 0.1% rise versus stability at zero levels in April.

Technical Analysis

EURUSD found it difficult to continue its bullishness in the last sessions, trading negatively and drawing a double top pattern showing the chart above. The confirmation level is at 1.1350, which means that breaking it will put the price under negative pressure targeting the 1.1280 areas initially. The ascending channel is at 1.1225.

Therefore, the bearish bias will be likely for today, taking into account that the breach of 1.1385 will stop the proposed negative scenario and push the price to resume the ascending channel again.

The trading range for today is among the key support at 1.1250 and resistance at 1.1420.

The general trend for today is bearish.

The Australian dollar fell during the Asian session in the first session of the week, the current month and quarter to see its rebound from the highest since May 7 against the US dollar following developments and economic data that followed the Australian economy and on the eve of developments and economic data expected on Monday by the economy The largest economy in the world.

At 0237 GMT, the AUDUSD fell 0.39% to 0.7003, compared to the opening levels of 0.7030, after reaching a low of 0.6996, while the highest in eight weeks at 0.7036 . The pair opened this week, the current month and quarter, on a bullish price gap after closing the first half of this year at 0.7020.

We have followed the Australian economy to reveal the manufacturing index reading by the Australian Industrial Group, which reflected contraction at a value of 49.4 against a widening at 52.7 in May, before we see the reading of the index of inflation by the Institute of Melbourne (MI) ), Which showed stable stability at zero levels, unchanged from May, while the annual reading of the same index showed that growth slowed to 1.6% from 1.7%.

This came on the eve of the June CPI reading and hours before Tuesday's disclosure of the decisions and directions of monetary policy makers at the Reserve Bank of Australia with the release of the Australian Central Bank's monetary policy statement and interest rates amid expectations of lower leader prices for the second consecutive meeting By 25 basis points to 1.00% from 1.25%, leading to the forthcoming speech by Reserve Bank of Australia Governor Philip Lowe at the Central Bank of Australia's dinner in Darwin.

On the other hand, investors are looking for the US economy to release the final PMI index by Markit from the United States, which may reflect the stability of the widening at 51.0, unchanged from the previous reading of the previous month compared to 50.5 in May, Before we see the Industrial Supply Institute index reading, which may show a narrowing to 51.3 versus 52.1 in May, and the same price index may show a contraction of 52.9 vs. 53.2.

Technical Analysis

AUDUSD came just a few points ahead of our target at 0.7044 and starts to bounce back from there, showing that the price is only at 23.6% Fibonacci correction, especially as Stochastic is showing negative signs now, Downlink Main Channel.

Therefore, these factors support the possibility of starting a bearish wave over the short term and the short term, with the price targeting 0.6900 and then 0.6835 as the next major stations, taking into consideration that the break of 0.7044 will stop the expected decline and lead the price to achieve further gains.

The trading range for today is expected among the support at 0.6930 and the resistance at 0.7044.

The general trend for today is bearish.

There is nothing new in the movement of the shares of Sberbank. The price moves at the minimum of the ascending channel in which it moves near support level of238.53.

Movement is under the influence of moving averages 20-50 moving below the price and forming support levels for the price.

Stochastic is on the upside, boosting the chances of a rally.

Expected movement between support 211.40 and resistance 258.39.

General trend of the movement: upward.

The US dollar rose during the US session in the first session of the week, the month and quarter this quarter to see its rebound to the third session in five sessions of its lowest since January 3 against the Japanese yen following developments and economic data that followed on the Japanese economy and on the eve of economic developments and data Expected on Monday by the US economy, the world's largest economy.

At 05:56 am GMT, the pair rose 0.18% to 108.31 compared to the opening levels at 108.11 after the pair reached its highest level since June 19 at 108.51, The session opened at 108.07, with the pair opening the week, the month and the quarter on the current gap in the price of rising after the close of the first half of this year at levels of 107.85.

We have followed the Japanese economy, the world's third-largest economy, to reveal the Industrial and Service Tankan Index, which showed the contraction of the industrial sector to a value of 7 to 12 in the first quarter, worse than expectations of a contraction to 9, while the service sector expanded to From 23 to 21 in the first quarter, in contrast to expectations of a 20-fold contraction.

This was before the third-largest industrial nation also saw the release of the Nikkei PMI, which showed a contraction of 49.3 from the previous month's 49.5 reading and 49.8 in May. To 38.7 versus 39.4 in May, worse than expected at 39.2.

On the other hand, investors are currently waiting for the US economy to release the final PMI index by Markit for the United States, the world's largest industrial country, which may reflect the stability of the widening at 51.0, unchanged from the previous June preliminary reading And 50.5 in May.

Before we see the index of the Institute of Industrial Supply Institute, which may show a contraction of the breadth to 51.3 compared to 52.1 in May, as may show reading the same index measured in prices reduced the breadth to 52.9 compared to 53.2, in conjunction with the publication of the index of expenditure on Which could reflect a 0.1% rise versus stability at zero levels last April.

Technical Analysis

USDJPY started trading today with a bullish wave to move above the resistance of the descending channel appearing in the picture, opening the way for a bullish correction to start over the intraday basis, with the positive targets beginning to test the 108.90 level.

Therefore, the upside will be expected for today unless the level of 108.00 is broken and stability below it, noting that the breach of the target level will extend the upside wave to reach 109.60 as a next stop.

The trading range for today is among the key support at 107.80 and resistance at 109.00.

The general trend for today is bullish.

EURUSD

The pair has breached the support level of 1.1340 against the backdrop of the strengthening USD rate, as well as the less expected active interest rates reduction by the Fed and the continuing decline of German and eurozone economy’s growth. Also, the USD receives significant support from the growing profitability of Treasurys.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages suggest selling. RSI is below the level of 50% and is moving down. Stoch are falling and entering the oversold territory.

Trading recommendations:

Sell the pair as it’s likely to go down to 1.1270.

The US dollar fluctuated in a tight range slipping into the US session to see its rebound for the second consecutive session from its highest since June 19, while it is still in weekly gains and the second consecutive monthly loss against the Japanese Yen following developments and economic data that followed it. The Japanese economy and coincided with the events of the G20 summit in Osaka, Japan, and on the eve of developments and economic data expected Friday by the US economy, the largest economy in the world.

At 0620 GMT, the pair dropped 0.09% to 107.69, compared to the opening levels at 107.79 after reaching the lowest level at 107.56, while the highest at 107.84.

We followed the Japanese economy, the world's third-largest economy, to reveal inflation data with the Tokyo CPI reading, which showed a stable 1.1% growth, unchanged from May, in contrast to expectations for a 1.0% contraction in growth. The substantial annual reading of the index itself, excluding fresh food, showed a slowdown in growth to 0.9% from 1.1%, worse than expectations of 1.0%.

In the same context, the Tokyo Core CPI, excluding fresh food and energy, showed a stable 0.8% growth, unchanged from May, as opposed to expectations of 0.8%. This coincided with the release of labor market data which reflected the stability of unemployment rates At 2.4% in line with expectations, little changed from last April.

To an initial reading of industrial production for the world's third-largest industrialized nation, which showed growth accelerated to 2.3% from 0.6% in April, beating expectations of a 0.7% growth rate. Versus 1.1% in the previous April reading, also outperforming expectations of a 2.9% expansion.

In addition, investors are eyeing the G20 summit in Japan as markets look forward to a meeting between US President Donald Trump and his Chinese counterpart, Shi Jinping, on Saturday, amid investors' pricing of opportunities to resolve trade disputes between the two biggest economies in the world. And Beijing last month to raise tariffs on each other's goods to 25% of 10%.

On the other hand, investors are currently looking for the US economy to reveal their spending and personal income data, which may reflect a faster growth in personal spending to 0.5% from 0.3% in April, and personal income growth slowing to 0.3% from 0.5% in April, while The reading of the Core Personal Consumption Expenditures Index may show stability at 0.2% in May, little changed from April.

This comes ahead of the Chicago PMI reading, which may reflect a narrowing to 54.0 versus 54.2 last May and before the final reading of the University of Michigan Consumer Confidence Index, which may reflect a contraction of 97.4 as compared to the initial reading For June at 97.9 and against 100.0 in May.

Technical Analysis

The USD / JPY pair rebounded after testing the resistance of the descending channel yesterday, breaking the 107.80 level and stabilizing below it, which supports our continued bearish outlook for the short and medium term, and the path is open to achieving our first target at 106.75.

We note that breaking the target will push the price to 106.00 as the next target, while the expected drop will remain intact unless the 108.15 level is breached and stability above it.

The trading range for today is expected among the support at 106.75 and the resistance at 108.15

The general trend for today is bearish

Gold futures rallied during the Asian session, marking the sixth weekly gain, the longest weekly gain in three years and the second consecutive monthly gain, keeping the USD index for a third session in four sessions since its March 20 low, according to the inverse relationship between them. On the eve of developments and economic data expected Friday by the US economy, the largest economy in the world in conjunction with the launch of the G20 summit in Osaka, Japan.

Gold futures for August delivery rose 0.70% to currently trade at $ 1,423.20 per ounce compared to the opening at $ 1.413.30 an ounce. The contracts opened today with a bullish price gap after closing At $ 1,412.00 an ounce, defying the dollar's rise of 0.03% to 96.22, showing a three-month low from the opening at 96.19.

Investors are currently looking for the US economy to reveal their spending and personal income data, which may reflect the acceleration of personal spending growth to 0.5% from 0.3% in April, and personal income growth slowing to 0.3% from 0.5% in April. The Core Personal Consumption Expenditures Index stabilized at 0.2% in May, unchanged from April.

This comes ahead of the Chicago PMI reading, which may reflect a narrowing to 54.0 versus 54.2 last May and before the final reading of the University of Michigan Consumer Confidence Index, which may reflect a contraction of 97.4 as compared to the initial reading For June at 97.9 and against 100.0 in May.

In addition, investors are looking to the G20 summit in Japan and look forward to the upcoming meeting between US President Donald Trump and his Chinese counterpart Xi Jinping on the sidelines of the summit, following remarks by US Vice President of Asia Charles Freeman at the US Chamber of Commerce - that any possible new tariff on the remaining Chinese imports "does not necessarily mean" full fees 25%.

US Treasury Secretary Stephen Manuchen said Wednesday he believed there was a "way" for the United States and China to complete a trade deal, adding that 90 percent of the trade deal with China had been completed amidst his On his hopes to reach a trade agreement with China as soon as possible, adding that it is not possible to determine the date of approval of the trade agreement with China.

President Trump noted earlier that China could expect to face more tariffs on its exports to the country, adding that America has already prepared a list of Chinese goods worth $ 300 billion, and that this list may be subject to fees, From Washington and Beijing last month to raise tariffs on each other's goods to 25% of 10% in an escalation of trade protection among them.

On Tuesday, Fed Governor Jerome Powell said that broad market expectations of a federal interest rate cut at the next FOMC meeting were not necessarily achieved, limiting opportunities for short-term interest rate cuts by Bank of England Federal Reserve at the next meeting in July.

Technical Analysis

The price of gold opened today with a strong rally to break through 1411.00 and 1420.00 and the last four hours closing above it, pushing the pair back to the upside and stopping the suggested bearish correction in our recent reports on its way to visit the recent high of 1438.90 as the next major station.

Therefore, the bullish trend will be likely in the coming sessions unless the level of 1400.00 is broken and stability below it.

The trading range for today is expected among the support at 1400.00 and the resistance at 1440.00

The general trend for today is bullish