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The euro rose on Friday against a basket of global currencies on its way to the first gain after two days of stability against the US dollar, achieving its first quarterly gain since the first quarter of 2018, thanks to strong prospects for US interest rate cuts and Monetary policy between Europe and the US, this comes ahead of the release of important data from Europe on key inflation levels during June.

The euro rose against the dollar by 0.15% as of 07:15 GMT, trading at $ 1.1385, the opening price of the day at $ 1.1369, the highest at $ 1.1390 ​​and the lowest at $ 1.1360.

The euro ended yesterday's trading flat with little change against the dollar for the second day in a row as investors assessed developments in the US-China trade war ahead of the US-China meeting on the sidelines of the G20 meeting.

During the second quarter of this year, which officially ends at today's price adjustment, the euro has so far gained 1.5% against the dollar, making its first quarterly gain since the first quarter of last year.

This quarterly gain is due to the strong euro gains in June, with the single European currency gaining 2% on the verge of achieving its first monthly gain in 2019.

Fears of deepening monetary policy divergence between Europe and the United States have ebbed since late last week after the US Federal Reserve indicated its willingness to cut interest rates to meet rising global and domestic risks.

Investors are looking for important economic data from Europe on key inflation levels in June, providing more solid evidence on the future of monetary policy in Europe. Poor data could push the ECB to take a bumper of stimulus measures to counteract economic weakness and increase pressure. Recumbent.

By 09:00 the preliminary reading of the consumer price index for June is expected to rise by 1.2% the same as the previous reading, excluding food and fuel prices expected to rise by 1.0% from a rise of 0.8% the previous month.

Technical Analysis

EURUSD continues to fluctuate within the descending sub-channel forming the bullish flag pattern mentioned yesterday, waiting for a breach of 1.1375 to activate the positive effect of this pattern and then rush to achieve our key positive targets starting at 1.1443 and extending to 1.1565.

SMA 50 continues to support the suggested bullish wave, noting that a break of 1.1320 will press the price to test the 1.1265 levels and may extend to 1.1180 before any new attempt to rise.

The trading range for today is expected among the 1.1280 support and the 1.1443 resistance.

The general trend for today is bullish.

The Australian dollar fluctuated in a tight range slipping into the Asian session to see its rebound from its highest since June 7, when it tested its highest since May 8, while still the second consecutive weekly gain against the US dollar amid The economic data is weak on the Australian economy and on the eve of economic developments and data expected Friday by the US economy.

At 0315 GMT, the AUDUSD dropped 0.03% to 0.7007, compared to the opening levels at 0.7009, after reaching a low of 0.6998 during the session, while its highest in three weeks at 0.7010 .

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.

Technical Analysis

AUDUSD is showing further bullishness above the 0.7000 barrier now, supporting the suggested positive scenario in our recent reports targeting 0.7044 as the next major station.

We note that a breach of this level will extend the pair's gains to 0.7100, while the expected upside will remain unless the level of 0.6965 is broken and stability below it.

The trading range for today is expected among the support at 0.6970 and the resistance at 0.7060.

The general trend for today is bullish.

AUDUSD

The pair is supported by the news of a truce in the US-China trade war, which somewhat reduces the overall market tension without, however, eliminating it completely. It can be assumed that the pair will continue to grow against the backdrop of these news, as well as due to today’s release of the PCE price index in the US and the personal income and expense data. If they don’t indicate growth, a more aggressive reduction of interest rates by the Fed will be expected, which will cause pressure on the USD rate.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought territory and is moving horizontally. Stoch are also there and aren’t informative.

Trading recommendations:

If the pair remains above 0.7000, it will continue moving up to 0.7070.

USDJPY

The pair is supported amid the decreasing tension surrounding the possible armed conflict between the US and Iran. If this sentiment remains, the pair will keep receiving local support.

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and keeps growing. Stoch are in the overbought territory and aren’t informative.

Trading recommendations:

If the pair remains above 108.00, it may continue further up to 108.75.

Gold futures fell during the Asian session to rebound for the second consecutive session from its highest since May 14, 2013 as the US dollar index rebounded from its lowest level since March 20, according to the inverse relationship between them on the eve of developments and data Economic outlook on Wednesday by the US economy, the world's largest economy.

Gold futures for August delivery fell 1.26% to currently trade at $ 1,409.50 per ounce compared to the opening at $ 1,427.20 an ounce. The contracts opened today's trading session with a bullish price gap after it closed. Yesterday's trading at $ 1,418.70 an ounce, as the US dollar index rose 0.11% to 96.28 levels, showing a three-month low from the opening at 96.18.

Investors are currently waiting for the US economy to release the Durable Goods Orders, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect stability at zero levels versus a 2.1% drop in April, While the core reading of the index itself may show a 0.1% growth versus stability at zero levels in April.

This comes in conjunction with the release of the trade balance of goods which may show the deficit shrinking to $ 71.8 billion against $ 72.1 billion in April, and the initial reading of the Wholesale Inventories Index, which may indicate a slowdown in growth to 0.6% from 0.8% This comes hours after Federal Reserve Governor Jerome Powell spoke in New York, limiting opportunities for interest rate cuts by the next meeting.

In his speech on economic and monetary policy at the Council on Foreign Relations, Powell said that many members of the Federal Open Market Committee are expecting expansionary measures, adding that the strength of the economic fundamentals supports the continued pace of growth and employment, And the economy continues to grow, while inflation is at the Fed's target.

Powell also noted that the Federal Commission expects inflationary growth to grow despite inflation stabilizing below 2 per cent. He pointed out that the business and agriculture sectors were concerned by the escalation of trade tensions. He added that the Committee's expectations remained positive despite the increasing uncertainty, While confirming that the Fed is closely monitoring developments in the domestic situation with its full readiness to act appropriately.

Technical Analysis

Gold is trading strongly today to break the 1420.00 level and settle below it, opening the way for a bearish correction from 1275.00 to 1438.90 and approaching the 23.6% Fibonacci level at 1400.20.

Therefore, we expect the downside movement to continue in the coming sessions, and breaking the above mentioned level will extend the bearish wave to reach 136.6.30 as a next stop, while the expected decline will remain unless it is able to break above 1411.00 - 1420.00 levels and stability above it.

The trading range for today is among the support at 1380.00 and resistance at 1420.00.

The general trend for today is bearish.

The single currency of the European Union region fluctuated in a narrowly bearish range during the Asian session to see its rebound for the second straight session since March 21 against the US dollar on the eve of developments and economic data expected Wednesday by the largest euro area economies Germany The US economy is the world's largest economy earlier this week.

The pair rose 0.11% to 1.1355 compared to the opening at 1.1366, after reaching its lowest level at 1.1353, while reaching a high of 1.1372.

The markets for the German economy are looking for a statistical reading of the consumer confidence index, which may reflect the contraction of the widening to 10.0 versus 10.1 in June. Otherwise, we followed yesterday the Italian Deputy Prime Minister Matteo Salveni expressed his government's unwillingness to make any commitments About the government deficit for the budget for 2020, until the deficit becomes clear this year and there is an agreement with the European Union.

On the other hand, investors are currently looking for the US economy to detect the Durable Goods Orders, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect stability at zero levels versus 2.1% While the core reading of the index itself may show 0.1% growth versus zero in April.

This comes in conjunction with the release of the trade balance of goods which may show the deficit shrinking to $ 71.8 billion against $ 72.1 billion in April, and the initial reading of the Wholesale Inventories Index, which may indicate a slowdown in growth to 0.6% from 0.8% This comes hours after Federal Reserve Governor Jerome Powell spoke in New York, limiting opportunities for interest rate cuts by the next meeting.

In his speech on economic and monetary policy at the Council on Foreign Relations, Powell said that many members of the Federal Open Market Committee are expecting expansionary measures, adding that the strength of the economic fundamentals supports the continued pace of growth and employment, And the economy continues to grow, while inflation is at the Fed's target.

Powell also noted that the Federal Commission expects inflationary growth to grow despite inflation stabilizing below 2 per cent. He pointed out that the business and agriculture sectors were concerned by the escalation of trade tensions. He added that the Committee's expectations remained positive despite the increasing uncertainty, While confirming that the Fed is closely monitoring developments in the domestic situation with its full readiness to act appropriately.

Technical Analysis

EURUSD pair is showing a downside bias after approaching our target of 1.1443 yesterday, to move around 1.1355 now, as the price is affected by stochastic negativity, keeping in mind that the continuation of the bearish bias and break of 1.1320 will press the pair to further decline and test 1.1265 levels. 1.1180 before any new attempt to rise.

So far, the positive scenario will remain effective for today, provided stability remains above 1.1320, with a reminder that a break of 1.1443 will extend the upside wave to 1.1565 as a next stop.

The trading range for today is expected among the 1.1280 support and the 1.1443 resistance.

The general trend for today is bullish.

The Australian dollar rose during the Asian session to see its rebound for the seventh consecutive session of its lowest since January 3 against the US dollar on the eve of developments and economic data expected Wednesday by the largest economies of the euro area Germany and the US economy the world's largest economy at the beginning of this the week.

At 0212 GMT, the AUDUSD rose 0.20% to 0.6973, compared to the opening levels at 0.6953, the pair's lowest during the session, while the pair's highest since June 12 at 0.6980.

Investors are currently waiting for the US economy to release the Durable Goods Orders, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect stability at zero levels versus a 2.1% drop in April, While the core reading of the index itself may show a 0.1% growth versus stability at zero levels in April.

This comes in conjunction with the release of the trade balance of goods which may show the deficit shrinking to $ 71.8 billion against $ 72.1 billion in April, and the initial reading of the Wholesale Inventories Index, which may indicate a slowdown in growth to 0.6% from 0.8% This comes hours after Federal Reserve Governor Jerome Powell spoke in New York, limiting opportunities for interest rate cuts by the next meeting.

In his speech on economic and monetary policy at the Council on Foreign Relations, Powell said that many members of the Federal Open Market Committee are expecting expansionary measures, adding that the strength of the economic fundamentals supports the continued pace of growth and employment, And the economy continues to grow, while inflation is at the Fed's target.

Powell also noted that the Federal Commission expects inflationary growth to grow despite inflation stabilizing below 2 per cent. He pointed out that the business and agriculture sectors were concerned by the escalation of trade tensions. He added that the Committee's expectations remained positive despite the increasing uncertainty, While confirming that the Fed is closely monitoring developments in the domestic situation with its full readiness to act appropriately.

Technical Analysis

AUDUSD continues to fluctuate around SMA 50, and we are still waiting to confirm a breach of this level to open the way to test the 0.7044 level which represents our next positive target.

In general, the bullish scenario will remain effective over intraday basis unless 0.6865 is broken and stability below it.

The trading range for today is expected among the support at 0.6920 and the resistance at 0.7020.

The general trend for today is bullish.

Aeroflot shares rose at the end of last week where the price exceeded 99.94 where there are resistance levels and the price managed to overcome them and heading to the next resistance 1.3.05.

The price is moving above the moving averages, especially the moving average 50 which constitutes support for the price.

The price above 99.94 supports the continuation of the bullish move.

Stochastic is in an ascending path approaching the overbought area.

General trend of the movement: upward.

The US dollar rose during the US session to see its rebound for the second session of its lowest since January 3 against the Japanese yen amid a lack of economic data by the Japanese economy, the third largest economy in the world and on the eve of developments and economic data expected Wednesday by the US economy larger World economy.

At 05:59 GMT, the pair rose 0.23% to levels of 107.45 compared to the opening levels at 107.20 after reaching the highest level of trading at 107.50, while the lowest level at 107.10.

Investors are currently waiting for the US economy to release the Durable Goods Orders, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect stability at zero levels versus a 2.1% drop in April, While the core reading of the index itself may show a 0.1% growth versus stability at zero levels in April.

This comes in conjunction with the release of the trade balance of goods which may show the deficit shrinking to $ 71.8 billion against $ 72.1 billion in April, and the initial reading of the Wholesale Inventories Index, which may indicate a slowdown in growth to 0.6% from 0.8% This comes hours after Federal Reserve Governor Jerome Powell spoke in New York, limiting opportunities for interest rate cuts by the next meeting.

In his speech on economic and monetary policy at the Council on Foreign Relations, Powell said that many members of the Federal Open Market Committee are expecting expansionary measures, adding that the strength of the economic fundamentals supports the continued pace of growth and employment, And the economy continues to grow, while inflation is at the Fed's target.

Powell also noted that the Federal Commission expects inflationary growth to grow despite inflation stabilizing below 2 per cent. He pointed out that the business and agriculture sectors were concerned by the escalation of trade tensions. He added that the Committee's expectations remained positive despite the increasing uncertainty, While confirming that the Fed is closely monitoring developments in the domestic situation with its full readiness to act appropriately.

Technical Analysis

USDJPY succeeded in achieving our awaited target at 106.75 but rebounded appreciably from there, nearing the pivotal resistance of 107.80, accompanied by stochastic loss of positive momentum and reaching oversold areas, while SMA 50 meets the mentioned resistance to add more From force to it.

Therefore, we believe that opportunities are available to resume the main bearish trend, which is organized within the descending channel shown in the image, while recalling that our next target reaches 106.00, while achieving stability requires below 107.80.

The trading range for today is expected among the key support at 106.60 and the resistance at 108.00.

The general trend for today is bearish.

EURUSD

The pair is consolidating above 1.1340 in anticipation of the data on the United States core durable goods orders and their volumes. If it’s higher than predicted, it would cause pressure for the pair. At the same time, lower figures would push the rate upwards.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages suggest selling. RSI is above the level of 50% and is slowly falling. Stoch aren’t informative.

Trading recommendations:

If the price drops below 1.1340, it may go further down to 1.1280. At the same time, if it takes hold above 1.1340, it could lead to a local growth amid the weak US economy data.