Analytic reviews

The Australian dollar rose during the Asian session to see its fifth straight session retreat since January 3 against the US dollar after Reserve Bank of Australia governor Philip Louis in Canberra on Monday and amid a lack of economic data earlier this week by the US economy The world's largest economy.

At 0212 GMT, the AUDUSD rose 0.33% to 0.6949, compared to the opening levels at 0.6926, the pair's lowest level during the session, while the pair's highest since June 12 at 0.6954.

We have followed the participation of Governor of the Central Bank of Australia Philippe Lowy in a panel discussion at the Australian National University Leadership Forum, in which he said that if everyone is working to facilitate monetary policy, the impact on exchange rates is futile and it is legitimate to ask how the facilitation Monetary policy is effective globally, noting that it is not yet clear whether additional monetary easing will affect the Australian economy.

In the same vein, Lowy pointed out that governments should look at fiscal spending and infrastructure to stimulate economic growth and inflation, less than a week after the central bank unveiled its minutes of its last meeting on April 4, Cash cut interest rates 25 basis points for the first time in nearly three years to 1.25% from 1.50%.

Technical Analysis

AUDUSD is showing a more bullish bullish trend approaching the 0.6970 level, where SMA 50 now faces, and the price needs to breach this level to confirm the extension of the upside wave towards 0.7044.

Overall, the bullish bias will remain bullish for the coming period provided stability remains above 0.6865.

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 bullish.

EURUSD

The pair is still in a local uptrend as the Fed is expected to start reducing interest rates as early as July. The pair is likely to resume growth after a small correction.

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

Trading recommendations:

The pair may correct down to 1.1340 due to being locally technically overbought, but afterwards it’s likely to resume growth to 1.1450.

Gold futures rallied during the Asian session, their highest since September 3, 2013, as the dollar index fell to its lowest level since June 7, when it tested its lowest since March 26 on the back of developments And economic data expected Friday by the US economy the largest economy in the world and following the pricing of investors to the strikes in the Middle East and pricing markets for opportunities to adopt the major global central banks for further stimulation later.

Gold futures for August delivery rose 1.22% to currently trade at $ 1,408.20 per ounce compared to the opening at $ 1,391.20 an ounce. The contracts closed yesterday at $ 1,396.90 an ounce before trading Today, on a narrowing price gap, followed by a six-year high of $ 1,415.40 per ounce, with the US dollar index falling 0.07% to 96.55, the lowest level in two weeks compared to the opening at 96.61.

Investors are currently waiting for the US economy to disclose the preliminary reading of the Industrial Purchasing and Service Index Markit for the United States, the world's largest industrial nation, amid expectations for the stability of the expansion of the industrial sector at 50.5 unchanged from the previous reading earlier this month, compared to 50.6 in May, And the service sector expanded to 51.0 compared to the initial reading of 50.9 versus 53.0 in May.

This comes ahead of the release of housing market data with the Existing Home Sales Index reading, which could reflect a 1.2% rise to 5.29 million homes versus a 0.4% drop at 5.19 million homes last April, Fed Governor Lyle Prinard at the opening of the monetary policy summit of the Federal Reserve Bank of Cleveland in Cincinnati.

The Fed's monetary policy makers agreed last Wednesday to stay benchmark rates between 2.25% and 2.50% for the fourth consecutive meeting at the Federal Open Market Committee meeting on June 18-19 in Washington, During which the Federal Commission's expectations of growth rates, inflation and unemployment as well as future interest rates for the next three years.

On Wednesday, the Federal Reserve dropped the word "patient" from its statement and added, "We will act as necessary" to maintain the economy, which reflects the opening for a possible reduction in federal interest rates later. Eight members see a reduction this year, knowing that the average forecast did not reflect any reduction this year, but next year 2020.

Federal Reserve Governor Jerome Powell said at a press conference after the meeting in Washington on Wednesday that some monetary policy makers in the Fed believe that the issue of soft monetary policy has been strengthened, stressing that the Committee will continue to monitor developments and economic data closely during the coming period To determine the future of monetary policy depending on those developments and data.

Otherwise, we have followed Tuesday the European Central Bank Governor Mario Draghi said at the European Central Bank's forum on central banks in Sintra, Portugal, that the ECB does not target specific levels of the euro exchange rate, noting that the continued ambiguity strengthens risks and the absence of improvement requires action, Pointing out that the inflationary pressures are still weak and they are moving at a slow pace amidst the pace of growth.

European Central Bank Governor Draghi also noted at the forum that the EC will take more monetary stimulus steps unless growth and inflationary pressures in the euro zone improve, following the fact that interest rate cuts will continue to be one of the ECB's instruments. The ECB is ready to expand the stimulus.

On the other hand, we have continued on Thursday to drop Iran for a US drone plane claiming to have entered its airspace, in contrast, US President Donald Trump when asked by reporters about the reaction to that order, "will see", after describing the order As a serious mistake and testified that the aircraft was within the territorial waters of international and did not enter Iranian airspace as Iran claims, as he put it.

Technical Analysis

Gold is opening higher today with a strong rally above the $ 1400.00 level and is trying to maintain stability above it, which supports our bullish outlook for the next few sessions as our next target is at 1433.60.

Therefore, we await further upside today supported by SMA 50, noting that the break of 1380.00 will stop the current rally and press the price to start a bearish correction over the intraday basis.

The trading range for today is among the support at 1390.00 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 to see its fourth session retreat since June 3 against the US dollar on the eve of economic developments and data expected on Friday by the Eurozone economies and the US economy. In the world.

At 05:07 GMT, the EURUSD rose 0.04% to 1.1297, compared with the opening at 1.1293, after reaching a high of 1.1309, while reaching a low of 1.1289.

The markets are currently looking for both the French and German economies and the economies of the region as a whole. The initial reading of the Markit Index for Industrial and Service Purchasing Managers for the current month, which may reflect the expansion of the service and industrial sector in France, the contraction of the service sector and contraction of the industrial sector in Germany, SOI shrinking industrial contraction in the economies of the region as a whole.

Other than that, we have followed Wednesday, President of the Commission, John Claude Juncker at the ECB forum on central banks in Sintra, that the attack on the independence of the European Central is not fair at all, hours after the European Central Bank Governor at the same conference Tuesday The past that the ECB does not target specific levels of the euro exchange rate.

He added that inflationary pressures are still weak and that they are moving at a slow pace, adding that the ECB will take more monetary stimulus steps unless growth and inflation in the euro area improve, In the wake of his discussion that the rate cut will remain one of the tools put forward and confirmed the willingness of the European Central Bank to expand the stimulus.

"President Mario Draghi has just announced that further stimulus may come, which has led to the euro immediately falling against the dollar, making it unfairly easy for them to compete," President Donald Trump said Tuesday. Against the United States of America, they have been running away from this for years, along with China and others. "

Otherwise, investors are currently looking for the US economy to reveal the preliminary reading of the PMI industrial and service index market for the United States, the largest industrial world, amid expectations for the stability of the expansion of the industrial sector at 50.5 unchanged from the previous reading earlier this month, compared to 50.6 in May In May, and the service sector expanded to 51.0 compared to the initial reading at 50.9 versus 53.0 in May.

This comes ahead of the release of housing market data with the Existing Home Sales Index reading, which could reflect a 1.2% rise to 5.29 million homes versus a 0.4% drop at 5.19 million homes last April, Fed Governor Lyle Prinard at the opening of the monetary policy summit of the Federal Reserve Bank of Cloveland in Cincinnati.

The Fed's monetary policy makers agreed last Wednesday to stay benchmark rates between 2.25% and 2.50% for the fourth consecutive meeting at the Federal Open Market Committee meeting on June 18-19 in Washington, During which the Federal Commission's expectations of growth rates, inflation and unemployment as well as future interest rates for the next three years.

On Wednesday, the Federal Reserve dropped the word "patient" from its statement and added, "We will act as necessary" to maintain the economy, which reflects the opening for a possible reduction in federal interest rates later. Eight members see a reduction this year, knowing that the average forecast did not reflect any reduction this year, but next year 2020.

Federal Reserve Governor Jerome Powell said at a press conference after the meeting in Washington on Wednesday that some monetary policy makers in the Fed believe that the issue of soft monetary policy has been strengthened, stressing that the Committee will continue to monitor developments and economic data closely during the coming period To determine the future of monetary policy depending on those developments and data.

Technical Analysis

EURUSD fluctuates around 1.1300, and after confirming the breach of 1.1265, the road is open for further upside in the coming sessions, supported by the positive sign from Stochastic, pending a visit to 1.1443 mainly.

SMA 50 supports the suggested bullish wave, which requires stability to remain above 1.1265 and above 1.1180.

The trading range for today is expected among the 1.1250 support and 1.1400 resistance.

The general trend for today is bullish.

The Australian dollar fluctuated in a narrowly bullish range during the Asian session to see its fourth session retreat from its lowest level since January 3 against the US dollar following developments and economic data that followed on the Australian economy and on the eve of economic developments and data expected on Friday from Ahead of the US economy, the world's largest economy.

At 03:04 GMT, the AUDUSD rose 0.13% to 0.6932, compared to the opening levels of 0.6923, after hitting its highest since June 13 at 0.6938, while its lowest The trading session is at 0.6197.

We have followed the Australian economy to reveal the preliminary reading of the Industrial Purchasing Managers Index, which expanded to 51.7 compared to 51.0 last May. The preliminary reading of the Purchasing Managers' Index showed a widening of 53.3 versus 51.5 in May. This comes hours after Reserve Bank of Australia Governor Philip Lo said interest rate expectations were again unrealistic.

In the same vein, Governor of the Central Bank of Australia said that the decision to cut short-term benchmark interest rates is still on the table, with the exclusion of that. He also praised the strength of the labor market and the expanded number of jobs that have been added to the Australian economy in recent years. The implications of trade protectionism and the trade war between the United States and China, Australia's largest trading partner.

On the other hand, investors are currently waiting for the US economy to disclose the preliminary reading of the PMI industrial and service index market for the United States, the largest industrial world, amid expectations for the stability of the expansion of the industrial sector at 50.5, unchanged from the previous reading of the previous month, compared to 50.6 In May, and the service sector expanded to 51.0 compared with the initial reading of 50.9 versus 53.0 in May.

To the release of housing market data with the Existing Home Sales Index reading, which may reflect a 1.2% rise to 5.29 million homes versus a 0.4% drop at 5.19 million homes last April, before we see a member of the Federal Open Market Committee Fed Governor Lyle Prinard at the opening of the monetary policy summit of the Federal Reserve Bank of Cloveland in Cincinnati.

Technical Analysis

AUDUSD continues to be positive to gradually approach our first target at 0.6970, awaiting further upside to test 0.7044, which is our main positive target.

Therefore, we continue to extend the bullishness over the intraday basis unless the level of 0.6865 is broken and stability below it.

The trading range for today is among the key support at 0.6880 and resistance at 0.6970.

The general trend for today is bullish.

Amazon shares rose after support steadied 1679.23 and reached resistance 1890.43 and managed to overcome them.

The price is moving above the moving averages 7-7 and 50 which are forming support levels for the price and the price is pressed to rise and test the resistance again.

The stochastic is moving within the overbought area in a sideways movement, so it is possible to see some correction in the price action if the price comes out of this area.

The expected movement between 1679.23 support and 2050.79 resistance.

General direction of the movement: upward.

The US dollar fell for the fourth session in a row, the lowest since January 3, and is expected to worse than its weekly performance since March against the Japanese yen following developments and economic data that followed the Japanese economy and on the eve of developments and economic data expected Friday By the US economy, the world's largest economy.

At 05:51 GMT, the USDJPY declined 0.15% to 107.14 from the opening levels at 107.30 after the pair hit a 5-month low of 107.05, while the highest in the session at 107.37.

We followed the release of Markit Industrial PMI's preliminary reading of Japan, the world's third-largest industrial country, which showed a contraction of 49.5 versus 49.8 in May, above expectations of a 50.0 expansion, A reading below 50 indicates a contraction of the sector, while reading at 50 or higher reflects a widening of the sector.

In addition, Thursday we followed the Bank of Japan's decision to keep interest rates at 0.10%, which was expected in the markets, coinciding with the disclosure of the monetary policy statement, during which the Japanese central bank raised the concern about external risks that threaten to impede the fragile economic recovery , Amid the reference to weak exports, which is the nerve of the third largest economy in the world in addition to the decline of the industrial sector recently.

On the other hand, investors are currently waiting for the US economy to disclose the preliminary reading of the PMI industrial and service index market for the United States, the largest industrial world, amid expectations for the stability of the expansion of the industrial sector at 50.5, unchanged from the previous reading of the previous month, compared to 50.6 In May, and the service sector expanded to 51.0 compared with the initial reading of 50.9 versus 53.0 in May.

This comes ahead of the release of housing market data with the Existing Home Sales Index reading, which could reflect a 1.2% rise to 5.29 million homes versus a 0.4% drop at 5.19 million homes last April, Fed Governor Lyle Prinard at the opening of the monetary policy summit of the Federal Reserve Bank of Cloveland in Cincinnati.

The Fed's monetary policy makers agreed last Wednesday to stay benchmark rates between 2.25% and 2.50% for the fourth consecutive meeting at the Federal Open Market Committee meeting on June 18-19 in Washington, During which the Federal Commission's expectations of growth rates, inflation and unemployment as well as future interest rates for the next three years.

On Wednesday, the Federal Reserve dropped the word "patient" from its statement and added, "We will act as necessary" to maintain the economy, which reflects the opening for a possible reduction in federal interest rates later. Eight members see a reduction this year, knowing that the average forecast did not reflect any reduction this year, but next year 2020.

Federal Reserve Governor Jerome Powell said at a press conference after the meeting in Washington on Wednesday that some monetary policy makers in the Fed believe that the issue of soft monetary policy has been strengthened, stressing that the Committee will continue to monitor developments and economic data closely during the coming period To determine the future of monetary policy depending on those developments and data.

Technical Analysis

USDJPY continues to decline strongly near the extended target at 106.75, and the price is moving within the descending channel appearing in the image, which supports the chances of a downside wave extending to the 106.00 areas in the coming period.

Therefore, we expect the bearish trend to continue to be supported by the negative pressure formed by SMA 50, provided that the price remains stable below 107.80.

The trading range for today is expected among the support at 106.30 and the resistance at 107.80.

The general trend for today is bearish.

EURUSD

The pair is correcting downwards following the last two days’ strong growth triggered by expected interest rates reduction in the US. The pair is likely to resume growth after a short-term decline.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is slowly moving down. Stoch are also falling.

Trading recommendations:

Buy the pair as it’s declining with a possible target of 1.1345.

Gold futures rallied during the Asian session, their highest since September 5, 2013, as the US dollar index fell to its lowest level since June 12, according to the inverse relationship between them and the Bank of Japan meeting in Tokyo amid expectations of the Central Bank's approval. Japanese economy to further stimulus and on the eve of developments and economic data expected Thursday by the US economy, the largest economy in the world after the expiry of the meeting of the Federal Open Market Committee in Washington.

Gold futures for August delivery rose 1.44% to currently trade at $ 1,384.10 per ounce compared to the opening at $ 1.364.50 per ounce. The contracts closed yesterday's trading at $ 1.348.80 an ounce before trading Today saw a bullish price gap of around $ 1,397.70 an ounce, with the US dollar falling 0.30% to 96.89, its lowest level in a week compared to the opening at 97.18.

Investors are now looking closely at the outcome of the BOJ meeting, hours after the FOMC meeting on 18-19 June, at which interest rates were kept between 2.25% and 2.50%, and revealing the Commission's expectations Federalism over growth rates, inflation and unemployment as well as future interest rates for the next three years.

"We will act as necessary" to maintain the economy, which reflects the possibility of a possible cut in federal interest rates later on. In particular, the Federal Reserve's interest rate projections showed that eight Members see a reduction this year, knowing that the average forecast did not reflect any reduction this year, but next year 2020.

Fed Governor Jerome Powell said at a news conference after the meeting in Washington that some monetary policy makers in the Fed believe that the issue of soft monetary policy has been strengthened, stressing that the Committee will continue to monitor developments and economic data closely during the coming period to determine the future Monetary policy depending on those developments and data.

Otherwise, we have followed earlier this week European Central Bank Governor Mario Draghi at the ECB forum on central banks in Sintra, Portugal, that the ECB does not target specific levels of the euro exchange rate, noting that the continued ambiguity strengthens risks and the absence The improvement requires action, pointing out that inflationary pressures are still weak and they are moving at a slow pace amidst the pace of growth.

European Central Bank President Draghi also noted at the forum last Tuesday that the ECB will take more monetary stimulus steps unless growth and inflationary pressures in the euro zone improve, following the fact that interest rate cuts will remain one of the tools at the ECB's insistence that monetary policy makers The ECB is ready to expand the stimulus.

Draghi's remarks, reflecting a general trend at global central banks to adopt stimulus to support growth and inflation rates that remain fragile, coincided with growing risk over the UK's exit from the EU and global trade tensions due to recent trade protectionism by the US administration, Minutes of the Reserve Bank of Australia meeting on the possibility of another rate cut later.

Investors are currently looking for the US economy to release a current account reading, which could reflect a contraction of the deficit to $ 125 billion versus $ 134 billion in the fourth quarter, in conjunction with the reading of the index of claims for the week ending on 15 of this month which may reflect a decline By 2 thousand requests to 220 thousand applications compared to 222 thousand applications in the previous weekly reading.

On the 8th of this month, the index of continuing jobless claims may show a decline of 15K to 1,680K versus 1,695K, as the Philadelphia Manufacturing Index may show a contraction of 10.6 vs. 16.6. May, and before we see the leading indices reading, which may show a contraction of the widening to 0.1% vs. 0.2% in April.

Technical Analysis

Gold is trading strongly today after confirming the breach of 1346.70 yesterday to surpass our second target at 1365.25 and approaching the $ 1400.00 barrier, so that the bullish trend remains likely over the short term and intraday basis within the ascending channel appearing in the image.

Therefore, we are waiting for further upside during the day supported by SMA 50, with the next target reaching 1433.60, taking into consideration that stability above 1346.70 is important for the continuation of the suggested bullishness.

The trading range for today is among the key support at 1365.00 and resistance at 1400.00.

The general trend for today is bullish.

The single currency of the European Union region rose during the Asian session to see its third session retreat since June 3 against the US dollar on the eve of developments and economic data expected Thursday by the Eurozone economies and the US economy, the largest economy in the world, Federal Open Market in Washington.

At 5:11 am GMT, the EURUSD rose 0.35% to 1.1265, compared to the opening at 1.1226 which was the pair's lowest during the session, while reaching a high of 1.1273.

The markets now look to the European Central Bank's release of the ECB's monthly report, before we see the euro-zone economy as a whole reading consumer confidence readings that may reflect a deflationary stability of just 7 unchanged from last May Otherwise, we have followed yesterday the statements of Commission President Jean-Claude Juncker that attacking the independence of the European Central is absolutely unfair.

The comments were made by ECB President Juncker at the European Central Bank's forum on central banks in Sintra, hours after the European Central Bank governor said at the same conference last Tuesday that the ECB is not targeting specific levels of the euro exchange rate, And that the absence of improvement requires movement, adding that inflationary pressures are still weak and they are moving at a slow pace.

European Central Bank Governor Draghi noted at the forum in Portugal that the EC will take more monetary stimulus steps unless growth and inflationary pressures in the euro zone improve, following the fact that interest rate cuts will continue to be one of the ECB's instruments. The ECB is ready to expand the stimulus.

Otherwise, investors are currently looking for the US economy to launch a current account reading, which could reflect a contraction of the deficit to $ 125 billion versus $ 134 billion in the fourth quarter, coinciding with the release of the Philadelphia Manufacturing Index by the world's largest industrial country which may reflect The spread narrowed to 10.6 versus 16.6 last May.

This comes in conjunction with the reading of the index of claims for the week ending on the 15th of this month, which may reflect a decrease by two thousand requests to 220 thousand requests compared to 222 thousand requests in the previous weekly reading, as may be clear reading the index of continuing claims for the week of the eighth in the eighth Of the month fell by 15 thousand applications to 1,680 thousand applications compared to 1,695 thousand applications.

Leading to the release of leading indicators that may show a contraction of 0.1% vs. 0.2% last April, hours after the FOMC meeting of 18-19 June ended. Interest rates between 2.25% and 2.50% and disclosure of the Federal Commission's expectations of growth rates, inflation and unemployment as well as future interest rates for the next three years.

Technical Analysis

EURUSD has managed to touch our first target at 1.1265 and is breaching it to try to hold onto it now, which supports the continuation of the bullish scenario effectively during the coming sessions, paving the way for our next target at 1.1443.

Therefore, the bullishness will likely remain supported by the positive signal that is clearly shown by Stochastic, noting that stability above 1.1180 is an important condition for the continuation of the suggested bullishness.

The trading range for today is among the key support at 1.1180 and resistance at 1.1360.

The general trend for today is bullish.