Analytic reviews

USDCAD

The pair breached the previous minimum level of 1.3245 amid the global weakness of the USD following the Fed meeting. It has the potential for further drop, which is supported by the growth attempts of oil prices.

The price is below the lower Bollinger band, below SMA 5 and SMA 14. RSI has entered the oversold territory. Stoch are already there and aren’t informative.

Trading recommendations:

Wait for the pair to resume falling to 1.3100 after taking hold below 1.3245.

The US dollar fell during the Asian session to see its lowest since January 4 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, the largest economy in the world and following industrial decisions and trends Monetary policy of the Fed and the Bank of Japan.

At 06:02 GMT, the USDJPY dropped 0.43% to 107.63 from the opening levels at 108.10 after the pair reached a five-month low of 107.55, while it reached its highest level in the session at 108.14.

We followed the BOJ's decision to hold negative interest rates at 0.10%, which was expected in the markets, coinciding with the release of the monetary policy statement in which BOJ monetary policy makers expressed growing concern over external risks that threaten to hinder economic recovery. Amid signs of weak exports, the third largest economy in the world, in addition to the recent decline in the industrial sector.

This came ahead of a press conference held by Governor of the Bank of Japan Haruhiko Kuroda, in which he stressed the need to proceed with an expansionary monetary policy in light of the high uncertainty about the global economic outlook, and before witnessing by the third largest industrial world to disclose the overall index Industrial activity, which showed a 0.9% gain versus a 0.3% drop in March, was above expectations of a 0.2% rise.

On the other hand, investors are currently waiting for the US economy to release the current account, which may reflect a contraction of the deficit to $ 125 billion compared to $ 134 billion in the fourth quarter, coinciding with the disclosure of the Philadelphia Industrial Index by the largest industrial country in the world May reflect the contraction of the widening 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

USDJPY pair dropped sharply yesterday to break the 108.00 level and starts today with another strong decline to confirm the breach and move around 107.60, which supports our continued bearish outlook for the intraday and short term, and is open to targeting the previously recorded low at 106.75 as the next major station.

SMA 50 continues to support the suggested bearish wave, which requires stability to remain below 106.00.

The trading range for today is expected among the support at 106.80 and the resistance at 108.00.

The general trend for today is bearish.

The Australian dollar rose during the Asian session to see its rebound to its third straight session since June 3 against the US dollar after the Reserve Bank of Australia's central bank speech and the monthly release of the central bank on the eve of developments and economic data on Thursday from the US economy, the world's largest economy Which includes the meeting of the Federal Open Market Committee in Washington.

At 0200 GMT, the AUDUSD rose 0.25% to 0.6909, compared to the opening levels of 0.6876, after recording a low of 0.6875, while recording a high of 0.6910.

Investors are currently looking for the US economy to release the 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, From 10.6 to 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

AUDUSD closed the daily candlestick above 0.6875, pushing the price higher for more intraday gains, supported by the positive sign from Stochastic now, and we expect to test the 0.6970 initially, noting that exceeding this level will push the price to visit 0.7044 As a next station.

Therefore, the bullish trend will be likely for today unless the level of 0.6865 is broken and stability below it.

The trading range for today is among the key support at 0.6865 and resistance at 0.6950.

The general trend for today is bullish.

Gold futures traded in a tight range slipping into the Asian session to see their rebound to a third session in four sessions since April 11, 2018 amid a positive stability of the US dollar index according to their inverse relationship after the United States and China resumed talks To discuss trade relations and to look forward to the outcome of the Federal Committee meeting and Federal Reserve Governor Jerome Powell's press conference later Wednesday.

Gold futures for August delivery fell 0.07% to currently trade at $ 1.347.80 per ounce from the opening at $ 1,350.40 an ounce, with the US dollar index rising 0.01% to 97.65 compared to the opening at 97.64.

"We will have a very good telephone conversation with the Chinese president. We will have a meeting next week in the G-20 in Japan," he said. "Our teams will start talks before our meeting," he said. Which boosted investors' hopes to resolve trade disputes between the world's two biggest economies and contain the trade war between them.

In another context, we also followed yesterday the ECB Governor Mario Draghi expressed the fact that the central bank's monetary policy industry is ready to adopt further stimulus if necessary, thus enhancing the chances for the ECB to expand monetary policy by next July's meeting In the shadow of inflationary pressures in the euro area, to stimulate the cycle of risk appetite in the markets.

"Another sign of American President Trump said," Mario Draghi just announced that more stimulus has come, which has led to the euro's immediate fall against the dollar, making it unfairly easy for them to compete against the United States, From this for years, along with China and others. "This coincided with the June 18-19 meeting of the Federal Open Market Committee in Washington.

Investors are eyeing the FOMC meeting, where interest rates are expected to remain between 2.25% and 2.50%, as markets look to reveal their expectations for growth, inflation and unemployment as well as the future interest rates for the three years Ahead of Fed Chairman Jerome Powell's upcoming press conference later in the day.

US Federal Reserve Governor Paul Powell has already said that the Federal Reserve does not know how and when trade tensions will be resolved, noting that the Federal Reserve is taking seriously inflationary pressures for an extended period that may affect inflation expectations later, The Federal Reserve is abandoning its policy of patience and cutting interest rates on federal funds in the coming period.

Technical Analysis

Gold showed positive trading yesterday and tried to breach the 1346.70 level but has not been able to hold above it until now. Stochastic is gaining positive momentum, awaiting the resumption of positive attempts and confirmation of the breach towards 1365.25 which represents our next target.

In general, we will continue to push the bullish trend in the coming sessions supported by SMA 50 unless the 1326.00 level is breached and stability below it.

The trading range for today is among the support at 1335.00 and resistance at 1360.00.

The general trend for today is bullish.

The single currency of the European Union region fluctuated in a narrowly bearish range during the Asian session to see its sixth session rebound in nine sessions from its highest since March 22 against the US dollar on the eve of developments and economic data expected Wednesday by Eurozone economies and the economy. The largest economy in the world, including the meeting of the Federal Open Market Committee in Washington.

At 05:05 GMT, the EURUSD dropped 0.04% to 1.1190, compared to the opening at 1.1194 after recording a low of 1.1187 and a high of 1.1202.

The markets are currently waiting for the euro zone's biggest economy to see the Producer Price Index (PPI), an initial index of inflationary pressures, which may reflect slowing growth to 0.2% versus 0.5% last April. Up from 2.5% in the previous April reading.

This comes ahead of the Eurozone economy as a whole showing the seasonally adjusted current account index, which could reflect a contraction of the surplus to € 23.2 billion from € 24.7 billion in March, in conjunction with the release of Italy's third-largest trade balance Which could also show that the surplus shrank to 4.55 billion euros from 4.63 billion euros in March.

European Central Bank Governor Mario Draghi delivered the concluding remarks at the ECB forum on central banks in Sintra. We would like to point out that, at the same conference yesterday, he said that the ECB is not targeting specific levels of the euro exchange rate. Lack of improvement requires action, explaining that inflationary pressures are still weak and are moving at a slow pace.

European Central Bank Governor Draghi also noted at the forum yesterday in Portugal that the EC will take more monetary stimulus steps unless growth and inflationary pressures in the eurozone improve, following the fact that interest rate cuts will continue to be one of the tools at the ECB. Monetary policy of the European Central Bank is ready to expand the stimulus.

On the other hand, US President Donald Trump expressed his admiration for him. "Mario Draghi just announced that more stimulus has come, which has led to the euro immediately falling against the dollar, making it unfairly easy for them to compete against the United States, They have been away for years, along with China and others. "This coincided with the June 18-19 meeting of the Federal Open Market Committee in Washington.

Investors are eyeing the FOMC meeting, where interest rates are expected to remain between 2.25% and 2.50%, as markets look to reveal their expectations for growth, inflation and unemployment as well as the future interest rates for the three years Ahead of Fed Chairman Jerome Powell's upcoming press conference later in the day.

US Federal Reserve Governor Paul Powell has already said that the Federal Reserve does not know how and when trade tensions will be resolved, noting that the Federal Reserve is taking seriously inflationary pressures for an extended period that may affect inflation expectations later, The Federal Reserve is abandoning its policy of patience and cutting interest rates on federal funds in the coming period.

Technical Analysis

EURUSD continues to fluctuate at critical support 1.1180 and remains above it so far, noting that Stochastic is showing a clear sell-off now, and is close to providing a positive cross signal on the daily time frame, supporting the chances of resuming the expected bullish trend for the coming period, which Its main targets start at 1.1265 and 1.1443.

Therefore, we will maintain our bullish outlook unless the 1.1180 level is broken and the daily closing below it.

The trading range for today is among the key support at 1.1130 and resistance at 1.1280.

The general trend for today is bullish.

Aeroflot shares rose at the end of last week's trading as the pair reached 99.94 levels where resistance levels have been breached.

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

The price above 95.78 is a prerequisite for continued bullishness.

Stochastic is in a descending path after it is out of the saturation area of the purchase.

General direction of movement: neutral.

The US dollar fluctuated in a narrow range slipping towards the Asian session to see its third session retreat since June 11 against the Japanese Yen following the economic developments and data that followed on the Japanese economy and on the eve of developments and economic data expected Wednesday by the US economy larger The world economy, which includes industrial decisions and trends monetary policy of the Federal Reserve.

At 06:08 GMT, the US dollar was down 0.14% at 108.30, compared to the opening levels at 108.45, after reaching the lowest level at 108.29, while the highest at 108.62.

We followed the Japanese economy, the world's third-largest economy, by reading the trade balance index, which showed a deficit of 60 billion yen against a surplus of 56.8 billion yen in April, exceeding expectations of a deficit of 1,200 billion yen, while the seasonally adjusted index showed the same index widening Deficit to 609 billion yen against 170 billion yen in April, also surpassing expectations that the deficit widened to 807 billion yen.

The annualized reading of exports showed a decline of 7.8% compared to 2.4% in the previous year's reading for April, below expectations of a wide decline to 8.4%, while the annual import reading showed a decline of 1.5% compared with 6.5% in the previous year's reading For the month of April, worse than expectations for a slowdown in growth to 1.0%.

This comes hours after Japanese central bank governor Haruhiko Kuroda yesterday expressed a high uncertainty about the global economic outlook, explaining that the global economic developments will be discussed at the Bank of Japan's review of short-term interest rates starting today and Thursday in Tokyo, adding that the Bank of Japan Will discuss the risk of trade tensions between the United States and China and Britain's exit from the EU separately.

On the other hand, investors are currently looking at the FOMC meeting in which interest rates are expected to be kept between 2.25% and 2.50% as markets look to the Commission to reveal their expectations for growth rates, inflation and unemployment, Interest rate for the next three years, leading to the forthcoming press conference of Federal Reserve Governor Jerome Powell later in the day.

We would like to point out that Fed Governor Powell has already noted that the Federal Reserve does not know how and when trade tensions will be resolved, noting that the Commission is taking seriously inflationary pressures for an extended period that may affect inflation expectations later, The Federal Reserve is abandoning its policy of patience and cutting interest rates on federal funds in the coming period.

Technical Analysis

USDJPY hit our first target at 108.00 yesterday, but it rebounded significantly to settle around SMA 50, and as long as the price is below 108.80, our bearish outlook remains valid for the coming period, noting that the first target will extend the bearish wave to reach 106.75 as a next station.

The trading range for today is expected among the key support at 107.60 and the resistance at 109.00.

The general trend for today is bearish.

Google shares rise after the decline to reach the resistance 1099.43 at the rate of decline Fibonacci 61.8%

Price action under the negative pressure effect of the moving averages, especially the moving average 50 which is close to the resistance of 1183.80 and the 20 humped average that moves above the price.

The stochastic is out of the overbought areas in a bearish signal so the price may correct.

General direction of the movement: a downward trend.

NEW YORK (Reuters) - Gold futures traded in a narrowly bullish range during the Asian session as the US dollar fell, showing a rebound to the second high session since June 3, according to the inverse relationship between them on the eve of economic developments and data expected Tuesday by the US economy's largest economy In the world, which includes the launch of the meeting of the Federal Open Market Committee in Washington.

Gold futures for August delivery fell 0.07% to currently trade at $ 1,344.90 per ounce from the opening at $ 1,343.90 an ounce, with the US dollar index dropping 0.08% to 97.45 compared to the opening at 97.53.

Investors are currently looking for the US economy to release housing data with the Housing Starts and Building Permits reading for May, where we expect to see about 1,290,000 building permits versus 0.6% at 1,296K in April, Initial construction may also show little stability at 1,235,000 homes, down from 5.7% in April.

This comes in line with the launch of the meeting of the Federal Open Market Committee in Washington, which is expected to keep the interest rates between 2.25% and 2.50% for the fourth meeting in a row, as markets look to reveal the Commission's expectations for growth rates, inflation and unemployment in addition to To the future of interest rates for the next three years, before the events of the press conference of Federal Reserve Governor Jerome Powell on Wednesday.

We would like to point out that the Federal Reserve Governor Powell recently expressed the Federal Reserve's uncertainty about how and when the trade tensions will be resolved, noting that the Federal Commission takes seriously inflationary pressures for an extended period that may affect inflation expectations later, The Federal Reserve is abandoning its policy of patience and cutting interest rates on federal funds in the coming period.

In another context, we followed at the beginning of this week, President Donald Trump said that the presence of his counterpart, Chinese President Shi Jin Ping, the G20 summit, which will be held on 28-29 June in the city of Osaka, Japan, whether it is not important, His country's trade deal is likely to come from China in the end.

In the same context, US Commerce Secretary Wilbur Ross yesterday noted that there is a chance to reach a trade agreement between Washington and Beijing, but that will not happen during the events of the G20 summit, explaining that the negotiations with China is complex and will not be confirmed results until a deal is reached, To the US administration through its results on trade negotiations, while addressing the desire of his country to achieve a genuine free trade in the car markets.

On the other hand, the Ministry of Commerce announced yesterday that it decided to increase the anti-dumping duties imposed on certain types of imports from America and Europe, especially steel alloys, to 58% to 147%. That it had increased tariffs on 28 US products, in response to the recent imposition by the US administration of duties on imports of steel and aluminum.

Technical Analysis

Gold price was based on SMA 50 yesterday and started to rebound from there, approaching the 1346.70 level now, awaiting a breach of this level to confirm the continuation of the expected short-term and short term scenario, with the next key target at 1365.25.

Keep in mind that stability above 1326.00 is important to achieve the suggested targets, as breaching it will press the price lower towards the 1302.60 zones before any new attempt to rise.

The trading range for today is among the support at 1330.00 and resistance at 1360.00.

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 rebound to its third-lowest session since June 6 against the US dollar on the eve of economic developments and data expected Tuesday by the Eurozone economies and the US economy in the world.

At 04:43 GMT, the pair rose 0.12% to 1.1232, compared to the opening at 1.1218, the pair's lowest during the session, while the pair reached a high of 1.1234.

The markets are currently looking for ECB's Draghi's talk at the ECB's central bank meeting in Portugal. Otherwise, investors in the euro area's largest economies are waiting for a statistical reading of confidence in the economy, which may reflect a contraction of 5.7 versus 2.1 last May.

This comes in conjunction with the release of a statistical reading of confidence in the economy of the Euro-Zone economies as a whole, which may also show the contraction of the contraction to 3.6 against 1.6 in May, also with the publication of the seasonally adjusted index of the trade balance of the euro as a whole, which may reflect shrinking Surplus to 16.4 billion euros from 17.9 billion euros in March.

Investors are also eyeing the economy of the euro-zone as a whole to release inflation data with the release of the annual reading of the consumer price index, which may reflect a stable growth of 1.2%, unchanged from the previous reading in May, compared with 1.7% growth in April Last April, and the core annual reading of the index itself may show a stable growth of 0.8% versus 1.3% in April.

Otherwise, we have followed at the beginning of this week German Economy Minister Peter Altmeyer expressed the importance of the European Union and the United States to start trade talks immediately, noting that the trade agreement between the EU and the United States should include the abolition of all tariffs on industrial goods, He also noted that China and Europe are economic partners, but they differ at the same time.

German Minister of Economy Altmeier noted that German companies need an equal market in China and that this will be discussed in Beijing later this week, adding that the intellectual property protection file should be discussed with China. He pointed out that Europe agrees with China that The importance of the continuation of the WTO to resolve trade disputes despite the recent US embargo on the Organization.

On the other hand, investors are currently looking for the US economy to release data on the housing market with the reading of the Construction Starts Index and Construction Permits for May, where we expect to see about 1,290 thousand building permits against 0.6% at 1,296K. April, as initial homes may show stability stabilizing little changed at 1,235,000 homes versus a 5.7% drop in April.

This comes in line with the launch of the meeting of the Federal Open Market Committee in Washington, which is expected to keep the interest rates between 2.25% and 2.50% for the fourth meeting in a row, as markets look to reveal the Commission's expectations for growth rates, inflation and unemployment in addition to To the future of interest rates for the next three years, before the events of the press conference of Federal Reserve Governor Jerome Powell on Wednesday.

Technical Analysis

EURUSD is showing more narrow fluctuation around SMA 50, and the pair remains stable above the 1.1180 support level, while Stochastic is entering oversold areas.

Therefore, we believe that opportunities are available to resume the expected bullish direction for the coming period, which depends on stability above the aforementioned support, while targets start to breach the 1.1265 level to confirm the rally towards 1.1443 as the next major station.

The trading range for today is expected among the key support at 1.1150 and resistance at 1.1310.

The general trend for today is bullish.