Analytic reviews

Google shares rose after the decline last week as a result of the trend of investors to safe havens because of the trade war that the United States is engaged on several sides.

We will move the price action under the negative pressure effect of the moving averages, especially the 50 MA which is near 1183.80 resistance.

Stochastic is out of oversold areas so we can see a continuation of the bullish correction.

General direction of the movement: a downward trend.

Gold futures traded in a tight range slipping into the Asian session to see their rebound to the third high since April 19, 2018, as the dollar index rebounded to its third low since March 26 according to the relationship. On the eve of developments and economic data expected Tuesday by the US economy, the largest economy in the world.

Gold futures for August delivery fell 0.02% to currently trade at $ 1,331.50 per ounce compared to the opening at $ 1,331.80 an ounce. Gold futures closed the session at $ 1,329.30. The US Dollar Index rose 0.04% to 96.79 from the opening at 96.74.

Investors are waiting for the US economy to release the Producer Price Index (PPI), an initial index of inflationary pressures, which could reflect slowing growth to 0.1% versus 0.2% in April. 2.2% in the previous annual reading for April.

In the same context, the core reading of the PPI may accelerate the pace of growth to 0.2% from 0.1% in April, while the core annualized reading of the same index may show a slowdown in growth to 2.3% from 2.4% in the previous April reading , And comes hours before the disclosure of inflation data for the last month with the release of the Consumer Price Index on Wednesday.

In addition, last Friday we followed up with the Mexican delegation that visited Washington last week for understandings on the immigration and trade file under which a 5% tariff on US imports from Mexico, which was supposed to come into effect early this week, , Which in one way or another stimulated risk appetite in the financial markets and in turn weighed on gold prices, which is a safe haven.

Technical Analysis

Gold is trading around the 1326.00 level since yesterday, and the price is positively supported by the 50 SMA, while Stochastic is providing a positive cross signal now, which is a positive catalyst awaiting the pair to push the pair higher again.

Our first target is at 1346.70, and breaching it will push the price to 1365.25 directly, while the break of 1320.30 represents the key to extend the intraday correction to reach 1302.60 before attempting to return to the upside again.

The trading range for today is among the support at 1320.00 and resistance at 1346.00.

The general trend expected for today: Overall bullish.

The Australian dollar fluctuated in a tight range slipping towards the Asian session to see its third session rebound since May 8 against the US dollar following the economic developments and data followed by the Australian economy and on the eve of developments and economic data expected Tuesday by the US economy The world's largest economy.

At 0231 GMT, the AUDUSD dropped 0.06% to 0.6957, compared with the opening levels of 0.6961, after reaching a low of 0.6953, while recording a high of 0.6967.

On the Australian economy, the Australian National Bank of Business Confidence Index showed a wide spread to 7 versus zero in April, while the National Bank of Australia's confidence in the current situation narrowed to 1 Compared to $ 3 in April.

This comes just hours before Assistant Governor of the Reserve Bank of Australia for Financial Markets, Christopher Kent, gave brief remarks at the Australian Renminbi Forum in Melbourne, and the Assistant Governor of the Reserve Bank of Australia to the Economy, Lucy Ellis, delivered a speech entitled "Watching the Invisible Things" at the Free Bern Policy Lecture In Melbourne.

On the other hand, investors are looking for the US economy to release the Producer Price Index (PPI), a preliminary index of inflationary pressures that could reflect a slower growth rate of 0.1% versus 0.2% in April. 1.9% versus 2.2% in the previous annual reading for April.

In the same context, the core reading of the PPI may accelerate the pace of growth to 0.2% from 0.1% in April, while the core annualized reading of the same index may show a slowdown in growth to 2.3% from 2.4% in the previous April reading , And comes hours before the disclosure of inflation data for the last month with the release of the Consumer Price Index on Wednesday.

Technical Analysis

AUDUSD is beginning to test support for the bullish intraday channel, which is forming a bearish continuation pattern. We expect the pair to continue its bearish momentum in the coming sessions, supported by the negative pressure formed by SMA 50.

From here, we believe that opportunities are available to trade negatively over intraday and short term basis, noting that our next target is at 0.6860, while stability below 0.7044 and 0.7070 is required.

The trading range for today is expected among the support at 0.6900 and the resistance at 0.7000.

The general trend for today is bearish.

The US dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound for the second session in five sessions from its lowest since January 10 against the Japanese yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and on the brink of developments And economic data expected Tuesday by the US economy, the largest economy in the world.

At 06:04 GMT, the pair rose 0.14% to close at 108.60, compared with the opening levels at 108.45 after the pair reached a high of 108.64 and a low of 108.35.

We followed the Bank of Japan's release of the annual reading of the M2 lending index, which showed growth accelerated to 2.7% from 2.5% in April, beating expectations for a 2.6% growth rate, before we saw the initial reading Of the machinery equipment demand index, which showed a decline in the decline to 27.3% compared to 33.4% in April.

Otherwise, we followed yesterday. Japanese Prime Minister Shinzo Abe expressed his confidence in the Bank of Japan, explaining that he will push the monetary policy decision out of the Japanese central bank's jurisdiction, adding that if the risks to economic growth are high, the government will implement flexible macroeconomic policies, The same context, Japanese Finance Minister Taro Aso also reported yesterday that there is no change in plans to raise sales tax by next October.

On the other hand, investors are looking for the US economy to release the Producer Price Index (PPI), a preliminary index of inflationary pressures that could reflect a slower growth rate of 0.1% versus 0.2% in April. 1.9% versus 2.2% in the previous annual reading for April.

In the same context, the core reading of the PPI may accelerate the pace of growth to 0.2% from 0.1% in April, while the core annualized reading of the same index may show a slowdown in growth to 2.3% from 2.4% in the previous April reading , And comes hours before the disclosure of inflation data for the last month with the release of the Consumer Price Index on Wednesday.

Technical Analysis

USD/JPY pair is showing further bullishness towards the pivotal resistance of 108.80. We note that the SMA 50 is putting pressure on the price to protect the negative scenario suggested in our recent reports. Therefore, we are waiting for a bearish bounce to initial the 108.00 level, 106.75 as a next station.

On the other hand, it should be noted that the breach of 108.80 is considered the initial positive key to regain the bullish trend again.

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

The general trend for today is bearish.

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session, reversing its seventh session in 10 sessions from its lowest since May 23, when its lowest since May 19 of 2017 was tested against the US dollar on the brink of developments And economic data expected Tuesday by the economies of the euro zone and the US economy the largest economy in the world.

At 04:56 GMT, the EURUSD rose 0.04% to 1.1317, compared to the opening at 1.1312, after reaching a high of 1.1319, while reaching a low of 1.1308.

The markets are now looking for euro-zone economies as a whole to unveil the Sintex Consumer Sentiment Index, which reflects a contraction of 2.3 to 5.3 in May, hours before European Central Bank President Mario Draghi delivered remarks on Wednesday. European Central Bank for Central European countries, Eastern and South-Eastern Europe.

The Italian Finance Minister Giovanni Treya expressed his confidence in the chances of reaching an agreement with the European Commission on the Italian budget despite the threats of disciplinary measures against Italy, adding that it is possible to reach a solution to the crisis between Brussels and Rome through the work of The Government of his country to comply with the financial rules of the Commission and to clarify that its program will make the budget compatible with the rules in the European Union.

On the other hand, investors are looking for the US economy to release the Producer Price Index (PPI), a preliminary index of inflationary pressures that could reflect a slower growth rate of 0.1% versus 0.2% in April. 1.9% versus 2.2% in the previous annual reading for April.

In the same context, the core reading of the PPI may accelerate the pace of growth to 0.2% from 0.1% in April, while the core annualized reading of the same index may show a slowdown in growth to 2.3% from 2.4% in the previous April reading , And comes hours before the disclosure of inflation data for the last month with the release of the Consumer Price Index on Wednesday.

Technical Analysis

 EUR/USD pair has not seen any strong movement since yesterday, and continues to fluctuate near the 1.1300 level. Therefore, there is no change in the bullish scenario with the next key target at 1.1443, supported by SMA 50 which carries the price from the bottom. Levels of 1.1255 and 1.1180 for the continuation of the expected rise.

The trading range for today is expected between 1.1255 and 1.1400 resistance.

The general trend for today is bullish.

AUDUSD

The pair stopped falling in anticipation of the PPI publication in the US that may lead to a wave of USD sales.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving horizontally. Stoch have reversed upwards in the oversold territory.

Trading recommendations:

Buy the pair against the backdrop of weak US data after it passes the level of 0.6965 with a local target of 0.7010.

The Australian dollar fell during the Asian session to rebound to a second session of its highest since May 8 against the US dollar amid a lack of economic data by the Australian economy earlier this week and on the eve of developments and economic data expected on Monday by the US economy, the largest economy in the world.

At 0238 GMT, the AUDUSD fell 0.30% to 0.6980, compared to the opening levels at 0.7007, while the pair reached a low of 0.6979, while the highest at 0.7023, The pair started trading this week on a bullish price gap after closing last week at 0.7001.

The markets are currently looking to the US economy for a statistical reading of employment opportunities and job turnover, which may reflect a rise to 7.50 million versus 7.49 million in March, coming hours after the disclosure of labor market data at the end of last week, which showed stability Unemployment at its lowest level since 49 years at 3.6% was little changed from last April, consistent with expectations.

In the same context, we also followed last Friday's reading of the Non-Farm Employment Change Index showed a slowdown in job creation to 75,000 added jobs, compared to 224,000 jobs added in April, while the average income per hour showed stable growth at 0.2%, unchanged from April, in contrast to expectations of a 0.3% growth rate.

Technical Analysis

AUDUSD stalled at the 50 SMA and was unable to reach 0.7044, showing negative signs supporting the resumption of the main bearish trend and achieving only the upside so far. SMA 50 has formed a strong resistance against the price, while Stochastic is showing clear negative signals.

Therefore, we expect the pair to witness negative trading during the coming sessions. The targets start with breaking 0.6945 to confirm the rally towards 0.6860 as the next major station, noting that the continuation of the expected decline depends on stability below 0.7044 and 0.7075.

The trading range for today is expected among the support at 0.6920 and the resistance at 0.7000.

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 as it rebounded to its second highest session since March 22 against the US dollar on the eve of developments and economic data expected Monday by the third largest economy of the eurozone. The largest economy in the world.

At 05:03 am GMT, the EURUSD dropped 0.11% to 1.1308 compared with the opening at 1.1321, after reaching its lowest level at 1.1307, while reaching a high of 1.1331. This week's trading on a bearish price gap after closing last week at 1.1334 levels.

The markets are currently looking for Italy to release the industrial production index, which may reflect a rise of 0.2% from 0.9% in March, otherwise investors are waiting for the outcome of the talk of ECB President Mario Draghi on Tuesday, which is expected to cast Opening Remarks at the ECB Conference on Central European Countries, East and South-East Europe in Frankfurt.

On the other hand, the markets are currently looking at the US economy for a statistical reading of job opportunities and job turnover, which could reflect a rise to 7.50 million from 7.49 million in March, hours after the release of labor market data at the end of last week Which showed a stable unemployment rate at its lowest level in 49 years at 3.6%, unchanged from last April, in line with expectations.

In the same context, we also followed last Friday's reading of the Non-Farm Employment Change Index showed a slowdown in job creation to 75,000 added jobs, compared to 224,000 jobs added in April, while the average income per hour showed stable growth at 0.2%, unchanged from April, in contrast to expectations of a 0.3% growth rate.

Technical Analysis

EURUSD managed to reach our first positive target at 1.1350, and some slight bearishness is seen to settle above the 1.1300 barrier. The positive scenario remains valid for the coming period based on stability above 1.1255 as a first condition, supported by the move above SMA 50, 1.1443 as the next main station.

Therefore, we are waiting for positive trading today, taking into account that breaking the 1.1255 and then the 1.1180 will stop the expected rise and reactivate the bearish scenario in the short term.

The trading range for today is expected between 1.1255 and 1.1400 resistance.

The general trend for today is bullish.

Sberbank continues to move within the ascending channel as the pair reached 247.20 resistance.

The stock is moving under the influence of the moving averages moving below the price and forming support levels for the price.

Stochastic entered the zone of saturation of the purchase in line with the high levels achieved by the price and exit from this region will make us see some correction.

Expected movement between support 211.40 and resistance 258.39.

General trend of the movement: upward.

The US dollar fluctuated in a narrow range inclined during the Asian session to see its rebound for the second session in four sessions from its lowest since January 10 against the Japanese yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and on the brink of developments And economic data expected Monday by the US economy, the largest economy in the world.

At 06:02 GMT, the USDJPY rose 0.09% to 108.65 compared to the opening levels at 108.55 after reaching the highest level since the end of May at 108.67, while the lowest level during the session At 108.37, with the pair starting the week's trading on a bullish price gap after closing last week's trading at 108.19.

We followed the Japanese economy to reveal the seasonally adjusted gross domestic product (GDP) final reading which showed growth accelerated to 0.6% in line with expectations compared to the previous first quarter and last quarter's reading of 0.5%. Growth to 2.2% in line with expectations compared to the preliminary reading of 2.1% and 1.9% in the annual reading for the fourth quarter.

In the same context, the annualized reading of GDP showed a slowing of growth to 0.1% compared to the previous preliminary reading of the first quarter and expectations of 0.2% and against a contraction of 0.3% in the previous annual reading of the fourth quarter, coincided with the disclosure of the annual reading of the bank lending index which Growth accelerated to 2.6% from April's previous reading and expectations of 2.4%.

We also followed the world's third-largest economy by reading the current account index, which showed the surplus shrank to 1.71 trillion yen from 2.85 trillion yen in March, beating expectations that the surplus would shrink to 1.51 trillion yen, while the seasonally adjusted index The surplus widened to 1.60 trillion yen from 1.27 trillion yen in March, well above expectations of 1.44 trillion yen.

To the release of Echo Watchers' current and future statistics from the Japanese Cabinet Office, which showed a contraction of 44.1 to current conditions and 45.6 for the future versus 45.3 and 48.4 respectively in April, The current situation shrank to 45.5 and future conditions shrank to 48.0.

On the other hand, the markets are currently looking at the US economy for a statistical reading of job opportunities and job turnover, which could reflect a rise to 7.50 million from 7.49 million in March, hours after the release of labor market data at the end of last week Which showed a stable unemployment rate at its lowest level in 49 years at 3.6%, unchanged from last April, in line with expectations.

In the same context, we also followed last Friday's reading of the Non-Farm Employment Change Index showed a slowdown in job creation to 75,000 added jobs, compared to 224,000 jobs added in April, while the average income per hour showed stable growth at 0.2%, unchanged from April, in contrast to expectations of a 0.3% growth rate.

Technical Analysis

USD/JPY pair has made fresh attempts to break the 108.00 level, but has not been able to hold back below it, to provide positive trading and test SMA 50, which is a strong resistance to the price, and as long as the price is below 108.80, , Noting that the break of 108.00 will confirm the extension of the downside wave towards 106.75 in the near term.

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.