Analytic reviews

Cisco is up again after testing support at 50.95 but facing resistance from SMA 50

The moving averages move above the price and form price resistance levels and pressure to drop.

Stochastic is out of the oversold area and the price is pressed to the upside.

The general trend of the movement is bullish.

The Australian dollar fluctuated in a narrow range slipping towards the Asian session to see its rebound for the second consecutive session of its highest since May 10 against the US dollar following developments and economic data that followed on the Australian economy and on the eve of developments and economic data expected on Thursday by The US economy is the largest economy in the world.

At 02:23 GMT, the AUDUSD dropped 0.07% to 0.6965, compared with the opening levels of 0.6970, after recording a low of 0.6964 and a high of 0.6973.

We have followed the Australian economy to reveal the trade balance, which showed that the surplus shrank to A $ 4.87 billion compared to A $ 4.89 billion in March, contrary to expectations that the surplus shrank to A $ 5.05 billion, From the first-quarter growth data, Australia's economy expanded 0.4% in line with expectations.

The Reserve Bank of Australia's interest rate statement on Tuesday included a decision by the central bank's monetary policy makers to cut short-term benchmark interest rates by 25 basis points to 1.25% from 1.50%, which analysts had expected at the time. Also on Tuesday, Governor of the Central Bank of Australia Philippe Lowy is speaking at a Sydney Reserve Dinner party in Sydney.

On the other hand, the markets are currently waiting for the US economy to reveal the final reading of the productivity index and the cost of one work, which may show the stability of productivity growth at 3.6%, unchanged from the preliminary reading for the first quarter, compared to 1.9% in the previous reading of the last quarter, At 0.9%, also slightly unchanged from the preliminary reading, versus 2.0% growth in the previous quarter's reading.

This comes in conjunction with the reading of the index of claims for the week ending in early June, which may reflect the stability of 215 thousand requests, unchanged from the previous weekly reading, while may show the reading of the index of applicants for aid for the week of 25 May increase By 5 thousand applications to 1,662 thousand applications compared to 1,657 thousand applications in the previous weekly reading.

This is also in line with the release of the trade balance, which could reflect a widening deficit to $ 50.5 billion versus $ 50.0 billion in March, before we see the expected talk of FOMC member and New York Fed Chairman John Williams about the economy At the Council on Foreign Relations in New York.

This comes hours after the Beige Book report, which is important in being released two weeks before the FOMC meeting, followed by Federal Reserve Governor Jerome Powell earlier this week that the Fed would act appropriately to maintain the pace of growth The highest 2% and low unemployment rates in the US, explaining that he closely monitors the implications of trade tensions.

Technical Analysis

AUDUSD finds a good resistance formed by SMA 50 against positive price attempts, but since the price is above 0.6930, the bullish bias remains likely over the intraday basis, awaiting the test of 0.7044 before returning to the downside.

Keep in mind that a break of 0.6930 will halt the suggested rally and push the price back to resume the major descending wave again, with the first key target at 0.6707.

The trading range for today is expected among the support at 0.6945 and the resistance at 0.7044.

The expected general trend for today: temporarily bullish.

The US dollar fell during the Asian session to stabilize near the five-month low against the Japanese yen amid tight economic data by the Japanese economy on the brink of the forthcoming speech of Bank of Japan Governor Haruhiko Kuroda at the spring meeting of the Institute of International Finance in Tokyo and developments and economic data expected on Thursday from Ahead of the US economy, the world's largest economy.

At 06:03 GMT, the pair dropped 0.29% to 108.15 from the opening level at 108.46 after recording a low of 108.13 and a high of 108.47.

Investors are currently waiting for the US economy to disclose the final reading of the productivity index and the cost of one work, which may show the stability of productivity growth at 3.6%, unchanged from the first reading of the first quarter, compared to 1.9% in the previous reading of the fourth quarter last, Also slightly unchanged from preliminary reading and versus 2.0% growth in the previous quarter's reading.

This comes in conjunction with the reading of the index of claims for the week ending in early June, which may reflect the stability of 215 thousand requests, unchanged from the previous weekly reading, while may show the reading of the index of applicants for aid for the week of 25 May increase By 5 thousand applications to 1,662 thousand applications compared to 1,657 thousand applications in the previous weekly reading.

This is also in line with the release of the trade balance, which could reflect a widening deficit to $ 50.5 billion versus $ 50.0 billion in March, before we see the expected talk of FOMC member and New York Fed Chairman John Williams about the economy At the Council on Foreign Relations in New York.

Technical Analysis

USD/JPY pair is showing some slight bullishness after finding strong support at the 108.00 barrier, and we are still waiting to break this level to confirm the continuation of the bearish trend in the short term, noting that Stochastic is providing negative signals that support the chances of achieving the desired break and then rush towards Our next main goal is up to 106.75.

In general, we will continue to bias the bearishness in the coming sessions provided that the price remains stable below the level of 108.80.

The trading range for today is expected among the key support at 107.40 and the resistance at 108.80.

The general trend for today is bearish.

EURUSD

The pair is trading above the level of 1.1220 in anticipation of the ECB monetary policy meeting. The pair is likely to be put under pressure if Mario Draghi hints at a possible extension of the economic stimulus measures.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages suggest selling. RSI is close to the level of 50%, crossing it would mean a signal to sell. Stoch are in the oversold territory and aren’t informative.

Trading recommendations:

Sell the pair if it goes below 1.1220 with a target of 1.1175.

The Australian dollar fluctuated in a tight range to rise during the Asian session to see its seventh session rebound in 10 sessions from its lowest since May 17, when it tested its lowest since January 3 against the US dollar following developments and economic data that Followed by the Australian economy and on the eve of developments and economic data expected Wednesday by the US economy.

At 02:05 GMT, the AUDUSD rose 0.11% to 0.6999 compared to the opening levels of 0.6991, after reaching a high of 0.7002, while the lowest at 0.6984.

We followed the Australian economy from the reading of the services sector index, which showed a widening to 52.5 against a contraction of 46.5 in April, before we saw the disclosure of GDP reading, which showed acceleration of growth to 0.4% in line with expectations compared to 0.2% In the fourth quarter, while the same year's annual reading showed that growth slowed to 1.8%, also in line with expectations versus 2.3% in the fourth quarter.

This came hours after the release of the Reserve Bank of Australia's interest rate statement, which included a decision by monetary policy makers at the Reserve Bank of Australia to cut short-term benchmark interest rates by 25 basis points to 1.25% from 1.50%, which was expected by analysts. Before we also see yesterday the talk of Governor of the Central Bank of Australia Philippe Lowe at a dinner for Australian Reserve in Sydney.

On the other hand, investors are currently waiting for the US economy to release preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the slow pace of job creation to 185 thousand jobs added to 275 thousand jobs added in April, before Hours of disclosure of the monthly report of non-agricultural jobs and unemployment rates in addition to the average income per hour for the last month.

This comes before the Federal Open Market Committee (FOMC) and Federal Reserve Governor Richard Clarda gave the opening remarks at the event hosted by the Chicago Federal Reserve Bank, coinciding with the final reading of Markit Institute's Index of Service Providers by the United States, which may reflect the stability of the widening At 50.9 versus 53.0 in April.

This is a significant indicator of the fact that the service sector in America represents more than two-thirds of the gross domestic product (GDP) there. This comes in conjunction with the index of the Institute of Supply Services, which may show a breadth of 55.6 versus 55.6 in April. With federal commissioner and federal governor Michael Bowman giving evidence at the nomination session before the Senate Banking Committee in Washington.

Markets are also looking forward later today to unveil the Beige Book report, which is important in its release two weeks before the FOMC meeting, hours after US Federal Reserve Governor Jerome Powell said the Fed would act appropriately to keep pace with growth. The highest 2% and low unemployment rates in the US, explaining that he closely monitors the implications of trade tensions.

Federal Reserve Governor Paul said yesterday at the event hosted by the Federal Reserve Bank of Chicago that the Federal Reserve does not know how and when trade tensions will be resolved, as he points out that the FOMC takes seriously as long-term inflationary pressures may affect expectations Inflation later, boosting speculation about a possible cut in federal funds rates in the coming period

Technical Analysis

AUDUSD continues to rise gradually approaching our positive target at 0.7044, and therefore our bullish intraday outlook remains intact, noting that we are likely to rebound after touching this target to resume trading within the descending channel.

A break of 0.6925 will halt the current rally and press the pair to move downward, while breaching 0.7044 will extend the pair's gains to 0.7100 as the next major station.

The trading range for today is expected among the support at 0.6945 and the resistance at 0.7060.

The expected general trend for today: temporarily bullish.

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its fifth session retreat from its lowest since May 23, when its lowest since May 19, 2017 against the US dollar on the eve of economic developments and data Expected on Wednesday by the euro zone economies and the US economy, the world's largest economy.

At 04:51 GMT, the EURUSD rose 0.09% to 1.1262, compared to the opening at 1.1252, after reaching a high of 1.1266 and a low of 1.1251.

The markets are looking for Spain, the fourth largest economy in the euro area, to reveal the PMI service index, which may show a contraction of 52.5 versus 53.1 last April, before seeing the same indicator for Italy, the third largest economy in the region. Shrinking to a value of 49.9 versus an increase of 50.4 in April.

France's second-largest economy may also be seeing the final reading of the PMI index, which may show the stability of the widening at 51.7 unchanged from the previous reading of the previous month and from 50.5 in April, before the final reading of the same index of Germany's largest economies Region, which may also show stability at 55.0, unchanged from the previous reading and 55.7 in April.

To show the final reading of the Euro-zone PMI which may show a widening of 52.5, unchanged from the previous reading, versus 52.8 in April, before we also see the economy of the region as a whole, 0.5% versus stability at zero levels in March, while the annual reading of the same index may show a slowdown in growth to 1.5% versus 1.9%.

This comes in conjunction with the release of inflation data for the economies of the euro-zone as a whole with the release of the producer price index, which is a preliminary index of inflationary pressures, which may reflect 0.4% growth versus 0.1% contraction in March, while the same annual reading may show growth accelerating to 3.1% In contrast, we followed yesterday the German Chancellor Angela Merkel expressed the importance of Brussels and Washington reaching a trade agreement.

Otherwise, markets are looking to the ECB meeting on Thursday, where interest rates may be kept at zero levels ahead of ECB President Mario Draghi's expected talk.

On the other hand, investors are currently waiting for the US economy to release preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the slow pace of job creation to 185 thousand jobs added to 275 thousand jobs added in April, before Hours of disclosure of the monthly report of non-agricultural jobs and unemployment rates in addition to the average income per hour for the last month.

This comes before the Federal Open Market Committee (FOMC) and Federal Reserve Governor Richard Clarda gave the opening remarks at the event hosted by the Chicago Federal Reserve Bank, coinciding with the final reading of Markit Institute's Index of Service Providers by the United States, which may reflect the stability of the widening At 50.9 versus 53.0 in April.

This is a significant indicator of the fact that the service sector in America represents more than two-thirds of the gross domestic product (GDP) there. This comes in conjunction with the index of the Institute of Supply Services, which may show a breadth of 55.6 versus 55.6 in April. With federal commissioner and federal governor Michael Bowman giving evidence at the nomination session before the Senate Banking Committee in Washington.

Markets are also looking forward later today to unveil the Beige Book report, which is important in its release two weeks before the FOMC meeting, hours after US Federal Reserve Governor Jerome Powell said the Fed would act appropriately to keep pace with growth. The highest 2% and low unemployment rates in the US, explaining that he closely monitors the implications of trade tensions.

Federal Reserve Governor Paul said yesterday at the event hosted by the Federal Reserve Bank of Chicago that the Federal Reserve does not know how and when trade tensions will be resolved, as he points out that the FOMC takes seriously as long-term inflationary pressures may affect expectations Inflation later, boosting speculation about a possible cut in federal funds rates in the coming period.

Technical Analysis

EUR/USD pair continues to fluctuate around the 1.1260 level and keeps the daily closing below this level, keeping our bearish outlook intact for the day, waiting for a breach of 1.1180 to consolidate the chances of a rally towards 1.1100 which is our first major target.

A break above 1.1260 and stability above it will stop the bearish outlook and push the pair to gain additional gains of 1.1350 then 1.1443.

The trading range for today is expected among the key support at 1.1150 and resistance at 1.1320.

The general trend for today is bearish.

Aeroflot is rising after the 90.30 support level has held back against the falling price to bounce back above 95.78 resistance.

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

The price above 95.78 is a prerequisite for continued bullishness.

Stochastic is in a bullish upward path within the oversold areas.

General direction of movement: neutral.

EURUSD

The pair is consolidating near the level of 1.1260 in anticipation of important economic data in the US. If it’s lower than predicted, the pair may continue growing, as the Fed will be believed to start reducing interest rates this year.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought territory. Stoch are growing.

Trading recommendations:

The pair may correct downwards to 1.1240 before the US economic data is released, but since it’s likely to be weak, the pair will probably surge to 1.325.

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 May 23, when its lowest since May 19, 2017 against the US dollar on the eve of economic developments and data Expected by the euro-zone economies and the US economy Tuesday, including Fed Chairman Jerome Powell's speech.

At 05:02 GMT, the EURUSD rose 0.04% to 1.1246, compared to the opening at 1.1241, the pair's low during the session, while the pair reached a high of 1.1258.

The markets are currently looking for France, the region's second largest economy, to reveal last month's treasury budget before the region's fourth-largest economy sees Spain's Unemployment Change Index, which may reflect a contraction of 67.0K versus 91.5K in April , And Italy's third-biggest unemployment reading, which could show a rise to 10.3% from 10.2% in March.

This comes before we see the economy of the region as a whole disclosure of inflation data with the publication of the preliminary annual CPI, which may reflect the slowdown of growth to 1.4% compared to 1.7% in April, and may show the core annual reading of the same index slowing growth to 1.0% Against 1.3%, in conjunction with a reading of unemployment rates for the region as a whole, which may reflect stability at 7.7%, unchanged from March.

Otherwise, markets are looking to the ECB meeting after Thursday, during which interest rates may be kept at zero levels ahead of ECB President Mario Draghi's expected talk.

On the other hand, investors are looking forward to introducing Fed Chairman and Federal Reserve Chairman John Williams to the opening remarks at the event hosted by the Bank of New York Federal Reserve before we see the upcoming talk of Federal Reserve Governor Jerome Powell about the Fed's policy strategy, tools and communication practices At the event hosted by the Chicago Fed.

Leading to the release of the factory demand index, which may reflect a 1.0% drop from 1.9% in March. This comes hours before the Beige report, which is important as it was issued two weeks before the FOMC meeting, The Federal Committee in their decisions and directions to stimulate and support the pace of growth and the US labor market in addition to achieving inflation target at 2%.

Looking ahead to the US labor market, preliminary data on the labor market are expected to be released on Wednesday with the release of the Change in Private Sector Index, which may reflect a slowdown in job creation to 185,000 jobs, compared to 275,000 in April. Hours before the disclosure of the monthly report of non-agricultural jobs and unemployment rates in addition to the average income per hour for the last month.

Technical Analysis

EUR/USD pair rallied yesterday to test the 1.1260 level and stabilize near it, maintaining its stability below this level so far, and note that SMA 50 is trying to pressure the price in a sign to return to the downside in the coming sessions.

Therefore, the bearish trend will remain likely over intraday and short term basis unless 1.1260 is breached and the daily closing is above it, noting that the break of 1.1180 will reinforce the chances of heading towards the first negative target at 1.1100.

The trading range for today is among the key support at 1.1150 and resistance at 1.1300.

The general trend for today is bearish.

Gold futures fluctuated in a tight range slipping into the Asian session to see their rebound for the second high session since Feb. 25, shedding the dollar index for the third consecutive session, according to the opposite relationship between them on the eve of developments and economic data expected Tuesday By the US economy, which includes the talk of Federal Reserve Governor Jerome Powell.

At 0338 GMT, gold futures futures fell 0.05% to currently trade at $ 1,327.2 per ounce, compared with the opening at $ 1,329.70 an ounce, while the US dollar index fell 0.04% to 97.18 compared to the opening at 97.21. .

Investors are now waiting for Federal Reserve Chairman and Federal Reserve Chairman John Williams to make the opening remarks at the event hosted by the New York Federal Reserve before we see the upcoming talk of Federal Reserve Governor Jerome Powell about the Fed's policy strategy, tools and communication practices at the event. Hosted by the Chicago Fed.

Leading to the release of the factory demand index, which may reflect a 1.0% drop from 1.9% in March. This comes hours before the Beige report, which is important as it was issued two weeks before the FOMC meeting, The Federal Committee in their decisions and directions to stimulate and support the pace of growth and the US labor market in addition to achieving inflation target at 2%.

Looking ahead to the US labor market, preliminary data on the labor market are expected to be released on Wednesday with the release of the Change in Private Sector Index, which may reflect a slowdown in job creation to 185,000 jobs, compared to 275,000 in April. Hours before the disclosure of the monthly report of non-agricultural jobs and unemployment rates in addition to the average income per hour for the last month.

Technical Analysis

 The price of gold provided strong positive trading yesterday to settle above the 1320.00 barrier, reinforcing expectations for a continuation of the bullish trend over the short term and intraday basis, noting that we are waiting for a visit to 1346.70 which is our next major stop.

SMA 50 supports the suggested bullish wave, while breaching 1302.60 will stop the current rally and put the price under the corrective correction again.

The trading range for today is among the key support at 1315.00 and resistance at 1346.00.

The general trend for today is bullish.