Analytic reviews

EURUSD

The pair found support at 1.1745 amid the more positive sentiment in the stock markets after the Wednesday’s drop. If the positive sentiment prevails in the market today, and the stock markets continue to recover, expect the pair to grow locally.

Technical side:

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is below the 50% level and is moving horizontally. Stoch are growing steadily.

EURUSD rate online: monitor the price movement in real time.

Trading recommendations:

If the pair stays below 1.1745, it will grow further to 1.1800.

Wednesday, October 28th, today’s news—Deutsche Bank posted a net profit of $214 million, beating forecasts, but the shares are down amid the overall pessimism in the European markets. Uncertainty over the new stimulus and the election in the US, the pandemic weigh on the markets, France is considering a nation-wide lockdown, Dow futures down 300 points, Microsoft shares down 2% after a disappointing report, dollar and safe-haven currencies gain. The price of Brent oil is $40.33, WTI—$38.03, EUR/USD is at 1.1755, GBP/USD—1.2968, gold is $1,902.80 per ounce.

The Australian dollar fluctuated in a narrow range that tends to rise during the Asian session, to witness its rebound to the fifth session in seven sessions from its lowest since September 25, when it tested its lowest since July 20 against the US dollar, following developments and economic data that followed it on the economy Australia is on the cusp of economic developments and data expected on Wednesday by the US economy, the largest economy in the world.
 
At exactly 03:59 am GMT, the Australian dollar against the US dollar rose 0.07% to 0.7134 levels compared to the opening levels at 0.7129, after the pair achieved its highest level during the session's trading at 0.7137, while it achieved the lowest level at 0.7113.
 
We have followed up on the Australian economy revealing inflation data for the third quarter with the release of the consumer price index reading, which showed a growth of 1.6% compared to a contraction of 1.9% in the last second quarter, surpassing the expectations that indicated a growth of 1.5%, and the core reading of the same index showed a growth of 0.4%. Against a contraction of 0.1%, also beating expectations of 0.3% growth.
 
In the same context, the annual reading of the consumer price index for the third quarter showed a growth of 0.7%, in line with expectations, compared to a contraction of 0.3% in the previous annual reading for the second quarter, while the core annual reading of the same index showed the stability of the growth rate at 1.2% during the third quarter, contrary to the expectations that It indicated a slowdown in the pace of growth to 1.1%.
 
On the other hand, investors are currently awaiting the US economy to unveil the merchandise trade balance index reading, which may reflect the widening of the deficit to a value of $ 84.8 billion compared to $ 82.9 billion last August, in conjunction with the release of the preliminary reading of the wholesale stocks index, which may Indicates that the pace of growth stabilized at 0.4% in August.
 
And this comes before we witness the participation of a member of the Federal Open Market Committee and Chairman of the Dallas Federal Reserve Bank Robert Kaplan in a virtual panel discussion with former Bank of England Governor Mark Carney hosted by the Federal Reserve Bank of Dalas. Other than that, the tug of war continues between the two poles of US policy, Republicans and Democrats about Approval of a second stimulus package to support the economy in facing the repercussions of the Corona pandemic.

Technical analysis

 
The Australian dollar against the US dollar did not show any strong movement in the past sessions, to remain stable without resistance for the descending channel, and therefore, there is no change to the bearish trend scenario that depends on stability below 0.7165, while our main awaited targets are at 0.7000 then 0.6964.
 
The expected trading range for today is between 0.7060 support and 0.7180 resistance
 
The expected general trend for today: Bearish

Futures contracts for gold prices fluctuated in a narrow range that tends to decline during the Asian session, overlooking the decline of the US dollar index according to the inverse relationship between them, in conjunction with the continuing activities of the meeting of senior Chinese leaders in the Central Committee of the Communist Party of China and on the cusp of economic developments and data expected today, Wednesday, by the US economy The largest economy in the world and in the shadow of market pricing of a second wave of Coronavirus outbreak globally, especially in the West.

At exactly 05:38 a.m. GMT, gold futures contracts for December delivery fell 0.03% to trade at $ 1,909.30 an ounce, compared to the opening at $ 1,909.80 per ounce, knowing that the contracts started the session on a downward price gap after it was concluded Yesterday's trading was at $ 1,911.90 an ounce, while the dollar index declined 0.04% to 93.11 compared to the opening at 93.11.

Investors' attention is now directed to the activities of the meeting of senior Chinese leaders in the Central Committee of the Communist Party of China, which began at the beginning of this week and continues until tomorrow Thursday to plan the course of economic development for the next fifteen years for the largest Asian economy, the second largest economy in the world, the largest consumer of minerals in the world and the second largest country. Industrial in the world.

Otherwise, we followed yesterday the data of the Gold Association in China that gold consumption increased during the past three months on September 30 from the second quarter by 29% to about 548 tons of gold, while the data reflected a similar decline in the same percentage for the same months of 2019 We would like to point out that the Union had previously reported that China's consumption declined 38% on an annual basis in the first half of 2020 due to the outbreak of Corona and the slowdown in the Chinese economy.

On the other hand, investors are currently awaiting the US economy to unveil the merchandise trade balance index reading, which may reflect the widening of the deficit to a value of $ 84.8 billion compared to $ 82.9 billion last August, in conjunction with the release of the preliminary reading of the wholesale stocks index, which may Indicates that the pace of growth stabilized at 0.4% in August.

And this comes before we witness the participation of a member of the Federal Open Market Committee and Chairman of the Dallas Federal Reserve Bank Robert Kaplan in a virtual panel discussion with former Bank of England Governor Mark Carney hosted by the Federal Reserve Bank of  Dalas. Other than that, the tug of war continues between the two poles of US policy, Republicans and Democrats about Approval of a second stimulus package to support the economy in facing the repercussions of the Corona pandemic.

In addition, the markets are looking forward to the developments and results of the intensive daily negotiations between the European Union and the United Kingdom during this week, which aim to finalize an agreement on future and trade relations between Brussels and London by the middle of next month, especially after Britain's exit from the European Union on January 31. the past.

Technical analysis

The price of gold is hovering around the SMA 50, and we note that the stochastic indicator lost its positive momentum to show negative signs now, which motivates the price to resume the expected downside trend for the coming period, which depends on stability without the broken support of the ascending channel that appears in the image, waiting to head towards 1860.90 areas in a way. Main.

Therefore, we await negative trading today, bearing in mind that breaching 1912.00 will stop the expected decline and lead the price to achieve new intraday gains, targeting initially testing 1934.86.

The expected trading range for today is between 1890.00 support and 1920.00 resistance

The expected general trend for today: Bearish

Sberbank continues to move within the descending channel in an attempt to correct the descending path after the stock opened trades on a large price gap where the price broke through the lower bound of the ascending channel within which it was moving and also managed to breach the support level 216.25

The price is moving below the moving averages that form resistance to the price and pressuring it to continue the downward path, although the price is moving away from the averages, so we could see a bullish correction to the 20 average at the resistance level of 216.34.

The current price action takes place between the support level 202.55 and the resistance level 2016.37 over the medium period which will be the main targets of the price action.

The general direction of the movement: a bearish path

#T

After a bullish gap, the company’s shares are once again testing historic lows amid the uncertainty over the next week’s election in the US. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator signals an oversold condition.

#T rate online: monitor the price movement in real time.

Trading recommendations:

Buy when 1-2-3 (an ascending pattern) is formed.

Stop Loss: 26.50.

Target levels: 27.73; 28.38; 28.90.

GBPNZD

The currency pair is trading in the range of the lower border of the ascending price channel. Awesome Oscillator indicates a bullish divergence, while the moving averages of Stochastic Oscillator have left the oversold zone. The descending pattern is truncated.

GBPNZD rate online: monitor the price movement in real time.

Trading recommendations:
Buy when an ascending wave pattern is formed above 1.9468.

Stop Loss under the round important level of 1.9400.

Target levels: 1.9550; 1.9650; 1.9750.

USDJPY

The second wave of COVID-19 in Europe and the record-breaking number of new cases and death toll in America revived the demand for defensive assets. This creates interest in safe havens, including the yen. This market sentiment may lead to a further decline of the pair.

Technical side:

The price is below the lower Bollinger band, below SMA 5 and SMA 14. RSI is entering in the oversold zone. Stoch are already there and uninformative.

USDJPY rate online: monitor the price movement in real time.

Trading recommendations:

If the pair holds below 104.35, it will go further down to 104.00, and then to 103.65.

Tuesday, October 27th, today’s news—HSBC, Europe's largest bank by assets, reported a better-than-expected profit of $3.07 billion, shares jumped 5%. Dow fell 700 points during yesterday's sell-off, but the markets are bouncing back, Asia-Pacific markets are mixed, European shares slip, oil is up, but the overall outlook is negative. The price of Brent oil is $41.07, WTI—$38.83, EUR/USD is at 1.1808, GBP/USD—1.3018, gold is $1,901.35 per ounce.

The single currency, the euro, fluctuated in a narrow range sloping to an upside during the Asian session, to witness its retracement to the sixth session in nine sessions from its lowest since late September against the US dollar on the cusp of economic developments and data expected today, Tuesday, by the economies of the euro area and the US economy, the largest economy In the world.
 
At 06:12 AM GMT, the euro pair rose against the US dollar by 0.14% to 1.1827 levels, compared to the opening levels at 1.1810, after the pair achieved its highest level during the session's trading at 1.1828, while the lowest level was at 1.1807.
 
Investors are looking to the Spanish economy to reveal labor market data with the release of the unemployment rate index reading, which may show a rise to 16.0% compared to 15.3% in the second quarter last, and this comes before we witness about the economies of the euro area as a whole, the disclosure of the annual reading of the private loans index It may reflect an acceleration of growth to 3.1%, compared to 3.0% last August.
 
This comes in conjunction with the release of the annual reading of the M-3 money supply index also from the economies of the euro area as a whole, which may show an acceleration of growth to 9.6% compared to 9.5% in August. During this week, which aims to finalize an agreement on future trade relations between Brussels and London by the middle of next month.
 
On the other hand, investors await the US economy to reveal a reading of the durable goods orders index, which represents about half of consumer spending, which accounts for more than two-thirds of the gross domestic product in the United States, and which may reflect the stability of the pace of growth at 0.5% during September, while The core reading of the same index may show the pace of growth slowing to 0.3%, from 0.6% in August.
 
This comes before we witness the disclosure of the US housing market data with the release of the house price index reading, which may indicate a slowdown in growth to 0.7% compared to 1.0% last July, in conjunction with the release of the Standard & Poor's Composite-20 home price reading, which may appear. Growth also slowed to 0.5% from 0.6% in July, while the annual reading of the same index may reflect an acceleration of growth to 4.2%, compared to 3.9% in July.

Technical analysis

 
The euro against the dollar was unable to surpass the moving average 50, which formed a strong support ground against the price, to start providing positive trades now, and by carefully looking at the chart, we find that recent trades are confined to a bullish triangular flag pattern that supports the chances of resuming the main bullish trend, especially since Stochastic oscillator is now providing positive signals.
 
Thus, the aforementioned factors encourage us to suggest the negative scenario stops and turn towards the upside again, starting the positive targets at 1.1900 and extending to 1.2011, bearing in mind that breaking 1.1805 will stop the expected rise and pressurize the price to test 1.1720 before any new attempt to rise.
 
The expected trading range for today is between 1.1750 support and 1.1920 resistance
 
The expected general trend for today: Bullish