Analytic reviews

#APPLE
The stock is trading in the range of a descending price channel. The support level of 114.15 is holding back sellers. A bullish divergence has formed on Awesome Oscillator, while Stochastic Oscillator indicates an oversold condition.
#APPLE rate online: monitor the price movement in real time.

Trading recommendations:

Buy when an upward 1-2-3 pattern has formed, where the wave 1 the upper border of the descending price channel.

Stop loss under the local minimum (114.15).

Target levels: 119.00; 125.00.

Friday, October 23rd, today’s news—retail sales in the UK grew 1.5% (4.7% compared to the last year), exceeding all forecasts. European markets rise on the positive economic data, American markets and the dollar are up following the final presidential debate. The price of Brent oil is $42.38, WTI—$40.50, EUR/USD is at 1.1839, GBP/USD—1.3085, gold is $1,912.95 per ounce.

The US dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness the resumption of its rebound from its high since September 14 for the sixth session in the twelve sessions against the Japanese yen, following developments and economic data that we followed on the Japanese economy and on the cusp of developments and expected economic data today, Friday. By the US economy the largest in the world.

At 06:55 am GMT, the US dollar against the Japanese yen fell by 0.15% to 104.70 levels compared to the opening levels at 104.86, after the pair achieved its lowest level during the session’s trading at 104.67, while achieving its highest at 104.94.

We have followed up on the Japanese economy, the second largest in Asia and the third largest in the world, revealing inflation data with the release of the annual reading of the national consumer price index, which showed stability at zero levels against a growth of 0.2% last August, while the annual reading of the same index showed Excluding fresh food, the contraction narrowed to 0.3% compared to the previous annual reading and expectations for a 0.4% contraction.

In the same context, the annual reading of the CPI excluding energy and fresh food showed stability at zero levels compared to a contraction of 0.1% in August, leading to the disclosure of the preliminary reading of the manufacturing PMI by Markit from Japan, which showed the contraction of the deflation to its value. 48.0 versus 47.7 in Sep, below expectations of 48.4.

On the other hand, investors await the disclosure of the preliminary reading of the Industrial and Service Purchasing Managers' Index Markit from the United States of America, which may reflect the shrinking industrial sector expansion in the largest industrial country in the world to a value of 53.5 compared to 53.2 in the previous reading of last September, and the expansion The service sector amounted to 54.7, compared to 54.6 in September.

Technical analysis

The dollar versus yen pair begins to present negative trades now, in a sign that the price is heading to resume the expected downside trend for the upcoming period, noting that the stochastic indicator intersects negatively to motivate the price to achieve further decline today.

Thus, we will maintain our expectations for the downside, provided that it remains intact below 105.20, reminding you that our next main target will reach 103.65.

The expected trading range for today is between 103.90 support and 105.20 resistance.

The expected general trend for today: Bearish.

Futures contracts for gold prices fluctuated in a narrow range that tends to rise during the Asian session, overlooking the rebound of the US dollar index for the third session from its lowest since the second of September, according to the inverse relationship between them on the cusp of developments and economic data expected today, Friday, by the US economy and in the shadow of pricing The market for a push and pull exists between the poles of US policy, Republicans and Democrats, over the approval of a second stimulus package to support the largest economy in the world to face the negative repercussions of the Corona pandemic.

At exactly 05:46 a.m. GMT, gold futures contracts for next December delivery rose 0.01% to trade at $ 1,906.60 an ounce, compared to the opening at $ 1,906.50 an ounce, knowing that the contracts started the session on a rising price gap after it was concluded Yesterday's trading was at $ 1,904.60 per ounce, while the US dollar index rose 0.11% to 93.05, compared to the opening at 92.95.

We have followed the actions of the recent presidential outlook on the eve of the upcoming US presidential elections on November 3 between the forty-fifth US president, Republican Donald Trump and Democratic Party candidate Joe Biden, during which the two candidates discussed topics including the response to the Corona pandemic and immigration policy in addition to reforming the system. Health care, national security and many other files.

In another context, the market is looking forward to unveiling the preliminary reading of the Markit Industrial and Service Purchasing Managers Index from the United States of America, which may reflect the shrinking industrial sector expansion in the largest industrial country in the world to a value of 53.5 compared to 53.2 in the previous reading last September. The service sector expanded to a value of 54.7, compared to 54.6 in September.

Other than that, we followed yesterday the Democratic US House Speaker Nancy Pelosi expressing that the agreement on the second stimulus package to face the repercussions of the Corona pandemic is "close to completion", with her warning that passing the bill will take some time and that she is still discussing with the Trump administration, specifically. US Treasury Secretary Stephen Mnuchin settled some outstanding matters.

We would like to point out that the opposition in the Republican-controlled Senate does not want to approve an expanded package before the upcoming US presidential elections and prefers to approve a limited package, which makes, with the passage of time, opportunities for the poles of American politics to reach the ruling Republican Party and the Democratic Party to approve the second stimulus bill to face the repercussions Corona pandemic before the elections is less likely.

Technical analysis

The price of gold stabilizes around 1901.80, and the price finds a strong support ground there, supported by the positivity of the stochastic indicator, which may push the price to start recovery attempts in the intraday term, but we notice that the SMA 50 forms negative pressure against the price, which forms a contradiction between technical factors, Which makes us prefer to remain neutral until the price confirms its position in relation to the aforementioned level and then determines its next destination more precisely.

We point out that a break of 1901.80 and stability below it will confirm the continuation of the decline towards 1880.00 then 1860.90 levels as the next negative stops, while consolidating above it will push the price to start a bullish wave targeting 1934.86 areas again.

The expected trading range for today is between 1885.00 support and 1930.00 resistance.

The expected trend for today: Neutral.

AUDUSD
The currency pair is trading in the range of 365 and 135 moving averages directed down. The ascending pattern is truncated. Awesome Oscillator indicates a bearish divergence. The inclined channel of the ascending truncated pattern is broken by the assumed wave (A). A breakout of the top of the descending wave A will result in the formation of a descending pattern.
AUDUSD rate online: monitor the price movement in real time.

Trading recommendations:

Sell below 0.7101.

Stop Loss: 0.7139.

Target levels: 0.7021; 0.6967.

At the one-to-one ratio, move the stop order to breakeven.

EURUSD

The pair remains under pressure due to a number of negative factors. This is the impact of the 2nd COVID-19 wave pandemic, the situation around Brexit, as well as uncertainty of the unattainable agreement on economic incentives between Democrats and Republicans in the  US before the presidential election. These events put pressure on demand for company shares, and this, in turn, on the Eurodollar pair.

Technical side:

The price is located below the middle Bollinger band, below SMA 5 and SMA 14. Moving averages give a sell signal. RSI is below the 50% level. Stoch are trying to get out of the oversold zone.

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

Trading recommendations:

Sell the pair with a local target of 1.1745 after its decline below 1.1790.

#MSFT

The stock is trading in the range of 365 and 135 moving averages directed up and the lower border of the ascending price channel. Stochastic Oscillator indicates an oversold condition, while Awesome Oscillator indicates a bullish divergence.

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

Trading recommendations:

Buy when a 1-2-3 ascending pattern is formed.

Stop Loss: 211.00.

Target levels: 222.00; 230.50.

Thursday, October 22nd, today’s news—Germany reported weak consumer sentiment data. European and American markets decline amid the lack of progress in the new stimulus deal in the US, dollar is stronger, oil and gold are down. The price of Brent oil is $41.86, WTI—$40.16, EUR/USD is at 1.1838, GBP/USD—1.3088, gold is $1,919.40 per ounce.

Gold futures declined during the Asian session, to witness their rebound for the second session from their highest since October 12, when they tested their highest since September 21 amid the US dollar index rebounding to the second session from its lowest since the second of September, according to The inverse relationship between them on the cusp of developments and economic data expected today, Thursday, by the US economy, the largest economy in the world.

At exactly 05:19 a.m. GMT, gold futures contracts for December delivery fell 0.53% to trade at $ 1,916.60 an ounce compared to the opening at $ 1,927.40 per ounce, knowing that the contracts started trading on a downward price gap after it was concluded Yesterday's trading was at $ 1,929.50 an ounce, with the US dollar index rising 0.08% to 92.79 compared to the opening at 92.71.

Investors are currently awaiting the American economy to see the release of the aid requests index reading for last week on October 17th, which may reflect a decline of 38,000 requests to 860,000 requests compared to 898,000 requests in the previous weekly reading, and the aid requests reading may also appear. Continuing for the past week on the tenth of this month, a decrease by 518 thousand requests to 9.5 million requests compared to 10,018 thousand requests.

This comes before we witness the disclosure of housing market data, with the release of the Existing Home Sales Index reading, which may show an acceleration of growth to 3.3% to about 6.20 million homes compared to 2.4% at 6.00 million homes last August, coinciding with the release of the leading indicators reading. For the month of September, which may reflect slowing growth to 0.8%, compared to 1.2% in August.

Technical analysis

The price of gold continues to decline after approaching our awaited target at 1934.86, which indicates that the price is on its way to achieve more possible decline in the coming sessions, as it recorded a low top as shown in the picture, reinforced by the negativity of the stochastic indicator that supports the chances of achieving negative targets that start with testing the 1901.80 level Noting that breaking this level will push the price to visit 1880.00 then 1860.90 levels as next negative stops.

Thus, we expect to witness more decline today, bearing in mind that breaching 1934.86 will stop the negative scenario and lead the price to resume the bullish wave and achieve more gains in the short term.

The expected trading range for today is between 1890.00 support and 1930.00 resistance.

The expected general trend for today: Bearish.

Cisco share continues its sideways movement around the support level of 38.50, as it closed yesterday's trading above this level, correcting the bearish path.

The trades stabilized below the MA 50, which is pressuring the price for a further decline, which supports expectations for a further decline in the upcoming sessions, provided that it is stable below the 7-20 averages, which form support levels for the price.

The expected trading range is between 37.50 support and 42.20 resistance

The expected general trend for today: Bearish