Analytic reviews

#ABBV

The general movement is upward. The price pivot zone of 85.20 holds back sellers. The stock is trading in the range of 365 and 135 moving averages. Awesome Oscillator shows a bullish divergence. A breakout of the inclined channel by the formation of an ascending pattern will result in further growth of the stock.

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

Trading recommendations:

Buy when an ascending pattern 1-2-3 is formed, where wave 1 breaks through the inclined channel of the descending pattern.

Stop Loss: below the price pivot zone of 85.20.

Target: 100.58;

Thursday, October 15th, today’s news—a number of existing factors is pushing the global markets down. In Europe, it's the strong second wave of the coronavirus and the Brexit issue, in the US, it's the lack of a new stimulus package, Asia-Pacific shares are influenced by weak economic data, the dollar is up, oil prices are also stronger as the stockpiles fall. The price of Brent oil is $42.17, WTI—$40.00, EUR/USD is at 1.1709, GBP/USD—1.2966, gold is $1,897.40 per ounce.

The US dollar fluctuated in a narrow range that tends to rise during the Asian session, to witness its retracement to the second session from its lowest since the second of October, when it tested its lowest since September 23 against the Japanese yen, following developments and the economic data that followed it on the Japanese economy On the cusp of economic developments and data expected today, Thursday, by the US economy, the largest economy in the world.
 
At exactly 06:53 am GMT, the US dollar against the Japanese yen rose by 0.07% to 105.24 levels compared to the opening levels at 105.17, after the pair achieved its highest level during the session's trading at 105.30, while the pair achieved its lowest level at 105.09.
 
We have followed up on the Japanese economy, the second largest industrial country in Asia and the third largest industrial country in the world, the disclosure of industrial sector data, with the release of the Industrial Tertiary Index reading, which showed an acceleration of growth to 0.8% compared to 0.1%, which was revised from a 0.5% decline in July Last July, however, the current reading came below expectations, which indicated a rise of 1.2%.
 
On the other hand, investors are currently awaiting the American economy for the release of the aid requests index reading for the past week on the tenth of this month, which may reflect a decline of 30 thousand requests to 810 thousand requests compared to 840 thousand applications in the previous weekly reading, as the reading of aid requests may appear. Continuing for the past week, on the third of October, a decrease by 276 thousand requests to 10,976 thousand requests compared to 10.7 million requests.
 
This comes in conjunction with the disclosure by the largest industrial country in the world of industrial sector data, with the release of the Philadelphia Industrial Index reading, which may reflect a contraction of the expansion to a value of 14.4 compared to 15.0 in September. 13.9 compared to 17.0 in September, and with the release of the import price index reading, which may indicate a slowdown in growth to 0.3%, compared to 0.9% in August.
 
 
This comes before the US Treasury Department revealed a reading of the federal budget, which may reflect the contraction of the deficit to a value of $ 123.3 billion compared to $ 200.1 billion in August, and before we witness the speech of another member of the Federal Open Market Committee, Minneapolis Federal Reserve Bank Chairman Neil Kashkari. About the economic outlook, in a virtual chat by the fireplace hosted by New York University.

Technical analysis

 
The dollar versus the yen resumed its negative trading yesterday, pressuring the 105.20 level and closing the daily candle below it, which supports the continuation of our bearish expectations effectively in the intraday and short term, awaiting further decline that targets 104.40 levels then 103.65 as next major stations.
 
The SMA 50 continues to support the suggested descending wave, keeping in mind that breaching 105.60 may push the price to achieve intraday gains and visit 106.44 areas before any new attempt to decline.
 
The expected trading range for today is between 104.50 support and 105.80 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

Futures contracts for prices fluctuated in a narrow range that tends to decline, to witness its retracement of the third session in four sessions from its highest since September 21, overlooking the decline of the dollar index according to the inverse relationship between them following the developments that they followed from the Chinese economy, the largest consumer of metals in the world and on the cusp of developments and data The economic anticipated today, Thursday, by the US economy, the largest economy in the world, and in the midst of looking forward to the activities of the European Union summit to discuss the future trade relations of the Union with Britain after the recent exit from it.

At exactly 05:41 am GMT, gold futures contracts for December delivery fell 0.09% to trade at $ 1,904.20 per ounce compared to the opening at $ 1,906.00 per ounce, knowing that the contracts started the session on a downward price gap after it was concluded Yesterday's trading was at $ 1,907.30 per ounce, while the US dollar index declined 0.02% to 93.42 compared to the opening at 93.44.

We have followed up on the Chinese National Bureau of Statistics disclosing inflation data with the release of the annual consumer price index reading, which showed the slowdown in growth to 1.7% compared to 2.4% in August, worse than expectations that indicated a slowdown in growth to 1.9%, as for the annual reading of the price index. Producers showed that the contraction widened to 2.1% versus 2.0%, contrary to expectations that indicated a contraction of the contraction to 1.9%.

On the other hand, investors are currently awaiting the American economy for the release of the aid requests index reading for the past week on the tenth of this month, which may reflect a decline of 30 thousand requests to 810 thousand requests compared to 840 thousand applications in the previous weekly reading, as the reading of aid requests may appear. Continuing for the past week, on the third of October, a decrease by 276 thousand requests to 10,976 thousand requests compared to 10.7 million requests.

This comes in conjunction with the disclosure by the largest industrial country in the world of industrial sector data, with the release of the Philadelphia Industrial Index reading, which may reflect a contraction of the expansion to a value of 14.4 compared to 15.0 in September. 13.9 compared to 17.0 in September, and with the release of the import price index reading, which may indicate a slowdown in growth to 0.3%, compared to 0.9% in August.

This comes before the US Treasury Department disclosed a reading of the federal budget, which may reflect the shrinking of the deficit to a value of $ 123.3 billion compared to $ 200.1 billion in August, and before we witness the speech of a member of the Federal Open Market Committee, the Chairman of the Minneapolis Federal Reserve Bank, Neil Kashkari. About the economic outlook, in a virtual chat by the fireplace hosted by New York University.

In view of the developments of the second stimulus package expected in the United States, we followed yesterday the US Secretary of the Treasury Stephen Mnuchin expressed that reaching an agreement on the stimulus before the upcoming US presidential elections on November 3 will be difficult, after another phone call to him. With Democratic US House Speaker Nancy Blossy.

It is noteworthy that the markets were hoping that lawmakers in America would reach an agreement that would allow the way to adopt more stimulus soon to confront negative dependencies of the Corona pandemic on the performance of the largest economy in the world, especially about the latest proposal by the majority leader in the Senate, Mitch McConnell, but time is limited to vote on The bill to help small businesses next week, and Democrats also do not want to adopt a partial stimulus measure.

Otherwise, the markets are looking forward to the developments of the Brexit file and the European summit that is scheduled to be held in Brussels to discuss developments in trade negotiations and future relations between Britain and the Union after the exit. In another context, the European Central Bank Governor Christine Lagarde is scheduled to speak in a discussion via Later on the Internet about the global economy as part of the annual meetings of the International Monetary Fund and the World Bank.

On the other hand, European Union leaders intensified their efforts to curb the spread of the coronavirus throughout the old continent, with France announcing more stringent measures, and Germany warning of economic risks in conjunction with London's readiness to tighten restrictions, and in another context, we followed last Tuesday to stop the American regulators in a form. Temporary trial of coronavirus antibody therapy due to safety concerns.

This came after we also followed, Tuesday, temporarily suspending the trial of the Corona virus vaccine in the American company Johnson & Johnson, after one of the participants in the treatment trial had an unexplained disease, and according to the latest figures issued by the World Health Organization, the number of cases infected with the virus increased to more Of 38 million, 1,083,234 people were killed in 235 countries.

Technical analysis

The price of gold was able to end yesterday's trading below the level of 1901.80, so that the bearish trend scenario remains effective in the intraday and short term, supported by the negative pressure formed by the moving average 50, noting that the stochastic indicator is now crossing negatively, forming a negative motive that we are waiting to contribute to pushing the price. To head towards our main expected target at 1860.90.

From here, our bearish expectations will remain valid and effective in the intraday and short term terms, noting that breaching 1901.80 and holding above it will push the price to visit 1934.86 areas again before any new attempt to decline.

The expected trading range for today is between 1870.00 support and 1910.00 resistance

The expected general trend for today: Bearish.

AUDUSD

The pair is declining following the release of consumer inflation data in China despite the positive employment numbers in Australia. The overall decline in risk appetite in the markets and the second wave of COVID-19 has a broad negative impact on economic activity in the world and supports the US dollar against commodity currencies.

Technical side:

The price is at the lower Bollinger band, below SMA 5 and SMA 14. RSI is below 50% and is declining. Stoch are in the oversold zone and indicate a weaker decline.

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

Trading recommendations:

If the price drops below 0.7125, it will go further down 0.7095, and then possibly to 0.7065.

EURUSD

The overall trend is upward. A start fractal has formed above the 135 moving average. Awesome Oscillator indicates a bullish divergence. A breakout of the start fractal will result in the formation of an ascending 1-2-3 pattern.

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

Trading recommendations:

Buy above 1.1771.

Stop Loss: 1.1720.

Target levels: 1.1820; 1.1871.

#BA

The decline in stock prices has stopped, as indicated by the moving 365 and 135 in a horizontal position. Stochastic Oscillator signals an oversold condition. A breakout of 170.00 will result in the formation of an ascending wave pattern.

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

Trading recommendations:

Buy above 170.00.

Stop Loss: 156.78.

Target levels: 189.28; 207.00; 233.00.

Wednesday, October 14th, today’s news—European markets are mixed amid the pandemic concerns and positive corporate reports, investors await the speech of the ECB head Christine Lagarde. Dollar is stronger a safe haven currency as the vaccine uncertainty grows, Dow futures are up 100 points, the pound sterling is weaker as Brexit deal is still far from done. The price of Brent oil is $42.46, WTI—$40.22, EUR/USD is at 1.1722, GBP/USD—1.2930, gold is $1,899.95 per ounce.

The US dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement to the third session in five sessions from its highest since September 14 against the Japanese yen, following the developments and economic data that they followed on the Japanese economy and on the cusp of economic developments and data expected today, Wednesday. The American economy was before the largest in the world.

At exactly 06:54 am GMT, the US dollar against the Japanese yen fell by 0.03% to 105.45 levels compared to the opening levels at 105.48, after the pair achieved its lowest level during the session's trading at 105.31, while the pair achieved its highest at 105.52.

We have followed up on the Japanese economy, the second largest industrial country in Asia and the third largest industrial country in the world, revealing industrial sector data with the release of the final reading of the Industrial Production Index, which showed a 1.0% rise compared to the preliminary reading for August and expectations for a rise of 1.7% and an increase of 8.7 Last July, while the final annual reading of the same index showed a decline of 13.3% compared to the initial reading and expectations of a 13.3% decline.

On the other hand, investors are currently waiting for the US economy to release a reading of the producer price index, which is a preliminary indicator of inflation, which may reflect a slowdown in growth to 0.2% compared to 0.4% in August. While the annual reading of the index may show a growth of 0.2% against a contraction of 0.2%, and the substantial annual reading reflects an acceleration of growth to 0.9% versus 0.6%.

And this comes before we witness the speech of the members of the Federal Open Market Committee via satellite, each of the Vice Governor of the Federal Reserve, Richard Clarida, who will talk about the economic outlook and monetary policy at the annual meeting of the Institute of International Finance, and Deputy Governor of the Federal Reserve Randall Quarles, who will participate in a panel discussion On financial stability in a seminar hosted by the Systematic Risk Board.

All the way to the US Treasury Department's disclosure of the federal budget reading, which may reflect a narrowing of the deficit to a value of $ 123.3 billion compared to $ 200.1 billion in August, before we witness the Federal Reserve Vice Governor Quarles' speech again with a member of the Federal Reserve and Chairman of the Bank of Dallas Federal Reserve Robert Kaplan on financial regulation in the Monetary Policy Hypothetical Series at the Hoover Institution and Kaplan's later talk on economic expectations in monetary policy in the hypothetical Town Hall hosted by the Texas Tribune.

Technical analysis

 The dollar against the yen provided slight positive trading yesterday, to test the SMA 50, which formed a good resistance against the price, to decline again and approach the level of 105.20 now, noting that the stochastic indicator is presenting a negative crossover signal now, waiting for the price to be stimulated to break the aforementioned level and open the way for Rush towards our expected targets at 104.40 then 103.65.

From here, our expectations for the downside movement will remain valid and effective on the condition that the price maintains stability below 105.70.

The expected trading range for today is between 104.60 support and 105.80 resistance

The expected general trend for today: Bearish