Analytic reviews

Friday, October 9th, today’s news—the UK's economic recovery slowed in August amid the pandemic. American and European markets rise in anticipation of fiscal stimulus updates, dollar is weaker, oil prices jump on fears of supply cuts from as Norwegian oil workers strike. The price of Brent oil is $43.00, WTI—$40.83, EUR/USD is at 1.1802, GBP/USD—1.2943, gold is $1,919.90 per ounce.

The Australian dollar fluctuated in a narrow range sloping upward during the Asian session, to witness its retracement for the third consecutive session since the 29th of September against the US dollar, following the developments and economic data that they followed on the Australian economy and on the cusp of economic developments and data expected today, Friday, by the economy. The US is the largest economy in the world.

At 04:20 am GMT, the Australian dollar against the US dollar rose 0.25% to 0.7183 levels compared to opening levels at 0.7165, after the pair achieved its highest level during the session's trading at 0.7187, while it achieved the lowest level at 0.7161.

We have followed up on the Reserve Bank of Australia's disclosure of its semi-annual report to review financial stability, which presented its assessment of the conditions in the financial system and the potential risks to financial stability, including the global financial environment, specifically, the risks from investment funds and the Corona pandemic, domestic and commercial financial in Australia and specifically The risks of business failure in the Corona pandemic, in addition to the Australian financial system, specifically the use of capital reserves for banks, and that is in addition to regulatory developments.

On the other hand, investors are currently awaiting the US economy the release of the final reading of the wholesale inventories index, which may confirm an increase of 0.5%, unchanged from the previous initial reading for the month of August and against a decline of 0.3% last July. Otherwise, attention is drawn to Markets for any developments regarding the chances of reaching a second stimulus package by the Republicans and Democrats of US policy in the shadow of the tension and attraction between them.

Technical analysis

The Australian dollar against the US dollar is going through a new re-test of 0.7190 and is still below it until now, accompanied by the emergence of clear overbought signs through the stochastic indicator, awaiting the resumption of the expected bearish trend for the coming period, which targets 0.7100 then 0.6964 as next major stations.

On the other hand, we should note that breaching 0.7190 and building a base above it will stop the suggested decline and push the price to resume the main bullish trend again.

The expected trading range for today is between 0.7100 support and 0.7220 resistance.

The expected general trend for today: Bearish.

Futures contracts rose by nearly one percent to witness their rebound for the third consecutive session from the lowest since September 28, amid the rebound of the US dollar index for the eighth session in eleven sessions from its highest since July 24, according to the inverse relationship between them on the cusp of developments and data The economic anticipated today, Friday, by the US economy and in the shadow of the tension and attraction among US lawmakers about reaching an agreement on additional stimulus to support the world's largest economy in the face of the repercussions of the Corona pandemic.

At exactly 04:25 am GMT, gold futures contracts for December delivery rose 0.85% to trade at $ 1,914.50 an ounce, compared to the opening at $ 1,898.40 per ounce, knowing that the contracts started the session on a downward price gap after it was concluded Yesterday's trading at $ 1,895.10 per ounce, with the US dollar index declining 0.11% to 93.45 compared to the opening at 93.56.

Investors are currently awaiting the US economy the release of the final reading of the wholesale inventories index, which may confirm an increase of 0.5%, unchanged from the previous initial reading for the month of August and compared to a decline of 0.3% last July. Otherwise, we followed yesterday the report that You mentioned the fact that US President Donald Trump telephoned the Majority Leader in the House of Representatives Kevin McCarthy and said he wanted a "big deal."

Yesterday, we also followed up the report that touched on the fact that US Secretary of the Treasury Stephen Mnuchin told Democratic US House Speaker Nancy Pelosi yesterday during their ongoing discussions about the chances of reaching a second stimulus package to face the repercussions of the Corona pandemic, that Republican President Trump wants an agreement on a comprehensive aid package, which reflects the continuing tension And the attraction between the two poles of US policy, Republicans and Democrats, towards the stimulus.

It is reported that US President Trump expressed last Wednesday that he would agree to extend a separate small stimulus package of about $ 25 billion and that he provides the necessary support to airlines, and this came hours after he tweeted to him last Tuesday on Twitter, “He instructed my representatives to stop negotiations until after the elections. When, as soon as I win, we're going to pass a major stimulus bill focusing on hardworking Americans and small businesses. "

Technical analysis

The price of gold opened today with a strong rise to breach the level of 1901.80 and start attacking the pivotal resistance that is now at 1911.00, which stops the negative scenario suggested in our recent reports and leads the price to turn higher, on its way to achieve more gains that reach 1934.86 as a next major station.

Thus, the bullish bias will be likely for today, supported by the move above the EMA 50, bearing in mind that the continuation of the bullish wave requires stability above 1901.80, as breaking this level will put the price under negative pressure again, heading towards visiting levels of 1882.00 then 1860.90 as major stations deification.

The expected trading range for today is between 1890.00 support and 1935.00 resistance.

The expected general trend for today: Bullish.

The US dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement of the second session from its high since September 14 against the Japanese yen after the developments and economic data that they followed on the Japanese economy and on the cusp of developments and economic data expected today, Friday, by the US economy. Economy in the world.

At 07:11 AM GMT, the US dollar against the Japanese yen decreased by 0.10% to 105.92 levels compared to the opening levels at 106.03, after the pair achieved its lowest level during the session's trading at 105.81, while the pair achieved its highest at 106.04.

We have followed up on the Japanese economy, the release of the annual household spending index reading, which showed a contraction of the decline to 6.9%, compared to 6.9% last July, contrary to expectations that indicated a contraction of the decline to 6.6%. This came in conjunction with the annual average income reading showed that the decline decreased to 1.3% compared to 1.5%, which was revised from a 1.3% decline in July, also worse than expectations that indicated a decrease in the decline to 1.2%.

On the other hand, investors are currently awaiting the US economy the release of the final reading of the wholesale inventories index, which may confirm an increase of 0.5%, unchanged from the previous initial reading for the month of August and against a decline of 0.3% last July. Otherwise, attention is drawn to Markets for any developments regarding the chances of reaching a second stimulus package by the Republicans and Democrats of US policy in the shadow of the tension and attraction between them.

Technical analysis

The dollar against the yen pair starts today's trading with a bearish tendency to move below 106.00, affected by the negativity of the stochastic indicator, which is getting rid of its negative momentum to approach the oversold areas now, while the MA 50 continues to provide positive support for the price.

Thus, these factors encourage us to continue suggesting the bullish trend for the upcoming period, which targets 106.44 as a first stop, reminding you of the importance of holding above 105.20 to continue the suggested rise.

The expected trading range for today is between 105.20 support and 106.60 resistance.

The expected general trend for today: Bullish.

Share continues with the sideways movement, as the price is testing the 340.85 resistance after it tested the support level of 330.70 to the downside and reached the support level near the 50 SMA. Which is moving near the major support at 330.50.

The stochastic oscillator is on a downward path, and this coincides with the price test of the support level and the 20-50 moving averages

The expected trading range is between 301.40 support and 350.50 resistance

The expected general trend for today: Bullish.

AUDJPY

The 76.16 resistance level is holding back buyers. The ascending H8 level pattern is currently truncated, while the internal H1 level pattern is also truncated. Awesome Oscillator indicates a bearish divergence, while Stochastic Oscillator (30.10.10.) signals an overbought condition.

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

Trading recommendations:

Sell a descending wave pattern is formed, where wave (A) breaks through the pivot 2 of wave the C.

Stop Loss: 76.16.

Target levels: 74.95; 74.02.

USDCAD

The pair is trading below 1.3200 as the US dollar weakens, new economic data is released in Canada, and crude oil prices have been rising over the recent days.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold zone and moves horizontally. Stoch are also in this oversold zone.

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

Trading recommendations:

The pair may correct up to 1.3200. If it fixes below this level, it will continue to drop to 1.3140.

#MSFT

The overall trend is upward. The stock is trading in the range of 365 and 135 moving averages. Awesome Oscillator indicates a bullish divergence. A breakout of 211.20 will result in the formation of an ascending wave pattern within the overall uptrend.

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

Trading recommendations:

Buy above 211.20.

Stop Loss: 204.80.

Target levels: 214.00 (close ½ and move to breakeven); 230.0.

Thursday, October 8th, today’s news—France's economy recovered 16% in the Q3. European and American markets rise amid stimulus hopes in the US, Dow futures are up 150 points, dollar is weaker as the risk appetite rises. The price of Brent oil is $42.70, WTI—$40.56, EUR/USD is at 1.1764, GBP/USD—1.2957, gold is $1,896.70 per ounce.

#BA

A descending (red) pattern is truncated. Awesome Oscillator indicates a bullish divergence. A descending pattern ended with the breakout of an inclined channel. A breakout of 175.0 will result in the formation of 1-2-3 (an ascending pattern).

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

Trading recommendations:

Buy above 175.00.

Stop Loss: 143.00.

Target levels: 207.00; 233.00.