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The Australian dollar against the US dollar is fluctuating around the moving average 50, which constitutes a good intraday resistance against the price, noting that the stochastic oscillator is now crossing negatively, which supports the chances of resuming the expected bearish trend for the upcoming period, whose next target is at 0.6964.

Thus, we will maintain our bearish expectations unless the 0.7190 level is breached and holding with a daily close above it.

The expected trading range for today is between 0.7050 support and 0.7190 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 trading stabilized below the moving averages, which are pressuring the price for further decline, which supports expectations for further decline in the upcoming sessions, provided that the stability is below the 50-20 averages, which form resistance levels.

The expected trading range is between 37.50 support and 42.20 resistance.

The expected general trend for today: Bearish.

Futures contracts for gold prices fluctuated in a narrow range that tends to decline, to witness its rebound to the second session in three sessions from its highest since September 21, overlooking the bounce of the US dollar index for the seventh session in ten sessions from its high since July 24 according to the inverse relationship Between them on the cusp of developments and expected economic data today, Thursday, by the US economy, and amid renewed optimism about the opportunities for US lawmakers to reach an agreement on additional stimulus to support the largest economy in the world in the face of the repercussions of the Corona pandemic.

At exactly 04:02 a.m. GMT, gold futures contracts for December delivery fell 0.12% to trade at $ 1,888.30 an ounce, compared to the opening at $ 1,890.60 an ounce, knowing that the contracts started the session on a downward price gap after it was concluded Yesterday's trading was at $ 1,890.80 an ounce, while the US dollar index declined 0.03% to 93.58 compared to the opening at 93.62.

Investors are currently waiting for the US economy to see the release of the aid claims index reading for last week on the third of this month, which may reflect a decline of 17,000 requests to 820,000 requests compared to 835,000 requests in the previous weekly reading, and the reading of the continuing aid requests for last week may also appear. As of September 26, a decrease of 367 thousand applications reached 11.4 million, compared to 11,767 thousand applications.

This comes hours after the Federal Reserve unveiled the minutes of the Federal Open Market Committee meeting held on September 15-16, in which monetary policymakers at the Federal Reserve Bank at the time kept short-term reference interest rates at zero levels between zero and 0. 25% for the fourth consecutive meeting.

The minutes of the Federal Reserve meeting stated that the majority of members noticed the recovery of US economic activity at a faster rate than expected during the past few months compared to the second quarter, and it is noteworthy that the Federal Reserve had previously adopted several stimulus programs until the economy showed signs of recovery, on top of which is the 80 Treasury bond purchase program. $ 1 billion per month and mortgage bonds at least $ 40 per month.

The minutes also included the members of the Federal Reserve’s expectations of growth rates, inflation and unemployment, in addition to the future interest rates for the next three years that were revealed last month after the end of the meeting following the press conference held by Federal Reserve Governor Jerome Powell at the time in which he expressed his expectations of survival. The leader is at zero levels until late 2023.

It is noteworthy that Fed Governor Powell, who called last Tuesday for the continuation of strong financial and monetary stimulus for the sake of the economic recovery, who declared that "there is a long way to go", stressed in his press conference last month to comment on the decisions and directions of the Federal Committee at the time, the importance of The fiscal stimulus policy to support the economy, as it affirmed the Fed’s commitment to using all its tools to support the recovery.

Other than that, we followed yesterday US President Donald Trump expressed that he will 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 his tweet last Tuesday on Twitter, "He instructed my representatives to stop negotiating until what After the election 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 has shown sideways trading since yesterday, settling below the SMA 50, which constitutes continuous negative pressure in front of the price, which supports the continuation of our expectations for the downside move for the upcoming period, targeting 1860.80 as the next major station.

Therefore, we expect to witness negative trading today, supported by the gradual loss of positive momentum by Stochastic, bearing in mind that breaching 1901.80 then 1915.00 will stop the suggested decline and push the price to turn higher.

The expected trading range for today is between 1860.00 support and 1900.00 resistance.

The expected general trend for today: Bearish.

USDCAD

The pair is trading above the strong support level of 1.3245 amid the rising crude oil prices and expectations of a new peacemeal stimulus package in the US, which weakens the US dollar.

Technical side:

The price is located below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is gradually declining. Stoch are in the oversold zone.

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

Trading recommendations:

If the price goes below 1.3245, it will drop further to 1.3200.

EURUSD

The ascending M30 level pattern is currently truncated. An extended bearish divergence is likely to form (a double top pattern confirmed by a bearish divergence). Stochastic Oscillator indicates an overbought condition.

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

Trading recommendations:

Sell when a descending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the ascending truncated M30 level pattern.
Stop Loss: 1.1801.

Target levels: 1.1725; 1.1680.

Trading ideas for Boeing Co. (NYSE) 08.10.2020

Wednesday, October 7th, today’s news—Trump postpones stimulus talks until after the election. Markets reacted with a decline, quickly followed by a recovery amid the rising popularity of the Democratic candidate Joe Biden, and the expectations of a massive stimulus package in case of his victory. The price of Brent oil is $39.84, WTI—$39.81, EUR/USD is at 1.1763, GBP/USD—1.2989, gold is $1,892.95 per ounce.

The Australian dollar against the US dollar succeeded in achieving our first awaited target at 0.7100 and stabilizes near it, waiting for further decline to surpass this level and pave the way for our next target that extends to 0.6964.

Consequently, the bearish trend scenario will remain valid and effective for the upcoming period, unless the price rallies to breach 0.7190 and stabilize above it.

The expected trading range for today is between 0.7050 support and 0.7170 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, to witness its rebound from its lowest since September 28, overlooking the bounce of the US dollar index for the second session from its lowest since the 21st of the same month according to the inverse relationship between them on the cusp of economic developments and data Expected Wednesday by the US economy, the largest economy in the world, which includes the speech of members of the Federal Open Market Committee.

At 04:22 a.m. GMT, gold futures contracts for next December delivery rose 0.25% to trade at $ 1,887.30 an ounce compared to the opening at $ 1,882.60 an ounce, knowing that the contracts started the session on a downward price gap after it was concluded Yesterday's trading was at $ 1,908.80 per ounce, while the US dollar index rose 0.02% to 93.84, compared to the opening at 93.82.

This is anticipating investors from the US economy for what will be revealed by a member of the Federal Open Market Committee and the President of the Minneapolis Federal Reserve, Neil Kashkari, about racism and the economy in a hypothetical series of events, and this comes before the Fed disclosed the minutes of the Federal Open Market Committee meeting held on 15 - 16 September, during which interest rates were kept between zero and 0.25%.

In the same context, the Federal Reserve revealed at the time the expectations of members of the Federal Commission for growth rates, inflation and unemployment in addition to the future of interest rates for the next three years, and it is mentioned that the Federal Reserve had previously adopted several stimulus programs until the economy showed signs of recovery, on top of which is the bond-buying program. Treasury at $ 80 billion a month and mortgage bonds at least $ 40 a month.

We also followed the press conference held by Federal Reserve Governor Jerome Powell after the end of the meeting to comment on the decisions and directions of the committee, which included expectations to remain the leader at zero levels until late 2023, in which he expressed the importance of the fiscal stimulus policy to support the economy, amid his assertion of commitment The Federal Reserve is using all its tools to support the recovery.

All the way to the talk of a member of the Federal Open Market Committee and the President of the New York Federal Reserve, John Williams, about targeting the average flexible inflation at an online event hosted by the Hoover Economic Policy Group, and this comes hours after Fed Governor Powell's call on Tuesday for continued strong fiscal and monetary stimulus For the sake of the economic recovery that he declared "there is a long way to go".

Other than that, we followed yesterday the expression of US President Donald Trump, by tweeting to him on his official Twitter account, "He has instructed my representatives to stop negotiating until after the elections when, as soon as I win, we will pass a major stimulus bill focusing on hardworking Americans and small businesses." Observers considered this a gamble by Trump before the upcoming US presidential elections on November 3.

Technical analysis

Gold price faced strong negative pressure yesterday to break 1901.80 and achieve our first expected negative target at 1877.00, which supports the continuation of the expected bearish trend scenario in the intraday and short term, waiting for more decline to visit 1860.80, which represents our next target.

Consequently, we will continue suggesting the downside trend for the upcoming period supported by the move below the EMA50, noting that the continuation of the expected decline depends on stability below 1901.80, and most importantly below 1915.00.

The expected trading range for today is between 1860.00 support and 1900.00 resistance.

The expected general trend for today: Bearish.

The US dollar fluctuated in a narrow range that tends to rise during the Asian session, to witness its rebound for the second session in four sessions from its lowest since September 23 against the Japanese yen, following developments and economic data that they followed on the Japanese economy, which included the speech of the Governor of the Bank of Japan Haruhiko Kuroda and on The cusp of economic developments and data expected today, Wednesday, by the US economy, the largest economy in the world, which includes speeches by members of the Federal Open Market Committee.

At 06:50 am GMT, the US dollar against the Japanese yen rose by 0.10% to 105.74 levels compared to the opening levels at 105.64, after the pair achieved its highest level during the session's trading at 105.76, while the pair achieved its lowest level at 105.61.

We also watched, as Bank of Japan Governor Haruhiko Kuroda gave a speech via satellite under the title "Covid-19 and the Global Economy: Impact and Challenges" at the annual meeting of the National Association of Business Economics, and this came before we also witnessed by the Japanese economy the disclosure of the preliminary reading of the leading indicators which It showed that growth accelerated to a value of 88.8 compared to 86.7 in July, contrary to expectations, which indicated an expansion to 89.2.

On the other hand, the US economy awaits the markets, a member of the Federal Open Market Committee and the President of the Minneapolis Federal Reserve, Neil Kashkari, about racism and the economy in a hypothetical series of events, and this comes before the Fed unveiled the minutes of the Federal Open Market Committee meeting held on 15 - September 16th, during which interest rates were kept between zero and 0.25%.

In the same context, the Federal Reserve revealed at the time the expectations of members of the Federal Commission for growth rates, inflation and unemployment in addition to the future of interest rates for the next three years, and it is mentioned that the Federal Reserve had previously adopted several stimulus programs until the economy showed signs of recovery, on top of which is the bond-buying program. Treasury at $ 80 billion a month and mortgage bonds at least $ 40 a month.

We also followed the press conference held by Federal Reserve Governor Jerome Powell after the end of the meeting to comment on the decisions and directions of the committee, which included expectations to remain the leader at zero levels until late 2023, in which he expressed the importance of the fiscal stimulus policy to support the economy, amid his assertion of commitment The Federal Reserve is using all its tools to support the recovery.

All the way to the talk of a member of the Federal Open Market Committee and the President of the New York Federal Reserve, John Williams, about targeting the average flexible inflation at an online event hosted by the Hoover Economic Policy Group, and this comes hours after Fed Governor Powell's call on Tuesday for continued strong fiscal and monetary stimulus For the sake of the economic recovery that he declared "there is a long way to go".

Technical analysis

The dollar versus yen pair did not show any strong movement in the past sessions, and continues to fluctuate around the EMA50, which keeps our bullish expectations valid unchanged, which target a test of 106.44 initially, reminding you of the importance of holding above 105.20 for the continuation of the suggested rise.

The expected trading range for today is between 105.00 support and 106.30 resistance.

The expected general trend for today: Bullish.

The stock of the week's trading opened with a big gap, as the price breached the lower bound of the ascending channel it was moving within 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 downside path, although the price is moving away from the averages, so we could see a bullish correction to the 7 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.

General direction of movement: Bullish path.