Analytic reviews

EURUSD

The pair found support at 1.1830 in anticipation of the Fed’s monetary policy decision. No changes are expected in the policy of the Federal Reserve or in the rhetoric of its head Jerome Powell, which means the dollar is likely to continue to fall.

Technical picture:

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is below the 50% level and is turning up. Stoch are turning in the oversold zone.

EURUSD rate online: monitor the pair's movement in real time.

Trading recommendations:

Buy the pair after it goes above 1.1860 with a likely further rise to 1.1915.

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The overall trend is upward. The 262.0 support level is holding back sellers. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator shows an exit from the oversold zone. A breakout of the resistance level of 276.67 will result in the formation of an upward wave pattern within the general uptrend.

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Trading recommendations:

Buy when an ascending wave pattern is formed, at the breakout of 276.67.

Stop Loss at the local minimum (262.00).

Target levels: 291.86; 303.34.

NZDJPY

The ascending H2 level pattern is truncated. Awesome Oscillator indicates a bearish divergence. The inclined channel protecting the pattern is broken by the assumed wave (aC H1). A breakout of the top (C) will result in the formation of a descending wave pattern.

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

Trading recommendations:

Sell below 70.56.

Stop Loss: 71.22.

Target levels: 70.00; 69.08.

Tuesday, September 15th, today’s news—job losses in the UK hit 700,000, unemployment rises despite the lifted lockdown. European markets are mixed ahead of the Fed meeting, the dollar and oil are falling, Asian and American markets rise. The price of Brent oil is $39.88, WTI—$37.52. EUR/USD is at 1.1883 GBP/USD—1.2888, gold is $1,973.75 per ounce.

#EDF

The support level of 8.047 is holding back sellers. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator shows an exit from the oversold zone. A breakout of the resistance level of 8.60 will result in the formation of a 1-2-3 ascending pattern.

Trading recommendations:

Buy above 8.60.

Stop Loss: 8.047.

Target levels: 9.14; 9.56.

The Australian dollar fluctuated in a narrow range that tends to rise during the Asian session, to witness its retracement to the fourth session in five sessions from the lowest since August 26 against the US dollar after the economic developments and data that we followed on the Australian economy and before the economic developments and data expected today, Tuesday, by the economy. The US is the largest economy in the world.

At exactly 04:09 GMT, the Australian dollar against the US dollar rose 0.33% to 0.7312 levels compared to opening levels at 0.7288, after the pair achieved its highest level during the session's trading at 0.7315, while the lowest level is at 0.7267.

And we continued, the Australian Central Bank revealed the minutes of its last meeting held at the beginning of this month, during which the interest rates for the sixth meeting in a row were fixed at the lowest ever at 0.25%, and monetary policymakers at the Reserve Bank of Australia, through the minutes, touched on the fact that the Australian dollar fell It would provide more help for the economic recovery.

This came in conjunction with the disclosure of housing market data for Australia with the release of the home price index reading for the second quarter, which showed a 1.8% decline compared to a 1.6% rise in the first quarter last quarter, worse than expectations that indicated a 1.3% decline, while the annual reading of the same index indicated a slowdown in the pace of growth. To 6.2%, compared to 7.4% in the first quarter.

On the other hand, investors are currently awaiting the American economy for the release of the import price index reading, which may indicate a slowdown in the pace of growth to 0.5% compared to 0.7% in the previous reading for the month of July, while the annual reading of the index itself may reflect a contraction of the decline to 1.0% compared to 3.3%, and this comes in conjunction with the release of the New York Industrial Index, which may reflect an expansion to a value of 6.2%, compared to 3.7 in August.

This comes before we witness by the largest industrial country in the world the disclosure of industrial sector data with the release of the Industrial Production Index, which may reflect a slowdown in the pace of growth to 1.2% compared to 3.0% in the previous reading for July, while the reading of the utilization rate index may clarify Energy growth accelerated, to 71.7%, from 70.6% in July.

Up to the start of the meeting of the Federal Open Market Committee September 15-16 via satellite in Washington, during which the short-term reference rates for the fifth meeting in a row are expected to remain at between zero and 0.25%, and to reveal the expectations of the members of the committee Federal Reserve rates of growth, inflation and unemployment in addition to the future of interest rates for the next three years.

This comes before we witness tomorrow the press conference of Fed Governor Jerome Powell, which he will hold half an hour after the end of the meeting to comment on the decisions of the committee that previously adopted many stimulus programs to support the economy in the face of the repercussions of the Corona pandemic, and it is mentioned that Powell stated on the sidelines of the Jackson meetings Hall has adopted the Federal Reserve's new inflation policy, targeting average inflation 2% above for some time.

Technical analysis

The Australian dollar versus the US dollar cohered well above the support of the ascending channel that appears on the image, to start today with a bullish tendency in an attempt to move away from the aforementioned support, which provides signs of the price direction to resume the main bullish trend, on its way to test the recently recorded peak at 0.7413 initially.

Thus, a bullish bias will be suggested for today, noting that a break of 0.7260 will stop the expected rise and press the price to decline again.

The expected trading range for today is between 0.7260 support and 0.7380 resistance.

The expected general trend for today: Bullish.

The single currency, the euro, fluctuated in a narrow, upward range, during the Asian session, to witness its rebound for the fifth consecutive session from the lowest since August 12 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 Which includes the start of the meeting of the Federal Open Market Committee in Washington.

At 06:39 AM GMT, the euro pair rose against the US dollar by 0.24% to 1.1894 levels, compared to the opening levels at 1.1866, after the pair achieved its highest level during the session's trading at 1.1899, while it reached its lowest level at 1.1859.

The markets are looking for France, the second largest economy in the euro area, to reveal inflation data, with the release of the final reading of the consumer price index, which may confirm a contraction of 0.1% during August and compared to a growth of 0.4% in July, and this comes before we see a bigger Germany. Eurozone economies and the economies of the region as a whole revealed a reading of the ZEW Economic Sentiment Index, which may show a contraction of the expansion to the value of 69.7 and 63.0, compared to 71.5 and 64.0 in July.

On the other hand, investors are currently awaiting the American economy for the release of the import price index reading, which may indicate a slowdown in the pace of growth to 0.5% compared to 0.7% in the previous reading for July, while the annual reading of the same index may reflect a contraction of the decline to 1.0% compared to 3.3. This comes in conjunction with the release of the New York industrial index, which may reflect an expansion of 6.2%, compared to 3.7 in August.

This comes before we witness by the largest industrial country in the world the disclosure of industrial sector data with the release of the Industrial Production Index, which may reflect a slowdown in the pace of growth to 1.2% compared to 3.0% in the previous reading for July, while the reading of the utilization rate index may clarify Energy growth accelerated, to 71.7%, from 70.6% in July.

Up to the start of the meeting of the Federal Open Market Committee September 15-16 via satellite, during which the short-term reference rates for the fifth meeting in a row are expected to remain at between zero and 0.25%, and to reveal the expectations of the members of the Federal Commission for rates Growth, inflation and unemployment as well as the future of interest rates for the next three years.

This comes before we witness tomorrow the press conference of Fed Governor Jerome Powell, which he will hold half an hour after the end of the meeting to comment on the decisions of the committee that previously adopted many stimulus programs to support the economy in the face of the repercussions of the Corona pandemic, and it is mentioned that Powell stated on the sidelines of the Jackson meetings Hall has adopted the Federal Reserve's new inflation policy, targeting average inflation 2% above for some time.

Technical analysis

The EURUSD pair ended yesterday's trading positively, and starts today with an additional rise to move above the main ascending channel's support, which supports the chances of resuming the main bullish trend and stopping the bearish corrective scenario suggested in our recent reports, on its way to achieving positive targets that start at 1.2011 mainly.

Thus, the bullish bias will be likely during the upcoming sessions, and a breach of 1.1917 will facilitate the price's task in achieving the awaited targets, bearing in mind that the continuation of the bullish wave requires stability above 1.1840.

The expected trading range for today is between 1.1800 support and 1.1980 resistance.

The expected general trend for today: Bullish.

CADCHF

The overall trend is upward. The 0.6876 support level is holding back sellers. A descending truncated pattern has formed. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator signals an oversold condition.

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

Trading recommendations:

Buy when an ascending wave pattern is formed.

Stop Loss below the support level of 0.6876.

Target levels: 0.6942; 0.7000.

EURUSD

The pair corrected down after reaching 1.1900. It will continue to grow as the Fed is expected to continue with the soft monetary policy.

Technical side:

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the 50% level and is growing slightly. Stoch are not informative.

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

Trading recommendations:

Buy the pair when it goes down, approximately, from the level of 1.1865 with a likely later growth to 1.1915.

Gazprom settled below the support level 186.00, as it continues to move within the descending channel that appears on the chart.

The price is now moving below the 20 to 50 averages that form resistance levels and pressurize it to decline.

While we have major resistance at 202.70 and major support at 158.75.

We see that the stochastic indicator returns to the oversold area and the movement within a bearish path will therefore press the price for further decline.

The price action will be between the support level 158.75 and the resistance level 202.20.

The general direction of the movement is bearish.