Analytic reviews

#CI

The support level of 171.00 is holding back sellers. A descending truncated pattern has formed. A bullish divergence has formed on Awesome Oscillator. A breakout of the resistance level of 185.24 will result in the formation of an ascending wave pattern.

Trading recommendations:

Buy above 185.24.

Stop Loss: 171.00.

The target is 215.56.

AUDUSD

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition.

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

Trading recommendations:

Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending pattern.

Stop Loss under the local minimum.

Target levels: 0.7340; 0.7412.

EURUSD

Today, the market is focused on the US employment data. If the number of new jobs is higher than predicted, the pair may be supported as the demand for risk assets grows. At the same time, negative figures may put pressure on the pair, but it will be limited due to the fundamental weakness of the US currency.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is turning down. Stoch are also turning downwards.

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

Trading recommendations:
If the price drops below 1.1835, it will go further down to 1.1795. Meanwhile, in case of positive data, the pair will likely grow to 1.1900.

Thursday, September 3rd, today’s news—European shares hit one month-high on the positive US data, ahead of new retail sales and service sector figures. France plans to spend 100 billion euros on a new stimulus package, the dollar is stronger, American markets are quiet following the growth. The price of Brent oil is $43.72, WTI—$40.84. EUR/USD is at 1.1823, GBP/USD—1.3300, gold is $1,941.55 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

USDCHF analysis

The overall trend is downward. A bearish divergence is forming on Awesome Oscillator, and Stochastic Oscillator showed an exit from the overbought zone. Keep track of the price in real time.

Trading recommendations: buy when a 1-2-3 downtrend pattern is formed, where wave 1 breaks the inclined channel of the downward pattern.

See more Start trading

EURUSD technical analysis

The pair remains within the “rising flag” pattern for now. It is likely to test 1.1790. One negative factor is the weak new jobs data from ADP, another is the low inflation, which may force the ECB to come up with something new to stimulate the growth of inflation and support the region’s economy. Keep track of the price in real time.

Trading recommendations: the pair will test 1.1790. If it goes below this level, it will continue to drop to 1.1700–05. If the price remains above 1.1790, it will reverse locally and go up to 1.1900, and then to 1.1990 and 1.2000.

See more Start trading

Trading ideas for PJSC Magnitogorsk Iron and Steel Works

The “long-legged doji” candlestick pattern has formed on the H4 level timeframe from the support level of 37.30. This candlestick pattern points at a likely reversal. Stochastic Oscillator indicates an oversold position, and Awesome Oscillator shows a bullish divergence. Keep track of the price in real time.

Trading recommendations: buy when an ascending pattern 1-2-3 is formed, where wave 1 breaks through an inclined channel.

See more Start trading

^{*Trading recommendations offered by analysts do not constitute a solicitation. Before starting to trade on currency exchange markets, please make sure that you understand the risks connected with the use of leverage and that you have sufficient level of training.}

Cisco share continues moving around the support level of 42.14 after the bearish price gap that was previously formed. Where the stock fell very strongly and surpassed several support levels.

Trading stabilized below the moving averages, 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 38.32 support and 445.20 resistance

The expected overall trend for today: Neutral

The single currency, the euro, fluctuated in a narrow range that tends to decline during the Asian session, to witness its rebound for the third consecutive session from its highest since May 2 of 2018 against the US dollar on the cusp of developments and economic data expected today, Thursday, by the economies of the euro area and the US economy. Economy in the world.

At exactly 06:08 AM GMT, the euro pair fell against the US dollar by 0.40% to 1.1807 levels, compared to the opening levels at 1.1855, after the pair achieved its lowest level during the session's trading at 1.1805, while it achieved its highest at 1.1855.

The markets are currently looking for Spain, the fourth-largest economy in the eurozone, to unveil the service PMI reading, which may show a contraction to 48.0, compared to an expansion of 51.9 in July, and this comes before we see Italy, the third-largest economy in the region, the release of a reading. The managers index itself, which may also reflect a contraction to a value of 49.4, compared to an expansion of 51.6 in July.

This comes before we witness about France, the second-largest economy in the euro area, the disclosure of the final reading of the services PMI index, which may show the stability of the expansion at 51.9, unchanged from the initial reading for the past month, and against a widening at 57.3 in July, before we witness the reading. The final index of the same index for Germany, the largest economy in the region, also stabilized the breadth at 50.8, unchanged from the initial reading, and compared to a widening at 55.6.

Up to the release of the final reading of the service purchasing managers' index for the economies of the euro area as a whole, which may reflect the stability of the expansion at 50.1, unchanged from the initial reading for the past month and compared to a widening at 54.7 in July, before the retail sales index reading also revealed for the region’s economies as a whole. It reflects a slowdown in growth to 1.3%, compared to 5.7% last June.

On the other hand, investors are currently awaiting the American economy to unveil the final reading of the productivity index and the cost of one work, and it is expected that the reading of the productivity index will show stability of growth at 7.3%, with little change from the preliminary reading for the second quarter, compared to a contraction of 0.9% in the previous reading of the first quarter. While the cost index reading may indicate a slowdown in growth to 12.0% compared to a growth of 12.2% in the preliminary reading and compared to a growth of 5.1% in the first quarter.

This comes in conjunction with the release of the aid requests index reading for the past week on August 29th, which may reflect a decline of 51 thousand applications to 955 thousand applications compared to 1,006 thousand applications in the previous weekly reading. Also, the reading of continuous aid requests for last week may appear on the 22nd of August. Last month, a decrease of 535 thousand requests to 14 million requests compared to 14,535 thousand requests in the previous weekly reading.

This also comes in conjunction with the release of the merchandise trade balance reading, which may explain the widening of the deficit to a value of $ 58.2 billion, compared to $ 50.7 billion in June, leading to the disclosure of the final reading of the Institute for Service Provision Index by Markit from the United States, which may reflect the stability of The breadth was at 54.8, unchanged from what it was in the preliminary reading for the past month, and widening at 50.0 in July.

Up to uncovering the index reading of the Service Provisioning Institute, whose importance lies in the fact that the service sector represents more than two-thirds of the GDP of the United States, which may explain the contraction of the expansion to a value of 57.0 compared to 58.1 in July, and it is mentioned that the US economy reversed worse in the second quarter. His performance since the Great Depression in the 1930s due to the Corona pandemic and recently reflects signs of recovery and that the worst is over.

Technical analysis

The EUR / USD pair stabilized trading below 1.1860, causing the price to fall under more negative pressure, which we expect to head towards testing the main ascending channel around 1.1765 before attempting to return to resume the main bullish trend again.

Therefore, the bearish tendency will be likely for today, with the necessity to monitor the price behavior upon reaching the target level, as its steadfastness in front of the negative pressure will lead the price to retrace to the upside and resume the main bullish wave and achieve positive targets starting at 1.2005, while breaking it will exit the price from the ascending channel and push for more action. From the bearish correction in the intraday and short term.

On the other hand, we should note that breaching 1.1860 then 1.1916 will stop the current negative pressure and push the price to resume the rise without the need to visit the upside channel support.

The expected trading range for today is between 1.1760 support and 1.1890 resistance.

The expected general trend for today: Temporarily bearish.

Futures contracts for gold prices fluctuated in a narrow range slanting to rise during the Asian session, overlooking the rebound of the US dollar index for the third consecutive session from its lowest since late April of 2018 according to the inverse relationship between them on the cusp of developments and economic data expected today, Thursday, by the economy The US is the largest economy in the world.

At exactly 4:58 a.m. GMT, gold futures contracts for December delivery rose 0.11% to trade at $ 1,951.00 per ounce compared to the opening at $ 1,948.90 per ounce, knowing that the contracts started the session on a rising price gap after it concluded Yesterday's trading was at $ 1,944.70 per ounce, while the US dollar index rose 0.20% to 92.84 compared to the opening at 92.66.

Investors are currently awaiting the American economy to reveal the final reading of the productivity index and the cost of one work, and it is expected that the reading of the productivity index will show stability of growth at 7.3%, with little change from the preliminary reading for the second quarter, compared to a contraction of 0.9% in the previous reading for the first quarter, while The cost index reading shows slowing growth to 12.0% compared to 12.2% growth in the preliminary reading and versus 5.1% growth in the first quarter.

This comes in conjunction with the release of the aid requests index reading for the past week on August 29th, which may reflect a decline of 51 thousand applications to 955 thousand applications compared to 1,006 thousand applications in the previous weekly reading. Also, the reading of continuous aid requests for last week may appear on the 22nd of August. Last month, a decrease of 535 thousand requests to 14 million requests compared to 14,535 thousand requests in the previous weekly reading.

This also comes in conjunction with the release of the merchandise trade balance reading, which may explain the widening of the deficit to a value of $ 58.2 billion compared to $ 50.7 billion in June, and before the release of the final reading of the Institute for Service Provisioning Index by Markit from the United States, which may reflect the stability of the expansion at A value of 54.8, unchanged from what it was in the preliminary reading for the past month, and compared to a widening of 50.0 in July.

Up to uncovering the index reading of the Service Provisioning Institute, whose importance lies in the fact that the service sector represents more than two-thirds of the GDP of the United States, which may explain the contraction of the expansion to a value of 57.0 compared to 58.1 in July, and it is mentioned that the US economy reversed worse in the second quarter. His performance since the Great Depression in the 1930s due to the Corona pandemic and recently reflects signs of recovery and that the worst is over.

Technical analysis

Gold price touched 1934.86 and built a base on it to start rebounding upwards from there, which supports the chances of the trend to resume the main bullish trend, as the price moves within a main ascending channel that has positive targets surpassing the recently recorded peak at 2074.87.

Thus, a bullish bias will be expected for today, and nearby targets start by surpassing 1967.90 to open the way to heading towards 2008.80, bearing in mind that breaching 1934.86 will stop the expected rise and pressurize the price for more bearish correction in the intraday and short term.

The expected trading range for today is between 1930.00 support and 1980.00 resistance.

The expected general trend for today: Bullish.

The US dollar fluctuated in a narrow range slanting to an upside during the Asian session, to witness its retracement to the fifth session from its lowest since August 19 against the Japanese yen amid scarce economic data by the Japanese economy and on the cusp of economic developments and data expected today, Thursday, by the US economy, the largest economy. In the world.

At 06:50 am GMT, the US dollar against the Japanese yen rose by 0.14% to 106.33 levels compared to the opening levels at 106.18, after the pair achieved its highest level during the session's trading at 106.34, while it reached its lowest level at 106.14.

Investors are currently awaiting the American economy to reveal the final reading of the productivity index and the cost of one work, and it is expected that the reading of the productivity index will show a stability of growth at 7.3%, with little change from the preliminary reading for the second quarter, compared to a contraction of 0.9% in the previous reading for the first quarter, while The cost index reading shows slowing growth to 12.0% compared to 12.2% growth in the preliminary reading and versus 5.1% growth in the first quarter.

This comes in conjunction with the release of the aid requests index reading for the past week on August 29th, which may reflect a decline of 51 thousand applications to 955 thousand applications compared to 1,006 thousand applications in the previous weekly reading. Also, the reading of continuous aid requests for last week may appear on the 22nd of August. Last month, a decrease of 535 thousand requests to 14 million requests compared to 14,535 thousand requests in the previous weekly reading.

This also comes in conjunction with the release of the merchandise trade balance reading, which may explain the widening of the deficit to a value of $ 58.2 billion compared to $ 50.7 billion in June, and before the release of the final reading of the Institute for Service Provisioning Index by Markit from the United States, which may reflect the stability of the expansion at A value of 54.8, unchanged from what it was in the preliminary reading for the past month, and compared to a widening of 50.0 in July.

Up to uncovering the index reading of the Service Provisioning Institute, whose importance lies in the fact that the service sector represents more than two-thirds of the GDP of the United States, which may explain the contraction of the expansion to a value of 57.0 compared to 58.1 in July, and it is mentioned that the US economy reversed worse in the second quarter. His performance since the Great Depression in the 1930s due to the Corona pandemic and recently reflects signs of recovery and that the worst is over.

Technical analysis

The dollar against the yen is hovering around the main resistance line that appears in the above chart, and the stochastic indicator continues to provide negative signals, to support the chances of resuming the expected bearish trend in the intraday and short term, whose main targets begin with testing 105.20, reminding you of the importance of holding below 106.44 to continue the decline The proposed.

The expected trading range for today is between 105.40 support and 106.60 resistance

The expected general trend for today: Bearish

#MAGN

The “long-legged doji” candlestick pattern has formed on the H4 level timeframe from the support level of 37.30. This candlestick pattern points at a likely reversal. Stochastic Oscillator indicates an oversold position, and Awesome Oscillator shows a bullish divergence.

Trading recommendations:

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

Stop under the support level of 37.30.

Target levels: 40.44; 43.20.

EURUSD

The pair remains within the “rising flag” pattern for now. It is likely to test 1.1790. One negative factor is the weak new jobs data from ADP, another is the low inflation, which may force the ECB to come up with something new to stimulate the growth of inflation and support the region’s economy.

Technical side:

The price is on the lower Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. Stoch are in the oversold zone and are turning down again.

Trading recommendations:

The pair will test 1.1790. If it goes below this level, it will continue to drop to 1.1700–05. If the price remains above 1.1790, it will reverse locally and go up to 1.1900, and then to 1.1990 and 1.2000.