Analytic reviews

GBPCAD

The overall trend is upward. The 1.7230 support level is holding back sellers. Awesome Oscillator indicates bullish divergence, while Stochastic Oscillator indicates an exit from the oversold zone. A breakout of 1.7395 will result in the formation of an ascending wave pattern within the overall uptrend.

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

Trading recommendations: 

Buy above 1.7395.

Stop Loss under the support level 1.7230.

Target levels: 1.7520; 1.7665.

#TENCENT (HKEX)

The overall movement is upward. The stock is trading in the range of 365 and 135 moving averages. The price pivot zone of 500.0 is holding back sellers. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals an oversold condition. A breakout of the price pivot zone of 514.3 will result in the formation of a 1-2-3 ascending pattern.

Trading recommendations:

Buy above 514.3.

Stop Loss: 500.0.

Target levels: 529.5; 562.5.

The Australian dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement to the fifth session in six sessions from its highest since February 6, 2019 against the US dollar, following the testimony of Reserve Bank of Australia Governor Philip Lowe before the Standing Committee for the Economy of the Australian House of Representatives and on the cusp of developments And economic data expected on Friday by the US economy, the largest in the world.

At 04:07 GMT, the Australian dollar against the US dollar fell 0.15% to 0.7138 levels compared to opening levels at 0.7149, after the pair achieved its lowest level during the session's trading at 0.7135, while the pair achieved its highest at 0.7154.

We have followed the Australian Central Bank Governor Philip Lowe's opening speech to the Australian House of Representatives Standing Committee for the Economy via satellite, through which he expressed his desire for the Australian dollar to be low to support growth and employment, with his statement that we cannot say that the Australian dollar is above its value. , Its fair value on a large scale.

Lowe also noted before the Economic Standing Committee that it is unlikely to achieve the conditions for raising interest rates for at least three years, and that monetary policy makers at the Australian Central Bank believe that the best course of action is to continue the current package, explaining that monetary policy makers are looking into the possibility of implementing the program. The normal for bond purchases and they did not rule out a separate bond buying program, or even modifications to the mid-March package.

On the other hand, investors are currently awaiting the US economy to unveil a reading of retail sales, which represents about half of consumer spending, which represents more than two-thirds of the United States' GDP, and which may reflect slowing growth to 2.0% compared to 7.5% in June, as may The core reading of the same index shows growth slowed to 1.3%, from 7.3% in June.

This comes in conjunction with the release of the preliminary reading of the single labor cost index, which reflects an acceleration of growth to 6.5% compared to 5.1% in the first quarter, while the preliminary reading of the productivity of non-agricultural sectors may show a 1.5% rise against a 0.9% decline, and before we witness the disclosure of industrial sector data. For the largest industrialized country in the world, with the release of the Industrial Production Index, which may reflect a slowdown in growth to 3.1%, compared to 5.4% in June.

This coincides with the release of the energy utilization rate index reading, which may indicate an acceleration of growth to 70.3% compared to 68.6% in June, leading to the disclosure of the preliminary reading of the University of Michigan Consumer Confidence Index, which may show a contraction of the expansion to a value of 72.0 compared to 72.5 in July. In July, in conjunction with the final reading of the wholesale stocks index showed the decline narrowed to 1.1% from 2.3% in May.

Technical analysis

The Australian dollar against the US dollar is quietly crawling to the downside, gradually moving away from the 50 EMA, to keep the bearish trend scenario valid and effective for the upcoming period, which targets 0.7065 then 0.7000 mainly, with a reminder that the continuation of the expected decline depends on stability below 0.7170.

The expected trading range for today is between 0.7070 support and 0.7180 resistance

The expected general trend for today: Bearish

The single currency, the euro, fluctuated in a narrow range that tends to decline during the Asian session, to witness its rebound to the third session in seven sessions from the lowest since May 15, 2018, against the US dollar on the cusp of economic developments and data expected today, Friday by the economies of the euro area and the US economy, the largest economy In the world.

At exactly 05:17 AM GMT, the euro pair fell against the US dollar by 0.01% to 1.1813 levels, compared to opening levels at 1.1814, after the pair achieved its lowest level during the session's trading at 1.1821, while it achieved its highest at 1.1821.

Markets are looking for France, the second-largest economy in the euro area, to disclose inflation data, with the final reading of the consumer price index, which may confirm a growth of 0.4% in July, compared to a growth of 0.1% last June, and this comes before we are seen by other economies. The region The release of the seasonally adjusted trade balance reading, which may reflect a widening surplus to an amount of 18.0 billion euros, compared to 8.0 billion last May.

This comes in conjunction with the disclosure of the preliminary seasonally adjusted reading of the GDP index for the euro area as a whole, which may reflect the stability of the contraction at 12.1% without change from the first quarter, as the annual reading of the index may indicate the stability of the deflation at 15.5%, and with the preliminary reading of the change in the index. Employment the decline widened to 1.7%, from 0.2% in the first quarter.

On the other hand, investors are currently awaiting the US economy to unveil a reading of retail sales, which represents about half of consumer spending, which represents more than two-thirds of the United States' GDP, and which may reflect slowing growth to 2.0% compared to 7.5% in June, as may The core reading of the same index shows growth slowed to 1.3%, from 7.3% in June.

This comes in conjunction with the release of the preliminary reading of the single labor cost index, which reflects an acceleration of growth to 6.5% compared to 5.1% in the first quarter, while the preliminary reading of the productivity of non-agricultural sectors may show a 1.5% rise against a 0.9% decline, and before we witness the disclosure of industrial sector data. For the largest industrialized country in the world, with the release of the Industrial Production Index, which may reflect a slowdown in growth to 3.1%, compared to 5.4% in June.

This coincides with the release of the energy utilization rate index reading, which may indicate an acceleration of growth to 70.3% compared to 68.6% in June, leading to the disclosure of the preliminary reading of the University of Michigan Consumer Confidence Index, which may show a contraction of the expansion to a value of 72.0 compared to 72.5 in July. Last July, in conjunction with the final reading of the wholesale inventories index showed the decline narrowed to 1.1% from 2.3% in May.

Technical analysis

The euro versus the dollar is trading at the moving average 50 now, and we note that the stochastic indicator has rid of its negative momentum to reach oversold areas, waiting for the price to stimulate the resumption of the main bullish trend, whose next target is at 1.1908.

From here, the bullish trend scenario will remain valid and effective for the coming period, with a reminder that the continuation of the bullish wave depends on stability above 1.1737, as breaking it will pressure the price to make an additional downside correction, whose next target will reach 1.1632.

The expected trading range for today is between 1.1737 support and 1.1908 resistance.

The expected general trend for today: Bullish.

Futures contracts for gold prices fluctuated in a narrow range tending to decline during the Asian session, to witness its rebound to the fourth session in six sessions from its highest ever, and to prepare for the first weekly losses in ten weeks amid the rise of the US dollar index according to the inverse relationship between them following developments and economic data that followed them on The Chinese economy is the largest consumer of minerals in the world and on the cusp of developments and economic data expected on Friday by the US economy, the largest economy in the world.

At 04:39 AM GMT, gold futures contracts for December delivery fell 0.22% to trade at $ 1,959.50 an ounce compared to the opening at $ 1,963.80 an ounce, knowing that the contracts started trading on a downward price gap after it was concluded Yesterday's trading was at $ 1,970.40 per ounce, with the US dollar index rising 0.01% to 93.23 compared to the opening at 93.22.

We have followed up on the disclosure of the National Bureau of Statistics of China on the annual reading of the Industrial Production Index, which showed stable growth at 4.8% in July, in contrast to expectations that indicated an acceleration of growth to 5.1%. While the annual retail sales index showed a contraction of the decline to 1.1% against 1.8% in June, worse than expectations for a 0.1% rise, and the unemployment rate reading showed stability at 5.7%, in line with expectations.

On the other hand, investors are currently awaiting the US economy to unveil a reading of retail sales, which represents about half of consumer spending, which represents more than two-thirds of the United States' GDP, and which may reflect slowing growth to 2.0% compared to 7.5% in June, as may The core reading of the same index shows growth slowed to 1.3%, from 7.3% in June.

This comes in conjunction with the release of the preliminary reading of the single labor cost index, which reflects an acceleration of growth to 6.5% compared to 5.1% in the first quarter, while the preliminary reading of the productivity of non-agricultural sectors may show a 1.5% rise against a 0.9% decline, and before we witness the disclosure of industrial sector data. For the largest industrialized country in the world, with the release of the Industrial Production Index, which may reflect a slowdown in growth to 3.1%, compared to 5.4% in June.

This coincides with the release of the energy utilization rate index reading, which may indicate an acceleration of growth to 70.3% compared to 68.6% in June, leading to the disclosure of the preliminary reading of the University of Michigan Consumer Confidence Index, which may show a contraction of the expansion to a value of 72.0 compared to 72.5 in July. In July, in conjunction with the final reading of the wholesale stocks index showed the decline narrowed to 1.1% from 2.3% in May.

Other than that, the markets are looking forward to the upcoming trade talks between Washington and Beijing tomorrow, Saturday, via satellites, which aim to review the officials of the two largest economies and two industrialized countries in the world, for the implementation of the first phase of their trade agreement, especially after the significant escalation of tensions between Washington and Beijing recently. In conjunction with the start of the countdown to the next US presidential elections, by next November.

Technical analysis

Gold price confirmed the breach of 1934.68 after closing the daily candlestick above it and was able to reach our first awaited positive target at 1967.90, waiting for a positive momentum that will push the price to achieve more gains during the coming period, as breaching the last level represents the key to the rally towards 2008.80 as a positive target next.

From here, we will continue suggesting the bullish trend for the upcoming period, noting that breaking 1934.68 will put the price under negative pressure, whose targets start with testing 1901.80 and may extend to 1860.90 before any new attempt to rise.

The expected trading range for today is between 1920.00 support and 1990.00 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 July 23 against the Japanese yen after the developments and economic data that they followed on the Japanese economy and on the cusp of economic developments and data expected today, Friday, by the US economy The largest economy in the world.

At exactly 07:59 am GMT, the US dollar against the Japanese yen declined by 0.07% to 106.85 levels compared to the opening levels at 106.93 after the pair achieved its lowest level during the session's trading at 106.84, while it achieved its highest at 107.04.

The Japanese economy, the second largest in Asia and the third largest in the world and the third largest industrialized country in the world after both the United States and China, has followed up on the disclosure of industrial sector data, with the release of the Tertiary Industrial Index, which showed an increase of 7.9% compared to a decline of 2.9% in May / Last May, it beat expectations of a 6.4% rise.

On the other hand, investors are currently awaiting the US economy to unveil a reading of retail sales, which represents about half of consumer spending, which represents more than two-thirds of the United States' GDP, and which may reflect slowing growth to 2.0% compared to 7.5% in June, as may The core reading of the same index shows growth slowed to 1.3%, from 7.3% in June.

This comes in conjunction with the release of the preliminary reading of the single labor cost index, which reflects an acceleration of growth to 6.5% compared to 5.1% in the first quarter, while the preliminary reading of the productivity of non-agricultural sectors may show a 1.5% rise against a 0.9% decline, and before we witness the disclosure of industrial sector data. For the largest industrialized country in the world, with the release of the Industrial Production Index, which may reflect a slowdown in growth to 3.1%, compared to 5.4% in June.

This coincides with the release of the energy utilization rate index reading, which may indicate an acceleration of growth to 70.3% compared to 68.6% in June, leading to the disclosure of the preliminary reading of the University of Michigan Consumer Confidence Index, which may show a contraction of the expansion to a value of 72.0 compared to 72.5 in July. In July, in conjunction with the final reading of the wholesale stocks index showed the decline narrowed to 1.1% from 2.3% in May.

Other than that, the markets are looking forward to the upcoming trade talks between Washington and Beijing tomorrow, Saturday, via satellites, which aim to review the officials of the two largest economies and two industrialized countries in the world, for the implementation of the first phase of their trade agreement, especially after the significant escalation of tensions between Washington and Beijing recently. In conjunction with the start of the countdown to the next US presidential elections, by next November.

Technical analysis

The dollar against the yen pair resumed its positive trading after the temporary decline it witnessed yesterday, approaching the 107.00 barrier, which maintains our expectations for the bullish trend valid in the intraday and short term, supported by the SMA 50 that carries the price from below, noting that our next target is at 107.68.

Note that the continuation of the suggested bullish wave depends on stability above 106.44.

The expected trading range for today is between 106.20 support and 107.70 resistance.

The expected general trend for today: Bullish.

MTC stock continues to test the resistance level 340.00 after rising from the support 313.34 and failing to breach it, and the stock rose higher after it broke through several resistance levels at 233.47 and the level of the moving average 7-20-50.

As the price stabilizes by moving above the 20-50 moving averages, which have become support levels for the price.

The stochastic oscillator is floating inside the overbought zone, which constituted an additional factor in the price's increase.

The expected trading range is between 301.40 support and 340.50 resistance

The expected general trend for today: Bullish.

USDCAD

The pair remains in a short-term downtrend. The fundamental weakness of the US dollar, as well as a local increase in crude oil prices within a narrow flat range, may put pressure on the pair.

Technical side:

The price is below the middle Bollinger indicator, at SMA 5 and below SMA 14. RSI is above the oversold zone and turns down again. Stoch are growing.

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

Trading recommendations:

If the pair falls below 1.3200, it may go further down to 1.3150.

GBPCAD

The overall trend is upward. The price pivot zone of 1.7225 is holding back sellers. Awesome Oscillator indicates a bullish divergence. 

GBPCAD 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 support level (1.7225).

Target levels: 1.7520; 1.7665.

#BYD (HKEX)

The overall trend is upward. The support level of 71.00 is holding back sellers. Stochastic Oscillator indicates an oversold condition. A start fractal has formed above the 135 moving average, followed by a signal fractal. A breakout ofthe start fractal will result in the formation of an ascending pattern of 1-2-3 within the overall upward movement.

Trading recommendations:

Buy above 75.00.

Stop Loss: 71.00.

Target levels: 79.35; 89.50.