Analytic reviews

The Australian dollar fluctuated in a narrow range that tends to rise during the Asian session, to witness its rebound to the second session from its lowest since the fourth of August 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, Thursday, by the US economy The largest economy in the world.

At 02:48 AM GMT, the Australian dollar against the US dollar rose 0.10% to 0.7169 levels, compared to opening levels at 0.7162, after the pair achieved its highest level during the session's trading at 0.7188, while the pair achieved its lowest level at 0.7157.

We have followed up on the Australian economy the release of the Westpac Consumer Confidence Index reading, which showed an acceleration of growth to 3.3% compared to 3.2% last July, and this came before the labor market data was revealed with the release of the unemployment rate reading, which showed an increase to 7.5% from 7.4%. % Last June, below expectations for a rise to 7.8%, in conjunction with the employment change reading showing an increase of 114.7 thousand versus a rise of 228.4 thousand, surpassing expectations for a rise of 30.0 thousand.

On the other hand, investors are currently waiting for the US economy to see the release of the aid requests index reading for the past week on August 8th, which may reflect a decrease of 66 thousand applications to 1,120 thousand applications compared to 1,186 thousand applications in the previous reading. Continuing for the past week at the beginning of this month, a decrease by 209 thousand requests to 15,898 thousand requests compared to 16,107 thousand requests in the previous reading.

This comes in conjunction with the disclosure of the import price index reading, which may indicate a slowdown in growth to 0.6% compared to 1.4% in June, while the annual reading of the same index may show a contraction of the decline to 1.7% compared to 3.8%. Otherwise, investors are anticipating what will happen. The talks of the Republican and Democratic parties about the virus relief package that may have reached a dead-end between US lawmakers until further notice.

Technical analysis

The Australian dollar against the US dollar made attempts to breach the 0.7170 level, but closed the daily candle below it, which maintains the bearish trend scenario valid for the upcoming period, supported by the negative sign that appears on the stochastic indicator, waiting to visit 0.7065 then 0.7000 levels as next major stations.

On the other hand, we note that confirming the breach of 0.7170 will return the price to the main bullish path again.

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

The expected general trend for today: Bearish.

We have nothing new to the movement of Cisco's stock, as the stock continues to provide noticeable positive trades to settle above the moving averages, which supports expectations of achieving more gains during the upcoming sessions, provided that the 20 average is stable, which forms a support level for the price with the price reaching the level of 48.31, which was First price target

Consequently, we will continue suggesting the bullish trend in the intraday and short term, and if the price manages to reach 48.31 resistance, positive pressure will increase on the price to reach the level of 50.56.

The expected trading range is between 42.30 support and 48.30 resistance.

The expected general trend for today: Bullish.

The single currency, the euro, fluctuated in a narrow, rising range during the Asian session, to witness its rebound for the second consecutive session from the lowest since the third of August against the US dollar on the cusp of economic developments and data expected today, Thursday, by the economies of Germany, the largest economy in the euro area and the US economy. The largest economy in the world.

At exactly 05:37 AM GMT, the euro pair rose against the US dollar by 0.24% to 1.1812 levels, compared to opening levels at 1.1784, after the pair achieved its highest level during the session's trading at 1.1817, while it reached its lowest level at 1.1782.

Markets are waiting for Germany to unveil inflation data with the release of the final reading of the consumer price index, which may confirm a 0.5% contraction, unchanged from the previous initial reading for the month of July, compared to a growth of 0.6% last June, in conjunction with the release of the reading. Wholesale inventories price index, which may show a slowdown in growth to 0.4%, compared to 0.6% in June.

On the other hand, investors are currently waiting for the US economy to see the release of the aid requests index reading for the past week on August 8th, which may reflect a decrease of 66 thousand applications to 1,120 thousand applications compared to 1,186 thousand applications in the previous reading. Continuing for the past week at the beginning of this month, a decrease by 209 thousand requests to 15,898 thousand requests compared to 16,107 thousand requests in the previous reading.

This comes in conjunction with the disclosure of the import price index reading, which may indicate a slowdown in growth to 0.6% compared to 1.4% in June, while the annual reading of the same index may show a contraction of the decline to 1.7% compared to 3.8%. Otherwise, we followed yesterday expressing US House of Representatives Speaker Nancy Pelosi on the fact that the Republican and Democratic parties are still miles away in their negotiations over the virus relief package.

Technical analysis

The euro versus dollar ended trading yesterday with a strong rise, stabilizing above the EMA50, to nullify the bearish corrective scenario and lead the price to resume the main bullish trend, on its way to head towards 1.1908 as a next major station.

Thus, the bullish bias will be expected for today, noting that the continuation of the bullish wave depends on stability above 1.1737.

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

The expected general trend for today: Bullish.

Gold futures rose during the Asian session, to witness their rebound for the second session from the lowest since July 23, amid the rebound of the US dollar index for the second session from its highest since the third of August according to the inverse relationship between them on the cusp of developments and expected economic data today, Thursday from The US economy was the largest in the world, and in light of the investors 'follow-up of developments about adopting a vaccine for the Coronavirus, and about US lawmakers' talks about the virus relief package.

At 04:20 a.m. GMT, gold futures contracts for next December delivery rose 0.71% to trade at $ 1,941.00 per ounce, compared to the opening at $ 1,927.30 per ounce, knowing that the contracts started the session on a downward price gap after it was concluded Yesterday's trading at $ 1,949.00 per ounce, with the US dollar index declining 0.10% to 93.28 compared to the opening at 93.37.

Investors are currently waiting for the US economy to see the release of the aid requests index reading for the past week on the eighth of August, which may reflect a decrease of 66 thousand applications to 1,120 thousand applications compared to 1,186 thousand applications in the previous reading, and the reading of continuous aid requests for last week may also appear. At the beginning of this month, a decrease of 209 thousand applications decreased to 15,898 thousand applications compared to 16,107 thousand applications in the previous reading.

This comes in conjunction with the disclosure of the import price index reading, which may indicate a slowdown in growth to 0.6% compared to 1.4% in June, while the annual reading of the same index may show a contraction of the decline to 1.7% compared to 3.8%. Otherwise, we followed yesterday expressing US House of Representatives Speaker Nancy Pelosi on the fact that the Republican and Democratic parties are still miles away in their negotiations over the virus relief package.

In another context, we also followed us yesterday, US President Donald Trump announced that his administration had concluded a deal worth $ 1.5 billion to purchase 100 million doses of the promising American "Moderna" vaccine in order to contribute to containing the Corona pandemic, and this came in conjunction with the Russian Minister of Health reported that The Russian coronavirus vaccine, which was registered Tuesday in his country and announced by Russian President Vladimir Putin, may be available within two weeks.

Technical analysis

The price of gold ended yesterday's trading below 1934.68, which constitutes a strong resistance to gold's attempts to rise, but we note that the price started today with a noticeable rise to attack this level and try to stabilize above it, which supports the continuation of the expected positive scenario for the coming period, which targets 1967.90 then 2008.80 as major stations deification.

Therefore, we await more upside today, bearing in mind that failure to confirm the breach of 1934.68 will put the price under negative pressure again, heading towards testing the areas of 1901.80, then 1860.90 initially.

The expected trading range for today is between 1900.00 support and 1980.00 resistance.

The expected general trend for today: Bullish.

#FME
The overall trend is upward. The 72.00 support level is holding back sellers. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition. A breakout of 74.48 will result in the formation of an ascending pattern of 1-2-3.

Trading recommendations:

Buy above 74.48.

Stop Loss: 72.00.

Target levels: 77.70; 79.30.

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 following the developments and economic data that they followed on 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 exactly 05:50 am GMT, the US dollar against the Japanese yen declined by 0.22% to 106.68 levels compared to the opening levels at 106.91, after the pair achieved its lowest level during the session's trading at 106.60, while it achieved its highest at 106.92.

The Japanese economy has followed up on the disclosure of inflation data with the release of the producer price index reading, which is a preliminary indicator of inflationary pressures, which showed that growth remained stable at 0.6%, unchanged from the previous reading for June, surpassing expectations that indicated a slowdown in growth to 0.3%. While the annual reading of the same index showed that deflation has narrowed to 0.9% compared to 1.6% in June, also beating expectations for a 1.1% contraction.

On the other hand, investors are currently waiting for the US economy to see the release of the aid requests index reading for the past week on August 8th, which may reflect a decrease of 66 thousand applications to 1,120 thousand applications compared to 1,186 thousand applications in the previous reading. Continuing for the past week at the beginning of this month, a decrease by 209 thousand requests to 15,898 thousand requests compared to 16,107 thousand requests in the previous reading.

This comes in conjunction with the disclosure of the import price index reading, which may indicate a slowdown in growth to 0.6% compared to 1.4% in June, while the annual reading of the same index may show a contraction of the decline to 1.7% compared to 3.8%. Otherwise, we followed yesterday expressing US House of Representatives Speaker Nancy Pelosi on the fact that the Republican and Democratic parties are still miles away in their negotiations over the virus relief package.

Technical analysis

The dollar versus yen pair shows some slight bearish tendency to approach the test of the support floor that it formed above 106.44 after breaching it previously, and we notice that the stochastic indicator begins to get rid of the negative momentum, while the SMA 50 provides positive support for the price.

Therefore, these factors encourage us to continue suggesting the bullish trend for the upcoming period, whose next target is at 107.68, while its continuation requires stability above 106.44.

The expected trading range for today is between 106.00 support and 107.50 resistance.

The expected general trend for today: Bullish.

USDJPY

The pair is supported as Treasury yields rise, as well as due to the uncertainty around Donald Trump’s stimulus checks, which are bombarded by his political opponents from the Democratic Party. If these two factors remain in effect, the pair will move higher.

Technical picture:
The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is below the overbought zone and is reversing upwards. Stoch are declining.

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

Trading recommendations:

If the pair holds above 106.60, it will continue to grow to 107.25.

AUDCAD

The price pivot zone of 0.9468 is holding back sellers. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator showed an exit from the oversold zone. A breakout of the resistance level of 0.9512 will result in the formation of an ascending pattern of 1-2-3.

AUDCAD rate online: monitor price movement in real time.

Trading recommendations:

Buy above 0.9512.

Stop Loss: 0.9468.

Target levels: 0.9557; 0.9638.

Cancel the trading plan in case of a retest or breakout of 0.9468.

#FRE

The 38.55 support level is holding back sellers. Stochastic Oscillator indicates an oversold condition. A breakout of the price pivot zone of 40.47 will result in the formation of an ascending pattern of 1-2-3.

Trading recommendations:

Buy above 40.47.

Stop Loss: 38.55.

Target levels: 42.12; 46.22.

EURUSD 

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. A descending truncated H4 level pattern has formed. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition.

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

Trading recommendations:

Buy strictly when an ascending wave pattern is formed, where the wave (as) breaks through the pivot of the second C wave (1.1764).

Stop Loss is 1.1711.

The goal is 1.1903.

When the profit is equal to the stop order, close the ½ position and move to breakeven.