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GBPUSD

The pair is trading within the general trend in the currency markets, basically following EURUSD. Today’s UK data is unlikely to have a significant impact on the pair, it may fall if EURUSD is under pressure as investors remain negative on risk assets.

Technical side:

The price is at the lower border of Bollinger band, below SMA 5 and SMA 14. The moving averages intersect, suggesting to sell. RSI below the 50% level also signals a likely further decline. Stoch decline and enter the oversold zone.

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

Trading recommendations:

If the pair falls below 1.3000, there is a probability of a local decline to 1.2915.

Sber Bank stock continues moving within the ascending channel, as it managed to breach the resistance (229.33) as seen in the chart. And that was after it broke through the resistance 215.70 and confirmed its break.

The current price action is between the support level 202.23 and the resistance level 229.06 over the medium period.

While the main targets will be at the support level 185.80 and the resistance level 239.00.

  The moving averages 20-50 are below the price near the level of 215.70 and add pressure on the price for further upside.

General direction of movement: Bullish path

The dollar against the yen achieved a clear breach of 106.44 and closed the daily candlestick above it, which stops the negative scenario suggested in our recent reports and leads the price to turn to the upside, as we expect to target 107.68 as a next positive station.

Consequently, the bullish trend will be expected during the upcoming period with the support of the MA 50, noting that breaching 106.44 and holding below it will re-activate the negative scenario again.

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

The expected general trend for today: Bullish.

Gold futures fell during the Asian session, to witness its rebound for the fourth consecutive session from its highest ever, amid the bounce of the US dollar index for the fourth session from its lowest since May 14, 2018, according to the inverse relationship between them before developments and expected economic data today, Wednesday, by the economy. The US is the largest economy in the world after Russia announced the development of its first Coronavirus vaccine.

At 04:50 am GMT, gold futures contracts for December delivery fell 1.79% to trade at $ 1,887.80 per ounce compared to the opening at $ 1,921.60 per ounce, knowing that the contracts started the session on a downward price gap after it was concluded Yesterday's trading was at $ 1,946.30 an ounce, with the US dollar index rising 0.23% to 93.87 compared to the opening at 93.66.

Investors are currently awaiting the US economy to disclose inflation data with the release of the consumer price index reading, which may show a slowdown in growth to 0.3% compared to 0.6% last June, while the core reading of the same index may reflect the stability of growth at 0.2%. The annual reading of the index accelerated growth to 0.8% from 0.6%, while the substantial annual reading may show growth slowing down to 1.1% against 1.2%.

And this comes, before we witness the participation of a member of the Federal Open Market Committee and Chairman of the Dallas Federal Reserve, Robert Kaplan in a panel discussion on the national economy, the economy of Texas and employment prospects at a webinar hosted by the Chamber of Commerce in Lubbock, leading to the US Treasury’s disclosure of the budget reading. The federal budget, which may reflect the contraction of the deficit to the value of $ 138.3 billion, compared to $ 864.1 billion in June.

On the other hand, we followed us yesterday, Russian President Vladimir Putin announced yesterday that his country had registered the first vaccine in the world to prevent infection with the Coronavirus, stressing that the vaccine had undergone all the necessary tests and had proven effective in providing stable immunity to those who obtained it to prevent Corona, adding that his son had obtained That vaccine is after tests that took nearly two months, and the vaccine enters the third phase of clinical trials on Wednesday.

Other than that, the markets are looking forward to the upcoming trade talks between Washington and Beijing on August 15, which aim to review the two largest economic officials in the world about the implementation of the first phase of their trade agreement, and investors are also following the talks of Republicans and Democrats in the US Congress about the virus relief package. Which may have reached a dead-end among US lawmakers until further notice.

Technical analysis

The price of gold continues its strong decline to lose its recent gains and settle below the level of 1901.80, and face more negative pressure that may push the price to achieve further decline, but we note that the price is trading at the support of the main ascending channel, which may push the trades to start recovery attempts.

Now, we prefer to stay neutral until we get a clearer signal for the next direction, which we will get by breaking the support 1860.90 or breaching the resistance 1901.80, noting that breaking the aforementioned support will extend the downside wave targeting 1800.00 areas in the near term, while breaching the resistance will push Price to build a new bullish wave that targets testing the areas of 1967.90, then 2008.80 initially.

The expected trading range for today is between 1860.00 support and 1935.00 resistance.

The expected overall trend for today: Neutral.

The single currency, the euro, fluctuated in a narrow range that tends to rise during the Asian session, to witness its rebound from its lowest since the third of August, when it tested the lowest since July 27 against the US dollar on the cusp of economic developments and data expected today, Tuesday, by the economies of the region The euro and the US economy is the largest in the world.

At exactly 04:59 AM GMT, the euro pair rose against the US dollar by 0.12% to 1.1752 levels, compared to the opening levels at 1.1738, after the pair achieved its highest level during the session's trading at 1.1755, while it reached its lowest level at 1.1738.

The markets are looking to the economies of the eurozone as a whole to reveal a statistical reading of the ZEW economic confidence index for the economies of the eurozone as a whole, which may explain the contraction of the expansion to a value of 55.3 compared to a value of 59.6 in the previous reading for the month of June. ZEW Economic Sentiment for Germany, the largest economy in the eurozone, narrowed breadth to 57.0, from 59.3 in June.

On the other hand, investors are awaiting the US economy for the release of the producer price index reading, which is a preliminary indicator of inflation, which may reflect a growth of 0.3% against a contraction of 0.2% in June, and the core reading of the same index may indicate a growth of 0.1% against a contraction of 0.3%. While the annual reading of the index may show contraction to 0.7% versus 0.8%, the core annual reading may reflect stability at zero levels versus 0.1% growth.

Technical analysis

The euro against the dollar continued its negative pressure to break the 1.1737 level and settle below it, which opens the way for more bearish correction during the upcoming sessions, on its way to visit 1.1632, which represents 38.2% Fibonacci, to rise from 1.1185 to 1.1908.

Thus, the bearish bias will be expected for today, supported by the negative pressure that the EMA 50 represents, noting that the continuation of the suggested decline depends on stability below 1.1737.

The expected trading range for today is between 1.1630 support and 1.1800 resistance.

The expected general trend for today: Bearish.

The Australian dollar against the US dollar is trading with a noticeable negativity now, to break the 0.7125 level and settle below it, which leads the price to turn downward in the upcoming sessions, heading towards a visit to the 0.7000 level as a first negative target.

Thus, the bearish bias will be likely for today unless the price was able to breach 0.7170 level and stabilize above it.

The expected trading range for today is between 0.7020 support and 0.7170 resistance.

The expected general trend for today: Bearish.

The Australian dollar rose 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 economic developments and data that they followed on the Australian economy and on the cusp of economic developments and data expected today, Tuesday, by the US economy, the largest economy in the world.

At exactly 02:56 am GMT, the Australian dollar against the US dollar rose 0.34% to 0.7174 levels compared to opening levels at 0.7150, after the pair achieved its highest level during the session's trading at 0.7177, while the pair achieved its lowest level at 0.7145.

On the Australian economy, we have followed up on the disclosure of the Australian National Bank’s Business Confidence Index reading, which showed a contraction of 14 compared to an expansion of 1 in the previous reading for the month of June, while the reading of the same index of confidence in the current conditions indicated stability at zero levels. Against a contraction of 7 in the previous reading for the month of June.

On the other hand, investors are awaiting the US economy for the release of the producer price index reading, which is a preliminary indicator of inflation, which may reflect a growth of 0.3% against a contraction of 0.2% in June, and the core reading of the same index may indicate a growth of 0.1% against a contraction of 0.3%. While the annual reading of the index may show contraction to 0.7% versus 0.8%, the core annual reading may reflect stability at zero levels versus 0.1% growth.

Technical analysis

The Australian dollar versus the US dollar conducted a test to support the bullish intraday channel and starts providing positive trades now, which keeps our bullish expectations valid and effective, supported by the positivity of the stochastic indicator, waiting to head towards 0.7290 as a next major station.

On the other hand, we should note that a breach of 0.7125 will pressure the price to start a corrective descending wave before returning to the upside again.

The expected trading range for today is between 0.7125 support and 0.7240 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 from its lowest since the third of August, when it tested its lowest since July 27 against the US dollar before the developments and economic data expected today, Tuesday, by the economies of the euro area. The US economy is the largest in the world.

At exactly 04:59 AM GMT, the euro pair rose against the US dollar by 0.12% to 1.1752 levels, compared to the opening levels at 1.1738, after the pair achieved its highest level during the session's trading at 1.1755, while it reached its lowest level at 1.1738.

The markets are looking to the economies of the eurozone as a whole to reveal a statistical reading of the ZEW economic confidence index for the economies of the eurozone as a whole, which may explain the contraction of the expansion to a value of 55.3 compared to a value of 59.6 in the previous reading for the month of June. ZEW Economic Sentiment for Germany, the largest economy in the eurozone, narrowed breadth to 57.0, from 59.3 in June.

On the other hand, investors are awaiting the US economy for the release of the producer price index reading, which is a preliminary indicator of inflation, which may reflect a growth of 0.3% against a contraction of 0.2% in June, and the core reading of the same index may indicate a growth of 0.1% against a contraction of 0.3%. While the annual reading of the index may show contraction to 0.7% versus 0.8%, the core annual reading may reflect stability at zero levels versus 0.1% growth.

Technical analysis

The EUR / USD pair attempted to breach the 1.1737 level with the opening of the day, but it returns to move above it, which maintains the bullish trend scenario valid until now, supported by the positive signs presented by the stochastic indicator, waiting to head towards our positive targets that start at 1.1850 then 1.1908.

We recall that breaking 1.1737 and holding below it will pressure the price to conduct more bearish correction, whose next target is at 1.1632 before any new attempt to rise.

The expected trading range for today is between 1.1680 support and 1.1850 resistance.

The expected general trend for today: Bullish.

Gazprom share is moving around the support level of 185.80, after it settled in trading around this after it failed to return to the ascending channel it was moving within.

The price is now moving below the 50 average, which constitutes the first level of price resistance.

While we have major resistance at 202.20 and major support at 158.75.

We see that the stochastic indicator begins to exit from the seventh-selling area and move within a downward path, thus it will press the price to breach the support 185.80 and start to the downside.

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.

Futures contracts for gold prices fluctuated in a narrow range tending to decline during the Asian session, to witness its rebound for the third consecutive session from its highest ever, overlooking the decline of the US dollar index for the first time in three sessions according to the inverse relationship between them before the developments and the expected economic data today, Tuesday, by the economy. The US is the largest economy in the world and with investors ’assessment of the existing tensions between Washington and Beijing before the upcoming talks between the two parties regarding what has been achieved in the first phase of their trade agreement.

At exactly 03:53 am GMT, gold futures contracts for December delivery fell 0.55% to trade at $ 2,038.40 per ounce compared to the opening at $ 2,038.40 per ounce, knowing that the contracts started trading on a downward price gap after it was concluded Yesterday's trading was at $ 2,039.70 per ounce, while the US dollar index declined 0.04% to 93.56 compared to the opening at 93.60.

Investors are awaiting the US economy for the release of the producer price index reading, which is a preliminary indicator of inflation, which may reflect a growth of 0.3% against a contraction of 0.2% in June. The core reading of the same index may also show a growth of 0.1% against a contraction of 0.3%, while it may appear. The annual reading of the index shrinking deflation to 0.7% from 0.8%, and the substantive annual reading may reflect stability at zero levels versus 0.1% growth.

Other than that, last Sunday we followed the signing of US Republican President Donald Trump of a series of executive orders to extend unemployment benefits after the White House talks with Congress collapsed amid differing views of the Democratic Party, which has the majority of the House of Representatives, and the Republican Party, which has the majority of the Senate, about the virus relief package talks. Amid growing concern over the outbreak of a second wave of Coronavirus.

This comes after the forty-fifth US President Trump last week threatened to act on his own if he failed to reach an agreement with the Democrats, and those executive orders will save $ 400 a week in unemployment aid, and that is less than $ 600 in the week that was passed before. Congress earlier this year following the coronavirus pandemic.

Other than that, we watched yesterday as China imposed sanctions on 11 American citizens, including Senators Ted Cruz, Marco Rubio and Tom Cotton in addition to Josh Hawley and Pat Tommy, and this step by Beijing came after Washington announced last Friday that it would impose sanctions on 11 individuals. Including Hong Kong leader Carrie Lam for her role in overseeing the implementation of Beijing's policies to wheat freedom and the democratic process in Hong Kong.

Technical analysis

Gold price achieved a break to support the ascending channel that appears in the image, now approaching the 23.6% Fibonacci correction level, which constitutes an important support at 2008.80, noting that the SMA 50 meets with this support to add more strength to it, which supports the chances of continuing the overall bullish trend, Whose next main target is at 2090.00.

From here, we expect to witness positive trading today, and the price needs to breach 2039.00 to facilitate the task of heading towards the aforementioned target, bearing in mind that breaking 2008.80 will pressure the price to make more bearish correction, whose next target reaches 1967.90 before any new attempt to rise.

The expected trading range for today is between 2000.00 support and 2060.00 resistance.

The expected trend for today: Overall Bullish.