Analytic reviews

EURAUD

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. A breakout of the price pivot zone of 1.6476 will result in the formation of an ascending wave H1 level pattern within the wave (C) of the ascending D1 level pattern.

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

Trading recommendations:

Buy above 1.6476.

Stop Loss: 1.6386.

Target levels: 1.6550; 1.6729.

EURUSD

The pair is consolidating, forming a "rising flag" pattern, which can be finished by a price surge. Despite the local strengthening, the US dollar is still fundamentally weak against the euro.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level.
Stoch are tuning up.

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

Trading recommendations:

Buy the pair at the breakout level of 1.1800 with likely growth to 1.1915.

CADJPY

CCI shows a breakout of the level of 100, followed by an assumed correction to the range of the price pivot zone 78.90. Buy after the correction pattern is completed by an ascending wave pattern.

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

Trading recommendations:

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

Stop Loss under the price pivot zone of 78.90.

Target levels: 79.70; 80.11; 80.72.

Trading ideas for Nestle SA (SIX) 07.08.2020

EURUSD

The pair is consolidating, forming a "rising flag" pattern, which can be finished by a price surge. Despite the local strengthening, the US dollar is still fundamentally weak against the euro.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level.
Stoch are tuning up.

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

Trading recommendations:

Buy the pair at the breakout level of 1.1800 with likely growth to 1.1915.

#NESN

The overall trend is upward. The descending pattern is truncated. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition.

#NESN rate online: monitor the price movement in real time.

Trading recommendations:

Buy when an ascending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the descending truncated H1 level pattern.

Stop Loss: 106.86.

Target levels: 110.00; 112.07.

The Australian dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness from the top of it since the sixth of February 2019 against the US dollar after the economic developments and data that we have followed on the Australian economy and before the developments and economic data expected today, Friday, by the US economy, the largest economy in the world.

At 02:50 AM GMT, the Australian dollar against the US dollar fell 0.28% to 0.7215 levels compared to opening levels at 0.7235, after the pair achieved its lowest level during the session's trading at 0.7211, while the pair achieved its highest in a year and a half at 0.7243.

On the Australian economy, we followed up on the disclosure of the services index reading by the Australian Industrial Group (AIG), which reflected the contraction of 44.0, compared to 31.5 last June. This came before we witnessed the Reserve Bank of Australia unveiling the monetary policy statement for the meeting that took place. It was held on the fourth of August, during which it decided to keep interest rates at the lowest ever rate of 0.25% at the time.

The statement stated that the Australian Central Bank that the pace of recovery may be slower than initial expectations and that the gross domestic product may reflect a contraction of 6% in 2020, with an emphasis on not raising the official cash rate until progress is made with regard to employment and inflation, and that the Australian dollar, in general, is in line with Fundamentals, explaining not seeing the need to intervene in the foreign exchange market.

The statement also touched upon the fact that the Australian central bank still believes that negative interest is unlikely in Australia, with an emphasis on staying zero until progress is made in employment and inflation, and this came, before we witness the Australian Central Bank assistant governor's speech about the economy, Lucy Ellis, under the title "" Economic Outlook: Key Topics from the Monetary Policy Statement "at a webinar hosted by Australian trade economists.

On the other hand, investors are currently awaiting the US economy to unveil labor market data, with the release of the employment change index reading for the non-agricultural sectors, which may reflect 1,530,000 jobs added compared to 4,800,000 jobs added in June, while the average income index reading may indicate Per hour, the decline narrowed to 0.5% from 1.2%. This is with the unemployment rate reading showing a decline to 11.1% compared to 12.3% in June.

This comes before we witness the release of the final reading of the wholesale stocks index, which may confirm a 2.0% decline unchanged from the previous initial reading for the month of June and against a 1.2% decline in May, and in light of the market’s assessment of the division of US lawmakers over the virus relief package talks In light of concern about a second wave of Coronavirus outbreak and the threat of the White House to act on its own if it fails to reach an agreement with the Democrats.

Technical analysis

The Australian dollar versus the US dollar managed to overcome the 0.7200 barrier and settle above it, to support expectations of the continuation of the bullish trend in the intraday and short term, which targets 0.7290 as the next station.

The SMA 50 supports the suggested ascend, noting that a break of 0.7170 will pressure the price to test the pivotal support 0.7065 before any new attempt to rise.

The expected trading range for today is between 0.7150 support and 0.7290 resistance

The expected general trend for today: Bullish.

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

At exactly 05:44 AM GMT, the euro pair fell against the US dollar by 0.30% to 1.1841 levels, compared to opening levels at 1.1877, after the pair achieved its lowest level during the session's trading at 1.1820, while it achieved its highest at 1.1883.

The markets are looking by Germany, the largest economy in the euro area, to reveal the seasonally adjusted reading of the current account index, which may reflect the widening of the surplus to 14.2 billion euros compared to 6.5 billion euros last May, and the seasonally adjusted reading of the trade balance index showed the expansion of the surplus to 10.3 billion Euro compared to 7.6 billion euros, and amid expectations that the seasonally adjusted reading of exports and imports will show an increase in June.

This comes in conjunction with the disclosure by the most industrialized country in the European Union, Germany, of the seasonally adjusted reading of the industrial production index, which may show an acceleration of growth to 8.3% compared to 7.8% in May, before we see France, the second largest economy in the eurozone. The second largest industrial country in the region was the release of the Industrial Production Index, which may reflect a slowdown in growth to 8.6%, compared to 19.6% in May.

We are also looking forward to France for the release of the preliminary reading of the wages index in the private sector, which may reflect a contraction of 1.0% compared to 2.5% in the last first quarter, in conjunction with the release of the French Trade Balance reading, which may indicate the stability of the deficit at 7.1 billion euros in June / June, leading to the disclosure by Italy, the third largest economy in the region, of the June trade balance index reading.

On the other hand, investors are currently awaiting the US economy to unveil labor market data, with the release of the employment change index reading for the non-agricultural sectors, which may reflect 1,530,000 jobs added compared to 4,800,000 jobs added in June, while the average income index reading may indicate Per hour, the decline narrowed to 0.5% from 1.2%. This is with the unemployment rate reading showing a decline to 11.1% compared to 12.3% in June.

This comes before we witness the release of the final reading of the wholesale inventories index, which may confirm a decline of 2.0%, unchanged from the previous initial reading for the month of June and against a decline of 1.2% in May, and the consumer credit reading showed an increase to about $ 10.0 billion against It fell to $ 18.3 billion in May, in conjunction with US lawmakers' discussions about the anticipated virus relief package by Congress.

Technical analysis

The euro versus dollar pair starts today's trading with strong negativity, to break the 1.1850 level and settle below it, which puts the price under more negative pressure expected in the intraday term, on its way to test levels of 1.1790 then 1.1737 mainly.

Thus, the bearish bias will be likely for today, noting that we are waiting for a bullish reversal to resume the main bullish trend after testing the aforementioned levels, bearing in mind that a break of 1.1737 will push the price to achieve more decline and head towards 1.1632 as a next negative station, while the expected decline will remain valid. Unless the price was able to rally to the upside to breach 1.1908 level and hold above it.

It should be noted that caution is required during today's trading, especially at the time of the release of US economic data, which may cause strong and mixed trades on the major currency pairs.

The expected trading range for today is between 1.1737 support and 1.1900 resistance.

The expected general trend for today: Bearish.

Gold futures fell during the Asian session to witness their rebound from the highest at all, amid the bounce of the US dollar index for the second session from its lowest since May 14, 2018, according to the inverse relationship between them after the developments and economic data that we followed about the Chinese economy, the largest consumer of minerals in the world and before Economic developments and data expected on Friday by the US economy, the largest in the world.

This comes amid investor pricing for the division of US lawmakers over the virus relief package talks and in light of concern about a second wave of Coronavirus outbreak and the threat of the White House to act on its own if it fails to reach an agreement with the Democrats in addition to the continuing escalation of tensions between the United States and China, the largest economy in Asia. And the second largest economy in the world.

At 04:44 a.m. GMT, gold futures contracts for December delivery fell 0.48% to trade at $ 2,076.40 per ounce compared to the opening at $ 2,076.40 per ounce, knowing that the contracts started trading on a rising price gap after it concluded Yesterday's trading at $ 2,069.40 per ounce, with the US dollar index rising 0.27% to 93.07 compared to the opening at 92.82.

We followed up on the disclosure of the General Administration of Customs in China of reading the Trade Balance Index, which showed that the surplus expanded to a value of 442 billion yuan, equivalent to $ 62.3 billion, compared to a surplus of 329 billion yuan, equivalent to $ 46.4 billion in June, better than the expectations that It indicated a narrowing of the surplus to a value of 291 billion yuan, equivalent to $ 42.5 billion, with the increase in exports and the decline in imports during the past month.

On the other hand, investors are currently awaiting the US economy to unveil labor market data, with the release of the employment change index reading for the non-agricultural sectors, which may reflect 1,530,000 jobs added compared to 4,800,000 jobs added in June, while the average income index reading may indicate Per hour, the decline narrowed to 0.5% from 1.2%. This is with the unemployment rate reading showing a decline to 11.1% compared to 12.3% in June.

This comes before the release of the final reading of the wholesale stocks index, which may confirm a decline of 2.0% unchanged from the previous initial reading for the month of June and against a decline of 1.2% in May, and in the midst of the focus of attention on the discussions of US lawmakers about the anticipated virus relief package Congress

Technical analysis

The price of gold will gradually crawl to the upside, approaching our awaited target, which now rises to 2083.00, and continues moving inside the bullish channel that appears in the image, to continue suggesting the bullish bias for the upcoming period, noting that surpassing the aforementioned level will extend the upside wave targeting 2150.00 areas as a next station.

The SMA 50 continues to support the price from below, supporting the chances of achieving more gains, bearing in mind that breaking 2048.00 will stop the expected rise and pressure the price to start a bearish intraday correction.

The expected trading range for today is between 2030.00 support and 2095.00 resistance.

The expected general trend for today: Bullish.

The US dollar fluctuated in a narrow range slanting to an upside during the Asian session, while it is still in the process of its third consecutive weekly losses against the Japanese yen after the economic developments and data that we followed on the Japanese economy and before the developments and economic data expected on Friday by the US economy, the largest economy in the world.

At exactly 05:55 am GMT, the US dollar against the Japanese yen rose by 0.01% to 105.56 levels, compared to opening levels at 105.55, after the pair achieved its highest level during the session's trading at 105.64, while it reached its lowest level at 105.49.

The Japanese economy, the second largest in Asia and the third largest in the world, has followed the release of the annual household spending reading, which showed a decline in the decline to 1.2% compared to 16.2% in May, surpassing expectations that indicated a contraction of the decline to 7.8%. This came in conjunction with the annual average income reading showed that the decline has narrowed to 1.7% compared to 2.3% in May, also in line with expectations that indicated a decrease in the decline to 3.0%.

This came before we witnessed the release of the preliminary reading of the leading indicators, which showed an acceleration of growth to a value of 85.0 compared to 78.4 in May, surpassing expectations of 84.8. Otherwise, we followed yesterday's confirmation by Japanese Prime Minister Shinzo Abe that the current situation in his country In light of the outbreak of the Coronavirus and the return of the high number of coronavirus infections, it is more difficult than it was in April, but the current situation does not warrant the declaration of a state of emergency.

On the other hand, investors are currently awaiting the US economy to unveil labor market data, with the release of the employment change index reading for the non-agricultural sectors, which may reflect 1,530,000 jobs added compared to 4,800,000 jobs added in June, while the average income index reading may indicate Per hour, the decline narrowed to 0.5% from 1.2%. This is with the unemployment rate reading showing a decline to 11.1% compared to 12.3% in June.

This comes before we witness the release of the final reading of the wholesale inventories index, which may confirm a decline of 2.0%, unchanged from the previous initial reading for the month of June and against a decline of 1.2% in May, and the consumer credit reading showed an increase to about $ 10.0 billion against It fell to $ 18.3 billion in May, in conjunction with US lawmakers' discussions about the anticipated virus relief package by Congress.

Technical analysis

The dollar versus yen has shown sideways and narrow range trading since yesterday, and is still below the EMA 50, waiting for the negative trading to resume to breach 105.20 and confirm the extension of the downside wave towards 103.65.

In general, we will continue to suggest the bearish trend unless the 106.44 level is breached and stability above it, noting that the stochastic indicator continues to lose positive momentum to support expectations for the continuation of the negative overall scenario.

The expected trading range for today is between 104.70 support and 106.00 resistance.

The expected general trend for today: Bearish.

MTC stock tested the resistance level 340.00 after rising from the support 313.34 and the failure 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 within 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.