Analytic reviews

EURCAD

The overall trend is upward. The descending H2 level pattern is truncated. Awesome Oscillator indicates a bullish divergence. A breakout of the resistance level of 1.5783 will result in the formation of an ascending wave pattern within the overall uptrend.

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

Trading recommendations:

Buy above 1.5783.

Stop Loss: 1.5683.

The target is 1.5975.

If the support level of 1.5683 is breached, cancel the trading plan.

#BAYN

The price pivot zone of 55.70 is holding back sellers. Bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator indicates an oversold condition.

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

Trading recommendations:

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

Stop Loss under the price pivot zone of 55.70.

Target levels: 64.30; 73.50.

EURUSD

The pair is consolidating in the range of 1.1740–1.1900 ahead of new employment data from the US Department of Labor. If the demand for risk assets persists, the pair will continue to rise against the backdrop of the dollar’s overall fundamental weakness.

Technical side:

The price is above the middle Bollinger band, above SMA 5 and SMA 14. Moving averages intersect, signaling a likely price increase. RSI is above the 50% level and moves horizontally. Stoch indicate a weaker decline.

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

Trading recommendations:

Buy the pair when the level of 1.1900 is broken with a likely rise to 1.1975.

The Australian dollar versus the US dollar is hovering around 0.7200, and we note that the stochastic indicator is getting rid of its negativity to gradually gain positive momentum, waiting for the price to stimulate the resumption of the main bullish trend, which its next target is at 0.7290.

From here, we will continue suggesting the bullish trend for the upcoming period, provided that the price maintains its stability above 0.7065.

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

The expected general trend for today: Bullish.

We have nothing new on the movement of Cisco's stock, as the stock continues to provide noticeable positive trades to stabilize trading above the moving averages, which supports expectations of achieving more gains during the upcoming sessions, provided that stability is above the 20 average, which constitutes a support level for the price, awaiting the direction towards 48.31, which represents our next target.

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

You can buy the stock above the average of 20 at the value of 46.60, targets 48.30-50.56, and stop the loss below the level of 45.25.

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 range sloping to an upside during the Asian session, to witness its rebound to the fourth session from the lowest since July 27 against the US dollar before the developments and economic data expected today, Thursday, by the economies of the euro area and the US economy, the largest economy in the world.

At exactly 05:13 AM GMT, the euro pair rose against the US dollar by 0.13% to 1.1879 levels, compared to opening levels at 1.1863, after the pair achieved its highest level during the session's trading at 1.1886, while it reached its lowest level at 1.1862.

The markets are looking forward to Germany, the largest economy in the euro area, for the release of the factory orders reading, which may show a slowdown in growth to 10.3% compared to 10.4% last May, while the annual reading of the same index may indicate the widening of the decline to 34.0% compared to 29.3%, before To witness the release of Italy, the third-largest economy in the region, of the Industrial Production Index, which may reflect a slowdown in growth to 5.6%, compared to 42.1% in May.

On the other hand, investors are currently awaiting the American economy for the release of the aid claims index reading for last week at the beginning of August, which may reflect a decrease of 24 thousand applications to 1,410 thousand applications compared to 1,434 thousand applications in the previous reading, as the reading of continuous aid requests may appear. Last week, on July 25, there was a decline of 298,000 requests to 16,720,000, compared to 17,018,000 in the previous reading.

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 entitled "Economic Recovery and Challenges in the United States" in a hypothetical event hosted by the Official Forum of Monetary and Financial Institutions, and the markets are also looking forward to the discussions of US lawmakers about a package Relief from viruses anticipated by Congress.

Technical analysis

The euro against the dollar continues to fluctuate below the level of 1.1908 after it found strong resistance there, to show signs of a possible decline in the upcoming sessions, especially since the stochastic indicator is showing negative signs, but we notice that the SMA 50 continues to provide positive support for the price, to keep our expectations for the bullish trend that It targets the breach of the mentioned level to head towards our next station at 1.1995.

On the other hand, we should note that a break of 1.1850 will put the price under additional negative pressure targeting 1.1765 - 1.1737 levels before any new positive attempt.

The expected trading range for today is between 1.1790 support and 1.1960 resistance

The expected general trend for today: Bullish

Futures contracts for gold prices fluctuated in a narrow range slanting to an upward trend during the Asian session to witness stability near its highest ever, with the US dollar index rebounding for the fourth session from its highest since July 28, according to the inverse relationship between them before the developments and the expected economic data on Thursday from The American economy was before 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 over a second wave of Corona virus outbreak and the threat of the White House to act on its own if it fails to reach an agreement with Democrats, in addition to the escalation of tensions between the United States and China, the world's largest consumer of the mineral.

At exactly 03:58 am GMT, the futures contract for gold prices for next December delivery rose 0.05% to trade at $ 2,056.10 per ounce compared to the opening at $ 2,055.00 per ounce, knowing that the contracts started trading on a rising price gap after it was concluded Yesterday's trading at $ 2,049.30 per ounce, with the US dollar index declining 0.02% to 92.76 compared to the opening at 92.78.

Investors are currently awaiting the American economy to see the release of the aid claims index reading for last week at the beginning of August, which may reflect a decrease of 24 thousand requests to 1,410 thousand applications compared to 1,434 thousand applications in the previous reading. From July 25, a decrease of 298,000 applications to 16,720,000, compared to 17,018,000 applications in the previous reading.

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 entitled "Economic Recovery and Challenges in the United States" in a hypothetical event hosted by the Official Forum of Monetary and Financial Institutions, as the markets look forward to what will be the outcome of the talks. US lawmakers about the virus relief package anticipated by Congress.

We have recently followed up on the World Gold Council’s disclosure of its semi-annual periodic report, which stated that gold traded funds recorded during June the seventh monthly increase in cash flows in a row, adding 104 cubic tons of gold, or the equivalent of $ 5.6 billion, or 2.7% of assets. Managed and that global net flows during the first half of 2020 amounted to $ 39.5 billion, outperforming the record increase recorded in 2016.

Technical analysis

Gold price stabilizes around 2040.00 after the rises it witnessed yesterday, and continues to move inside the bullish channel that appears in the image, which is supported by the EMA50, waiting for more upside during the next sessions to visit 2078.00, which represents our next main target.

Consequently, we expect the bullish bias to continue in the intraday and short term, bearing in mind that breaking 1990.00 will stop the suggested ascend and pressure the price to start a downward corrective wave.

The expected trading range for today is between 2010.00 support and 2075.00 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 fourth session from its highest since July 24 against the Japanese yen, amid a scarcity of economic data by the Japanese economy and before the developments and economic data expected today, Thursday, by the US economy. Economy in the world.

At exactly 05:54 AM GMT, the US dollar against the Japanese yen declined by 0.10% to 105.49 levels compared to the opening levels at 105.60 after the pair achieved its lowest level during the session's trading at 105.46, while it achieved its highest at 105.62.

Investors are currently awaiting the American economy to see the release of the aid claims index reading for last week at the beginning of August, which may reflect a decrease of 24 thousand requests to 1,410 thousand applications compared to 1,434 thousand applications in the previous reading. From July 25, a decrease of 298,000 applications to 16,720,000, compared to 17,018,000 applications in the previous reading.

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 entitled "Economic Recovery and Challenges in the United States" in a hypothetical event hosted by the Official Forum of Monetary and Financial Institutions, as the markets look forward to what will be the outcome of the talks. US lawmakers about the virus relief package anticipated by Congress.

Technical analysis

The dollar versus the yen pair stabilizes around 105.20, and the price is under the negative pressure that the 50 MA is now forming, while the stochastic oscillator begins losing positive momentum.

Thus, these factors encourage us to maintain our expectations for the bearish trend, whose targets start with a breach of 105.20 to open the way towards 103.65 as a next station, reminding you of the importance of holding below 106.44 for the expected decline.

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

The expected general trend for today: Bearish

The Australian dollar against the US dollar is trading in a positive note, approaching the 0.7200 barrier, waiting to cross this level to support the expected bullish wave in the intraday and short term, which targets 0.7290 as the next major station.

In general, we will continue to suggest the bullish trend for the upcoming period, unless breaking 0.7065 level and holding below it.

The expected trading range for today is between 0.7120 support and 0.7260 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 retracement of the third session from the lowest since July 27 against the US dollar before developments and economic data expected on Wednesday by the economies of the euro area and the US economy, the largest economy in the world.

At exactly 05:12 AM GMT, the euro pair rose against the US dollar by 0.11% to 1.1816 levels, compared to opening levels at 1.1803, after the pair achieved its highest level during the session's trading at 1.1822, while it reached its lowest level at 1.1793.

The markets are currently looking for Spain, the fourth-largest economy in the eurozone, to unveil the service PMI reading, which may show an expansion to a value of 52.3 compared to 50.2 last June, and this comes before we see Italy, the third-largest economy in the region, the release of the index reading. Managers The same, which may reflect an expansion to a value of 51.2 compared to a contraction of 46.4 in June.

This comes before we witness about France, the second-largest economy in the eurozone, the disclosure of the final reading of the services PMI index, which may show the stability of the expansion at 57.8, unchanged from the initial reading for the past month and compared to an expansion at 50.7 in June, before we witness the reading. The final index of the same index for Germany, the largest economy in the region, stabilized the breadth at 56.7, unchanged from the initial reading, and against a contraction of 47.3.

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 55.1, unchanged from the initial reading for the past month and against a contraction of 48.3 in June, before the retail sales index reading also revealed for the economies of the region as a whole. It reflects a slowdown in growth to 6.5%, compared to 17.8% in May.

On the other hand, investors are awaiting the US economy to reveal preliminary data for the labor market with the release of the index of change in private-sector jobs, which may reflect a slowdown in the pace of job creation to about 1,200 thousand jobs added compared to 2,369 thousand jobs in June, and this comes before Hours of release on Friday, the day after the monthly employment report, except for agricultural and unemployment rates, in addition to the average hourly earnings for the month of July

This comes before we witness the release of the merchandise trade balance index reading, which may explain the narrowing of the deficit to a value of $ 50.3 billion compared to $ 54.6 billion in June, and before the disclosure of the final reading of the Institute for Service Provisioning Index by Markit from the United States, which may reflect stability The contraction was at a value of 49.6, unchanged from what it was in the preliminary reading for the past month, and compared to a contraction of 47.9 in June.

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 United States' GDP, which may explain the contraction of the expansion to a value of 55.0 compared to 57.1 in June, and this comes before the president of the Cleveland Federal Reserve Bank FOMC member Loretta Meester on economic prospects at the virtual conference on Liberal Arts Macroeconomics.

Technical analysis

The EUR / USD pair shows further rise to surpass the 1.1800 barrier and settle above it, which supports the continuation of the expected bullish trend scenario in the intraday and short term, which targets 1.1908 then 1.1995 as next major stops, noting that the SMA 50 continues to support the suggested bullish wave.

On the other hand, we should note that a break of 1.1737 will stop the expected rise and pressure the price to make more bearish correction.

The expected trading range for today is between 1.1740 support and 1.1920 resistance.

The expected general trend for today: Bullish.