Analytic reviews

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its bounce for the third consecutive session from the lowest since March 12 against the Japanese yen after the developments and economic data that we followed about the Japanese economy and before the economic developments and data expected today Tuesday by the economy The American is the largest economy in the world.

At 05:50 am GMT, the US dollar pair rose against the Japanese yen by 0.14% to 106.10 levels compared to the opening levels at 105.95, which is the lowest level for the husband during the trading session, while the pair achieved its highest level during the trading session at 106.19.

On the Japanese economy, the second largest economy in Asia and the third largest in the world, we followed the disclosure of inflation data with the release of the annual reading of the Tokyo Consumer Price Index, which showed accelerated growth to 0.6% compared to 0.3% last June, outperforming expectations at 0.4%, as The significant annual reading of the same index, which excludes food, showed that growth accelerated to 0.4% compared to the previous reading and expectations at 0.2%.

In the same context, the core reading of the Tokyo consumer price index excluding food and energy showed that growth accelerated to 0.6% compared to 0.4% in June, agreeing with expectations at 0.5%, and this came before we witnessed the annual reading of the monetary base index by a bank Japan, which showed an acceleration in growth to 9.8%, compared to 6.0% in June, beating expectations that growth accelerated to 7.1%.

It is noteworthy that the rebound of the dollar-yen at the end of last week from the lowest in four and a half months, after Japanese Finance Minister Taro Aso described last Friday the yen's recent rise as "fast", which reflected the Japanese government's concern that the strong currency could add more pain To the Japanese economy, which depends extensively on exports, which are the backbone of the economy and which is already suffering from a recession.

On the other hand, investors are awaiting by the US economy, the largest industrialized country in the world, the release of the factory orders index, which may show a slowdown in the pace of growth to 5.1% compared to 8.0% in May, and this comes in conjunction with the disclosure of a statistic of consumer confidence by daily business For investors that may reflect the contraction shrinkage to 45.3 compared to 44.0 in July.

Technical analysis

The dollar against the yen conducted a new test for the 106.44 level and maintained its stability below it, as it started to bounce down in a sign of the price trend to resume the downside trend, supported by the stochastic negativity, waiting for the visit to the level of 105.20 as a first goal.

Consequently, the downside scenario will remain likely for the coming period unless the price rushes to breach the 106.44 level and maintain a daily closing above it.

The expected trading range for today is between 105.20 support and 106.50 resistance.

Expected trend for today: bearish.

USDCHF

The overall trend is downward. The currency pair is trading in the range of 365 and 135 moving averages. A breakout of the support level 0.9165 will result in the formation of a 1-2-3 descending pattern. Stochastic Oscillator showed an exit from the overbought zone.

USDCHF rate online: monitor price movement in real time.

Trading recommendations:

Sell below 0.9165.

Stop Loss: 0.9242.

Target levels: 0.9117; 0.9059.

EURUSD

The pair holds above 1.1740 amid the positive economic data from Europe, which helped stoke optimism among investors over the region’s economic recovery and even growth.

Technical side:

The price is below the middle Bollinger band, above SMA 5, but still below SMA 14.RSI crosses the
level of 50% and suggests buying. Stoch are also growing steadily.

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

Trading recommendations:

The pair may grow to 1.1900, if positive market sentiment persists.

Aeroflot, the Russian share, fell back after failing to stabilize above the 86.50 resistance level, bouncing back below the mentioned resistance. The stock returned to the sideways movement that was trading within the past two weeks, as it tested the main support level 78.50, which is one of the important levels to which the price is exposed.

The price is moving in a move around the 50-20 moving averages, which constitute the first support levels for the price and prevents it from falling further.

The stochastic oscillator continues the downward movement after exiting the overbought area and reaching the sell-off zone, thus it will try to press the price to return to the sideways track, provided that the support level 86.50 is breached.

The stock can be bought with a retest of the 86.50 support level, and the targets will be 94.90-101.20, and a stop loss below 82.70

The Australian dollar fluctuated in a narrow range slanting toward a decline during the Asian session, to witness its bounce for the second consecutive session from the top since February 6, 2019 against the US dollar, following the economic developments and data that it had reported on the Australian economy and on the cusp of developments and economic data expected on Monday by The American economy is the largest economy in the world.

At exactly 02:35 am GMT, the Australian dollar pair fell against the US dollar 0.21% to 0.7131 levels compared to the opening levels at 0.7146, after the pair achieved its lowest level during the trading session at 0.7118, while the pair achieved its highest at 0.7150, with Knowing that the pair started the trading session on an upward price gap after it concluded the trading week and last month at 0.7143 levels.

We have followed on from the Australian economy the release of the manufacturing index reading by the Australian Industrial Group (AIG), which indicated a widening of its value to 53.5 compared to 51.5 last June, and this came before we witnessed the Melbourne Institute (MI) revealed a reading of the inflation gauge index that showed acceleration Growth to 0.9% vs. 0.6% in June, down to a job advertisement reading reading showing slowdown in growth to 16.7% versus 41.4% in June.

On the other hand, the markets are looking to reveal the final reading of the manufacturing PMI by Markit for the United States, which may reflect the stability of growth at $ 51.3, little changed from the initial reading of last month and against a contraction at 49.8 in June, before we witness By the US economy, the construction spending index, which showed a 1.0% increase compared to a 2.1% decline last May, was released.

Up to disclosure by the largest industrial country in the world about the reading of the Institute of Industrial Supply index, which may show a widening of 53.6 compared to 52.6 in June, as the reading of the Institute of Industrial Supply measured in prices may clarify an expansion to the value of 52.3 compared to 51.3, and comes This is before the Fed revealed the results of the most responsible loan survey for the second quarter of this year.

Technical analysis

The Australian dollar against the US dollar is pushing negatively on the support of the main bullish channel, and we notice that the EMA50 is trying to protect the price from achieving more decline, while the stochastic indicator shows clear saturation in selling now, which constitutes positive factors that we expect to contribute to pushing the price to rise again.

Therefore, the main bullish trend scenario will remain probable for the coming period, and targets start to surpass 0.7200 to extend towards 0.7290, noting the importance of holding above 0.7120 and 0.7065 to continue the expected rise.

The expected trading range for today is between 0.7080 support and 0.7200 resistance.

Expected trend for today: bullish.

The single currency fluctuated the euro in a narrow range slanting back down during the Asian session to witness its bounce for the second session from its top since 15 May 2018 against the US dollar before the developments and economic data expected today by the economies of the euro area and the US economy, the largest economy in the world.

At exactly 05:08 AM GMT, the euro against the US dollar fell 0.08% to 1.1775 levels, compared to the opening levels at 1.1784 after the pair achieved its lowest level during the trading session at 1.1741, while it achieved the highest at 1.1797, as The pair started the trading session on an upward price gap after it concluded the trading week and last month at 1.1778 levels.

The markets are looking to reveal by the fourth largest economy in the euro area, Spain, about the manufacturing PMI reading, which may reflect a widening to 50.0 compared to a contraction at 49.0 last June, before we witness from Italy, the third largest economy in the region, the reading of the index itself Which may also indicate a widening of 51.3 versus 47.5 in June.

This comes before we witness the final reading of the manufacturing PMI for France, the second largest euro area economy, and Germany the largest in the region, in addition to the eurozone economies as a whole, which may reflect the stability of the expansion in France at 52.0 compared to 52.3 in June, and the stability of the expansion in Germany at 50.0 versus contraction at 45.2, in addition to the expansion of the region as a whole at 51.1 versus contraction at 47.4.

On the other hand, the markets are looking to reveal the final reading of the manufacturing PMI by Markit for the United States, which may reflect the stability of growth at $ 51.3, little changed from the initial reading of last month and against a contraction at 49.8 in June, before we witness By the US economy, the construction spending index, which showed a 1.0% increase compared to a 2.1% decline last May, was released.

Up to disclosure by the largest industrial country in the world about the reading of the Institute of Industrial Supply index, which may show a widening of 53.6 compared to 52.6 in June, as the reading of the Institute of Industrial Supply measured in prices may clarify an expansion to the value of 52.3 compared to 51.3, and comes This is before the Fed revealed the results of the most responsible loan survey for the second quarter of this year.

Technical analysis

The decline in the euro against the dollar stopped at the level of the 23.6% Fibonacci retracement of the measured measure from 1.1185 to 1.1908, and the price starts today with an upward trend in a signal to resume the main bullish trend, and it needs to penetrate 1.1810 to return to the upside channel and achieve more positive targets during the upcoming sessions.

Therefore, the bullish trend will be expected for today, supported by the positive signals provided by the stochastic, awaiting targeting the areas of 1.1995 as the next main station, noting that a break of 1.1737 will press the price to make more bearish correction that reaches its next target to 1.1632 before any new attempt to rise.

The expected trading range for today is between 1.1700 support and 1.1880 resistance.

Expected trend for today: bullish.

Gold price futures fluctuated in a narrow range that tilted back down during the Asian session to witness its rebound from its highest ever, with the dollar index rebounding for the second consecutive session from the lowest of 14 May 2018 according to the inverse relationship between them before the expected developments and economic data on Monday from The US economy is in the midst of US lawmakers' talks about the virus relief package, in the shadow of concern over new HIV cases and escalating tensions between Beijing and Washington.

At exactly 03:59 AM GMT, gold futures contracts for next December delivery decreased 0.26% to trade at $ 1,992.30 per ounce compared to the opening at $ 1,997.40 per ounce, knowing that the contracts started the trading session on an upward price gap after it concluded Trading week and last month at $ 1,985.90 per ounce, with the dollar index increased 0.01% to 93.46 compared to the opening at 93.45.

The markets are looking to reveal the final reading of the manufacturing PMI by Markit for the United States, which may reflect the stability of growth at 51.3, with little change from the initial reading of last month and against a contraction at 49.8 in June, before we witnessed by the economy. The US released the construction spending index, which shows a 1.0% increase compared to a 2.1% decline in May.

Up to disclosure by the largest industrial country in the world about the reading of the Institute of Industrial Supply index, which may show a widening of 53.6 compared to 52.6 in June, as the reading of the Institute of Industrial Supply measured in prices may clarify an expansion to the value of 52.3 compared to 51.3, and comes This is before the Fed revealed the results of the most responsible loan survey for the second quarter of this year.

Technical analysis

Gold opened the trading day today with a new rise to try to penetrate the level of 1981.20, but it faces strong resistance and finds it difficult to overcome this level, to keep the price confined between this resistance and support 1937.20, which keeps our neutral stance standing until the price is able to overcome one of these levels.

We remind that breaching the resistance will lead the price to resume the main bullish trend and achieve new gains that start at 2000.00 and extend to 2068.00, while breaking the support will pressure the price to visit 1910.10 levels and it may extend to 1866.00 as additional corrective targets.

The expected trading range for today is between 1935.00 support and 2010.00 resistance.

Expected trend for today: neutral.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce for the second consecutive session from the lowest since March 12 against the Japanese yen after the developments and economic data that we followed about the Japanese economy and before the economic developments and data expected on Monday by the economy The American is the largest economy in the world.

At exactly 05:56 AM GMT, the US dollar pair rose against the Japanese yen by 0.06% to 105.86 levels compared to the opening levels at 105.80 after the pair achieved its highest level during the trading session at 106.43, while achieving the lowest at 105.72, knowing, That the pair started the trading session on a falling price gap after it concluded the trading week and last month at 105.83 levels.

We have followed about the Japanese economy, the second largest economy in Asia, the third largest economy in the world, and the third largest industrialized country globally, the disclosure of the seasonally adjusted initial reading of GDP, which showed the stability of the contraction at 0.6%, little changed from the previous reading for the first quarter of last year, outperforming expectations for a 0.7% contraction.

As for the seasonally adjusted preliminary annual reading of GDP measured by prices in Japan, it reflected the stability of growth at 0.9%, in line with expectations, little changed from the first quarter, and this came before the disclosure of the final reading of the manufacturing PMI by Markit for Japan, which showed contraction shrinking To 52.2 compared to the previous reading for the last month and expectations at 42.6 compared to 40.1 last June.

It is noteworthy that the rebound of the dollar-yen at the end of last week from the lowest in four and a half months came after Japanese Finance Minister Taro Aso described last Friday the yen's recent rise as "fast", which reflected the Japanese government's concern that the strong currency could add more pain To the Japanese economy, which depends extensively on exports, which are the backbone of the economy and which is already suffering from a recession.

On the other hand, the markets are looking to reveal the final reading of the manufacturing PMI by Markit for the United States, which may reflect the stability of growth at $ 51.3, little changed from the initial reading of last month and against a contraction at 49.8 in June, before we witness By the US economy, the construction spending index, which showed a 1.0% increase compared to a 2.1% decline last May, was released.

Up to disclosure by the largest industrial country in the world about the reading of the Institute of Industrial Supply index, which may show a widening of 53.6 compared to 52.6 in June, as the reading of the Institute of Industrial Supply measured in prices may clarify an expansion to the value of 52.3 compared to 51.3, and comes This is before the Fed revealed the results of the most responsible loan survey for the second quarter of this year.

Technical analysis

The dollar pair against the yen surged strongly up in the last sessions to breach the 105.20 level and touch the 106.44 level directly, noting that this level formed a strong resistance against the price, to start to rebound down from there, supported by the positive signal provided by the stochastic indicator, so we are likely to see more The decline during the upcoming sessions, awaiting the test of 105.20 initially.

From here, the bearish bias will be expected for today, and breaking 105.20 will push the price to 103.65 in the short term, while the expected decline will remain valid, provided the stability is below 106.44.

The expected trading range for today is between 104.90 support and 106.44 resistance.

Expected trend for today: bearish.

EURUSD

The pair is trading above 1.1740 ahead of the release of important inflation data in the eurozone and employment data in the US. The pair may correct up if it falls below this level. At the same time, the growth of positive sentiment in the markets will support it again.

Technical side:
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is just above the 50% level, showing an upward turn. Stoch also indicate this probability.

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

Trading recommendations:

If the pair holds above the 1.1740, it will grow towards 1.1900. At the same time, if it falls below this level, it may fall further to 1.1695.

EURGBP

The overall trend is upward. The 0.8980 support level (round secondary level) is holding back sellers. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition.

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

Tradig recommendations:

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

Stop Loss at the local minimum (0.8980).