Analytic reviews

#BAYN

The support level of 56.00 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 at the local minimum: 56.00.

Target levels: 64.30; 73.50.

#AIR

The support level of 61.80 is holding back sellers. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator signals an oversold condition.

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

Trading recommendations:

Buy strictly when an ascending 1-2-3 pattern is formed, where wave 1 breaks through the inclined channel of the descending pattern.

Stop Loss under the support level of 61.80.

Target levels: 74.50; 84.80.

AUDJPY

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 resistance level 75.44 will result in the formation of an ascending wave pattern within the overall uptrend.

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

Trading recommendations:

Buy above 75.44.

Stop Loss: 74.86.

Target levels: 75.83; 76.70.

EURUSD

The pair is trading below the resistance level of 1.1900. Global weakness of the dollar is expected to escalate amid the apparent problems in the US economy and the massive stimulus by the Fed and the Treasury, which turn the dollar from a safe-haven currency into a funding currency.

Technical side:

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone. Stoch indicate a weaker growth.

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

Trading recommendations:

If the price goes above 1.1900, it will rise further to 1.1950.

The Australian dollar rose during the Asian session to witness its highest since February 6, 2019 against the US dollar after the developments and economic data that we followed about the Australian economy and the Chinese economy is the largest trading partner of Australia and before the economic developments and data expected on Friday by the American economy the largest economy in the world.

At exactly 02:47 am GMT, the Australian dollar pair rose against the US dollar 0.19% to 0.7209 levels compared to the opening levels at 0.7194, after the pair achieved its highest level in a year and a half at 0.7224, while the pair achieved its lowest during the trading session at 0.7184.

We have followed on from the Australian economy the release of the producer price index, which is an initial indicator of inflationary pressures, which showed a contraction of 1.2% against a growth of 0.2% in the first quarter, as the annual reading of the same index showed a contraction of 0.4% compared to the previous reading and expectations of a growth of 1.3%, and this came before To see the release of the private sector credit index, which showed that the decline has widened to 0.2% compared to the May reading and expectations at 0.1%.

This came before we saw the CFLP disclose the readings of the Industrial and Service Purchasing Managers' Index (PMI), which reported that the industrial sector expanded to 51.1 compared to 50.9 in June, contrary to expectations that the expansion will decrease to 50.8, while the services sector will expand. Down to 54.2 versus 54.4 in June, contrary to expectations that the expansion of shrinkage to 54.5.

On the other hand, investors are currently awaiting by the US economy the disclosure of personal spending and income data, which may reflect the slowdown in personal spending growth to 5.3% compared to 8.2% last May, and the decline in personal income decreased to 0.8% compared to 4.2% in May. , While a reading of the core personal consumption expenditures index may show accelerated growth to 0.2% versus 0.1% in May.

This also comes in conjunction with the disclosure of the unit cost index reading, which may reflect a slowdown in growth to 0.6% compared to 0.8% in the first quarter, and before we witness the disclosure of industrial sector data for the largest industrial country in the world with the release of the Chicago PMI reading, which It may reflect a contraction of the contraction to 44.0 compared to 36.6 last June.

To reveal the final reading of the University of Michigan's index of consumer confidence, which may show a shrinkage in amplitude to 72.9 compared to 73.2 in the first reading prior to the current month and against expansion at 78.1 in June, with the release of the consumer expectations reading for July for one year to come and five years to come.

Technical analysis

The Australian dollar versus the US dollar traded strongly up after testing the support of the bullish channel yesterday, to succeed in achieving our first awaited target at 0.7200, which supports the continuation of the bullish scenario on the intraday and short term, noting that our next target reaches 0.7290.

Therefore, we will continue to favor the bullish trend for the next period unless 0.7120 then 0.7065 levels are broken and stability below it, noting that SMA 50 continues to support the suggested bullish wave.

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

Expected trend for today: bullish

The single currency, the euro, rose during the Asian session to witness its highest level since May 15, 2018, and to prepare for the sixth weekly gains and its third monthly gains in a row against the US dollar before the developments and economic data expected on Friday by the economies of the euro area and the American economy, the largest economy in the world.

At 05:27 am GMT, the euro pair rose against the US dollar by 0.39% to 1.1893 levels, compared to the opening levels at 1.1847 after the pair achieved its highest level in more than two years at 1.1905, while it achieved its lowest during the trading session at 1.1837 .

The markets are looking to the French economy, the second largest in the region, to reveal the growth data for the second quarter with the release of the initial reading of the GDP index, which may reflect the widening contraction to 15.2% compared to 5.3% in the first quarter last, and that comes, before we witnessed by Germany The largest economy in the euro area released the retail sales index, which may reflect a 3.0% decline compared to a rise of 13.9% last May.

In the same context, the annual reading of the retail sales index for Germany may show a slowdown in growth to 3.0% compared to 3.8% in May, before we witness from France the preliminary reading of the consumer price index, which may indicate a 0.1% contraction versus 0.1% growth in May May, in conjunction with the disclosure of the consumer spending reading also for France, which may show a slowdown in growth to 6.9% compared to 36.6% in May.

To reveal the growth data for the fourth largest economy in the euro area, Spain, with the release of the initial reading of the GDP index, which may reflect the widening contraction to 16.0% compared to 5.2% growth in the first quarter, before we witness the release of the same index reading for Italy, the third largest economy in the region, which Shrinkage might also show up to 15.0% compared to 5.3% in the first quarter.

This comes before we witness the disclosure of the growth and inflation data for the euro area as a whole with the release of the initial reading of the GDP index, which may reflect the widening of the contraction to 12.0% compared to 3.6% in the first quarter, and the annual reading of the consumer price index showed that the growth stabilized at 0.3% during July July, as the core annual reading of the same indicator may show, stability at 0.8%.

This also comes in conjunction with the release of the initial reading of the consumer price index for Italy, which may explain the stability of growth at 0.1% during June, before we also witness about Italy revealing a seasonally adjusted reading of the retail sales index, which may explain the slowdown in the pace of growth to 9.8% against 24.3% in May, while the yearly non-seasonally adjusted reading of the same indicator may show a decline in the decline to 6.8%, compared to 10.5% in May.

On the other hand, investors are currently awaiting by the US economy the disclosure of personal spending and income data, which may reflect the slowdown in personal spending growth to 5.3% compared to 8.2% last May, and the decline in personal income decreased to 0.8% compared to 4.2% in May. , While a reading of the core personal consumption expenditures index may show accelerated growth to 0.2% versus 0.1% in May.

This also comes in conjunction with the disclosure of the unit cost index reading, which may reflect a slowdown in growth to 0.6% compared to 0.8% in the first quarter, and before we witness the disclosure of industrial sector data for the largest industrial country in the world with the release of the Chicago PMI reading, which It may reflect a contraction of the contraction to 44.0 compared to 36.6 last June.

To reveal the final reading of the University of Michigan's index of consumer confidence, which may show a shrinkage in amplitude to 72.9 compared to 73.2 in the first reading prior to the current month and against expansion at 78.1 in June, with the release of the consumer expectations reading for July for one year to come and five years to come.

Technical analysis

The pair of the euro against the dollar presented positive trades yesterday, which exceeded our first target of 1.1815 and approached the second at 1.1890, as the day begins with a further rise to support the chances of the continuation of the bullish trend in the intraday and short term, noting that exceeding the last level will push the price to 1.1995 as the next main station.

Consequently, we await further gains during the upcoming sessions, keeping in mind that the continuation of the ascending wave requires stability above 1.1760.

The expected trading range for today is between 1.1800 support and 1.1980 resistance

Expected trend for today: bullish.

Gold price futures rose during the Asian session to witness stability near its highest ever, with the US dollar index retreating to its lowest level on May 14, 2018 according to the inverse relationship between them after the developments and economic data that were followed by the Chinese economy, the largest consumer of the global gloss, and before developments and economic data On Friday, the US economy is expected to be the largest in the world.

At exactly 04:06 AM GMT, gold futures contracts for next December delivery rose 0.80% to trade at $ 1,989.40 per ounce compared to the opening at $ 1,973.60 per ounce, as the contracts started the trading session on an upward price gap after it concluded yesterday's trading At $ 1,966.80 an ounce, with the US dollar index down 0.21% to 92.63 compared to the opening at 92.83.

We have followed the disclosure by the China Federation of Logistics and Procurement (CFLP) on the readings of the Industrial and Service Purchasing Managers Indexes, which indicated the expansion of the industrial sector to a value of 51.1 compared to 50.9 last June, contrary to expectations that the expansion of the expansion to 50.8, while the expansion of the service sector to Its value was 54.2 compared to 54.4 in June, contrary to expectations that the expansion would decrease to 54.5.

On the other hand, investors are currently awaiting by the US economy the disclosure of personal spending and income data, which may reflect the slowdown in personal spending growth to 5.3% compared to 8.2% last May, and the decline in personal income decreased to 0.8% compared to 4.2% in May. , While a reading of the core personal consumption expenditures index may show accelerated growth to 0.2% versus 0.1% in May.

This also comes in conjunction with the disclosure of the unit cost index reading, which may reflect a slowdown in growth to 0.6% compared to 0.8% in the first quarter, and before we witness the disclosure of industrial sector data for the largest industrial country in the world with the release of the Chicago PMI reading, which The contraction may reflect a contraction of 44.0 versus 36.6 in June.

To reveal the final reading of the University of Michigan's index of consumer confidence, which may show a shrinkage in amplitude to 72.9 compared to 73.2 in the first reading prior to the current month and against expansion at 78.1 in June, with the release of the consumer expectations reading for July for one year to come and five years to come.

Technical analysis

The gold price tested the 1937.20 level and found strong support there, to bounce up and try to restore the bullish trend, noting that we need to get a clearer signal for the next direction, which makes us prefer to continue neutral until the price confirms that the mentioned support is broken or the breakout of the 1981.20 resistance.

We point out that the breach of the mentioned support will pressure the price to make more bearish correction whose next targets are located at 1910.10 and extend to 1866.00 while breaching the resistance represents the key to resuming the main bullish trend that targets 2000.00 levels then 2068.00 as the next main stations.

The expected trading range for today is between support 1910.00 and resistance 2020.00.

Expected trend for today: neutral.

The US dollar fell during the Asian session to witness its lowest level since March 12, and to count on the second monthly losses and its first monthly losses in three months against the Japanese yen after the developments and economic data that it had reported on the Japanese economy and on the cusp of developments and economic data expected on Friday by The American economy is the largest economy in the world.

At 06:04 am GMT, the US dollar pair fell against the Japanese yen by 0.35% to 104.36 levels compared to the opening levels at 104.73 after the pair achieved its lowest level in nearly five months at 104.19, while it achieved its highest during the trading session at 104.82.

We have followed on from the Japanese economy, the third largest economy and the third largest industrialized country in the world. The first reading of industrial production was released, which showed a 2.7% increase compared to an 8.9% decline last May, outperforming the expectations that indicated a 0.9% rise, while the annual reading of the same index indicated The decline narrowed to 17.7% compared to 26.3% in May, also outperforming expectations for a decrease in the decline to 21.0%.

This came before we saw the release of the unemployment rate reading, which showed a decline to 2.8% compared to 2.9% in May, contrary to expectations that it rose to 3.0%, and before the reading of consumer confidence showed the contraction shrank to 29.5 in line with expectations from 28.4 in June , In conjunction with the annual reading of the index, which began to be established, widened the decline to 12.8% compared to 12.3% in May, worse than the expectations that indicated a decline of 12.6%.

On the other hand, investors are currently awaiting by the US economy the disclosure of personal spending and income data, which may reflect the slowdown in personal spending growth to 5.3% compared to 8.2% last May, and the decline in personal income decreased to 0.8% compared to 4.2% in May. , While a reading of the core personal consumption expenditures index may show accelerated growth to 0.2% versus 0.1% in May.

This also comes in conjunction with the disclosure of the unit cost index reading, which may reflect a slowdown in growth to 0.6% compared to 0.8% in the first quarter, and before we witness the disclosure of industrial sector data for the largest industrial country in the world with the release of the Chicago PMI reading, which It may reflect a contraction of the contraction to 44.0 compared to 36.6 last June.

To reveal the final reading of the University of Michigan's index of consumer confidence, which may show a shrinkage in amplitude to 72.9 compared to 73.2 in the first reading prior to the current month and against expansion at 78.1 in June, with the release of the consumer expectations reading for July July for one year to come and five years to come.

Technical analysis

The dollar versus the yen significantly resumed its negative trading, moving away from the 105.20 level, which supports the continuation of our bearish expectations, and the path is open for heading towards our main waited target at 103.65.

SMA 50 continues to support the suggested descending wave, which will remain valid and active unless 105.20 level is breached and stability above it.

The expected trading range for today is between 103.70 support and 105.20 resistance.

Expected trend for today: bearish.