Analytic reviews

AUDUSD
The pair is trading just below the strong resistance level of 0.7170 in anticipation of the Fed’s monetary policy decision along with Jerome Powell's statement. If Powell focuses on stimulus and hopes of a steady economic recovery by the end of the year like the rest of the Fed, this will have a negative impact on the dollar rate.
Technical side:

The price is above the middle Bollinger indicator, at SMA 5 and above SMA 14. RSI moves horizontally under the overbought zone. Stoch indicate a weaker growth.

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

Trading recommendations:
If the pair goes above 0.7170, it will rise further to 0.7200, and then to 0.7235.

AUDJPY

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. The support level of 74.86 is holding back sellers. A breakout of 74.41 will result in the formation of an ascending wave M15 level pattern within the wave C an ascending H1 level pattern.

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

Trading recommendations:

Buy above 75.41.

Stop Loss: 74.86.

Target levels: 75.57; 75.83 (138.2% Fi); 76.70.

#AXP

The stock is trading in the range of the lower border of the ascending price channel. Awesome Oscillator indicates bullish divergence. The 97.70 resistance level continues to hold back buyers, a breakout of the level will result in the formation of an ascending wave pattern within the ascending price channel.

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

Trading recommendations:

Buy above 97.70.

Stop Loss: 89.50.

Target levels: 108.00; 113.50.

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session against the US dollar after the developments and economic data that we followed about the Australian economy and before the economic developments and data expected today Wednesday by the US economy, the largest economy in the world, which includes the activities of the Federal Open Market Committee meeting 28-29 July, ahead of the upcoming press conference by Federal Reserve Governor Jerome Powell.

At exactly 03:02 AM GMT, the Australian dollar pair rose against the US dollar 0.10% to 0.7165 levels compared to the opening levels at 0.7158, after the pair achieved its highest level during the trading session at 0.7174, while the pair achieved its lowest at 0.7149.

We have followed on from the Australian economy to disclose the inflation data for the second quarter, with the release of the consumer price index, which showed a contraction of 1.9% compared to 0.3% growth in the previous reading for the first quarter of last year, outperforming the expectations that indicated a contraction of 2.0%, while the core reading of the same indicator showed A contraction of 0.1% versus a 0.5% growth in the first quarter, worse than expectations for a slowdown in growth to 0.1%.

In the same context, the annual reading of the consumer price index showed a contraction of 0.3% against a growth of 2.2% in the previous annual reading for the first quarter, surpassing the expectations that indicated a contraction of 0.4%, while the substantial annual reading of the same index showed a slowdown in growth to 1.2% compared to 1.8% in The first quarter, worse than expectations for slowing growth to 1.4%.

On the other hand, investors are currently awaiting by the US economy the disclosure of the merchandise trade balance index, which may explain the widening deficit to $ 75.5 billion compared to $ 74.3 billion last May, in conjunction with the release of the initial reading of the wholesale inventory index, which may be Reflecting the contraction of the decline to 0.4%, compared to 1.2% in May.

This comes before we witness the release of housing market data with the release of existing home sales, which may show a slowdown in growth to 15.6% compared to 44.3% in May, while the annual reading of the same indicator may show a widening decline to 10.2% compared to 5.1% in May. May, through to the end of the activities of the Federal Open Market Committee held in Washington via satellite.

Yesterday, we followed the Fed's announcement in a statement coinciding with the activities of the Federal Committee meeting, during which the Federal Reserve monetary policymakers are expected to keep short-term reference interest rates between zero and 0.25% for the third meeting, respectively, of its decision to extend Lending facilities until the end of next December, which were due to expire by the end of next September.

We would like to point out because the Fed made it clear in its press statement yesterday that extending the facilities for three months will facilitate the planning process by the participants in addition to ensuring that the facilities remain available to help the economy recover from the Corona pandemic while stating that the lending facilities provided strong support to the markets and helped to improve the work of the market. Work significantly, and it boosted credit for families and companies in addition to state and local governments.

Technical analysis

The Australian dollar against the US dollar pair returned to rise after approaching the support of the main bullish channel yesterday, to resume its main bullish path, supported by the EMA50, which continues to carry the price from below, waiting for the visit of 0.7200 then 0.7290 levels as the next main targets.

On the other hand, it should be noted that a break of 0.7105 then 0.7065 will stop the expected rise and press the price to start a bearish corrective wave over the intraday basis.

The expected trading range for today is between 0.7120 support and 0.7230 resistance.

Expected trend for today: bullish.

The euro currency fluctuated in a narrow range tilted to the upside during the Asian session against the US dollar before the developments and economic data expected on Wednesday by the largest economies of the euro area Germany and the American economy the largest economy in the world, which includes the activities of the Federal Open Market Committee meeting July 28-29 And that is ahead of the upcoming press conference of Federal Reserve Governor Jerome Powell in Washington.

At exactly 04:57 AM GMT, the euro pair rose against the US dollar by 0.09% to 1.1727 levels, compared to the opening levels at 1.1716, after the pair achieved its highest level during the trading session at 1.1734, while achieving the lowest at 1.1714.

The markets are looking to Germany to reveal the import price index reading, which may reflect the acceleration of growth to 0.5% compared to 0.3% last May, while the annual reading of the same indicator may show a decline in the decline to 5.1% compared to 7.0% in May, and comes This is hours before the disclosure of growth data for Germany for the second quarter, which may reflect the widening contraction of the largest economies of the euro area to 9.0% compared to 2.2% in the first quarter last.

On the other hand, investors are currently awaiting by the US economy the disclosure of the merchandise trade balance index, which may explain the widening of the deficit to $ 75.5 billion compared to $ 74.3 billion in May, in conjunction with the release of the preliminary reading of the wholesale inventory index, which It may reflect the contraction of the decline to 0.4% compared to 1.2% in May.

This comes before we witness the release of housing market data with the release of existing home sales, which may show a slowdown in growth to 15.6% compared to 44.3% in May, while the annual reading of the same indicator may show a widening decline to 10.2% compared to 5.1% in May. May, through to the end of the activities of the Federal Open Market Committee held in Washington via satellite.

Yesterday, we followed the Fed's announcement in a statement coinciding with the activities of the Federal Committee meeting, during which the Federal Reserve monetary policymakers are expected to keep short-term reference interest rates between zero and 0.25% for the third meeting, respectively, of its decision to extend Lending facilities until the end of next December, which were due to expire by the end of next September.

We would like to point out because the Fed made it clear in its press statement yesterday that extending the facilities for three months will facilitate the planning process by the participants in addition to ensuring that the facilities remain available to help the economy recover from the Corona pandemic while stating that the lending facilities provided strong support to the markets and helped to improve the work of the market. Work significantly, and it boosted credit for families and companies in addition to state and local governments.

Technical analysis

The EURUSD pair trades last within a bullish trigonometric pattern whose features are shown in the above chart, and therefore, the price needs to breach the resistance of this model at 1.1735 to get a good positive incentive that supports the continuation of the main bullish trend, which targets 1.1815 as the next station.

Consequently, we will continue to favor the bullish trend for the upcoming period supported by the moving average 50 and stochastic, keeping in mind that a break of 1.1700 will press the price to start a bearish corrective wave over the intraday basis before resuming the suggested rise.

The expected trading range for today is between 1.1650 support and 1.1830 resistance.

Expected trend for today: bullish.

Gold price futures fluctuated in a narrow range, which is backward during the Asian session, to witness its bounce for the second session from the highest ever at the levels of two thousand dollars per ounce. This is after the negative stability of the US dollar index, according to the inverse relationship between them. Before the expected economic developments and data today, Wednesday, by the US economy, the largest economy in the world, which includes the activities of the Federal Open Market Committee meeting on July 28-29, before the upcoming press conference of the Federal Reserve Governor Jerome Powell.

At 04:04 am GMT, gold futures for next December delivery fell 0.19% to trade at $ 1,968.10 per ounce, compared to the opening at $ 1,971.90 per ounce. The contracts started the trading session on an upward price gap after yesterday's trading closed at $ 1,963.90 per ounce, while the US dollar index fell 0.05% to 93.69 compared to the opening at 93.74.

Investors are currently awaiting by the American economy the disclosure of the merchandise trade balance index, which may explain the widening of the deficit to $ 75.5 billion compared to $ 74.3 billion last May, in conjunction with the release of the initial reading of the wholesale inventory index, which may reflect the shrinking decline To 0.4%, compared to 1.2% in May.

This comes before we witness the release of housing market data with the release of existing home sales, which may show a slowdown in growth to 15.6% compared to 44.3% in May, while the annual reading of the same indicator may show a widening decline to 10.2% compared to 5.1% in May. May, through to the end of the activities of the Federal Open Market Committee held in Washington via satellite.

Yesterday, we followed the Fed's announcement in a statement coinciding with the activities of the Federal Committee meeting, during which the Federal Reserve monetary policymakers are expected to keep short-term reference interest rates between zero and 0.25% for the third meeting, respectively, of its decision to extend Lending facilities until the end of next December, which were due to expire by the end of next September.

We would like to point out because the Fed made it clear in its press statement yesterday that extending the facilities for three months will facilitate the planning process by the participants in addition to ensuring that the facilities remain available to help the economy recover from the Corona pandemic while stating that the lending facilities provided strong support to the markets and helped to improve the work of the market. Work significantly, and it boosted credit for families and companies in addition to state and local governments.

Technical analysis

Gold price based on the level of 1910.10 and bounced up from there, to resume the main bullish path within the bullish channel that appears in the picture, waiting for more rise during the upcoming sessions, noting that our awaited targets start at 2000.00 and extend to 2068.00.

SMA 50 continues to support the suggested bullish wave, noting that breaking 1937.20 then 1910.10 levels will stop the expected rise and press the price to make more bearish correction.

The expected trading range for today is between 1910.00 support and 2000.00 resistance.

Expected trend for today: bullish.

The dollar versus the yen succeeded in breaking the 105.20 level and holding below it, which supports the continuation of our effective forecasts for the downside for the coming period, supported by the EMA50, awaiting the direction towards 103.65 which represents our next main station.

On the other hand, we should pay attention to that breaching 105.20 and holding above it will stop the negative scenario and lead the price for intraday gains that start with visiting 106.00 then 106.44 levels before any attempt to resume the downside main wave.

The expected trading range for today is between 104.20 support and 105.70 resistance.

Expected trend for today: bearish.