Analytic reviews

Cisco stock is trying to continue its attempt to rise as the stock continues to provide noticeable positive trades to settle in trading around the moving average 20, which supports expectations of achieving more gains during the upcoming sessions provided the stability above the average 20 which constitutes a level of support for the price pending the trend towards 48.31 which represents our goal next one.

Thus, we will continue to favor the bullish trend over the short and intraday basis, and if the price manages to resist 48.31, the positive pressure on the price will increase to reach the level of 50.56.

The expected trading range is between 42.30 support and 48.30 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 September 28 of 2018 against the US dollar. Before the economic developments and data expected on Friday by the economies of the euro area and the US economy the world.

At exactly 05:35 am GMT, the euro against the US dollar fell 0.02% to 1.1594 levels, compared to the opening levels at 1.1596, after the pair achieved its lowest level during the trading session at 1.1590, while achieving the highest at 1.1621.

The markets are looking for the French economy, the second largest in the euro area, and the German economy, the largest in the euro area, in addition to the region’s economies as a whole. The first reading of the Markit index for industrial and service purchasing managers for the current month, which may reflect the increase in the service and industrial sector in France and the contraction of the industrial sector and the expansion of the sector Services in Germany and both sectors in the region as a whole.

On the other hand, investors are awaiting the disclosure of the initial reading of the Markit manufacturing and services PMI for the United States, which may reflect the expansion of the industrial sector in the largest industrial country in the world to a value of 52.0 compared to a contraction at 49.8 last June, and we may also witness a widening The service sector rose to 51.0, compared to a contraction of 47.9 in June.

This comes before the release of the housing market data before the American economy, with the release of the New Home Sales Index, which may indicate a 4.0% increase to about 700 thousand homes compared to a rise of 16.6% at 676 thousand homes last May. Otherwise, we followed yesterday, US Treasury Secretary Stephen Manuchin expressed that his country would stabilize the US dollar.

Technical analysis

The EURUSD pair managed to breach 1.1600 and is settling above it now, which supports the continuation of the bullish scenario in an intraday and short term, paving the way for heading towards our next target that reaches 1.1715, supported by the EMA50 that continues to carry the price from below.

On the other hand, it should be noted that a break of 1.1560 will press the price to shift to a downside move over the intraday basis to initially visit 1.1490 areas before any new attempt to rise.

The expected trading range for today is between 1.1540 support and 1.1715 resistance.

Expected trend for today: bullish.

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session to witness stability near the top since the beginning of September 2011, when I tested the highest ever. And with the US dollar index falling to its lowest level since September 27, 2018, according to the inverse relationship between them before the economic developments and data expected on Friday by the American economy, the largest economy in the world, and in light of the growing concern about the escalation of tensions between the United States and China, the largest consumer of metals globally.

At exactly 04:10 am GMT, gold futures contracts for next August delivery rose 0.22% to trade at $ 1,889.10 per ounce compared to the opening at $ 1,884.90 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded trades Yesterday at $ 1,890.00 an ounce, with the US dollar index down 0.14% to 94.64 compared to the opening at 94.77.

Investors are currently awaiting the disclosure of the initial reading of the Markit Industrial and Service Purchasing Managers Index for the United States of America, which may reflect the expansion of the industrial sector in the largest industrial country in the world to a value of 52.0 compared to a contraction of 49.8 in the previous reading last June, Likewise, we may witness the services sector expanding to 51.0 compared to 47.9 in June.

This comes before we witnessed by the US economy the disclosure of housing market data with the release of the New Home Sales Index, which may indicate an increase of 4.0% to about 700 thousand homes compared to a rise of 16.6% at 676 thousand homes last May.

Yesterday, we followed up on US Secretary of State Mike Pompeo's criticism of China in a speech, stating that Washington will no longer tolerate Beijing's attempts to usurp the world order.

This was followed, China’s call for the United States to close the US consulate in Chengdu, in response to the recent US decision to close the Chinese consulate in Hyosin, and the statement issued by the Chinese Foreign Ministry mentioned that “the current situation between Washington and Beijing is not something that China wants to see, and the United States is responsible Completely on him, "and Beijing again urged Washington to rescind the wrong decision and create conditions for a return to bilateral relations

Follow us yesterday, US Treasury Secretary Stephen Mnuchin reported that his country will work to stabilize the US dollar and that the White House is working to provide about $ 2 trillion to reduce the negative effects of the Coronavirus, and indicated that providing jobs within the economy is among the priorities in the upcoming draft facing the coronavirus And adding that the US administration is currently looking at unemployment benefits, which represent about 70% of wages.

Technical analysis

Gold found a strong resistance at the $ 1900.00 barrier, to show sideways trading near this level, waiting for a positive momentum enough to push the price to resume the bullish bias and exceeding the mentioned level to head towards our next main target awaited at 1920.80.

Consequently, we continue to favor the bullish trend for the upcoming period supported by the EMA50, noting that breaking 1860.00 will put the price under intraday negative pressure targeting to test the areas of 1835.00 and it may extend to 1810.00 before any new attempt to rise.

The expected trading range for today is between 1860.00 support and 1920.00 resistance.

Expected trend for today: bullish.

The US dollar fell during the Asian session against the Japanese yen, to witness the lowest level since June 23, when it tested the lowest level since the seventh of May amid the scarcity of economic data by the Japanese economy due to the health and sports day holiday in Japan and on the eve of developments and economic data expected today, Friday, by the US economy, the largest economy in the world, and in light of the growing concern about the escalation of tensions between Washington and Beijing.

At exactly 06:00 am GMT, the US dollar pair fell against the Japanese yen by 0.41% to 106.42 levels compared to the opening levels at 106.86 after the pair achieved its lowest level in a month at 106.36, while it achieved its highest during the trading session at 106.90.

Investors are currently awaiting the disclosure of the initial reading of the Markit Industrial and Service Purchasing Managers Index for the United States of America, which may reflect the expansion of the industrial sector in the largest industrial country in the world to a value of 52.0 compared to a contraction of 49.8 in the previous reading last June, Likewise, we may witness the services sector expanding to 51.0 compared to 47.9 in June.

This comes before we witnessed by the US economy the disclosure of housing market data with the release of the New Home Sales Index, which may indicate an increase of 4.0% to about 700 thousand homes compared to a rise of 16.6% at 676 thousand homes last May. Otherwise, yesterday we followed the criticism of US Secretary of State Mike Pompeo of China in a speech, stating that Washington will no longer tolerate Beijing's attempts to usurp the world order.

This was followed, China’s call for the United States to close the American consulate in Chengdu, in response to the recent American decision to close the Chinese consulate in Houston, and the statement issued by the Chinese Foreign Ministry mentioned that “the current situation between Washington and Beijing is not something that China wants to see, and the United States is responsible Completely on him, "and Beijing again urged Washington to rescind the wrong decision and create conditions for a return to bilateral relations.

Technical analysis

The dollar pair against the yen succeeded in achieving our expected goal at 106.44 after the opening of the day with a noticeable decrease, and presses negatively on this level in an attempt to break it, to support the expectations of the continuation of the bearish trend in the intraday and short term, while noting that exceeding the mentioned level will open the way towards heading towards 105.20 as a main target next.

SMA 50 continues to support the current descending wave, so we will continue to favor the bearish trend for the next period unless the price rushes to breach the 107.68 level and hold above it.

The expected trading range for today is between 105.70 support and 107.00 resistance.

Expected trend for today: bearish.

#BA

The 171.0 support level is holding back sellers. If the price fixes above the resistance level, it will rise further. A fractal entry point will also be formed.

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

Trading recommendations:

Buy above 183.0.

Stop Loss: 171.0.

Target levels: 194.0; 233.0.

The Australian dollar fluctuated in a narrow range that tilted toward a retreat during the Asian session, bouncing back for the second session from the top since April 18, 2019, against the US dollar after the economic developments and data that we followed about the Australian economy and before the economic developments and data expected today, Thursday, by the American economy, the largest economy In the world.

At 02:45 am GMT, the Australian dollar pair declined against the US dollar 0.06% to 0.7136 levels compared to the opening levels at 0.7140, after the pair achieved its lowest level during the trading session at 0.7133, while the pair achieved the highest at 0.7152.

This was followed by the Australian economy, the disclosure of the business confidence index reading, which showed that the decline widened to 15 to 12 in the first quarter, and it is mentioned that Reserve Bank of Australia Governor Philip Lowe expressed last Tuesday that the Australian dollar is following the economic fundamentals plans. He pointed out that there is no need for the Australian Central Bank to intervene in the markets to push the Australian dollar down, adding that he wants to drop it.

 Markets are awaiting from the US economy the release of the aid requests reading for the past week on July 18, which may reflect stability at 1.3 million applications unchanged from the previous reading, while the reading of the continuing benefit requests for the last week on the 11th of this month may show a decrease of 271 thousand requests To 17,067 thousand requests, before the release of the leading indicators that may explain the slowdown in growth to 2.1% compared to 2.8% last May.

Technical analysis

The AUD / USD trades around the 0.7140 level, and we notice that the stochastic is getting rid of its negativity to approach the oversold areas in the sale, waiting for the price to stimulate the resumption of the main bullish trend, which targets the 0.7200 level as the next main station.

Therefore, we will keep our bullish expectations unless the 0.7000 level is broken and stability below it.

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

Expected trend for today: bullish

We have no new activity on the Cisco stock movement, as the stock continues to provide noticeable positive trading to settle in trading around the moving average 20, which supports expectations of achieving more gains during the upcoming sessions, provided the stability is above the average 20, which constitutes a level of support for the price pending the direction towards 48.31, which represents our next goal .

Thus, we will continue to favor the bullish trend over the short and intraday basis, and if the price manages to resist 48.31, the positive pressure on the price will increase to reach the level of 50.56

The stock can be bought above average 20 at value 46.60 and targets 48.30-50.56 and stop loss below 45.25 level.

The expected trading range is between 42.30 support and 48.30 resistance

Expected trend for today: bullish

The single currency (the euro) fluctuated in a narrow range tilted to the upside during the Asian session to witness its stability near its top since mid-October 2018 against the US dollar before the developments and economic data expected on Thursday by the economies of the euro area and the US economy, the largest economy in the world.

At 05:40 am GMT, the EUR / USD pair rose 0.13% to 1.1582 levels, compared to the opening levels at 1.1570 after the pair achieved its highest level during the trading session at 1.1585, while achieving the lowest at 1.1564.

The markets are looking for Germany, the largest economy in the eurozone, to issue a statistical reading of the GFK index of consumer confidence, which may reflect a contraction of deflation to 4.6 compared to 9.6 in the previous reading last June, before we witness about the eurozone economies as a whole. It may also reflect a contraction of the contraction to 12 versus 15 in June.

Markets are awaiting from the US economy the release of the aid claims index for the last week on July 18, which may reflect stability at 1.3 million applications unchanged from the previous weekly reading, before we witness the release of the leading indicators reading that may explain the slowdown in the pace of growth to 2.1% Against 2.8% last May.

Technical analysis

The euro against the dollar trading stabilizes around the resistance of the bullish intraday channel that appears in the picture and faces a difficulty in overcoming it, pending obtaining a positive momentum sufficient to contribute to pushing the price to continue the main bullish trend, which targets the level of 1.1715 as the next main station.

SMA 50 continues to provide positive support for the price, to continue to favor the positive scenario for the upcoming period, noting that failure to breach 1.1600 will force the price to provide temporary negative trading and visit 1.1470 levels before any new attempt to rise.

The expected trading range for today is between 1.1500 support and 1.1670 resistance

Expected trend for today: bullish