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Gold price futures fluctuated in a narrow range tilted towards the backdrop during the Asian session to witness its bounce for the third session from the top since September 19, 2011, while it is still in the process of its fifth weekly gains in a row amid the US dollar ...

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Gold price futures fluctuated in a narrow range tilted towards the backdrop during the Asian session to witness its bounce for the third session from the top since September 19, 2011, while it is still in the process of its fifth weekly gains in a row amid the US dollar index rebound for the second consecutive session from the lowest It has been since June 11 according to the inverse relationship between them on the threshold of developments and economic data expected Friday by the US economy, the largest economy in the world.

At exactly 03:58 AM GMT, gold futures contracts for next August delivery fell 0.15% to trade at $ 1,805.70 per ounce compared to the opening at $ 1,808.40 per ounce, knowing that the contracts started the trading session on an upward price gap after it concluded trades Yesterday at $ 1,803.80 an ounce, with the US dollar index rising 0.10% to 96.86 compared to the opening at 96.76.

Markets are awaiting from the US economy the release of the Producer Price Index, which is an initial indicator of inflation, which may reflect the stability of growth at 0.4% during June, while the substantial reading of the same index may show 0.1% growth against 0.1% contraction, and the annual reading of the index may show a contraction Shrinkage to 0.2% versus 0.8% in the previous annual reading, while the substantial annual reading may reflect accelerated growth to 0.4% versus 0.3%.

Technical analysis

  

Gold price shows negative trades to test the barrier of 1800.00, and we notice that the stochastic indicator gains significantly positive momentum, as it reaches the outskirts of oversold areas, while the EMA50 continues to support the price from below.

Consequently, we believe that opportunities are available to resume the main bullish trend, which is organized within the bullish channels that appear in the picture, awaiting the direction towards 1825.00 then 1855.00 levels that represent our next main targets, noting that the continuation of the bullish wave requires stability above 1770.00.

The expected trading range for today is between 1790.00 support and 1830.00 resistance.

Expected trend for today: bullish.

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The fluctuation of the US dollar in a narrow range slanted toward decline during the Asian session, to witness its bounce for the sixth session in eight sessions from the top since June 9 against the Japanese yen, following the developments and economic data that it had reported on the ...

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The fluctuation of the US dollar in a narrow range slanted toward decline during the Asian session, to witness its bounce for the sixth session in eight sessions from the top since June 9 against the Japanese yen, following 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 and in the shadows of concern about the increasing number of people infected with the virus globally.

At exactly 05:56 AM GMT, the US dollar pair fell against the Japanese yen by 0.29% to 106.90 levels compared to the opening levels at 107.21 after the pair achieved its lowest level since June 26 at 106.89, while it achieved its highest during the trading session At 107.26.

On the Japanese economy, we have followed the release of the PPI reading, which is an initial indicator of inflationary pressures, which showed a growth of 0.6% compared to a 0.4% contraction last May, outperforming the expectations that indicated a 0.4% growth, while the annual reading of the same indicator showed a contraction To 1.6%, compared to 2.8% in the prior annual reading for May, also beating expectations for a contraction of 2.0%.

On the other hand, investors are currently awaiting by the US economy the release of the PPI reading, which may reflect the stability of growth at 0.4% during June, while the fundamental reading of the same indicator may show 0.1% growth versus 0.1% contraction in May, and it may appear The annual reading of the index shrank contraction to 0.2% compared to 0.8% in the previous annual reading, while the substantial annual reading may reflect the acceleration of growth to 0.4% against 0.3%.

Technical analysis

  

The dollar versus yen pair shows a more bearish tendency to start testing the 107.00 barrier, which supports the continuation of our bearish trend expectations, which aims to test 106.44 level as a next station, noting that SMA 50 constitutes negative pressure to support the downside expectations.

We point out that breaching the targeted level will extend the descending wave to reach 105.20 as the next main target, while the expected decline will remain valid unless the 107.68 level is breached and stability above it.

The expected trading range for today is between 106.20 support and 107.70 resistance.

Expected trend for today: bearish.

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МТС shares fell after failing to break through the resistance 340.47, to form a falling price gap under the support of 321.70, and the decline will continue to the next support 312.90. Which temporarily stopped the downward movement.

The price is moving below the moving averages which ...

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МТС shares fell after failing to break through the resistance 340.47, to form a falling price gap under the support of 321.70, and the decline will continue to the next support 312.90. Which temporarily stopped the downward movement.

The price is moving below the moving averages which constitute resistance levels for the price.

While the stochastic is moving in a bearish mister and increases the negative pressure on the price.

The expected trading range is between 301.10 support and 340.50 resistance.

Expected trend for today: bearish.

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EURUSD

The pair is balancing near 1.1260 amid falling risk appetite in financial markets and growing demand for the dollar as a safe-haven currency. If market sentiment doesn't improve, the pair will continue to decline. At the same time, a positive turn of sentiment will result in further ...

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EURUSD

The pair is balancing near 1.1260 amid falling risk appetite in financial markets and growing demand for the dollar as a safe-haven currency. If market sentiment doesn't improve, the pair will continue to decline. At the same time, a positive turn of sentiment will result in further growth.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages suggest selling. RSI is below the 50% level, moving horizontally. Stoch are in the oversold zone.

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

Trading recommendations:
If the price holds above 1.1260, it may rise to 1.1345. If it drops below this level, it will continue down to 1.1190.

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The Australian dollar versus the US dollar presented positive trading yesterday, to move away from the EMA50, to keep the bullish scenario effective in the intraday and short term, which aims to test the 0.7064 level initially.

The price may witness temporary temporal fluctuation until it is able to ...

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The Australian dollar versus the US dollar presented positive trading yesterday, to move away from the EMA50, to keep the bullish scenario effective in the intraday and short term, which aims to test the 0.7064 level initially.

The price may witness temporary temporal fluctuation until it is able to acquire a positive momentum sufficient to push trades to continue the bullish trend, while noting that stability above 0.6870 is important for the continuation of the suggested rise.

The expected trading range for today is between 0.6920 support and 0.7040 resistance.

Expected trend for today: bullish.

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We have nothing new on the movement of Cisco shares, as the stock continues to provide positive and positive trades to settle in trading around the moving average 20, which supports expectations for achieving more gains during the upcoming sessions, provided the stability above the average 20, which constitutes a ...

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We have nothing new on the movement of Cisco shares, as the stock continues to provide positive and positive trades to settle in trading around the moving average 20, which supports expectations for 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.

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The single currency, the euro, rose during the Asian session to witness its highest since June 11 against the US dollar on the threshold of economic developments and data expected on Thursday by the Eurozone economies, which include Eurogroup meetings via satellites in Brussels and on the cusp of developments ...

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The single currency, the euro, rose during the Asian session to witness its highest since June 11 against the US dollar on the threshold of economic developments and data expected on Thursday by the Eurozone economies, which include Eurogroup meetings via satellites in Brussels and on the cusp of developments and economic data expected from the economy The American is the largest economy in the world.

 

At 05:33 am GMT, the euro pair rose against the US dollar by 0.33% to 1.1367 levels, compared to the opening levels at 1.1330 after the pair achieved its highest level in a month at 1.1371, while achieving the lowest during the trading session at 1.1328.

 

Markets are looking for Germany, the largest economy in the eurozone, to disclose the reading of the current account index for the month of May, in conjunction with the disclosure of the reading of the trade balance index also for Germany, which may show a widening of the surplus to 6.6 billion euros against 3.2 billion euros in April. The past, and amid expectations, showed a seasonally adjusted reading of exports and imports up during May.

 

This comes in conjunction with the meetings of the Eurogroup via satellite, which is attended by the finance ministers of the member states in the region, the Commissioner for Economic and Monetary Affairs and the European Central Bank, which discusses many financial issues such as the mechanisms to support the euro and government financing, led by the European Union recovery package of the repercussions Negative to the outbreak of coronavirus.

 

It is noteworthy that the European Central Governor Christine Lagarde praised yesterday the measures taken by the European Central, indicating that it showed a great deal of efficiency and effectiveness, adding that these measures will provide him with some time to assess the economic data of the euro area, while stating that the economic recovery will be restricted and uncertain and that some countries in the region The euro will recover faster than others and the financial markets have calmed down noticeably for now.

 

In another context, we have also followed up yesterday, the European Union's chief negotiator for Britain’s exit from the European Union, Michel Barnier, expressed that the European Union held good negotiations with the British side last Tuesday regarding the free trade agreement between the two sides, while German Chancellor Angela Merkel confirmed yesterday that the union The European needs to unite around the recovery package while expressing its expectations for good cooperation between European partners.

 

Other than that, we followed last Tuesday, European Union Trade Commissioner Phil Hogan expressed the fact that Brussels would take decisive measures against Washington in the event that the United States did not show a willingness to settle the long-standing dispute over support to the aircraft industry, with his statement that America had rejected Europe's proposals to settle the dispute Al-Qa’im and he hopes that the World Trade Organization will issue its ruling as soon as possible.

 

It is noteworthy that the dispute between the two parties about the support provided to the aircraft industry, especially for the European Airbus and Boeing Company, which erupted since 2004, and the WTO has already given Washington the right to impose duties on European goods worth $ 7.5 billion in response to the support provided by Europe to Airbus, and it is expected By September, the organization will pass judgment on the response that Europe can take about America's support for Boeing.

 

On the other hand, investors are currently awaiting by the American economy the release of the index of subsidy requests for the last week on the fourth of July, which may reflect a decline of 52 thousand requests to 1,375 thousand applications compared to 1,427 thousand requests in the previous reading, as may appear reading subsidy applications Continuing for the last week on the 27th of June, down by 340 thousand requests to 18,950 thousand requests compared to 19,290 thousand requests.

 

This comes before we witness the issuance of the final reading of the wholesale stocks index, which may confirm a decline of 1.2%, unchanged from the initial reading for the month of May, and against a rise of 0.3% last April, and in the shadow of the market's assessment of the increasing number of cases infected with the Coronavirus in America, This prompted many states to propose the restoration of closures, while White House economic adviser Larry Kudlow yesterday stressed that the economy would not be closed again.

Technical analysis

  

The euro against the dollar pair begins trading today with a new positive to penetrate the level of 1.1340 and is trying to hold above it, which supports the continuation of our expectations for an effective trend in the immediate and short term, paving the way for achieving more gains during the upcoming sessions, pending the trend towards 1.1420, which represents our next major station.

 

Consequently, the positive scenario will remain valid and active for today, supported by the EMA50, keeping in mind that stability above 1.1270 is a key condition for the suggested continuation.

 

The expected trading range for today is between 1.1270 support and 1.1440 resistance.

 

Expected trend for today: bullish.

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