Analytic reviews

The Australian dollar rose during the Asian session to witness its highest since last June 23, when it tested the highest for it since 16 of the same month against the US dollar after the developments and economic data that it had reported on the Australian economy and on the cusp of developments and economic data expected today Monday by the American economy The largest economy in the world.

At exactly 03:57 AM GMT, the New Zealand dollar pair rose against the US dollar 0.49% to 0.6965 levels, which is the highest level for the pair in two weeks and during the trading session compared to the opening levels at 0.6631, while the pair achieved its lowest during the trading session at 0.6925, knowing , That the pair started trading on a falling price gap after it concluded the trading last week at 0.6939 levels.

We followed the Melbourne Institute (MI) revealed the inflation gauge reading, which showed a 0.6% increase compared to a 1.2% decline in May, while the annual reading of the same indicator showed that the growth accelerated to 0.7% compared to 0.1%. This came before we witnessed the release of the employment ads index, which showed an increase of 42.0% compared to a decline of 0.3% in May. Tomorrow, the markets are looking for the decisions and directions of monetary policy makers at the Reserve Bank of Australia, and the Australian Central Bank revealed the interest rate statement amid expectations of stabilizing interest at the lowest level ever at 0.25%.

On the other hand, investors are awaiting the release of the Markit Institute for Service Supply Index by Markit for the United States, which may reflect a contraction contraction of 47.0 compared to 46.7 in the previous reading of last month and compared to contraction at 37.5 in May, before revealing The reading of the Institute for Service Supply index whose importance lies in the fact that the service sector represents more than two-thirds of the gross domestic product of the United States, which may show a widening to 50.0 compared to a contraction at 45.4 in May.

Technical analysis

The Australian dollar versus the US dollar is providing positive trades to gradually move away from the breached symmetrical triangle, which supports the continuation of our expectations for the bullish trend, which gets good support from the EMA50, and the path is open to achieving our main awaited target at 0.7064.

On the other hand, it should be noted that a break of 0.6860 will put the price under negative pressure to head towards testing the 0.6700 level before any new attempt to rise.

The expected trading range for today is between 0.6900 support and 0.7040 resistance.

Expected trend for today: bullish.

The single currency rose during the Asian session to witness its bounce back for the third session in four sessions from the lowest since 22 of June, when it tested the lowest since the third of the same month against the US dollar on the threshold of developments and economic data expected today Monday by the economies of the euro area and the economy The American is the largest economy in the world.

At 05:31 am GMT, the euro pair rose against the US dollar by 0.37% to 1.1290 levels, compared to the opening levels at 1.1243 after the pair achieved its highest level during the trading session at 1.1293, while achieving the lowest at 1.1241, knowing, The pair started trading on a falling price gap after it concluded the trading last week at 1.1248 levels.

Markets are looking by Germany, the largest economy in the euro area, for the release of factory demand reading, which may show a 15.1% increase compared to a decline of 25.8% last April, while the annual reading of the same indicator may show a decline in the decline to 28.0% compared to 36.6%, before we witness For the eurozone economies as a whole, the Sentix index of consumer confidence was released, showing the contraction contracted to 10.8 from 24.8 in June.

Up to the disclosure of the retail sales index also for the eurozone economies as a whole, which may reflect a 15.0% increase compared to a decline of 11.7% in April and at that time reflected the largest decline since the inception of the European Union in the beginning of 1999, while the annual reading of the same index may show a contraction The decline declined to 7.5% compared to 19.6% in the previous annual reading for April.

Other than that, we followed last Friday, German Chancellor Angela Merkel expressed during her speech in the European Parliament that the member states of the European Union must prepare at the present time for the possibility of Britain leaving the union without reaching an agreement while touching that the eurozone economies were affected and are still affected strongly One of the negative repercussions of the outbreak of the Coronavirus.

On the other hand, investors are awaiting the final reading of the Markit Service Supply Institute index by Markit for America, which may reflect the contraction to 47.0 compared to 46.7 in the first reading last month and compared to contraction at 37.5 in May, before revealing a reading The Institute for Service Supply index, which may indicate a widening of 50.0 versus a contraction at 45.4 in May.

Technical analysis

The euro against the dollar pair begins trading today with a noticeable rise to attack the resistance of the 1.1270 sideways range, which provides signals on the price trend to resume the main bullish trend, but we need to obtain a daily closing above the mentioned level to confirm the continuation of the rise and head towards the first positive target which is located at 1.1420.

Therefore, the sideways trading scenario will remain intact until the price confirms the break of the resistance 1.1270 or the break of the support 1.1175 to determine the next direction more accurately.

The expected trading range for today is between 1.1200 support and 1.1370 resistance.

Expected trend for today: sideways.

The single currency rose during the Asian session to witness its bounce back for the third session in four sessions from the lowest since 22 of June, when it tested the lowest since the third of the same month against the US dollar on the threshold of developments and economic data expected today Monday by the economies of the euro area and the economy The American is the largest economy in the world.

At 05:31 am GMT, the euro pair rose against the US dollar by 0.37% to 1.1290 levels, compared to the opening levels at 1.1243 after the pair achieved its highest level during the trading session at 1.1293, while achieving the lowest at 1.1241, knowing, The pair started trading on a falling price gap after it concluded the trading last week at 1.1248 levels.

Markets are looking by Germany, the largest economy in the euro area, for the release of factory demand reading, which may show a 15.1% increase compared to a decline of 25.8% last April, while the annual reading of the same indicator may show a decline in the decline to 28.0% compared to 36.6%, before we witness For the eurozone economies as a whole, the Sentix index of consumer confidence was released, showing the contraction contracted to 10.8 from 24.8 in June.

Up to the disclosure of the retail sales index also for the eurozone economies as a whole, which may reflect a 15.0% increase compared to a decline of 11.7% in April and at that time reflected the largest decline since the inception of the European Union in the beginning of 1999, while the annual reading of the same index may show a contraction The decline declined to 7.5% compared to 19.6% in the previous annual reading for April.

Other than that, we followed last Friday, German Chancellor Angela Merkel expressed during her speech in the European Parliament that the member states of the European Union must prepare at the present time for the possibility of Britain leaving the union without reaching an agreement, while touching that the eurozone economies were affected and are still affected strongly One of the negative repercussions of the outbreak of the Corona virus.

On the other hand, investors are awaiting the final reading of the Markit Service Supply Institute index by Markit for America, which may reflect the contraction contraction to 47.0 compared to 46.7 in the first reading last month and compared to contraction at 37.5 in May, before revealing a reading The Institute for Service Supply index, which may indicate a widening of 50.0 versus a contraction at 45.4 in May.

Technical analysis

 Gold price shows sideways and narrow range trading and settles near the EMA50, noting that the stochastic has cleared its negative momentum and reaches the oversold areas in the sale, waiting for the price to stimulate the resumption of the expected bullish direction in the intraday and short term, whose main objectives are located at 1800.00 then 1850.00 .

SMA 50 continues to support the expected bullish wave, which will remain intact, provided stability above 1755.00.

The expected trading range for today is between 1760.00 support and 1800.00 resistance.

Expected trend for today: bullish.

The US dollar fluctuated in a narrow range slanting to the upside during the Asian session to witness its rebound to the seventh session in ten sessions from the lowest since May 7 against the Japanese yen amid the scarcity of economic data at the beginning of this week from the Japanese economy and on the cusp of developments and economic data expected today Monday by the US economy, the largest economy in the world.

At exactly 06:00 am GMT, the US dollar pair rose against the Japanese yen by 0.19% to 107.69 levels compared to the opening levels at 107.49 after the pair achieved its highest level during the trading session at 107.77, while achieving the lowest at 107.46, knowing, The pair started trading on a falling price gap after it concluded the trading last week at 107.51 levels.

Investors are awaiting the final reading of the Markit Service Supply Index by Markit for America, which may reflect contraction contraction to 47.0 compared to 46.7 in the initial reading of last month and against contraction at 37.5 in May, before revealing the reading of the Institute of Supply Index Services, which may explain a widening to 50.0 versus a contraction at 45.4 in May.

This comes hours after the data showed the US labor market for the month of June last Thursday, unemployment rates fell to 11.1% compared to 13.3% in May, outperforming the expectations that indicated a decline to 12.4%, with the reading of the employment change index for sectors other than Agri created 4,800,000 jobs compared to 2,699,000 added jobs in May, beating expectations for 3,037,000.

In the same context, the average hourly earnings reading last week showed that the decline widened to 1.2% compared to 1.0% in May, contrary to expectations that the decline will decrease to 0.8%. This came in conjunction with the reading of the aid claims index for the last week on June 26, which fell by 55 thousand applications to 1,427 thousand applications compared to 1,482 thousand requests in the previous reading.

Other than that, we followed last Saturday, the World Health Organization reported that more than 200,000 cases of coronavirus infection were confirmed in the previous 24 hours, which is a record number, amid the high number of cases in densely populated US states such as Florida, Texas and California, according to the latest Figures issued by the organization, the number of cases infected with the Corona virus increased to more than 11.25 million, and 528,204 people were killed in 216 countries.

Technical analysis

The dollar versus the yen is showing positive trades with the opening of the day to test the pivotal resistance 107.68, which requires attention from the upcoming trades, as the price needs to hold below this level to keep the downside scenario effective for the coming period, which mainly targets the 106.44 level.

On the other hand, we should note that breaching 107.68 and holding above it will lead the price to achieve additional gains reaching 109.22.

The expected trading range for today is between 106.90 support and 108.20 resistance.

Expected trend for today: bearish.

#ROSNEFT

The 359.50 support level held back sellers. A breakout of the price pivot zone of 368.00 will result in the formation of a 1-2-3 ascending pattern. Stochastic Oscillator indicates an oversold condition, and Awesome Oscillator shows a bullish divergence.

#ROSNEFT shares online: monitor the movement of the price in real time.

Trading recommendations:

Buy at the breakout of the price pivot zone of 368.00.

Stop loss below the support level of 359.50.

Target levels: 383.00; 406.0

NZDUSD 

The pair is trading below the strong resistance level of 0.6560, supported by the positive dynamics in Asian stock markets, which in turn rose under the influence of strong data from the US labor market published on Friday.

Technical side:

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI entered the overbought zone. Stoch are also in this zone.

NZDUSD rate online: monitor the movement of the pair in real time.

Trading recommendations:

Buy the pair after it has passed 0.6560 with the possibility of further growth to 0.6665.

EURGBP 

The overall trend is upward. The descending pattern is truncated. A bullish divergence has formed on Awesome Oscillator. A breakout of 0.9035 will result in the formation of an ascending wave pattern within the overall uptrend.

EURGBP rate online: monitor the movement of the pair in real time.

Trading recommendations:

Buy above 0.9035.

Stop Loss: 0.8996.

Target levels: 0.9079; 0.9150.