Analytic reviews

EURUSD

News of another successful coronavirus vaccine trial in the US supports the demand for risk assets and puts pressure on the dollar. Also, the proposal of France and Germany to create a 500 billion euros recovery fund to help the most affected countries in the eurozone, supports the EUR rate.

Technical side:

The price is above the upper Bollinger band, above SMA 5 and below SMA 14. RSI enters the overbought zone. Stoch are already in this zone.

Trading recommendations:

The pair will continue growing locally towards the upper limit of the 1.0760–1.1015 range.

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

The Australian dollar rose during the Asian session against the US dollar amid the scarcity of economic data by the Australian economy earlier this week and in the wake of the interview given by Federal Reserve Governor Jerome Powell with the program "60 minutes" on "CBS" and on the cusp of developments and economic data On Monday, the US economy is expected to be the largest in the world.

At exactly 03:21 am GMT, the Australian dollar pair rose against the US dollar by 0.31% to 0.6446 levels compared to the opening levels at 0.6426, after the pair achieved its highest level during the trading session at 0.6453, while achieving the lowest at 0.6412, knowing The pair started the trading session on an upward price gap after it concluded the trading last week at 0.6413 levels.

We have just followed the warning of Federal Reserve Governor Jerome Powell in the "60 Minutes" program that the economic downturn may continue until late 2021, explaining that his country's economic downturn may reach between 20% and 30% "easily" during the current quarterly quarter with Coronavirus outbreak, adding that he expects "the economy to recover steadily during the second half of this year," as long as America avoids "the second wave of the virus."

Powell noted that "it is very important to avoid this. Because it will be damaging to the economy and also to the confidence of the public," explaining that "assuming there is no second wave of the virus, I think you will see the economy recover steadily during the second half," adding that "in order for the economy to fully recover A vaccine must wait, "Powell also called on US lawmakers to pass more economic incentives and relief aid, while telling him that unemployment rates could peak at 25%.

Otherwise, investors are currently waiting for the US economy to reveal housing market data with the release of the housing index reading by the National Association of Home Builders, which may reflect a rise to $ 35 compared to 30 last April, and we would like to point out that the Democrats passed last Friday In the House of Representatives a stimulus of $ 3 trillion, but it is not expected that the stimulus will pass the Republican-controlled Senate

Technical analysis

The Australian dollar versus the US dollar pair returns to test the pivotal support 0.6407 and maintains its stability above it until now, accompanied by the arrival of the stochastic to the oversold areas in the sale, waiting for the price to stimulate the resumption of the expected bullish direction for the next period, which begins its goals at 0.6550 and extends to 0.6685 after exceeding the level the previous.

Therefore, we will maintain our positive expectations provided that the price maintains its consolidation above 0.6407.

The expected trading range for today is between 0.6380 support and 0.6500 resistance.

Expected trend for today: bullish.

The single currency fluctuated the euro in a narrow range slashing back down during the Asian session against the US dollar with the aspiration of the German Central Bank to disclose its monthly report and in the wake of the interview that Fed Governor Jerome Powell gave to the program "60 minutes" on "CBS" and on The economic developments and data expected on Monday by the US economy are the largest in the world.

At exactly 05:58 AM GMT, the euro against the US dollar fell 0.02% to 1.0821 levels, compared to the opening levels at 1.0823 after the pair achieved its lowest level during the trading session at 1.0803, while achieving the highest at 1.0827, knowing that The pair started the trading session on an upward price gap after it concluded the trading last week at 1.0820 levels.

We have just followed the warning of Federal Reserve Governor Jerome Powell in the "60 Minutes" program that the economic downturn may continue until late 2021, explaining that his country's economic downturn may reach between 20% and 30% "easily" during the current quarterly quarter with Coronavirus outbreak, adding that he expects "the economy to recover steadily during the second half of this year," as long as America avoids "the second wave of the virus."

Powell noted that "it is very important to avoid this. Because it will be damaging to the economy and also to the confidence of the public," explaining that "assuming there is no second wave of the virus, I think you will see the economy recover steadily during the second half," adding that "in order for the economy to fully recover A vaccine must wait, "Powell also called on US lawmakers to pass more economic incentives and relief aid, while telling him that unemployment rates could peak at 25%.

Otherwise, investors are currently waiting for the US economy to reveal the housing market data with the release of the housing index reading by the National Association of Home Builders, which may reflect a rise to $ 35 compared to 30 last April, and we would like to point out that the Democrats passed last Friday In the House of Representatives a stimulus of $ 3 trillion, but it is not expected that the stimulus will pass the Republican-controlled Senate.

Technical analysis

The EURUSD pair continues to fluctuate between the trend keys which are the support that is now rising to 1.0782 and resistance 1.0840, and therefore, there is no change in our neutral stance until the price is able to breach one of these levels to clearly define the following targets.

We recall that breaching the mentioned support will put the price under additional negative pressure targeting 1.0700 then 1.0640 areas as the next main stations, while breaching the resistance will lead the price to achieve gains reaching 1.0966 in the short term.

The expected trading range for today is between 1.0700 support and 1.0900 resistance.

Expected trend for today: It depends on the levels mentioned in the report.

Gold prices rose during the Asian session to witness the highest since April 14, when it experienced the highest since the fifth of October 2012, which was the highest since November 9, 2011, with the decline in the US dollar index for the first time In four sessions, according to the inverse relationship between them, following the interview conducted by Federal Reserve Governor Jerome Powell with the program "60 Minutes" on "CBS" and on the cusp of developments and economic data expected on Monday by the US economy.

At 05:10 AM GMT, gold price futures for June delivery rose 0.73% to trade at $ 1,770.40 per ounce compared to the opening at $ 1,757.50 per ounce, knowing that the contracts started the trading session on an upward price gap after the week's trades were concluded The past at $ 1,756.30 an ounce, with the US dollar index down 0.06% to 100.35 compared to the opening at 100.41.

We have just followed the warning of Federal Reserve Governor Jerome Powell in the "60 Minutes" program that the economic downturn may continue until late 2021, explaining that his country's economic downturn may reach between 20% and 30% "easily" during the current quarterly quarter with Coronavirus outbreak, adding that he expects "the economy to recover steadily during the second half of this year," as long as America avoids "the second wave of the virus."

Powell noted that "it is very important to avoid this. Because it will be damaging to the economy and also to the confidence of the public," explaining that "assuming there is no second wave of the virus, I think you will see the economy recover steadily during the second half," adding that "in order for the economy to fully recover A vaccine must wait, "Powell also called on US lawmakers to pass more economic incentives and relief aid, while telling him that unemployment rates could peak at 25%.

Otherwise, investors are currently waiting for the US economy to reveal the housing market data with the release of the housing index reading by the National Association of Home Builders, which may reflect a rise to $ 35 compared to 30 last April, and we would like to point out that the Democrats passed last Friday In the House of Representatives a stimulus of $ 3 trillion, but it is not expected that the stimulus will pass the Republican-controlled Senate.

Technical analysis

The gold price continues to fluctuate around 1747.43 level and attempts are being made to breach it now, which supports the chances of the continuation of the bullish trend scenario in the longer term, paving the way for heading towards our next main target that extends to 1785.00.

SMA 50 continues to support the suggested bullish wave, which will remain valid and effective provided stability above 1717.00 as the first protection factor for the positive scenario.

The expected trading range for today is between 1730.00 support and 1785.00 resistance.

Expected trend for today: bullish.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session against the Japanese yen following the developments and economic data that is reported on the Japanese economy and the interview conducted by Federal Reserve Governor Jerome Powell with the program "60 Minutes" on "CBS" and on the cusp of developments and data The expected economic Monday by the US economy and amid market pricing for measures to gradually reopen the US economy and some other global economies and return to normalcy after efforts to contain the outbreak of the Coronavirus.

At exactly 06:30 am GMT, the US dollar pair rose against the Japanese yen by 0.13% to 107.20 levels compared to the opening levels at 107.15 after the pair achieved its highest level during the trading session at 107.28, while achieving the lowest at 107.04, knowing that The pair started the trading session on an upward price gap after it concluded the trading last week at 107.06 levels.

We have followed on from the Japanese economy the release of the seasonally adjusted preliminary reading of the GDP index, which showed contraction shrinking to 0.9% compared to 1.8% in the fourth quarter, surpassing expectations that indicated contraction shrinking to 1.1%, while the preliminary annual reading of the same indicator measured in prices showed Growth slowed to 0.9% versus 1.2% in the fourth quarter, also beating expectations for slowing growth to 0.7%.

This came before we also witnessed by the second-largest economies of Asia and the third-largest economy in the world after both the United States and China, the disclosure of industrial sector data for the third-largest industrial country in the world with the release of the reading of the Terratari industrial index, which showed the widening of the decline to 4.2% compared to 0.7% Last February, it was worse than expectations, which indicated that the decline would extend to 3.6%.

On the other hand, we have followed the warning of Federal Reserve Governor Jerome Powell in the "60 Minutes" program that the economic downturn may continue until late 2021, explaining that his country's economic downturn may reach between 20% and 30% "easily" during the current quarterly quarter. With the outbreak of the Coronavirus, and adding that he expects "the economy to recover steadily during the second half of this year," as long as America avoids "the second wave of the virus."

Powell noted that "it is very important to avoid this. Because it will be damaging to the economy and also to the confidence of the public," explaining that "assuming there is no second wave of the virus, I think you will see the economy recover steadily during the second half," adding that "in order for the economy to fully recover A vaccine must wait, "Powell also called on US lawmakers to pass more economic incentives and relief aid, while telling him that unemployment rates could peak at 25%.

Otherwise, investors are currently waiting for the US economy to reveal the housing market data with the release of the housing index reading by the National Association of Home Builders, which may reflect a rise to $ 35 compared to 30 last April, and we would like to point out that the Democrats passed last Friday In the House of Representatives a stimulus of $ 3 trillion, but it is not expected that the stimulus will pass the Republican-controlled Senate.

Technical analysis

The dollar versus the yen continues to fluctuate between the sides of the sideways range represented by the support 106.44 and the resistance 107.68, and therefore, there is no change in our expectations of the sideways domination of the intraday trading until the price succeeds in penetrating one of these two levels to clearly define the following targets.

We point out that the breach of the mentioned support will pressure the price to visit the 61.8% Fibonacci correction level at 105.19 directly, while breaching the resistance will enable the price to start recovery attempts aimed at testing the 109.22 level initially.

The expected trading range for today is between 106.30 support and 108.00 resistance.

Expected trend for today: sideways.

GBPUSD 

The pair will continue to decline after the upward correction. It’s caused by the renewed Brexit tensions that had temporarily subsided due to the coronavirus pandemic. The issues that remain unresolved will put pressure on the pair in the short term amid the pandemic-stricken economy.

Technical side:

The price is below the middle Bollinger band, at SMA 5 and below SMA 14. RSI is coming out of the oversold zone. Stoch are also reversing in this zone.

Trading recommendations:

A pullback up to 1.2160 is possible. If it does not rise above this level, it will begin to decline again and will plummet towards the target level of 1.1000.

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

#SBER

The support level of 183.50 held back sellers. The stock is trading in the range of a descending price channel. Bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversoldness.

Trading recommendations:

Buy while an ascending 1-2-3 pattern is forming, strictly on the breakout of the upper border of the descending price channel.

Stop loss: 183.50.

Target levels: 192.17; 198.10; 204.33.

The #SBER rate online: monitor the movement of the shares in real time.

CADCHF

The 0.6880 support level is holding back sellers. A truncated descending H2 level pattern has formed. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversoldness.

Trading recommendations:

Buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending truncated pattern.

Stop loss below the support level of 0.6880.

Target levels: 0.6986 (trap); 0.7030 (resistance level + 123.6% of A H4 level).  

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

The fluctuation of the US dollar in a narrow range slanted toward decline during the Asian session, to witness its bounce for the third session in five sessions from the top since April 23 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 Friday by the economy The American is the largest economy in the world.

At exactly 6:26 am GMT, the US dollar pair fell against the Japanese yen by 0.03% to 107.22 levels compared to the opening levels at 107.25 after the pair achieved its lowest level during the trading session at 107.19, while achieving the highest at 107.43.

On the Japanese economy, we have followed the release of the PPI reading, which is an initial indication of inflationary pressures, which showed the contraction widened to 1.5% compared to the previous reading in March and expectations at 0.9%, as the annual reading of the same index indicated the contraction expanded to 2.3% compared to 0.4% In the previous annual reading for the month of March, worse than expectations that indicated the expansion of the contraction to 1.4%.

On the other hand, investors are currently awaiting by the US economy the disclosure of the retail sales reading, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product of the United States, which may reflect the widening decline for the worst ever to 12.0% compared to 8.7% in March March, as the fundamental reading of the same index may reveal that the worst rate ever fell to 8.6% compared to 4.5% in March.

This comes in conjunction with the disclosure of industrial sector data for the largest industrial country in the world with the release of the New York industrial index reading, which may reflect the widening of the contraction to 65.0 compared to 78.2 in April, before the release of the industrial production index, which may reflect the widening of the decline to 11.3 % Versus 5.4% in March, while a reading of the Energy Utilization Index may show a slowdown in growth to 63.9% compared to 72.7% in March.

Markets are also looking to reveal the preliminary reading of the University of Michigan index of consumer confidence, which may show a decrease to 68.0 compared to 71.8 in April, in conjunction with the final reading of the wholesale inventory index showed a decline in the decline to 0.3% compared to 0.4% in February, and the disclosure of market data Work with the release of the employment opportunities and job turnover reading, which may reflect a decrease to 5.77 million compared to 6.88 million in February.

It is reported that Federal Reserve Governor Jerome Powell Noh Wednesday during his pre-prepared speech on economic issues in an online seminar organized by the Peterson Institute for International Economics at the time that "although the economic response was timely and large, appropriately, it may not be the last chapter, Given that the road ahead is very uncertain and subject to great risks. "

Powell also warned at the time that the potential economic recession may be deeper and longer without additional fiscal stimulus, which reduced appetite for risk among investors, especially with the uncertainty experienced in the markets about reopening global economies and easing the social divergence measures imposed in efforts to reduce Coronavirus outbreak already, which could lead to a possible second wave of killer virus outbreak with the reopening.

Technical analysis

The USDJPY pair is still confined within the sideways range whose parties are represented by support 106.44 and resistance 107.68, which keeps the side movement scenario in place until the price is able to overcome one of these levels and then determine its next direction more accurately.

To find out the expected targets from the breach, please review our previous report.

The expected trading range for today is between 106.30 support and 108.00 resistance.

Expected trend for today: sideways.

Gold prices fluctuated in a narrow range tilted to the upside during the Asian session, disregarding the rise of the US dollar index for the seventh session in ten sessions from the lowest since March 30, according to the inverse relationship between them after the developments and economic data that we followed on Friday from the Chinese economy, the largest importer of minerals Globally, on the cusp of developments and economic data expected today, Friday, by the US economy, the largest economy in the world.

At 05:10 am GMT, gold price futures for June delivery rose 0.16% to trade at $ 1,740.70 per ounce compared to the opening at $ 1,738.50 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded yesterday's trading At $ 1,740.90 an ounce, while the US dollar index rose 0.3% to 100.29 compared to the opening at 100.26.

We have followed about the largest economies of Asia and the second-largest economy in the world and the second-largest industrialized country globally after the United States The National Bureau of Statistics of China revealed data for the month of April with the release of the annual reading of the industrial production index, which showed a rise of 3.9% against a decline of 1.1% in the annual reading Previous to last March, beating expectations that indicated a 1.5% rise,

This came in conjunction with the National Bureau of Statistics of China unveiling the annual reading of the retail sales index, which reflected a decline in the decline to 7.5% compared to 15.8% in the previous annual reading for the month of March, worse than expectations that indicated a decline in the decline to 5.9%, and the release of unemployment rates, which It showed an increase to 6.0% compared to 5.9% in March, worse than expectations that it fell to 5.8%.

On the other hand, investors are currently awaiting by the US economy the disclosure of the retail sales reading, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product of the United States, which may reflect the widening decline for the worst ever to 12.0% compared to 8.7% in March March, as the fundamental reading of the same index may reveal that the worst rate ever fell to 8.6% compared to 4.5% in March.

This comes in conjunction with the disclosure of industrial sector data for the largest industrial country in the world with the release of the New York industrial index reading, which may reflect the widening of the contraction to 65.0 compared to 78.2 in April, before the release of the industrial production index, which may reflect the widening of the decline to 11.3 % Versus 5.4% in March, while a reading of the Energy Utilization Index may show a slowdown in growth to 63.9% compared to 72.7% in March.

Markets are also looking to reveal the preliminary reading of the University of Michigan index of consumer confidence, which may show a decrease to 68.0 compared to 71.8 in April, in conjunction with the final reading of the wholesale inventory index showed a decline in the decline to 0.3% compared to 0.4% in February, and the disclosure of market data Work with the release of the employment opportunities and job turnover reading, which may reflect a decrease to 5.77 million compared to 6.88 million in February.

It is reported that Federal Reserve Governor Jerome Powell Noh Wednesday during his pre-prepared speech on economic issues in an online seminar organized by the Peterson Institute for International Economics at the time that "although the economic response was timely and large, appropriately, it may not be the last chapter, Given that the road ahead is very uncertain and subject to great risks. "

Technical analysis

Gold price confirmed the breakout of the triangle resistance that appears on the chart after the daily candle closes above it, to get a good positive incentive that supports the continuation of the expected upside scenario in the intraday and short term while recalling that our positive targets start at 1747.43 and extend to 1785.00 after crossing the previous level.

Therefore, we await further gains during the upcoming sessions supported by the EMA50, noting that a break of 1718.00 will put the price under intraday negative pressure to head towards testing the 1678.45 level before any new attempt to rise.

The expected trading range for today is between 1718.00 support and 1755.00 resistance.

Expected trend for today: bullish.