Analytic reviews

AUDUSD 

The general trend is upward. The currency pair is trading in the range of 365 and 135 moving averages directed upwards. The presumptive corrective pattern (level H1) culminated by breaking through the inclined channel. A break of 0.6483 will result in the formation of an upward wave pattern within the framework of a general uptrend. Stochastic Oscillator indicates oversoldness.

Trading recommendations:

Buy above 0.6483.

Stop loss: 0.6430.

Target levels: 0.6557; 0.6618.

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

#MMM

The general trend (at H1) is upward. The support level of 145.0 is holding back sellers. A downward truncated pattern has formed, and a bullish divergence has formed on Awesome Oscillator.

Trading recommendations:

Buy strictly while an ascending wave pattern is forming, where wave (A) breaks through the inclined channel of the descending truncated pattern, completing it.

Stop loss under the support level of 145.00.

Target levels: 150.76; 154.50; 158.82; 162.84.

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

The Australian dollar fell during the Asian session to witness its bounce for the second consecutive session from its highest since late April, when it tested its highest since March 10 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 Tuesday by the US economy, which includes the speech of members of the Federal Open Market Committee.

At exactly 03:33 am GMT, the Australian dollar pair fell against the US dollar by 0.62% to 0.6449 levels compared to the opening levels at 0.6489, after the pair achieved its lowest level during the trading session at 0.6432, while achieving the highest at 0.6493.

On the Australian economy, we have followed the release of the Australian National Bank’s business confidence index, which showed contraction has shrunk to 46 versus 65 in the previous reading last March, while the same indicator of confidence in the current conditions showed that deflation has widened to 34 versus 21 in the previous reading for March.

On the other hand, investors are waiting for the US economy to disclose inflation data with the release of the CPI reading that may show the contraction widening to 0.7% compared to 0.4% in March, as the fundamental reading of the index may show the contraction widening to 0.2% versus 0.1%, And the annual reading of the index may reflect slowing growth to 0.4% versus 1.5%, as the substantial annual reading may show slowing growth to 1.7% versus 2.1%.

This comes before we witness the speech of members of the Federal Open Market Committee, President of the Federal Reserve Bank of America Patrick Harker about the economic impact of the Coronavirus in the Chamber of Commerce of Delaware in Wilmington, in conjunction with the testimony of the Deputy Governor of the Federal Reserve Randall Carls on supervision and regulation before the Banking Committee of the Council The elders in Washington.

Up to the US Treasury revealed a reading of the federal budget, which may reflect the widening deficit of $ 729.7 billion compared to $ 119.1 billion in March, before we witness the speech of the Federal Open Market Committee member and President of the Cleveland Bank Federal Reserve Loretta Mester about monetary policy And economic outlook at the Association of Certified Financial Analysts in Chicago, via satellite.

Technical analysis

The Australian dollar pair against the US dollar stopped at the EMA50, in conjunction with the emergence of a positive crossover signal through the stochastic, waiting for the price to rise again, to keep the bullish trend scenario active and effective for the coming period, which targets 0.6685 as the next main station.

The ascending channel continues to organize the suggested ascending wave, which will remain intact, provided stability above 0.6407 level.

The expected trading range for today is between 0.6430 support and 0.6570 resistance.

Expected trend for today: bullish.

The euro currency fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce back for the third session in four sessions from the lowest since April 24 against the US dollar and amid the scarcity of economic data by the euro area economies and on the cusp of developments and economic data expected today Tuesday from Before the American economy, which includes the talk of members of the Federal Open Market Committee.

At 05:59 am GMT, the euro pair rose against the US dollar by 0.03% to 1.0810 levels, compared to the opening levels at 1.0807, after the pair achieved its highest level during the trading session at 1.0817, while achieving the lowest at 1.0785.

Investors are waiting for the US economy to disclose inflation data with the release of the CPI reading that may show the contraction widening to 0.7% compared to 0.4% in March, as the fundamental reading of the index may show the expansion of deflation to 0.2% versus 0.1%, and may reflect The annual reading of the index is a slowdown in growth to 0.4% versus 1.5%, and a substantial annual reading may show a slowdown in growth to 1.7% versus 2.1%.

This comes before we witness the speech of members of the Federal Open Market Committee, President of the Federal Reserve Bank of America Patrick Harker about the economic impact of the Coronavirus in the Chamber of Commerce of Delaware in Wilmington, in conjunction with the testimony of the Deputy Governor of the Federal Reserve Randall Carls on supervision and regulation before the Banking Committee of the Council The elders in Washington.

Up to the US Treasury revealed a reading of the federal budget, which may reflect the widening deficit of $ 729.7 billion compared to $ 119.1 billion in March, before we witness the speech of the Federal Open Market Committee member and President of the Cleveland Bank Federal Reserve Loretta Mester about monetary policy And economic outlook at the Association of Certified Financial Analysts in Chicago, via satellite.

Technical analysis

The euro against the dollar trades steady around the 1.0800 barrier, and it is under constant negative pressure coming from the EMA50, which supports the continuation of our expectations for the bearish direction in the intraday and short term, which target 1.7000 then 1.0640 levels as the next main stations.

The positivity of the stochastic oscillator may cause some temporary sideways fluctuation before resuming the expected decline, which will remain valid provided that the price maintains its daily closing stability below 1.0840.

The expected trading range for today is between 1.0700 support and 1.0880 resistance.

Expected trend for today: bearish.

Gold prices fluctuated in a narrow range tilted to the upside during the Asian session, disregarding the rise of the US dollar index to its highest level since April 24, according to the inverse relationship between them after the developments and economic data that we adopted today, Tuesday, on the Chinese economy and on the eve of developments and economic data expected today Tuesday from Before the US economy, the largest economy in the world, which includes the speech of members of the Federal Open Market Committee.

At exactly 04:18 AM GMT, gold price futures for June delivery rose 0.25% to trade at $ 1,704.20 an ounce compared to the opening at $ 1,700.00 per ounce, knowing that the contracts started the trading session on an upward price gap after it concluded yesterday's trading At $ 1,698.00 an ounce, while the US dollar index rose 0.03% to 100.25 compared to the opening at 100.22.

We have followed on from the Chinese economy to disclose inflation data with the release of the annual reading of the consumer price index, which showed slowing growth to 3.3% compared to 4.3% in the previous annual reading for the month of March, worse than expectations that indicated slowing growth to 3.7%, as for the reading The annual producer price index showed that the contraction widened to 3.1% versus 1.5%, also worse than expectations that indicated a contraction of 2.6%.

On the other hand, investors are waiting for the US economy to disclose inflation data with the release of the CPI reading that may show the contraction widening to 0.7% compared to 0.4% in March, as the fundamental reading of the index may show the contraction widening to 0.2% versus 0.1% , And the annual reading of the index may reflect slowing growth to 0.4% versus 1.5%, as the substantial annual reading may show slowing growth to 1.7% versus 2.1%.

This comes before we witness the speech of members of the Federal Open Market Committee, President of the Federal Reserve Bank of America Patrick Harker about the economic impact of the Coronavirus in the Chamber of Commerce of Delaware in Wilmington, in conjunction with the testimony of the Deputy Governor of the Federal Reserve Randall Carls on supervision and regulation before the Banking Committee of the Council The elders in Washington.

Up to the US Treasury revealed a reading of the federal budget, which may reflect the widening deficit of $ 729.7 billion compared to $ 119.1 billion in March, before we witness the speech of the Federal Open Market Committee member and President of the Cleveland Bank Federal Reserve Loretta Mester about monetary policy And economic outlook at the Association of Certified Financial Analysts in Chicago, via satellite.

It is noteworthy that US Treasury Secretary Stephen Mnuchin warned last Sunday that unemployment rates in his country "may get worse before they improve" and that unemployment rates may have reached 25%, and his statements came hours after the American labor market data showed last Friday that unemployment rates in the states increased The United Nations had the highest in about seven decades, to 14.7%, with about 20.5 million jobs lost during April due to the outbreak of the Coronavirus.

Other than that, markets are still assessing the challenges that global economies may face to reopening and easing the newly imposed social divergence measures as part of efforts to curb the outbreak of the Coronavirus, especially in the wake of South Korea's warning this weekend of a possible second wave of HIV cases. Coronary, which reinforced anxiety from a possible second wave of deadly virus outbreaks.

Technical analysis

The price of gold provided further slight negative trading to move below the EMA50, while the stochastic oscillator continues to oversold areas in the sale, waiting for the price to stimulate the resumption of the expected bullish direction for the coming period, which mainly targets 1747.43 then 1785.00 levels.

Therefore, we will maintain our bullish expectations unless the 1678.45 level is broken and stability below it, noting that breaching 1722.00 will free the price from negative pressures and the direction to achieve the suggested targets.

The expected trading range for today is between 1685.00 support and 1730.00 resistance.

Expected trend for today: bullish.

The fluctuation of the US dollar in a narrow range tilted towards the decline during the Asian session to witness its bounce for the second session from the top since April 23 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 Tuesday by the American economy, which includes Recent members of the Federal Open Market Committee.

At exactly 06:16 am GMT, the US dollar pair fell against the Japanese yen by 0.18% to 107.47 levels compared to the opening levels at 107.66 after the pair achieved its lowest level during the trading session at 107.35, while it achieved the highest at 107.70.

We have followed about the Japanese economy, the third largest economy in the world and the third largest industrialized country globally after both the United States and China, to reveal the initial reading of the leading indicators, which showed a decline to 83.8 compared to 91.7 last February, worse than expectations that indicated a decline To 84.3, while the initial reading of the confidence index showed a decline to 90.5 compared to 95.7 in February.

On the other hand, investors are waiting for the US economy to disclose inflation data with the release of the CPI reading that may show the contraction widening to 0.7% compared to 0.4% in March, as the fundamental reading of the index may show the contraction widening to 0.2% versus 0.1% , And the annual reading of the index may reflect slowing growth to 0.4% versus 1.5%, as the substantial annual reading may show slowing growth to 1.7% versus 2.1%.

This comes before we witness the speech of members of the Federal Open Market Committee, President of the Federal Reserve Bank of America Patrick Harker about the economic impact of the Coronavirus in the Chamber of Commerce of Delaware in Wilmington, in conjunction with the testimony of the Deputy Governor of the Federal Reserve Randall Carls on supervision and regulation before the Banking Committee of the Council The elders in Washington.

Up to the US Treasury revealed a reading of the federal budget, which may reflect the widening deficit of $ 729.7 billion compared to $ 119.1 billion in March, before we witness the speech of the Federal Open Market Committee member and President of the Cleveland Bank Federal Reserve Loretta Mester about monetary policy And economic outlook at the Association of Certified Financial Analysts in Chicago, via satellite.

Technical analysis

The dollar pair rose against the yen strongly up after completing the bearish wedge pattern indicated yesterday, to directly touch the positive target 107.68, and we need to monitor the price behavior during the upcoming sessions, as penetration of this level will extend the pair's gains to reach 109.22 as the next stop.

SMA 50 meets with the current areas to add more strength to this resistance, which provides opportunities for a downside bounce and visiting the 106.44 areas again.

Now, we are likely to witness sideways trading between support levels 106.44 and resistance 107.68 until the price can penetrate one of them and clearly define its next targets, noting that breaking the mentioned support will press the price to drop again and head towards 105.20 as the main target.

The expected trading range for today is between 106.70 support and 108.60 resistance

Expected trend for today: sideways

The Australian dollar versus the US dollar continues to fluctuate around the 0.6500 level, stable above it, and it moves inside the main bullish channel that appears in the picture, which supports the continuation of the expected upside scenario for the coming period, which gets continuous support from the EMA50, waiting for the direction towards 0.6685 as the next main station .

Note that the positive outlook will remain valid unless the 0.6407 level is broken and stability below it.

The expected trading range for today is between 0.6460 support and 0.6600 resistance

Expected trend for today: bullish

The euro currency fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce for the third consecutive session from the lowest since April 24 against the US dollar on the cusp of developments and economic data expected on Monday by Italy, the third largest economy in the euro area and amid scarcity Economic data this weekend by the US economy, the largest economy in the world.

At 05:35 am GMT, the euro pair rose against the US dollar by 0.16% to 1.0843 levels, compared to the opening levels at 1.0826, after the pair achieved its highest level during the trading session at 1.0856, while achieving the lowest at 1.0821, with Knowing that the pair started the trading session on a falling price gap after it concluded the trading last week at 1.0839 levels.

Investors are watching the Italian economy for the release of the industrial production, which may explain the decline to 20.0% compared to 1.2% in February. Otherwise, we followed during the weekend reporting to France, Italy and the UK the lowest number of deaths due to the spread The Coronavirus has spread since March, which has boosted investor hopes for the reopening of global economies while easing social divergence measures globally.

On the other hand, yesterday we followed the warning of the US Treasury Secretary Stephen Mnuchen that unemployment rates in his country "may get worse before they improve" and that unemployment rates may have reached 25%, and his statements came hours after the US labor market data showed last Friday the high rates US unemployment rose to nearly seven decades, to 14.7%, with about 20.5 million jobs lost in April due to the outbreak of the Coronavirus.

Technical analysis

The euro against the dollar ended trading last Friday below the level of 1.0840, where SMA 50 managed to stop the recent positive price attempts, which keeps our expectations for the bearish trend in place for the coming period, which targets 1.0700 then 1.0640 levels as the next main stations.

It should be noted that breaching 1.0840 then 1.0860 will stop the suggested decline and lead the price to achieve gains reaching 1.0966 initially.

The expected trading range for today is between 1.0730 support and 1.0900 resistance

Expected trend for today: bearish

Gold prices fluctuated in a narrow range tilted to the upside during the Asian session amid the decline of the US dollar index for the third consecutive session from its highest since April 24, according to the inverse relationship between them amid the scarcity of economic data at the beginning of this week by the American economy, the largest economy in The world is in the shadow of market pricing Monday to reopen global economies.

At exactly 04:37 AM GMT, gold price futures for June delivery rose 0.10% to trade at $ 1,707.70 per ounce compared to the opening at $ 1,706.00 per ounce, knowing that the contracts started the session’s trading on a falling price gap after the week’s transactions ended Last at $ 1,713.90 an ounce, with the US dollar index down 0.10% to 99.71 compared to the opening at 99.81.

We have followed this past weekend reporting to France, Italy and the United Kingdom the lowest number of deaths due to the spread of the coronavirus globally since March, which boosted investor hopes for the reopening of global economies while easing social divergence measures globally, while Caution still remains, as they just followed a warning by South Korea about a possible second wave of coronavirus cases.

In another context, yesterday we followed the warning of the US Treasury Secretary Stephen Mnuchen that unemployment rates in his country "may get worse before they improve" and that unemployment rates may have reached 25%, and his statements came hours after the US labor market data showed last Friday high rates US unemployment rose to nearly seven decades, to 14.7%, with about 20.5 million jobs lost in April due to the outbreak of the coronavirus.

Technical analysis

The price of gold continues to decline gradually to move around the EMA50, as it was affected by the negativity of the stochastic indicator, noting that the indicator reaches the oversold areas in the sale to form a positive incentive that we expect to contribute to pushing the price to resume the main bullish trend.

In general, we continue to favor the bullish trend over the intraday and short term unless 1678.45 level is broken and stability below it, noting that breaching 1724.00 will facilitate the price task by achieving the main positive targets that start at 1747.43 and extend to 1785.00.

The expected trading range for today is between 1690.00 support and 1740.00 resistance

Expected trend for today: bullish

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce to the third session from the lowest since March 17 against the Japanese yen after the Bank of Japan unveiled a summary of opinions report on Sunday and amid the scarcity of economic data at the beginning of this week by the economy The American is the largest economy in the world.

At exactly 05:55 am GMT, the US dollar pair rose against the Japanese yen by 0.26% to 106.93 levels compared to the opening levels at 106.65 after the pair achieved its highest level during the trading session at 107.01, while achieving the lowest at 106.40.

We have followed this past weekend reporting to France, Italy and the United Kingdom the lowest number of deaths due to the spread of the Coronavirus globally since March, which boosted investor hopes for the reopening of global economies while easing social divergence measures globally, while Caution still remains, as they just followed a warning by South Korea about a possible second wave of coronavirus cases.

In another context, yesterday we followed the warning of the US Treasury Secretary Stephen Mnuchen that unemployment rates in his country "may get worse before they improve" and that unemployment rates may have reached 25%, and his statements came hours after the US labor market data showed last Friday high rates US unemployment rose to nearly seven decades, to 14.7%, with about 20.5 million jobs lost in April due to the outbreak of the Coronavirus.

Technical analysis

The dollar against the yen provided positive trades at the end of last Friday to move above 106.44, as it was affected by the positivity of the stochastic indicator, which requires attention from the upcoming trades, as the price needs to trade below this level again to confirm the continuation of the expected bearish trend in the intraday and short term, which targets a level 105.20 as the next stop.

By looking closely at the chart, we find that the recent trading is confined within a possible bearish wedge pattern, which means that breaching 106.85 will stop the suggested negative scenario and lead the price to achieve intraday gains that start with testing the level of 107.68 and may extend to 109.22 in the short term.

The expected trading range for today is between 105.80 support and 107.50 resistance

Expected trend for today: bearish