Analytic reviews

USDJPY 
The pair is growing amid optimistic sentiments in markets, which are assotiated with the easing quarantine measures and based on hopes for the world economy faster recovery of the world leading countries. Investors are hoping for the V-shape of the current crisis. After the strongest drop in March and April, there will be the same drastic growth by the autumn of this year.
Technical side:
The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is under the overbought zone and signals for the steady growth. Stoch are already located in this zone.

Trading recommendations:
Fixing the pair above 107.10 will lead to its local growth to 108.00.
The USDJPY rate online: monitor the movement of the pair in real time.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce for the second session fromthe lowest since March 17th, while it is still in its fourth consecutive weekly losses against the Japanese yen after the developments and economic data that it followed from the Japanese economy On the cusp of developments and economic data expected today, Friday, by the American economy.

At exactly 06:04 am GMT, the US dollar pair rose against the Japanese yen by 0.12% to 106.41 levels compared to the opening levels at 106.28 after the pair achieved its highest level during the trading session at 106.46, while achieving the lowest at 106.22.

On the Japanese economy, we followed the disclosure of the March data with the release of the annual household spending index, which showed that the decline widened to 6.0% compared to 0.3% last February, outperforming expectations that indicated a decline to 6.3%. This came in conjunction with the annual average income reading showing a slowdown in growth to 0.1%, in line with expectations, compared to 0.7%.

On the other hand, investors are currently waiting for the US economy to disclose labor market data with the release of the employment change index for sectors other than agriculture, which may reflect the loss of 22 million jobs compared to the loss of 701 thousand jobs last March, while an average index reading may show Hourly income accelerated growth to 0.5% versus 0.4%. This was with the unemployment rate reading showing a rise to 16.0% to 4.4% in March.

This comes, as we have also witnessed by the largest economy in the world the issuance of the final reading of the wholesale stocks index, which may reflect the stability of the decline at 1.0% during last February, and according to the latest figures issued by the World Health Organization, the number of cases infected with the Coronavirus rose to nearly 3.68 One million 254,199 people were killed in 215 countries.

Technical analysis

The dollar against the yen trades stable below the 106.44 level, to keep the negative pressure in place for the upcoming period, supported by the EMA50, waiting for the resumption of the downtrend whose next target is located at 105.20.

Note that breaching 106.44 will push the price for intraday gains aiming to test 107.68 level before any new attempt to decline.

The expected trading range for today is between 105.20 support and 106.80 resistance.

Expected trend for today: bearish.

The single currency fluctuated the euro in a narrow range tilted to the upside during the Asian session to witness its bounce for the second consecutive session from the lowest since April 24 against the US dollar on the cusp of developments and economic data expected today by the economies of the euro area and the US economy, which includes providing a conservative European Central Bank Christine Lagarde Opening remarks in the electronic version of the State of the Union conference organized by the European University Institute.

At exactly 05:12 am GMT, the euro pair rose against the US dollar by 0.08% to 1.0843 levels, compared to the opening levels at 1.0834, after the pair achieved its highest level during the trading session at 1.0855, while achieving the lowest at 1.0823.

Markets are looking for Germany, the largest economy in the eurozone, to disclose the reading of the current account index for the month of March, in conjunction with the disclosure of the reading of the trade balance index also for Germany, which may show a shrinking surplus to the value of 19.0 billion euros against 21.6 billion euros in February. , And amid expectations of a seasonally adjusted reading of exports and a further decline in the seasonally adjusted reading of imports during March.

Other than that, we followed yesterday the European Central Bank Governor Christine Lagarde expressed concern about the outbreak of a second wave of Coronavirus, and in another context, she also told yesterday German Chancellor Angela Merkel that easing the restrictions of the closure is a major challenge for the German government, while touching that it can The ban is reimposed, if only partially, if coronavirus resumes its spread in Germany.

On the other hand, investors are currently waiting for the US economy to disclose labor market data with the release of the employment change index for sectors other than agriculture, which may reflect the loss of 22 million jobs compared to the loss of 701 thousand jobs last March, while an average index reading may show Hourly income accelerated growth to 0.5% versus 0.4%. This was with the unemployment rate reading showing a rise to 16.0% to 4.4% in March.

This comes, before we also witness by the largest economy in the world, the final reading of the wholesale stocks index, which may reflect the stability of the decline at 1.0% during last February, and according to the latest figures issued by the World Health Organization has increased the number of cases infected with the Coronavirus to nearly 3.68 One million and 254,199 people were killed in 215 countries.

Technical analysis

The euro against the dollar pair shows more bullish tendency to test the resistance 1.0840, which requires attention from the upcoming trading, as a breach of this level followed by a breach of 1.0860 will stop the negative scenario suggested in our recent reports and lead the price to turn towards the rise.

SMA 50 constitutes a continuous negative pressure against the price, while the stochastic indicator loses its positive momentum to enter the overbought areas, which supports the chances of resuming the bearish trend that will remain likely provided the stability is below the above-mentioned levels, noting that we are waiting for a visit to 1.0700 then 1.0640 levels mainly.

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 towards the decline during the Asian session while still in the process of weekly gains after rising yesterday by more than two percent, indicating its best daily performance in two weeks, condoning the decline in the US dollar index for the second consecutive session from its highest since April 24 / April, when he tested the highest for him since the sixth of the same month, according to the inverse relationship between them.

This comes on the cusp of developments and economic data expected today by the American economy, which includes the disclosure of labor market data, which may reflect the high unemployment rates in the United States to its highest in about seven decades with the loss of more than twenty 22 million jobs in the largest economy in The world is caused by an outbreak of the Coronavirus and in the shadow of market pricing for a general trend to ease restrictions and the end of the global closure.

At exactly 04:43 AM GMT, gold price futures for June delivery decreased 0.11% to trade at $ 1,725.30 per ounce compared to the opening at $ 1,727.20 per ounce, knowing that the contracts started the trading session on an upward price gap after it concluded yesterday's trading At $ 1,725.80 per ounce, while the US dollar index fell 0.11% to 99.73 compared to the opening at 99.84.

Investors are currently waiting for the American economy to disclose labor market data with the release of the employment change index for sectors other than agriculture, which may reflect the loss of 22 million jobs compared to the loss of 701 thousand jobs last March, while the average hourly income reading may indicate Growth accelerated to 0.5% versus 0.4%. This was with the unemployment rate reading showing a rise to 16.0% to 4.4% in March.

This comes, before we witness the final reading of the wholesale stocks index, which may reflect the stability of the decline at 1.0% during February. Otherwise, we followed yesterday. US President Donald Trump expressed that the outbreak of the Coronavirus  is worse than the attacks of September 11. On the World Trade Center, adding that the coronavirus could have been stopped from its source, explaining that China was able to control the disease.

We would like to point out that the US Secretary of State Mike Pompeo yesterday accused China of delaying the response to confronting and containing the Coronavirus , explaining that it had not taken its measures quickly enough to avoid the spread of the virus, and it is mentioned that these accusations by the US official for China are the second in less than a week, Where he noted at the weekend that the virus was created from a laboratory in the Chinese city of Wuhan, while the spread was an unintended event.

Technical analysis

The bullish gold price rally stopped near the pivotal resistance that is now dropping to 1725.00, and is affected by the stochastic negativity showing some temporary bearish tendency, waiting for a positive momentum to be paid to push the price above the mentioned level and opening the way towards achieving our expected targets that start at 1747.43 then 1785.00.

In general, we will continue to favor the bullish trend for the next period unless 1678.45 level is broken and stability remains with a daily closing below it.

The expected trading range for today is between 1690.00 support and 1745.00 resistance.

Expected trend for today: bullish.

The Australian dollar pair against the US dollar ended yesterday's trading with a noticeable positive, confirming the penetration of 0.6407 to settle around 0.6500, and begins the day with an additional bullish tendency to support the chances of achieving more gains during the upcoming sessions, so that the bullish direction is expected for this day, and the path is open for heading towards the pre-recorded summit at 0.6685.

SMA 50 supports the expected rise, which will remain valid unless 0.6407 level is broken and stability is above it.

The expected trading range for today is between 0.6430 support and 0.6600 resistance.

Expected trend for today: bullish.

USDCAD

The pair is still moving in a wide range of 1.3860–1.4245. It will continue to decline to its lower limit as the demand for crude oil is increasing, and OPEC++ is reducing the supply volumes to the global market. This trend will continue today, despite the expected poor Canadian labor market data.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is located above the oversold zone and indicates a weakening of the price decline. Stoch are turning up in this zone.

Trading recommendations:

Sell the pair with its probable decline to 1.3860, if it does not grow above 1.3950.

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

#JNJ
The general trend is upward. The downward pattern (assumed correction) is truncated. A bullish divergence has formed on Awesome Oscillator. Price pivot zone of 146.77 holds back sellers.

Trading recommendations:

Buy while an ascending pattern is forming, where wave A breaks the inclined channel of the descending truncated pattern.

Stop loss under the price pivot zone of 146.77.

The target is 156.46.

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

AUDCHF 

The ascending H1 level pattern is truncated (wave C didn’t break through the 88.2% fib level). Awesome Oscillator shows bearish divergence, while Stochastic Oscillator signals overboughtness.

Trading recommendations:

Sell while a descending wave pattern is forming, where wave A breaks through the inclined channel of the ascending truncated H1 level pattern.

Stop loss for the local maximum of the H1 pattern.

Target levels: 0.6283; 0.6220.

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

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its bounce for the third session in four sessions from the lowest since April 24 against the US dollar, following the developments and economic data that it had reported on the Australian economy and on the cusp of developments and economic data expected today Thursday by The American economy, which includes the talk of Federal Open Market Committee member and Chairman of the Federal Reserve Bank of Patrick Harker.

At 02:32 am GMT, the Australian dollar pair rose against the US dollar by 0.25% to 0.6416 levels, which is the highest level for the pair during the trading session compared to the opening levels at 0.6399, while the pair achieved its lowest at 0.6379.

On the Australian economy, we followed the disclosure of the services index reading by the Australian Industrial Group (AIG), which reflected the widening of the contraction to 27.1 compared to 38.7 in April, and this came before we witnessed the release of the Trade Balance Index reading, which indicated the surplus widening to $ 10.60 billion Aussie compared to A $ 3.87 billion in March, contrary to expectations for a surplus of A $ 6.40 billion.

On the other hand, investors are currently awaiting by the US economy the release of the aid claims index for the last week on the second of May, which may reflect a decline of 839 thousand applications to 3,000 thousand requests compared to 3,839 thousand requests in the previous weekly reading, while reading requests may appear The continuous benefit for the last week on the 25th of this month, increasing by 1,913 thousand applications to 19,905 thousand applications compared to 17,992 thousand requests.

This comes in conjunction with the issuance of the initial reading of the single labor cost index, which reflects the acceleration of growth to 4.3% compared to 0.9% in the fourth quarter, while the initial reading of the productivity of the sectors other than agricultural may indicate a decrease of 5.4% against a rise of 1.2%, leading to the participation of the member of the Federal Open Market Committee And the Chairman of the Federal Reserve Bank of Philadelphia at a hypothetical panel discussion on Coronavirus and economic prospects at the Chicago Board of World Affairs.

Technical analysis

The Australian dollar versus the US dollar achieved a break of 0.6407 and closed the daily candle below it, which stops the suggested positive scenario in our recent reports and puts the price under negative pressure again, on the way to visit the 0.6236 level as a first negative target.

Consequently, the downside direction will be expected for the coming period, supported by the negative pressure formed by the EMA50, noting that breaching 0.6407 and holding above it will stop the suggested decline and push the price to recover again.

The expected trading range for today is between 0.6300 support and 0.6450 resistance.

Expected trend for today: bearish.

The single currency fluctuated the euro in a narrow range slanting toward decline during the Asian session to witness its bounce to the fourth session from its top since the beginning of last month against the US dollar on the cusp of developments and economic data expected today Thursday by the economies of the region and the US economy, which includes the talk of a member of the Federal Open Market Committee and Chairman Philadelphia Federal Reserve Patrick Harker on the Chicago Board of World Affairs.

At exactly 05:57 AM GMT, the euro against the US dollar fell 0.04% to 1.0791 levels, compared to the opening levels at 1.0795, after the pair achieved its lowest level during the trading session at 1.0790, while achieving the highest at 1.0805.

Markets are looking for Germany, the largest economy in the euro area, to issue a seasonally adjusted reading of the industrial production index, which may show a 7.3% decline compared to a rise of 0.3% last February before we witness by France, the second-largest economy in the region, the release of the industrial production index, which may Reflect a 12.7% decline versus a 0.9% increase in February.

We are also looking by France for the issuance of the preliminary reading of the wages index in the private sector, which may reflect a 0.3% decline against stability at zero levels in the fourth quarter, in conjunction with the release of the Trade Balance reading for France, which may explain the deficit narrowing to 4.6 billion euros against 5.2 billion euros In February, before we witnessed by Italy, the region's third-largest economy, the retail sales reading was released, which may show a decline of 14.9% compared to a rise of 0.8%.

On the other hand, investors are currently awaiting by the US economy the release of the aid claims index for the last week on the second of May, which may reflect a decline of 839 thousand applications to 3,000 thousand requests compared to 3,839 thousand requests in the previous weekly reading, while reading requests may appear The continuous benefit for the last week on the 25th of this month, increasing by 1,913 thousand applications to 19,905 thousand applications compared to 17,992 thousand requests.

This comes in conjunction with the issuance of the initial reading of the single labor cost index, which reflects the acceleration of growth to 4.3% compared to 0.9% in the fourth quarter, while the initial reading of the productivity of the sectors other than agricultural may indicate a decrease of 5.4% versus an increase of 1.2%, leading to the participation of a member of the Federal Committee and the head of a bank Philadelphia Federal Reserve Patrick Harker at a hypothetical panel discussion on Coronavirus and economic forecasts at the Chicago Council on World Affairs.

Technical analysis

The euro against the dollar trades stable below the 1.0800 barrier, and it moves within a falling channel that appears in the above chart, which supports the continuation of the expected bearish trend scenario for the coming period, whose next targets are located at 1.0700 then 1.0640.

Consequently, the bearish bias will remain likely in the intraday and short term unless the price rushes to breach 1.0840 then 1.0865 levels and stability above it.

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

Expected trend for today: bearish.