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EURUSD

The pair remains under pressure in anticipation of the final EU economic support decision. If no effective support measures are taken, expect the further decline of the pair.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. Stoch entered the oversold zone.

Trading recommendations:

Sell the pair with probable local targets of 1.0770, and then 1.0715.

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

EURNZD 

The 1.8290 resistance level is holding back buyers. A bearish divergence has formed on Awesome Oscillator and Stochastic Oscillator. The ascending truncated H1 level pattern was completed by breaking through the inclined channel.

Trading recommendations:

Sell while a descending structure is forming below 1.8063.

Stop loss: 1.8290.

Target levels: 1.7870 (close the order and transfer it to breakeven); 1.7700.

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

The Australian dollar rose during the Asian session to witness its bounce to the second session from the lowest since April 9 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 Wednesday by the US economy, the largest economy in the world.

At 02:35 am GMT, the Australian dollar pair rose against the US dollar by 0.57% to 0.6316 levels compared to the opening levels at 0.6280, after the pair achieved its highest level during the trading session at 0.6351, while achieving the lowest at 0.6277.

We have followed the Australian economy to reveal the reading of the leading indicators, which showed a decline of 0.4% compared to a rise of 0.3% last February, and this came before we witnessed the release of the leading indicators reading by the Melbourne Institute, which indicated the widening of the decline to 0.8% compared to 0.4% in February, to reveal the initial reading of the retail sales index, which reflected an acceleration of growth to 8.2%, compared to 0.4% in February.

On the other hand, investors are currently awaiting by the US economy the release of the House Price Index reading, which may explain the acceleration of growth to 0.4% compared to 0.3% last January, and this comes hours after the Senate announced the agreement of the two poles of American policy the ruling Republican Party The Democratic Party has a program to support small businesses in the face of the consequences of the outbreak of the Coronavirus, worth $ 484 billion.

It is reported that US President Trump recently announced his administration's plan to gradually restart and operate the American economy, indicating that the global medical crisis may subside later, while its economic consequences remain, and according to the latest figures issued by the World Health Organization, the number of cases infected with Coronavirus has increased to More than 2.4 million people were killed, 163,097 people in 213 countries.

Technical analysis

The Australian dollar versus the US dollar pair opens with a noticeable rise to try to exceed the EMA50, but it remains below it now, to keep the negative scenario effective for the coming period, waiting for the break of the 0.6236 level to confirm the extension of the descending wave towards 0.6097.

On the other hand, it should be noted that a break of 0.6407 will stop the expected decline and lead the price to resume the bullish trend in the short term.

The expected trading range for today is between 0.6200 support and 0.6380 resistance.

Expected trend for today: bearish.

The single currency fluctuated the euro in a narrow range slanted toward decline during the Asian session to witness its rebound to the fifth session in six sessions from the top since the beginning of April this year against the US dollar amid the scarcity of economic data by the economies of the euro area and on the cusp of developments and economic data expected today Wednesday by The American economy is the largest economy in the world.

At 05:11 am GMT, the euro against the US dollar fell 0.09% to 1.0848 levels, after the pair achieved its lowest level during the trading session at 1.0845, while achieving the highest at 1.0864.

Investors are currently awaiting by the US economy the release of the house price index, which may explain the acceleration of growth to 0.4% compared to 0.3% last January, and that comes hours after the Senate announced the agreement of the two poles of the American Republican Party and the Democratic Party on A program to support small businesses facing the consequences of the $ 484 billion outbreak of the Coronavirus.

Technical analysis

The euro against the dollar ended yesterday's trading above 1.0840 after recent attempts to break it, and gets positive support from the stochastic, while facing continuous negative pressure from the EMA50, to hinder the price attempts to recover.

Consequently, the price is stuck between pivotal levels represented by support 1.0840 and resistance 1.0880, and it needs to penetrate one of them to determine its next direction more accurately, with the indication that breaking the mentioned support will pressure the price to decline towards 1.0700 levels then 1.0640 as the next negative stations, while the breakout of the resistance will lead the price to recover and test Initially 1.0966.

The expected trading range for today is between 1.0740 support and 1.0966 resistance

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

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce for the second session from the lowest since April 6, while the US dollar index rebounded for the fifth session in six sessions from the lowest since 30 March, according to the reverse relationship Between them on the threshold of the expected economic developments and data today, Wednesday, by the US economy, the largest economy in the world, and in light of the market pricing of the repercussions of the outbreak of the Coronavirus globally.

At exactly 03:16 AM GMT, gold price futures for June delivery rose 0.21% to trade at $ 1,706.60 an ounce compared to the opening at $ 1,703.10 per ounce, knowing that the contracts started the session’s trading on an upward price gap after yesterday’s trading was concluded At $ 1,687.80 an ounce, while the US dollar index rose 0.03% to 100.23 compared to the opening at 100.20.

Investors are currently awaiting by the US economy the release of the house price index, which may explain the acceleration of growth to 0.4% compared to 0.3% last January, and that comes hours after the Senate announced the agreement of the two poles of the American Republican Party and the Democratic Party on A program to support small businesses facing the consequences of the $ 484 billion outbreak of the Coronavirus.

It is reported that US President Trump recently announced his administration's plan to gradually restart and operate the American economy, indicating that the global medical crisis may subside later, while its economic consequences remain, and according to the latest figures issued by the World Health Organization, the number of cases infected with Coronavirus has increased to More than 2.4 million people were killed, 163,097 people in 213 countries.

In another context, the markets are still assessing the catastrophe of the oil markets and the sharp fluctuations in the global energy markets in addition to other indications that global companies and banks are making difficult to provide expectations in the shadows of the global closure due to the spread of the Coronavirus globally, and we would like to point out because the collapse of the oil markets indicates that The blow to the global economy will be much worse than what investors who were risk-averse predicted.

Technical analysis

The price of gold ended yesterday's trading above 1678.45, to keep the upside scenario current and effective for the coming period, and it needs to get a positive incentive that contributes to pushing the price towards heading towards our positive goals that start at 1747.43 and extend to 1775.00.

On the other hand, it should be noted that breaking 1678.45 and holding with a daily closing below it will stop the expected rise to make a bearish correction aimed at testing the 1635.80 level initially before any new attempt to rise.

The expected trading range for today is between 1660.00 support and 1720.00 resistance.

Expected trend for today: bullish.

The fluctuation of the US dollar in a narrow range slanted toward decline during the Asian session, to witness its bounce to the seventh session in thirteen sessions from the top since March 27 against the Japanese yen amid the scarcity of economic data by the Japanese economy and on the cusp of developments and economic data expected today Wednesday by The American economy is the largest economy in the world.

At exactly 05:59 am GMT, the US dollar pair fell against the Japanese yen by 0.19% to 107.59 levels compared to the opening levels at 107.80 after the pair achieved its lowest level during the trading session at 107.56, while it achieved its highest at 107.87.

Investors are currently awaiting by the US economy the release of the house price index, which may explain the acceleration of growth to 0.4% compared to 0.3% last January, and that comes hours after the Senate announced the agreement of the two poles of the American Republican Party and the Democratic Party on A program to support small businesses facing the consequences of the $ 484 billion outbreak of the Coronavirus.

It is reported that US President Trump recently announced his administration's plan to gradually restart and operate the American economy, indicating that the global medical crisis may subside later, while its economic consequences remain, and according to the latest figures issued by the World Health Organization, the number of cases infected with Coronavirus has increased to More than 2.4 million people were killed, 163,097 people in 213 countries.

In another context, the markets are still assessing the catastrophe of the oil markets and the sharp fluctuations in the global energy markets in addition to other indications that global companies and banks are making difficult to provide expectations in the shadows of the global closure due to the spread of the Coronavirus globally, and we would like to point out because the collapse of the oil markets indicates that The blow to the global economy will be much worse than what investors who were risk-averse predicted.

Technical analysis

The dollar versus yen pair is back to fluctuate around the 107.68 level, and we notice that the stochastic indicator significantly loses its positive momentum to approach the overbought areas, to form a negative incentive that we expect to contribute to pushing the price down again, where our next negative target is located at 106.44.

Therefore, we believe that opportunities are open for the upcoming sessions, noting that consolidation above 107.68 will stop the suggested bearish bias and push the price for gains that start at 108.40 and extend to 109.22.

The expected trading range for today is between 106.80 support and 108.20 resistance.

Expected trend for today: bearish.

AUDUSD

The pair is rising after yesterday’s drop caused by the collapse in crude oil prices. Today, amid the backdrop of the positive market sentiment, expect a local growth and the formation of the descending flag trend continuation pattern.

Technical side:

The price is at the level of the middle Bollinger band, above the SMA 5 and SMA 14. RSI crosses the bottom-up level of 50% and gives a buy signal. Stoch are also crossing the 50% level.

Trading recommendations:

Buy the pair after it crosses 0.6355 with a likely local target of 0.6445.

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

AUDCAD

The 0.9000 resistance level is holding back buyers. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals overboughtness. An ascending truncated H4 level pattern has formed.

Trading recommendations:

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

Stop loss for the local maximum (0.9000).

Target levels: 0.8800; 0.8680; 0.8480.

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

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

#ROSNEFT

Сrude oil continues to fall in the global markets. Brent was trading at 15 USD per barrel, a price of mid-1999. This is a very serious challenge for crude oil companies. An ascending truncated pattern has formed on the chart (M5). The 306.88 resistance level holds back buyers. Stochastic Oscillator signals overboughtness.

Trading recommendations:

Sell while a descending wave pattern is forming. 

Stop loss for the resistance level of 306.88.

Target levels: 294.00; 270.55; 230.00.

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

The Australian dollar fell during the Asian session to witness its bounce back for the third session in six sessions from its highest since last March 12 against the US dollar after the disclosure of the minutes of the Australian Central Bank meeting and before the expected talk to the Reserve Bank of Australia Governor Philip Lowe in the Australian Central and on the cusp of developments and data The economic expected today, Tuesday, by the US economy, the largest economy in the world.

At exactly 02:26 am GMT, the Australian dollar pair fell against the US dollar by 0.66% to 0.6294 levels compared to the opening levels at 0.6336, after the pair achieved its lowest level during the trading session at 0.6289, while it achieved the highest at 0.6347.

We have followed on from the Australian economy, the Reserve Bank of Australia revealed the minutes of its last meeting held on the seventh of this month, during which the monetary policymakers of the Australian Central Bank decided to fix interest rates at the lowest ever at 0.25%, which came in line with expectations at the time, Investors are now looking to the Reserve Bank of Australia Governor Philip Lowe’s speech “Economic and Financial Modernization” in Sydney.

On the other hand, investors are currently awaiting the release of the housing market data by the US economy with the release of the existing home sales index, which may indicate a 9.5% decline to 5.27 million homes compared to a 6.5% increase at 5.77 million homes last February, according to the latest figures issued by the World Health Organization, the number of cases infected with the Coronavirus has increased to nearly 2.32 million, and 157,970 people have died in 213 countries.

Technical analysis

The Australian dollar versus the US dollar trades bounced lower after approaching the level of 0.6407 yesterday, to start the moving average 50 now, on its way to visit the level of 0.6236, and by looking at the graph, we find that the price draws a double top pattern whose confirmation level is at 0.6265, This means that breaking this level will constitute a negative incentive that pushes the price to exceed the mentioned target and then achieve a further decline during the coming period.

From here, a bearish bias will be favored for today, given that the rally to breach 0.6407 level will stop the expected decline and lead the price to resume the short term bullish wave.

The expected trading range for today is between 0.6200 support and 0.6380 resistance.

Expected trend for today: bearish.