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GBPUSD 

The overall trend is upward. The 1.2410 support level is holding back sellers. The descending (blue) pattern ended with the breakout of an inclined channel. Bullish divergence has formed on Awesome Oscillator indicator, and Stochastic Oscillator indicator showed an exit from the oversold zone. Breaking through the resistance level 1.2522 will result in the formation of an ascending wave pattern within the ascending wave (C) of the H12 level.

Trading recommendations:

Buy on the breakout of the resistance level 1.2520 (while an ascending pattern is forming). 

Stop loss: 1.2410.

Target levels: 1.2643; 1.2750.

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

#GAZPROM

The trend continuation pattern Flag has formed on the chart. The support level of 182.60 is holding back sellers, and the price pivot zone of 188.44 is holding back buyers. Bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversold. A breakthrough of the price pivot zone of 188.44 will result in a breakthrough in the descending price channel (the upper border of the flag pattern).

Trading recommendations:

Buy above 188.44.

Stop loss: 182.60.

Target levels: 195.00; 200.00; 211.42.

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

USDJPY

The pair is consolidating below 108.00 as the global demand for risk assets cautious recovers stimulated by the late last week’s news on the successful COVID-19 drug trial in the US. Any positive news in this regard will push the pair to growth.

Technical side:

The price is above the middle Bollinger band, above SMA 5 and SMA 14 which intersect and give a buy signal. RSI is above the 50% level and moves horizontally. Stoch enter the overbought zone.

Trading recommendations:

Buy the pair after it crosses the 108.00 with a likely local target of 109.20.

The USDJPY 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 rebound to the sixth session in ten sessions from its top since March 27 against the Japanese yen, after the economic data that it had reported on the Japanese economy, the third-largest economy in the world and on the threshold of developments and economic data expected today, Friday, by the American economy, the largest economy in the world.

At 06:03 am GMT, the US dollar pair fell against the Japanese yen by 0.18% to 107.73 levels compared to the opening levels at 107.92 after the pair achieved its lowest level during the trading session at 107.65, while achieving the highest at 108.08.

On the Japanese economy, the third-largest industrialized country in the world, we followed the disclosure of industrial sector data with the release of the final reading of industrial production, which showed a decline of 0.3% compared to the previous initial reading for February and expectations at a rise of 0.4% and a rise of 1.0% in January, In conjunction with the industrial reading of the Teratari index, it showed a 0.5% decline compared to a 0.3% rise in January, worse than the expectations that indicated a 0.5% decline.

Otherwise, yesterday we followed the announcement of Japanese Prime Minister Shinzo Abe to expand the state of emergency to include all of Japan, with his statement that the emergency will continue until the sixth of next May, and his call for Japanese citizens not to move from one city to another to contain the spread of the Coronavirus, It is reported that Abe announced on the seventh of this month the imposition of a state of emergency on seven Japanese cities, headed by the then Japanese capital, Tokyo.

On the other hand, investors are currently waiting for the release of the leading indicators by the US economy, which may reflect a decline of 7.1% against a rise of 0.1% in February. Otherwise, we followed yesterday. US President Donald Trump expressed his belief that the outbreak of the Coronavirus in his country had reached its peak and that the coming days will witness a noticeable decline in cases of HIV infections and deaths resulting from it, while touching on the importance of gradually restoring the economy.

Trump also announced, with his announcement of "guidelines" for restarting the economy, that the cost of sustaining the economy has been closed for an excessively long period, and the US federal guidelines issued yesterday recommend documenting the "downward path" in cases of coronavirus and influenza-like illnesses before commuting orders in The house is for citizens of the United States, after which the sunrise in the process of re-opening the country can be done in three stages.

This comes hours after US President Trump stopped his country’s funding of the World Health Organization with harsh criticism of the organization, and it is reported that the organization stated last Monday that the world had not reached the peak of the Coronavirus outbreak, warning of easing restrictions on citizen movements and the possibility of a new wave of coronavirus outbreaks This came after some countries announced plans to reduce the precautionary measures that Germany joined last Wednesday.

According to the latest figures issued by the World Health Organization, the number of cases infected with coronavirus globally has risen to nearly two million, and 131,037 people have died in 213 countries, and we would like to point out because the International Monetary Fund warned last Tuesday that the world economy may witness during this year a contraction by three Percent, which may reflect the worst performance of the global economy since the Great Depression of the 1930s.

Technical analysis

The dollar versus the yen had difficulty crossing the 108.00 barrier yesterday, to start the day negatively and press at the level of 107.68, indicating the return of the downtrend to control the intraday trading, on the way to head towards 106.44, which represents the next negative station.

From here, the downtrend will be expected for today, noting that failure to break 107.68 will lead the price to recover again and visit 108.50 then 109.20 levels.

The expected trading range for today is between 106.70 support and 108.40 resistance.

Expected trend for today: bearish.

Gold price futures fluctuated in a narrow range tilted toward decline during the Asian session, to witness its bounce back to the fourth session from the top since October 5, 2012, condoning the decline in the US dollar index according to the inverse relationship between them after the developments and economic data that they followed from the Chinese economy, the largest consumer Metals globally and on the threshold of developments and economic data expected today by the American economy and with the evaluation of markets for the plans of many countries that aim to reduce precautionary measures against Corona.

At exactly 04:03 AM GMT, gold futures contracts for June delivery fell 1.08% to trade at $ 1,720.00 per ounce compared to the opening at $ 1,738.50 per ounce, knowing that the contracts started the session’s trading on an upward price gap after yesterday’s trading was concluded At $ 1,731.70 an ounce, while the US dollar index fell 0.07% to 99.81 compared to the opening at 99.88.

We have followed a short while ago, the National Bureau of Statistics of China revealed a seasonally adjusted reading for the first-quarter GDP, which showed a contraction of 9.8% in line with expectations against the growth of 1.5% during the last fourth quarter, as the annual reading of the same index showed a contraction of 6.8% compared to growth of 6.1% in The previous annual reading for the fourth quarter, worse than expectations, which indicated a contraction of 6.0%.

The office also revealed the annual reading of the retail sales index, which showed the decline decreased to 15.8% compared to 20.5% in the previous annual reading for the month of February, worse than the expectations that indicated a 10.0% decline, as the annual reading of industrial production showed the decline decreased to 1.1% against 13.5%, beating expectations that indicated a decline of 7.0%, while the reading of unemployment rates showed a decline to 5.9% compared to 6.2% in February.

We would like to point out, because the economic data that we have reported on the Chinese economy are the largest in Asia, the second largest in the world and the second-largest industrialized world in the world. At the end of last year, it spread to the world after that and led to the closure of most of the global economies and reduced the movement of citizens globally.

On the other hand, investors are currently looking ahead by the US economy for the release of the leading indicators that may reflect a decline of 7.1% against a rise of 0.1% in February. Otherwise, we have followed yesterday. US President Donald Trump expressed his belief that the outbreak of the Coronavirus in his country has reached its peak, and that the days will witness a noticeable decline in cases of coronavirus infections and deaths resulting from it, while addressing the importance of gradually restoring the economy.

Trump also announced, with his announcement of "guidelines" for restarting the economy, that the cost of sustaining the economy has been closed for an excessively long period, and the US federal guidelines issued yesterday recommend documenting the "downward path" in cases of coronavirus and influenza-like illnesses before commuting orders in The house is for citizens of the United States, after which the sunrise in the process of re-opening the country can be done in three stages.

This comes hours after US President Trump stopped his country’s funding of the World Health Organization with harsh criticism of the organization, and it is reported that the organization stated last Monday that the world had not reached the peak of the Coronavirus outbreak, warning of easing restrictions on citizen movements and the possibility of a new wave of coronavirus outbreaks This came after some countries announced plans to reduce the precautionary measures that Germany joined last Wednesday.

According to the latest figures issued by the World Health Organization, the number of coronavirus cases globally has risen to nearly two million and 131,037 people have died in 213 countries. Otherwise, last Tuesday, we followed the International Monetary Fund warning that the world economy may witness a deflation this year At three percent, which may reflect the worst performance of the global economy since the Great Depression of the 1930s.

Technical analysis

Gold price shows a more bearish tendency to test the support of the bullish channel that appears in the picture, which requires attention from the upcoming trading, as the continuation of negative pressure and breaking 1700.00 will lead the price to start a descending corrective wave on the intraday basis.

Until now, the bullish trend scenario remains effective provided the stability is above 1700.00, supported by the EMA50 that carries the price from below, noting that breaching 1730.00 will facilitate the price task by heading towards our main waited target at 1775.00.

The expected trading range for today is between 1690.00 support and 1740.00 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 second session from the lowest since the seventh of April, while we are still in the process of weekly gains against the US dollar on the cusp of developments and economic data expected on Friday by the eurozone and the US economy The largest economy in the world.

At 05:41 am GMT, the euro against the US dollar rose 0.25% to 1.0867 levels compared to the opening levels at 1.0840 after the pair achieved its highest level during the trading session at 1.0879, while achieving the lowest at 1.0836.

Markets by Italy, the third-largest economy in the euro area, are awaiting the release of the trade balance reading, which may explain the widening of the surplus to 3.18 billion euros against 0.54 billion euros in January, before the disclosure of inflation data for the eurozone economies as a whole with the release of the annual final reading of the price index Consumers, which may reflect a steady growth of 0.7%, unchanged from the initial reading for the past month and 1.2% in February.

The core annual CPI reading for the eurozone as a whole may also show stability in growth of 1.0%, also little changed from the initial reading and compared to 1.2% in the previous annual reading of February, otherwise, we followed yesterday the European Central Bank Governor Christine Lagarde expressed The fact that the European Central is committed to doing whatever is necessary for its commitments to confront the crisis of the spread of the Coronavirus.

On the other hand, investors are currently waiting for the release of the leading indicators by the US economy, which may reflect a decline of 7.1% compared to a rise of 0.1% in February. Otherwise, we followed yesterday. US President Donald Trump expressed his belief that the outbreak of the Coronavirus in his country had reached its climax, and that the days will witness a noticeable decline in cases of coronavirus infections and deaths resulting from it, while addressing the importance of gradually restoring the economy.

Trump also announced, with his announcement of "guidelines" for restarting the economy, that the cost of sustaining the economy has been closed for an extended length of time, and federal guidelines issued by the US administration yesterday recommend documenting the "downward path" in cases of coronavirus and influenza-like illnesses before commuting orders in The house is for citizens of the United States, after which the sunrise in the process of re-opening the country can be done in three stages.

This comes hours after US President Trump stopped his country’s funding of the World Health Organization with harsh criticism of the organization, and it is reported that the organization stated last Monday that the world had not reached the peak of the Coronavirus outbreak, warning of easing restrictions on citizen movements and the possibility of a new wave of coronavirus outbreaks This came after some countries announced plans to reduce the precautionary measures that Germany joined last Wednesday.

According to the latest figures issued by the World Health Organization, the number of cases infected with coronavirus globally has risen to nearly two million, and 131,037 people have died in 213 countries, and we would like to point out because the International Monetary Fund warned last Tuesday that the world economy may witness during this year a contraction by three Percent, which may reflect the worst performance of the global economy since the Great Depression of the 1930s.

Technical analysis

The euro against the dollar made an attempt to break the 1.0840 level yesterday, but it maintained its cohesion above it, to start the day with an upward trend away from this level. Of gains over the upcoming sessions.

Therefore, a bullish bias will be favored for today, supported by the stochastic positivity, noting that our first target is at 1.0966, while a break of 1.0840 represents a negative factor that will stop the suggested rise and press the price to incur losses starting at 1.0700 then 1.0640.

The expected trading range for today is between 1.0800 support and 1.1000 resistance.

Expected trend for today: bullish.

The Australian dollar pair against the US dollar broke through the level of 0.6315 and ended yesterday's trading above it, to start the day with an upward trend approaching the level of 0.6407, which indicates the price trend to resume the bullish wave within the upward channel that appears in the picture, where the breach of the last level represents the key to the rush towards achieving more Gains of 0.6685 in the short term.

Consequently, the bullish bias will be expected for the upcoming sessions supported by moving above SMA 50, taking into consideration that failure to breach 0.6407 will stop the suggested rise and press the price to drop again.

The expected trading range for today is between 0.6300 support and 0.6470 resistance.

Expected trend for today: bullish.

#T

The overall trend is downward. The 31.15 resistance level is holding back buyers. A bearish divergence has formed on Awesome Oscillator. Breaking through the support level of 29.65 will result in the formation of a 1-2-3 descending pattern within the overall downtrend.

Trading recommendations:

Sell at the breakout of the support level of 29.65.

Stop loss: 31.15.

Target levels: 27.75; 26.16.

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

GBPUSD 

The overall trend is upward. The descending truncated H4 level pattern ended with the breakout of an inclined channel. Bullish divergence has formed on Awesome Oscillator. Breaking through the round secondary level 1.2520 will result in the formation of an ascending wave pattern within the ascending H12 level pattern (wave C).

Trading recommendations:

Buy on the breakout of the round secondary level 1.2520.

Stop loss: 1.2410.

Target levels: 1.2643; 1.2750.

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

AUDUSD

The pair turned up amid optimistic news as Gilead reports successful coronavirus drug Remdesivir trial in Chicago with 125 patients. This stimulated the demand for risk assets in Asia, and the same was observed at the opening of trading in Europe. That positive sentiment will push the pair to local growth.

Technical side:
The price is at the middle Bollinger band, above SMA 5 and SMA 14, which intersect and give a buy signal. RSI is above the 50% level and moves horizontally. Stoch indicate a weakening of the price growth.

Trading recommendations:
Buy the pair after it crosses 0.6380 with the local target of 0.6480.

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