Analytic reviews

The fluctuation of the US dollar in a narrow range tilted toward the decline during the Asian session to witness the highest since the beginning of this April, when he tested the lowest since 18 March last 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 US economy the largest economy in the world.

At 05:50 am GMT, the US dollar pair fell against the Japanese yen by 0.18% to 107.03 levels, compared to the opening levels at 107.22, which is the highest level for the husband during the trading session, while the pair achieved its lowest level in two weeks at 106.93.

Investors are currently awaiting the US economy to reveal a retail sales reading that 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 8.0% compared to 0.5% in February, as well as A substantial reading of the same indicator may also show the widest decline for the worst ever to 4.9% compared to 0.4% in February.

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 35.2 compared to 21.5 in March, before the release of the Industrial Production Index, which may reflect a 4.1% decline compared to It rose 0.6% in February, while an energy utilization rate reading may show a slowdown in the pace of growth to 73.7% compared to 77.0% in February.

Markets are also looking to publish a reading of the wholesale stocks index, which may explain the decline in the decline to 0.4% compared to 0.1% in January, in conjunction with the disclosure of housing market data with the release of the housing index reading by the National Association of Home Builders, which may reflect a decline to 56 versus 72 in February, all the way to the unveiling of the Big Book, which is important because it is published two weeks before the FOMC meeting.

Technical analysis

The dollar versus yen pair confirmed the breaking of the 107.68 level and decreased significantly yesterday, to move away from the aforementioned level and head towards our awaited target at 106.44, which supports the continuation of the bearish trend scenario suggested in our recent reports, supported by the negative pressure that SMA 50 constitutes, noting that a break The mentioned level will push the price to 105.20 directly.

On the other hand, it should be noted that breaching 107.68 and holding above it will stop the suggested decline and push the price to start new recovery attempts targeting mainly the 108.50 then 109.20 levels.

The expected trading range for today is between 106.20 support and 108.00 resistance.

Expected trend for today: bearish.

Gold price futures fluctuated in a narrow range that tilted back down during the Asian session to witness its bounce for the second session from its highest since October 5, 2012, when it tested the highest for it since November 9, 2011, amid the rise in the US dollar index, indicating its bounce from The lowest since March 30, according to the inverse relationship between them, on the cusp of developments and economic data expected today Tuesday by the US economy, the largest economy in the world.

At 04:04 AM GMT, gold futures contracts for June delivery fell 0.19% to trade at $ 1,754.80 per ounce compared to the opening at $ 1,758.10 per ounce, knowing that the contracts started the session’s trading on a falling price gap after yesterday's trading was concluded At $ 1,768.90 an ounce, with the US dollar index rising 0.10% to 98.92 compared to the opening at 98.82.

Investors are currently awaiting the US economy to reveal a retail sales reading that 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 8.0% compared to 0.5% in February, as well as A substantial reading of the same indicator may also show the widest decline for the worst ever to 4.9% compared to 0.4% in February.

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 35.2 compared to 21.5 in March, before the release of the Industrial Production Index, which may reflect a 4.1% decline compared to It rose 0.6% in February, while an energy utilization rate reading may show a slowdown in the pace of growth to 73.7% compared to 77.0% in February.

Markets are also looking to publish a reading of the wholesale stocks index, which may explain the decline in the decline to 0.4% compared to 0.1% in January, in conjunction with the disclosure of housing market data with the release of the housing index reading by the National Association of Home Builders, which may reflect a decline to 56 versus 72 in February, all the way to the unveiling of the Big Book, which is important because it is published two weeks before the FOMC meeting.

In another context, we have followed the World Health Organization expressed last Monday that the world has not reached the height of the Coronavirus outbreak, warning against easing restrictions on citizen movements and the possibility of a new wave of a virus outbreak, and it is reported that US President Donald Trump also tweeted Monday through his personal account on Twitter is one of those who has the power to reopen his country's economy and lift movement restrictions on citizens, not state governors in his country.

We would like to point out, because many state rulers in the United States of America have expressed their refusal to see the Republican President of the United States as authorized to reopen the economy, led by New York State Governor Andrew Como, who stated that Trump is wrong and does not have full authority over the United States, explaining that reopening America must be gradual and balanced and that the tests will determine future decisions, adding that the current tests do not allow reopening.

Technical analysis

Gold price bounced lower after testing the resistance of the bullish sub-channel that appears in the image, and was affected by the negativity of the stochastic indicator, which we notice is trying to gather positive momentum now, approaching the oversold areas in the sale, which supports the chances of resuming the main bullish trend, whose next target is located at 1770.00.

From here, the upside scenario will remain valid for the upcoming period supported by the EMA50, taking into consideration that breaking 1695.00 will press the price to start a descending corrective wave on the intraday basis before returning to rise again.

The expected trading range for today is between 1700.00 support and 1750.00 resistance.

Expected trend for today: bullish.

The single currency fluctuated the euro in a narrow range slanting back down during the Asian session to witness its rebound from the top since the beginning of this April against the US dollar on the cusp of developments and economic data expected today Wednesday by the French economy the second-largest economy in the euro area and its counterpart the American economy the largest economy in the world.

At exactly 05:02 AM GMT, the euro against the US dollar fell 0.05% to 1.0974 levels, which is the lowest level for the husband during the trading session compared to the opening levels at 1.0980, while the pair achieved its highest level during the trading session at 1.0991.

Investors are currently awaiting by the French economy the disclosure of inflation data with the release of the final reading of the consumer price index, which may reflect the stability of stability at zero levels, little changed from what it was in the preliminary reading of the previous month of March and the previous reading of last February. Otherwise, we followed yesterday, French Finance Minister Bruno Lemerre predicted that his country’s economy would shrink 8% this year.

French Minister of Finance Lemerre also noted yesterday, Tuesday, that some sectors such as restaurants and hotels in France will not be able to resume work from May 11 for health security reasons, explaining that partial unemployment continues, and this came hours after the French President Emmanuel expressed Macron earlier this week extended emergency measures in France for a month, as part of efforts to tackle the outbreak of the Coronavirus.

On the other hand, investors are currently awaiting by the US economy the disclosure of 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 8.0% compared to 0.5% in February February, as the core reading of the same indicator may also show the widest decline for the worst ever to 4.9% compared to 0.4% in February.

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 35.2 compared to 21.5 in March, before the release of the Industrial Production Index, which may reflect a 4.1% decline compared to It rose 0.6% in February, while an energy utilization rate reading may show a slowdown in the pace of growth to 73.7% compared to 77.0% in February.

Markets are also looking to publish a reading of the wholesale stocks index, which may explain the decline in the decline to 0.4% compared to 0.1% in January, in conjunction with the disclosure of housing market data with the release of the housing index reading by the National Association of Home Builders, which may reflect a decline to 56 versus 72 in February, all the way to the unveiling of the Big Book, which is important because it is published two weeks before the FOMC meeting.

In another context, we have followed the World Health Organization expressed last Monday that the world has not reached the height of the Corona virus outbreak, warning against easing restrictions on citizen movements and the possibility of a new wave of virus outbreak, and it is reported that US President Donald Trump also tweeted Monday through his personal account on Twitter is one of those who has the power to reopen his country's economy and lift movement restrictions on citizens, not state governors in his country.

We would like to point out, because many state rulers in the United States of America have expressed their refusal to see the Republican President of the United States as authorized to reopen the economy, led by New York State Governor Andrew Como, who stated that Trump is wrong and does not have full authority over the United States, explaining that reopening America must To be gradual and balanced, and that the tests will determine future decisions, adding that the current tests do not allow reopening.

Technical analysis

The euro against the dollar pair breached the level of 1.0966 and closed the daily candle above it, to activate the bullish trend scenario on the intraday and short term, which is organized inside the bullish channel that appears in the picture, waiting for the direction towards 1.1067 as the next main target.

Consequently, the bullish bias will be likely during the upcoming sessions, supported by the EMA50 that carries the price from below, noting that breaking the 1.0966- 1.0950 levels will stop the expected rise and press the price to decline again.

The expected trading range for today is between 1.0900 support and 1.1070 resistance.

Expected trend for today: bullish.

The Australian dollar fell during the Asian session to witness its bounce for the second session from the top since March 12 against the US dollar, following 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 exactly 02:58 am GMT, the Australian dollar pair declined against the US dollar by 0.53% to 0.6408 levels compared to the opening levels at 0.6442, after the pair achieved its lowest level during the trading session at 0.6406, while achieving the highest at 0.6444.

We have followed on from the Australian economy to reveal a reading of the Weissbank consumer confidence index, which indicated the widening decline to 17.7% to a value of 75.6 compared to 3.8% at 91.9 in March, and that comes hours before the disclosure of the Australian labor market data for the past month, which may Reflected an increase to 5.4% compared to 5.1% in February, with the employment change reading showing a loss of 33.0 thousand jobs compared to adding 26.7 thousand jobs.

On the other hand, investors are currently awaiting by the US economy the disclosure of 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 8.0% compared to 0.5% in February February, as the core reading of the same indicator may also show the widest decline for the worst ever to 4.9% compared to 0.4% in February.

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 35.2 compared to 21.5 in March, before the release of the Industrial Production Index, which may reflect a 4.1% decline compared to It rose 0.6% in February, while an energy utilization rate reading may show a slowdown in the pace of growth to 73.7% compared to 77.0% in February.

Markets are also looking to publish a reading of the wholesale stocks index, which may explain the decline in the decline to 0.4% compared to 0.1% in January, in conjunction with the disclosure of housing market data with the release of the housing index reading by the National Association of Home Builders, which may reflect a decline to 56 versus 72 in February, all the way to the unveiling of the Big Book, which is important because it is published two weeks before the FOMC meeting.

Technical analysis

The Australian dollar versus the US dollar pair is testing the support floor that formed above 0.6407 level after penetration previously, and it needs stability above this level to keep the bullish trend valid for the next period, as breaking it will press the price to test 0.6275 then 0.6236 areas before any new attempt to rise.

SMA 50 continues to support the suggested bullish wave, noting that our next main target is at 0.6685.

The expected trading range for today is between 0.6330 support and 0.6510 resistance.

Expected trend for today: bullish.

The US dollar fluctuated in a narrow range slanting back down during the Asian session to witness its bounce to the fifth session in seven 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 on Tuesday by the economy The American is the largest economy in the world.

At exactly 05:51 am GMT, the US dollar pair fell against the Japanese yen by 0.06% to 107.71 levels compared to the opening levels at 107.77, after the pair achieved its lowest level during the trading session at 107.54, while achieving the highest at 107.78.

Investors are currently awaiting by the American economy the release of the import price index, which may explain the widening of the decline to 3.1% compared to 0.5% last February, as the annual reading of the import price index may show a widening decline to 4.6% compared to 1.2% in the previous annual reading For the month of February, otherwise we followed up on some report that touched on the decline in the rate of coronavirus infection in New York.

Technical analysis

The dollar versus yen pair made notable negative trades yesterday to touch our first awaited target at 107.68, and begins to press negatively on this level now in an attempt to confirm its break, reinforcing the expectations of the continuation of the downtrend during the coming period, noting that our next stop is located at 106.44.

SMA 50 constitutes a negative pressure against the price, to continue to suggest the bearish bias today, noting that failure to confirm a break of 107.68 could push the price to achieve immediate gains that start with testing the 108.50 level and it may extend to 109.20 before any new attempt to decline.

The expected trading range for today is between 106.50 support and 108.40 resistance.

Expected trend for today: bearish.

Gold futures rose during the Asian session to witness the highest since October 5, 2012, when I tested the highest for them since the ninth of November 2011 amid the decline in the US dollar index according to the inverse relationship between them after the developments and economic data that we followed today from The Chinese economy is the largest consumer of metals globally and on the cusp of developments and economic data expected by the US economy, the largest economy in the world.

At exactly 04:10 AM GMT, gold futures for June delivery rose 1.08% to trade at $ 1,780.50 per ounce compared to the opening at $ 1,761.50 per ounce, knowing that the contracts achieved their highest in eight years during the trading session at 1,785.00 levels $ Per ounce, with the US dollar index down 0.20% to 99.18 compared to the opening at 99.38.

We have followed on from the Chinese economy the release of the Trade Balance Index reading, which showed a surplus of 139 billion yuan, equivalent to $ 19.9 billion, compared to a deficit of 43 billion yuan, equivalent to $ 7.1 billion last February, contrary to expectations that indicated a surplus With a value of 175 billion yuan, equivalent to $ 19.7 billion, with the decrease in exports and the increase in imports during the past month.

On the other hand, investors are currently awaiting by the US economy the release of the import price index, which may explain the widening decline to 3.1% compared to 0.5% in the previous reading in February, as the annual reading of the import price index may show a widening decline to 4.6% compared to 1.2 % In the previous annual reading for February.

This comes hours before the disclosure tomorrow, Wednesday, of the retail sales index reading, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product of the United States, and which may reflect its largest decline in decades due to the repercussions of the spread of the Corona virus in the United States. In America recently.

It is noteworthy that Federal Reserve Governor Jerome Powell noted last Thursday in his speech about his country's satellite economy at the Brookings Institution because unemployment rates may rise strongly temporarily and that there will be entities that need direct financial support, while stating that the Federal Reserve has the ability to lend, Except that he does not have the ability to spend.

Powell also expressed at the time that there are signs that the recovery may be strong when it occurs, while addressing the fact that the conditions in the markets have generally improved following the measures taken by the Federal Reserve, and this came in the wake of his assertion that the Federal Reserve still has enough space to take More actions and incentives to support the world's largest economy.

Powell's comments came at the time after the Federal Reserve suddenly announced Thursday that $ 2.3 trillion in loans would be provided to support the economy and that it was working to provide assistance to all families and workers in American companies of all sizes, and according to the latest figures issued by the World Health Organization, the number of cases has increased Affected by nearly 1.78 million, 11,828 people were killed in 213 countries.

Other than that, we followed Thursday, European Central Bank Governor Christine Lagarde expressed the fact that there could be forms of European solidarity, explaining that this could be done by spending a joint budget or a reconstruction fund, while touching the fact that the value of the euro is stable at the time The current level of the euro is good compared to other currencies.

The European Central Bank's Lagarde governorate also reported at the time that the European Central wanted to see high inflation rates, and that it would work to ensure the transfer of its policy to the entire euro area, adding that it should not focus only on bonds facing the Corona virus, and this came in conjunction with the agreement of the European Union finance ministers at the time. On a stimulus package worth 540 billion euros ($ 590 billion) to combat the economic consequences of the global epidemic.

Technical analysis

Gold price confirmed the breach of 1703.25 level after the daily candle closed above it, reinforcing expectations for more gains in the short and medium term, and the path is open for heading towards our next target which is located at 1770.00.

Consequently, the bullish trend will remain dominant during the upcoming sessions, supported by the EMA50, noting that breaking the 1703.25 level will press the price to start a descending correction wave over the intraday basis before any new attempt to rise.

The expected trading range for today is between 1700.00 support and 1750.00 resistance.

Expected trend for today: bullish.

Gold futures rose during the Asian session to witness the highest since October 5, 2012, when I tested the highest for them since the ninth of November 2011 amid the decline in the US dollar index according to the inverse relationship between them after the developments and economic data that we followed today from The Chinese economy is the largest consumer of metals globally and on the cusp of developments and economic data expected by the US economy, the largest economy in the world.

At exactly 04:10 AM GMT, gold price futures for June delivery rose 1.08% to trade at $ 1,780.50 per ounce compared to the opening at $ 1,761.50 per ounce, knowing that the contracts achieved their highest in eight years during the trading session at 1,785.00 levels $ Per ounce, with the US dollar index down 0.20% to 99.18 compared to the opening at 99.38.

We have followed on from the Chinese economy the release of the Trade Balance Index reading, which showed a surplus of 139 billion yuan, equivalent to $ 19.9 billion, compared to a deficit of 43 billion yuan, equivalent to $ 7.1 billion last February, contrary to expectations that indicated a surplus With a value of 175 billion yuan, equivalent to $ 19.7 billion, with the decrease in exports and the increase in imports during the past month.

On the other hand, investors are currently awaiting by the US economy the release of the import price index, which may explain the widening decline to 3.1% compared to 0.5% in the previous reading in February, as the annual reading of the import price index may show a widening decline to 4.6% compared to 1.2 % In the previous annual reading for February.

This comes hours before the disclosure tomorrow, Wednesday, of the retail sales index reading, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product of the United States, and which may reflect its largest decline in decades due to the repercussions of the spread of the Coronavirus in the United States. In America recently.

It is noteworthy that Federal Reserve Governor Jerome Powell noted last Thursday in his speech about his country's satellite economy at the Brookings Institution because unemployment rates may rise strongly temporarily and that there will be entities that need direct financial support while stating that the Federal Reserve has the ability to lend, Except that he does not have the ability to spend.

Powell also expressed at the time that there are signs that the recovery may be strong when it occurs while addressing the fact that the conditions in the markets have generally improved following the measures taken by the Federal Reserve, and this came in the wake of his assertion that the Federal Reserve still has enough space to take More actions and incentives to support the world's largest economy.

Powell's comments came at the time after the Federal Reserve suddenly announced Thursday that $ 2.3 trillion in loans would be provided to support the economy and that it was working to provide assistance to all families and workers in American companies of all sizes, and according to the latest figures issued by the World Health Organization, the number of cases has increased Affected by nearly 1.78 million, 11,828 people were killed in 213 countries.

Other than that, we followed Thursday, European Central Bank Governor Christine Lagarde expressed the fact that there could be forms of European solidarity, explaining that this could be done by spending a joint budget or a reconstruction fund while touching the fact that the value of the euro is stable at the time The current level of the euro is good compared to other currencies.

The European Central Bank's Lagarde governorate also reported at the time that the European Central wanted to see high inflation rates, and that it would work to ensure the transfer of its policy to the entire euro area, adding that it should not focus only on bonds facing the Corona virus, and this came in conjunction with the agreement of the European Union finance ministers at the time. On a stimulus package worth 540 billion euros ($ 590 billion) to combat the economic consequences of the global epidemic.

Technical analysis

The euro against the dollar pair opens the trading today positively to approach the pivotal resistance test 1.0966, which represents one of the keys to the next direction besides the support of 1.0840, and as we indicated in our recent reports, the price needs to penetrate one of these levels to determine the next direction more accurately, which keeps our neutral position standing So far, noting that the positivity of the stochastic and the moving average 50 provides an advantage to the upside in the upcoming sessions.

We point out that breaching the mentioned resistance will open the way for a return to the bullish correctional path whose next target is at 1.1067, while breaking the support represents a negative factor that will pressure the price to resume the main downside trend whose first target is at 1.0700 and extends to 1.0640.

The expected trading range for today is between 1.0840 support and 1.1067 resistance.

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

The Australian dollar rose during the Asian session to witness its bounce back to the fourteenth session in nineteen sessions from the lowest since October 21, 2002 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 American economy The largest economy in the world.

At exactly 02:27 am GMT, the Australian dollar pair rose against the US dollar by 0.63% to 0.6422 levels compared to the opening levels at 0.6382, after the pair achieved its highest level since March 12 at 0.6432, while achieving the lowest during trading The session is at 0.6376.

On the Australian economy, we have followed the disclosure of the Australian National Bank’s business confidence index reading, which showed that the deflation widened to 66 versus 2 in the previous reading last February, while the same indicator of confidence in the current conditions showed a contraction of 21 versus stability At zero levels in the previous reading for February.

On the other hand, investors are currently awaiting by the US economy the release of the import price index, which may explain the widening decline to 3.1% compared to 0.5% in the previous reading in February, as the annual reading of the import price index may show a widening decline to 4.6% compared to 1.2 % In the previous annual reading for February.

Other than that, the markets are now looking by the Chinese economy, Asia’s largest economy, Australia’s largest trading partner and the second largest economy in the world after the United States, to reveal a reading of the Trade Balance Index, which shows a surplus of 175 billion yuan, or $ 19.7 billion, against a deficit of its value 43 billion yuan, or $ 7.1 billion, last February, with expectations for a decrease in exports and a rise in imports during the past month.

Technical analysis

The Australian dollar versus the US dollar succeeded in touching our extended target 0.6407, and it is breaching it now, paving the way for more gains in the short term, as we tend to head towards the previously recorded top at 0.6685 as the next main station.

Therefore, the bullish trend will remain dominant during the upcoming sessions, supported by SMA 50, which continues to carry the price from below, noting that a break of 0.6407 will stop the current rise and put the price under negative pressure targeting testing 0.6236 areas before any new attempt to rise.

The expected trading range for today is between 0.6350 support and 0.6550 resistance

Expected trend for today: bullish.

USDJPY

The pair received support at 107.50. It has every chance to turn up amid the growth of cautious optimism due to decreasing number of coronavirus death in Europe and the US, as well as positive economic statistics from China published today. This may serve as a basis for local growth of the pair.
Technical side:

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is above the oversold zone and moves horizontally. Stoch are turning up.

Trading recommendations:

 Buy a pair with its likely growth to 109.20.

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

NZDUSD

The currency pair is trading in the range of the round important level 0.6100. The ascending patterns of H8 and H4 are truncated. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals overboughtness. The correction of the price below the round secondary level of 0.6080 will result in the breaking through the inclined channel of the ascending truncated H4 level pattern.

Trading recommendations:
Sell while the downward pattern is forming strictly below the round background level 0.6080.

Stop loss: 0.6130.

Target levels: 0.5985; 0.5880.
The NZDUSD rate online: monitor the movement of the shares in real time.