Analytic reviews

AUDUSD 

The pair is supported as the Chinese economy is recovering and the pandemic’s peak is expected to be passed soon, as well as by RBA’s leaving the interest rates unchanged. As the pandemic subsides, the US dollar will weaken further amid the stimulus measures by the Fed and the Department of the Treasury, which will also support the pair.

Technical side:

The price is below the middle Bollinger band, at SMA 5 and above SMA 14. RSI is above the 50% level and indicates a weakening growth. Stoch are reversing in the overbought zone.

Trading recommendations:

Buy the pair above 0.6200 with a likely further increase to 0.6325.

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

AUDCHF

The overall trend is downward. A reversal wave model has formed, where the waves C H8 and C H2 are truncated. Awesome Oscillator shows a bearish divergence, and Stochastic Oscillator signals overboughtness.

Trading recommendations:

Sell strictly while a descending wave pattern is forming, where wave A breaks through the inclined channel of the ascending pattern of the H8 level. 

A stop loss of 0.6071.

Target levels: 0.5830; 0.5727; 0.5630.

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

#TATN

No new OPEC+ deal has been reached so far. The lack of agreement on oil production cut will lead to a further decrease in oil prices. The oil consumption has decreased, pushing down the prices.

The overall trend is downward. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals overboughtness. A breakout of 574.30 will result in the formation of a 1-2-3 descending pattern within the overall downtrend.

Trading recommendations:

Sell below 574.30.

Stop loss: 622.90.

Target levels: 534.00; 477.00.

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

USDCAD 

OPEC+ is to hold a video conference on Thursday on the proposed oil output cut. The meeting is expected to bring positive results and cause a further local growth in oil prices. This will support commodity currencies, including the Canadian dollar. CAD may continue to get stronger in the future due to the weaker USD and the subsiding impact of the coronavirus pandemic on the global economy.

Technical side:

The price is below the middle Bollinger band, below SMA 5, but above SMA 14. RSI is below 50% and growing. Stoch are growing steadily.

Trading recommendations:

Sell the pair with its probable decline to 1.3930, and then to 1.3775.

The USDCAD 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 fourth session in six sessions from the lowest since March 18 against the Japanese yen after the developments and economic data that it had reported on the Japanese economy and on the cusp of developments and economic data expected today Wednesday from Before the American economy, the largest economy in the world.

At exactly 05:51 am GMT, the US dollar pair rose against the Japanese yen by 0.13% to 108.90 levels compared to the opening levels at 108.76, after the pair achieved its highest level during the trading session at 109.00, while achieving the lowest at 108.51.

We have followed about the Japanese economy, the third largest economy in the world and the third largest industrialized country in the world, to reveal the reading of the machinery orders index, which showed a slowdown in growth to 2.3% compared to 2.9% last January, exceeding expectations that indicated a decline of 2.9%, while The annual reading of the same index showed that the decline widened to 2.4% against 0.3%, also outperforming expectations that indicated a decline of 3.0%.

This came in conjunction with the release of the current account reading, which showed that the surplus widened to 3,169 billion yen compared to 612 billion yen in January, outperforming expectations that the surplus widened to 3,067 billion yen, as the seasonally adjusted reading of the same indicator showed that the surplus widened to What is worth 2,378 billion yen compared to 1,627 billion yen, also better than expectations that the surplus will widen to 2,025 billion yen.

Up to the Japanese Cabinet Office's disclosure of the ECO Watchers statistic reading of the current and future conditions, which showed that the current conditions contraction widened to 14.2 compared to 27.4 last February, worse than the expectations that indicated the expansion of deflation to 22.2, as the reading of future conditions showed that the contraction expanded At 18.8 versus 24.6, it was also worse than expected at 20.0.

It is reported that Japanese Prime Minister Shinzo Abe announced yesterday the state of emergency in the Japanese capital Tokyo and in Osaka in addition to five other cities, explaining that seven cities will be subject to the state of emergency for a month, with his statement that his government will work to ensure the continuation of economic activity as possible and that it is working at the time Currently, the approval of a stimulus package of 108 trillion yen ($ 990 billion).

On the other hand, investors are currently watching the US economy. The Federal Reserve revealed the minutes of the Federal Open Market Committee meeting that took place on March 15th, that surprising meeting, which was the second in less than two weeks after the previous sudden meeting on the third of the same month, which It was recognized that short-term benchmark interest rates would be returned to zero levels.

The members of the Federal Open Market Committee reduced the interest on federal funds at the time by 100 basis points to between zero levels and 0.25%, which remained since 2008 until the meeting of 27-28 October 2015, after reducing them in the previous emergency meeting by 50 points The basis is between 1.50% and 1.75%, and this comes in the wake of the committee members cutting interest three times by 25 basis points in previous meetings last year.

The Federal Reserve's monetary policy statement stated at the time that the reduction decision is from March 16, and that the Federal Open Market Committee will undertake repurchases of treasury bonds with at least $ 500 billion per month and mortgage-backed securities of at least $ 200 billion per month, at least. These purchases are made at the appropriate speed to support the smooth performance of the stock market, treasury and mortgage agency.

Technical analysis

The dollar versus yen is testing the moving average 50, which is an intraday support at 108.60 now, awaiting the breach of this level to confirm the continuation of the expected descending wave for the coming period, which aims at the level of 107.68 as a first station.

The stochastic oscillator reaches overbought areas to support the chances of achieving the required break, so we will continue to suggest the bearish direction over the intraday and short term unless the price rushes to breach the 109.20 level and stability above it.

The expected trading range for today is between 107.70 support and 109.50 resistance.

Expected trend for today: Overall decline.

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session, while the US dollar index resumed its rebound from the lowest since March 17th for the sixth session in nine sessions, according to the inverse relationship between them on the threshold of developments and economic data expected on Wednesday by the economy American and with the evaluation of markets to the developments of the outbreak of the global virus Corona.

At exactly 03:24 AM GMT, gold futures contracts for June delivery rose 0.15% to trade at $ 1,681.20 an ounce compared to the opening at $ 1,678.70 per ounce, knowing that the contracts started the session’s trading on a falling price gap after yesterday's trading was concluded At $ 1,683.70 an ounce, while the US dollar index rose 0.27% to 100.18 compared to the opening at 99.90.

Investors are now looking to the US economy for the Federal Reserve to unveil the minutes of the Federal Open Market Committee meeting that took place on March 15th, that surprising meeting, which was the second in less than two weeks after the previous sudden meeting on the third of the same month, which was approved Federal Reserve monetary policy makers return their short-term benchmark interest rates to zero levels.

The members of the Federal Open Market Committee reduced the interest on federal funds at the time by 100 basis points to between zero levels and 0.25%, which remained since 2008 until the meeting of 27-28 October 2015, after reducing them in the previous emergency meeting by 50 points The basis is between 1.50% and 1.75%, and this comes in the wake of the committee members cutting interest three times by 25 basis points in previous meetings last year.

The Federal Reserve's monetary policy statement stated at the time that the reduction decision is from March 16, and that the Federal Open Market Committee will undertake repurchases of treasury bonds with at least $ 500 billion per month and mortgage-backed securities of at least $ 200 billion per month, at least. These purchases are made at the appropriate speed to support the smooth performance of the stock market, treasury and mortgage agency.

Technical analysis

The price of gold provided noticeable positive trades yesterday, but it returns to the pivotal support test 1644.20, accompanied by the stochastic indicator reaching oversold areas, waiting for the contribution to push the price to rise again and head towards our main target awaited at 1703.25.

Therefore, the bullish trend scenario will remain valid for the coming period, provided stability above 1644.20, noting that breaching this level will press the price to drop towards 1607.70 tentatively before any new positive attempt.

The expected trading range for today is between 1635.00 support and 1680.00 resistance.

Expected trend for today: bullish.

The single currency, the euro, fell during the Asian session to witness its rebound to the seventh session in nine sessions from the top since last March 17 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, the largest economy in the world.

At exactly 05:09 am GMT, the euro pair fell against the US dollar by 0.22% to 1.0868 levels compared to the opening levels at 1.0892 after the pair achieved its lowest level during the trading session at 1.0859, while achieving the highest at 1.0902.

Investors are now looking to the US economy for the Federal Reserve to unveil the minutes of the Federal Open Market Committee meeting that took place on March 15th, that surprising meeting, which was the second in less than two weeks after the previous sudden meeting on the third of the same month, which was approved Federal Reserve monetary policy makers return their short-term benchmark interest rates to zero levels.

The members of the Federal Open Market Committee reduced the interest on federal funds at the time by 100 basis points to between zero levels and 0.25%, which remained since 2008 until the meeting of 27-28 October 2015, after reducing them in the previous emergency meeting by 50 points The basis is between 1.50% and 1.75%, and this comes in the wake of the committee members cutting interest three times by 25 basis points in previous meetings last year.

The Federal Reserve's monetary policy statement stated at the time that the reduction decision is from March 16, and that the Federal Open Market Committee will undertake repurchases of treasury bonds with at least $ 500 billion per month and mortgage-backed securities of at least $ 200 billion per month, at least. These purchases are made at the appropriate speed to support the smooth performance of the stock market, treasury and mortgage agency.

The statement also stated at the time to move forward in conducting forward and night repurchase agreements to ensure that the supply of reserves remains ample and support the smooth performance of the dollar financing markets in the short term, and Federal Reserve Governor Jerome Powell noted at the press conference held after the meeting at the time that the US economy was not It continues to grow despite rapid developments and that the Corona virus has a clear impact on the US and global economy.

Powell said at the time that the repercussions of the virus will be clear in the near term and affect the economic outlook, adding that the global economic weakness will have a negative impact on US exports and that in light of these developments, the Federal Committee decided to cut interest to zero levels and that it is expected to remain on it until the risks are confirmed. The return of the economy to moderate growth, achieving the optimum utilization of the labor market, and achieving the inflation target of 2%.

Powell also noted that the Federal Reserve is coordinating with major central banks such as the Bank of Canada, the Bank of Japan and the Bank of England and that the major banks have agreed to cut interest and that they will work to provide liquidity from the dollar and that the monetary policy in his country was noticeably strict and that he did not think it would be appropriate to resort To the negative benefit in America.

In the same vein, Powell expressed the monetary stimulus required by the American administration, with his statement that the American banking sector is strong and has a lot of capital and liquidity, and it is reported that US President Donald Trump recently signed a stimulus package estimated at $ 2 trillion to support the largest economy In the world, American families and companies are facing the repercussions of the Corona virus after the bill was passed in the US Congress last month.

We would like to point out that US President Trump recently warned that the coming period is "painful" for America, after he announced earlier this month that the quarantine would be extended in the United States until the end of April to reduce the spread of the Corona virus, according to the latest figures released by The organization has increased the number of HIV-positive cases to nearly 1,283 thousand, and 72,774 people have died in 211 countries.

Technical analysis

The euro against the dollar pair begins trading today with a bearish tendency to approach the pivotal support level 1.0840, where the MA 50 formed a good negative pressure against the price, while the stochastic indicator provides negative signals on the four-hour time frame.

Consequently, these factors encourage us to favor the domination of negative trades during the upcoming sessions, and the price needs to break the mentioned support to confirm opening the way towards 1.0700 then 1.0640 levels as the next major targets, noting that a breakout of 1.0966 will stop the suggested negative scenario and push the price for additional gains that reach To 1.1067.

The expected trading range for today is between 1.0750 support and 1.0950 resistance.

Expected trend for today: bearish.

The Australian dollar versus the US dollar shows a bearish tendency after approaching our awaited target at 0.6236 yesterday, and it may test the pivotal support 0.6097 before resuming the positive trading.

Moving average 50 meets the mentioned support to add more strength to it, while the stochastic is trying to get rid of its negative momentum, and therefore, we continue to favor the bullish trend for the next period, provided stability above 0.6097, noting that exceeding 0.6236 will extend the upside wave to reach 0.6407 as a next target.

The expected trading range for today is between 0.6080 support and 0.6236 resistance.

Expected trend for today: bullish.

NZDCHF 

The overall trend is downward. The ascending H4 level pattern is truncated. The inclined channel of the ascending structure is broken. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals overboughtness. A breach of 0.5765 will result in the formation of a descending pattern as part of the overall downtrend.

Trading recommendations:

Sell below 0.5765.

Stop loss: 0.5850.

Target levels: 0.5680; 0.5524.

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

The single currency, the euro, rose during the Asian session to witness its rebound to the second session from the lowest since March 25 against the US dollar on the cusp of developments and economic data expected today Tuesday by the economies of the euro area, which includes the activities of the Eurogroup meetings in Brussels and on the cusp of developments and economic data expected Today, Tuesday, by the US economy, the largest economy in the world.

At exactly 05:47 AM GMT, the euro pair rose against the US dollar by 0.39% to 1.0839 levels compared to the opening levels at 1.0793 after the pair achieved its highest level during the trading session at 1.0840, while achieving the lowest at 1.0784.

Markets by Germany, the euro zone's largest economy, are looking for a seasonally adjusted reading of the industrial production index, which may reflect a 0.7% decline against a rise of 3.0% in January, while the annual reading of the same indicator may show a widening decline to 3.0% compared to 1.3%. Before we saw about France the second economy in the region, the trade balance reading showed that the deficit narrowed to 5.1 billion euros, compared to 5.9 billion euros in January.

Up to the release of the retail sales reading for Italy, the third largest economy in the euro area, which may explain a 0.4% decline against stability at zero levels in January, and this comes in conjunction with the activities of the euro group meetings attended by the finance ministers of the member states in the region, Commissioner of Economic and Monetary Affairs And the European Central Governor, which discusses several financial issues such as mechanisms to support the euro and government funding.

On the other hand, investors are currently awaiting by the US economy the disclosure of labor market data with the release of a job reading and job turnover that may reflect a decrease to 6.55 million compared to 6.96 million in January, and that comes before we witness the release of the consumer credit reading That may show accelerated growth to $ 13.9 billion, compared to $ 12.0 billion in January.

It is noteworthy that US President Donald Trump recently warned that the coming period is "painful" for America, after he announced earlier last month that the quarantine would be extended in the United States until the end of this April to limit the spread of the Corona virus, according to the latest figures issued by The organization has increased the number of cases infected with the virus to nearly 1,215 thousand and 67,841 people were killed in 211 countries

Technical analysis

The euro against the dollar continues to fluctuate in a sideways path, confined between the levels of 1.0775 and 1.0840, and begins today with an upward tendency to approach the mentioned resistance test, noting that the price needs to stabilize below this level to keep the downtrend scenario effective for the coming period, which targets the areas of 1.0700 Then 1.0640 as the next negative stops.

SMA 50 continues to support the suggested bearish wave, noting that a breach of 1.0840 will push the price for intraday gains, whose targets begin by testing the 1.0966 level.

The expected trading range for today is between 1.0700 support and 1.0900 resistance

Expected trend for today: bearish