Analytic reviews

The fluctuation of the US dollar in a narrow range tilted to the upside during the Asian session, to witness its bounce for the second session from the lowest since March 18 against the Japanese yen, following the developments and economic data that were reported by the Japanese economy and on the cusp of developments and economic data expected Thursday by the US economy The largest economy in the world.

At exactly 05:59 AM GMT, the US dollar pair rose against the Japanese yen by 0.11% to 107.29 levels compared to the opening levels at 107.17, after the pair achieved its highest level during the trading session at 107.57, while achieving the lowest at 107.05.

We have followed about the Japanese economy revealing the annual reading of the monetary base index by the Bank of Japan, which showed a slowdown in the pace of growth to 2.8% compared to 3.6% last January, worse than expectations that indicated a slowdown in the pace of growth to 3.5%, and it is reported that The Japanese central bank has started using this indicator as its main operating objective for the monetary base scheme since April of 2013.

Otherwise, yesterday we followed the announcement of Japanese Prime Minister Shinzo Abe about his government’s decision to detain all expatriates from outside Japan for a period of 14 days in quarantine, including the Japanese decision coming from abroad, as well as announcing the ban on those coming from 49 foreign countries to his country until notification Another, and this came hours after a Japanese government spokesman expressed the priority for the time being to bring the spread of the Coruna virus under control.

A Japanese government spokesman also noted yesterday, Wednesday, that the current situation does not require the government to resort to establishing a state of emergency in Japan, denying the report that touched on the possibility of Japan declaring a state of emergency at the beginning of this month, with his assertion that the government is doing everything in its power to support employment. And the stability of the third largest economy in the world, explaining that his country is on the verge of declaring a state of emergency for the coronavirus, but the time has not yet come.

In another context, we also followed yesterday, Bank of Japan Governor Haruhiko Kuroda expressed his admission that central banks cannot deliver banknotes printing for an extended period without borders, with his insistence that his country does not face a crisis in price stability at the moment, and informed him that the Bank of Japan does not Inflation growth continues to target around 2%, and in order to do so, it will adjust monetary policy when needed to maintain price stability.

On the other hand, investors are currently awaiting by the US economy the release of the index of subsidy requests for the last week on March 28, which may reflect an increase of 217 thousand requests to 3,500 thousand applications compared to 3,283 thousand requests in the previous weekly reading, and this comes in conjunction with the issuance Reading the merchandise trade balance index, which may explain the deficit narrowing to $ 40.6 billion, compared to $ 45.3 billion in February.

This also comes in conjunction with the disclosure of the initial reading of the wholesale stocks index, which may show a 0.2% increase compared to a 0.5% decline in February. Otherwise, we followed yesterday by President Donald Trump's warning that the coming period is "painful" for his country, and this came after His announcement last Sunday of the extension of guidelines for social restrictions in America until the end of this month as part of efforts to reduce the spread of the Corona virus.

It is reported that US President Trump recently signed a stimulus package estimated at $ 2 trillion to support the largest economy in the world and American families and companies in facing the repercussions of the Corona virus in the wake of the bill’s passage in the US Congress last week, and according to the latest figures released by the organization, the number of cases has increased. More than 827,000 people were infected with the virus, and 40,777 people died in 205 countries.

Technical analysis

The dollar versus the yen confirmed the breach of the 107.68 level after the daily candle closed below it, reinforcing the expectations to continue the decline in the intraday and short term, and the way is open to achieving our awaited target located at 106.44.

Therefore, the negative pressure will remain in control during the upcoming sessions, and breaking the targeted level will extend the descending wave to reach 105.20, noting that breaching 107.68 and holding above it might push the price to test the areas of 109.20 before any new attempt to decline.

The expected trading range for today is between 106.45 support and 108.20 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 rebound to the fifth session in seven sessions from its highest since the ninth of March, when it tested the highest since December 18, 2012 amid the rebound of the US dollar index for the third session In five sessions from the lowest since 17 March, according to the inverse relationship between them, on the cusp of developments and economic data expected today, Thursday, by the US economy and in the shadow of concern about the repercussions of the outbreak of the global corona virus.

At exactly 03:23 AM GMT, gold price futures for June delivery decreased 0.32% to trade at $ 1,597.30 per ounce compared to the opening at $ 1,602.40 per ounce, knowing that the contracts started the trading session on an upward price gap after it concluded yesterday's trading At $ 1,591.40 an ounce, with the US dollar index rising 0.14% to 99.66 compared to the opening at 99.52.

Investors are currently awaiting by the American economy the release of the aid requests index for the last week on March 28, which may reflect an increase of 217 thousand requests to 3,500 thousand requests compared to 3,283 thousand requests in the previous weekly reading, and this comes in conjunction with the release of the index index reading Commercial Goods, which may explain deficit shrinkage to $ 40.6 billion, compared to $ 45.3 billion last February.

This also comes in conjunction with the disclosure of the initial reading of the wholesale stocks index, which may show a 0.2% increase compared to a 0.5% decline in February. Otherwise, we followed yesterday by President Donald Trump's warning that the coming period is "painful" for his country, and this came after His announcement last Sunday of the extension of guidelines for social restrictions in America until the end of this month as part of efforts to reduce the spread of the Corona virus.

It is noteworthy that US President Trump recently signed a stimulus package estimated at $ 2 trillion to support the largest economy in the world and American families and companies in facing the repercussions of the Corona Virus following the passing of the bill in the US Congress last week, and according to the latest figures issued by the organization, the number of cases has increased More than 827,000 people were infected with the virus, and 40,777 people died in 205 countries.

In another context, we followed last Monday the announcement of the Russian Central Bank, the largest buyer of gold globally, about its intention to stop its purchase of gold at the beginning of April, and he did not provide reasons for that suspension, with his statement that his future decisions will depend on the state of the financial markets, and we would like to point out that the outbreak Corona caused hundreds of flights to be stopped, preventing the transport of gold and disrupting global supply chains, and Russia's reserves are estimated until the end of February, according to the latest data of the Russian Central Bank at about 73.6 million ounces, or about $ 119.8 billion.

Technical analysis

The gold price tested the level of 1571.20 and maintained its stability above it, while the stochastic index starts to rise to provide positive signals that support the chances of resuming the bullish bias during the upcoming sessions, waiting for the 1599.10 level to be tested initially, noting that penetration of this level is required to confirm the continuation of the bullish wave and achieve positive goals that begin At 1633.60 it extends to 1689.30.

From here, we continue to favor the bullish trend over the intraday and short term provided that the price maintains the daily closing stability above 1571.20 level

The expected trading range for today is between 1570.00 support and 1610.00 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 bounce to the fifth session from the top since March 17 against the US dollar on the threshold of developments and economic data expected Thursday by the economies of the euro area and the US economy the largest economy in the world.

At exactly 04:40 am GMT, the euro against the US dollar fell 0.26% to 1.0936 levels compared to the opening levels at 1.0964 after the pair achieved its lowest level during the trading session at 1.0930, while achieving the highest at 1.0968.

The markets are looking to Spain, the region’s fourth largest economy, to publish a reading of the unemployment change index, which may show a rise of 27.7 thousand, compared to a decline of 7.8 thousand last February. This comes before we witness about the economies of the region as a whole the disclosure of the PPI reading, which is an indicator In principle, inflationary pressures may reflect a 0.2% contraction versus a 0.4% growth last January, while the annual reading of the same indicator may show the contraction widening to 0.8% compared to 0.5% in the previous annual reading for January.

On the other hand, investors are currently awaiting by the US economy the release of the index of subsidy requests for the last week on March 28, which may reflect an increase of 217 thousand requests to 3,500 thousand applications compared to 3,283 thousand requests in the previous weekly reading, and this comes in conjunction with the issuance The merchandise trade balance index reading, which may explain the deficit narrowing to $ 40.6 billion compared to $ 45.3 billion last February, and with the initial reading of the wholesale inventory index showing a 0.2% increase compared to a 0.5% decline in February.

Technical analysis

The euro against the dollar ended yesterday's trading below the level of 1.0966, and confirmed the completion of the formation of the head and shoulders pattern that appears in the above chart, where he conducted a retest of the broken neckline and maintains its stability below him, so that the negative impact of this model remains effective, waiting for the trend towards 1.0840 as a negative target first.

Therefore, we will continue to favor the bearish trend during the upcoming sessions, noting that breaching the mentioned level will extend the descending wave to reach 1.0700 then 1.0640 as the next main stations, while the expected decline will remain effective unless the price is able to breach the 1.0966 level and hold above it.

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

The Australian dollar pair against the US dollar ended yesterday's trading below the 0.6097 level, which puts the price under expected negative pressure during the coming period, on its way to test the level of 0.5958 initially, noting that breaking this level will push the price to 0.5787 as a next negative target.

Therefore, a bearish bias will be favored for this day unless the price breaches the 0.6097 level and holds above it again.

The expected trading range for today is between 0.5960 support and 0.6160 resistance.

Expected trend for today: bearish.

#JNJ

The overall trend is downward. The stock is trading in the range of the upper limit of the downward price channel. Stochastic Oscillator signals overboughtness. A breakout of the price pivot zone 126.12 will result in the formation of a downtrend 1-2-3 within the general downtrend.

Trading recommendations:

Sell below 126.12.

Stop loss: 134.00.

Target levels: 120.00; 109.33.

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

USDSEK

The overall trend is upward. The descending truncated H4 level pattern ended with a breakout of the inclined channel. Bullish divergence has formed on Awesome Oscillator. A breakout of 10.0845 will result in the formation of an ascending H1 level pattern within the overall uptrend.

Trading recommendations:

Buy above 10.0845.

Stop loss: 9.8620.

Target levels: 10.2118 (close the order and transfer it to breakeven); 10.4580.

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

USDCAD

The pair is gradually declining amid the strong growth in crude oil prices which rose more than 10%. The positive opening in Europe, as well as the positive movement of the US stock index futures, may support a further local decline of the pair. In general, a flat trend is expected in the near future in the currency market.

Technical side:

The price is below the middle Bollinger band, below PMA 5 and SMA 14. Moving Averages suggest selling. RSI has crossed the level of 50% and is declining. Stoch are also falling steadily.

Trading recommendations:
Sell the pair after it goes below 1.4060 with the local target of 1.3930.

USDCAD course online: follow the movement of the pair in real time.

The fluctuation of the US dollar in a narrow range tilted toward retreat, to witness its bounce to the fifth session in seven sessions from the top since February 21 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 by the US economy The largest economy in the world.

At exactly 05:53 AM GMT, the US dollar pair fell against the Japanese yen by 0.06% to 107.48 levels compared to the opening levels at 107.54, after the pair achieved its lowest level during the trading session at 107.26, while achieving the highest at 107.94.

This has been followed up on the Japanese economy by revealing the data of the industrial and services sector for the first quarter with the release of the Tankan Industrial Index reading, which showed a contraction to what is worth 8 against stability at zero levels in the fourth quarter, outperforming the expectations that indicated a contraction of 10, while the reading of the Tankan Service Index showed a contraction Widening to 8 versus 20 in the fourth quarter, also outperforming expectations for 3-contraction.

This came before we saw the final reading of the manufacturing PMI by Markit of Japan, the third largest industrialized country in the world, which showed a contraction of 44.8 during March, worse than expectations that the contraction shrank to 44.8 and a contraction of 47.8 in February, otherwise Yesterday, we followed up, Japanese Economy Minister Toshimitsu Motegi expressed the Japanese government's work on a new economic package to protect jobs and jobs.

On the other hand, investors are currently awaiting by the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the loss of 150 thousand jobs compared to 183 thousand added jobs in February, and this comes hours before the disclosure after Tomorrow, Friday, the monthly report for jobs except agricultural and unemployment rates, in addition to the average hourly earnings for the month of March.

Markets are also looking to reveal the final reading of the manufacturing PMI by Markit for the United States, which may reflect the widening contraction to 48.2 compared to 49.2 in the initial reading last month and against expansion at 50.7 in February, before we witness the release of the spending index reading On construction, which shows growth slowed to 0.6% versus 1.8% in January.

This comes in conjunction with the disclosure also by the largest industrialized country in the world about the reading of the Institute of Industrial Supply index, which may show a contraction to 44.9 compared to a expansion at 50.1 in February, while a reading of the Institute of Industrial Supply measured in prices may indicate the extent of the contraction to 41.6 Versus 45.9, and we would like to point out, because the reading at a value of 50 or higher reflects a widening, while its reading below 50 indicates a contraction.

Technical analysis

The dollar versus the yen has significantly resumed its negative trading to begin attacking the 107.68 level, which supports the continuation of our expectations for the downside trend effectively during the coming period, noting that the price closed the daily candle below the mentioned level to pave the way for heading towards our next negative target which is located at 106.44.

SMA 50 continues to press negatively on the price, to continue to suggest the bearish trend on the intraday and short term, provided stability below 109.20.

The expected trading range for today is between 106.80 support and 108.60 resistance

Expected trend for today: bearish

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session to witness its rebound from the lowest since March 24, when it reflected the best daily performance since September 17, 2008 amid the dollar index resumed its rebound from the lowest since March 17 / March for the second session in four sessions according to the inverse relationship between them on the threshold of developments and economic data expected today, Wednesday, by the US economy.

At exactly 04:10 AM GMT, gold futures contracts for June delivery rose 0.47% to trade at $ 1,596.90 per ounce compared to the opening at $ 1,589.40 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded yesterday's trading At $ 1,596.60 an ounce, with the US dollar index rising 0.15% to 99.12 compared to the opening at 98.97.

Investors are currently awaiting by the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the loss of 150,000 jobs compared to 183,000 added jobs in February, and this comes hours before the disclosure after Friday Monthly report of jobs except agricultural and unemployment rates in addition to the average hourly earnings for the month of March.

Markets are also looking to reveal the final reading of the manufacturing PMI by Markit for the United States, which may reflect the widening contraction to 48.2 compared to 49.2 in the initial reading last month and against expansion at 50.7 in February, before we witness the release of the spending index reading On construction, which shows growth slowed to 0.6% versus 1.8% in January.

This comes in conjunction with the disclosure also by the largest industrialized country in the world about the reading of the Institute of Industrial Supply index, which may show a contraction to 44.9 compared to a expansion at 50.1 in February, while a reading of the Institute of Industrial Supply measured in prices may indicate the extent of the contraction to 41.6 Versus 45.9, and we would like to point out, because the reading reading at a value of 50 or higher reflects a widening, while its reading below 50 indicates a contraction.

It is noteworthy that US President Donald Trump recently signed a stimulus package estimated at $ 2 trillion to support the largest economy in the world and American families and companies in facing the repercussions of the Corona virus, after the package was passed by the US Congress last week, and Trump approved last Sunday the extension Guidelines for social restrictions in the United States until next April 30.

Other than that, today we followed the disclosure of the industrial sector data for China, the second largest economy in the world and the second largest industrialized country globally, with the release of the Caixin manufacturing PMI reading by Markit for China, which showed expansion of 50.1 compared to a contraction at 40.3 in February , Outperforming expectations for a contraction of 45.0.

This came hours after the China Federation of Logistics and Procurement (CFLP) disclosed yesterday the industrial and service sector data for March, which showed expansion in the wake of the worst performance in its history in February due to the quarantine and closure implications that China recently adopted as part of the efforts. Aiming to reduce the spread of the Coronavirus, which started in Wuhan, China.

Last Monday, we followed the announcement of the Russian Central Bank, the world's largest buyer of gold, of its intention to stop its purchase of gold at the beginning of April, and did not provide reasons for that suspension, while stating that its future decisions will depend on the state of the financial markets, and we would like to point out that the outbreak of the Corona virus caused Stopping hundreds of flights, which prevents the transport of gold and disrupts global supply chains, and Russia's reserves are estimated until the end of February, according to the latest data of the Russian Central Bank at about 73.6 million ounces, or about $ 119.8 billion.

Technical analysis

The decline in the price of gold stopped at the pivotal support 1571.20, which represents the support level of the main bullish channel that meets the 50% Fibonacci correction level, noting that the stochastic indicator continues to provide oversold signals in the sale, which provides positive opportunities to resume the main bullish trend during the upcoming sessions, pending Test levels of 1599.10 then 1633.60 initially.

Thus, we are likely to witness positive trading today, so that the bullish scenario will remain intact and active in the intraday and short term provided that the price maintains its stability above 1571.20.

The expected trading range for today is between 1570.00 support and 1610.00 resistance

Expected trend for today: bullish

The single currency euro fell during the Asian session to witness its bounce to the fourth session from the top since March 17 against the US dollar on the threshold of developments and economic data expected today Wednesday by the economies of the euro area and the US economy the largest economy in the world.

At exactly 05:02 AM GMT, the euro against the US dollar fell 0.13% to 1.1017 levels compared to the opening levels at 1.1031 after the pair achieved its lowest level during the trading session at 1.1006, while it achieved the highest at 1.1039.

Markets are looking by Germany, the region’s largest economy, to reveal the retail sales index reading, which may reflect a slowdown in growth to 0.1% versus 0.9% in January, as the annual reading of the same indicator may show a slowdown in growth to 1.5% against 1.8%, before For Spain, the region's fourth largest economy, to see the Manufacturing PMI reading, which may reflect a contraction to 44.0 versus an expansion of 50.4 in February.

This comes before we witness the disclosure of the reading of the manufacturing PMI for Italy, the third largest economy in the euro area, which may explain the widening of the contraction to 41.1 compared to 48.7 in February, and before the release of the final reading of the industrial purchasing managers index from France, the second largest economy in the euro area, which may reflect The contraction stabilized at 42.9 compared to 49.8 in February.

Up to the final reading of the Manufacturing PMI for Germany and the economies of the eurozone as a whole, which may explain the extent of the contraction to 45.6 compared to 45.7 in Germany and 48.0 in February, and also the expansion of the contraction to 44.7 compared to 44.8 in the region as a whole and 49.2, before we also witness about the economies The region as a whole discloses labor market data with the release of the unemployment rate reading, which may show stability at 7.4% during February.

On the other hand, investors are currently awaiting by the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the loss of 150 thousand jobs compared to 183 thousand added jobs in February, and this comes hours before the disclosure after Tomorrow, Friday, the monthly report for jobs except agricultural and unemployment rates, in addition to the average hourly earnings for the month of March.

Markets are also looking to reveal the final reading of the manufacturing PMI by Markit for the United States, which may reflect the widening contraction to 48.2 compared to 49.2 in the initial reading last month and against expansion at 50.7 in February, before we witness the release of the spending index reading On construction, which shows growth slowed to 0.6% versus 1.8% in January.

This comes in conjunction with the disclosure also by the largest industrialized country in the world about the reading of the Institute of Industrial Supply index, which may show a contraction to 44.9 compared to a expansion at 50.1 in February, while a reading of the Institute of Industrial Supply measured in prices may indicate the extent of the contraction to 41.6 Versus 45.9, and we would like to point out, because the reading reading at a value of 50 or higher reflects a widening, while its reading below 50 indicates a contraction.

Technical analysis

The EURUSD pair maintained its stability above 1.0966 after trying to break it yesterday, and by looking carefully at the chart, we find that the price has completed forming an upward continuation flag pattern after penetrating the descending sub-channel resistance that appears in the image, which constitutes a positive incentive that we expect to contribute to the price To resume the bullish trend during the upcoming sessions.

From here, we expect a positive trading today, and targets start with the breach of 1.1067 to confirm opening the way for a visit to the 1.1170 level as a next station, noting the importance of holding above 1.0966 to continue the expected rise.

The expected trading range for today is between 1.0950 support and 1.1150 resistance

Expected trend for today: bullish