Analytic reviews

The currency pair is trading in the range of the lower border of the ascending price channel. Stochastic Oscillator signals oversoldness. Breaking through the resistance level of 2.0680 will result in the formation of an ascending pattern of 1-2-3.

Trading recommendations:

Buy while an ascending 1-2-3 pattern is forming. - Higher than 2.0680.

Stop loss for the figure is 2.0312.

Target levels: 2.1068; 2.1600.

If the price falls to the support level of 2.0312, cancel the trading plan.

When buying an option against a trend, it is necessary to confirm other technical analysis tools – the presence of divergence, and candlestick reversal patterns. Buy against the trend strictly on the retest level! Buying an option before publishing important economic news is considered risky.  The expiration time depends on the strength of the level and confirmation by additional technical and fundamental analysis tools.

Gold price futures fluctuated in a narrow range that tilted higher during the Asian session to witness its rebound from the lowest since March 3, with the dollar index rebounding to the eleventh session in sixteen sessions from the top since April 21, 2017 according to the inverse relationship between them On the cusp of developments and economic data expected Thursday by the US economy, the largest economy in the world and in the wake of US President Donald Trump's speech, which did not succeed in allaying investor fears after the World Health Organization declared the Corona virus a global pandemic.

At exactly 04:28 AM GMT, gold price futures for April delivery rose 0.20% to trade at $ 1,636.30 per ounce compared to the opening at $ 1,633.10 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded yesterday's trading At $ 1,642.30 an ounce, with the US dollar index down 0.40% to 96.27 compared to the opening at 96.66.

Investors are currently awaiting by the US economy the disclosure of the Producer Price Index reading, which is an initial indicator of inflation, which may reflect a 0.1% contraction versus 0.5% growth last January, while a substantial reading of the same indicator may show slowing growth to 0.1% versus 0.5 %, And the annual reading of the same indicator may show a slowdown in growth to 1.8% versus 2.1%, while the substantial annual reading of the index may reflect stability at 1.7%.

This also comes in conjunction with the issuance of the index of subsidy requests for the last week on the seventh of this month, which may show an increase by two thousand requests to 218 thousand applications compared to 216 thousand requests in the previous weekly reading, as may read the reading of the index of subsidy requests continued for the last week on 29 of Last February, an increase of 4 thousand requests to 1,733 thousand requests compared to 1,729 thousand requests in the previous weekly reading.

Other than that, we have just followed the press conference held by US President Donald Trump, during which he announced the suspension of all travel to Europe and a number of incentive measures, which included urging Congress to agree to an unspecified procedure for salary tax exemptions, expressing his confidence that America will limit One of the dangers it might pose, but his speech did not give investors the confidence that the United States is tightening its grip on the virus.

In another context, we followed yesterday, the US Treasury Secretary expressed during his testimony about the budget proposed by the Trump administration for the fiscal year 2021/2022 before the Subcommittee on Foreign Operations and Related Programs in Washington, that public health is the highest priority for the US government in this The budget, noting that it was approved by Congress to allocate $ 8 billion to combat Corona.

The US Secretary of Finance also stated that the International Monetary Fund and the World Bank are committed to providing adequate financial support to tackle the Corona virus, while expressing the fact that the US government aims to provide liquidity and direct financing to small and medium-sized projects and that the fiscal stimulus package will coincide with the reduction of salary taxes, indicating that hundreds will be pumped Billions of dollars in the US economy coinciding with tax cuts.

On the other hand, yesterday we followed the World Health Organization's announcement of a global pandemic virus and the statements of the Director-General of the World Health Organization, "We are extremely concerned about the spread, hidden danger, and worrying levels of inaction," adding, "We have sounded the alarm loudly and clearly," according to the latest figures. Issued by the organization, the number of cases infected with the virus has increased to more than 118 thousand, and 4,292 people have died in 114 countries.

Otherwise, the markets are looking forward to what will be the outcome of the European Central Bank meeting and the press conference for the European Central Governorate Christine Lagarde, amid expectations that the European Central Bank will deepen the negative interest rate, especially after the recent statements that it may move as soon as possible, and this comes hours after the Bank of England cut rates Interest is 50 basis points to be attached to the Federal Reserve and the Bank of Canada in addition to the Reserve Bank of Australia.

According to Bloomberg, the European Central Bank’s governorate warned Lagarde yesterday of the possibility of Europe facing a crisis similar to the global economic crisis in 2008, as it called on decision-makers to act quickly to avoid the repercussions of the outbreak of the Corona virus, and this came hours after the European Commission President Ursula Von announced Line last Tuesday, the European Union intends to inject a 25 billion euro financing package to counter the consequences of the Corona virus.

It is noteworthy that German Chancellor Angela Merkel pledged yesterday to do "everything necessary" to boost the economy of Germany, the largest economy in the euro area, and this came after Italian Prime Minister Giuseppe Conte reported that a stimulus plan of about 25 billion euros had been put in place to support the economy of his country, the third largest economy in the region. In the face of the repercussions of the Corona virus, this came after his government announced earlier this week to expand the quarantine to include the country as a whole because it contained the virus.

Technical analysis

The price of gold is testing a pivotal support 1633.60 now, which requires attention from the upcoming trading, as breaking this level will put the price under additional negative pressure initially targeting 1599.10 areas before any new positive attempt.

The stochastic is showing oversold oversold now to support the strength of the current areas, and therefore, we will maintain our expectations for the bullish trend unless it breaks the level of 1633.60 and remains below it, noting that our first target is at 1689.33.

The expected trading range for today is between 1620.00 support and 1660.00 resistance.

Expected trend for today: bullish.

The US dollar fell during the Asian session to witness the resumption of its rebound from above since April 25, 2019 for the eleventh session in sixteen sessions 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 Thursday by the American economy In the wake of US President Donald Trump's unsuccessful speech to calm investor concerns following the World Health Organization's announcement of a global pandemic virus.

At exactly 06:29 am GMT, the US dollar pair fell against the Japanese yen by 0.79% to 103.71 levels compared to the opening levels at 104.54, after the pair achieved its lowest level during the trading session at 103.09, while achieving the highest at 104.81.

We have followed up on the Japanese economy, the third largest industrialized country in the world, the Bank of Japan revealed the manufacturing business statistics, which showed that the deflation widened to 17.2 compared to 7.8 in the last fourth quarter, worse than the expectations that indicated the expansion of deflation to 10.2, as indicated by a statistical reading The business sector as a whole industry, the contraction widened to 10.1 versus 6.2 in the fourth quarter.

This came in conjunction with the disclosure of inflation data with the release of the producer price index, which is an initial indicator of inflationary pressures, which showed a 0.4% contraction versus 0.1% growth last January, worse than the expectations that indicated a 0.3% contraction, while the annual reading of the index showed The same slowing growth to 0.8% compared to 1.5% in the previous annual reading for the month of January, also worse than the expectations that indicated slowing growth to 1.1%.

On the other hand, investors are currently awaiting by the US economy the disclosure of the producer price index reading, which is an initial indicator of inflation, which may reflect a 0.1% contraction versus 0.5% growth last January, while a substantial reading of the same indicator may show a slowdown in growth to 0.1 % Versus 0.5%, and the annual reading of the same indicator may show a slowdown in growth to 1.8% versus 2.1%, while the substantial annual reading of the index may reflect stability at 1.7%.

This also comes in conjunction with the issuance of the index of subsidy requests for the last week on the seventh of this month, which may show an increase by two thousand requests to 218 thousand applications compared to 216 thousand requests in the previous weekly reading, as may read the reading of the index of subsidy requests continued for the last week on 29 of Last February, an increase of 4 thousand requests to 1,733 thousand requests compared to 1,729 thousand requests in the previous weekly reading.

Other than that, we have just followed the press conference held by US President Donald Trump, during which he announced the suspension of all travel to Europe and a number of incentive measures, which included urging Congress to agree to an unspecified procedure for salary tax exemptions, expressing his confidence that America will limit One of the dangers it might pose, but his speech did not give investors the confidence that the United States is tightening its grip on the virus.

In another context, we followed yesterday, US Treasury Secretary Stephen Manuchin expressed during his testimony about the budget proposed by the Trump administration for the fiscal year 2021/2022 before the Subcommittee on Foreign Operations and Related Programs in Washington, that public health is the highest priority for the US government In this budget, with reference to it being approved by Congress to allocate $ 8 billion to fight against Corona.

The US Secretary of Finance Manuchin also stated that the International Monetary Fund and the World Bank are committed to providing adequate financial support to tackle the Corona virus, while expressing the fact that the US government aims to provide liquidity and direct financing to small and medium-sized projects and that the fiscal stimulus package will coincide with the reduction of salary taxes, indicating that it will be pumped Hundreds of billions of dollars in the American economy coinciding with tax cuts.

It is reported that the World Health Organization announced yesterday that the Coruna virus is a global epidemic, and we have also followed up on the statements of the Director-General of the World Health Organization, Tedros Adhanum Ghebrysos, "We are very concerned about the spread, hidden danger, and worrying levels of inaction," adding, "We rang the alarm loudly and clearly." According to the most recent figures issued by the organization, the number of cases infected with the virus has increased to more than 118 thousand, and 4,292 people have died in 114 countries.

Technical analysis

The dollar pair against the yen opens today with a strong negative to move away from the 104.63 level, reinforcing the expectations of the continuation of the downside trend, whose next main objective is 100.25, noting that the SMA 50 continues to press negatively on the price to support the downside expectations.

On the other hand, it should be noted that a break of 104.63 will stop the expected decline and push the price to start recovery attempts targeting 105.40 then 106.70 initially.

The expected trading range for today is between 102.80 support and 104.60 resistance.

Expected trend for today: bearish.

The single currency fluctuated the euro in a narrow range slanting up during the Asian session against the US dollar on the threshold of economic developments and data expected on Thursday by the economies of the euro area and the US economy, the largest economy in the world, which includes the decisions and directions of monetary policy makers at the European Central Bank and the press conference of the central European Christine Lagarde In the wake of US President Donald Trump's speech, which failed to calm investor fears after the World Health Organization declared the Corona virus a global pandemic.

At 05:59 am GMT, the euro pair rose against the US dollar by 0.20% to 1.1292 levels compared to the opening levels at 1.1270 after the pair achieved its highest level during the trading session at 1.1333, while achieving the lowest at 1.1251.

Markets are looking for the third largest economy in the region, Italy. The reading of the unemployment rate index, which may reflect stability at 9.8% during the fourth quarter, before we witness the economies of the euro area as a whole reveal the seasonally adjusted reading of the industrial production index, which may reflect a 1.4% rise against a decline 2.1% last December, while the annual reading of the same index may show a decline in the decline to 3.1% compared to 4.1%.

Up to the ECB meeting, during which the monetary policy makers of the European Central Bank are expected to decide to maintain interest rates at their current zero levels and to fix the marginal lending rate at 0.25% in addition to staying on the interest rate on negative deposits -0.50% and move forward in The quantitative easing program at 20 billion euros per month, as long as necessary.

Markets are looking to later in the day for the press conference of the European Central Bank Governor Christine Lagarde amid expectations that the European Central will expand stimulus, especially after the recent statements that it may move as soon as possible, and this comes hours after the Bank of England cut interest rates by 50 basis points to catch all From the Federal Reserve, the Bank of Canada, and the Reserve Bank of Australia.

According to Bloomberg, the European Central Bank’s governorate warned Lagarde yesterday of the possibility of Europe facing a crisis similar to the global economic crisis in 2008, as it called on decision-makers to act quickly to avoid the repercussions of the outbreak of the Corona virus, and this came hours after the European Commission President Ursula Von announced Line last Tuesday, the European Union intends to inject a 25 billion euro financing package to counter the consequences of the Corona virus.

It is noteworthy that German Chancellor Angela Merkel pledged yesterday to do "everything necessary" to boost the economy of Germany, the largest economy in the euro area, and this came after Italian Prime Minister Giuseppe Conte reported that a stimulus plan of about 25 billion euros had been put in place to support his country's economy in the face of the repercussions of the virus Coruna, this came after his government announced earlier this week to expand quarantine to include the country as a whole because it contained the virus.

On the other hand, investors are currently awaiting by the US economy the disclosure of the producer price index reading, which is an initial indicator of inflation, which may reflect a 0.1% contraction versus 0.5% growth last January, while a substantial reading of the same indicator may show a slowdown in growth to 0.1 % Versus 0.5%, and the annual reading of the same indicator may show a slowdown in growth to 1.8% versus 2.1%, while the substantial annual reading of the index may reflect stability at 1.7%.

This also comes in conjunction with the issuance of the index of subsidy requests for the last week on the seventh of this month, which may show an increase by two thousand requests to 218 thousand applications compared to 216 thousand requests in the previous weekly reading, as may read the reading of the index of subsidy requests continued for the last week on 29 of Last February, an increase of 4 thousand requests to 1,733 thousand requests compared to 1,729 thousand requests in the previous weekly reading.

Other than that, we have just followed the press conference held by US President Donald Trump, during which he announced the suspension of all travel to Europe and a number of incentive measures, which included urging Congress to agree to an unspecified procedure for salary tax exemptions, expressing his confidence that America will limit One of the dangers it might pose, but his speech did not give investors the confidence that the United States is tightening its grip on the virus.

In another context, we followed yesterday, US Secretary of Finance Stephen Manuchin expressed during his testimony about the budget proposed by the Trump administration for the fiscal year 2021/2022 before the Subcommittee on Foreign Operations and Related Programs in Washington, that public health is the highest priority for the US government In this budget, with reference to it being approved by Congress to allocate $ 8 billion to fight against Corona.

The US Secretary of Finance Manuchin also stated that the International Monetary Fund and the World Bank are committed to providing adequate financial support to tackle the Corona virus, while expressing the fact that the US government aims to provide liquidity and direct financing to small and medium-sized projects and that the fiscal stimulus package will coincide with the reduction of salary taxes, indicating that it will be pumped Hundreds of billions of dollars in the American economy coinciding with tax cuts.

It is reported that the World Health Organization announced yesterday that the Coruna virus is a global epidemic, and we have also followed up on the statements of the Director-General of the World Health Organization, Tedros Adhanum Ghebrysos, "We are very concerned about the spread, hidden danger, and worrying levels of inaction," adding, "We rang the alarm loudly and clearly." According to the most recent figures issued by the organization, the number of cases infected with the virus has increased to more than 118 thousand, and 4,292 people have died in 114 countries.

Technical analysis

The euro against the dollar pair approached the level of 1.1221 yesterday, and returned to volatility near 1.1325, noting that the stochastic indicator continues to provide negative signals that support the chances of the continuation of the downward corrective pressure during the upcoming sessions, so that we continue to favor the bearish trend over the intraday basis, taking note that it exceeded 1.1221 It will extend the descending wave to reach 1.1136.

Stability below 1.1325 keeps the corrective scenario effective, as breaching it will lead the price to restore the main bullish trend that its first target is at 1.1457.

The expected trading range for today is between 1.1200 support and 1.1360 resistance.

Expected trend for today: bearish temporarily.

When buying an option against a trend, it is necessary to confirm other technical analysis tools – the presence of divergence, candlestick reversal patterns. Buy against the trend strictly on the retest level! Buying an option before publishing important economic news is considered risky.  The expiration time depends on the strength of the level and confirmation by additional technical and fundamental analysis tools.

The Australian dollar fluctuated in a narrow range tilted toward the decline during the Asian session to witness the lowest since the beginning of this week, when it tested the lowest since the tenth of March 2009 against the US dollar amid the growing fears of an outbreak of the Corona virus globally and in the wake of the developments and economic data that followed On the Australian economy and on the cusp of developments and economic data expected today, Thursday, by the US economy, the largest economy in the world.

At 2:16 am GMT, the Australian dollar pair fell against the US dollar by 0.31% to 0.6464 levels compared to the opening levels at 0.6484, after the pair achieved its lowest level during the trading session at 0.6451, while it achieved the highest at 0.6492.

We followed up on the Australian economy, the Melbourne Institute's reading of consumer expectations of inflationary pressures, which showed stability at 4.0% during March, and that comes hours after the World Health Organization yesterday announced a global pandemic virus and statements by the Director-General of the World Health Organization, Tiedros Adhanum, "We are very concerned Among the levels of spread and hidden danger, and levels of worrying inaction, "adding," We have sounded the alarm loudly and clearly. "

In another context, we also followed yesterday the Australian government announced a health package worth A $ 2.4 billion ($ 1.56 billion) and the statement that it will provide "unprecedented support through primary care, care for the elderly in addition to hospitals, research and the national medical inventory", according to the latest figures released From the World Health Organization, the number of cases infected with the Coronavirus has increased to more than 118,000, and 4,292 people have died from infection in 114 countries.

We also followed earlier this week the speech of Reserve Bank of Australia Deputy Governor Jay Debbel at the Australian Financial Review Business Summit in Sydney, in which he stressed that any quantitative easing measures that the Australian central bank will adopt will focus on "yield targets rather than setting the level of bond purchases", He explained that any stimulus that the Bank of Australia will adopt will focus on its intended results and will not depend on setting a specific level for the bond purchase.

On the other hand, investors are currently awaiting by the US economy the disclosure of the producer price index reading, which is an initial indicator of inflation, which may reflect a 0.1% contraction versus 0.5% growth last January, while a substantial reading of the same indicator may show a slowdown in growth to 0.1 % Versus 0.5%, and the annual reading of the same indicator may show a slowdown in growth to 1.8% versus 2.1%, while the substantial annual reading of the index may reflect stability at 1.7%.

This also comes in conjunction with the issuance of the index of subsidy requests for the last week on the seventh of this month, which may show an increase by two thousand requests to 218 thousand applications compared to 216 thousand requests in the previous weekly reading, as may read the reading of the index of subsidy requests continued for the last week on 29 of Last February, an increase of 4 thousand requests to 1,733 thousand requests compared to 1,729 thousand requests in the previous weekly reading.

Other than that, we have just followed the press conference held by US President Donald Trump, during which he announced the suspension of all travel to Europe and a number of incentive measures, which included urging Congress to agree to an unspecified procedure for salary tax exemptions, expressing his confidence that America will limit One of the dangers it might pose, but his speech did not give investors the confidence that the United States is tightening its grip on the virus.

In another context, we followed yesterday, US Secretary of Finance Stephen Manuchin expressed during his testimony about the budget proposed by the Trump administration for the fiscal year 2021/2022 before the Subcommittee on Foreign Operations and Related Programs in Washington, that public health is the highest priority for the US government In this budget, with reference to it being approved by Congress to allocate $ 8 billion to fight against Corona.

The US Secretary of Finance Manuchin also stated that the International Monetary Fund and the World Bank are committed to providing adequate financial support to tackle the Corona virus, while expressing the fact that the US government aims to provide liquidity and direct financing to small and medium-sized projects and that the fiscal stimulus package will coincide with the reduction of salary taxes, indicating that it will be pumped Hundreds of billions of dollars in the American economy coinciding with tax cuts.

Technical analysis

The Australian dollar versus the US dollar is resuming its negative trading to approach the descending channel support which represents our first awaited target at 0.6430, and we expect the negative pressure to continue to achieve more negative targets that extend to 0.6230.

Therefore, we will maintain our expectations for the downside trend that gets continuous support from the EMA50, noting that stability below 0.6565 is a prerequisite for the suggested decline to continue.

The expected trading range for today is between 0.6380 support and 0.6520 resistance.

Expected trend for today: bearish.

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving average and in the range of the round important level of 1.1300. The descending truncated H1 level pattern ended with the breakout of the inclined channel (aC M30). Breaking through the resistance level of 1.1334 will result in the formation of an M30 level uptrend within the overall uptrend. Awesome Oscillato formed a bullish divergence, and Stochastic Oscillator showed an exit from the oversold zone.

Trading recommendations:

Buy above 1.1334.

Stop loss: 1.1250.

Target levels: 1.1400; 1.1480.

The pair is under pressure below 1.2800 amid yesterday's Bank of England’s unexpected key interest rate cut by 0.50% to 0.25%. The pair will continue its local decline.

The price is below the middle line of the Bollinger indicator, below SMA 5 and SMA 14. RSI is above the 50% level and indicates a continued decline. Stoch are in the oversold zone.

Trading recommendations:

Sell the pair as long as it remains below the level of 1.2800 or as it rebonuds upwards if it passes it again with the local target level of 1.2720.

The pair is below 1.1370. Expect a resumption of its decline if the situation in the financial markets stabilizes. Expectation of the ECB cutting rates to negative values will put pressure on the single currency.

The price is at the midline Bollinger band, below SMA 5, but still above SMA 14. RSI is above 50% and indicates a weakening price increase. Stoch are still growing.

Trading recommendations:

Sell the pair as long as it's below the level of 1.1370 with a local target of 1.1095.