Analytic reviews

The euro currency fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce back for the eighth session in eleven sessions from the lowest since mid-April 2017 against the US dollar amid the scarcity of economic data by the eurozone economies and on the cusp of developments and economic data expected on Thursday The American economy, which includes the talk of a member of the Federal Committee and President of the Dallas Federal Reserve Robert Kaplan.

At 05:30 am GMT, the euro pair rose against the US dollar by 0.03% to 1.1139 levels compared to the opening levels at 1.1136, after the pair achieved its highest level during the trading session at 1.1144, while achieving the lowest at 1.1131.

Investors are currently awaiting by the American economy the disclosure of the final reading of the productivity index and the cost of one work, and it is expected that the productivity index reading will show stability of growth at 1.4%, little changed from what it was in the initial reading for the fourth quarter and against a 0.2% contraction in the previous reading of the quarter Third, while the cost index reading may show an acceleration of growth to 1.5% compared to 1.4% in the initial reading and against a growth of 2.5% in the third quarter.

This comes in conjunction with the disclosure by the largest industrialized country in the world of a reading of the factory orders index, which may reflect a 0.2% decline compared to a rise of 1.8% in December, and with the release of the aid requests index for the past week at the end of last month, which may reflect a decrease by 4 thousand requests to 215 thousand requests compared to 219 thousand requests in the previous weekly reading.

This also comes in conjunction with the issuance of the reading of the continuous benefit applications index for the week that elapsed on February 22, which may reflect a rise by one thousand applications to 1,725 ​​thousand applications compared to 1,724 thousand applications in the previous weekly reading, up to the speech of a member of the Federal Committee and President of Dallas Bank Federal Reserve Robert Kaplan On trade wars, the global economic slowdown and monetary policy at the Chicago Council on World Affairs.

It is noteworthy that the Federal Reserve held a surprising meeting last Tuesday through which the members of the Federal Open Market Committee decided to reduce the interest on federal funds by 50 basis points to between 1.00% and 1.25% after fixing them in the previous two meetings of the Federal Reserve at between 1.50% and 1. 75%, and after reducing it three times by 25 basis points in previous meetings last year.

In the same vein, we also followed up on Tuesday, the press conference held by Federal Reserve Governor Jerome Powell after the decision to suddenly reduce markets to short-term benchmark interest rates, through which he noted that the decision came to support the American economy, while touching that over the past years wages increased and improved The labor market and that the committee has repeatedly stressed that the current monetary policy is appropriate.

Powell also noted at the time that several risks arose and the current situation became in a state of uncertainty, which made the Federal Committee see the existence of fundamental changes that prompted it to take a reaction, adding that over the course of the months and weeks ahead, the committee will work to monitor markets and developments and take appropriate decisions to support the economy He explained that the American economy is strong, but it is difficult to determine the extent of the negative effects of the spread of the Corona virus locally and globally.

Powell stressed during the press conference that the committee’s decision to cut interest at Tariq’s meeting for the first time since the global financial crisis that occurred more than a decade ago and by 50 basis points, which is rarely made by the Federal Reserve, is not a political decision but rather stems from a vision The Federal Committee for Current Events, and this came after US President Donald Trump repeatedly asked the Federal Reserve and Powell County to cut interest and expand stimulus.

Technical analysis

The euro against the dollar presented negative trading yesterday, to make some downward correction of the recent bullish rally that started from the 1.0778 areas, and we notice that the price touched the 23.6% Fibonacci level that formed a strong support at 1.1110 and maintains its stability above it, which provides signals on the price trend to try to resume the trend Rookie main.

Therefore, we are likely to witness positive trades today, and the next main target is at 1.1240, noting that a break of 1.1110 will put the price under additional negative pressure aimed at visiting 1.1046 levels and it may extend to 1.0944 before any new attempt to rise.

The expected trading range for today is between 1.1070 support and 1.1240 resistance.

Expected trend for today: bullish.

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce back for the fifth session from the lowest since February 7, with the dollar index rebounding to the eighth session in eleven sessions from the top since April 21, 2017 according to the reverse relationship Between them are on the threshold of the expected economic developments and data on Thursday by the American economy, which includes the talk of a member of the Federal Open Market Committee Robert Kaplan and in the shadows of market pricing for the global stimulus to reduce the economic damage to the Corona virus.

At exactly 04:05 AM GMT, the gold futures contracts for April delivery rose 0.10% to trade at $ 1,639.90 per ounce compared to the opening at $ 1,638.20 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded yesterday's trading At $ 1,643.00 an ounce, with the US dollar index down 0.01% to 97.33 compared to the opening at 97.34.

Investors are currently awaiting by the American economy the disclosure of the final reading of the productivity index and the cost of one work, and it is expected that the productivity index reading will show stability of growth at 1.4%, little changed from what it was in the initial reading for the fourth quarter and against a 0.2% contraction in the previous reading of the quarter Third, while the cost index reading may show an acceleration of growth to 1.5% compared to 1.4% in the initial reading and against a growth of 2.5% in the third quarter.

This comes in conjunction with the disclosure by the largest industrialized country in the world of a reading of the factory orders index, which may reflect a 0.2% decline against a rise of 1.8% in December, and with the release of the index of subsidy requests for the past week at the end of last month, which may reflect a decrease by 4 thousand requests to 215 thousand requests compared to 219 thousand requests in the previous weekly reading.

This also comes in conjunction with the issuance of the reading of the continuous benefit applications index for the week that elapsed on February 22, which may reflect a rise by one thousand applications to 1,725 ​​thousand applications compared to 1,724 thousand applications in the previous weekly reading, up to the speech of a member of the Federal Committee and President of Dallas Bank Federal Reserve Robert Kaplan On trade wars, the global economic slowdown and monetary policy at the Chicago Council on World Affairs.

Otherwise, yesterday we followed the report that touched on the fact that the US Congress approved a $ 8.3 billion financing package to support stakeholders in the fight against the Corona virus, and we also followed yesterday the International Monetary Fund Director Kristalina Georgieva announcing a $ 50 billion aid package for the markets of other countries Low income and emerging around the world in the form of interest-free loans as part of efforts to combat the global spread of the Corona virus.

In the same context, Georgieva, in her speech yesterday to the "CN-NBC", expressed that the Fund would like to see the use of those funds allocated as an aid package, first to enhance health care and then to the targeted financial stimulus program and to enhance liquidity in emerging markets, and that came The package of aid after many international central banks cut interest rates and benefited from their intention to expand the adoption of stimulus if necessary.

It is noteworthy that Bank of Japan Governor Harhiko Kuroda pledged earlier this week that the Bank of Japan will take the necessary steps to stabilize the financial markets, and the Japanese Central Bank has quickly demonstrated the type of measures it will take by offering to buy 500 billion yen ($ 4.6 billion) of government bonds. With the repurchase agreement to provide liquidity to market participants, which in turn contributed to allaying investor concerns regarding the risks of the spread of Corona.

This was followed by the Reserve Bank of Australia's resumption of interest rate cuts this year, with a 25 basis point cut to an absolute minimum of 0.50%, which came in line with expectations, with the benefit from the Australian Central Bank’s interest rate statement preparing the Bank of Australia The reserve for further reduction later, after fixing it in the previous three meetings and after reducing it three times by 25 basis points last year.

Also, we followed up on Tuesday, the Federal Reserve held a sudden meeting, during which members of the Federal Open Market Committee decided to reduce the interest on federal funds by 50 basis points to between 1.00% and 1.25% after fixing them in the previous two meetings of the Federal Reserve at between 1.50% and 1. 75%, following its three-fold reduction of 25 basis points in previous meetings last year.

In the same vein, we also followed up on Tuesday, the press conference held by Federal Reserve Governor Jerome Powell after the decision to suddenly reduce markets to short-term benchmark interest rates, through which he noted that the decision came to support the American economy, while touching that over the past years wages increased and improved The labor market and that the committee has repeatedly stressed that the current monetary policy is appropriate.

Powell also noted at the time that several risks arose and the current situation became in a state of uncertainty, which made the Federal Committee see the existence of fundamental changes that prompted it to take a reaction, adding that over the course of the months and weeks ahead, the committee will work to monitor markets and developments and take appropriate decisions to support the economy He explained that the American economy is strong, but it is difficult to determine the extent of the negative effects of the spread of the Corona virus locally and globally.

Powell stressed during the press conference that the committee’s decision to cut interest at Tariq’s meeting for the first time since the global financial crisis that occurred more than a decade ago and by 50 basis points, which is rarely made by the Federal Reserve, is not a political decision but rather stems from a vision The Federal Committee for Current Events, and this came after US President Donald Trump repeatedly asked the Federal Reserve and Powell County to cut interest and expand stimulus.

Up to the Bank of Canada yesterday cut interest rates by 50 basis points for the first time since the beginning of 2009 to 1.25%, after fixing them in the previous ten meetings at 1.75%, which came in line with expectations, and the Canadian Central Bank statement also stated that the decision comes At a time when the economy is close to reaching the target of inflation, the risks looming as a result of the global spread of corona is the reason behind this rate cut.

Technical analysis

The gold price maintains its stability above 1633.60 level, and gets continuous positive support from the EMA50, noting that the stochastic has cleared its negative momentum to reach the oversold areas in the sale, which constitutes a positive incentive that we expect to contribute to push the price to resume the main bullish trend, which His next target is at 1689.33.

Thus, the positive scenario will remain valid and effective for the upcoming period, noting that a break of 1633.60 will press the price to drop towards 1599.10 initially, before any new attempt to rise.

The expected trading range for today is between 1630.00 support and 1670.00 resistance.

Expected trend for today: bullish.

The fluctuation of the US dollar in a narrow range slanted toward decline during the Asian session, to witness its rebound to the seventh session in eleven sessions of its sessions since April 25 of 2019 against the Japanese yen amid the scarcity of economic data by the Japanese economy and on the eve of developments and economic data expected Today, Thursday is the US economy which includes the talk of Federal Reserve Board member and Dallas Federal Reserve Chairman Robert Kaplan.

At exactly 6:20 am GMT, the US dollar pair fell against the Japanese yen by 0.17% to 107.35 levels compared to the opening levels at 107.53, after the pair achieved its lowest level during the trading session at 107.26, while achieving the highest at 107.74.

Investors are currently awaiting by the American economy the disclosure of the final reading of the productivity index and the cost of one work, and it is expected that the productivity index reading will show stability of growth at 1.4%, little changed from what it was in the initial reading for the fourth quarter and against a 0.2% contraction in the previous reading of the quarter Third, while the cost index reading may show an acceleration of growth to 1.5% compared to 1.4% in the initial reading and against a growth of 2.5% in the third quarter.

This comes in conjunction with the disclosure by the largest industrialized country in the world of a reading of the factory orders index, which may reflect a 0.2% decline compared to a rise of 1.8% in December, and with the release of the aid requests index for the past week at the end of last month, which may reflect a decrease by 4 thousand requests to 215 thousand requests compared to 219 thousand requests in the previous weekly reading.

This also comes in conjunction with the release of the last-day claims filing for the last week on February 22, which may reflect a rise of one thousand applications to 1,725 ​​thousand applications compared to 1,724 thousand requests in the previous weekly reading, up to the speech of a member of the Federal Committee and President of Dallas Bank Federal Reserve Robert Kaplan On trade wars, the global economic slowdown and monetary policy at the Chicago Council on World Affairs.

It is noteworthy that the Federal Reserve held a surprising meeting last Tuesday through which the members of the Federal Open Market Committee decided to reduce the interest on federal funds by 50 basis points to between 1.00% and 1.25% after fixing them in the previous two meetings of the Federal Reserve at between 1.50% and 1. 75%, and after reducing it three times by 25 basis points in previous meetings last year.

In the same vein, we also followed up on Tuesday, the press conference held by Federal Reserve Governor Jerome Powell after the decision to suddenly reduce markets to short-term benchmark interest rates, through which he noted that the decision came to support the American economy, while touching that over the past years wages increased and improved The labor market and that the committee has repeatedly stressed that the current monetary policy is appropriate.

Powell also noted at the time that several risks arose and the current situation became in a state of uncertainty, which made the Federal Committee see the existence of fundamental changes that prompted it to take a reaction, adding that over the course of the months and weeks ahead, the committee will work to monitor markets and developments and take appropriate decisions to support the economy He explained that the American economy is strong, but it is difficult to determine the extent of the negative effects of the spread of the Corona virus locally and globally.

Powell stressed during the press conference that the committee’s decision to cut interest at Tariq’s meeting for the first time since the global financial crisis that occurred more than a decade ago and by 50 basis points, which is rarely made by the Federal Reserve, is not a political decision but rather stems from a vision The Federal Committee for Current Events, and this came after US President Donald Trump repeatedly asked the Federal Reserve and Powell County to cut interest and expand stimulus.

Technical analysis

The dollar versus the yen has been hovering around 107.42 since yesterday, and we notice that the stochastic is providing a negative cross signal now, waiting for the price to stimulate the resumption of the expected bearish direction in the intraday and short term, which targets the level of 106.28 as the next main station.

Therefore, we will continue to favor the bearish trend for the next period provided that the price maintains its stability below 108.34, noting that the EMA50 continues to support the expected descending wave.

The expected trading range for today is between 106.50 support and 108.00 resistance.

Expected trend for today: bearish.

The fluctuation of the US dollar in a narrow range slanting upward during the Asian session to witness its rebound from the lowest since October 8 of 2019 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 .

At exactly 05:51 AM GMT, the US dollar pair rose against the Japanese yen by 0.26% to 107.41 levels compared to the opening levels at 107.40, after the pair achieved its highest level during the trading session at 107.52, while achieving the lowest in five months at 106.85 .

This was followed by yesterday, Japanese Prime Minister Shinzo Abe, expressing his government’s readiness to expand the fiscal stimulus policy and launching a spending package to face many risks, indicating that this package will be funded from the surplus of the current fiscal year’s budget, which expires at the end of this month and the fiscal budget for the year. The next fiscal, adding that his government is closely watching the impact of the Corona virus on the global economy and Japan

Also, Japanese Prime Minister Abe stressed yesterday that his government will not hesitate to take more steps to support demand in the third largest economy in the world, and this came hours after he expressed last Monday that he was preparing a law enabling him to declare a state of emergency in his country because of the spread Corona virus, which is a coronavirus that started in Wuhan, China and has spread recently in many countries including Japan.

In another context, we also followed on Monday, Bank of Japan Governor Harhiko Kuroda pledged that the Bank of Japan would take the necessary steps to stabilize financial markets, and the Japanese central bank quickly showed the type of measures it would take by offering to buy 500 billion yen ($ 4.6 billion) of Government bonds by repurchase agreement to provide liquidity to market participants, which in turn contributed to allaying investor anxiety about the risks of spread.

On the other hand, investors are waiting for 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 a slowdown in the pace of job creation to 170 thousand added jobs compared to 291 thousand added jobs in January. Hours before the disclosure of the monthly report of jobs except agricultural and unemployment rates in addition to the hourly rate for the month of February after tomorrow, Friday.

This comes before we witness the issuance of the final reading of the Service Supply Institute index by Marquette about the United States, which may reflect the stability of the contraction at 49.4 unchanged from the initial reading of last month and against a widening at 53.4 in January, and before revealing the reading of the Institute's index Service supply, which may show a shrinkage in capacity to 54.9, compared to 55.5 in January.

We would like to point out that the importance of service provision lies in the fact that the service sector in America represents more than two-thirds of the gross domestic product, and finally the market is looking to unveil the Big Book, whose importance lies in the fact that it is issued two weeks before the meeting of the Federal Open Market Committee, which is scheduled to be held on 17-18 March is expected to reveal the Committee's expectations for the future of interest rates and the rate of growth, inflation and unemployment for the next three years.

This comes hours after the sudden meeting of the Federal Reserve yesterday, during which members of the Federal Open Market Committee decided to reduce the interest on federal funds by 50 basis points to between 1.00% and 1.25% after being installed in the previous two meetings of the Federal Reserve at between 1.50% And 1.75%, and after reducing it three times by 25 basis points in previous meetings last year.

In the same vein, we also followed yesterday, Tuesday, the press conference held by Federal Reserve Governor Jerome Powell after the decision to suddenly reduce markets to short-term benchmark interest rates, through which he noted that the decision came to support the American economy, while touching that over the past years wages increased The labor market has improved and the Committee has repeatedly stressed that the current monetary policy is appropriate.

Powell also expressed yesterday that several risks have arisen and the current situation has become in a state of uncertainty, which made the Federal Committee see the existence of fundamental changes that prompted it to take a reaction, adding that over the next months and weeks the committee will work to monitor markets and developments and take appropriate decisions to support the economy, He explained that the American economy is strong, but it is difficult to determine the extent of the negative effects of the spread of the Corona virus locally and globally.

Powell stressed during the press conference that the committee’s decision to cut interest at Tariq’s meeting for the first time since the global financial crisis that occurred more than a decade ago and by 50 basis points, which is rarely made by the Federal Reserve, is not a political decision but rather stems from a vision The Federal Committee for Current Events, and this came in the wake of US President Donald Trump's call repeatedly for the Federal Reserve and Powell County to cut interest and expand stimulus.

Technical analysis

The dollar versus the yen made a strong break of the 107.42 level yesterday, and closed the daily candle below it, reinforcing the expectations of the continuation of the downtrend during the coming period, awaiting further decline to visit the 106.28 level, which represents our next stop.

SMA 50 continues to support the suggested descending wave, which will remain intact unless 108.34 level is breached and stability above it.

The expected trading range for today is between 106.60 support and 108.00 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 bounce back to the fourth session from the lowest since February 7, tolerating the US dollar index rebound to the second session from the lowest since January 8, according to the reverse relationship between them on The expected economic developments and data today, Wednesday, by the US economy, the largest economy in the world, and in light of the pricing of global stimulus markets to reduce the economic damage to the Corona virus.

At exactly 04:41 AM GMT, gold price futures for April delivery rose 0.16% to trade at $ 1,642.80 per ounce compared to the opening at $ 1,640.10 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded yesterday's trading At $ 1,644.40 an ounce, while the US dollar index rose 0.13% to 97.28 compared to the opening at 97.16.

Investors are currently awaiting by the American economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect a slowdown in the pace of job creation to 170 thousand added jobs compared to 291 thousand added jobs last January, hours before From the disclosure of the monthly report of jobs except agricultural and unemployment rates in addition to the hourly rate for the month of February after tomorrow, Friday.

This comes before we witness the issuance of the final reading of the Service Supply Institute index by Marquette about the United States, which may reflect the stability of the contraction at 49.4 unchanged from the initial reading of last month and against a widening at 53.4 in January, and before revealing the reading of the Institute's index Service supply, which may show a shrinkage in capacity to 54.9, compared to 55.5 in January.

We would like to point out that the importance of service provision lies in the fact that the service sector in America represents more than two-thirds of the gross domestic product, and finally the market is looking to unveil the Big Book, whose importance lies in the fact that it is issued two weeks before the meeting of the Federal Open Market Committee, which is scheduled to be held on 17-18 March is expected to reveal the Committee's expectations for the future of interest rates and the rate of growth, inflation and unemployment for the next three years.

This comes hours after the sudden meeting of the Federal Reserve yesterday, during which members of the Federal Open Market Committee decided to reduce the interest on federal funds by 50 basis points to between 1.00% and 1.25% after being installed in the previous two meetings of the Federal Reserve at between 1.50% And 1.75%, and after reducing it three times by 25 basis points in previous meetings last year.

In the same vein, we also followed yesterday, Tuesday, the press conference held by Federal Reserve Governor Jerome Powell after the decision to suddenly reduce markets to short-term benchmark interest rates, through which he noted that the decision came to support the American economy, while touching that over the past years wages increased The labor market has improved and the Committee has repeatedly stressed that the current monetary policy is appropriate.

Powell also expressed yesterday that several risks have arisen and the current situation has become in a state of uncertainty, which made the Federal Committee see the existence of fundamental changes that prompted it to take a reaction, adding that over the next months and weeks the committee will work to monitor markets and developments and take appropriate decisions to support the economy, He explained that the American economy is strong, but it is difficult to determine the extent of the negative effects of the spread of the Corona virus locally and globally.

Powell stressed during the press conference that the committee’s decision to cut interest at Tariq’s meeting for the first time since the global financial crisis that occurred more than a decade ago and by 50 basis points, which is rarely made by the Federal Reserve, is not a political decision but rather stems from a vision The Federal Committee for Current Events, and this came in the wake of US President Donald Trump's call repeatedly for the Federal Reserve and Powell County to cut interest and expand stimulus.

In another context, we also followed yesterday that the Reserve Bank of Australia resumed interest rate cuts during this year with a decrease of 25 basis points to the lowest level at all at 0.50%, which came in line with expectations, with the benefit through the Australian Central Bank’s statement of rates The interest is that the bank is ready for further reduction later, after fixing it in the previous three meetings, and after reducing it three times by 25 basis points last year.

We also followed up yesterday the report that touched on the fact that the European Central Bank officials expressed that the European Central is fully prepared to take appropriate measures when necessary and that they monitor developments related to the spread of the Corona virus, which would create risks to economic expectations and financial market conditions, in order to assess these developments and their impact on Both the Eurozone economies and the medium-term inflation target.

It is noteworthy that Bank of Japan Governor Harikiko Kuroda pledged earlier this week that the Japanese central bank will take the necessary steps to stabilize the financial markets, and the Japanese central bank has quickly demonstrated the type of measures it will take by offering to buy 500 billion yen ($ 4.6 billion) of government bonds. With the repurchase agreement to provide liquidity to market participants, which in turn contributed to allaying investor concerns regarding the risks of the spread of Corona.

Technical analysis

Gold confirmed the breach of 1633.60 level after the daily candle closed above it, to open the way for more gains in the short and intraday basis, supported by moving above the EMA50.

Thus, the bullish trend scenario will remain effective for the upcoming period, noting that a break of 1633.60 may pressure the price to test 1599.10 areas again before any new attempt to rise.

The expected trading range for today is between 1630.00 support and 1670.00 resistance.

Expected trend for today: bullish.

The euro currency fluctuated in a narrow range slanting back down during the Asian session to witness its bounce for the second session from the top since January 2 against the US dollar on the cusp 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 05:18 am GMT, the euro pair rose against the US dollar by 0.10% to 1.1162 levels compared to the opening levels at 1.1173 after the pair achieved its lowest level during the trading session at 1.1155, while it achieved the highest at 1.1185.

Currently, Spain is looking to Spain, the fourth largest economy in the eurozone, to disclose the Services PMI reading, which may show a widening to 52.5 compared to 52.3 in January, before we see the same indicator reading for Italy, the third largest economy in the region, which may Reflects stability of the expansion at its value of 51.4 during February.

Investors are also looking for France, the second largest economy in the eurozone, to disclose the final reading of the services PMI, which may show the stability of expansion at 52.6 unchanged from the initial reading for the past month and 51.0 in the previous reading in January, before the final reading of the index Same for Germany, the region's largest economy, which may also explain the expansion of the expansion at 53.3, compared to 54.2 in January.

Up to reveal the final reading of the services PMI for the euro area as a whole, which may show the stability of the expansion at 52.8 unchanged from the initial reading for the previous month of February, and against 52.5 in January, as we may also witness about the economies of the euro area as a whole issued a sales index reading Retail of the euro area as a whole, which may explain a rise of 0.6% against a decline of 1.6% last December.

Other than that, yesterday we followed the report that touched on the fact that the European Central Bank officials expressed that the European Central is ready to take appropriate measures when necessary and that they monitor developments related to the spread of the Corona virus, which would create risks to economic expectations and financial market conditions, in order to assess those Developments and their impact on both the euro area economies and the medium-term inflation target.

On the other hand, investors are looking for 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 a slowdown in the pace of job creation to 170 thousand added jobs compared to 291 thousand added jobs last January, before Hours of disclosure of the monthly report of jobs except agricultural and unemployment rates in addition to the hourly rate for the month of February after tomorrow, Friday.

This comes before we witness the issuance of the final reading of the Service Supply Institute index by Marquette about the United States, which may reflect the stability of the contraction at 49.4 unchanged from the initial reading of last month and against a widening at 53.4 in January, and before revealing the reading of the Institute's index Service supply, which may show a shrinkage in capacity to 54.9, compared to 55.5 in January.

We would like to point out that the importance of service provision lies in the fact that the service sector in America represents more than two-thirds of the gross domestic product, and finally the market is looking to unveil the Big Book, whose importance lies in the fact that it is issued two weeks before the meeting of the Federal Open Market Committee, which is scheduled to be held on 17-18 March is expected to reveal the Committee's expectations for the future of interest rates and the rate of growth, inflation and unemployment for the next three years.

This comes hours after the sudden meeting of the Federal Reserve yesterday, during which members of the Federal Open Market Committee decided to reduce the interest on federal funds by 50 basis points to between 1.00% and 1.25% after being installed in the previous two meetings of the Federal Reserve at between 1.50% And 1.75%, and after reducing it three times by 25 basis points in previous meetings last year.

In the same vein, we also followed yesterday, Tuesday, the press conference held by Federal Reserve Governor Jerome Powell after the decision to suddenly reduce markets to short-term benchmark interest rates, through which he noted that the decision came to support the American economy, while touching that over the past years wages increased The labor market has improved and the Committee has repeatedly stressed that the current monetary policy is appropriate.

Powell also expressed yesterday that several risks have arisen and the current situation has become in a state of uncertainty, which made the Federal Committee see the existence of fundamental changes that prompted it to take a reaction, adding that over the next months and weeks the committee will work to monitor markets and developments and take appropriate decisions to support the economy, He explained that the American economy is strong, but it is difficult to determine the extent of the negative effects of the spread of the Corona virus locally and globally.

Powell stressed during the press conference that the committee’s decision to cut interest at Tariq’s meeting for the first time since the global financial crisis that occurred more than a decade ago and by 50 basis points, which is rarely made by the Federal Reserve, is not a political decision but rather stems from a vision The Federal Committee for Current Events, and this came in the wake of US President Donald Trump's call repeatedly for the Federal Reserve and Powell County to cut interest and expand stimulus.

Technical analysis

The EURUSD pair confirmed the breach of the descending channel's resistance after closing the daily candle above it, which supports the continuation of the bullish trend scenario on the intraday and short term, whose targets begin by testing the 1.1240 level, noting that breaching this level will push the price to 1.1418 as the next main station.

It should be noted that consolidation above 1.1140 is important for the expected continuation of the upside, as breaking it will press the price to start a bearish corrective wave over the intraday basis, aiming to test 1.1045 areas initially before any new attempt to rise.

The expected trading range for today is between 1.1100 support and 1.1250 resistance.

Expected trend for today: bullish.

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its bounce to the fourth session from the lowest since 12 March 2009 against the US dollar, following the developments and economic data that were reported by 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 03:11 AM GMT, the Australian dollar pair rose against the US dollar by 0.35% to 0.6607 levels compared to the opening levels at 0.6584, after the pair achieved its highest level during the trading session at 0.6615, while the pair achieved its lowest at 0.6577.

We have followed the Australian economy to reveal the fourth quarter growth data with the release of the GDP index, which showed a slowdown in the pace of growth to 0.5% compared to 0.6% in the last third quarter, outperforming the expectations that indicated a 0.4% growth, while the annual reading of the same indicator showed The pace of growth accelerated to 2.2% compared to 1.8% in the previous annual reading for the third quarter, also outperforming the forecasts that indicated the acceleration of growth to 2.0%.

This came hours after the monetary policy makers at the Australian Central Bank on Tuesday cut interest rates by 25 basis points to 0.50% during the Reserve Bank of Australia meeting held on the third of this month, which came in line with expectations, and this comes after the central The Australian stabilized at 0.75% in the previous three meetings, and after reducing it by 25 basis points three times in previous meetings last year.

On the other hand, investors are looking for 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 a slowdown in the pace of job creation to 170 thousand added jobs compared to 291 thousand added jobs last January, before Hours of disclosure of the monthly report of jobs except agricultural and unemployment rates in addition to the hourly rate for the month of February after tomorrow, Friday.

This comes before we witness the issuance of the final reading of the Service Supply Institute index by Marquette about the United States, which may reflect the stability of the contraction at 49.4 unchanged from the initial reading of last month and against a widening at 53.4 in January, and before revealing the reading of the Institute's index Service supply, which may show a shrinkage in capacity to 54.9, compared to 55.5 in January.

We would like to point out that the importance of service provision lies in the fact that the service sector in America represents more than two-thirds of the gross domestic product, and finally the market is looking to unveil the Big Book, whose importance lies in the fact that it is issued two weeks before the meeting of the Federal Open Market Committee, which is scheduled to be held on 17-18 March is expected to reveal the Committee's expectations for the future of interest rates and the rate of growth, inflation and unemployment for the next three years.

This comes hours after the sudden meeting of the Federal Reserve yesterday, during which members of the Federal Open Market Committee decided to reduce the interest on federal funds by 50 basis points to between 1.00% and 1.25% after being installed in the previous two meetings of the Federal Reserve at between 1.50% And 1.75%, and after reducing it three times by 25 basis points in previous meetings last year.

In the same vein, we also followed yesterday, Tuesday, the press conference held by Federal Reserve Governor Jerome Powell after the decision to suddenly reduce markets to short-term benchmark interest rates, through which he noted that the decision came to support the American economy, while touching that over the past years wages increased The labor market has improved and the Committee has repeatedly stressed that the current monetary policy is appropriate.

Powell also expressed yesterday that several risks have arisen and the current situation has become in a state of uncertainty, which made the Federal Committee see the existence of fundamental changes that prompted it to take a reaction, adding that over the next months and weeks the committee will work to monitor markets and developments and take appropriate decisions to support the economy, He explained that the American economy is strong, but it is difficult to determine the extent of the negative effects of the spread of the Corona virus locally and globally.

Powell stressed during the press conference that the committee’s decision to cut interest at Tariq’s meeting for the first time since the global financial crisis that occurred more than a decade ago and by 50 basis points, which is rarely made by the Federal Reserve, is not a political decision but rather stems from a vision The Federal Committee for Current Events, and this came in the wake of US President Donald Trump's call repeatedly for the Federal Reserve and Powell County to cut interest and expand stimulus.

Technical analysis

The Australian dollar versus the US dollar succeeded in touching our awaited target at 0.6630 and maintained its stability without resisting the falling channel that appears in the image, and according to the trading rules inside the price channels, the price will start a descending wave targeting the support of the mentioned channel around 0.6465 initially, supported by the stochastic negativity.

Thus, the bearish bias will be expected during the upcoming sessions unless 0.6620 then 0.6670 levels are breached and stability above it.

The expected trading range for today is between 0.6530 support and 0.6620 resistance.

Expected trend for today: bearish.

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.

Fed đã hạ lãi suất từ 1.75% xuống 1.25% vào hôm qua. Quyết định này được đưa ra để kích thích nền kinh tế và hỗ trợ thị trường chứng khoán trong thời điểm khó khăn.
Một mô hình cắt giảm dần đã hình thành trên biểu đồ. Chỉ báo Awesome Oscillator cho thấy sự phân kỳ tăng, trong khi chỉ báo Stochastic Oscillator cho thấy một lối ra khỏi vùng bán quá mức.

Đề xuất giao dịch:
Mua trong khi một mô hình tăng dần đang hình thành, trong đó sóng phá vỡ qua kênh nghiêng của mô hình cắt giảm dần.
Dừng lỗ: 185.00.
Cấp mục tiêu: 203.30; 209.30; 218.10.

The Fed lowered its interest rate from 1.75% to 1.25% yesterday. This decision was made to stimulate the economy and support stock markets in difficult times.

A descending truncated pattern has formed on the chart. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator shows an exit from the oversold zone.

Trading recommendatoins:

Buy while an ascending pattern is forming, where the wave a breaks through the inclined channel of the descending truncated pattern.

Stop loss: 185.00.

Target levels: 203.30; 209.30.; 218.10.