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The euro currency fluctuated in a narrow range slanting upward during the Asian session to witness its bounce for the second session from the lowest since April 2017, while it is still facing its third consecutive weekly losses against the US dollar on the cusp of developments and economic data expected on Friday by the economies The euro area and the US economy are the largest in the world and include recent members of the Federal Open Market Committee.

At 05:31 am GMT, the euro against the US dollar rose 0.08% to 1.0794 levels compared to the opening levels at 1.0785, which is the lowest level for the husband during the trading session, while the pair achieved its highest level during the trading session at 1.0795.

Currently, markets are looking for both the French and German economies and the economies of the region as a whole. The first reading of the Markit index of industrial and service purchasing managers for the current month, which may reflect the breadth of the service sector and the shrinking of the breadth of industry in France, the shrinking of the services sector and the shrinking of the industrial sector in Germany and the economies of the region as a whole .

This comes before we witness the disclosure of inflation data for the eurozone economies as a whole with the release of the annual final reading of the consumer price index, which may reflect the stability of growth at 1.4%, little changed from the initial reading for January and 1.3% in the previous reading for the first month of Kaun Last December, as the substantial annual reading of the same index may show, the growth rate is at 1.1%, also without significant change from the initial reading and against 1.3%.

On the other hand, it is expected that the Federal Open Market Committee member and Dallas Fed President Robert Kaplan will deliver the opening speech at a conference hosted by the Dallas Fed, before we witness the disclosure of the initial reading of the Markit manufacturing PMI for the United States, which may reflect the stability of The breadth was at 53.3, little changed from the previous reading in January.

This also comes in conjunction with the disclosure of the initial reading of the Markit Services PMI for America, which may show a shrinkage in value to 51.5 compared to 51.9 in the previous reading in January, and before we witness the disclosure of housing market data with the release of the Home Sales Index The list, which could show a decline of 1.7% to 5.46 million homes, compared to a rise of 3.6% at 5.54 million homes in December.

Up to the participation of two other members of the Federal Committee at the US Monetary Policy Forum 2020 in New York, each of the Deputy Governor of the Federal Reserve Bank of Elle Brenard, who is scheduled to participate in a seminar on monetary policy for the next recession, and we are witnessing the participation of another Deputy Governor of the Federal Reserve, Richard Clararda is in another panel discussion entitled "Hall of Mirrors: Feedback between Monetary Policy and Financial Markets".

Technical analysis

The EURUSD pair did not show any strong movement in the previous sessions, to continue moving within a stable stable range below the 1.0800 barrier, and therefore, there is no change in the scenario of the bearish trend that depends on stability below 1.0860, which is supported by the negative pressure formed by the EMA50, with Remember that our main awaited targets start at 1.0760 then 1.0680.

The expected trading range for today is between 1.0700 support and 1.0860 resistance.

Expected trend for today: bearish.

The Australian dollar versus the US dollar continues to decline, approaching the support of the descending channel that appears in the picture, which supports the chances of achieving further decline during the upcoming sessions, reminding us that we are waiting for the 0.6560 level to be tested as a next negative station.

Therefore, the downside scenario will remain intact and active in the intraday and short term provided that the price maintains its stability below 0.6670.

The expected trading range for today is between 0.6560 support and 0.6640 resistance.

Expected trend for today: bearish.

The Australian dollar fell during the Asian session to witness its lowest level since March 18 of 2009 against the US dollar, following the developments and economic data that it had reported on the Australian economy and on the cusp of developments and economic data expected Thursday by the US economy, the largest economy in the world.

At exactly 02:53 AM GMT, the Australian dollar pair declined against the US dollar by 0.51% to 0.6641 levels, compared to the opening levels at 0.6674, after the pair achieved its lowest in more than a decade at 0.6633, while achieving the highest during trading The session is at 0.6695.

This has followed us on the Australian economy, the disclosure of labor market data with the release of the unemployment rate reading, which showed an increase to 5.3% compared to 5.1% last December, worse than the expectations that indicated its rise to 5.2%, and this came with the reading of the change index showing in Employment, up to about 13.5 thousand, compared to a rise of about 28.7 thousand in December, is better than expectations, which indicated an increase to about 10.0 thousand.

On the other hand, investors are currently waiting for the US economy to disclose data on the industrial sector with the release of the Philadelphia Industrial Index reading, which may reflect a shrinkage in breadth to 10.1 compared to 17.0 last January, and this comes in conjunction with the release of the index of aid requests for the week Last February 15th, which may reflect a rise of 5 thousand requests to 210 thousand requests compared to 205 thousand requests in the previous weekly reading.

This also comes in conjunction with the issuance of the reading of the continuous benefit requests index for the past week on the eighth of this week, which may reflect an increase of 19 thousand applications to 1,717 thousand applications compared to 1,698 thousand requests in the previous weekly reading, up to the disclosure of reading the leading indicators that may appear Up 0.4%, compared to a decline of 0.3% in December.

This comes hours after the minutes of the Federal Open Market Committee meeting held on January 28-29, during which members of the committee approved the maintenance of short-term benchmark interest rates between 1.50% and 1.75% for the third meeting, respectively. The minutes mentioned that the current monetary policy is appropriate and will remain in place for some time, indicating that the interest on federal funds remains unchanged during the coming period.

Technical analysis

The Australian dollar versus the US dollar managed to break the 0.6670 level and is trying to stabilize below it, which supports the continuation of our effective expectations for the downside trend during the coming period, paving the way for the trend towards 0.6560 which represents our next main station.

Therefore, we await further decline today, noting that stability below 0.6670 is important for the continuation of the suggested bearish bias.

The expected trading range for today is between 0.6580 support and 0.6670 resistance.

Expected trend for today: bearish.

Cisco shares returned to the movement below the support level 46.89 after being able to stabilize below it to continue the side movement.

The stock is now moving below the moving averages, which are moving above the price and forming resistance levels for it.

The stochastic oscillator is in a bearish path towards the oversold zone, thus influencing the price and pushing it down and testing the support level 43.88.

General direction of movement: both sides tend to fall.

The euro currency fluctuated in a narrow range that tilted back down during the Asian session to reflect its stability near its lowest level since the third week of April 2017, when trading began on an upward price gap after the French President Emmanuel Macron won the French main elections against the US dollar on the cusp of developments The economic data expected on Thursday by the economies of the euro area and the US economy, the largest economy in the world.

At 05:02 am GMT, the euro against the US dollar fell 0.06% to 1.0799 levels compared to the opening levels at 1.0805, after the pair achieved its lowest level during the trading session at 1.0792, while achieving the highest at 1.0815.

Investors, by the largest Eurozone economies, are looking to Germany to reveal a statistical reading of the GFK consumer confidence index that may reflect the stability of the expansion at 9.9 during March, in conjunction with the release of the producer price index, which is an initial indication of inflationary pressures and that may show stability Growth at 0.1% during January, while the annual reading of the same indicator may show widening contraction to 0.4% versus 0.2%.

This comes before we witnessed by the second largest economy in the euro area, France, the final reading of the consumer price index, which may reflect the stability of the deflation at 0.4%, little changed from the initial reading of the previous month of January and against the growth of 0.4% last December. Up to the ECB's disclosure of the ECB monetary policy meeting held on January 23.

By mentioning that the monetary policy makers of the European Central Bank kept at the bank’s last meeting on interest rates at their zero levels and the marginal lending rate at 0.25% while remaining on the interest rate on deposits -0.50%, while proceeding with the quantitative easing program at 20 billion euros per month which It was activated last November as long as needed.

In the same vein, we followed yesterday. The advisor to the chief commercial commissioner in the European Union, Stefan de Rink, expressed the fact that the European Union assured Britain some time ago that any trade agreement with it must include the rules of fair competition between the two parties, adding that trade talks with Britain will be difficult. To some extent, it will probably be more difficult than it was to negotiate over Britain's exit from the European Union.

Otherwise, we also followed yesterday. German Finance Minister Olaf Schultz reported that there are no signs of stagnation in his country's economy, adding that the G20 meeting, which will take place on 22-23 of this month, is expected to result in the capital of the Kingdom of Saudi Arabia, Riyadh, which will be at the level of Finance ministers of the twentieth countries, on the agreement about the minimum tax on companies, especially technology giants.

German Finance Minister Schultz also stressed the importance of the Group of Twenty countries to support global economic growth, especially in the shadows of fears of the spread of the Coruna virus, adding that we must ensure that we are able to take the necessary steps, with his statement that until now they continue to monitor developments related to the virus The killer, adding that he expected the largest economies of the euro area 1.1% this year despite the repercussions of the coronavirus.

On the other hand, investors are currently waiting for the US economy to disclose data on the industrial sector with the release of the Philadelphia Industrial Index reading, which may reflect a shrinkage in breadth to 10.1 compared to 17.0 last January, and this comes in conjunction with the release of the index of aid requests for the week Last February 15th, which may reflect a rise of 5 thousand requests to 210 thousand requests compared to 205 thousand requests in the previous weekly reading.

This also comes in conjunction with the issuance of the reading of the continuous benefit requests index for the past week on the eighth of this week, which may reflect an increase of 19 thousand applications to 1,717 thousand applications compared to 1,698 thousand requests in the previous weekly reading, up to the disclosure of reading the leading indicators that may appear Up 0.4%, compared to a decline of 0.3% in December.

This comes hours after the minutes of the Federal Open Market Committee meeting held on January 28-29, during which members of the committee approved the maintenance of short-term benchmark interest rates between 1.50% and 1.75% for the third meeting, respectively. The minutes mentioned that the current monetary policy is appropriate and will remain in place for some time, indicating that the interest on federal funds remains unchanged during the coming period.

Technical analysis

The narrow range has dominated the trading of the euro against the dollar since yesterday, which maintains its stability below the 1.0800 barrier, and therefore, the bearish trend scenario will remain as it is without change for the next period, supported by the negative pressure that the moving average 50 constitutes, noting that our targets Awaited starts at 1.0760 then 1.0680, while achieving it requires stability below 1.0860.

The expected trading range for today is between 1.0700 support and 1.0860 resistance.

Expected trend for today: bearish.

Gold price futures fluctuated in a narrow range that tilted back down during the Asian session to witness its bounce for the second session from the top since March 21, 2013 amid the rise of the US dollar index to its highest since May 11 of 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.

At exactly 04:04 AM GMT, gold price futures for April delivery decreased 0.14% to trade at $ 1,612.80 per ounce compared to the opening at $ 1,615.00 per ounce, knowing that the contracts started the trading session on an upward price gap after yesterday's trading was concluded At $ 1,611.80 an ounce, with the US dollar index rising 0.15% to 99.69 compared to the opening at 99.54.

Investors are currently waiting for the US economy to disclose data on the industrial sector with the release of the Philadelphia Industrial Index reading, which may reflect a shrinkage in breadth to 10.1 compared to 17.0 in January, and this comes in conjunction with the release of the aid claims index for the past week in 15 From February, which may reflect a rise of 5 thousand requests to 210 thousand requests compared to 205 thousand requests in the previous weekly reading.

This also comes in conjunction with the issuance of the reading of the continuous benefit requests index for the past week on the eighth of this week, which may reflect an increase of 19 thousand applications to 1,717 thousand applications compared to 1,698 thousand requests in the previous weekly reading, up to the disclosure of reading the leading indicators that may appear Up 0.4%, compared to a decline of 0.3% in December.

This comes hours after the minutes of the Federal Open Market Committee meeting held on January 28-29, during which members of the committee approved the maintenance of short-term benchmark interest rates between 1.50% and 1.75% for the third meeting, respectively. The minutes mentioned that the current monetary policy is appropriate and will remain in place for some time, indicating that the interest on federal funds remains unchanged during the coming period.

It is noteworthy that the Federal Reserve Governor Jerome Powell expressed during the press conference held after the meeting of the Federal Committee at the time, that the decisions of the committee depend on the economic data received, while touching that if inflation rates remain below the target of the Federal Reserve, this may lead to a reduction Expectations of inflation and thus reduce short-term interest rates, adding that inflation is expected to reach the target within the next three months.

Powell also noted at the time that the Federal Reserve is seeking to avoid the stability of inflation below the target of two percent, with his statement that there will be slight adjustments to the reserve reserve mandatory and that the general budget will continue to expand over time, adding that the Federal Reserve expects support from repurchases during April / This April, with the indication that it is regrettable that the Coruna virus is spreading and that it is expected to have a negative impact on the Chinese economy.

Powell also touched on the fact that the Federal Reserve is closely monitoring the situation regarding the spread of the Corona virus and its impact on the economy, while stating that there are some cautious optimism about the global economy, pointing out that the financial conditions are improving and trade tensions have declined, indicating that his country signed with China for the first stage of the trade agreement. This is in addition to the decrease in the chances of Britain leaving without an agreement from the European Union, which contributes to supporting the positive expectations.

On the other hand, monetary policy makers at the People's Bank of China (the Chinese Central Bank) have just decided to reduce the interest rate on lending for one year by 10 basis points and for a period of five years by 5 basis points, which was widely expected in the markets, and this came Hours after the Chinese Central Bank last Monday cut the average term loan interest by ten basis points to 3.15% from 3.25%, amid intensified liquidity measures and financing conditions in the face of financial pressures on the second largest economy in the world due to the spread of Corona.

Technical analysis

The gold price continues to fluctuate around 1611.20 level and is trying to breach it, noting that the stochastic index starts to get rid of its negative momentum, waiting for a positive momentum sufficient to push the price to overcome the mentioned level and confirm the trend towards our next target at 1625.00.

SMA 50 continues to support the price from below, to keep our expectations for the bullish direction for the coming period, taking into consideration that failure to achieve the required breach may pressure the price to test 1575.90 areas before any new attempt to rise.

The expected trading range for today is between 1600.00 support and 1625.00 resistance.

Expected trend for today: bullish.

The fluctuation of the US dollar in a narrow range slanting upward during the Asian session, its stability near its highest level since the beginning of last May against the Japanese yen amid the scarcity of economic data 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 05:53 AM GMT, the US dollar pair rose against the Japanese yen by 0.03% to 111.40 levels compared to the opening levels at 111.37, after the pair achieved its highest level during the trading session at 111.49, while achieving the lowest at 111.11.

Investors are currently awaiting by the US economy the disclosure of industrial sector data with the release of the Philadelphia Industrial Index reading, which may reflect a shrinkage in breadth to 10.1 compared to 17.0 in January, and this comes in conjunction with the release of the index of subsidy requests for the past week in February 15th, which may reflect a rise of 5 thousand requests to 210 thousand applications compared to 205 thousand requests in the previous weekly reading.

This also comes in conjunction with the issuance of the reading of the continuous benefit requests index for the past week on the eighth of this week, which may reflect an increase of 19 thousand applications to 1,717 thousand applications compared to 1,698 thousand requests in the previous weekly reading, up to the disclosure of reading the leading indicators that may appear Up 0.4%, compared to a decline of 0.3% in December.

This comes hours after the minutes of the Federal Open Market Committee meeting held on January 28-29, during which members of the committee approved the maintenance of short-term benchmark interest rates between 1.50% and 1.75% for the third meeting, respectively. The minutes mentioned that the current monetary policy is appropriate and will remain in place for some time, indicating that the interest on federal funds remains unchanged during the coming period.

Technical analysis

The dollar pair against the yen surged strongly yesterday, exceeding our first target of 110.50 and achieving the second at 111.50, opening the way for a continuation of the rise in the short term, regular inside the bullish channel that appears in the picture, waiting for the visit of the previously recorded summit at 112.39 as the next stop.

Thus, the bullish trend scenario will remain effective during the upcoming sessions provided that the price maintains its stability above 110.80.

The expected trading range for today is between 110.80 support and 112.30 resistance.

Expected trend for today: bullish.

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 pair is above 0.6640, still under pressure amid the expectations of a strong decline in Chinese economic growth due to the new virus' impact on the production activity. Australia is closely linked economically with China, so the decline in demand for Australian exports will harm the country's economy, which will ultimately affect the local currency exchange rate.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold zone and is declining. Stoch are also there, but uninformative.

Trading recommendations:

Sell the pair after it crosses the level of 0.6640 with a likely target of 0.6600.

The overall trend is upward. Breaking through the resistance level of 770.00 will result in the formation of an uptrend within the overall uptrend. Also, a bullish divergence has formed on the Awesome Oscillator.

Trading recommendations:

Buy above 770.00.

Stop loss: 740.00.

Target levels: 797.0; 833.50.