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The overall trend is downward. A descending truncated H8 level pattern has formed on the wave (C) which also has a truncated pattern. Awesome Oscillator shows a bullish divergence, and Stochastic Oscillator signals oversoldness. A breakout of 1.3240 will result in the formation of an uptrend within the overall uptrend.

Trading recommendations:

Buy above 1.3240.

Stop loss under the local minimum.

Target levels: 1.3276; 1.3319.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its highest level since February 12, when it experienced its highest level since January 21 against the Japanese yen following the developments and economic data that it reported on the Japanese economy and on the cusp of developments and economic data. Expected today, Wednesday, by the US economy, which includes the speech of members of the Federal Open Market Committee and the disclosure of the minutes of the Federal Reserve meeting.

At 05:52 am GMT, the US dollar pair rose against the Japanese yen by 0.16% to 110.05 levels compared to the opening levels at 109.87, after the pair achieved its highest level in a week at 110.11, while it achieved its lowest during the trading session at 109.85.

On the Japanese economy, we have followed the release of the Trade Balance Index reading, which showed that the deficit widened to 1,313 billion yen compared to 155 billion yen last December, contrary to expectations that the deficit widened to 1,685 billion yen, as the seasonally adjusted reading of the same indicator showed The deficit widened to 224 billion yen from 107 billion yen in December, also contrary to expectations that the deficit widened to 550 billion yen.

This came with the annual reading of both exports and imports showing a decline in January, and in conjunction with the disclosure of a reading of the machinery orders index, which showed a 12.5% ​​decline compared to an increase of 18.0% last November, worse than the expectations that indicated a 9.0% decline Also, the annual reading of the same index showed a decline of 3.5% against a rise of 5.3%, also worse than expectations that indicated a decline of 1.3%.

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 the stability of growth at 0.1% compared to during December, while the fundamental reading of the same indicator may show acceleration of growth to 0.2% against 0.1%,

This also comes in conjunction with the disclosure of housing market data, with the release of both the beginning construction index and the building permit index, and amid expectations that the reading of the building permits index will reflect a 2.1% increase to about 1,450 thousand permits compared to a decline of 3.9% at 1,416 thousand permits in December / December, while the reading of the index of start-up homes, may reflect a decline of 12.0% to about 1,415 thousand homes compared to a rise of 16.9% at 1,608 thousand homes.

Reaching the upcoming event today, the Federal Reserve revealed the minutes of the Federal Open Market Committee meeting held on January 28-29, in which the Federal Reserve monetary policy makers decided to keep interest rates on federal funds at between 1.50% And 1.75% for the third consecutive meeting at the time.

Technical analysis

The dollar against the yen pair resumes its positive trades to test the 110.00 barrier, reinforcing expectations of the continuation of the expected bullish trend over the intraday basis, pending a visit to the 110.50 level which represents our first positive target, with a reminder that exceeding this level will push the price to 111.50 as the next station.

SMA 50 continues to support the suggested bullish wave, which will remain valid and active unless 109.33 level is broken and stability below it.

The expected trading range for today is between 109.50 support and 110.80 resistance

Expected trend for today: bullish

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 its highest since January 8, when it tested the highest for it since March 22, 2017 amid the rise in the US dollar index, indicating its stability near From above, since the beginning of October, when he tested the highest for him since May 12, 2017, according to the inverse relationship between them.

This comes on the cusp of developments and economic data expected today Wednesday by the US economy, the largest economy in the world, which includes the talk of members of the Federal Open Market Committee and the Federal Reserve revealed the minutes of the meeting of the Federal Open Market Committee and in the shadow of investors' assessment of the developments of the spread of the Corona virus amid the Chinese government’s emphasis on Slowing the frequency of coronavirus infection.

At exactly 04:28 AM GMT, gold price futures for April delivery rose 0.02% to trade at $ 1,604.50 per ounce compared to the opening at $ 1,604.80 per ounce, knowing that the contracts started the trading session on an upward price gap after yesterday's trading was concluded At $ 1,603.60 an ounce, with the US dollar index rising 0.01% to 99.44 compared to the opening at 99.43.

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 the stability of growth at 0.1% versus during December, while the fundamental reading of the same indicator may show acceleration of growth to 0.2% against 0.1%, This coincided with the talk of Federal Committee member and President of the Cleveland Bank of the Federal Reserve Loretta Mester at the Executive Women’s Forum in Philadelphia.

This also comes in conjunction with the disclosure of housing market data, with the release of both the beginning construction index and the building permit index, and amid expectations that the reading of the building permits index will reflect a 2.1% increase to about 1,450 thousand permits compared to a decline of 3.9% at 1,416 thousand permits in December / December, while the reading of the index of start-up homes, may reflect a decline of 12.0% to about 1,415 thousand homes compared to a rise of 16.9% at 1,608 thousand homes.

This comes before we witness the talk of two other members of the Federal Committee, President of the Minneapolis Federal Reserve Bank Neil Kashkari at the twelfth annual symposium on agriculture in the state of Minnesota, before Federal Reserve Vice President Dallas Kaplan delivered a speech entitled "Presented by the Federal Reserve "At the Urban Land Institute of North Texas in Dallas.

Reaching the upcoming event today, the Federal Reserve revealed the minutes of the Federal Open Market Committee meeting held on January 28-29, in which the Federal Reserve monetary policy makers decided to keep interest rates on federal funds at between 1.50% And 1.75% for the third consecutive meeting at the time.

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, the National Health Commission of China has just announced 1,749 new confirmed cases of Corona virus, down from 1,886 cases announced yesterday, which showed the lowest rate of new coronavirus infections in China since January 29. January, while the death toll from the deadly virus, which has already spread to more than 24 other countries, has risen to more than 2,000.

It is noteworthy that the People's Bank of China (the Chinese Central Bank) last Monday reduced the average term interest rate by ten basis points to 3.15% from 3.25%, which paves the way for the Chinese central bank to cut key interest rates tomorrow, Thursday, amid expectations of intensifying monetary policy makers at the People's Bank of China. Measures to reduce liquidity and financing conditions in the face of financial pressures on the largest economies of Asia and the second largest economy in the world due to the spread of Corona

Technical analysis

Gold price trades around the 1600.00 level after yesterday's bullish rally, and the price needs to surpass the resistance of the bullish intraday channel that appears in the picture to confirm the continuation of achieving gains in the intraday and short term, where our next main target is located at 1611.20, whose breach represents the key to the trend towards 1625.00 as a station deification.

SMA 50 continues to support the suggested bullish wave, noting that a break of 1575.90 will stop the expected rise and put pressure on the price to return to the corrective downside path again.

The expected trading range for today is between 1585.00 support and 1620.00 resistance.

Expected trend for today: bullish.

The euro currency fluctuated in a narrow range slanting upward during the Asian session to witness its bounce to the second session from the lowest since the third week of April 2017 (when trading began on an upward price gap after the French President Emmanuel Macron won the main French elections at the time) against the US dollar On the cusp of developments and economic data expected on Wednesday by the economies of the euro area and the US economy, which include the speech of members of the Federal Open Market Committee and the disclosure of the minutes of the Federal Reserve meeting.

At exactly 05:38 AM GMT, the euro pair rose against the US dollar by 0.04% to 1.0796 levels compared to the opening levels at 1.0792, after the pair achieved its highest level during the trading session at 1.0804, while achieving the lowest at 1.0791.

The markets are looking for the eurozone economies as a whole to reveal the seasonally adjusted reading of the current account index, which may reflect the widening of the surplus to 34.5 billion euros against 33.9 billion euros last November. Otherwise, we followed yesterday the European Union Trade Commissioner Phil Hogan On the fact that any damage that may be caused to the British economy after the expiry of the transitional period that follows Britain's exit from the Union lies entirely with Britain.

In the same context, Trade Commissioner Hogan noted that the European Union is seeking to maintain strong economic cooperation with the United Kingdom, while stating that reaching any free trade agreement between Brussels and London must include a number of criteria, including competition and environmental standards, explaining that the union seeks To reach an equitable solution, while Britain does not want this, adding that any future turmoil between the two parties is up to Britain and has full responsibility.

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 the stability of growth at 0.1% compared to during December, while the fundamental reading of the same indicator may show acceleration of growth to 0.2% against 0.1%,

This also comes in conjunction with the disclosure of housing market data, with the release of both the beginning construction index and the building permit index, and amid expectations that the reading of the building permits index will reflect a 2.1% increase to about 1,450 thousand permits compared to a decline of 3.9% at 1,416 thousand permits in December / December, while the reading of the index of start-up homes, may reflect a decline of 12.0% to about 1,415 thousand homes compared to a rise of 16.9% at 1,608 thousand homes.

Reaching the upcoming event today, the Federal Reserve revealed the minutes of the Federal Open Market Committee meeting held on January 28-29, in which the Federal Reserve monetary policy makers decided to keep interest rates on federal funds at between 1.50% And 1.75% for the third consecutive meeting at the time.

Technical analysis

The euro against the dollar is moving below the 1.0800 barrier, and the price continues to crawl towards our expected target at 1.0760, while the price organizes inside a descending channel that supports chances of achieving further decline during the coming period, noting that exceeding the mentioned level will push the price to 1.0680 as the next station.

Thus, the downside scenario will remain dominant unless 1.0860 level is breached and stability is maintained with daily closing above it.

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

Expected trend for today: bearish.

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its bounce to the second session from the lowest since February 10 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 on Wednesday by the US economy These include the FOMC panel talk and the release of the FOM minutes.

At 02:26 am GMT, the Australian dollar pair rose against the US dollar by 0.16% to 0.6697 levels, compared to the opening levels at 0.6686, after the pair achieved its highest during the trading session at 0.6701, while achieving the lowest at 0.6684.

This has been followed up on the Australian economy by the release of the leading indicators reading by the Melbourne Institute, which showed an increase of 0.1% against stability at zero levels last December, and this came before the disclosure of labor market data with the release of the wage price index, which showed stable growth at 0.5% are in line with expectations during the fourth quarter, as the annual reading of the same index showed stability in growth of 2.2% also in line with expectations.

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 the stability of growth at 0.1% compared to during December, while the fundamental reading of the same indicator may show acceleration of growth to 0.2% against 0.1%, in conjunction with a speech by Federal Reserve Board member and President of Cleveland Bank Loretta Mister at the Women's Executive Forum in Philadelphia.

This also comes in conjunction with the disclosure of housing market data, with the release of both the beginning construction index and the building permit index, and amid expectations that the reading of the building permits index will reflect a 2.1% increase to about 1,450 thousand permits compared to a decline of 3.9% at 1,416 thousand permits in December / December, while the reading of the index of start-up homes, may reflect a decline of 12.0% to about 1,415 thousand homes compared to a rise of 16.9% at 1,608 thousand homes.

Reaching the upcoming event today, the Federal Reserve revealed the minutes of the Federal Open Market Committee meeting held on January 28-29, in which the Federal Reserve monetary policy makers decided to keep interest rates on federal funds at between 1.50% And 1.75% for the third consecutive meeting at the time.

Technical analysis

The Australian dollar versus the US dollar trades stable near the 0.6670 level, and we wait for the breach of this level to confirm the continuation of the bearish trend in the intraday and short term, where our next target is located at 0.6560.

The stochastic and the moving average 50 provide negative signals that support the chances of achieving the required break, to keep our expectations for the bearish direction for the coming period, provided that the price maintains its stability below 0.6754.

The expected trading range for today is between 0.6650 support and 0.6720 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.

The resistance level of 136.24 is holding back buyers. Awesome Oscillator shows a bearish divergence, and Stochastic Oscillator indicator indicates overboughtness. An ascending truncated pattern has formed.

Trading recommendations:

Sell while the descending pattern is forming, where wave (A) breaks through the inclined channel of the ascending pattern. Sell on breaking the wave (A) while a descending structure is forming.

Stop loss for the resistance level of 136.25.

Target levels: 129.30; 123.10; 120.00.

The pair consolidates above 1.2985 in anticipation of the UK consumer inflation data. The pair will continue falling if the indicators are worse than predicted. At the same time, if the data is above the expected values, the pair will receive significant support.

The price is below the middle Bollinger band, at SMA 5 and below SMA 14. RSI is below the 50% level and moves horizontally. Stoch are below the 50% level and indicates a weakening of the price decline.

Trading recommendations:

Make a decision based on the released data.The price can turn up and surge to 1.3070 in case of positive news. In the opposite scenario, there is a high probability of a drop to 1.2920.

The resistance level of 83.10 continues to hold back buyers. At the moment, the ascending pattern is truncated. Awesome Oscillator indicator shows a bearish divergence, while Stochastic Oscillator signals overboughtness. A price pivot zone of 82.65 has formed, which now serves as a support level.

Trading recommendations:

Sell while a descending wave pattern is forming below the price pivot zone of 82.65.

Stop loss for the resistance level of 83.10.

Target levels: 82.25; 81.60.

The Australian dollar fell during the Asian session to witness the lowest since February 11 against the US dollar after the disclosure of the minutes of the Australian Central Bank meeting and on the cusp of developments and economic data expected today by the American economy, which includes the speech of a member of the Federal Open Market Committee and President of the Minneapolis Bank The Federal Reserve on the proposal to amend education in Minnesota at the Council of Indian Affairs in Minnesota in St. Paul.

At exactly 03:04 AM GMT, the Australian dollar pair declined against the US dollar by 0.40% to 0.6687 levels, compared to the opening levels at 0.6714, after the pair achieved its lowest in a week at 0.6684, while it achieved its highest during the trading session at 0.6716.

We have followed the Reserve Bank of Australia’s disclosure of the minutes of its meeting held on the fourth of this month in which interest rates were fixed at the lowest ever at 0.75% for the third meeting in a row, and the monetary policy makers of the Australian Central Bank through the minutes indicated that although While there is a justification for expanding interest rate cuts, the decision to keep them ready is to avoid encouraging additional borrowing amid high house prices.

On the other hand, investors are currently waiting for the US economy, the largest industrialized country in the world, to disclose data on the industrial sector with the release of the New York Industrial Index reading, which may reflect an expansion of what amounted to 5.1 compared to 4.8 last January, and that comes before we witness the disclosure of Housing market data with the release of the housing index reading by the National Association of Home Builders, which may reflect stability at $ 75 during January.

Technical analysis

The Australian dollar versus the US dollar shows new negative trading with the opening of the day, to approach our first awaited target at 0.6670, awaiting further decline to break this level and opening the way for heading towards our next target that extends to 0.6560.

The stochastic is providing negative signals that support the chances of achieving the required break, so we will continue to suggest the downside trend during the upcoming sessions unless the price rushes to breach the 0.6754 level and hold above it.

The expected trading range for today is between 0.6650 support and 0.6720 resistance.

Expected trend for today: bearish.