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The pair is trading at 1.0905. It’s expected to resume falling amid the weaker EU economy and the ECB’s vague monetary policy position. USD is consolidating against EUR primarily thanks to the weakness of the latter, and not due to its intrinsic strength.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is on the level of the oversold zone. Stoch have reversed downwards.

Trading recommendations:

Sell the pair with a possible target of 1.0850 after it goes below 1.0905.

The single currency fluctuated the euro in a narrow range slanting back down during the Asian session to witness its stability near its lowest since the beginning of October, when it tested the lowest since 12 May 2017 against the dollar on the cusp of developments and economic data expected today Wednesday by the economies The Eurozone and the US economy, which includes the activities of the second half of Federal Reserve Governor Jerome Powell's testimony before Congress.

At 04:51 am GMT, the euro against the US dollar fell 0.03% to 1.0913 levels compared to the opening levels at 1.0916, after the pair achieved its lowest level during the trading session at 1.0912, while achieving the highest at 1.0921.

Markets are looking for euro zone economies as a whole to disclose data on the industrial sector with the release of a seasonally adjusted reading of the industrial production index, which may reflect a 1.8% decline against a rise of 0.2% last November, while the annual reading of the same indicator may show a widening decline to 1.9% Compared to 1.5% in the prior annual reading for November.

Other than that, yesterday we followed the talk of European Central Bank Governor Christine Lagarde about the European Central Bank’s annual report to the European Parliament in Strasbourg, through which it expressed that the side effects of monetary policy expand over time and that monetary policy cannot become the main driver in the markets , Explaining that the longer the facilitative monetary policy is extended for a longer period, this will have an expanded negative impact.

On the last level, investors are currently looking for what will be revealed by the speech of Federal Open Market Committee member and Chairman of the Federal Reserve Bank Patrick Harker about the economic outlook in the state of Pennsylvania, before we witness the activities of the second half of the semi-annual testimony of the Governor of the Federal Reserve Jerome Powell Cash before the Senate Banking Committee.

This comes hours after the Federal Reserve Governor Powell delivered on Tuesday the first half of his semi-annual testimony about monetary policy before the Financial Services Committee in the House of Representatives, through which he expressed the fact that the current monetary policy of the Federal Reserve is appropriate and that inflation is expected to rise to the goal of the Federal Market Committee Open at two percent in the next few months with his statement that core inflation is at 1.6 percent.

Powell also noted yesterday that the Federal Reserve began facilitating monetary policy to support the economy since the second half of last year, and that the current monetary policy supports growth and contributed to improving conditions in the labor market in addition to supporting the growth of inflationary pressures towards the goal of the Federal Committee, adding that the Federal Reserve places in Considering that reducing interest on federal funds more broadly limits its ability to act at the time of an economic recession.

Powell reiterated, within his testimony before Congress, his expectations that the Federal Committee would go ahead in purchasing bonds during the second quarter of this year and that the repo rate will remain active in the markets until next April at the very least, and we would like to point out that many market analysts believe that the reserve operations The Federal Reserve is a form of quantitative easing that is left untouched, while the Federal Reserve refuses to call a quantitative easing on what it does.

In another context, Powell mentioned the Corona virus, which killed more than a thousand people, mostly in China, specifically in the city of Wuhan, which Corona started, where he asked whether the impact of the deadly virus on China and the United States is temporary or permanent, explaining that it is too early to talk about The extent of its impact on his country's economy, adding that the Federal Reserve will closely monitor developments related to the virus, which may affect global supply chains, including America.

It is reported that US President Donald Trump tweeted yesterday on his official account on Twitter during Powell's testimony before Congress, "The interest on federal funds is very high and the US dollar is putting pressure on exports". Otherwise, investors are now looking by the US economy for the Treasury to reveal the Federal Budget reading That could reflect the deficit shrinking to $ 10.7 billion, compared to $ 13.3 billion last December.

Technical analysis

The EURUSD pair presented additional negative trades yesterday and approached our awaited target at 1.0860, noting that the stochastic indicator lost its positive resolve to show clear saturation in the purchase, waiting for price stimulus to resume the bearish bias whose targets extend to 1.0760 after exceeding the first goal.

In general, we will continue to favor the bearish trend for the next period unless the price rushes to breach the 1.1010 level and stability above it.

The expected trading range for today is between 1.0830 support and 1.0980 resistance.

Expected trend for today: bearish.

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session to witness the resumption of its rebound from the lowest since January 22 for the fifth session in six sessions amid the rebound of the US dollar index for the second consecutive session from the highest since October 10 / October, according to the inverse relationship between them on the cusp of developments and economic data expected today Wednesday by the US economy, which includes the activities of the second half of the semi-annual testimony of Federal Reserve Governor Jerome Powell in front of Congress.

At exactly 03:55 AM GMT, gold price futures for April delivery rose 0.01% to trade at $ 1,571.30 per ounce compared to the opening at $ 1,571.20 per ounce, knowing that the contracts started the trading session on an upward price gap after yesterday's trading was concluded At $ 1,570.10 per ounce, with the US dollar index down 0.03% to 98.75 compared to the opening at 98.78.

Investors are currently looking for what will be revealed by the speech of Federal Open Market Committee member and Chairman of the Federal Reserve Bank Patrick Harker about the economic outlook in the state of Pennsylvania, before we witness the activities of the second half of the Federal Reserve Governor Jerome Powell's statement regarding monetary policy before the committee Banking in the Senate.

This comes hours after the Federal Reserve Governor Powell delivered on Tuesday the first half of his semi-annual testimony about monetary policy before the Financial Services Committee in the House of Representatives, through which he expressed the fact that the current monetary policy of the Federal Reserve is appropriate and that inflation is expected to rise to the goal of the Federal Market Committee Open at two percent in the next few months with his statement that core inflation is at 1.6 percent.

Powell also noted yesterday that the Federal Reserve began facilitating monetary policy to support the economy since the second half of last year, and that the current monetary policy supports growth and contributed to improving conditions in the labor market in addition to supporting the growth of inflationary pressures towards the goal of the Federal Committee, adding that the Federal Reserve places in Considering that reducing interest on federal funds more broadly limits its ability to act at the time of an economic recession.

Powell reiterated, within his testimony before Congress, his expectations that the Federal Committee would go ahead in purchasing bonds during the second quarter of this year and that the repo rate will remain active in the markets until next April at the very least, and we would like to point out that many market analysts believe that the reserve operations The Federal Reserve is a form of quantitative easing that is left untouched, while the Federal Reserve refuses to call a quantitative easing on what it does.

In another context, Powell mentioned the Corona virus, where he asked whether the effect of the deadly virus on China and the United States is temporary or permanent, explaining that it is too early to talk about the impact of the spread of coronavirus on his country's economy, adding that the Federal Reserve will closely monitor developments Related to the virus that may affect global supply chains, including the United States of America.

It is reported that US President Donald Trump tweeted yesterday on his official account on Twitter during Powell's testimony before Congress, "The interest on federal funds is very high and the US dollar is putting pressure on exports". Otherwise, investors are now looking by the US economy for the Treasury to reveal the Federal Budget reading That could reflect the deficit shrinking to $ 10.7 billion, compared to $ 13.3 billion last December.

On the other hand, we followed yesterday, Chinese President Xi Jinping expressed his belief that his country won the battle of the Corona Virus, adding that China will achieve all of its economic and social goals that it had previously set and that it will become more prosperous after winning the battle, with his statement that there are clear positive results regarding Attempts to contain the dangerous virus that killed more than a thousand people, mostly in the Chinese city of Wuhan, which is the epicenter of the spread of coronavirus.

Technical analysis

Gold price provided negative trading yesterday, but it is due to fluctuation around the EMA50, to keep the upside scenario active and effective for the coming period, which aims to breach the 1575.90 level to rush towards 1611.20 which represents our next main station, while recalling that the continuation of the upside wave requires stability above 1554.10, where A breach of this level will pressure the price to make more bearish correction in the intraday basis.

The expected trading range for today is between 1555.00 support and 1590.00 resistance.

Expected trend for today: bullish.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session against the Japanese yen after the developments and economic data that it followed on the Japanese economy and on the cusp of developments and economic data expected on Wednesday by the US economy, which includes the activities of the second half of the semi-annual testimony of the Governor of the Federal Reserve Jerome Powell in front of the Congress in Washington.

At exactly 06:01 am GMT, the US dollar pair rose against the Japanese yen by 0.06% to 109.86 levels compared to the opening levels at 109.79, after the pair achieved its highest level during the trading session at 109.89, while the pair achieved its lowest at 109.77.

We have followed about the Japanese economy, the Bank of Japan revealed the annual reading of the M-2 bank lending index, which showed an acceleration in the pace of growth to 2.8%, in line with expectations, compared to 2.8% in the previous annual reading of last December, and this came before we witnessed the disclosure The annual preliminary reading of the machinery index for the past month, which reflected the widening of the decline to 35.6% compared to 33.5% in December.

On the last level, investors are currently looking for what will be revealed by the speech of Federal Open Market Committee member and Chairman of the Federal Reserve Bank Patrick Harker about the economic outlook in the state of Pennsylvania, before we witness the activities of the second half of the semi-annual testimony of the Governor of the Federal Reserve Jerome Powell Cash before the Senate Banking Committee.

This comes hours after the Federal Reserve Governor Powell delivered on Tuesday the first half of his semi-annual testimony about monetary policy before the Financial Services Committee in the House of Representatives, through which he expressed the fact that the current monetary policy of the Federal Reserve is appropriate and that inflation is expected to rise to the goal of the Federal Market Committee Open at two percent in the next few months with his statement that core inflation is at 1.6 percent.

Powell also noted yesterday that the Federal Reserve began facilitating monetary policy to support the economy since the second half of last year, and that the current monetary policy supports growth and contributed to improving conditions in the labor market in addition to supporting the growth of inflationary pressures towards the goal of the Federal Committee, adding that the Federal Reserve places in Considering that reducing interest on federal funds more broadly limits its ability to act at the time of an economic recession.

Powell reiterated, within his testimony before Congress, his expectations that the Federal Committee would go ahead in purchasing bonds during the second quarter of this year and that the repo rate will remain active in the markets until next April at the very least, and we would like to point out that many market analysts believe that the reserve operations The Federal Reserve is a form of quantitative easing that is left untouched, while the Federal Reserve refuses to call a quantitative easing on what it does.

In another context, Powell mentioned the Corona virus, which killed more than a thousand people, mostly in China, specifically in the city of Wuhan, which Corona started, where he asked whether the impact of the deadly virus on China and the United States is temporary or permanent, explaining that it is too early to talk about The extent of its impact on his country's economy, adding that the Federal Reserve will closely monitor developments related to the virus, which may affect global supply chains, including America.

It is reported that US President Donald Trump tweeted yesterday on his official account on Twitter during Powell's testimony before Congress, "The interest on federal funds is very high and the US dollar is putting pressure on exports". Otherwise, investors are now looking by the US economy to reveal the Federal Reserve reading of the federal budget That could reflect the deficit narrowing to $ 10.7 billion, compared to $ 13.3 billion in December.

Technical analysis

The dollar versus the yen did not show any strong movement yesterday, to continue to fluctuate around 109.75, and as long as the price is above 109.33, our bullish outlook will remain valid for the next period, supported by the approach of the stochastic oscillator from oversold areas, waiting to achieve our positive targets that start at 110.50 It extends to 111.50.

The expected trading range for today is between 109.30 support and 110.50 resistance.

Expected trend for today: bullish.

The Australian dollar versus the US dollar is crawling upwards to approach the pivotal resistance 0.6750, and as long as the price is below this level, our bearish direction expectations will remain valid for the next period, supported by the negative pressure formed by the EMA50, waiting for targeting 0.6670 then 0.6560 levels as the next main stations.

It should be noted that a break of 0.6754 will push the price to test the 0.6820 level directly before any new attempt to decline.

The expected trading range for today is between 0.6670 support and 0.6755 resistance.

Expected trend for today: bearish.

Aeroflot shares fell to the support level after achieving the bullish target with the opening of trading this week. The bearish movement stopped at the support 117.70, where the moving average 7 is.

Price action above the moving averages 7-20-50 which constitute strong price support levels.

The stochastic oscillator has exited the overbought zone on a bearish path, indicating weakness in the bullish path, and the price started the bearish correction for the bullish movement.

The general trend of the movement: upward path.

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 rose during the Asian session to witness its bounce to the third session from the lowest since March 18 of 2009 against the US dollar, following developments and economic data that were reported by the Australian economy and on the cusp of developments and economic data expected today Tuesday by the US economy, which includes the launch of the activities Federal Reserve Governor Jerome Powell's semi-annual testimony before the Congress in Washington.

At 2:50 am GMT, the Australian dollar pair rose against the US dollar by 0.24% to 0.6703 levels compared to the opening levels at 0.6687, after the pair achieved its highest level during the trading session at 0.6708, while the pair achieved its lowest at 0.6681.

On the Australian economy, we have followed the release of the Australian National Bank’s business confidence index, which showed the contraction widened to 2 vs. 1 in the previous reading last December, while the same indicator of confidence in the current conditions showed the expansion of expansion at what it valued 3 little changed from what it was in the previous reading of December.

On the other hand, investors are currently closely watching for the launch of the activities of the semi-annual testimony of Federal Reserve Governor Jerome Powell before the Congress, where Powell is expected to present today the first half of his half-year testimony about monetary policy before the Financial Services Committee in the House of Representatives, before he makes Tomorrow, Wednesday, the second half of his testimony before the Senate Banking Committee.

Markets are also looking ahead by the US economy for the release of a job readability statistic and job turnover that may reflect an increase to 6.93 million compared to 6.80 million in November, and that comes before we witness the speech of FOMC members Randall Quarlis About banking radiance in Connecticut, all the way to the talk of Minneapolis Federal Reserve Chairman Neil Kashkari at the City Hall event in Montana.

Technical analysis

The Australian dollar versus the US dollar did not show any strong movement in the previous sessions, to maintain its stability below the level of 0.6754, and therefore, our expectations for the downside trend will remain valid for the next period, supported by the negative pressure that the EMA50 forms, noting that we are waiting for the break of the 0.6670 level to confirm It opened the way towards heading towards 0.6560 as a next target.

The expected trading range for today is between 0.6650 support and 0.6750 resistance.

Expected trend for today: bearish.

The euro currency fluctuated in a narrow range slanting back down during the Asian session to witness the lowest since October 2 against the dollar, amid the scarcity of economic data by the eurozone economies and looking forward to the talk of European Central Bank Governor Krisen Lagarde about the European Central Council annual report before the European Parliament In Strasbourg and on the cusp of developments and economic data expected today Tuesday by the US economy, which includes the launch of the activities of the semi-annual testimony of the Federal Reserve Governor Jerome Powell before the Congress in Washington.

At 05:26 am GMT, the euro pair fell against the US dollar by 0.01% to 1.0910 levels compared to the opening levels at 1.0911, after the pair achieved its lowest level in four months at 1.0908, while achieving the highest during the trading session at 1.0917.

Investors are currently awaiting by the US economy, the largest economy in the world, the launch of the activities of the semi-annual Governor of the Federal Reserve Jerome Powell before the Congress, where it is expected that Powell will present today the first half of his half-year testimony about monetary policy before the Financial Services Committee in the House of Representatives And that is before tomorrow, Wednesday, he will give the second half of his testimony before the Senate Banking Committee.

Markets are also looking at the US economy for the release of a job read and turnover statistic that may reflect an increase to 6.93 million compared to 6.80 million in November, before we witness the speech of FOMC members Randall Quarles about brightness The Connecticut banker, and Federal Reserve Bank of Minneapolis chief Neil Kashkari spoke at the Montana Town Hall event.

Technical analysis

The euro against the dollar pair resumed its negative trading yesterday, to start testing the 1.0900 barrier, to gradually approach our awaited target at 1.0860, and it falls under continuous negative pressure coming from the EMA50.

Consequently, we continue to favor the bearish trend for the upcoming period, noting that exceeding the target level will push the price to 1.0780 as a next negative station, while the expected decline will remain valid provided the stability is below 1.1010.

The expected trading range for today is between 1.0830 support and 1.0980 resistance.

Expected trend for today: bearish.

Gold price futures fluctuated in a narrow range tilted to a decline during the Asian session to witness the resumption of its rebound from its top since January 8, when it tested the highest for it since March 22, 2013, disregarding the rebound of the US dollar index for the second session from its top. Since October 10, according to the inverse relationship between them on the cusp of developments and economic data expected today by the US economy, which includes the launch of the activities of the semi-annual Governor of the Federal Reserve Jerome Powell in front of Congress.

At exactly 04:12 AM GMT, gold price futures for April delivery decreased 0.24% to trade at $ 1,571.80 per ounce compared to the opening at $ 1,575.50 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded yesterday's trading At $ 1,579.50 an ounce, while the US dollar index fell 0.01% to 98.85 compared to the opening at 98.86.

Investors are currently awaiting by the US economy, the largest economy in the world, the launch of the activities of the semi-annual Governor of the Federal Reserve Jerome Powell before the Congress, where it is expected that Powell will present today the first half of his half-year testimony about monetary policy before the Financial Services Committee in the House of Representatives And that is before tomorrow, Wednesday, he will give the second half of his testimony before the Senate Banking Committee.

Markets are also looking ahead by the US economy for the release of a job readability statistic and job turnover that may reflect an increase to 6.93 million compared to 6.80 million in November, before we witness the speech of FOMC members Randall Quarles about Banking Connectivity in Connecticut, and Federal Reserve Bank of Minneapolis President Neil Kashkari speaks at the Montana Town Hall event.

Otherwise, investors are also closely watching what will come out of the ECB Governor Christine Lagarde’s talk about the European Central Bank’s annual report to the European Parliament in Strasbourg, before we also witness later in the day Bank of England Governor Mark Carney testimony before the Economic Affairs Committee of the Council The lords in London are hurting hours after the disclosure of growth data for the first quarter of the British economy.

On the other hand, doubts remain about how quickly Chinese factories return to work following the lunar New Year holiday in China, which has been extended as part of efforts to contain and combat the spread of the Coronavirus, which has killed at least 1,011 people, most of them in Wuhan, China. It is the epicenter of the coronavirus that has spread to at least 27 countries so far.

Technical analysis

Gold price bounced slightly lower after touching the level of 1575.90, which indicates the importance of this level to the fate of the next destination, noting that we need to breach this level to confirm the extension of the upside wave towards 1611.20.

The stochastic is clearing its negative momentum and reaching the oversold areas in the sell, while the EMA50 continues to provide positive support for the price, to keep our expectations for the bullish direction in the intraday and short term unless the 1554.10 level and stability below it are broken.

The expected trading range for today is between 1560.00 support and 1590.00 resistance.

Expected trend for today: bullish.