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When buying an option against the trend, confirmation of other technical analysis tools is mandatory - the presence of divergence, candlestick reversal patterns. Buying against the trend strictly at 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 tools of technical and fundamental analysis.

The pair is trading above the level of 1.0940. It still has the potential to decline amid the positive news for the dollar: strong data on the American economy, the labor market and the end of the prolonged impeachment of Donald Trump.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is in the oversold zone. Stoch coming out of this area.

Trading recommendations:

Sell the pair with a likely target of 1.0900 after its decline below 1.0940.

The overall trend is upward. The support level of 747.00 holds back sellers. A descending truncated pattern was formed. A bullish divergence has formed on Awesome Oscillator indicator, and Stochastic Oscillator indicator signals oversoldness.

Trading recommendations:

Buy while an ascending structure is forming, where the wave (aC) breaks through the inclined channel of the descending truncated pattern.

Stop loss under the support level 747.00.

Target levels: 798.50; 833.50.

The overall trend is downward. The pair is trading in the range of the round important level of 0.8500. A bearish divergence has formed on Awesome Oscillator indicator, and Stochastic Oscillator signals overboughtness.

Trading recommendations:

Sell while a descending pattern is forming, where the wave (aC) breaks through the inclined channel of the ascending truncated pattern of the H1 level.

Stop loss for the round secondary level 0.8520.

Target levels: 0.8435; 0.8400.

The US dollar fluctuated in a narrow range, which is slipping toward decline during the Asian session, to witness its rebound from above since January 22 against the Japanese yen, following the developments and economic data that were reported by the Japanese economy, the third largest economy in the world, and on the cusp of developments and economic data expected on Friday from Before the American economy the largest economy in the world.

At exactly 05:51 AM GMT, the US dollar pair fell against the Japanese yen by 0.08% to 109.90 levels compared to the opening levels at 109.99, after the pair achieved its lowest level during the trading session at 109.81, while the pair achieved its highest in two weeks at 110.02 .

On the Japanese economy, we followed the disclosure of December data with the release of the annual household spending index, which showed that the decline widened to 4.8% compared to 2.0% in November, contrary to expectations that the decline fell to 1.7%, in conjunction with the reading showed The annual average income steady at zero levels versus a 0.1% rise, outperforming the forecasts that indicated a 0.1% decline, before the reading of the leading indicators that showed an increase to 91.6 versus 90.8, outperforming the forecasts at 91.4.

On the other hand, we have just followed the talk of a member of the Federal Open Market Committee and Deputy Governor of the Federal Reserve Randall Quarlis about monetary policy and economic expectations at New York University, and this came amid the markets' aspiration to reveal the data of the American labor market last month, which may reflect the stability of unemployment rates at The lowest in five decades at 3.5% for the third month in a row.

In the same context, investors are also looking to the US economy for the release of the employment change index for sectors other than agriculture, which may reflect the acceleration of the pace of job creation to 163,000 jobs compared to 145,000 jobs last December, as the average income index reading in The hour, growth accelerated to 0.3% versus 0.1%. This is before the final reading of the wholesale stocks index, which may explain the stability of the decline at 0.1%.

Technical analysis

The dollar versus the yen trades near the 110.00 barrier, and the price continues to move within the bullish channel that appears in the picture, while the moving average 50 provides positive support for the price, and therefore, the bullish trend will remain likely during the upcoming sessions, with a reminder that our targets start at 110.50 and extend to 111.50 after Break through the previous level.

We remind you that the continuation of the expected bullish wave requires stability above 109.33.

The expected trading range for today is between 109.30 support and 110.70 resistance.

Expected trend for today: bullish.

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 its highest since March 22, 2013, disregarding the rebound of the US dollar index for the second session of its highest Since October 15, according to the inverse relationship between them, on the cusp of developments and economic data expected Friday by the Chinese economy, the largest consumer of metals globally, and its US counterpart, the largest economy in the world.

At exactly 04:12 AM GMT, gold price futures for April delivery decreased 0.03% to trade at $ 1,570.30 per ounce compared to the opening at $ 1,570.70 per ounce, knowing that the contracts started the trading session on an upward price gap after it concluded yesterday's trading At $ 1,570.00 an ounce, while the US dollar index fell 0.02% to 98.46 compared to the opening at 98.46.

Investors are currently awaiting by the Chinese economy to reveal the reading of the trade balance index, which reflects a shrinking surplus to a value of 306 billion yuan, equivalent to $ 36.8 billion compared to 329 billion yuan, equivalent to $ 46.8 billion in December, and this follows In the middle of last month, China and the United States signed the first stage of the trade agreement, and in the shadow of the outbreak of the Coronavirus, which started in Wuhan, China.

On the other hand, we have just followed the talk of a member of the Federal Open Market Committee and Deputy Governor of the Federal Reserve Randall Quarlis about monetary policy and economic expectations at New York University, and this came amid the markets' aspiration to reveal the data of the American labor market last month, which may reflect the stability of unemployment rates at The lowest in five decades at 3.5% for the third month in a row.

In the same context, investors are also looking to the US economy for the release of the employment change index for sectors other than agriculture, which may reflect the acceleration of the pace of job creation to 163,000 jobs compared to 145,000 jobs last December, as the average income index reading in The hour, growth accelerated to 0.3% versus 0.1%. This is before the final reading of the wholesale stocks index, which may explain the stability of the decline at 0.1%.

Technical analysis

The gold price fluctuates around the EMA50, and may witness some temporary bearish slopes with the effect of the stochastic negative, waiting for a positive momentum sufficient to push the price to continue the main bullish trend.

In general, we continue to favor the bullish trend with price stability above 1554.10 level, as breaking this level will press the price to make more bearish correction in the intraday basis, while our positive targets start at 1575.90 and extend to 1611.20 after crossing the previous level.

The expected trading range for today is between 1554.00 support and 1580.00 resistance.

Expected trend for today: bullish.

The euro fluctuated in a narrow range slanting back down during the Asian session to witness its stability near its lowest level since mid-October last against the dollar on the threshold of economic developments and data expected on Friday by the economies of the euro area and the US economy the largest economy in the world and in conjunction with the visit of the European Commissioner Phil Hogan to Washington for talks with US Trade Representative Robert Lighthizer as part of efforts to boost transatlantic trade and the signing of a trade agreement between the United States and the European Union.

At 05:12 am GMT, the euro against the US dollar fell 0.01% to 1.0982 levels compared to the opening levels at 1.0983, after the pair achieved its lowest level during the trading session at 1.0978, while achieving the highest at 1.0985.

Markets are currently looking to Germany, the largest economy in the euro area, to disclose the current account reading, which may reflect a shrinking surplus to 23.5 billion euros against 24.9 billion euros last November, in conjunction with the release of the trade balance reading, which may also show a shrinking surplus To 16.4 billion euros, compared to 18.3 billion euros in November, amid expectations for an increase in exports and imports during December.

This comes in conjunction with the issuance of the seasonally adjusted reading of the industrial production index also for Germany, which may reflect a 0.2% decline against a rise of 1.1% in November, while the annual reading of the same indicator may show a widening decline to 3.7% compared to 2.6%, before we witness from Before France, the region’s second economy, the industrial production index showed a decline of 0.3%, compared to a rise of 0.3% in November.

Investors are also anticipating by France the preliminary reading of the wage index in the private sector, which may reflect the stability of growth at 0.2% during the fourth quarter, in conjunction with the release of the trade balance reading also for France, which may explain the deficit shrinking to a value of 5.1 billion euros against 5.6 billion euros In November, before we witnessed by Italy, the region's third largest economy, the retail sales readout, which may show a 0.2% increase compared to a 0.2% decline.

On the other hand, we have just followed the talk of a member of the Federal Open Market Committee and Deputy Governor of the Federal Reserve Randall Quarlis about monetary policy and economic expectations at New York University, and this came amid the markets' aspiration to reveal the data of the American labor market last month, which may reflect the stability of unemployment rates at The lowest in five decades at 3.5% for the third month in a row.

In the same context, investors are also looking to the US economy for the release of the employment change index for sectors other than agriculture, which may reflect the acceleration of the pace of job creation to 163,000 jobs compared to 145,000 jobs last December, as the average income index reading in The hour, growth accelerated to 0.3% versus 0.1%. This is before the final reading of the wholesale stocks index, which may explain the stability of the decline at 0.1%.

Technical analysis

The EURUSD pair succeeded in touching our first awaited target at 1.0985 and surpassing it to settle below it now, which supports expectations for the continuation of the downside trend during the coming period, paving the way for heading towards our next target, which is located at 1.0880.

The negative impact of the head and shoulders pattern is still effective and supports the expectations of achieving further decline, noting that a break of 1.1030 could push the price to test 1.1100 areas before any new attempt to decline.

The expected trading range for today is between 1.0880 support and 1.1030 resistance.

Expected trend for today: bearish.

The Australian dollar fell during the Asian session to witness its bounce for the third session from the top since January 29, while it is still in the process of its first weekly gains in six weeks against the US dollar after the developments and economic data that it had reported on the Australian economy, which included the certificate of the Governor of the Reserve Bank of Australia Philip Liu before the Australian Parliament and the disclosure of the minutes of the Bank of Australia meeting held last Tuesday and on the cusp of developments and economic data expected today Friday by the US economy, the largest economy in the world.

At 2:16 am GMT, the Australian dollar pair declined against the US dollar by 0.22% to 0.6715 levels compared to the opening levels at 0.6730, after the pair achieved its lowest level during the trading session at 0.6713, while the pair achieved its highest at 0.6736.

We have followed the Governor of the Australian Central Bank, Liu, in his semi-annual testimony before the Standing Committee of Economics in the House of Representatives in Canberra, expressed his expectations for the high rate of economic growth for his country from average to two percent in the past two years to two percent during this year and to three percent during 2021, Supported by the facilitation policy and the new phase of expansion in the resource sector, in addition to strong consumption and the recovery of residential investment.

Lowe also said that these expectations are also supported by a modest increase in global growth, adding that the world economy last year suffered from the uncertainty and interruption of international trade caused by trade and technology disputes between the United States and China, Australia's largest trading partner, and he explained that recently there are signs of stability And, his expectations are in line with the International Monetary Fund's expectation that current and next year growth is stronger than last year.

Lowe noted, however, that there are still some areas that reflect uncertainty, including the possibility of a resurgence of trade and protectionist trade disputes between Washington and Beijing, explaining that the "first stage" deal eased some of the previous uncertainties, while not eliminating the uncertainty about the outbreak of war Trade among them, and there are a number of other trade disputes that may escalate elsewhere around the world, adding that the spread of the Corona virus is a new source of uncertainty.

In conclusion, Lowe touched on the fact that forest fires and droughts had a devastating economic impact on the affected areas in addition to the tragic loss of lives. Reconstruction efforts largely offset this impact for the rest of this year, adding that the economy could lose 0.25% this year as a result of the disaster.

Lowe's testimony came in which he stressed that although there is a justification for expanding monetary policy easing, there are risks of lower interest rates, before we see the Reserve Bank of Australia unveil the monetary policy statement for the meeting held on the fourth of February The current process by which it was decided to keep interest rates at the lowest ever, at 0.75% for the third meeting in a row.

On the other hand, we have just followed the talk of a member of the Federal Open Market Committee and Deputy Governor of the Federal Reserve Randall Quarlis about monetary policy and economic expectations at New York University, and this came amid the markets' aspiration to reveal the data of the American labor market last month, which may reflect the stability of unemployment rates at The lowest in five decades at 3.5% for the third month in a row.

In the same context, investors are also looking to the US economy for the release of the employment change index for sectors other than agriculture, which may reflect the acceleration of the pace of job creation to 163,000 jobs compared to 145,000 jobs last December, as the average income index reading in The hour, growth accelerated to 0.3% versus 0.1%. This is before the final reading of the wholesale stocks index, which may explain the stability of the decline at 0.1%.

Technical analysis

The Australian dollar pair against the US dollar resumed its negative trades, gradually moving away from the 0.6754 level, which supports the continuation of our bearish expectations, which aims to test the 0.6670 level initially, noting that breaking this level will push the price to 0.6560 as the next main station.

Thus, the negative scenario will remain valid and active, provided stability is below 0.6754 and most importantly below 0.6825.

The expected trading range for today is between 0.6670 support and 0.6750 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 pair is trading below 1.0990. The expectation of strong US employment data will lead to a further drop of the pair.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI entered the oversold zone. Stoch turn down.

Trading recommendations:

Sell the pair with a likely target of 1.0925.