Analytic reviews

Google shares fell sharply with the opening of trading sessions this week as a result of the trend of investors to safe havens because of the trade war that the United States is engaged on several sides

The stock opened the session with a bearish price gap as the price is trading below the moving averages.

Stochastic is in a downtrend within the oversold areas so we can see further downside.

General direction of the movement: a downward trend.

The US dollar fluctuated in a narrow range slipping towards the Asian session, where the lowest level since Jan. 10 against the Japanese Yen following the economic developments and data that followed on the Japanese economy and on the eve of developments and economic data expected Tuesday by the US economy, Governor of the Federal Reserve Jerome Powell.

At 6:19 am GMT, the greenback was down 0.18% to 107.88 from the opening levels at 108.07 after a five-month low of 107.86, while the highest at 108.09.

We followed the Japanese economy to reveal the annual reading of the Bank of Japan's monetary base index, which showed accelerated growth to 3.6% from 3.1% last April, surpassing forecasts that accelerated growth to 3.2%. Japan has been using this indicator as its main operational target for the monetary base scheme since April 2013.

On the other hand, investors are looking forward to introducing Fed Chairman and Federal Reserve Chairman John Williams to the opening remarks at the event hosted by the Bank of New York Federal Reserve before we see the upcoming talk of Federal Reserve Governor Jerome Powell about the Fed's policy strategy, tools and communication practices At the event hosted by the Chicago Fed.

Leading to the release of the factory demand index, which may reflect a 1.0% drop from 1.9% in March. This comes hours before the Beige report, which is important as it was issued two weeks before the FOMC meeting, The Federal Committee in their decisions and directions to stimulate and support the pace of growth and the US labor market in addition to achieving inflation target at 2%.

Technical Analysis

USDJPY succeeded in achieving our awaited target at 108.00 and is stabilizing, noting that the price is pressuring this level in an attempt to break it, supporting expectations for a short-term downtrend, paving the way for a target of 106.75 as the next major station.

Therefore, the bearish bias will remain in place for the coming period provided that the price remains stable below 108.80.

The trading range for today is among the key support at 107.20 and resistance at 108.50.

The general trend for today is bearish.

The Australian dollar fell during the Asian session to witness a rebound to the second session of its highest since May 13 against the US dollar following developments and economic data that followed on the Australian economy and on the threshold of the decisions and directions of the Reserve Bank of Australia and developments and economic data expected Tuesday by the US economy and Including US Federal Reserve Governor Jerome Powell.

At 0210 GMT, the AUDUSD fell 0.16% to 0.6966, compared to the opening levels of 0.6977, after reaching a low of 0.6960, while the highest at 0.6978.

We followed the Australian economy to reveal the current account reading, which showed the deficit widened to A $ 2.9 billion in line with expectations for A $ 6.3 billion in the fourth quarter. In the same context, the reading of the net exports index of GDP 0.2% also compatible with expectations versus 0.2% decline in the fourth quarter.

This came in line with the release of retail sales, which showed a decline of 0.1% compared to 0.3% in March, in contrast to expectations of slowing growth to 0.2%. This comes amid the expectation of the release of the Reserve Bank of Australia interest rate statement in the expectation of a 25% To 1.25% from 1.50%, ahead of the upcoming speech by Governor of Central Australia Philippe Lowe at a Sydney Reserve Dinner.

On the other hand, investors are looking forward to Federal Reserve Chairman and Federal Reserve Chairman John Williams opening remarks at the event hosted by the Bank of New York Federal Reserve, before we see the forthcoming talk of Federal Reserve Governor Jerome Powell about the Fed's policy strategy, tools and communication practices At the event hosted by the Chicago Fed.

Leading to the release of the factory demand index, which may reflect a 1.0% drop from 1.9% in March. This comes hours before the Beige report, which is important as it was issued two weeks before the FOMC meeting, The Federal Committee in their decisions and directions to stimulate and support the pace of growth and the US labor market in addition to achieving inflation target at 2%.

Looking ahead to the US labor market, preliminary data on the labor market are expected to be released on Wednesday with the release of the Change in Private Sector Index, which may reflect a slowdown in job creation to 185,000 jobs, compared to 275,000 in April. Hours before the disclosure of the monthly report of non-agricultural jobs and unemployment rates in addition to the average income per hour for the last month.

Technical Analysis

AUDUSD has breached 0.6945 after yesterday's close, pushing the pair to continue its bullishness over intraday basis, and we expect a test of 0.7044 before resuming the downside move again.

Therefore, the bullish trend will be likely in the coming sessions unless the levels of 0.6945 and 0.6910 are broken and stability below it.

The trading range for today is expected among the support at 0.6945 and the resistance at 0.7044.

The expected general trend for today: temporarily bullish.

EURUSD

The pair is supported amid increasing likelihood of the Fed reducing interest rates this year. The anticipation of lower interest rates will restore the USD to the role of a funding currency, which will weaken it further.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought territory. Stoch are also there.

Trading recommendations:

If the pair goes above 1.1260 and stays there, technically it will have the potential for local growth to 1.1325.

The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session to retrace its third session since May 23, when its lowest since May 19, 2017 was tested against the US dollar on the brink of developments And economic data expected Monday by the economies of the euro zone and the US economy the largest economy in the world.

At 0517 GMT, the EURUSD rose 0.07% to the level of 1.1177 compared to the opening at 1.1167, after reaching the highest level at 1.1190 and the lowest at 1.1155.

The markets are looking for Spain, the fourth-largest economy in the eurozone, to see the Manufacturing PMI reading, which may reflect a contraction of the widening to 51.4 versus 51.8 last April,

Before we see the same indicator reading for Italy, the third largest economy in the region, which may reflect contraction of the contraction to a value of 49.1 versus 48.5 in April

This comes ahead of the release of the Industrial PMI reading for France, the second largest economy in the Eurozone and Germany, the region's biggest economy, as well as the Eurozone economies as a whole, which could reflect a widening stability at 50.6 in France from 50.0 in April, 44.3 in Germany versus 44.4 in April, and the contraction of 47.7 in the region as a whole against 47.9.

On the other hand, investors are awaiting the final reading of Markit Industrial PMI by the United States, which may reflect a widening to 50.8 compared to 50.6 in the preliminary reading last month, compared to 52.6 in April.

Before the world's largest industrial nation could see the Industrial Supply Institute index reading, which may show growth accelerating to 53.0 versus 52.8 in April, as the ISI Manufacturing Index may show growth accelerating to 51.5 versus 50.0, And coincided with a reading of the Construction Spending Index, which could reflect a rise of 0.9% from 0.9% in March.

Technical Analysis

 The EUR / USD pair continues to fluctuate near the 1.1180 level and remains below it so far. Therefore, there is no change in the bearish scenario which depends on the stability below this level and above 1.1260, awaiting a negative incentive that supports the chances of achieving our expected targets at 1.1100. 1.1000.

The trading range for today is expected between 1.1100 and 1.1240 support.

The general trend for today is bearish.

Gold futures rose during the Asian session, the highest since March 27 amid negative stability of the dollar index, the lowest since May 27, according to the inverse relationship between them on the eve of developments and economic data expected on Monday by the US economy The world's largest economy.

Gold futures for August delivery rose 0.45% to currently trade at $ 1,316.70 an ounce, marking the highest in more than two months compared with the opening at $ 1,312.50 per ounce, amid the decline of the US dollar index of 0.02% To 97.62 levels, showing a weekly low of 97.64.

On the other hand, investors are awaiting the final reading of Markit Industrial PMI by the United States, which may reflect a widening to 50.8 compared to 50.6 in the preliminary reading last month, compared to 52.6 in April.

Before the world's largest industrial nation could see the Industrial Supply Institute index reading, which may show growth accelerating to 53.0 versus 52.8 in April, as the ISI Manufacturing Index may show growth accelerating to 51.5 versus 50.0, And coincided with a reading of the Construction Spending Index, which could reflect a rise of 0.9% versus 0.9% in March.

To Federal Reserve Chairman and Federal Reserve Chairman James Bullard in Chicago, hours before Federal Reserve Chairman and Federal Reserve Chairman Jerome Powell was due to speak on Tuesday about the Fed's policy strategy and tools as well as communication practices at the event hosted by Bank Chicago Fed.

Technical Analysis

 The price of gold confirmed the breach of the level of 1302.60 after the end of trading last week above it, reinforcing expectations for the extension of gold gains to reach levels of 1320.00 and then 1346.70 as the next major stations.

Therefore, we await further upside in the coming sessions supported by SMA 50, taking into consideration that stability above 1302.60 is important to achieve the expected targets.

The trading range for today is among the support at 1295.00 and resistance at 1320.00.

The general trend for today is bullish.

The US dollar fluctuated in a narrow range slipping towards the Asian session, its lowest level since January 14 against the Japanese yen following the economic developments and data that followed the Japanese economy, the third largest economy in the world and on the eve of developments and economic data expected on Monday by The US economy is the largest economy in the world.

At 06:02 GMT, the pair dropped 0.06% to 108.23 compared to the opening levels at 109.37 after the pair reached a low of 108.07 and a high of 108.40. That the pair opened this week's trading at a bullish price gap after closing the trading week and last month at levels of 108.29.

We have followed the Japanese economy to reveal the reading of the capital expenditure index, which showed growth accelerated to 6.1% compared to 5.7% in the previous reading for the fourth quarter, contrary to expectations that indicated a slowdown of growth to 2.6%, as indicated by the same indicator excluding the software accelerated growth to 6.9% versus 5.5% in the fourth quarter, also in contrast to expectations of a 2.3% slowdown in growth.

This came in conjunction with the release of the final reading of the industrial PMI Nikai by the third largest industrial world, which showed contraction contraction to 49.8 compared to the previous preliminary reading for the month of April at 49.6, exceeding expectations at 49.7, To $ 50.2 last March.

On the other hand, investors are awaiting the final reading of Markit Industrial PMI by the United States, which may reflect a widening to 50.8 compared to 50.6 in the preliminary reading last month, compared to 52.6 in April.

Before the world's largest industrial nation could see the Industrial Supply Institute index reading, which may show growth accelerating to 53.0 versus 52.8 in April, as the ISI Manufacturing Index may show growth accelerating to 51.5 versus 50.0, And coincided with a reading of the Construction Spending Index, which could reflect a rise of 0.9% versus 0.9% in March.

Technical Analysis

 The USD / JPY pair continues to decline strongly to reach our 108.00 target, and we expect the downside pressure to continue to breach this level and open the way to the recent low of 106.75 in the near term.

Therefore, we will continue to bias the bearishness during the coming sessions, taking into account that the breach of 108.80 is considered the first positive key to start attempts to recover in the intraday.

The trading range for today is expected among the key support at 107.50 and the resistance at 108.80.

The general trend for today is bearish.

Sbearbank continues to move within the ascending channel as the stock is moving under the SMA 50 as it moves below the price and forms support levels for the price.

Stochastic is in a downtrend so we can see an attempt from the price to break support at the 50 average.

The expected movement between 211.40 support and resistance 247.20.

General trend of the movement: upward.

The Australian dollar rose during the Asian session to see its fifth session rebound in eight sessions from its lowest since May 17, when it tested its lowest since January 3 against the US dollar following developments and economic data that followed on the Australian economy and on the threshold Developments and economic data expected Monday by the US economy, the largest economy in the world.

At 02:33 GMT, the Australian dollar was up 0.23% at 0.6952, compared to the opening levels at 0.6927, the pair's lowest level during the session, while the pair reached a high of 0.6954, This week on a bearish price gap after closing the week and last month at 0.6938 levels.

We followed the Australian economy to release the AIG Industrial Manufacturing Index (AIG), which showed a contraction of 52.7 versus 54.8 last April, before we saw the release of the Corporate Operating Profit 1.7% compared to 2.8% in the fourth quarter, contrary to expectations that accelerated growth to 2.9%.

This came in conjunction with the release of preliminary data for the Australian labor market with the publication of the job index reading which showed a decline of 0.2% compared to a rise of 0.2% in April, and the index of inflation index by the Institute of Melbourne (MI), which showed stability at zero levels compared to Growth of 0.2% in April, and investors are currently awaiting the release of the May Commodity Price Index.

Elsewhere, markets are looking to unveil many important economic data for the Australian economy on Tuesday, including the decisions and directions of monetary policy makers at the Reserve Bank of Australia, with the release of the Australian Central Bank's interest rate statement amid expectations of a 25 basis point reduction to 1.25% from 1.50% , After having been fixed for the 31st meeting in a row at the previous meeting other than expectations.

On the other hand, investors are awaiting the final reading of Markit Industrial PMI by the United States, which may reflect a widening to 50.8 compared to 50.6 in the preliminary reading last month, compared to 52.6 in April.

Before the world's largest industrial nation could see the Industrial Supply Institute index reading, which may show growth accelerating to 53.0 versus 52.8 in April, as the ISI Manufacturing Index may show growth accelerating to 51.5 versus 50.0, And coincided with a reading of the Construction Spending Index, which could reflect a rise of 0.9% from 0.9% in March.

Technical Analysis

 The narrow range continues to dominate AUDUSD, which is still below 0.6945, so there is no change in the bearish scenario which is supported by SMA 50, while our next target is 0.6800.

The trading range for today is expected among the support at 0.6840 and resistance at 0.6945.

The general trend for today is bearish.

EURUSD

The pair is still trading flat in anticipation of this week’s ECB monetary policy meeting. The market is also waiting for important economic indicators in the US.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI has reversed downwards, Stoch have also turned down.

Trading recommendations:

If the pair passes 1.1160, it will continue down to 1.1120. At the same time, passing 1.1180 may trigger a local growth to 1.1215.