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The Australian dollar fluctuated in a narrowly bullish range during the Asian session against the US dollar amid a lack of economic data by the Australian economy earlier this week and on the eve of developments and economic data expected Tuesday by the US economy, the largest economy in the world and following the absence of the US market yesterday because of Memorial day holiday in the United States.

At 0235 GMT, the AUDUSD rose 0.03% to 0.6920 compared to the opening levels of 0.6918, after reaching a high of 0.6926, while reaching a low of 0.6916.

Investors are eyeing the US economy to release housing data with the Home Price Index reading, which may reflect slowing growth to 0.2% vs. 0.3%, and the S & P House Price Index, which may show growth accelerating to 3.1% versus 3.0% Last February, leading to the Consumer Confidence reading, which may reflect a widening to 130.1 vs. 129.2 in April.

Technical Analysis

The AUDUSD is showing more narrow range trades, accompanied by the stochastic loss of positive momentum, while SMA 50 continues to press the pair negatively.

Therefore, the bearish trend will remain in the coming sessions unless the level of 0.6945 is breached and stability above it, noting that our next main target extends to 0.6800.

The trading range for today is expected among the support at 0.6840 and resistance at 0.6960.

The general trend for today is bearish.

EURUSD

The pair is trading within the range of 1.1120–1.1260 in anticipation of the ECB taking measures to boost the eurozone economy. Moreover, investors are waiting for this week’s US GDP data, China’s PMI and important American indicators.

The price is below the middle Bollinger bands, below SMA 5 and SMA 14. Moving Averages suggest selling the pair. RSI is moving down and crossing the level of 50%. Stoch aren’t informative.

Trading recommendations:

If the pair takes hold below 1.1180, it may resume falling to 1.1120.

The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session to see its third session retreat from its lowest level since May 19, 2017 against the US dollar amid a lack of economic data from the Eurozone economies earlier this week. The US market was absent on Monday due to the US Memorial Day holiday.

At 05:27 GMT, the EURUSD rose 0.07% to 1.1211, compared to the opening at 1.1199, after recording a high of 1.1215 and a low of 1.1190. Ended last week at 1.1203 before opening the week with a bearish price gap.

We have followed Sunday the expiration of the European Parliament elections on 751 seats, which is expected to see the first meeting after the disclosure of the results of the elections formally later on July 2 next, amid preliminary results showed that the parties that were demanding restrictions on immigrants to the EU and limit the EU's influence on European countries has made little progress.

Technical Analysis

The major currencies and commodities are showing weak and tight trading, affected by the holiday of the financial markets of most banks, which keeps the suggested scenarios in our recent reports unchanged. We recommend reviewing our previous reports to identify pivotal levels and expected targets for the coming period.

The Australian dollar fluctuated in a tight range slipping towards the Asian session to stabilize near its lowest level in almost six months against the US dollar amid a lack of news from the Australian economy and on the cusp of the US market absent for Memorial Day holiday there.

At 0235 GMT, the Australian dollar fell 0.07% to 0.6923 compared with the opening levels at 0.6929 after recording a low of 0.6923 and a high of 0.6937.

Before opening the week's trading on a low price gap.

Technical Analysis

The major currencies and commodities are showing weak and tight trading, affected by the holiday of the financial markets of most banks, which keeps the suggested scenarios in our recent reports unchanged. We recommend reviewing our previous reports to identify pivotal levels and expected targets for the coming period.

The US dollar fluctuated in a narrow range inclined during the Asian session to see its rebound to its second low since May 15 against the Japanese Yen after Japanese Bank Governor Haruhiko Kuroda, in conjunction with US President Donald Trump's visit to Tokyo and on the eve of the US market's absence. Memorial Day holiday there.

At 0634 GMT, the USDJPY rose 0.20% to 109.53 from the opening level at 109.32, after recording a high of 109.56 and a high of 109.28.

BOJ Governor Kuroda said the outlook for the global economy reflected a high degree of uncertainty, to alarm the global economy, days before his country hosted a meeting of G20 finance ministers and central bank governors on June 8 and 9 with Addressing the risks of trade protectionism, China's economic slowdown and the fog of Britain's exit negotiations from the EU.

Kuroda's remarks came ahead of a press conference by Japanese Prime Minister Shinzo Abe and US President Trump, who had previously said Tokyo had "a great advantage" over Washington for many years. He said both sides were "getting closer" to a deal that would address Japan's trade deficit with Japan, which hit $ 56.8 billion last year, according to the US Trade Representative.

Technical Analysis

The USD / JPY pair broke the 109.44 level and closed with a daily closing below it, which supports the continuation of our expectations for the bearishness over intraday and short term, paving the way towards the 108.80 target which is our next main target, noting that the continuation of the expected decline requires stability below 110.08.

The trading range for today is expected among the key support at 108.80 and the resistance at 109.80.

The general trend for today is bearish.

Gold futures traded in a narrowly bullish range during the Asian session to see their rebound to a third session in five sessions from its lowest since May 2 as the US dollar index fell for the third consecutive session from its highest since May 16 from In 2017 according to the inverse relationship between them, with the absence of the US market on Monday because of the Memorial Day holiday in the United States.

Gold futures for August delivery rose 0.17% to currently trade at $ 1,291.90 per ounce compared to the opening at $ 1,289.20 an ounce, amid the decline of the US dollar index 0.01% to 97.56 compared to the opening at 97.57.

Investors are eyeing the development of trade disputes between the United States and China, the world's two largest economies, as US President Donald Trump visits Japan's third-largest economy following recent statements that Tokyo had "a great advantage" over Washington for many years. "And touched on the fact that the two sides" get closer "to a deal to deal with the trade deficit of his country.

The US trade representative recently noted that the US trade deficit reached $ 56.8 billion last year with Japan. The 45th US president's visit to Japan comes amid a threat by the US administration to introduce tariffs against Japanese and European automakers. Is now closely following the preliminary results of the European Parliament elections and their follow-up to the European Union.

On the other hand, we followed the Russian Ministry of Finance announced last week that the production of Russia (the third largest gold producer globally) of gold in the first three months of this year rose to 58.12 metric tons compared to 51.61 in the same period last year 2018, The ministry said that production during the first quarter last included 45.95 metric tons of gold extracted from mines compared to about 39.78 in the first quarter of the previous year.

Technical Analysis

The major currencies and commodities are showing weak and tight trading, affected by the holiday of the financial markets of most banks, which keeps the suggested scenarios in our recent reports unchanged. We recommend reviewing our previous reports to identify pivotal levels and expected targets for the coming period.

EURUSD

The pair remains within the range of 1.1120–1.1260 against the backdrop of the uncertainty surrounding the US-China trade dispute. It’s likely to remain within this range for some time.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the oversold territory and is moving horizontally. Stoch are returning to the overbought zone.

Trading recommendations:

If the pair takes hold above 1.1200, it will still have a chance for a local growth to 1.1260.

The US dollar fluctuated in a narrow range slipping towards the Asian session to see its fourth session rebound since May 7, and is poised for its fifth weekly loss in six weeks against the Japanese yen following developments and economic data on the Japanese economy. Economic outlook on Friday by the US economy, the world's largest economy.

At 05:58 am GMT, the pair dropped 0.01% to 109.60, compared with the opening levels of 109.61, after reaching a low of 109.48, while recording a high of 109.75.

On the Japanese economy, we saw the National Consumer Price Index (NFP) annual reading, which showed growth accelerated to 0.9% in line with expectations versus 0.5% last March. The annual index of the same index excluding fresh food, excluding energy and fresh food, 0.9% in line with expectations versus 0.8%, and growth accelerated to 0.6% in line with expectations versus 0.4%.

This was before the world's third-largest economy and the third largest industrialized nation reported a reading of the Industrial Activity Index, which showed a drop to 0.4% from 0.2% in February, in contrast to expectations of a 0.1% decline.

On the other hand, investors are currently waiting for the US economy to reveal the Durable Goods Orders, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect a decline of 2.0% versus 2.6% in March , While the core reading of the index itself may show slower growth to 0.1% versus 0.3% in March.

Technical Analysis

The USD / JPY traded with a strong negative yesterday to break the 110.08 level and achieve the first negative target at 109.44, which reinvigorates the downside correctional correction scenario, noting that breaking the current level will push the price around 108.80 directly.

Therefore, the bearish bias will be likely in the coming sessions unless the 110.08 level is breached and stability above it.

The trading range for today is expected among the support at 108.80 and the resistance at 110.08.

The general trend for today is bearish.

Gold futures traded in a narrowly bullish range during the Asian session to see their rebound to a second session in four sessions from its lowest since May 2, defying the rise of the US dollar index for the eighth session in ten sessions from the lowest since 18 of forgetfulness / According to the inverse relationship between them on the eve of developments and economic data expected Friday by the US economy.

At 03:44 am GMT, gold futures for June delivery rose 0.05% to currently trade at $ 1,283.70 per ounce from the opening at $ 1,283.20 an ounce, while the US dollar index rose 0.03% to 97.87 compared to the opening at 97.83. .

Investors are currently waiting for the US economy to release the Durable Goods Orders, which account for almost half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect a 2.0% decline versus 2.6% in March. The core reading of the same index shows a slowdown in growth to 0.1% versus 0.3% in March.

This came hours after the minutes of the Federal Open Market Committee meeting held at the end of April and early May, which touched on the Fed's monetary policy makers agreeing to keep interest rates between 2.25% and 2.50% In reducing the reduction of bond buybacks before freezing by September, as well as continuing the policy of patience until further notice.

On the other hand, we have followed yesterday, US Secretary of State Mike Pompeo said that the Chinese telecommunications giant Huawei Technologies is lying about its relations with the government of its own country. In contrast, a spokesman for the Ministry of Commerce that Washington should correct its erroneous behavior if it wishes to continue trade negotiations with Beijing To put an end to the trade war between the world's two largest economies, saying the importance of the talks should be based on mutual respect.

On the other hand, we have continued with the beginning of this week announced the Russian Ministry of Finance that the production of Russia (the third largest gold producer globally) of gold in the first three months of this year rose to 58.12 metric tons compared to 51.61 in the same period last year 2018, amid According to the ministry, production during the first quarter of the year included 45.95 metric tons of gold extracted from mines compared to 39.78 in the first quarter of the previous year.

Technical Analysis

The price of gold showed positive trading yesterday, breaking the resistance of the bearish correction and stabilizing above it, pushing the price for potential gains during the coming sessions, on its way to test the level of 1302.60 initially.

Therefore, the bullish trend is expected for today, provided stability above 1275.30, noting that the breach of the target level will extend the bullish wave to reach levels of 1320.00 and then 1346.70.

The trading range for today is among the key support at 1275.00 and resistance at 1302.60.

The general trend for today is bullish.

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its second straight session retreat since May 19, 2017 against the US dollar amid tight economic data by Eurozone economies in the last week's session And on the eve of developments and economic data expected Friday by the US economy, the largest economy in the world.

At 04:58 GMT, the EURUSD rose 0.01% to 1.1182, compared to the opening at 1.1181, after the pair reached a high of 1.1185 and a low of 1.1175.

Investors are currently waiting for the US economy to release the Durable Goods Orders, which account for almost half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect a 2.0% decline versus 2.6% in March. The core reading of the same index shows a slowdown in growth to 0.1% versus 0.3% in March.

Technical Analysis

The EURUSD came just a few pips from our first target in our latest reports at 1.1100 and rebounded to test the pivotal resistance at 1.1180 now, affected by the positive stochastic, noting that SMA 50 continues to pressure the pair negatively, keeping opportunities for resumption The expected bearish trend for the coming period, whose targets extend to 1.1000.

From here, we continue to hold the downside if the price does not push through the 1.1180 and then 1.1255 levels and stability above it.

The trading range for today is expected between 1.1100 and 1.1255 support.

The general trend for today is bearish.