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The Australian dollar fluctuated in a tight range slipping towards the Asian session to stabilize near its near-six-month low against the US dollar on the eve of economic developments and data expected Friday by the US economy, the world's largest economy.

At 0235 GMT, the AUDUSD dropped 0.07% to 0.6892, compared to the opening levels of 0.6899, after recording a low of 0.6880 and a high of 0.6904.

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 narrow range continues to dominate AUDUSD trading, which fluctuates around the 0.6900 level, keeping our bearish outlook intact for the coming period, supported by SMA 50, which is negatively impacting the price, noting that our next target is at 0.6800, While stability below 0.6945 is required.

The trading range for today is expected among the support at 0.6820 and the resistance at 0.6945.

The general trend for today is bearish.

Amazon is back on the downside after 1890.43 broke and closed below it.

The price fluctuates below the moving averages 7-7 and 50 which press the price to drop and continue to decline and test the next support 1765.47.

Stochastic is in a downtrend and is heading towards oversold areas so the price could drop to support levels 1756.27.00.

The expected movement between the support 1765.27 and the resistance 2050.80.

General direction of the movement: bearish.

EURUSD

The pair remains within the range of 1.1120–1.1260 against the backdrop of the uncertainty surrounding the US-China trade dispute and the Fed’s future monetary policy.

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and is growing. Stoch are in the overbought territory.

Trading recommendations:

If the pair goes above 1.1200, a local growth to 1.1260 is possible. At the same time, if it drops below 1.1180, it may return to 1.1120 at the edge of the range.

The US dollar fluctuated in a narrow range slipping towards the Asian session to see its rebound to its third session since May 7 against the Japanese Yen following developments and economic data that followed on the Japanese economy and on the eve of developments and economic data expected Thursday by the US economy The world's largest economy.

At 05:53 am GMT, the pair dropped 0.07% to 110.28 compared with the opening levels at 110.36, after reaching a low of 110.13, while the highest at 110.37.

We followed the release of Markit Industrial PMI's preliminary reading of Japan, the world's third-largest industrial country, which showed a contraction of 49.6 versus a widening of 50.2 in April, contrary to expectations of an expansion of 50.5, A reading below 50 indicates a contraction of the sector, while reading at 50 or higher reflects a widening of the sector.

Technical Analysis

The USDJPY remains stuck between the confirmation levels of 110.08 and the resistance at 110.86, so our neutral position remains intact, waiting for one of these levels to break further to define its next targets more accurately, noting that breaking the support will put the price under the corrective downward pressure again, To start with the negative targets at 109.44 and extend to 108.80, while breaching the resistance key to restore the main trend upward and target areas of 112.14 initially.

The trading range for today is expected among the key support at 109.60 and the resistance at 111.20.

The expected general trend for today: neutral.

Gold futures traded in a tight range slipping into the Asian session as the US dollar index rose to its highest level since April 23, when it tested its highest since May 16, 2017 according to the inverse relationship between them on the eve of developments and data Economic outlook on Thursday by the US economy, the world's largest economy.

Gold futures for June delivery fell 0.10% to currently trade at $ 1,272.20 per ounce from the opening at $ 1,273.30 per ounce, with the US dollar index rising 0.08% to 98.14 compared to the opening at 98.07. .

Investors are currently waiting for the US economy to read the Jobless Claims for the week ending May 18th, which could reflect a rise of 3K to 215K versus 212K in the previous week's reading. For the week ending on 11 of this month, up by 9 thousand applications to 1,690 thousand applications compared to 1,660 thousand applications.

This comes before we see the largest industrialized country in the world disclosure of the preliminary reading of the Industrial Purchasing and Service Index Markit for the United States for the month of May, amid expectations for the expansion of the industrial sector to 53.0 compared to 52.6 in April, and the expansion of the service sector to what 53.6 versus 53.0 in April.

To reveal the housing market data with the release of the new home sales index, which may show a decline of 2.5% to 678 thousand homes compared to a rise of 4.5% at 692 thousand homes in March, and comes hours after the disclosure of minutes of the meeting of the Federal Committee, which expressed the During which the monetary policy makers of the Federal Reserve are determined not to take any steps towards interest rates "for some time" even if the economy improves.

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

Gold continues to fluctuate below 1275.30. The downside correction remains valid for the coming sessions, supported by the SMA 50, awaiting the resumption of the bearish trend with the next target at 1253.20, while the downside will remain intact unless 1275.30 and 1282.00 are breached and stability above it.

The trading range for today is among the support at 1255.00 and resistance at 1282.00.

The general trend for today is bearish.

The single currency of the European Union region fluctuated in a narrowly bearish range during the Asian session to see a rebound in the eighth session in nine sessions from its highest since early May against the US dollar on the eve of developments and economic data expected Thursday by the Eurozone economies and the US economy. The world economy, which includes the orientation of voters from 28 countries of the Union today and tomorrow Friday and after Saturday to the ballot box for the election of 751 members of the European Parliament.

At 04:42 GMT, the EURUSD fell 0.01% to 1.1149, compared to the opening at 1.1150, after the pair reached a low of 1.1148 and a high of 1.1157.

German markets are looking for the end-of-quarter GDP reading, which may reflect the growth stability of the eurozone's largest economy at 0.4%, unchanged from the previous reading and unchanged at zero levels in the fourth quarter. The same growth stability of 0.7%, and the seasonally adjusted annual reading of the index may show a 0.6% growth.

Before the French economy and the economy of the region as a whole saw the initial reading of the Markit Index for Industrial and Service Purchasing Managers this month, which may reflect the expansion of the industrial and service sectors in France, the contraction of the industrial sector and the contraction of the expansion of the service sector in Germany, The expansion of the industrial sector and the expansion of services in the economies of the region as a whole.

This comes before Germany's biggest economy is also seeing the IFO Business Climate Index reading, which may reflect the stability of the widening at 99.2, little changed from last April, while the same indicator reading of expectations may see the width widen to its value 95.0 vs. 95.2 in April. The same indicator reading of the current assessments may show a widening to 103.5 versus 103.3 last month.

The European Central Bank issued its semi-annual report to review financial stability, and the release of the European Central Bank's monetary policy meeting held on the 10th of last month, during which the interest rate was maintained at current zero levels and the marginal lending rate stabilized at 0.25% On the negative deposit rate of -0.40%.

On the other hand, we followed Wednesday the European Commission reported that it is closely following the developments of the file of Britain's exit from the European Union and patiently waiting for the final British decision on its position on leaving the Union. In another context, the Italian Prime Minister Giuseppe Conte said he believes that the policies followed by the Union Has a devastating social impact and is in dire need of rapid change, while expressing his government's commitment to exceeding its growth expectations this year.

On the other hand, investors are currently waiting for the US economy to read the Jobless Claims for the week ending May 18th, which could reflect a rise of 3K to 215K vs. 212K last week, Investors' claims for the week ending on the 11th of this month rose 9,000 to 1,690,000 versus 1,660,000.

This comes before we see the largest industrialized country in the world disclosure of the preliminary reading of the Industrial Purchasing and Service Index Markit for the United States for the month of May, amid expectations for the expansion of the industrial sector to 53.0 compared to 52.6 in April, and the expansion of the service sector to what 53.6 versus 53.0 in April.

To reveal the housing market data with the release of the new home sales index, which may show a decline of 2.5% to 678 thousand homes compared to a rise of 4.5% at 692 thousand homes in March, and comes hours after the disclosure of minutes of the meeting of the Federal Committee, which expressed the During which the monetary policy makers of the Federal Reserve are determined not to take any steps towards interest rates "for some time" even if the economy improves.

Technical Analysis

The EUR / USD pair continues its negative negative move to the 1.1180 level. Therefore, there is no change in the short and short term bearish scenario targeting 1.1100 and 1.1000 as the next major stops, while achieving stability below 1.1180 and above 1.1255.

The trading range for today is expected between 1.1070 and 1.1230 support.

The general trend for today is bearish.

Cisco returned to the dips again but was unable to break through the resistance as it reached this summit and rebounded.

The moving averages move together at the same point and form a support level for the price.

Stochastic in the saturation area of the buyout gives a signal out of which it is therefore possible to see a drop in price to the support area of 53.41.

Pay attention to the correction that is likely to occur as a result of profit taking.

The general trend of the movement is bullish.

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 following developments and economic data that followed it on the Australian economy and on the eve of developments and economic data expected Thursday by the US economy, the largest economy in the world .

At 0235 GMT, the AUDUSD fell 0.17% to 0.6870 compared with the opening levels at 0.6882 after the pair reached a low of 0.6867, while the pair reached a high of 0.6883.

We have followed the Australian economy to reveal the May Industrial PMI preliminary reading which expanded to 51.1 versus 50.9 last April, in conjunction with the preliminary reading of the PMI for the month of March which also showed an expansion To 52.3 versus 50.1 in April.

On the other hand, investors are currently waiting for the US economy to read the Jobless Claims for the week ending May 18th, which could reflect a rise of 3K to 215K vs. 212K last week, Investors' claims for the week ending on the 11th of this month rose 9,000 to 1,690,000 versus 1,660,000.

This comes before we see the largest industrialized country in the world disclosure of the preliminary reading of the Industrial Purchasing and Service Index Markit for the United States for the month of May, amid expectations for the expansion of the industrial sector to 53.0 compared to 52.6 in April, and the expansion of the service sector to what 53.6 versus 53.0 in April.

To the release of the housing market data with the release of the new home sales index, which may indicate a decline of 2.5% to 678 thousand homes compared to a rise of 4.5% at 692 thousand homes in March, and this comes hours after the disclosure of minutes of the meeting of the Federal Market Commission In which the Fed's monetary policymakers expressed their willingness to pursue a policy of patience.

Technical Analysis

The AUDUSD has been trading sideways and narrow range since yesterday and stabilizes below 0.6900. Therefore, the bearish scenario will remain unchanged, relying on the move within the descending main channel shown in the image, supported by the negative pressure formed by SMA 50 , Waiting for a visit to 0.6800 as the next major station, with a reminder that stability below 0.6945 represents the first condition for the continuation of the suggested decline.

The trading range for today is expected among the support at 0.6820 and the resistance at 0.6945.

The general trend for today is bearish.

GBPUSD

The pair is still in a short-term downtrend due to high likelihood of Theresa May leaving the office of the British PM very soon.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is entering the oversold territory. Stoch are reversing downwards.

Trading recommendations:

If the pair passes the support level of 1.2620 may bring the price further down to 1.2550.

Aeroflot continues to be on the downside for the fourth consecutive week.

The price is currently subjected to negative pressure from the moving averages that are moving above the price and pressure it to land.

The SMA 50 continues to move above the price forming strong resistance and the average moves near resistance at 95.64

Stochastic has reached the area of saturation of the sale and continuous movement in this area.

General trend of the movement: bearish.