Analytic reviews

The Australian dollar fluctuated in a tight range slipping towards the US dollar during the Asian session following the economic developments and data followed Wednesday by the Australian economy and on the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world, Federal Open Market.

There was little change in the Australian Dollar as it opened the day at 0.6879 after recording a low of 0.6870 and a high of 0.6886.

Investors are now waiting for Federal Open Market Committee Chairman James Pollard to speak about the outlook for the US economy and monetary policy at the Hong Kong Correspondents Club, and the speech of New York Bank President John Williams at a press conference on home ownership In the United States in New York.

This comes hours before the minutes of the Federal Committee meeting held at the end of April and early May, during which monetary policy makers at the Federal Reserve agreed to keep rates between 2.25% and 2.50% for the third consecutive meeting To move forward with a reduction in bond buybacks before they are frozen by September and a policy of patience.

Technical Analysis

The AUDUSD is trading below the 0.6900 barrier, and the SMA 50 continues to push the price lower, awaiting further declines in the coming sessions, and we believe that the path is open to achieving our next target at 0.6800.

Keep in mind that a break of 0.6945 would lead the price to instantaneous gains and test areas of 0.7044 before any new attempt to 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.

The single currency of the European Union region fluctuated in a tight range in the Asian session to see its seventh session retreat in eight sessions from its highest since early May against the US dollar amid a lack of economic data on the Euro-zone economies and on the eve of economic developments and data on Wednesday. By the US economy, the world's largest economy.

At 5:18 am GMT, the EURUSD dropped 0.05% to 1.1155, compared with the opening at 1.1161, after the pair reached a low of 1.1153 and a high of 1.1166.

Investors are now waiting for Federal Open Market Committee Chairman James Pollard to speak about the outlook for the US economy and monetary policy at the Hong Kong Foreign Correspondents Club, and the talk of New York Bank President John Williams at a news conference about ownership Houses in the United States in New York.

This comes hours before the minutes of the Federal Committee meeting held at the end of April and early May, during which monetary policy makers at the Federal Reserve agreed to keep rates between 2.25% and 2.50% for the third consecutive meeting To move forward with a reduction in bond buybacks before they are frozen by September and a policy of patience.

Technical Analysis

The EURUSD extended a negative trading session yesterday in an attempt to move away from 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 stations.

Keep in mind that the continuation of the suggested bearish wave requires stability below 1.1180 and above 1.1255.

The trading range for today is expected among the key support at 1.1080 and resistance at 1.1230.

The general trend for today is bearish.

Gold futures traded in a tight range slipping into the Asian session to see their sixth session rebound in seven sessions from its highest since April 11 as the US dollar index rose for the seventh session in eight sessions from its lowest since 18 of the same month according to the relationship On the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world, which includes disclosure of minutes of the meeting of the Federal Open Market Committee.

Gold futures for June delivery fell 0.05% to currently trade at $ 1,273.80 per ounce, showing a six-week high rebound compared to the opening at $ 1,274.40 an ounce, amid the rising US dollar index 0.01% to 98.02, showing a 5-week reversal from the opening at 98.01.

Investors are now waiting for Federal Open Market Committee Chairman James Pollard to speak about the outlook for the US economy and monetary policy at the Hong Kong Foreign Correspondents Club, and the talk of New York Bank President John Williams at a news conference about ownership Houses in the United States in New York.

This comes hours before the minutes of the Federal Committee meeting held at the end of April and early May, during which monetary policy makers at the Federal Reserve agreed to keep rates between 2.25% and 2.50% for the third consecutive meeting To move forward with a reduction in bond buybacks before they are frozen by September and a policy of patience.

On the other hand, we continued this week with the Ministry of Finance reported that the production of Russia (the third largest gold producer in the world) 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 closed the daily candle below 1275.30, to activate the scenario of the bearish trend over the short and short term, as the price is heading for further bearish correction in the coming sessions, noting that our next target is at 1253.20.

SMA 50 supports the suggested bearish wave, while a breach of 1275.30 and then a positive 1283.00 will stop the current negative pressure and push the price to recover again.

The trading range for today is among the support at 1260.00 and resistance at 1285.00.

The general trend for today is bearish.

The US dollar fluctuated in a tight range slipping towards the Asian session to see its rebound to its second highest 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 on Wednesday by the largest US economy World Economy, which includes disclosure of minutes of the FOMC meeting.

At 05:58 am GMT, the pair dropped 0.05% to 110.45 from the opening levels of 110.50, after reaching its lowest level at 110.39, while the highest at 110.63.

We followed the Japanese economy, the world's third-largest economy, by reading the trade balance index, which showed the surplus shrank to 60 billion yen from 529 billion yen in March, worse than the forecast for a surplus of 230 billion yen. Seasonally, the deficit shrank to 111 billion yen from 153 billion yen in March, contrary to expectations that the deficit shrank to 122 billion yen.

The annualized reading of exports showed that the decline of 2.4%, unchanged from March's previous reading, was worse than the 1.5% decline. The annual import reading showed that growth accelerated to 6.4% Compared to 1.2% in the previous year's reading for March, beating expectations that growth accelerated to 4.6%.

We also followed the third-largest industrialized country on the reading of machinery orders reading, which showed growth accelerated to 3.8% from 1.8% in February, in contrast to expectations of stability at zero levels. 0.7% versus 5.5% in the previous annual reading for February, also outperformed expectations of a 3.5% decline.

On the other hand, investors are currently waiting for the Federal Reserve Bank of England (FOMC) Chairman James Pollard to speak about the outlook for the US economy and monetary policy at the Hong Kong Foreign Correspondents Club and the speech of New York Federal Reserve Chairman John Williams at a conference News about US home ownership in New York.

This comes hours before the minutes of the Federal Committee meeting held at the end of April and early May, during which monetary policy makers at the Federal Reserve agreed to keep rates between 2.25% and 2.50% for the third consecutive meeting To move forward with a reduction in bond buybacks before they are frozen by September and a policy of patience.

Technical Analysis

The USD / JPY pair made a clear break of 110.08 and settled above it, signaling signs of an attempt to retrace the bullish trend, supported by moving above SMA 50, but we see that Stochastic is showing a clear buying bias now, Of gains.

Therefore, we prefer to remain neutral until the price confirms the breach of the resistance 110.86 or break the support 110.08, noting that the breach of this resistance will push the price to return to the main upward trend and head towards the areas of 112.14 mainly, while breaking the support will press the price to resume the downward correction Whose next target is at 109.44.

The trading range for today is expected among the key support at 109.80 and the resistance at 111.20.

The expected general trend for today: neutral.

GBPUSD

The pair remains in a short-term downtrend due to the uncertainty surrounding Brexit, as well as the government crisis in the UK. Stronger position of the USD rate and the possible lack of inflation growth in the UK may put the pair under pressure.

The price is below the lower Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is reentering the oversold territory. Stoch are also entering this zone.

Trading recommendations:

The pair may correct upwards to 1.2700, but if it doesn’t take hold above this level, sell the pair with a local target of 1.2575.

The US dollar fluctuated in a narrowly bullish range during the Asian session to see its fifth session rebound in seven sessions from its lowest since early February against the Japanese yen amid tight economic data from the Japanese economy and the speech of Federal Reserve Governor Jerome Powell in Florida and on the eve Developments and economic data expected Tuesday by the US economy, the largest economy in the world.

At 05:08 GMT, the USDJPY rose 0.08% to 110.15 compared to the opening levels at 110.06, after reaching a high of 110.26 and a low of 110.02.

Just a little while ago, Fed Governor Jerome Powell delivered a speech titled "Risk Assessment of Our Financial System" at the Financial Markets Conference. Markets are currently looking to release US housing data with the Existing Home Sales Index reading, which could reflect a 2.7% rise to 5.35 million homes Compared to a 4.9% fall at 5.21 million homes in March.

Technical Analysis

The USD / JPY pair continues to fluctuate around 110.08 and remains below it, keeping our bearish and intraday bearish expectations targeting 109.44 and 108.80 as the next major stops.

The break above 110.08 and stability above it will lead the price to start attempts to recover and regain the main trend again, where the positive targets start at 110.86 and extend to the areas of 112.00 after the breach of the previous level.

The trading range for today is expected among the support at 109.20 and the resistance at 110.60.

The general trend for today is bearish.

Google shares continue to move within a downtrend with failure to breach the resistance at 1188.89

To move between the 1123.06 levels which is support for the aforementioned price and resistance level.

The price is trading below the moving averages, especially the moving average 50, which has become a resistance to the price and intersects the average 20.

Stochastic has reached the areas of saturation of the purchase and reflected it and headed to the lower areas.

General direction of the movement: a downward trend.

Gold futures traded in a tight range slipping during the Asian session to see their sixth straight session retreat since April 11 as the dollar index rose for the sixth session in seven sessions from its lowest since 18 of the same month according to the relationship In contrast to the Federal Reserve Governor Jerome Powell's speech in Florida and on the eve of economic developments and data expected Tuesday by the US economy, the world's largest economy.

Gold futures for June delivery fell 0.04% to currently trade at $ 1,275.30 per ounce, showing a six-week high rebound compared to the opening at $ 1,275.90 an ounce, amid the rising US dollar index 0.07% to 98.00 levels, resuming its decline from its lowest level in five weeks compared to the opening at 97.92.

Just a few days ago, Fed Governor Jerome Powell delivered a speech entitled "Risk Assessment of Our Financial System" at the Financial Markets Conference, in which he expressed the view that commercial lending was not a threat to the US economy such as high-risk mortgages a decade ago, "It seems that the financial system today is strong enough to deal with potential losses in the business sector."

In another context, markets are currently looking to release US housing data as the Existing Home Sales Index, which may reflect a rise of 2.7% to 5.35 million homes from 4.9% at 5.21 million in March, Federal Open Market Committee (FOMC) members are Chairman of the Federal Reserve Bank of Chicago Charles Evans on economics and monetary policy at the Florida Financial Markets Conference and Federal Reserve Bank President Eric Rosengren at the New York Economic Club.

On Wednesday, we expect to see the minutes of the Federal Committee meeting held at the end of April and early May, during which monetary policy makers at the Federal Reserve agreed to keep interest rates at between 2.25% and 2.50% for the third consecutive meeting Amid a move to cut back on bond buying before it is frozen by September and a policy of patience.

Technical Analysis

The price of gold was unable to breach the 1275.30 level, so that the price remains stuck between the mentioned support and the resistance 1285.00, which represents the keys to the next direction, as the price needs to break through one of these levels to determine its next targets more accurately.

We will note that breaking this support will push the pair to further downside correction and visit the 1253.20 level as the next major station, while breaching the resistance will stimulate the pair to gain gains starting at 1302.60 and then 1320.00 in the near term.

The trading range for today is among the support at 1265.00 and resistance at 1290.00.

The expected general trend today: Depends on the levels mentioned in the report.

The single currency of the European Union region fluctuated in a tight range in the Asian session to see its sixth session retreat in seven sessions from its highest since early May against the US dollar after Federal Reserve Governor Jerome Powell spoke in Florida on the eve of economic developments and data. Which is expected on Tuesday by the economies of the euro zone and the US economy, the world's largest economy.

At 05:08 GMT, the EURUSD dropped 0.06% to 1.1159, compared to the opening at 1.1166, after the pair reached a low of 1.1158 and a high of 1.1172.

Investors are currently eyeing the economy of the euro-zone as a whole for the Consumer Confidence reading, which may reflect a stabilization of deflation at a value of 8 unchanged from last April. Otherwise, we followed yesterday the European Commission spokesman Commission President John Claude Juncker will meet US President Donald Trump at the G20 summit in Osaka for trade talks between the two sides.

On the other hand, we have just followed Fed Governor Jerome Powell's speech titled "Risk Assessment of Our Financial System" at the Financial Markets Conference. Markets are currently looking to release US housing data with the Existing Home Sales Index, which may reflect a rise of 2.7 To 5.35 million homes, compared to a 4.9% decline at 5.21 million in March.

This comes before the Federal Open Market Committee's meeting with Federal Reserve Bank President Charles Evans at the Florida Financial Markets Conference on Economy and Monetary Policy before Federal Reserve Chairman Eric Rosengren at the Economic Club in New York.

Technical Analysis

The EUR / USD pair has not seen any strong movement in the past sessions to remain stable below 1.1180, so there is no change in the bearish scenario which is supported by SMA 50, which is based on stability below 1.1250, At 1.1100 and extending to 1.1000.

The trading range for today is expected among the key support at 1.1080 and resistance at 1.1230.

The general trend for today is bearish.

The Australian dollar fluctuated in a tight range slipping against the US dollar during the Asian session following the economic developments and data followed Tuesday by the Australian economy and following the speech by Federal Reserve Governor Jerome Powell in Florida and on the eve of developments and economic data expected Tuesday by the US economy The world's largest economy.

At 5:15 am GMT, the AUDUSD dropped 0.16% to 0.6897 compared with the opening levels of 0.6908 after recording a low of 0.6891, while the highest at 0.6929.

We followed the Australian Reserve Bank disclosure of the minutes of the May 7 meeting of the Reserve Bank of Australia, which approved monetary policy makers setting short-term benchmark interest rates at 1.50% for the 31st consecutive meeting, Interest on federal funds by 25 basis points to 1.25% at the time.

On the other hand, we have just followed the speech of Federal Reserve Governor Jerome Powell under the title "Risk Assessment of Our Financial System" at the Financial Markets Conference, in which he expressed the view that commercial lending is not a threat to the US economy such as high-risk mortgages a decade ago, "It seems that today's financial system is strong enough to deal with potential business losses," he said.

In another context, markets are currently looking for housing market data as the Existing Home Sales Index, which may reflect a rise of 2.7% to 5.35 million homes from 4.9% at 5.21 million in March, Federal Open Market Committee Chairman of the Bank of Chicago Federal Reserve Charles Evans about the economy and monetary policy at the Financial Markets Conference in Florida and the speech of Federal Reserve Bank Chairman Eric Rosengren at the New York Economic Club.

The minutes of the Federal Committee meeting held at the end of April and early May are expected to be unveiled on Wednesday, during which monetary policy makers at the Federal Reserve agreed to keep interest rates at between 2.25 percent and 2.50 percent for the third meeting. Respectively, amid a move to cut back on bond buying before it is frozen by next September.

Technical Analysis

The AUDUSD is nearing the 0.6945 level and is still below it. Therefore, the bearishness will continue to prevail over the coming sessions based on stability below the mentioned level, awaiting the move towards 0.6800, which is our next major stop.

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.