Analytic reviews

AUDUSD

The pair plummeted after the RBA head Philip Lowe announced possible interest rates reduction at the regulator’s meeting this June. This, as well as the lack of US-China trade deal, may pressure the pair to move downwards.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving down. Stoch are falling.

Trading recommendations:

Sell the pair after it passes the level of 0.6865 with a possible target of 0.6800.

The single currency of the European Union region fluctuated in a narrowly bearish range during the Asian session, its lowest since May 3 against the US dollar on the eve of economic developments and data expected on Monday by the Eurozone economies amid a lack of economic data by the US economy. The world's largest economy.

At 5:36 am GMT, the EURUSD dropped 0.07% to 1.1152, compared to the opening at 1.1160, after hitting a three-week low of 1.1151, while reaching a high of 1.1168.

The markets are currently waiting for the euro zone's largest economy to see the Producer Price Index (PPI), a preliminary index of inflationary pressures, which could reflect 0.4% growth versus 0.1% contraction in March, while the index's annual reading may show growth stabilizing at 2.4% With little change from the previous year's reading for the month of March.

This comes before we see the economies of the euro-zone as a whole to unveil the seasonally adjusted current account index, which could reflect a contraction of the surplus to € 24.2 billion from € 26.8 billion in February, revealing the monthly report of the Bundesbank, Italian Deputy Prime Minister Matteo Salveni said on Friday that he saw tax cuts would reduce bond yields, debt and budget deficits.

Technical Analysis

The EURUSD finished last week below 1.1180, supporting the continuation of our short and short term bearish outlook, with the next targets at 1.1100 and 1.1000.

SMA 50 continues to support the suggested bearish wave, noting that a break of 1.1250 will halt the expected decline and push the price for gains initially starting at 1.1443.

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 fluctuated in a narrowly bearish range to see their fifth straight session rebound since April 11 as the US dollar index rose for the sixth consecutive session from its lowest since 18 of the same month according to the inverse relationship between them after the data Economic news that followed Monday's economic growth as the economic data of the US economy worsened over the weekend.

Gold futures for June delivery fell 0.07% to currently trade at $ 1,276.50 per ounce, showing a six-week high rebound compared to the opening at $ 1,277.60 an ounce, amid a rally in the US Dollar Index 0.05% to 98.02, the highest since May 3, compared with the opening at 97.96.

Technical Analysis

Gold has found strong support at 1275.30 to settle now, as the rising trend line meets 38.2% Fibonacci correction and Stochastic is showing oversold territory, supporting the strength of the current areas and providing opportunities for recovery in the coming sessions.

On the other hand, trading below the resistance line of the bearish correction and the negative pressure formed by SMA 50 indicates the possibility of a return to the downside correction.

Therefore, this contradiction between the technical factors makes us prefer to continue our neutrality until the price confirms break the support 1275.30 or break the resistance 1285.00, noting that breaking the support mentioned will press the price to visit the level of 1253.20 as the next corrective target, while breaking the resistance will stimulate the price to gain Start at 1302.60 and extend to 1320.00 after exceeding the previous level.

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 US dollar fluctuated in a narrowly bullish range during the Asian session to see its sixth session rebound since the beginning of February against the Japanese yen following developments and economic data followed Monday by the Japanese economy, the third largest economy in the world amid a lack of economic data by The US economy is the world's largest economy earlier this week.

At 0616 GMT, the USDJPY rose 0.5% to 110.16 compared to the opening levels at 110.10, after hitting its highest since May 7 at 110.32, Session at 110.02.

On the Japanese economy, the preliminary reading of GDP for the first quarter, which showed a 0.5% expansion, showed little change from the previous quarter's reading, in contrast to expectations of 0.1% contraction. The preliminary annual reading of the index showed growth accelerated to 2.1% versus 1.6%. % In the fourth quarter, also contrary to expectations that indicated contraction of 0.2%.

This came before the world's third-largest industrialized nation saw industrial sector data release with the final release of industrial production, which showed a contraction of 0.6% from March's preliminary reading and expectations of 0.9% versus 0.7% in February. , As the annual index of the same index showed that the decline shrank to 4.3% from 4.6% while energy utilization declined 0.4% from 1.0%.

On the other hand, investors are looking to talk to Fed Deputy Governor Richard Clarda later today about the Federal Reserve policy strategy, tools and communication practices at the event hosted by the New York Federal Bank, and this comes hours before the forthcoming speech of Federal Reserve Governor Jerome Powell tomorrow Tuesday at the Florida Financial Markets Conference entitled "Risk Assessment of Our Financial System".

Technical Analysis

The USD / JPY pair has tested the 110.08 level and has maintained its stability below it, keeping the bearish scenario intact so far, and the price needs to breach 109.44 to head towards our next major target at 108.80, noting that a break of 110.08 will push the price for additional gains to start At 110.86 and extending to restore the bullish trend over the short term.

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.

The support level stood at 225.32 in front of the Sber bank to keep price in the sideways movement.

Sberbank is moving within a sideways trend that is inclined to rise under the 50 SMA as it moves below the price and forms support levels for the price.

Stochastic is in a bullish path but it gives a bearish cross break in an attempt to break the price support level.

The expected movement between 211.40 support and resistance 247.20.

General direction of movement: Side.

The Australian dollar fluctuated in a narrowly bearish range against the US dollar during the Asian session after opening this week at a bullish price after Australian Prime Minister Scott Morrison unexpectedly beat the federal election in Australia over the weekend. Monday from economic data for both Australia and the United States.

At 02:33 GMT, the AUDUSD rose 0.20% to 0.6930, compared to the opening levels of 0.6909, after reaching a low of 0.6888, while the highest at 0.6931.

Investors are now looking to talk to Federal Reserve Vice President Richard Clarenda about the Federal Reserve policy strategy, tools and communication practices at the event hosted by the Bank of New York Federal Reserve, and this comes hours before the forthcoming speech of Federal Reserve Governor Jerome Powell at the Markets Conference In Florida under the title "Risk Assessment of Our Financial System".

Technical Analysis

The AUDUSD is showing some slight bullishness after the support of the descending channel appearing in the picture, and the price is positively affected by Stochastic, but the overall bearish trend is still valid for the coming period, supported by the negative pressure formed by SMA 50, It resides at 0.6800.

Keep in mind that a break of 0.6945 will push the price to test the most important resistance at 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.

EURUSD

The pair is still in downtrend as Mario Draghi and the ECB are expected to confirm their intention to continue with the soft monetary policy.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is moving down. Stoch are within the oversold territory and aren’t informative.

Trading recommendations:

If the price remains below 1.1160, it may resume falling and drop to 1.1120.

Gold futures rallied in a tight range slipping into the Asian session to see their fourth straight session rebound since April 11, negating the negative stability of the US dollar index, rebounding from the highest since May 3rd according to the inverse relationship On the eve of developments and economic data expected Friday by the US economy, the largest economy in the world.   

Gold futures for June delivery fell 0.05% to currently trade at $ 1,286.30 an ounce, showing a five-week rally from the opening at $ 1.287.20 an ounce, while the dollar index 0.01% to 97.82 compared to the opening at 97.83.   

Investors are currently eyeing the US economy for the first reading of the University of Michigan consumer confidence index, which may reflect a widening to 97.8 versus 97.2 last April, as consumers forecast inflation for one year ahead and five years ahead, Leading indicators that may reflect slower growth to 0.2% vs. 0.4% in March. 

Gold has tested the 1286.00 support level and is now stabilizing around it, which signals the price direction to return to the downside correction, but needs a daily close below the mentioned level to confirm the extension of the downside wave towards 1275.30 and 1253.20.   

In contrast, we note that a breach of 1302.60 will lead the price to regain the main bullish trend and achieve positive targets of 1320.00 and then 1346.73.   

Thus, we will continue to neutralize until the price confirms the breach of support 1286.00 or breach of the resistance 1302.60.   

The trading range for today is among the support at 1275.00 and resistance at 1300.00   

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

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session as it continued its first weekly loss in three weeks against the US dollar on the eve of economic developments and data expected on Friday by Eurozone economies and the US economy, the world's largest economy. 

At 04:46 GMT, the EURUSD rose 0.04% to 1.1178, compared to the opening at 1.1174, after reaching the highest level at 1.1180, while reaching a low of 1.1171.   

Investors are now eyeing the euro-zone economy as a whole to release inflation data with the annual CPI reading, which could reflect a stable 1.7% growth, unchanged from March's preliminary reading, versus 1.4% growth in February Last February, and the core annual reading of the index itself may show growth stability at 1.2% versus 0.8% in February.   

This comes in conjunction with the meetings of ministers of finance ministers of the Euro-zone ECOFIN in Brussels, which discuss many financial issues such as mechanisms to support the euro and government funding, and these meetings are closed to the press, but officials usually talk to reporters throughout the day, and the ECB member Ignazio Vico said yesterday that both the global economy and the euro area are under pressure from US trade protectionism.   

On the other hand, investors are currently looking for the US economy to release the University of Michigan consumer confidence index, which may reflect a widening to 97.8 versus 97.2 last April, as consumers forecast inflation for one year to come and five years ahead, With the release of leading indicators that may reflect slowing growth to 0.2% versus 0.4% in March. 

EURUSD managed to close the daily candlestick below 1.1180, reinforcing expectations that the bearish trend will continue to be effective over the short and medium term, noting that our main awaited targets start at 1.1100 and extend to 1.1000.   

SMA 50 continues to support the suggested bearish wave, noting that a break of 1.1250 will halt the expected decline and push the price to start recovery attempts targeting 1.1443 areas mainly.   

The trading range for today is among the key support at 1.1090 and resistance at 1.1250   

The general trend for today is bearish 

The Australian dollar fell during the Asian session to its lowest level since January 3, when it tested its lowest since March 19, 2009 against the US dollar. On the eve of developments and economic data expected Friday by the US economy, the largest economy the world.   

At 02:21 GMT, the AUDUSD fell 0.10% to 0.6887, compared to the opening levels of 0.6891, after reaching its lowest level in five months at 0.6878, while the highest level was at 0.6896. 

Investors are currently eyeing the US economy for the first reading of the University of Michigan consumer confidence index, which may reflect a widening to 97.8 versus 97.2 last April, as consumers forecast inflation for one year ahead and five years ahead, Which may reflect slowing growth to 0.2% versus 0.4% in March. 

AUDUSD continued to lower and break below 0.6905, consolidating expectations for a short-term downtrend, paving the way towards 0.6800, which is our next major stop.   

Therefore, the bearish trend will remain intact if the price does not push to breached the 0.7044 level and stability above it.   

The trading range for today is expected among the support at 0.6820 and the resistance at 0.6940   

The general trend for today is bearish