Analytic reviews

Amazon is back on the uptrend after the resistance broke through 1891.79 and closed above it after last week's drop 

The price fluctuates above the moving averages 7-7 and 20 which support the price to rise and continue in the bullish path. 

  The stochastic is out of oversold areas on a bullish upward path so the price could rise to the 1951.00 highs 

The expected movement between the support 1765.27 and the resistance 2050.80 

General direction of the movement: upward 

The US dollar fell during the Asian session to rebound from its highest level since May 10 and is poised for its longest weekly losses since late 2008 against the Japanese yen following the economic developments and data that followed on the Japanese economy and on the eve of economic developments and data expected on Friday from Ahead of the US economy, the world's largest economy.   

At 05:55 GMT, the pair was down 0.19% to 109.64 compared to the opening levels of 109.85, after reaching its lowest level during the session at 109.60, while achieving a high of a week at 110.03.   

We followed the Japanese economy, the world's third-largest industrial country, to release industry data with the Tertiary Industrial Index reading, which showed a drop to 0.4% from 0.6% in February, above expectations of a 0.1% rise.   

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. 

The USD / JPY pair is back towards the pivotal resistance of 110.08, accompanied by the negativity of Stochastic for positive momentum and reaching overbought areas, while SMA 50 represents negative pressure against the pair.   

Therefore, these factors encourage us to continue to moderate the bearishness during the coming sessions, with the next key target at 108.80, while stability below 110.08 is an important condition for the continuation of the suggested decline.   

The trading range for today is expected among the support at 109.00 and the resistance at 110.40   

The general trend for today is bearish 

GBPUSD

The pair remains in a downtrend against the backdrop of the political crisis in the UK and the vague prospects for Brexit. These negative factors, as well as the positive economic statistics in the States, will exert pressure on the pair.

The price is below the middle Bollinger band, below the SMA 5 and SMA 14. The relative strength index RSI is located in the oversold zone. Stoch not informative and are in it.

Trading recommendations:

If the price falls below the level of 1.2780, there is a possibility of resuming its fall to 1.2700.

The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session to see its rebound for the ninth session in 15 sessions from its lowest since May 30 of 2017 against the US dollar on the eve of economic developments and data expected Thursday by the economies of the region The euro and the US economy are the largest economy in the world.   

At 4:50 am GMT, the EURUSD rose 0.03% to 1.1207 compared with the opening at 1.1204, after reaching a high of 1.1209, while reaching a low of 1.1201.   

German Central Bank Governor Jean Widman is expected to deliver a speech under the headline "The Challenges of the German Economic Model" at the German Savings Bank Association in Hamburg. This comes before the Eurozone economy as a whole sees the seasonally adjusted Trade Balance Which could reflect a contraction of the surplus to 19.0 billion euros from 19.5 billion euros in February. 

This comes in line with Italy's trade balance, which may indicate a surplus of € 4.24 billion to € 3.27 billion, amid the Eurogroup meetings in Brussels attended by the President of the Eurogroup, the finance ministers of Eurozone member states, the Commissioner for Economic and Monetary Affairs and the Governor of the Bank Which discusses many financial issues such as euro support mechanisms and government funding.   

On the other hand, investors are currently waiting for the US economy to release the index of claims for the week ending May 11, which may reflect a decline of 8 thousand requests to 220 thousand requests compared with 228 thousand applications in the previous weekly reading, Investors' applications for the fourth week of this month fell 4K to 1,680K versus 1,684K.   

This is in conjunction with the disclosure of housing market data and the reading of the Construction Starts Index and Construction Permit, which may reflect an increase during April. Building permits are expected to rise 1.4% to 1,287 thousand versus 1.7% In March. Existing homes may also rise 6.2% to 1,209,000 versus 0.3% at 1,139,000.   

Markets also look to the world's largest industrial nation to see the Philadelphia Industrial Average read out, which could reflect a widening of 10.0 versus 8.5 in April, and the upcoming talk by Federal Reserve Vice President and Federal Open Market Committee member Ellen Bernard about expectations For economic and monetary policy at the annual symposium of the National Association of Taxation in Washington. 

The EUR / USD pair has tested the 1.1180 level but has not been able to break it yet. The price is under continuous negative pressure coming from the SMA 50, awaiting confirmation of the breach towards 1.1100 and 1.1000 which represent our next key targets.   

Therefore, we will continue to bias the bearishness during the coming sessions provided that the price keeps the daily closing below 1.1250.   

The trading range for today is expected among the key support at 1.1120 and resistance at 1.1280   

The general trend for today is bearisharish 

Gold futures traded in a tight range slipping into the Asian session to see their rebound for the third straight session since April 11, negating the negative stability of the US dollar index according to the inverse relationship between them on the eve of developments and economic data expected on Thursday from Ahead of the US economy, the world's largest economy.   

Gold futures for June delivery fell 0.07% to currently trade at $ 1,296.80 per ounce, showing a five-week rally from the opening at $ 1,297.70 an ounce, while the dollar index 0.01% to 97.53 compared to the opening at 97.54.   

Investors are currently waiting for the US economy to release the May 11 Jobless Claims reading, which may reflect a decline of 8K to 220K versus 228K in the previous week's reading. For the week ending on the fourth of this month decreased by 4 thousand applications to 1,680 thousand applications against 1,684 thousand applications. 

This is in conjunction with the disclosure of housing market data and the reading of the Construction Starts Index and Construction Permit, which may reflect an increase during April. Building permits are expected to rise 1.4% to 1,287 thousand versus 1.7% In March. Existing homes may also rise 6.2% to 1,209,000 versus 0.3% at 1,139,000.   

Markets also look to the world's largest industrial nation to see the Philadelphia Industrial Average read out, which could reflect a widening of 10.0 versus 8.5 in April, and the upcoming talk by Federal Reserve Vice President and Federal Open Market Committee member Ellen Bernard about expectations For economic and monetary policy at the annual symposium of the National Association of Taxation in Washington.   

Otherwise, we went on Wednesday, Chinese President Xi Jinping said the importance of the countries to treat each other equitably, adding that the world situation is unstable and controlled by uncertainty, adding that they call on nations to open their markets and work to support international trade, and came Hours after China's foreign minister said it was the United States that described the trade dispute with his country as a trade war.   

The Chinese foreign minister noted that China's actions are purely self-defense, adding that if the United States does not want to trade with China, other countries will close the gap, adding that there will be an upsurge in trade disputes over the country's domestic economy. , But can be overcome in the affirmation of confidence in the economic prospects of Beijing. 

He also expressed Beijing's hopes that Washington would stop using national security as an excuse to suppress Chinese companies. He said his country urges America to create a fair environment for Chinese companies, following the report on US President Trump's intention to sign a ban on Huawei. Trump yesterday signed an executive order that could prevent Chinese telecoms companies Huawei and ZTEE from selling their equipment in America later.   

In contrast, US Treasury Secretary Stephen Manuchen noted during a testimony before the US Senate that trade negotiations with China were good until China recently retreated from its trade commitments with his country, saying he was likely to go to China soon to continue trade talks, That his country is close to reaching an agreement with Canada and Mexico on tariffs.   

US President Trump said on Tuesday that trade talks with China had not collapsed, and the Chinese Foreign Ministry spokesman said Beijing and Washington agreed to continue trade negotiations after China announced on Monday its intention to increase import duties on its imports. With US goods estimated at $ 60 billion from 10% to 25% by early June.   

China's decision at the beginning of the week highlighted the escalating trade war between the United States and the United States, which last week lifted tariffs on Chinese goods valued at $ 200 billion, from 10 percent to 25 percent, bringing China's customs duties to 25 percent, About $ 250 billion, amid a threat by the administration of US President Trump to impose customs duties 25% on other Chinese goods estimated at $ 325 billion soon.

The price of gold continues to fluctuate in a sideways path and is still limited between the 1302.60 resistance and the 1286.00 support, waiting for one of these levels to break more precisely to determine the next direction, which continues to neutralize us so far.   

The negativity between SMA 50 and Stochastic negativity presents another reason for neutrality, noting that the break of the mentioned support will put the price under negative pressure with targets starting at 1275.30 and extending to the 50% Fibonacci level at 1253.20 while breaching the resistance will lead the price for additional gains up to 1320.00 then 1346.70 in the near term.   

The trading range for today is among the support at 1285.00 and resistance at 1315.00   

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

The US dollar fluctuated in a tight range slipping into the Asian session against the Japanese yen following 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 Thursday by the US economy, the largest economy in the world.   

At 05:46 GMT, the USDJPY dropped 0.13% to 109.46 compared to the opening levels at 109.60, the pair's highest level during the session, while the pair reached a low of 109.34.   

We followed the Japanese economy to reveal inflation data with the release of the producer price index, which is a preliminary index of inflationary pressures, which showed a stable growth of 0.3%, unchanged from last March, surpassing expectations that indicated the contraction of growth to 0.2%, while the annual reading of the same index showed a slowdown in growth to 1.2% compared to 1.3%, exceeding expectations of 1.1%. 

On the other hand, investors are currently waiting for the US economy to release the index of claims for the week ending May 11, which may reflect a decline of 8 thousand requests to 220 thousand requests compared with 228 thousand applications in the previous weekly reading, Investors' applications for the fourth week of this month fell 4K to 1,680K versus 1,684K.   

This is in conjunction with the disclosure of housing market data and the reading of the Construction Starts Index and Construction Permit, which may reflect an increase during April. Building permits are expected to rise 1.4% to 1,287 thousand versus 1.7% In March. Existing homes may also rise 6.2% to 1,209,000 versus 0.3% at 1,139,000. 

Markets also look to the world's largest industrial nation to see the Philadelphia Industrial Average read out, which could reflect a widening of 10.0 versus 8.5 in April, and the upcoming talk by Federal Reserve Vice President and Federal Open Market Committee member Ellen Bernard about expectations For economic and monetary policy at the annual symposium of the National Association of Taxation in Washington. 

The USD / JPY pair attempted to break the 109.44 level, but is back above it. Negative pressure from the SMA 50 remains intact, awaiting the resumption of negative attempts and targeting the 108.80 level which is our next major stop.   

All in all, we will maintain our bearish outlook unless the 110.08 level is breached and stabilized above it.   

The trading range for today is expected among the key support at 108.80 and the resistance at 110.20   

The general trend for today is bearishfor 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, following the economic developments and data that followed on the Australian economy and on the eve of developments and economic data expected On Thursday by the US economy, the world's largest economy.   

At 02:21 GMT, the AUDUSD fell 0.16% to 0.6917, compared with the opening levels of 0.6928, after reaching a low of five-month low of 0.6893, while the highest at 0.6448.   

On the Australian economy, the Melbourne Institute reading of consumer expectations of inflationary pressures showed that growth slowed to 3.3% from 3.9% last April, before we saw labor market data showing a rise in unemployment to 5.1% versus 5.1%. In March compared with expectations of 5.0%. 

We also followed the reading of the Employment Change Index, which rose to 28.4K compared to 27.7K in March, in contrast to expectations of 15.2K. This came on the heels of a recent interview by Assistant Governor of the Reserve Bank of Australia, Michelle Bullock, regarding the new payment platform at the Annual Mandy Securities Commission Australian Finance and Investments in Sydney. 

On the other hand, investors are currently waiting for the US economy to release the index of claims for the week ending May 11, which may reflect a decline of 8 thousand requests to 220 thousand requests compared with 228 thousand applications in the previous weekly reading, Investors' applications for the fourth week of this month fell 4K to 1,680K versus 1,684K. 

This is in conjunction with the disclosure of housing market data and the reading of the Construction Starts Index and Construction Permit, which may reflect an increase during April. Building permits are expected to rise 1.4% to 1,287 thousand versus 1.7% In March. Existing homes may also rise 6.2% to 1,209,000 versus 0.3% at 1,139,000.   

Markets also look to the world's largest industrial nation to see the Philadelphia Manufacturing Index, which may reflect a widening of 10.0 versus 8.5 in April, to the forthcoming talk of Federal Reserve Vice President and Federal Open Market Committee member Ellen Bernhard about policy expectations Economic and monetary debate at the annual symposium of the National Association of Taxation in Washington. 

The AUDUSD is showing further bearishness approaching the target of 0.6905, while we expect the bearish trend to continue towards our extended target at 0.6800, supported by the negative pressure provided by SMA 50, Stability below 0.7044.   

The trading range for today is among the key support at 0.6870 and resistance at 0.6980   

The general trend for today is bearish 

AUDUSD

The pair remains in a downtrend against the background of a lack of certainty in the negotiations on trade between America and China, as well as expectations that the RBA will continue to lower interest rates.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. The RSI is in the oversold zone. Stoch make an attempt to turn down.

Trading recommendations:

If the price holds below the level of 0.6915 and then drops below the 0.6900 mark, it can continue falling to the local minimum of the beginning of 2016, 0.6835.

Gold futures traded in a tight range slipping into the Asian session to see their second straight session rebound since April 11, shrugging off the decline in the dollar index, resuming its bounce from its highest since May 16, 2017 according to Of the inverse relationship between them after the developments and economic data that followed the Chinese economy, the largest consumer of metals globally and on the brink of developments and economic data expected Wednesday by the US economy, the largest economy in the world.   

Gold futures for June delivery fell 0.09% to currently trade at $ 1,296.30 per ounce, showing a five-week rally from the top of $ 1.298.00 per ounce. 0.01% to 97.51 compared to the opening at 97.53.   

We followed the National Bureau of Statistics (NBS) survey for China on the annual reading of the Retail Sales Index, which showed a slowdown in growth to 7.2% from 8.7% in March, worse than expectations of 8.6%. From 8.5% in March, also worse than expected at 6.5%, while the unemployment rate dropped to 5.0% from 5.2% in March. 

On the other hand, investors are currently waiting for the US economy to reveal the reading of retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect slowing growth to 0.2% from 1.6% in March. The core reading of the index itself may show a slowdown in growth to 0.7% from 1.2% in March.   

This comes in conjunction with the release of the New York Industrial Index, which may reflect the contraction of the breadth to 8.2 against 10.1 last April, and before we also see the largest industrial country in the world published the Industrial Production Index, which may show stability at zero levels Up from 0.1% in March, while the Energy Use Index may show slowing growth to 78.7% from 78.8% in March. 

To Federal Reserve Vice Governor Randall Quarles' testimony to the Senate Banking Committee's oversight and regulation before we see the housing index reading by the National Association of Home Builders, which may reflect a widening to 64 versus 63 in April, The reading of wholesale inventories, which may show stability at zero levels, versus 0.3% in February.   

On Tuesday, we followed US President Donald Trump's assertion that China's trade talks with China had not collapsed, and a spokesman for the Chinese Foreign Ministry said Beijing and Washington agreed to continue trade negotiations following China's announcement on Monday of its intention to increase tariffs On its imports with US goods estimated at $ 60 billion from 10% to 25% by the beginning of June. 

China's decision at the beginning of the week highlighted the escalating trade war between the United States and the United States, which last week lifted tariffs on Chinese goods valued at $ 200 billion, from 10 percent to 25 percent, bringing China's customs duties to 25 percent, About $ 250 billion, amid a threat by the administration of US President Trump to impose customs duties 25% on other Chinese goods estimated at $ 325 billion soon. 

The price of gold is creeping down slightly to gradually move away from 1302.60, and the price remains limited between the pivotal levels of resistance and support at 1287.00, which keeps us neutral until we get a clearer signal for the next direction by breaching one of these levels.   

We will mention that breaching the mentioned resistance will push the price to confirm the resumption of the main bullish trend and achieve positive targets starting at 1326.00 and extending to 1346.73, while breaking the support will press the price to decline again and target levels of 1275.30 and 1253.20 in the near term.   

The trading range for today is among the support at 1285.00 and resistance at 1315.00 

  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 to see its rebound for the ninth session in 14 sessions from its lowest since May 30 of 2017 against the US dollar on the eve of economic developments and data expected Wednesday by the region's economies The euro and the US economy are the largest economy in the world.   

At 4:50 am GMT, the EURUSD rose 0.03% to 1.1207 compared with the opening at 1.1204, after reaching a high of 1.1209, while reaching a low of 1.1201.   

The markets are currently waiting for the euro zone's largest economy to release the seasonally adjusted preliminary reading of Q1 GDP, which may reflect a 0.4% expansion versus stability at zero levels in the fourth quarter, while the seasonally adjusted annualized reading of the same indicator may show a slowdown Growth to 0.7% compared to 0.9% in the previous quarter's previous reading.

This comes before we see the second largest economy of the euro area France revealed the final reading of the consumer price index, which may reflect the stability of growth of 0.2%, unchanged from the previous preliminary reading for the month of March and against 0.8% in the previous reading for the month of February, Before the initial reading of the Eurozone Employment Change Index, which could show slowing growth to 0.2% vs. 0.3% in the fourth quarter.   

This comes in conjunction with the release of the seasonally adjusted preliminary reading of the Q1 GDP for the first quarter of the eurozone as a whole, which may reflect a stable growth of 0.4%, unchanged from the previous Q4 reading. Also remained unchanged from the previous year's fourth quarter reading.   

On the other hand, we have followed Tuesday reported Italian Deputy Prime Minister Matteo Salveni that the Italian government may increase the budget deficit to 3% and the general government debt to between 130% to 140% of the GDP of his country to support the conditions of the labor market, Who has re-expressed concern over renewed tensions over the Italian government's budget between the EU and the Italian government and the European Commission's failure to approve them. 

On the other hand, investors are currently waiting for the US economy to reveal the reading of retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect slowing growth to 0.2% from 1.6% in March. The core reading of the index itself may show a slowdown in growth to 0.7% from 1.2% in March.   

This comes in conjunction with the release of the New York Industrial Index, which may reflect the contraction of the breadth to 8.2 against 10.1 last April, and before we also see the largest industrial country in the world published the Industrial Production Index, which may show stability at zero levels Up from 0.1% in March, while the Energy Use Index may show slowing growth to 78.7% from 78.8% in March.   

To Federal Reserve Vice Governor Randall Quarles' testimony to the Senate Banking Committee's oversight and regulation before we see the housing index reading by the National Association of Home Builders, which may reflect a widening to 64 versus 63 in April, The reading of wholesale inventories, which may show stability at zero levels, versus 0.3% in February. 

The EUR / USD pair has moved slightly lower to keep the pair close to the 1.1180 level, adding to expectations that the bearishness will continue over the short and short term, noting that Stochastic is providing a negative cross that supports the breach of the mentioned level to confirm the trend towards 1.1100 then 1.1000.   

Therefore, we will maintain our bearish outlook on condition that the price remains steady below 1.1250.   

The trading range for today is expected among the key support at 1.1120 and resistance at 1.1280   

The general trend for today is bearish