Analytic reviews

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 Wednesday by the US economy, the world's largest economy.   

At 0234 GMT, the AUDUSD fell 0.26% to 0.6926 compared to the opening levels of 0.6944, after hitting a 5-month low of 0.6922, while the highest level at 0.6448.   

We followed the Australian economy to reveal the WISPAC Consumer Confidence Index, which expanded to 101.3 versus 100.7 in April, before we saw a reading of the Wage Price Index, which showed a steady growth at 0.5%, unchanged from what it was In the fourth quarter, in contrast to expectations that accelerated growth to 0.6%, and explained the annual reading of the index stabilizing growth at 2.3% in line with expectations.   

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 AUDUSD is trading in a quiet negative range, gradually approaching our first target at 0.6905, and the price within the descending channels appearing in the picture continues to support the chances of the downside wave extending to 0.6800 as the next major target.   

Therefore, the bearish bias will remain dominant during the coming sessions, provided that the price remains stable below 0.7044.   

The trading range for today is expected among the support at 0.6870 and the resistance at 0.7000   

The general trend for today is bearish 

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 to it. While moving average 20 moves near resistance at 95.78 

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

General trend of the movement: bearish 

The US dollar fluctuated in a narrow bullish range during the Asian session to see its rebound for the third session of its lowest since early February against the Japanese yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and on the eve of developments and economic data expected Wednesday By the US economy, the world's largest economy.   

At 06:02 GMT, the greenback was up 0.06% at 109.68 from the opening level at 109.61, after reaching a high of 109.69 and a low of 109.52.   

We followed the Bank of Japan's release of the annual reading of the Bank of Japan's M2 lending index, which showed growth accelerated to 2.6% from 2.4% in March, in contrast to expectations of a 2.3% slowdown in growth, Of the machinery equipment demand index, which showed a widening decline to 33.4% versus 28.5% in March.   

On the other hand, investors are currently waiting for the US economy to reveal a reading of retail sales, which accounts 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 shows 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 USDJPY gave the pair a positive trading yesterday to breach 109.44 and settle above it, which might push the price to test the most important resistance at 110.08 before reversing again, noting that SMA 50 meets the mentioned resistance to add more strength to it, while Stochastic Negative signals are now clear.   

Therefore, we believe that opportunities are available for resuming the bearish correction during the coming sessions, targeting the level of 108.80 as the next major station, which requires stability to remain below 110.08.   

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 bearish 

EURUSD

The pair continues to balance in the wake of the uncertainty factor of prospects for the world economy's state, as well as the Fed's position on monetary policy, which continue to dominate the markets.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. The RSI is below the level of 50% and moves horizontally. Stoch make an attempt to turn around in the oversold zone.

Trading recommendations:

If the price holds above the level of 1.1200, there is a possibility to continue the formation of the figure of the continuation of the “rising flag” trend. In this case, the pair can grow to 1.1265. But if the support of 1.1200 does not stand, it's probable that the price will fall to 1.1125 on the implementation of this figure.

Google shares continue to be affected by the negative movement of US indices as a result of the US-China trade war as the stock continues to decline and reached the level of support 1125.97 at the rate of decline Fibonacci 50% 

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

Stochastic is out of oversold areas and is currently giving a negative signal to return to it 

General direction of the movement: a downward trend 

Gold futures fluctuated in a tight range slipping towards the Asian session to see their rebound from April 11, capping the US dollar's decline, resuming its rally from 16 May to 2017 for the 8th session In 13 sessions according to the inverse relationship between them on the eve of developments and economic data expected Tuesday by the US economy, the largest economy in the world, which includes the talk of members of the Federal Open Market Committee.   

Gold futures for June delivery fell 0.08% to currently trade at $ 1,299.90 per ounce, showing a five-week rebound from the top of the day at $ 1,300.80 per ounce. % To 97.31, resuming its recovery from the upside in two years compared to the opening at 97.32. 

Otherwise, we followed at the weekend US President Donald Trump said he had a feeling that trade talks with China would be "very successful", following the extensive losses on US stock indexes, which exceeded two percent on Monday as investors shifted liquidity to safe havens and Gold, which yesterday saw the best daily performance in three months after China announced its intention to increase tariffs on its imports of US goods estimated at $ 60 billion to 25% from 10% by early June. 

  Beijing's decision to respond to Washington's trade protectionism reflected the escalating trade war between China, the world's largest mineral consumer, and the United States, which last Friday lifted tariffs on Chinese goods and goods worth $ 200 billion to 25 percent from 10 percent. Which is subject to a customs duty of 25% to about $ 250 billion, amid the threat of the US administration Trump recently imposed 25% customs duties on other Chinese goods estimated at $ 325 billion "soon. 

The price of gold has reached 1302.60 and is now nearing it, accompanied by Stochastic entering the overbought areas, which may pressure the price to provide negative trading in the coming sessions, while noting that SMA 50 supports the price from the bottom, which makes us prefer to stop neutrality Until we get a clearer signal for the next direction, by breaching the mentioned resistance or breaking support 1288.00.   

The breach of the resistance 1302.60 will open the way for gold gains to extend and regain the main upside direction, where the next target resides at 1326.00, while breaching the support will press the price to return to the downside correction again to start the negative targets at 1275.30 and extend to 1253.20.   

The trading range for today is among the support at 1285.00 and resistance at 1320.00   

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 ninth session retreat in its 13th session from its lowest since May 30 of 2017 against the US dollar on the eve of economic developments and data expected Tuesday by the region's economies The euro and the US economy are the largest economy in the world.  

At 05:05 GMT, the EURUSD rose 0.16% to 1.1240, compared to the opening at 1.1222, after recording a high of 1.1241 and a low of 1.1220.   

The markets are looking for Germany, the largest economy in the euro zone, for the final reading of the consumer price index, which could reflect a stable 1.0% growth, unchanged from the previous March reading and 0.4% in February, before we see the Eurozone economies As well as the seasonally adjusted Industrial Production Index, which may reflect a widening decline to 0.3% versus 0.2% in February. 

This comes in conjunction with a statistical reading from the ZEW Economic Sentiment of Germany and the Euro-Zone economies as a whole, which may extend to 5.1 in Germany and to 5.0 in the Euro-Zone economies as a whole against 3.1 and 4.5 in April, The European Union said yesterday that it is preparing a list of US goods to be targeted by customs duties if the United States imposed a fee on imports of cars.   

On the other hand, investors are looking forward to the talk of Federal Reserve Bank of New York Chairman and Federal Open Market Committee member John Williams, who is expected to take part in a panel discussion entitled "The Past - Lessons from an Advanced International Monetary System" at the Swiss National Bank Conference And the International Monetary Fund in Zurich. 

This comes before we see the US economy reading the import price index, which may reflect the acceleration of growth to 0.7% compared to 0.6% in March, while the annual reading of the same index may show a rise of 0.3% against stability at zero levels, before we see the talk Expected to head the Kansas City Federal Reserve, St George, about the economy at the economic club in Minneapolis, Minnesota. 

The EUR / USD pair started to rebound after testing the 1.1250 level yesterday, with SMA 50 forming a strong resistance to positive price attempts, while Stochastic is beginning to provide a negative cross signal now.   

Therefore, these factors encourage us to continue with the bearishness, noting that the break of 1.1180 will facilitate the task of moving towards the levels of 1.1100 and 1.1000 which represent our main objectives following, which requires stability below 1.1250.   

The trading range for today is among the key support at 1.1140 and resistance at 1.1280   

The general trend for today is bearish 

The Australian dollar fluctuated in a narrowly bullish range during the Asian session to bounce back from 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 it. Australian economy is on the brink of economic developments and data expected Tuesday by the US economy, the largest economy in the world.   

At 02:26 am GMT, the AUDUSD rose 0.16% to 0.6955 compared to the opening levels of 0.6944, after reaching a high of 0.6959, while its lowest level in five months at 0.6940.   

We followed the Australian economy by reading the Australian National Bank of Business Confidence, which showed stability at zero levels against a contraction of 1 in March, while the same indicator of current conditions showed a contraction of 3 to 7, Later this week to reveal Australian labor market data and what the Australian parliamentary election will result next Saturday. 

On the other hand, investors are looking forward to the talk of Federal Reserve Bank of New York Chairman and Federal Open Market Committee member John Williams, who is expected to take part in a panel discussion entitled "The Past - Lessons from an Advanced International Monetary System" at the Swiss National Bank Conference And the International Monetary Fund in Zurich.   

This comes before we see the US economy reading the import price index, which may reflect the acceleration of growth to 0.7% compared to 0.6% in March, while the annual reading of the same index may show a rise of 0.3% against stability at zero levels, before we see the talk Expected to head the Kansas City Federal Reserve, St George, about the economy at the economic club in Minneapolis, Minnesota. 

AUDUSD resumed its negative trading near the target of 0.6905, and we expect the bearish wave to continue within the descending channels appearing in the image, with the next target reaching 0.6800.   

Therefore, the bearish bias will remain dominant during the coming sessions unless the price is able to breach the 0.7044 level and stabilize above it.   

The trading range for today is expected among the support at 0.6870 and the resistance at 0.7000   

The general trend for today is bearish 

The US dollar rose during the Asian session to see its rebound to the second session of its lowest since early February against the Japanese yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and on the eve of developments and economic data expected Tuesday by the US economy largest economy In the world.   

At 06:22 GMT, the USDJPY rose 0.25% to 109.57 from the opening levels of 109.30, after reaching a high of 109.71 and a low of 109.15.   

On the Japanese economy, we saw the annual reading of the Bank lending index, which showed growth accelerated to 2.4% from the previous March and 2.3%, before we saw the reading of the current account, which showed the surplus to the value of 2.85 trillion yen from 2.68 trillion yen in February, below expectations that the surplus would widen to 3.00 trillion yen. 

In the same context, the seasonally adjusted CPI showed a surplus shrinking to 1.27 trillion yen from 1.90 trillion yen in February, worse than the forecast of 1.171 trillion yen, before we saw the release of the Echo Watchers' Which showed shrinking to 45.3 versus 44.8 in March, below expectations of 45.9.  

This comes before we see the US economy reading the import price index, which may reflect the acceleration of growth to 0.7% compared to 0.6% in March, while the annual reading of the same index may show a rise of 0.3% against stability at zero levels, before we see the talk Expected to head the Kansas City Federal Reserve, St George, about the economy at the economic club in Minneapolis, Minnesota. 

The USDJPY broke the 109.44 level and settled below it, which supports our continued bearish outlook for the coming period and is open to our next target at 108.80.   

SMA 50 continues to support the suggested bearish wave, which will remain intact with stability below 110.08.   

The trading range for today is expected among the key support at 108.60 and the resistance at 109.70   

The general trend for today is bearish 

AUDUSD

The pair remains under pressure amid the escalating trade crisis between Washington and Beijing. If this situation persists, the pair will continue to fall smoothly.

The price is below the middle Bollinger band, at the level of SMA 5, but still below SMA 14. The relative strength index RSI is below the level of 50% and moves horizontally. Stoch grow.

Trading recommendations:

If the price holds below the level of 0.6965, but at the same time drops below the 0.6945 mark, we consider it possible to sell it with a local target of 0.6900.