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Sberbank fell at the end of last week to close trading near support. 

The support level stood at 224.79 in front of the price and prevented it from falling further 

The move is within a bullish path with a positive effect from SMA 50 as it moves below the price and forms support levels while the SMA 20 is a resistance level 

Stochastic reached the oversold area and came out of it, indicating a continuation of the correction towards the lower limit of the ascending channel in which the price moves. 

The expected movement between support 219.12.00 and resistance 247.20 

General trend of the movement: upward 

 Gold futures fluctuated in a tight range slipping towards the Asian session as the US dollar index rose, showing a rebound to its second session since April 18, according to the inverse correlation between the two economic data by the US economy, the world's largest economy. Market pricing for Beijing's response to the trade sentiment that Washington adopted at the end of last week. 

  Gold futures for June delivery fell 0.18% to currently trade at $ 1,284.50 per ounce from $ 1.288.30 an ounce, while the US dollar index rose 0.02% to 97.33 compared to the opening at 97.30. . 

Investors are looking forward to the talk of Federal Reserve Vice President and Federal Open Market Committee member Richard Clarda as he makes opening remarks at the event hosted by the Federal Reserve Bank, and is looking for any hints that monetary policymakers are likely to cut interest rates on federal funds To stimulate the economy in the face of potential risks from trade protectionism.   

In another context, we went on Sunday, White House economic adviser Larry Kudlo said in an interview with Fox News that US officials expect the Chinese to avenge the lifting of tariffs by the administration of US President Donald Trump on goods and goods worth $ 200 billion to 25% from 10% last Friday, bringing China's customs duties 25% to about $ 250 billion.   

On the other hand, last Thursday, South Africa's statistics agency reported that gold production at the world's seventh-largest gold producer, the first until 2006, declined in March for the eighth straight month, down 21% from the previous year In February, down 18% from the same month in 2018.   

South Africa's statistics agency said the decline in gold output was due to a strike by members of the Association of Miners and the Construction Union, which began in November and ended in mid-April, Gold, which is the largest producer of minerals from local mines in South Africa.   

Experts at Standard Chartered Bank have recently expressed their expectation that gold prices will rise once again to last year's high of $ 1,365 an ounce, as prices close to oversold and retreated to the lowest level this year recently, amid reports that one of the main assumptions Which could support price recovery is the Federal Reserve's adherence to patience policy and its suspension of plans to tighten monetary policy and raise interest rates.   

According to experts, the default is based on the Federal Reserve's readiness for a possible recession by 2021, which could support the performance of safe haven gold, as they point to a surge in global central bank purchases and recent high demand for gold by China and India, By the price cycle, accordingly they expect prices to rise to $ 1,365 an ounce and that the average price next year is $ 1,375 an ounce. 

The price of gold fluctuates calmly to the near resistance line currently at 1291.00, and the price needs to breach this level to reinforce expectations for the continuation of the bullish intraday direction targeting 1302.60 as the next major station. 

 From here, we continue to favor the upside with the support of the SMA 50, noting that stability above 1275.30 is a key condition for achieving the awaited targets. 

 The trading range for today is among the support at 1275.00 and resistance at 1302.00 

 The general trend for today is bullish 

The single currency of the European Union region fluctuated in a narrowly bearish range during the Asian session against the US dollar amid a lack of economic data earlier this week by Eurozone economies and the US economy, the world's largest economy. 

At 04:56 GMT, the EURUSD fell 0.09% to 1.1229, compared to the opening at 1.1238, after reaching the lowest level at 1.1228, while reaching a high of 1.1242, Ended last week at 1.1233 before opening this week on a bullish price gap. 

Investors are looking forward to the opening remarks by Federal Reserve Vice Governor and Federal Open Market Committee member Richard Clarda at the event hosted by the Federal Reserve Bank. Otherwise, we followed last Friday, US Commerce Secretary Wilbur Ross reported that the US administration's decision on tariffs on European cars Will be announced on 18 May. 

The EUR / USD pair continues to test the resistance at 1.1250 and maintains its stability below it. SMA 50 supports the strength of this resistance, while Stochastic is approaching the oversold areas. 

  Therefore, these factors encourage us to continue with the bearishness for the coming period, targeting 1.1180 then 1.1100 initially, while the breach of 1.1250 is the key to the start of recovery attempts reaching its key targets to 1.1443. 

  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 tight range slipping towards the greenback during the Asian session against the US dollar following developments and economic data that followed Monday on the Australian economy and the lack of economic data earlier this week by the US economy, the largest economy in the world. 

 At 02:08 GMT, the AUDUSD dropped 0.24% to 0.6982, compared to the opening levels of 0.6999, after reaching a low of 0.6978, while the highest at 0.7006. The pair ended last week at 0.7002 before starting the week with a bearish price gap. 

 We followed the Australian economy to release housing data with the Home Loan Index reading showing a decline of 2.5% compared to a 1.4% rise in February, contrary to expectations that accelerated growth to 2.2%. 

 The markets are looking forward to what the Reserve Bank of Australia's Assistant Governor of the Reserve Bank of Australia, Jay DiBill, will discuss as part of his panel discussion on "The end of Libor and its impact on Australian financial markets" at the Australian Central Bank in Sydney. 

On the other hand, investors are looking forward to what Federal Reserve Vice President and Federal Open Market Committee member Richard Clarda will speak with opening remarks at the event hosted by the Federal Reserve Bank of Boston 

The narrow range continues to dominate AUDUSD, which remains steady below 0.7044, keeping the bearish scenario intact, supported by SMA 50, with our first target at 0.6905. 

The trading range for today is among the key support at 0.6920 and resistance at 0.7044   

The general trend for today is bearish 

NZDUSD

The pair remains under pressure in the wake of two negative factors. On the one hand, this is the decline in the RBNZ interest rates, which occurred last week. On the other hand, this is the increasing trade tensions between the United States and China.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and slowly decreases. Stoch point to weaker growth.

Trading recommendations:

A price drop below 0.6575 could be the basis for a local decline of the pair to 0.6500.

The US dollar fell during the Asian session to see its seventh rebound in 11 sessions of its highest since December 20 against the Japanese yen following developments and economic data followed Wednesday by the Japanese economy, the third largest economy in the world and on the threshold of a recent Deputy Governor of the Bank Federal Reserve and a member of the Federal Open Market Committee of Ireland's Lee Brenard.

At 05:57 GMT, the US dollar was down 0.21% at 110.03 from 110.26, after hitting its lowest level since March 25 at 109.90 when the pair tested its lowest. Since the eighth of February last, while the highest during the session at 110.29.

We followed the Bank of Japan's release of the minutes of the BoJ meeting held on April 25, in which the central bank's monetary policy makers agreed to keep interest rates at 0.10% and move on with stimulus policies and monetary easing in their efforts to reach To the inflation target of two percent and support the performance of the world's third-largest economy.

This coincided with the Bank of Japan's annual reading of the monetary base index, which showed a slower pace of growth to 3.1% versus 3.8% in March, exceeding forecasts that the growth rate slowed to 3.6%. The Bank of Japan Has been using this indicator as its main operational target for the cash base scheme since April 2013.

On the other hand, markets are currently waiting for Federal Open Market Committee member Brendard to speak at a community hearing hosted by the Richmond Fed, one week after the Fed decided to keep rates between 2.25% and 2.50% , And to press ahead with a reduction in bond buybacks before they are frozen by September.

Technical Analysis

The USD / JPY pair traded with a strong negative yesterday to reach the key target of 110.08, and the price is under continuous negative pressure coming from the 50 MA to support the break of the mentioned level and the extension of the downside wave to 109.44 as the next major station.

From here, the bearish trend will remain dominant during the coming sessions provided that the price remains steady below 110.86.

The trading range for today is expected among the support at 109.40 and the resistance at 110.86

The general trend for today is bearish

Gold futures traded in a narrowly bullish range during the Asian session to see their rebound to its fifth straight session since December 24 as the dollar index fell to a sixth session in nine sessions from its highest since May 16, 2017 According to the inverse relationship between them following developments and economic data that followed Wednesday on the Chinese economy, the world's largest consumer of metals, and on the threshold of the talk of Deputy Governor of the Federal Reserve, Leil Brinard in Richmond.

Gold futures for June delivery rose 0.15% to currently trade at $ 1,287.60 an ounce, showing an annualized low of $ 1.285.60 per ounce, amid a decline in the US Dollar 0.11 index. % To 97.45 levels, resuming its bounce from the top in two years compared to the opening at 97.57.

We followed the General Administration of Customs' release of China's reading of the trade balance index, which showed that the surplus shrank to 94 billion yuan, or 13.8 billion US dollars, compared to 221 billion yuan, or 32.6 billion dollars in March, worse than expected. The surplus widened to 235 billion yuan, or $ 33.7 billion, as export growth slowed and imports rose last month.

On the other hand, markets are currently waiting for Federal Open Market Committee member L. Bernhard to speak at a community hearing hosted by the Richmond Federal Reserve Bank, one week after the Fed decided to keep interest rates between 2.25% and 2.50% To cut back on bond purchases before they are frozen by September.

Technical Analysis

Gold broke through the 1282.00 level and settled above it to activate the bullish intraday scenario targeting 1302.60 mainly.

Moving above SMA 50 supports expectations for the upside, noting that a break below 1282.00 and 1275.30 will stop the suggested bullish trend and put the price under the corrective correction again.

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

The general trend for today is bullish

The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session to see its sixth session rebound in nine sessions from its lowest level since May 30 of 2017 against the US dollar on the eve of developments and economic data expected Wednesday by Eurozone economies The Deputy Governor of the Federal Reserve and a member of the Federal Open Market Committee of Ireland's Ely Bernhard.

At 05:25 am GMT, the EURUSD rose 0.12% to 1.1204 compared to the opening at 1.1191, after the pair reached a high of 1.1207 and a low of 1.1189.

The markets are currently looking ahead to Germany's biggest economy for the seasonally adjusted Industrial Production Index, which could reflect a 0.5% drop from 0.7% in February, while the annual reading may show a 2.7% drop to 0.4%. To see the ECB's monetary policy meeting.

On the other hand, markets are currently waiting for Federal Open Market Committee member Brendard to speak at a community hearing hosted by the Richmond Fed, one week after the Fed decided to keep rates between 2.25% and 2.50% , And to press ahead with a reduction in bond buybacks before they are frozen by September.

Technical Analysis

The EURUSD continues to fluctuate around the 1.1200 level, and some slight bearishness is now appearing, awaiting further downside to the 1.1100 target, which is our primary target, to keep the downside move likely over the next sessions provided stability below 1.1250.

SMA 50 continues to support the suggested bearish wave, noting that exceeding the target will push the price towards 1.1000 as the next major station.

The trading range for today is expected between 1.1100 and 1.1260 support

The general trend for today is bearish

Cisco was out of the ascending channel it was moving in and started to fall to 52.89 support in a sideways trend below the 7-20 -50 moving averages

Which is moving above the price and pushing it further down

Stochastic is trying to exit the oversold area, so we can see a new price rise if we can exit this area.

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

Which is likely to have begun

The general trend of the movement is bearish

The Australian dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound for a third straight session since January 3 against the US dollar following the decisions and directions of monetary policy makers at the Reserve Bank of Australia on Tuesday and on the eve of a recent deputy governor Federal Reserve Board member and member of the Federal Open Market Committee of Elle Bernhard in Richmond.

At 02:46 GMT, the AUDUSD rose 0.13% to 0.7020 compared to the opening levels at 0.7010, after reaching a high of 0.7026, while the lowest at 0.6998.

Technical Analysis

AUDUSD is trading below 0.7044 after yesterday's test, keeping our bearish and intraday bearish outlook, which is supported by SMA 50, awaiting a move towards 0.6905 as the next major station.

Keep in mind that a break above 0.7044 and stability above it will push the pair to gains starting at 0.7110 and extending to 0.7250.

The trading range for today is expected among the support at 0.6950 and the resistance at 0.7044

The general trend for today is bearish