Analytic reviews

Google shares continue to trade within the rising channel that has been moving in since the beginning of this year and is approaching the summit formed since March.

Where the price managed to breach the resistance 1254.18 and close above it, which is the level of the double summit formed last September.

The moving averages give price stability to the upside as it moves below it in a bullish order of 7-20-50, respectively.

The Stochastic is giving negative signals as it moves within the overbought area and therefore leaving the region may lead to correction in the price movement.

Range of motion between support 1210.00 and resistance: 1320.00.

The US dollar fluctuated in a narrow range inclined during the Asian session to see its rebound to its second lowest session since 11 April against the Japanese Yen amid a lack of economic data this week by the Japanese economy in the shadow of the longest holiday in Japan's history and after the inauguration of the Crown Prince Japan's Naruhito is the ruler of Japan and on the eve of economic developments and data expected Wednesday by the US economy, the largest economy in the world in conjunction with the proceedings of the meeting of the Federal Open Market Committee in Washington.

At 0610 GMT, the greenback was up 0.05% at 111.48 from the opening level at 111.42, after reaching a high of 111.50 and a low of 111.38.

US investors are eyeing the release of preliminary data for the labor market, with the reading of the Change in Private Sector Index, which may reflect the acceleration of job creation to 181,000 jobs, up from 129,000 in March. The monthly report of non-agricultural jobs and unemployment rates in addition to the average income per hour for the last month.

The markets are also looking for the final reading of Markit Industrial PMI by the United States, which may reflect the stability of the expansion at 52.4, unchanged from the previous reading of the previous month and the previous reading for March, before the disclosure of the index of the Institute of Industrial Supplies and The contraction may extend to 55.0 versus 55.3 in March.

To the decisions and directions expected by the Federal Open Market Committee after the expiration of its meeting which began yesterday and ends at 6:00 pm GMT amid expectations that monetary policy makers will keep the Federal Reserve rates on short-term reference rates between 2.25% and 2. 50% and work to reduce the reduction of bond buybacks before freezing them by September.

It is also expected to see after the expiration of the Federal Committee meeting and the disclosure of the monetary policy statement and the Committee's decision on the federal funds interest by about half an hour The events of the press conference of the Governor of the Federal Reserve Jerome Powell, who noted earlier that the Committee will be patient about raising interest rates in the coming period And that it would closely watch the economic developments of the world's largest economy and be affected by external challenges.

Technical Analysis

The USD / JPY pair is trading negative to gradually creep towards our main target at 110.86. Stochastic is beginning to lose its positive momentum gradually to support expectations of a continuation of the downside movement in the coming sessions, noting that breaking this level will extend the downside wave to 110.08.

SMA 50 supports bearish expectations, which requires stability to remain below 112.14.

The trading range for today is expected among the support at 110.80 and the resistance at 112.00

The general trend for today is bearish.

The Australian dollar rose in Asian trading session to return to its lowest level since January 3 against the US dollar following economic data from the Australian economy and on the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world.

At 2:18 am GMT, the AUDUSD rose 0.10% to 0.7051, compared to the opening levels of 0.7043, after recording a high of 0.7055 and a low of 0.7035.

US investors are eyeing the release of preliminary data for the labor market, with the reading of the Change in Private Sector Index, which may reflect the acceleration of job creation to 181,000 jobs, up from 129,000 in March. The monthly report of non-agricultural jobs and unemployment rates in addition to the average income per hour for the last month.

The markets are also looking for the final reading of Markit Industrial PMI by the United States, which may reflect the stability of the expansion at 52.4, unchanged from the previous reading of the previous month and the previous reading for March, before the disclosure of the index of the Institute of Industrial Supplies and The contraction may extend to 55.0 versus 55.3 in March.

To the decisions and directions expected by the Federal Open Market Committee after the expiration of its meeting which began yesterday and ends at 6:00 pm GMT amid expectations that monetary policy makers will keep the Federal Reserve rates on short-term reference rates between 2.25% and 2. 50% and work to reduce the reduction of bond buybacks before freezing them by September.

It is also expected to see after the expiration of the Federal Committee meeting and the disclosure of the monetary policy statement and the Committee's decision on the federal funds interest by about half an hour The events of the press conference of the Governor of the Federal Reserve Jerome Powell, who noted earlier that the Committee will be patient about raising interest rates in the coming period And that it would closely watch the economic developments of the world's largest economy and be affected by external challenges.

Technical Analysis

The AUDUSD is showing more volatility around the 0.7044 level, and the pair is still trading between 0.7135 and 0.7135, which keeps us neutral so far, noting that the price needs to break through one of these levels to define its next targets more clearly.

We note that breaking this support will press the price to resume the bearish wave targeting 0.6800 as the next major station, while breaching the resistance will lead the price to gain gains of 0.7250 in the near term.

The trading range for today is among the key support at 0.6980 and resistance at 0.7120

The expected general trend for today: neutral

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its fourth straight session rebound from its May 30 low of 2017 against the US dollar amid tight economic data by Eurozone economies amid Labor Day holiday there And on the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world.

At 04:46 GMT, the EURUSD rose 0.02% to 1.1217, compared to the opening at 1.1215, after the pair reached a high of 1.1220 and a low of 1.1211.

US investors are eyeing the release of preliminary data for the labor market, with the reading of the Change in Private Sector Index, which may reflect the acceleration of job creation to 181,000 jobs, up from 129,000 in March. The monthly report of non-agricultural jobs and unemployment rates in addition to the average income per hour for the last month.

The markets are also looking for the final reading of Markit Industrial PMI by the United States, which may reflect the stability of the expansion at 52.4, unchanged from the previous reading of the previous month and the previous reading for March, before the disclosure of the index of the Institute of Industrial Supplies and The contraction may extend to 55.0 versus 55.3 in March.

To the decisions and directions expected by the Federal Open Market Committee after the expiration of its meeting which began yesterday and ends at 6:00 pm GMT amid expectations that monetary policy makers will keep the Federal Reserve rates on short-term reference rates between 2.25% and 2. 50% and work to reduce the reduction of bond buybacks before freezing them by September.

It is also expected to see after the expiration of the Federal Committee meeting and the disclosure of the monetary policy statement and the Committee's decision on the federal funds interest by about half an hour The events of the press conference of the Governor of the Federal Reserve Jerome Powell, who noted earlier that the Committee will be patient about raising interest rates in the coming period And that it would closely watch the economic developments of the world's largest economy and be affected by external challenges.

Technical Analysis

The EUR / USD pair has stabilized above 1.1180, but remains below the most important resistance at 1.1250, keeping the downside scenario intact so far, supported by the negative momentum formed by SMA 50, along with the negativity of Stochastic for positive momentum, Main.

We note that a break of 1.1250 will stop the expected decline and push the price to achieve positive targets starting at 1.1320 and extending to 1.1443.

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

Gold futures rallied during the Asian session to rebound to a fourth session in six sessions from its lowest since December 26 as the US dollar index fell for the third consecutive session from its highest since May 16, 2017 according to the inverse relationship After the economic developments and data that followed the Chinese economy, the largest consumer of metals globally and on the threshold of developments and economic data expected Tuesday by the US economy, the largest economy in the world.

Gold futures for June delivery rose 0.24% to currently trade at $ 1,284.80 an ounce, resuming a five-month low from the opening at $ 1,281.90 per ounce, amid a drop in the dollar index. The US Dollar was 0.05% to 97.81, showing a continuation of its bounce from the upside in nearly two years compared to the opening at 97.85.

We have followed the China Logistics and Procurement Federation (CFLP) survey of the Manufacturing and Service Purchasing Managers' Indexes for the world's second-largest economy and the second largest industrialized nation after the United States, which reported a contraction of the industrial sector to 50.1 from 50.5 in March, In contrast to expectations at 50.7, and the service sector shrank to 54.3 versus 54.8, well below expectations of 55.0.

On the other hand, investors are waiting for the US economy to read the Labor Cost Index, which may reflect a stable 0.7% growth, unchanged from the fourth quarter, before we see housing market data released with the S & P House Price Index May show growth accelerating to 0.2% from 0.1% in February, and the same year's annual reading showed growth accelerating to 3.7% vs. 3.6%.

Leading to the Chicago PMI reading, which could extend to 59.1 vs. 58.7 in March, before we see the Existing Home Sales reading, which may show a 1.1% rise from 1.0% in February, Reading consumer confidence, which could rise to 126.2 versus 124.1 in March.

This comes on the eve of the opening of the FOMC meeting in late April and early May amid expectations that Fed monetary policy makers will keep short-term benchmark interest rates at between 2.25% and 2.50% and work to reduce Cut bond purchases before they are frozen by September.

It is expected to see after the meeting of the Federal Committee, which is held today and Wednesday in Washington, the press conference of the Governor of the Federal Reserve Jerome Powell, who recently said that the Committee will be patient about raising the rate of federal funds in the coming period, before the Committee retreat last month of its expectations To raise interest this year while maintaining its expectations of raising it once next year.

Standard Chartered's experts have recently forecast that gold prices will rise again to last year's high of $ 1,365 an ounce, as prices close to peak selling and falling to the lowest level this year recently, amid the statement that one of the main assumptions that The price recovery may support the Federal Reserve's adherence to the 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.

Technical Analysis

Gold is trading positively today after the SMA 50 test yesterday, so that the bullish scenario remains effective over the intraday basis, noting that our main objective is to test the 1302.60 level before determining the fate of the next short term trend.

The breach of the target will confirm the resumption of the main upside direction again, extending the positive targets around 1320.00 and then 1346.70, while breaching 1275.30 will stop the expected rise and press the price to return to the corrective correction.

The trading range for today is expected among the support at 1275.30 and the resistance at 1302.60

The general trend for today is bullish

Google shares continue to trade within the rising channel that has been moving in since the beginning of this year as it managed to break through the summit formed since March.

The price broke to resistance 1254.18, a double top level formed last September and continues to rise

The moving averages give price stability to the upside as it moves below it in a bullish order of 7-20-50, respectively

The Stochastic continues to move within the overbought area, thus leaving the region may correct the price action

The US dollar fluctuated in a tight range slipping into the Asian session to see its rebound for the third session in five sessions since December 20th against the Japanese Yen amid the tight economic data this week by the Japanese economy in the shadow of the longest vacation in Japan's history To inaugurate Japanese Crown Prince Naruhito as Japan's ruler and on the eve of economic developments and data expected Tuesday by the US economy, the largest economy in the world.

At 05:53 GMT, the USDJPY dropped 0.10% to 111.54 compared with the opening levels at 111.65, after recording a low of 111.48 and a high of 111.69.

Investors are currently waiting for the US economy to read the Labor Cost Index, which may reflect a stable 0.7% growth, unchanged from the fourth quarter, before we see housing market data released with the S & P House Price Index Growth accelerated to 0.2% from 0.1% last February, and the same index showed accelerated growth to 3.7% versus 3.6%.

Leading to the Chicago PMI reading, which could extend to 59.1 vs. 58.7 in March, before we see the Existing Home Sales reading, which may show a 1.1% rise from 1.0% in February, Reading consumer confidence, which could rise to 126.2 versus 124.1 in March.

This comes on the eve of the opening of the FOMC meeting in late April and early May amid expectations that Fed monetary policymakers will keep short-term benchmark interest rates at between 2.25% and 2.50% and work to reduce Cut bond purchases before they are frozen by September.

Other than this, we have followed this week some reports that US President Donald Trump has said that Japanese Prime Minister Shinzo Abe told him that Tokyo plans to invest $ 40 billion in automobile factories within the US territory, stating that Japan buys from the US And that Washington urged Tokyo to abolish its tariffs on US agricultural products.

Technical Analysis

The USD / JPY pair resumed its negative trading after the SMA 50 test in the past sessions, consolidating expectations for a bearish intraday basis, awaiting a key test of 110.86.

Negative Stochastic supports the continuation of the downside bias, which will remain intact unless the breach of 112.14 is breached and the daily closing is above it.

The trading range for today is expected among the support at 110.80 and the resistance at 112.14

The general trend for today is bearish

The Australian dollar fell during the Asian session to see the continuation of the decline after the rise of three consecutive sessions of the lowest since January 3 against the US dollar following the economic data by the Australian economy and on the eve of developments and economic data expected Tuesday by the US economy larger World economy.

At 2:18 am GMT, the AUDUSD dropped 0.15% to 0.7040 compared to the opening levels of 0.7055, after recording a high of 0.7068, while a low of 0.7033.

As for the Australian economy, the index of private sector credit (monthly), which maintained the previous values, increased by 0.3%

Investors are currently waiting for the US economy to read the Labor Cost Index, which may reflect a stable 0.7% growth, unchanged from the fourth quarter, before we see housing market data released with the S & P House Price Index Growth accelerated to 0.2% from 0.1% last February, and the same index showed accelerated growth to 3.7% versus 3.6%.

Leading to the Chicago PMI reading, which could extend to 59.1 vs. 58.7 in March, before we see the Existing Home Sales reading, which may show a 1.1% rise from 1.0% in February, Reading consumer confidence, which could rise to 126.2 versus 124.1 in March.

This comes on the eve of the opening of the FOMC meeting in late April and early May amid expectations that Fed monetary policy makers will keep short-term benchmark interest rates at between 2.25% and 2.50% and work to reduce Cut bond purchases before they are frozen by September.

Technical Analysis

AUDUSD continues to fluctuate around the 0.7044 level. We note that there is a contradiction between Stochastic and SMA 50, which keeps us neutral until now, waiting to break the mentioned support or breaching 0.7135 resistance to determine the next target more precisely.

The break of support will press the price to resume the bearish trend with the next key target at 0.6800, while breaching the resistance will lead the price to gains starting at 0.7250.

The trading range for today is among the key support at 0.6970 and resistance at 0.7120

The expected general trend for today: neutral

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its rebound for a third consecutive session from its May 30, 2017 low against the US dollar on the brink of economic developments and data expected on Tuesday by Eurozone economies The US economy is the largest economy in the world.

At 05:12 GMT, the EURUSD rose 0.03% to 1.1189, compared to the opening at 1.1186, after the pair reached a high of 1.1193 and a low of 1.1179.

The markets are currently looking at the French economy, the region's second-largest economy, to reveal first-quarter growth data with the preliminary reading of the GDP index, which may reflect a stable growth of 0.3%, unchanged from the previous quarter, The index's annual growth accelerated to 1.1% versus 1.0% in the annual reading for the fourth quarter.

This comes before Germany's biggest economy is seeing the reading of the import price index, which may reflect a stability of 0.3%, unchanged from last February, while the annual reading of the same index may show that growth accelerated to 2.1% 1.6%, in conjunction with the disclosure of a statistical reading of the German consumer confidence index GFK, which may reflect the contraction of the breadth to the value of 10.3 compared to 10.4 in April.

France's inflation data may also be seen with the CPI reading, which may reflect a slower pace of growth to 0.3% versus 0.8% in March, in conjunction with the release of the French consumer spending index, which may reflect a 0.4% rise versus a drop 0.4% in February, and with the disclosure of the French treasury budget for last month.

To reveal the growth data for the fourth largest economy of the euro area Spain with the initial reading of the GDP index, which may reflect the stability of growth of 0.6%, not significantly changed from the fourth quarter, in conjunction with the release of Spain's preliminary annual CPI which may show accelerated growth To 1.5% versus 1.3% in the previous annual reading for March.

This comes ahead of the German Unemployment Change, which may show a contraction of 6K to 7K in March, ahead of the release of inflation data for Germany with the release of the Consumer Price Index preliminary reading, which may reflect a rapid growth rate of 0.5% vs. 0.4 In March, and Italy's unemployment reading, which may show a drop to 10.6% from 10.7% in February.

We may also see growth data for the whole eurozone as the GDP reading is released, which could reflect growth acceleration to 0.3% vs. 0.2% in the fourth quarter, while the annual reading of the index itself may show a 1.1% growth stability. Unemployment is also reading for the region, which could stabilize at 7.8%, unchanged from February.

To reveal the growth data for the third largest economy of the euro area Spain with the initial reading of the GDP index, which may reflect contraction of the contraction to 0.1% compared to 0.2% in the fourth quarter, following the preliminary reading of the CPI of Italy, which may show the stability of growth at 0.3%, unchanged from the previous reading for March.

On the other hand, investors are waiting for the US economy to read the Labor Cost Index, which may reflect a stable 0.7% growth, unchanged from the fourth quarter, before we see housing market data released with the S & P House Price Index May show acceleration of growth to 0.2% from 0.1% in February, and the same annualized reading showed growth accelerated to 3.7% versus 3.6%.

Leading to the Chicago PMI reading, which could extend to 59.1 vs. 58.7 in March, before we see the Existing Home Sales reading, which may show a 1.1% rise from 1.0% in February, Reading consumer confidence, which could rise to 126.2 versus 124.1 in March.

This comes on the eve of the opening of the FOMC meeting in late April and early May amid expectations that Fed monetary policy makers will keep short-term benchmark interest rates at between 2.25% and 2.50% and work to reduce Cut bond purchases before they are frozen by September.

It is expected to see after the meeting of the Federal Committee, which is held today and Wednesday in Washington, the press conference of the Governor of the Federal Reserve Jerome Powell, who recently said that the Committee will be patient about raising the rate of federal funds in the coming period, before the Committee retreat last month of its expectations To raise interest this year while maintaining its expectations of raising it once next year.

Technical Analysis

The EUR / USD pair is now trading positively above the 1.1180 level, where the price is positively affected by Stochastic, and is likely to test the most important resistance at 1.1250 before returning to the downside again.

In general, we continue to push the downside if the above mentioned resistance is not breached, as the SMA 50 continues to press the price negatively.

EURUSD

The pair met resistance on the level of 1.1190 against the background of the weak economic statistics data from Germany and France. If the price doesn’t pass this level, it may resume falling.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is crossing the level of 50% while moving downwards. Stoch are again reversing within the overbought territory.

Trading recommendations:

If the pair remains below 1.1190, sell it with a local target of 1.1100.