Analytic reviews

Amazon shares broke through the 1890.34 resistance and closed above it so the stock continues to rise

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

Stochastic in the overbought area and started out of it therefore we may see price correction and retest support 1890.34

The expected movement between the support 1765.27 and the resistance 2050.80

General direction of the movement: upward

EURUSD

The pair is trading below 1.1150. If today’s US GDP data is not weaker than predicted, the pair may pass this level. In the opposite scenario, it may continue the local decline.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is leaving the oversold territory. Stoch indicate an uptrend.

Trading recommendations:

Sell the pair as it’s growing, approximately from 1.1150 or after it goes below 1.1125 with a possible target of 1.1100 or even further down to 1.1085.a

EURUSD

The pair found support at the level of 1.1140 and may partially recover as short positions are being closed, but there’s still a possibility of further drop as the EUR rate is still weak, while investors are interested in dollar assets.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is reversing upwards within the oversold territory. Stoch indicate similar tendencies.

Trading recommendations:

Sell the pair as it’s growing from about 1.1190 of after it breaks the level of 1.1140 with a likely target of 1.1100.

There is no new change on Cisco as the price continues to rise and new historical levels are achieved

Positive momentum comes from moving averages that are still moving below the price in a bullish order of 7-20-50, respectively.

Stochastic gives bullish cross signals so we can see a new high.

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

The general trend of the movement is bullish

The Japanese yen rose slightly against most major currencies, especially the US dollar, as the focus on the central bank's monetary policy committee meeting continued this week.

At 05:45 GMT, the USDJPY dropped 0.25% to 111.84 from the opening levels at 112.16, after reaching a low of 111.82, while the highest at 112.25.

The markets are currently looking for the outcome of the BoJ meeting, during which the Bank of Japan monetary policymakers may keep interest rates at negative levels of 0.10% in conjunction with the disclosure of the monetary policy statement and ahead of the press conference of Japanese Governor Haruhpuku Kuroda in the Japanese capital Tokyo.

In another context, markets are looking forward to what Japanese Prime Minister Shinzo Abe will meet with EU leaders before heading to Washington for a summit with US President Donald Trump, during which he is expected to discuss a trade deal with Japan and the United States. To obtain an extension of the exemption of his country from falling under the penalty of economic sanctions on Iran and Iran's oil importers.

On the other hand, investors are looking ahead to the US economy to release the Durable Goods Orders, which account for about half of consumer spending, which accounts for more than two-thirds of US gross domestic product, which could reflect a rise of 0.7% from 0.3% in February. , And the core reading of the index itself may rise 0.2% from 0.1% in February.

This comes in conjunction with the reading of the index of requests for aid, which may show a rise of 7 thousand applications to 199 thousand applications during the last week last Saturday, as may show the reading of the index of continuing requests for a rise by 29 thousand applications to 1,682 thousand applications during the week in the past 13 This month, before we see the US Treasury Department's semi-annual report on international economic and exchange rates.

Technical analysis:

The USD / JPY pair attempted to break through the 112.14 level but started today with a bearish bias to settle below this level, keeping the bearish scenario intact so far and the price needs to break the 111.80 level to confirm the continuation of the bearish trend, which is next target at 110.08.

Stochastic is providing a negative cross signal now to support the bearish outlook while noting the importance of stability below 112.14 to maintain the suggested bearishness.

The trading range for today is among the key support at 111.00 and resistance at 112.50

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 third-lowest session since December 26 amid the decline of the US dollar index, rebounding to its second-highest session since May 16, 2017 according to Of the inverse relationship between them on the eve of the decisions and directions of the Bank of Japan as well as developments and economic data expected Thursday by the US economy, the largest economy in the world.

Gold futures for June delivery rose 0.03% to currently trade at $ 1,278.30 per ounce from the opening at $ 1,277.90 an ounce, with the US dollar index down 0.07% to 98.03 from the opening at 98.10. 

Gold prices closed higher today despite the dollar's rise against most major currencies and the positive atmosphere surrounding US-China trade negotiations.

US President Donald Trump said negotiations with the Chinese side were going well, expecting a trade deal soon.

Trump also stressed that the US economy is doing well and will seek help from the Supreme Constitutional Court if the Democratic Party attempts to remove him from the presidency.

Separately, the dollar index (against a number of major currencies) rose by 0.4% to 98 points by 17:50 GMT, hitting a 98-point high and a low of 97.5.

Gold rose June delivery by 0.5% to close at $ 1279.4 an ounce and recorded a day high of $ 1280.7 and a low of $ 1270.5.

Technical analysis:

Gold continues to fluctuate around 1275.30 and SMA 50 continues to pressure the pair negatively, noting that Stochastic is beginning to provide a negative cross signal now.

Therefore, these factors encourage us to continue with the bearishness in the coming period, with the following main targets at 1253.20 and 1231.10, while noting that breaching 1282.00 will stop the suggested decline and push the price to test the level of 1302.60 before determining the next destination more clearly.

The trading range for today is among the key support at 1253.20 and resistance at 1290.00

The general trend for today is bearish

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its rebound to its second low since June 22, 2017, against the US dollar amid a lack of economic data from the Euro-zone economies and developments and economic data expected today. Thursday by the US economy, the world's largest economy.

At 04:38 GMT, the EURUSD rose 0.02% to 1.1155, compared to the opening at 1.1153, after the pair reached a high of 1.1160 and a low of 1.1145.

Investors are eyeing the US economy for a reading of durable goods orders, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect a 0.7% rise from 0.3% in February. The core reading of the index itself rose 0.2% from 0.1% in February.

This comes in conjunction with the reading of the index of requests for aid, which may show a rise of 7 thousand applications to 199 thousand applications during the last week last Saturday, as may show the reading of the index of continuing requests for a rise by 29 thousand applications to 1,682 thousand applications during the week in the past 13 This month, before we see the US Treasury Department's semi-annual report on international economic and exchange rates.

Technical analysis:

The EUR / USD pair broke the 1.1180 level after closing the daily candlestick below it, which does the bearish scenario over the short term and intraday basis, noting that our next targets are 1.1100 and 1.1040.

Therefore, the bearish trend will be expected during the coming sessions, supported by the negative pressure formed by SMA 50, provided that the price remains stable below 1.1180 and 1.1245.

The trading range for today is expected between 1.1060 and 1.1245 support

The general trend for today is bearish

The Australian dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound from its lowest level since March 8 against the US dollar amid a lack of economic data by the Australian economy as it is absent due to Anzac holiday and on the eve of economic developments and data expected Thursday from Ahead of the US economy, the world's largest economy.

At 02:22 GMT, the AUDUSD rose 0.09% to 0.7021 compared to the opening levels of 0.7015, after reaching a high of 0.7022, while the seven-week low at 0.7004.

Investors are eyeing the US economy for a reading of durable goods orders, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which could reflect a 0.7% rise from 0.3% in February. The core reading of the index itself rose 0.2% from 0.1% in February.

This comes in conjunction with the reading of the index of requests for aid, which may show a rise of 7 thousand applications to 199 thousand applications during the last week last Saturday, as may show the reading of the index of continuing requests for a rise by 29 thousand applications to 1,682 thousand applications during the week in the past 13 This month, before we see the US Treasury Department's semi-annual report on international economic and exchange rates.

Technical analysis:

The AUDUSD ended yesterday's trading below 0.7044, to activate the bearish scenario over the short and short term, paving the way for achieving negative targets starting at 0.6915 and extending to 0.6800.

SMA 50 supports the expected decline, which will remain intact unless the levels of 0.7044 and 0.7110 are breached and stability above it.

The trading range for today is expected among the support at 0.6950 and the resistance at 0.7080

The general trend for today is bearish

USDCAD

The pair is in uptrend in anticipation of the final interest rates decision of the Bank of Canada. They are expected to remain the same, but the bank may reveal its intention to abandon the rate-hiking policy in the future or even hint at reduction of interest rates in the end of the year.

The price is above the upper Bollinger band, above SMA 5 and SMA 14. RSI is entering the overbought territory. Stoch are already there.

Trading recommendations:

Sell the pair as it breaks the level of 1.3455 with a likely growth to 1.3535.

The Japanese yen rose slightly against most major currencies, especially the US dollar, as the focus on the central bank's monetary policy committee meeting continued this week.

At 5:45 am GMT, the USDJPY dropped 0.03% to 111.80, compared to the opening levels at 111.83, after reaching a low of 111.73, while the highest at 111.96.

Technical analysis:

USD / JPY is fluctuating around SMA 50 after testing the support for the bullish intraday channel shown in the picture. As long as the price is below 112.14, our bearish outlook remains effective as breaching it will push the pair to resume the short term uptrend which is at 113.50 .

We note that a break of 111.75 will reinforce expectations of heading towards our main target for the suggested bearish wave at 110.08.

The trading range for today is among the key support at 111.00 and resistance at 112.40

The general trend for today is bearish