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Gold futures traded in a narrow range slipping towards the Asian session to stabilize near its lowest level in four months amid the rise of the dollar index, adding stability near the top in twenty-two months according to the inverse relationship between them on the eve of economic data expected on Wednesday from Before the Chinese economy, the world's largest consumer of metals, amid a lack of economic data from the US economy.

Gold futures for June delivery fell 0.22% to currently trade at $ 1,271.50 per ounce from the opening at $ 1,274.40 an ounce, with the US dollar index rising 0.08% to 97.67 compared to the opening at 97.60.

Investors are now eyeing the Chinese economy, the world's second-largest economy and the second-largest industrial nation after the United States to unveil March's leading index reading, hours after the People's Bank of China (CBB) The reserve requirement for Chinese banks, explaining that the data for the first quarter support doing so and will re-evaluate the economic conditions.

On the other hand, experts at Standard Chartered Bank expect gold prices to rise again to last year's highs of $ 1,365 an ounce, as prices nearing the peak and falling to its lowest level this year, amid speculation that one of the main assumptions The price recovery may support the Fed's adherence to the patience policy and the suspension of monetary tightening plans and 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:

The price of gold offers more negative trading below the 1275.30 level, bolstering expectations that the bearishness will continue over the short and medium term, influenced by the previously completed triangular triangle pattern, which supports the chances of heading towards the next corrective targets of 1253.20 and 1231.10.

SMA 50 continues to support the suggested bearish wave, which requires stability to remain below 1275.30 and 1282.00.

The trading range for today is among the support at 1253.20 and resistance at 1282.00

The general trend for today is bearish

The single currency of the European Union region fell during the Asian session against the US dollar on the eve of economic developments and data expected on Wednesday by the euro zone economies and amid the lack of economic data by the US economy, the world's largest economy.

At 04:21 GMT, the EURUSD dropped 0.04% to 1.1252, compared to the opening at 1.1257, after the pair hit a session low of 1.1245, while reaching a high of 1.1261.

Markets in the German economy, the largest economy in the euro zone, are expecting the IFO Business Climate Index to rise to 99.9 from 99.6 in March, and the same indicator of expectations may show a widening of 96.0 versus 95.6, The reading of the same indicator of current assessments shrank to 103.6 versus 103.8 in March, to reveal the ECB's monthly report.

Technical analysis:

The EURUSD extended negative trading yesterday to test the pivotal support 1.1180, which is one of the keys to the next trend along with resistance 1.1255, and as noted in our recent reports, the price needs to break through one of these levels to define its next targets more precisely, making us continue to neutralize so far .

The contrast between positive Stochastic and SMA 50 offers another reason for neutrality, noting that the continuation of the negative pressure and the break of 1.1180 will push the pair to resume the bearish trend in the short and medium term to target 1.1100 as a next stop, while breaching 1.1255 will lead the price to start recovery attempts and instantaneous gains It starts at 1.1335 and extends to 1.1443.

The trading range for today is expected among the 1.1120 support and the 1.1300 resistance

The expected general trend for today: neutral

The Australian dollar fell significantly during the Asian session, its lowest since March 11 against the US dollar following the economic developments and data that followed the Australian economy and the lack of economic data on Wednesday by the US economy, the largest economy in the world.

At 02:02 GMT, the AUDUSD fell 0.84% ​​to 0.7042 compared to the opening levels of 0.7102, after reaching its lowest level in six weeks at 0.7036, while the highest of the session at 0.7103.

We followed the Australian economy to release inflation data with the release of the consumer price index, which showed stability at zero levels versus 0.5% growth in the fourth quarter, in contrast to expectations of slowing growth to 0.2%, while the core reading of the consumer price index slowed growth To 0.3% from the previous quarter's reading and expectations at 0.4%.

In the same context, the annual reading of the consumer price index showed that growth slowed to 1.3% from 1.8% in the fourth quarter, worse than analysts' forecasts of a slowdown of 1.5%. The core annual reading of the consumer price index showed growth slowing to 1.6% versus 1.8% In the fourth quarter, also worse than analysts' forecasts of a slowdown of 1.7%.

Technical analysis:

The AUDUSD is trading in negative territory today, targeting the pivotal support level of 0.7044 and moving below it now, which signals the direction of the pair to achieve further bearishness over the coming period, but we need to get a daily close below the mentioned level to confirm the shift towards the downside.

Therefore, we prefer to stop the neutral temporarily until the price confirms the closing of the daily candle for the level of 0.7044, where stability below it will push the price towards 0.6925 as a next negative station, while rising above it again will reactivate the scenario of the upward trend, which is the next main target at 0.7250.

The trading range for today is expected among the support at 0.6950 and the resistance at 0.7100

The expected general trend for today: neutral

There is no new movement in Aeroflot as the stock continues to move within the side track between the 95.78 support and the 99.94 resistance within the sideways movement

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

Stochastic is in a bearish direction and reached the oversold area. Thus we can see a test of support 95.78 before the indicator comes out of the region

General direction of movement: neutral

AUDUSD

The pair is trading within a short-term uptrend. However, as the RBA is expected to hike interest rates, or even to reduce them against the backdrop of slower inflation growth, the pair is moving down to the lower end of this trend.

The price is on the lower Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving down. Stoch are in the oversold territory.

Trading recommendations:

Sell the pair as it’s likely to drop to 0.7100 and then to 0.7060.

The US dollar fluctuated in a tight range slipping towards the Asian session to see its rebound for the third session in five sessions of its highest since December 20 against the Japanese yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and on the brink of developments And economic data expected Tuesday by the US economy, the largest economy in the world.

At 05:45 GMT, the US dollar fell against the Japanese yen by 0.03% to 111.91 compared to the opening levels at 111.94, after hitting the lowest level since April 12 at 111.65, while achieving the highest during Trading session at 111.85.

We followed the Japanese economy to release inflation data with the core CPI reading, which showed growth acceleration to 0.5% in line with expectations versus 0.4% in February, and comes hours before the BoJ meeting on Thursday which may During which the central bank's monetary policymakers will maintain zero interest rates and move forward with stimulus policies.

On the other hand, markets are looking to release US housing data, with the Home Price Index reading, which could reflect a 0.4% growth in February, while the New Home Sales Index may show a 3.0% drop to 647K versus 4.9% At 667,000 in February, in conjunction with the Chicago PMI reading, which may show a 10-month widening stability.

Technical analysis:

The USD / JPY pair opened today with a significant bearish trend to move below SMA 50, bolstering expectations of a continuation of the expected bearish trend over intraday basis targeting 111.50 and then 110.86.

We note that the break of the last level will extend the short term bearish wave to reach 110.08 as the next target, while the breach of 112.14 key to return to resume the main trend bullish again.

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

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 reached resistance 1254.18, a double top level 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: 1271.34

Gold futures traded in a tight range slipping towards the Asian session, its lowest since April 18, when its lowest since December 27, amid the positive stability of the US dollar index according to the opposite relationship on the eve of developments and data Economic outlook on Tuesday by the US economy, the world's largest economy.

At 03:09 am GMT, gold futures for June delivery fell 0.01% to currently trade at $ 1,276.80 per ounce from the opening at $ 1,277.00 an ounce, with the US dollar rising 0.02% to 97.30 compared to the opening at 97.28.

Investors are currently waiting for the US economy to release housing data, with the Home Price Index reading, which could reflect a 0.4% growth in stability, unchanged from last January. Rose from 3.0% to 647K versus 4.9% at 667K last February, as the Chicago PMI data showed that the stability of the spread could be 10% unchanged from March

Technical analysis:

Gold has rebounded after re-testing the broken neckline of the Tri-Triad pattern to start the pressure at 1275.30 now, which supports our continued bearish outlook for the coming period, supported by the negative pressure that SMA continues to offer.

Our next target is at 1253.20, and breaking it will push the price to 1231.10 directly, noting that a breach of 1282.00 will stop the expected decline and push the price to test the level of 1302.60 before any new negative attempt.

The trading range for today is among the support at 1260.00 and resistance at 1285.00

The general trend for today is bearish

The single currency of the European Union region fluctuated in a narrowly bearish range during the Asian session against the US dollar on the eve of economic developments and data expected on Tuesday by the Eurozone economies and the US economy, the world's largest economy.

At 04:21 GMT, the EURUSD dropped 0.04% to 1.1252, compared to the opening at 1.1257, after the pair hit a session low of 1.1245 while reaching a high of 1.1261.

Investors are currently eyeing the economy of the euro-zone as a whole to release the consumer confidence index, which may reflect a deflationary stability of about 7 unchanged from last March, before we see the US economy disclosing housing market data With the reading of the house price index, which may reflect a stable growth of 0.4%, unchanged from January.

This comes before the world's largest economy is also seeing a reading of the new home sales index, which could show a 3.0% drop to 647,000 homes versus a 4.9% rise at 667,000 in February, as the Chicago Purchasing Managers Index Which may show the stability of the spread at a value of 10 unchanged from what it was in March.

Technical analysis:

The EUR / USD pair continues to fluctuate around 1.1255, and trading is still weak overall, which keeps us neutral until the price confirms the breach of one of the keys to the next direction of support 1.1180 and resistance 1.1255, noting that the contrast between the positive stochastic and negative moving average 50 offers another reason for impartiality.

We will note that breaching the above-mentioned resistance will push the price to instantaneous gains starting at 1.1345 and extending to 1.1443 while breaching the support will press the price to resume the main downside move with the next key target at 1.1100.

The trading range for today is expected among the key support at 1.1160 and resistance at 1.1345

The expected general trend for today: neutral

The Australian dollar fluctuated in a tight range slipping towards the Asian session to see its fifth session rebound since February 21 against the US dollar amid tight economic data by the economy and on the brink of economic developments and data expected Tuesday by the US economy's largest economy In the world.

At 02:28 GMT, the AUDUSD dropped 0.17% to 0.7117, compared to the opening levels of 0.7131, after reaching a low of 0.7115, while recording a high of 0.7138

On the other hand, markets are looking to release US housing data, with the Home Price Index reading, which could reflect a 0.4% growth in February, while the New Home Sales Index may show a 3.0% drop to 647K versus 4.9% To 667,000 in February, in conjunction with the Chicago PMI reading, which may show a 10-month widening stability this month

Technical analysis:

The AUDUSD is showing a slight downside to the support of the bullish intraday channel, noting that SMA 50 is attempting to form support in front of negative attempts while Stochastic is entering overbought areas, posing a positive incentive that is expected to help push the price higher than new.

Therefore, we maintain our bullish trend for stability above 0.7090 and above 0.7044, noting that our next main target resides at 0.7250.

The trading range for today is expected among the support at 0.7080 and the resistance at 0.7200

The general trend for today is bullish