Analytic reviews

The Australian dollar rose against the US dollar during the Asian session to see its rebound for the second session in a row against the US dollar on the brink of economic developments and data expected Wednesday by the Australian economy and the US economy, the world's largest economy.

At 04:57 GMT, the Australian dollar was up 0.20% at 0.7195, compared to the opening at 0.7173, after reaching a high of 0.7205, while reaching a low of 0.7152.

Investors are waiting for the US economy to release the trade balance, which could reflect a widening deficit to $ 53.5 billion versus $ 51.1 billion in January, before we see the final reading of the Wholesale Inventories Index, which may show growth slowing to 0.4% Compared with 1.2% in the February preliminary reading and the previous January reading.

The Federal Open Market Committee (FOMC) and Federal Reserve Bank of England Chairman James Pollard on economics and monetary policy at the Hyman Minsky Conference, hosted by Cool College in New York, before we see the publication of the Beige Book report, FOMC Meeting.

Technical analysis:

AUDUSD is resuming its positive trading session to start the 0.7200 test and is getting positive support from SMA 50 so that the upside will continue to be effective over the coming period targeting 0.7250 initially.

Stability above 0.7125 is a precondition for the suggested bullish continuation, as breaching it might press the price to test areas of 0.7085 and 0.7044 before any new attempt to rise.

The trading range for today is among the key support at 0.7125 and resistance at 0.7270.

The general trend for today is bullish.

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 among the moving averages that are moving around the price and are pressuring it to land.

The SMA 50 continues to move above the price forming strong resistance to it.

Stochastic in a bullish direction and reached the saturation area of the purchase.

Therefore the indicators give conflicting signals for the movement so we commit to neutrality.

The general direction of movement is neutral.

USDCAD

The pair is under pressure in the wake of the publication of strong economic statistics from China, which have increased the growth of optimism in the markets and hopes to continue economic growth in the world. This pushed up oil prices, which has a beneficial effect on the commodity exchange rate - the Canadian dollar.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Movings give a signal to sell. RSI continues to move down after crossing the 50% level. Stoch are in the oversold territory and uninformative.

Trading recommendations:

Sell the pair with its possible drop to 1.3300 and then to 1.3280.

Gold futures fluctuated in a tight range slipping towards the Asian session to see their fifth session rebound since March 27 as the US dollar index rose against the back of the US Federal Open Market Committee (FOMC) Rosinger at Davidson College, North Carolina, on the eve of economic developments and data expected Tuesday by the US economy, the world's largest economy.

Gold futures for June delivery fell 0.20% to currently trade at $ 1,288.20 an ounce, showing a three-week rally from the opening at $ 1,290.80 per ounce. 0.01% to 96.94 compared to the opening at 96.93.

The markets are currently looking at the US economy, the world's largest industrial country, for the Industrial Production Index, which may reflect a rapid growth rate of 0.2% versus 0.1% in February, while the Energy Use Index showed growth accelerated to 79.2% versus 78.2 And before we see the housing index reading by the National Association of Home Builders, which may reflect a widening to 63 versus 62 in March.

Other than this, we followed earlier this week US President Donald Trump's criticism of the Fed again to abandon its expansionist policies and raise interest rates on federal funds, which weighed heavily on the performance of US equity indices. Trump expressed his Twitter through his official Twitter account that " If the Fed did its job correctly, which it did not do, the stock market would have gone up by 5-10,000 extra points.

Trump also noted that the US growth rate, in that case, would have exceeded 4% instead of 3% with almost no inflationary pressures. The Fed should not have abandoned expansionary policies and adopted monetary tightening in a pre-emptive move to counter a possible flare-up To inflationary pressures did not happen, especially with the decline in oil prices in the fourth quarter of last year.

In another context, we followed the Japanese Economy Minister Toshimitsu Motegi told a news conference with US Trade Representative Robert Laitzer yesterday in Washington that the trade exchange between his country and the United States "frank and good exchange," in response to the US President Trump said recently that he changed Satisfied about the trade surplus for Japan with his country reached a peak of $ 69 billion and that he wants to reach a bilateral agreement to deal with it.

US trade talks between Japan and the United States are expected to continue until Thursday, and markets are also eyeing the development of trade negotiations between the United States and China amid expectations of a deal to avoid a trade war. US Treasury Secretary Stephen Manuchen said yesterday that trade talks with China Central told him that the two sides still have a lot of work to complete.

Technical analysis:

The price of gold fluctuates near the neckline of the triangle top pattern shown above, and the price is under negative pressure coming from SMA 50, while stochastic loses its positive momentum gradually.

Therefore, these factors encourage us to continue with the bearishness over intraday and short term basis, noting that our first target is at 1275.30, as the above model supports the chances of extending the downside wave to 1253.20 and 1231.13 areas, The expected bearish wave depends on stability below 1302.60 and 1307.80.

The trading range for today is among the support at 1270.00 and resistance at 1295.00

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 sixth session rebound in 11 of its lowest sessions since March 7 when its lowest bid since June 26, 2017, against the US dollar On the eve of economic developments and data expected on Tuesday by the US economy, the largest economy in the world.

At 04:41 am GMT, the EURUSD rose 0.09% to 1.1309 compared with the opening at 1.1303 after the pair reached a high of 1.1314 while the lowest at 1.1299

Investors are currently looking for Germany's largest economy to unveil a statistical reading from the ZEW Economic Sentiment Index, which may reflect a widening to 0.9 versus a 3.6% contraction in March, coinciding with the same reading for Eurozone economies as a whole, which may also Extending to a value of 1.2 versus a contraction at 2.5 in March.

On the other hand, the markets are looking to the US economy, the world's largest industrial producer, for the Industrial Production Index, which may reflect the acceleration of growth to 0.2% from 0.1% in February. The Energy Use Index showed growth accelerated to 79.2% against 78.2 And before we see the housing index reading by the National Association of Home Builders, which may reflect a widening to 63 versus 62 in March.

Technical analysis:

EUR / USD is fluctuating around SMA 50 now, and there is some slight bearishness at the beginning of today's trading, which signals the direction of the price to return to the bearish path again, but we still favor a continuation of the positive scenario unless the break 1.1235 and 1.1180 And stability without it.

Therefore, we are waiting for positive trading during the upcoming sessions, noting that our expected targets start at 1.1350 and extend to 1.1443 after breaching the previous level.

The trading range for today is expected among the 1.1220 support and 1.1400 resistance

The expected general trend for today: temporarily bullish

The Australian dollar fell during the Asian session to see its rebound for the third session of its highest since February 27 against the US dollar following developments and economic data that followed on the Australian economy and on the eve of developments and economic data expected Tuesday by the US economy, the largest economy in the world.

At 02:26 am GMT, the AUDUSD fell 0.42% to 0.7143 compared to the opening levels at 0.7173 after the pair hit a session low of 0.7140 and a high of 0.7175.

The Australian economy unveiled the minutes of the April 2 Reserve Bank of Australia meeting in which it approved the setting of short-term benchmark interest rates at 1.50% for the 30th consecutive meeting. Interest "would likely be appropriate" in the case "that inflation did not move up and unemployment turned to the top."

On the other hand, we have just read the Federal Open Market Committee (FOMC) Chairman and Federal Reserve Bank of America Chairman Eric Rosengren at Davidson College, North Carolina, before we see later today the world's largest industrial producer reading Industrial Production Index May reflect a growth acceleration to 0.2% versus 0.1% in February.

A reading of the Energy Use Rate Index may show growth acceleration to 79.2% versus 78.2% in February before we see the largest economy in the world-disclosing US housing market data with the housing index reading by the National Association of Home Builders, which may reflect a widening to 63 versus 62 last March.

Technical analysis:

The AUDUSD is showing some bearishness with the opening of today's trading after it found it difficult to overcome the resistance of the bullish intraday channel, which might push the price to test the support of this channel around 0.7080 before resuming the major bullish wave.

All in all, we continue to push the main bullish trend steady above 0.7044, noting that we are waiting to visit 0.7250 as the next major target.

The trading range for today is expected among the support at 0.7080 and resistance at 0.7220

The general trend for today is bullish

The US dollar fluctuated in a tight range slipping during the Asian session to see its rebound to its second-highest session since March 5 against the Japanese Yen following developments and economic data that followed on the Japanese economy. Following a talk by a member of the Federal Open Market Committee and Reserve Bank of Boston Federal Erik Rosengren at Davidson College, North Carolina, on the eve of economic developments and data expected Tuesday by the US economy, the largest economy in the world.

At 05:49 GMT, the USDJPY declined 0.09% to 111.94 compared to the opening levels at 112.04, after reaching the lowest level at 111.89, while reaching a high of 112.05.

We followed the Japanese economy, the third largest industrial country in the world, to release industrial data with the Tertiary Industrial Index, which showed a decline of 0.6% versus 0.6% in January, worse than the 0.2% decline. BOJ Governor Haruhiko Kuroda said his country's economy slowed slightly and wage growth was somewhat disappointing.

Kuroda also noted that Japan's labor productivity registered faster growth than other developed countries, which weighed heavily on the performance of inflationary pressures. He pointed out that there is a rise in prices in the labor sector, which is labor intensive. He pointed out that the next step would be to cut interest rates. The Japanese central bank has time to make a decision, adding that the yen is stabilizing between 110 and 120 per dollar and that the current levels are satisfactory.

In another context, we followed yesterday the Japanese Minister of Economy Toshimitsu Motegi told a news conference with US Trade Representative Robert Laitzer in Washington that the trade exchange between his country and the United States "frank and good exchange," in response to US President Donald Trump's statement that he changed Satisfied with Japan's trade surplus with his country of $ 69 billion and that he wanted a two-way deal to deal with that.

The comments were made by Japanese Economy Minister Motige after the launch of trade talks between Japan and the United States, which will continue until next Thursday, following the adoption of the United States under the administration of US President Trump commercial protectionism and the work of many countries to enter into trade negotiations with the Department Trump to avoid the outbreak of trade war.

In addition, we would like to point out that the Japanese government recently announced a 10-day holiday from Saturday, 27 April to Monday, 6 May, for the celebration of the rise of the new emperor during the official holiday, Crown Prince at the beginning of May, and we would like to point out that this six-day vacation will be the longest in Japan's history.

On the other hand, the markets are looking to the US economy, the world's largest industrial producer, for the Industrial Production Index, which may reflect the acceleration of growth to 0.2% from 0.1% in February. The Energy Use Index showed growth accelerated to 79.2% against 78.2 And before we see the housing index reading by the National Association of Home Builders, which may reflect a widening to 63 versus 62 in March.

Technical analysis:

The USDJPY remains steady below 112.14, keeping the bearish scenario intact over the intraday basis after the price failed to breach the mentioned high, awaiting negative trading to visit 111.01 and then 110.66 in the coming period.

Conversely, keep in mind that a breach of 112.14 will lead the pair to resume the short term uptrend and extend the upside wave to 113.10 as the next major station.

The trading range for today is among the key support at 111.10 and resistance at 112.60

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.

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 indicator gives positive signals for continued bullishness as it is on a bullish path towards the overbought area.

Range of movement between support 1137.90 and resistance: 1236.30

USDJPY

The pair is trading below the level of 112.00. In our opinion, it will continue a correctional drop in the wake of persisting fears that the world economy will continue to slow down in its growth, which could lead to the beginning of a recession. In this case, protective assets including the Japanese yen will be in demand.

The price is above the middle Bollinger band, below SMA 5 and SMA 14. Movings give a signal to sell. RSI continues to move down. Stoch are falling.

Trading recommendations:

Sell the pair right after it drops below 111.90 with its possible drop to 111.35 or even lower to 111.25.

Sberbank managed to break through the 238.53 resistance and close above it to come back and test it again with last week's trading sessions closed.

Sberbank continues to move within a bullish path under the influence of the 7-20-50 moving averages

Where the averages move below the price and form support levels for the price

The stochastic is out of the saturation area of the buy-in in a bearish move in a sign of a possible test of the broken resistance level of 238.53 again

The expected movement between 228.00 support and 258.40 resistance

The general trend of the movement: upward