Analytic reviews

The US dollar fluctuated in a tight range slipping into the Asian session to see its rebound from its highest since March 5 against the Japanese Yen amid a lack of economic data earlier this week by the Japanese economy, the world's third-largest economy and on the eve of developments and economic data expected On Monday by the US economy, the world's largest economy.

At 05:45 GMT, the USDJPY dropped 0.07% to 111.93 from the opening levels of 111.95 after the pair reached a low of 111.92 and the highest in six weeks at 112.10.

Investors are looking forward to the visit of Japanese Economy Minister Motji later in the day to the United States for formal trade talks between Tokyo and Washington, which will continue until next Thursday, following the US-led administration of President Donald Trump, Of countries to enter into trade negotiations with Trump management 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, markets are looking for the US economy to read the New York Manufacturing Index, which may reflect a widening to 8.1 versus 3.7 last March, coinciding with a CNN-TV interview of a member of the Federal Market Commission Open and President of the Chicago Federal Reserve Charles Evans, before speaking about economics and monetary policy at the New York Business Economics Association luncheon.

Technical analysis:

USD/JPY has reached our key target at 112.14, and we see that the pair is finding strong resistance there, which is the top of last month, as Stochastic is showing negative signs that are pushing the pair lower in the coming sessions.

Therefore, we expect the pair to witness negative trading today, and the breach of 111.83 will confirm the continuation of the decline to test areas 111.44 and 111.00, taking into consideration that the breach of 112.14 will stop the negative scenario and push the price to continue to rise in the short term and open the way to visit 113.10 as the next main target.

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.

Gold futures fluctuated in a tight range slipping towards the Asian session to see their fourth session rebound since March 27, shedding the US dollar index for the seventh session in 10 sessions from its highest since the eighth of the same month according to the inverse relationship between them On the eve of developments and economic data expected on Monday by the US economy, the largest economy in the world.

Gold futures for June delivery fell 0.16% to currently trade at $ 1,291.30 per ounce, showing a three-week high rebound from the opening at $ 1,294.00 an ounce, while the US dollar index 0.06% to 96.86, showing a rebound from the top in six weeks compared to the opening at 96.93.

The markets are currently looking for the US economy to read the New York Industrial Index, which may reflect a widening to 8.1 vs. 3.7 in March, coinciding with a CNN-TV interview of FOMC member and Chairman Bank of Chicago Fed Charles Evans, before speaking about economics and monetary policy at the New York Business Economics Association lunch.

Otherwise, we followed yesterday the State Committee on Monetary and Financial Affairs, which is the main advisory committee of 189 member states of the International Monetary Fund issued a statement through which the finance ministers and governors of central banks worldwide after the meetings of the International Monetary Fund, which lasted three days in Washington that they are ready to " To act quickly "to support global economic growth facing risks including trade tensions.

US Treasury Secretary Stephen Menochin recently said that his country's trade talks with China, the world's largest mineral consumer, have been positive, but a trade agreement has yet to be reached among the world's top economists. In another context, the positive economic data that followed last weekend The Chinese economy has reduced investor concern about the weakening of the world's second largest economy in recent times.

The positive start of the business results disclosure season for major US banks and banks in the first quarter of this year helped to stimulate investors' risk appetite. The global equity indices gained wide gains as liquidity shifted from safe havens, particularly precious metals, especially gold, in addition to the dollar. American, which has recently been a safe haven until the vision becomes clear.

Technical analysis:

The price of gold continues to decline gradually to stay away from the pivotal resistance 1301.60 and gradually approaching our main target at 1275.30. The bearish trend remains valid for the coming sessions, noting that there is a triple top formation currently forming, supporting the downside correction to target 1253.20 areas. 1231.13 in the short term.

Moving below SMA 50 supports the continuation of the expected decline, which will remain intact unless 1301.60 levels are breached and then 1304.70 and stability above it.

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

The general trend for today is bearish

The euro fluctuated in a tight range in the Asian session to see its fifth session rebound in 10 sessions from its lowest since March 7 when its lowest since June 26, 2017, was tested against the dollar on the eve of the release of the bank's monthly report And the economic data expected on Monday by the US economy, the largest economy in the world.

At 04:41 GMT, the EURUSD rose 0.09% to 1.1309, compared to the opening at 1.1303, after reaching a high of 1.1314 and a low of 1.1299.

The markets are currently looking for the US economy to read the New York Industrial Index, which may reflect a widening to 8.1 vs. 3.7 in March, coinciding with a CNN-TV interview of FOMC member and Chairman Bank of Chicago Fed Charles Evans, before speaking about economics and monetary policy at the New York Business Economics Association lunch

Technical analysis:

The EUR / USD pair has stabilized above SMA 50, with the pair gaining a good support base that supports further gains over the intraday basis, noting that a break of 1.1350 will push the price towards 1.1443 as the next key target.

Therefore, we will continue to bias the upside move in the coming sessions unless the 1.1243 and 1.1180 levels are broken below and breaching these levels will press the price to resume the short term bearish path and push the 1.1100 level initially.

The trading range for today is among the key support at 1.1243 and resistance at 1.1420

The expected general trend for today: temporarily bullish

The Australian dollar fluctuated in a narrowly bullish range during the Asian session, adding to last week's rallies in gains against the US dollar amid a lack of economic data earlier this week by the Australian economy and on the brink of developments and economic data expected Monday by the US economy's largest economy the world.

At 02:26 am GMT, the AUDUSD rose 0.07% to 0.7177 compared to the opening levels of 0.7175 after the pair reached a high of 0.7180 and a low of 0.7164.

Markets are looking to unveil Australia's Reserve Bank of Australia meeting minutes on April 2, during which the monetary policymakers at the Reserve Bank of Australia agreed to set short-term benchmark interest rates at 1.50% for the 30th consecutive meeting, At the time, it was reported that coinciding with the meeting the Australian Treasury revealed the Australian annual budget report.

We would like to point out that the Australian annual budget report by the Treasury Department has discussed the possibility of a surplus in the fiscal year 2020/2021 by 11 billion Australian dollars, amid the expectations of the expansion of the Australian economy during the year 2019 and both 2020 and 2021 by 2.75% Inflationary pressures stabilized at 2.25% in fiscal year 2019/2020 and at 2.5% in fiscal year 2020/2021.

On the other hand, investors are waiting for the US economy to read the New York Industrial Index, which may reflect a widening to the value of 8.1 vs. 3.7 last March, in conjunction with a television interview on CNN-B-C member of the Federal Market Commission Open and President of the Chicago Federal Reserve Charles Evans, before speaking about economics and monetary policy at the New York Business Economics Association luncheon.

Technical analysis:

The AUDUSD continues to rise to begin attempts to overcome the bullish intraday channel resistance appearing in the image, awaiting further bullishness targeting 0.7210 as the next major station.

Overall, we continue to favor the bullish trend in the coming sessions supported by the SMA 50, with the reminder that stability above 0.7027 represents the most important condition for the continuation of the expected rally.

The trading range for today is expected among the support at 0.7100 and the resistance at 0.7210

The general trend for today is bullish

USDJPY

The pair is trading below the level of 112.00 after reaching a local maximum following the overall weaker USD rate. A local correction of the price is expected.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI has left the overbought territory and is reversing downwards. Stoch have also left the overbought zone and indicate a downwards reversal of the price.

Trading recommendations:

Sell the pair as it’s likely to drop to 111.35.

AUDUSD

The pair corrected to 0.7125 following the release of the strong industrial inflation data in the US, but it still may reverse upwards and resume growth, since the Fed isn’t expected to change its plans to passively observe the market situation in the foreseeable future.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is reversing downwards. Stoch have left the oversold territory and indicate an upwards reversal of the price.

Trading recommendations:

Buy the pair as it’s likely to grow to 0.7175.

The US dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound to its third straight session since the beginning of April against the Japanese Yen amid a lack of economic data by the Japanese economy, the third largest economy in the world and on the eve of developments and economic data expected on Friday from Ahead of the US economy, the world's largest economy.

At 05:54 GMT, the USDJPY rose 0.13% to 111.81 compared to the opening levels at 111.66, after reaching a high of 111.82, while the lowest at 111.59.

Investors are currently waiting for the US economy to release the import price index, which may reflect slowing growth to 0.4% from 0.6% in February, while the same indicator excluding oil may show stability at zero levels versus 0.1% The index itself contracted to 0.7% from 1.3% in February.

This comes ahead of the release of the preliminary reading of the University of Michigan consumer confidence index, which may reflect a widening of the widening to 98.1 versus 98.4 in March as consumers forecast inflation for one year to come and five years ahead, until the US Treasury issued its half report Per annum on economic policies and the international exchange rate or known as the currency report of the US Treasury.

On Wednesday, the Fed unveiled the minutes of the Federal Open Market Committee meeting held on March 19-20, which focused on patience, monitoring of economic developments and data, with a gradual reduction in bond buybacks until September, Interest rates are between 2.25% and 2.50% in the shadow of stabilizing inflationary pressures near target.

Technical analysis:

The USDJPY pair rallied strongly yesterday to near our main awaited target at 112.12 and is currently attempting to test the 111.83 resistance as a first stage despite negative signs from Stochastic, which is trading in overbought territory. Again.

Overall, we will continue to tilt the upside during the coming sessions unless the 110.86 level is breached and stability below it, noting that a breach of the target will extend the upside wave to 113.10 as the next major station.

The trading range for today is among the key support at 111.00 and resistance at 112.60

The general trend for today is bullish

Gold futures fluctuated in a narrow range slipping towards the Asian session to see their rebound for the third session since March 27, defying the decline of the dollar index for the sixth session in nine sessions of its highest since the eighth of the same month according to the reverse relationship On the eve of developments and economic data expected Friday by the Chinese economy, the largest consumer of metals globally and his counterpart the US economy, the largest economy in the world.

At 03:59 am GMT, gold futures for June delivery fell 0.08% to currently trade at $ 1,294.60 an ounce, showing a two-week rally from the top of the week at $ 1,295.80 per ounce, while the US dollar index declined 0.19 % To 96.98, adding that the rebound from the top has resumed in five weeks compared to the opening at 97.14.

The markets are currently looking ahead to the Chinese economy, the world's second-largest economy and second-largest industrialized nation, to unveil the March trade balance, which could reflect a surplus of 76.6 billion yuan ($ 5.7 billion), compared to 34.5 billion yuan Billion in February, amid expectations of a rise in Chinese exports and imports last month.

On the other hand, investors are looking ahead to the reading of the import price index, which may reflect a slowdown in growth to 0.4% from 0.6% in February, while the same indicator excluding oil may show stability at zero levels versus 0.1% The index's annual reading shrank to 0.7% from 1.3% in February.

This comes ahead of the release of the preliminary reading of the University of Michigan consumer confidence index, which may reflect a widening of the widening to 98.1 versus 98.4 in March as consumers forecast inflation for one year to come and five years ahead, until the US Treasury issued its half report Per annum on economic policies and the international exchange rate or known as the currency report of the US Treasury.

On Wednesday, the Fed unveiled the minutes of the Federal Open Market Committee meeting held on March 19-20, which focused on patience, monitoring of economic developments and data, with a gradual reduction in bond buybacks until September, Interest rates are between 2.25% and 2.50% in the shadow of stabilizing inflationary pressures near target.

Technical analysis:

Gold managed to confirm the breach of 1301.60 after yesterday's closing below it, reinforcing the expectations for the continuation of the bearishness over the intraday basis, awaiting the visit of 1297.06 which represents 38.2% Fibonacci retracement of the bullish wave shown in the image.

The triangle structure is still in place, which means that its completion will press the price to extend the downside wave towards the areas of 1253.20 and then 1231.13 in the short term, bearing in mind that the continuation of the expected bearish trend requires stability below 1302.60 and above-below 1311.00.

The trading range for today is among the support at 1297.00 and resistance at 1305.00

The general trend for today is bearish

The single currency of the European Union region rose during the Asian session to rebound to a fourth session in nine sessions from its lowest since March 7 when its lowest since June 26, 2017 against the US dollar on the eve of economic developments and data expected today Friday by the eurozone economies and the US economy the world's largest economy.

At 4:50 am GMT, the EURUSD rose 0.34% to 1.1291, compared with the opening at 1.1253, after reaching the highest level since March 26 at 1.1295, while achieving a low of 1.1253

The markets are currently looking for the Eurozone economy as a whole to release industrial data with the seasonally adjusted Industrial Production Index, which may reflect a 0.5% drop from January's 1.4% 1.0% versus 1.1% in the previous January reading.

This comes after EU and UK leaders reached an agreement on Wednesday to extend the deadline for Britain's exit from the EU until the end of October. European Council President Donald Tusk said that this development provides "an additional six months for the UK to find the best possible solution", Following ECB President Mario Draghi's warning of downside risks as he reported slowing economic growth momentum in the eurozone following the ECB's decision to stay at zero interest rates.

On the other hand, investors are looking ahead to the reading of the import price index, which may reflect a slowdown in growth to 0.4% from 0.6% in February, while the same indicator excluding oil may show stability at zero levels versus 0.1% The index's annual reading shrank to 0.7% from 1.3% in February.

This comes ahead of the release of the preliminary reading of the University of Michigan consumer confidence index, which may reflect a widening of the widening to 98.1 versus 98.4 in March as consumers forecast inflation for one year to come and five years ahead, until the US Treasury issued its half report Per annum on economic policies and the international exchange rate or known as the currency report of the US Treasury.

On Wednesday, the Fed unveiled the minutes of the Federal Open Market Committee meeting held on March 19-20, which focused on patience, monitoring of economic developments and data, with a gradual reduction in bond buybacks until September, Interest rates between 2.25% and 2.50% in the shadow of the stability of inflationary pressures near the target.

Technical analysis:

The EUR / USD pair is resuming its positive trading session at the beginning of the day, after yesterday's narrow fluctuation, to test and test the resistance 1.1287 which has been tested several times this week, waiting to break this barrier to confirm our first positive target at 1.1350, This level will push the price towards 1.1443 as a next stop.

The EUR is gaining bullish momentum from the moving averages that are in a bullish order below the price. And also from the Stochastic which is heading towards the oversold area.

Therefore, we continue to favor the bullish trend in the coming sessions unless the price falls to break the 1.1235 and then the 1.1180 levels below.

The trading range for today is expected among the 1.1200 support and 1.1380 resistance

The expected general trend for today: temporarily bullish

The Australian dollar fluctuated in a tight range slipping towards the Asian session to see its rebound to its third session since February 27 against the US dollar on the eve of economic developments and data expected Thursday by the US economy, the world's largest economy.

At 3:11 am GMT, the AUDUSD rose 0.03% to 0.7126, compared with the opening levels at 0.7123, while the pair reached a high of 0.7136 and a low of 0.7115.

Investors are currently waiting for the US economy to release the import price index, which may reflect slowing growth to 0.4% from 0.6% in February, while the same indicator excluding oil may show stability at zero levels versus 0.1% The index itself contracted to 0.7% from 1.3% in February.

This comes ahead of the release of the preliminary reading of the University of Michigan consumer confidence index, which may reflect a widening of the widening to 98.1 versus 98.4 in March as consumers forecast inflation for one year to come and five years ahead, until the US Treasury issued its half report Per annum on economic policies and the international exchange rate or known as the currency report of the US Treasury.

On Wednesday, the Fed unveiled the minutes of the Federal Open Market Committee meeting held on March 19-20, which focused on patience, monitoring of economic developments and data, with a gradual reduction in bond buybacks until September, Interest rates are between 2.25% and 2.50% in the shadow of stabilizing inflationary pressures near target.

Technical analysis:

The AUDUSD is back to test the SMA 50, which is currently good intraday support at 0.7115, awaiting the resumption of the expected bullish trend for the coming period, with the next target at 0.7250.

Therefore, we will hold our bullish trend unless the level of 0.7044 is broken and stability below it.

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.