Analytic reviews

EURUSD

The pair is moving within a very narrow range in anticipation of the new employment data in the US which may cause dramatic swings in the price, though limited to the existing range.

The price is above the middle Bollinger band, on the level of SMA 5 and SMA 14. RSI is passing the level of 50% and is rising. Stoch are also growing.

Trading recommendations:

Weak employment data will lead to the pair growing to 1.1285 after passing 1.1245. Strong data will pressure the pair and it may drop to 1.1175.

The US dollar fluctuated in a narrow bullish range during the Asian session to witness a rebound to the eighth session in ten sessions of its lowest since February 8 against the Japanese yen following developments and economic data that followed the Japanese economy on the eve of developments and data Economic outlook on Friday by the US economy.

At 06:14 GMT, the USDJPY rose 0.04% to 111.70 compared to the opening levels at 111.62, after reaching the highest level since March 15 at 111.80, while achieving a low of the trading session at 111.60.

We have followed the Japanese economy to reveal the annual reading of the index of average wages, which showed the acceleration of the decline to 0.8% compared to 0.6% in the annual reading for the month of January, contrary to the expectations that indicated a rise of 0.9%, in conjunction with the publication of the annual index of spending which showed a slowdown in growth to 1.7% versus 2.0% in January, worse than expected at 1.9%.

Investors are currently looking to the US economy to reveal labor market data that may reflect the stability of unemployment at 3.8%, unchanged from the previous reading for February, amid expectations that reflect the average income per hour The pace of growth slowed to 0.4% from 0.3% in February.

This comes in tandem with the Non-Farm Payrolls Non-Farm Payrolls report, which may reflect a faster pace of job creation to 172,000 jobs versus 20,000 jobs added in February. Reaching the US Consumer Confidence reading, which may reflect a decline to $ 17.2 billion versus $ 17.0 billion in January.

Technical analysis:

The USDJPY pair resumed its positive trading session yesterday to succeed in reaching our awaited first target at 111.75, awaiting further upside to test the 112.14 level as the next major station so that the bullish trend will remain valid for the coming period.

SMA 50 continues to support the suggested bullish wave, which requires stability to remain above 111.40 and above 110.86.

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

The general trend for today is bullish.

Gold futures fluctuated in a tight range slipping towards the Asian session to make their second consecutive weekly loss, shrugging off the US dollar's third session decline in four sessions from its highest since March 8 according to the inverse relationship between them on the eve of developments And economic data expected Friday by the US economy, the largest economy in the world.

Gold futures for June delivery fell 0.27% to currently trade at $ 1,292.90 per ounce from the opening at $ 1,296.50 per ounce, while the US dollar index fell 0.09% to 97.21, resuming its rebound from Higher in a month compared to the opening at 97.30.

Investors are currently looking for the US economy to release labor market data, which may reflect a stable 3.8% unemployment rate, unchanged from last February's reading, amid expectations that the reading of the Change in Employment Index for the sectors The pace of job creation accelerated to 172,000 jobs, up from 20,000 jobs in February.

This is in line with the average hourly earnings reading, which may indicate slowing growth to 0.4% vs. 0.3% in February, and before we see later today the US Consumer Confidence Index for February which may reflect a decline to $ 17.2 billion from $ 17.0 billion in January.

Technical analysis:

Gold finished the double-top pattern after yesterday's decline and is back around 1290.00, noting that SMA 50 is a continuous negative pressure against the price, while Stochastic is losing its positive momentum significantly.

Therefore, we believe that the opportunities are available to trade negatively during the coming sessions, waiting for the 1275.30 to be tested initially, noting that the completion of the mentioned negative pattern will push the price to achieve more negative targets extending to 1253.20 then 1231.10 in the near term, while stability below 1302.60 An important condition for the continuation of the expected decline.

The trading range for today is among the support at 1270.00 and resistance at 1302.60.

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 for the second session in four sessions from its lowest since March 7 when its lowest since June 27, 20,17 was tested against the US dollar on the economic outlook for the EU and the US economy.

At 05:22 GMT, the EURUSD rose 0.12% to 1.1234 compared to the opening at 1.1221, after reaching a high of 1.1237 and a low of 1.1219.

The markets are currently looking ahead to the euro zone's biggest economy, Germany, for the Industrial Production Index, which could reflect a 2.5% drop from 5.9% in January, before France's second largest economy saw the trade balance reading May show the deficit widens to 4.7 billion euros from 4.2 billion euros in January and coincides with the Eurogroup meetings in Brussels.

Investors are looking ahead to the US economy to reveal labor market data, which may reflect a stable unemployment rate of 3.8%, unchanged from the previous reading for February, amid expectations that reflect the average income per hour The pace of growth slowed to 0.4% from 0.3% in February.

This comes in tandem with the Non-Farm Payrolls Non-Farm Payrolls report, which may reflect a faster pace of job creation to 172,000 jobs versus 20,000 jobs added in February. And later revealed today the reading of the US consumer credit index, which may reflect a decline to $ 17.2 billion compared to $ 17.0 billion in January.

Technical analysis:

The narrow range continues to dominate the EURUSD pair, which is still below the broken support shown in the picture, and therefore no change in the short and short term bearish scenario, which depends on stability below 1.1300, while its targets begin to breach 1.1180 To open the way to targeting 1.1100 as a next stop.

The trading range for today is expected between 1.1140 and 1.1300 support.

The general trend for today is bearish.

The Australian dollar rose during the Asian session to make its second straight weekly gain against the US dollar amid a lack of economic data from the Australian economy and on the eve of developments and economic data expected on Friday by the US economy.

At 03:58 GMT, the AUDUSD rose 0.20% to 0.7126 compared to the opening levels of 0.7112, after reaching a high of 0.7127, while reaching a low of 0.7108.

Investors are currently looking for the US economy to release labor market data, which may reflect a stable 3.8% unemployment rate, unchanged from last February's reading, amid expectations that the reading of the Change in Employment Index for the sectors the pace of job creation accelerated to 172,000 jobs, up from 20,000 jobs in February.

This is in line with the average hourly earnings reading, which may indicate slowing growth to 0.4% vs. 0.3% in February, and before we see later today the US Consumer Confidence Index for February which may reflect a decline to $ 17.2 billion from $ 17.0 billion in January.

Technical analysis:

The AUDUSD has been trading sideways and narrow range in recent sessions to oscillate around SMA 50, while the bullish scenario is still valid at 0.7044, awaiting a visit to 0.7250 as the next major station.

Recall that the break of 0.7044 will stop the expected rise and put the price under negative pressure, starting with the targets at 0.6900.

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.

Amazon continues to rise after the support level stood at 1765.27 against the price, where he tested several times last week and was unable to break it to continue the bullish trend of the price.

The price fluctuates above the moving averages 20 and 50 which support the price to rise and continue in the bullish path.

Stochastic in the oversold area and out of it may push the price for a correction and retest support.

The expected movement between 1765.27 support and 1890.43 resistance.

The general direction of the movement: neutral.

The US dollar fluctuated in a tight range slipping into the Asian session to see its rebound to its second-highest session since March 20 against the Japanese yen amid a lack of economic data by the Japanese economy on the eve of developments and economic data expected on Thursday by the US economy.

At 06:24 GMT, the USDJPY rose 0.10% to 111.38 compared to the opening levels at 111.49 after reaching a low of 111.36 and reaching a high of 111.52.

Investors are currently waiting for the US economy to read the Jobless Claims for the week ending on March 30. It could reflect a rise of 4K to 211K versus 211K. 23 of the last month down by 6 thousand to 1,750 thousand applications against 1,756 thousand applications.

Technical analysis:

The USDJPY remains stable above the breached resistance, which constitutes good support at 111.40. Therefore, the upside is still valid for the short and medium term. It's supported by the SMA 50, which holds the price from the bottom, noting that our awaited targets start at 111.75 then 112.14.

Keep in mind a break of 111.40 will push the price down towards 110.86 before any new positive attempt.

The trading range for today is expected among the support at 110.86 and the resistance at 112.20.

The general trend for today is bullish.

Gold futures fluctuated in a narrowly bullish range during the Asian session to see their rebound to a third session in five sessions from its lowest since March 8 keeping the USD index up for the first time in three sessions. It's according to the inverse relationship between them on the eve of developments and data economic outlook on Thursday by the US economy coinciding with the effectiveness of trade talks between China, the world's largest metal consumer, and the United States in Washington.

Gold futures for June delivery rose 0.20% to currently trade at $ 1,296.10 an ounce resuming a one month low from the opening at $ 1,294.40 an ounce. The US dollar index rose 0.02% to 97.06 compared to the opening at 97.04.

Investors are currently waiting for the US economy to read the Jobless Claims for the week ending on March 30. It could reflect a rise of 4K to 211K versus 211K. 23 of the last month down by 6 thousand to 1,750 thousand applications against 1,756 thousand applications.

This comes just hours after preliminary data from the US labor market showed the pace of job creation in the private sector slowed last month exceeding expectations for 129,000 jobs in comparison to 197,000 jobs added last February. It was on the eve of the release of the monthly report of non-agricultural jobs and rates unemployment in addition to the hourly rate of income in the United States for the month of March on Friday.

In another context, the markets are currently looking forward to the upcoming meeting of Liu Ho, China's chief trade negotiator, and Donald Trump, US President, in Washington. It's a part of the latest round of US-China trade talks amid efforts by both sides to avoid a trade war between the world's biggest economists. Larry Kudlow, US President George W. Bush's chief economic adviser, expressed optimism about a trade deal yesterday.

Technical analysis:

The gold price has not shown any strong movement in the past sessions. As long as the price is below 1301.60, our bearish outlook remains valid. It's supported by the negative pressure formed by SMA 50 mainly awaiting the 1275.30 visit.

Keep in mind the breaking of the target level will extend the correctional correction to 1253.20 as the next major stop.

The trading range for today is among the support at 1270.00 and resistance at 1301.60.

The general trend for today is bearish.

The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session to see its rebound to its third-lowest session since March 7 against the US dollar on the eve of developments and data economic outlook on Thursday.

At 05:22 GMT, the EURUSD rose by 0.07% to 1.1241 in comparison to the opening at 1.1233 the pair's low during the session while the pair reached a high of 1.1248.

The markets are looking at the biggest eurozone economies to see the factory demand index, which may rise by 0.3% from 2.6% in January. The seasonally adjusted annualized reading for the same index may shrink to 3.1% 3.9% in the previous annual reading for January.

This comes ahead of the release of the ECB's monetary policy meeting held on the March 7. The interest rates were maintained at current zero levels and the marginal lending rate stabilized at 0.25% while maintaining a negative deposit rate of -0.40. They announced a new round of long-term target refinancing (TLTROs) which will begin by September of this year until March 2021 with a two-year maturity of zero interest.

On the one hand, we have followed the statements of Jean-Claude Juncker, European Commission President, to the European Parliament in Brussels on Wednesday. He said the European Parliament would work until the last minute to avoid the exit of the United Kingdom without an agreement from the European Union. He added the member states of the Union and the Parliament were working on this. It has come a few hours after Donald Tusk, European Council President, expressed in his Twitter account the importance of patience and gave Britain more time to get out of the Union.

On the other hand, investors are currently waiting for the US economy to read the index of claims for the last week on March 30. It may reflect a rise of 4 thousand to 211 thousand applications compared to 211 thousand. The reading of the index of continuing assistance requests for the week ending 23 of last month is down by 6 thousand to 1,750 thousand applications against 1,756 thousand.

Technical analysis:

The EURUSD pair continues to fluctuate around broken support and remains below this level which constitutes a strong resistance at 1.1240 supporting the continuation of bearish expectations. It's shown in the chart above. It's notable Stochastic is beginning to shed its positive momentum.

Therefore, we will maintain our bearish outlook for the coming period. It's supported by the negative pressure formed by the SMA 50 with the reminder that breaking 1.1180 will open the way for a rally towards 1.1100 as a next stop. The stability below 1.1300 is an important requirement for the continuation of the expected decline.

The trading range for today is expected between 1.1140 and 1.1300 support.

The general trend for today is bearish.

Cisco was able to breach the 53.98 resistance to continue the bullish trend and achieve new historical levels.

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

Stochastic in the zone of saturation of the purchase if the intersection and exit from the saturation of the purchase is likely to see a correction movement of the price.

The general trend of the movement is bullish.