Analytic reviews

The Australian dollar fluctuated in a tight range slipping into the Asian session against the US dollar amid a lack of economic data from Australia on the eve of developments and economic data expected on Thursday by the US economy.

At 06:24 GMT, the AUDUSD dropped by 0.12% to 0.7110 in comparison with the opening levels of 0.7121 after reaching a low of 0.7108 while the highest at 0.7128.

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 AUDUSD has been moderately trading since yesterday and is trying to confirm the SMA 50 has been breached. The pair is getting positive signs from Stochastic awaiting further upside in the coming sessions and noting our next main target is at 0.7250.

Stability above 0.7044 represents the most important condition for the continuation of the expected rise as breaking it will turn the intraday path downward to start the negative targets at 0.6900.

The trading range for today is expected among the support at 0.7060 and the resistance at 0.7200.

The general trend for today is bullish.

USDCAD

The pair remains within the existing range against the background of uncertainty surrounding the US-China trade talks, Brexit and the Fed’s future monetary policy.

The pair is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and is growing. Stoch have entered the overbought territory and indicate a possible pause in the price growth.

Trading recommendations:

If the pair remains below 1.3365, sell it as the drop to 1.3295 is possible.

The US dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound for the sixth session in eight sessions from its lowest since February 8 against the Japanese yen amid a lack of economic data by the Japanese economy and on the eve of developments and economic data expected on Wednesday by the US economy.

At 06:15 GMT, the USDJPY rose 0.12% to 111.45 compared to the opening levels at 111.32 after reaching the highest level since March 20 at 111.53, while achieving the lowest level during a trading session at 111.21.

Investors are eyeing the US economy for preliminary data on the labor market, with the reading of the Change in Private Sector Index, which may reflect the acceleration of job creation to 184,000 added jobs versus 183,000 in February, Monthly for non-agricultural jobs and unemployment rates in addition to the average income per hour for the last month later this week.

Leading to the final reading of the index of the Institute of Supply Services by Markit from the United States, which may reflect the stability of the breadth at 54.8 compared to 56.0 in February, before the disclosure of the index of the Institute of Supply Service, which may show the narrowing of the breadth to 58.1 compared to 59.7 in February, February, and we would like to point out, because the supply of services is important in the fact that the service sector in America represents more than two-thirds of GDP there.

Technical analysis:

The USDJPY is attempting to breach the resistance at 111.44 and is now stabilizing near the upside, supporting our bullish outlook for the coming sessions, supported by the 50 SMA, awaiting 111.75 and 112.14 which are our main targets.

Stability above 111.44 is important for the continuation of the expected rally, as breaching it will press the price to test the 110.86 areas before any new attempt to rise

Moving averages push the price higher. The stochastic is also in a bullish path towards areas of saturation of the buy.

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 tight range sloping upward during the Asian session to see their rebound to a third session in four sessions since March 8 as the USD index rebounded for the second consecutive session from its highest since the same day according to the inverse relationship between them On the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world and resumed trade talks between China, the largest consumer of metals globally and the United States in Washington.

Gold futures for June delivery rose 0.04% to currently trading at $ 1,297.20 an ounce, showing a four-week trough from the opening at $ 1,296.90 an ounce, amid the decline of the US dollar index 0.01% to 97.35, showing a rebound from its 2-month low compared to the opening at 97.33.

Investors are eyeing the US economy for preliminary data on the labor market, with the reading of the Change in Private Sector Index, which may reflect the acceleration of job creation to 184,000 added jobs versus 183,000 in February, Monthly for non-agricultural jobs and unemployment rates in addition to the average income per hour for the last month later this week.

Leading to the final reading of the index of the Institute of Supply Services by Markit from the United States, which may reflect the stability of the breadth at 54.8 compared to 56.0 in February, before the disclosure of the index of the Institute of Supply Service, which may show the narrowing of the breadth to 58.1 compared to 59.7 in February, February, and we would like to point out, because the supply of services is important in the fact that the service sector in America represents more than two-thirds of GDP there.

Technical analysis:

The price of gold offers a quiet trading session to move around 1290.00, while Stochastic is showing a clear saturation now, which is a negative factor that we expect to push the pair down again as the correctional correction is still dominating the intraday basis, waiting for the 1275.30.

SMA 50 supports negative expectations, which require stability to remain below 1301.60.

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 rose during the Asian session to rebound to its second-lowest session since March 7 when its lowest since June 27, 2017, against the US dollar on the trough of economic developments and data expected on Wednesday by the economies of the euro area and the US economy.

At 05:22 GMT, the pair rose 0.16% to 1.1222, compared with the opening at 1.1204, after reaching a high of 1.1227, while reaching a low of 1.1201.

Investors are currently looking for the PMI to show a reading of 55.0 versus 54.5 in February, and the same indicator for Italy, the third largest economy in the region, could see a widening of 50.9 Compared with 50.4 in February.

Before the final reading of the PMI for France and Germany, which may show deflation stabilizing at 48.7, little changed from the previous reading in France last month, compared with a widening of 50.2 in February, stability of 54.9 in Germany versus 55.3. The final reading of the index for the eurozone as a whole may reflect the widening stability at 52.7 and 52.8 in February.

And to the release of retail sales reading for the eurozone as a whole, which may show growth slowing to 0.2% from 1.3% in January. The same annualized reading may show that growth slowed to 1.5% versus 2.2% Yesterday, the EU's top EU commissioner, Michel Barnier, said the possibility of Britain leaving the EU without the agreement was increasing day after day.

On the other hand, markets are looking for the US economy to release preliminary data for the labor market with the reading of the Change in Private Sector Index, which may reflect the acceleration of job creation to 184,000 jobs as opposed to 183,000 jobs in February. On the monthly report of non-farm jobs and unemployment rates in addition to the average income per hour for the last month later this week.

Leading to the final reading of the index of the Institute of Supply Services by Markit from the United States, which may reflect the stability of the breadth at 54.8 compared to 56.0 in February, before the disclosure of the index of the Institute of Supply Service, which may show the narrowing of the breadth to 58.1 compared to 59.7 in February, and we would like to point out, because the supply of services is important in the fact that the service sector in America represents more than two-thirds of GDP there.

Technical analysis:

The EURUSD is finding it difficult to break the 1.1180 level, which represents the 61.8% Fibonacci correction for the entire upside shown in the picture, supported by the Stochastic positive, which may push the price to provide some temporary positive attempts.

So far, however, the main bearish scenario is still likely to hold steady below 1.1300, with the next target at 1.1100, while the break of 1.1300 represents the beginning of recovery attempts with initial targets around 1.1443.

The trading range for today is expected among the key support at 1.1120 and resistance at 1.1280.

The general trend for today is bearish.

The Australian dollar rose during the Asian session to see its rebound to its second low since March 14 against the US dollar following developments and economic data that followed the Australian economy and on the eve of developments and economic data expected Wednesday by the US economy, the largest economy in the world.

At 02:55 GMT, the AUDUSD rose 0.41% to 0.7100, compared to the opening levels of 0.7071, after reaching a high of 0.7105, while reaching a low of 0.7055.

We followed the Australian economy by reading AIG's Services Index, which showed a shrinking of 44.8 versus 44.5 last February, before we saw the Retail Sales Index, which showed a faster pace of growth to 0.4% versus 0.1% in January, beating expectations that the pace of growth accelerated to 0.3%.

This came in line with the release of the trade balance, which showed that the surplus widened to A $ 4.80 billion from A $ 4.35 billion in January, in contrast to expectations of a contraction of A $ 3.71 billion. The Fed kept interesting rates at 1.50% for the 30th consecutive meeting.

We also followed on Tuesday the disclosure of the Australian annual budget report by the Australian Ministry of the Treasury, which addressed the possibility of achieving surplus in the fiscal year 2020/2021 by 11 billion Australian dollars, amid expectations for the expansion of the Australian economy during the year 2019 and 2020 and 2021 by inflationary pressures stabilized at 2.25% in fiscal year 2019/2020 and at 2.5% in fiscal year 2020/2021.

On the other hand, markets are looking for the US economy to release preliminary data for the labor market with the publication of the Change in Private Sector Index, which may reflect the acceleration of job creation to 184,000 added jobs versus 183,000 jobs added in February, from revealing the monthly report of non-agricultural jobs and unemployment rates in addition to the average hourly income for the last month.

Leading to the final reading of the index of the Institute of Supply Services by Markit from the United States, which may reflect the stability of the breadth at 54.8 compared to 56.0 in February, before the disclosure of the index of the Institute of Supply Service, which may show the narrowing of the breadth to 58.1 compared to 59.7 in February, and we would like to point out, because the supply of services is important in the fact that the service sector in America represents more than two-thirds of GDP there.

Technical analysis:

AUDUSD tested the 0.7044 level and rebounded from there, so the bullish scenario remains effective over the coming period, supported by Stochastic positive, awaiting a major 0.7250 visit.

Keep in mind that a break of 0.7044 will halt the expected rally and push the price around 0.6900 initially.

The trading range for today is among the key support at 0.7044 and resistance at 0.7180.

The general trend for today is bullish.

Aeroflot rebounded from support 95.68 to rebound towards 99.94 resistance.

The price is currently under resistance from the moving average 20 which tries to prevent the price from rising while the moving average 7 below the price.

SMA 50 is a resistance level at 99.94 with Fibonacci retracement of 618%.

Stochastic in a bullish upward direction to increase the positive pressure on the price and push it to test the resistance.

The general trend of the movement is bearish.

USDCAD

The pair is moving down following the growth of crude oil prices, as well as the positive economic statistics from China, which supports investors’ hope for renewed growth of the world economy, which also implies renewed growth of the demand for oil and oil products.

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

Trading recommendations:

Sell the pair after is passes 1.3300 with a  possible further drop to 1.3250.

EURUSD

The pair is moving down in anticipation of the publication of DGO data in the US that are expected to indicate growth. In this case, the pair will continue the slow decline.

The price is below the middle 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 and aren’t informative.

Trading recommendations:

Sell the pair following the strong data from the US with a possible target of 1.1175 and a possible further drop to 1.1150.

Google shares returned to the channel within the rising channel that has been trading since the beginning of this year after trying last week to support the support of 1172.41 did not manage to penetrate to bounce back and continue to move upward trend, which trades within it.

Stable averages give the price to the upside as its currency moves below it in ascending order 7-20-50, respectively

The Stochastic is giving positive signals to the bullishness as it formed a positive cross and emerged from the oversold area on a bullish upward path

General.

Range of movement between support 1137.90 and resistance: 1236.30