Analytic reviews

The US dollar fluctuated in a narrowly bullish range during the Asian session to see its fourth session rebound in five sessions from its lowest since February 8 against the Japanese yen following developments and economic data followed by the Japanese economy, the world's third largest economy and on the brink of developments And economic data expected Friday by the US economy, the largest economy in the world.

At 05:43 GMT, the US dollar was up 0.13% at 110.77 compared with the opening levels at 110.63 after the pair reached a high of 110.93 and a low of 110.54.

We followed the Japanese economy's release of the Tokyo Consumer Price Index (CPI), which showed a 0.9% growth, unchanged from February, in line with expectations. The core annual reading of the index, which excludes fresh food, At 1.1% are also consistent with expectations, and the core annual reading excluding fresh food and energy showed a stable 0.7%.

This coincided with the release of labor market data for the world's third-largest economy, which showed unemployment fell to 2.3% from January's reading and expectations of 2.5%, while the job-to-job ratio index showed stability at 1.63 With little change from last January.

Before the world's third-largest industrialized nations saw the preliminary reading of industrial production show a rise of 1.4% in line with expectations compared with a 3.4% drop in January, while the annual reading of the index itself showed a decline of 1.0% compared with a rise of 0.3% in the reading Annualized for January, outpacing expectations for a 1.1% decline.

This came in tandem with the seasonally adjusted preliminary release of retail sales, which showed a rise of 0.2% from 1.8% in January, below expectations of a rise of 01.0%, while the annual reading of the same index showed a slowdown of growth to 0.4% versus 0.6% in January January, also worse than the forecast for accelerated growth to 1.0%.

To show housing market data with the annual reading of the Construction Starts Index, which showed growth accelerated to 4.2% compared to 1.1% in the previous year's January reading, in contrast to expectations of a 0.1% decline, while the annual reading of the Building Permits Index declined 3.4 % Versus 19.8% in January.

On the other hand, investors are looking for the US economy to reveal spending and personal income data that may reflect personal spending rose to 0.3% from 0.5% in December and personal income rose to 0.3% from 0.1% December, while the reading of the Personal Consumption Expenditures (CPI) indicator may show growth stabilizing at 0.2% in January.

This comes ahead of the release of the Chicago PMI, which may reflect a contraction of 61.1 vs. 64.7 in February, to reveal housing market data with the release of the New Home Sales Index, which may reflect a 2.1% 625 thousand homes compared to a 6.9% decline at about 607 thousand homes in January.

With the release of the University of Michigan's consumer confidence index, which may reflect the stability of the widening at 95.8, little change from the initial reading this month and 97.8 in February, before we see the upcoming talk of the Federal Reserve Vice President and member of the Federal Market Commission Open Randall Quarles about the overall precautionary policy at the spring meeting of the Open Market Shadow Committee in New York.

Technical Analysis

The USDJPY is retesting a fresh retest of the pivotal resistance levels between 110.76 and 110.86, accompanied by Stochastic move in overbought areas, pending a rebound on the rebound to resume the bearish correction which starts at 110.08 and extends to 109.40 After breaking the previous level.

Therefore, we will continue to bias the bearishness over intraday and short term unless the resistance levels mentioned above are breached.

The trading range for today is expected among the support at 110.00 and the resistance at 111.20.

The general trend for today is bearish.

Gold futures fluctuated in a tight range slipping towards the Asian session to see their fifth-session bounce back since late February and the first weekly loss in four weeks and the second consecutive monthly loss as the dollar index rose for the sixth session in eight sessions From its lowest since the fourth of last month according to the inverse relationship between them.

Gold futures for June delivery fell 0.09% to currently trade at $ 1,293.70 an ounce, settling near a three-week low compared to the opening at $ 1,295.00 an ounce. 0.01% to 97.21, with stability near the top in two weeks compared to the opening at 97.20.

Investors are currently looking to the US economy to reveal spending and personal income data that may reflect personal spending rose to 0.3% from 0.5% in December and personal income rose to 0.3% versus a 0.1% decline in December, While the Personal Consumption Expenditures Index (CPI), which inhibits growth, may show 0.2% in January.

This comes ahead of the release of the Chicago PMI, which may reflect a contraction of 61.1 vs. 64.7 in February, to reveal housing market data with the release of the New Home Sales Index, which may reflect a 2.1% 625 thousand homes compared to a 6.9% decline at about 607 thousand homes in January.

In conjunction with the final reading of the University of Michigan consumer confidence index, which may reflect the stability of the wideness at 95.8, unchanged from the initial reading this month, compared to 97.8 in February, before we see the expected talk to the Deputy Governor of the Federal Reserve and member of the Federal Committee For the open market Randall Quarles about the overall precautionary policy at the spring meeting of the Shadow Committee for the Open Market in New York.

Technical Analysis

The price of gold broke the level of 1302.60 after stability with a daily closing below it, which puts the price under the downward correction again, and we expect the continuation of the downward trend to visit the level of 1275.30, which represents our main goal next.

Therefore, the bearish trend will be likely in the coming sessions unless the breach of 1302.60 is breached above it, noting that breaking the 1275.30 level will extend the downside wave to reach 1253.20 as the next major station.

The trading range for today is among the key support at 1275.00 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 rebound to its second-lowest session since March 8, while it is still the second consecutive weekly loss against the US dollar on the eve of economic developments and data Which is expected on Friday by the Eurozone economies and the US economy, the world's largest economy.

At 4:50 am GMT, the pair rose 0.07% to 1.1229, compared to the opening at 1.1225 after the pair reached a high of 1.1235 and a low of 1.1223.

The markets for Germany, the biggest economy in the eurozone, are looking for a reading of the Retail Sales Index, which may reflect a 1.0% drop from a 3.3% rise in January. The same index may see growth slowing to 2.2% from 2.6%. The reading of the import price index, which may show a rise of 0.5% vs. 0.2% in January.

Ahead of France's second-biggest economy, consumer spending, which could reflect slowing growth to 0.2% versus 1.2% in January, and the release of France's inflation data with the release of a preliminary reading of the Consumer Price Index 0.9% versus stability at zero levels in February.

Leading to the release of labor market data for Germany, which may reflect a contraction of the decline to 10 thousand to 21 thousand in the February Unemployment Change Index and to the initial reading of the consumer price index of Italy, the third largest economy in the euro area, which may show accelerated growth To 0.3% from 0.2% in February.

On the other hand, investors are looking for the US economy to reveal spending and personal income data that may reflect personal spending rose to 0.3% from 0.5% in December and personal income rose to 0.3% from 0.1% December, while the reading of the Personal Consumption Expenditures (CPI) indicator may show growth stabilizing at 0.2% in January.

This comes ahead of the release of the Chicago PMI, which may reflect a contraction of 61.1 vs. 64.7 in February, to reveal housing market data with the release of the New Home Sales Index, which may reflect a 2.1% 625 thousand homes compared to a 6.9% decline at about 607 thousand homes in January.

With the release of the University of Michigan's consumer confidence index, which may reflect the stability of the widening at 95.8, little change from the initial reading this month and 97.8 in February, before we see the upcoming talk of the Federal Reserve Vice President and member of the Federal Market Commission Open Randall Quarles about the overall precautionary policy at the spring meeting of the Open Market Shadow Committee in New York.

Technical Analysis

EURUSD succeeded in confirming the breach of 1.1240 after closing the daily candle below it, pushing towards further decline in the coming period, noting that our next target is at 1.1180, which represents 61.8% Fibonacci retracement of the entire measured height from 1.0333 to 1.2553, indicating the importance and sensitivity of this level in determining the short term and medium term direction.

We note that breaking the target will extend the downside wave to target 1.1100 and go far to 1.0857, while its resistance to the current negative pressure and the rebound to breach the 1.1300 level will stop the bearish wave and lead the price to start recovery attempts targeting the 1.1443 areas initially.

The trading range for today is expected between 1.1130 and 1.1300 support

The general trend for today is bearish

The Australian dollar is fluctuating against the US dollar in a tight range that tends to rise after the two consecutive sessions against the US dollar. After the economic data released by the Australian economy and on the eve of developments and economic data expected Friday by the US economy, the largest economy in the world.

At 05:43 am GMT, the AUDUSD rose 0.13% to 0.7093 compared to the opening levels of 0.7075 after recording a high of 0.7100 and a low of 0.7073.

On the Australian economy, private sector credit results for the month of February were 0.3% better than the previous and expected 0.2%.

On the other hand, investors are looking for the US economy to reveal spending and personal income data that may reflect personal spending rose to 0.3% from 0.5% in December and personal income rose to 0.3% from 0.1% December, while the reading of the Personal Consumption Expenditures (CPI) indicator may show growth stabilizing at 0.2% in January.

This comes ahead of the release of the Chicago PMI, which may reflect a contraction of 61.1 vs. 64.7 in February, to reveal housing market data with the release of the New Home Sales Index, which may reflect a 2.1% 625 thousand homes compared to a 6.9% decline at about 607 thousand homes in January.

With the release of the University of Michigan's consumer confidence index, which may reflect the stability of the widening at 95.8, little change from the initial reading this month and 97.8 in February, before we see the upcoming talk of the Federal Reserve Vice President and member of the Federal Market Commission Open Randall Quarles about the overall precautionary policy at the spring meeting of the Open Market Shadow Committee in New York.

Technical Analysis

The AUDUSD continues to fluctuate around the support of the bullish intraday channel, noting that Stochastic is attempting to gain positive momentum, while the pair is waiting to stimulate the resumption of the main upside trend targeting 0.7250.

A breach of 0.7110 will reinforce the positive outlook, while a break of 0.7044 will halt the expected rally and press the price to turn bearish.

The trading range for today is expected among the support at 0.7044 and resistance at 0.7160

The general trend for today is bullish

Amazon shares are testing the support level 1765.27 and could not breach it to sustain the bullishness 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.

The stochastic moves in a neutral sideways path.

The expected movement between 1765.27 support and 1890.43 resistance.

The general direction of the movement: neutral.

EURUSD

The pair is trading below 1.1240 in anticipation of the Brexit vote results. If Theresa May’s deal is rejected again, the pair may drop following the GBP.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is below the oversold territory and is moving horizontally. Stoch are trying to grow.

Trading recommendations:

Sell the pair against the backdrop of negative sentiment if it doesn’t grow above 1.1240 with a possible target of 1.1185.

EURUSD

The pair is trading above 1.1250, while remaining in a short-term downtrend due to the expected recession in the eurozone and the Brexit situation.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is above the oversold territory and is moving horizontally. Stoch are trying to reverse upwards.

Trading recommendations:

Sell the pair after it goes below 1.1250 with a possible target of 1.1185.

The US dollar fell during the Asian session to see its rebound for the second consecutive session of its highest since March 22 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 Thursday by the US economy, including the FOMC members.

At 06:05 GMT, the USDJPY dropped 0.40% to 110.07 from the opening levels at 110.51 after the pair hit a session low of 110.05 and a high of 110.53.

Investors are looking forward to what Federal Reserve Vice Governor and Federal Open Market Committee (FOMC) Chairman Randall Quarles will talk about on the Financial Stability Board's agenda at the European Central Bank's policy conference in Frankfurt. It may reflect a rise of 1K to 222K.

In parallel to the reading of GDP reading, which may reflect the contraction of the largest economy in the world to 2.4% compared to 2.6% growth in the previous preliminary reading for the fourth quarter compared to the expansion of 3.4% in the third quarter, while the same index may reflect the price stability of growth at 1.8%, unchanged from the previous preliminary reading for the fourth quarter and the previous reading for the third quarter.

To show housing data, which may reflect slower growth of existing home sales 0.1% from 4.6% in January. The Federal Reserve cut its growth forecast, raised its forecast for unemployment and dropped its expectations for a rate hike this year amidst the province. On its expectations of raising it once next year, with its confirmation of interest stabilization and the end of the reduction of bond repurchases in September.

Technical analysis:

The USDJPY pair rebounded significantly after retesting 110.76 yesterday to reach our first target at 110.08. As noted in our latest report, the pair needs to breach this level to confirm the rally towards our next target at 109.40.

From here, our bearish outlook remains effective for the coming period supported by the negative pressure formed by SMA 50 with stability below 110.76 - 110.86 important for the continuation of the expected decline.

The trading range for today is expected among the support at 109.40 and the resistance at 110.76

The general trend for today is bearish

Gold futures fluctuated in a narrowly bullish range during the Asian session to see their rebound from its lowest since March 21 as the US dollar index declined to show a rebound from its highest since 13 this month according to the inverse relationship between them on the eve of a new round Of China-US trade talks in Beijing as well as economic developments and data expected on Thursday by the US economy.

Gold futures for June delivery rose 0.04% to currently trade at $ 1,315.70 per ounce compared to the opening at $ 1.315.00 an ounce. The US dollar index fell 0.09% to 96.87 compared to the opening at 96.97.

Investors are looking forward to what Federal Reserve Vice Governor and Federal Open Market Committee (FOMC) Chairman Randall Quarles will talk about on the Financial Stability Board's agenda at the European Central Bank's policy conference in Frankfurt. It may reflect a rise of 1K to 222K.

In parallel to the reading of GDP reading, which may reflect the contraction of the largest economy in the world to 2.4% compared to 2.6% growth in the previous preliminary reading for the fourth quarter compared to the expansion of 3.4% in the third quarter, while the same index may reflect the price stability of growth at 1.8%, unchanged from the previous preliminary reading for the fourth quarter and the previous reading for the third quarter.

To show housing data, which may reflect slower growth of existing home sales 0.1% from 4.6% in January. The Federal Reserve cut its growth forecast, raised its forecast for unemployment and dropped its expectations for a rate hike this year amidst the province. On its expectations of raising it once next year, with its confirmation of interest stabilization and the end of the reduction of bond repurchases in September.

Technical analysis:

The price of gold is showing slight negative trading to settle below the support of the bullish intraday channel, noting that Stochastic is showing saturation in the sell now waiting for the price to rebound upwards to resume the expected bullish main direction for the coming period targeting the 1346.73 area.

The continuation of the suggested bullish wave depends on stability above 1302.60, as breaking this level will put the price under negative pressure with the next key target at 1275.30.

The trading range for today is among the support at 1300.00 and resistance at 1330.00.

The general trend for today is bullish.

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session to see its rebound to its second-lowest session since March 11 against the US dollar on the eve of developments and economic data expected on Thursday by the Eurozone economies and the US economy. 

At 4:50 am GMT, the EURUSD rose 0.07% to 1.1252, compared to the opening at 1.1244 after the pair hit a session high of 1.1258 and a low of 1.1258.

The markets are looking for the euro zone's biggest economy to show inflation data with the CPI reading, which could reflect a 0.6% increase from 0.4% in February, before we see the same indicator for Spain as the region's fourth-largest economy Which may also show accelerated growth to 1.4% versus 1.1% in February.

This comes before we see the Euro-Zone economy as a whole, the annual release of the M-3 money supply, which may reflect the accelerated growth to 3.9% versus 3.8% in January coinciding with the disclosure of the annual reading of the index of private loans, which may also clarify Growth accelerated to 3.3% from 3.2% in January.

The European Union's new deadline for the exit of the United Kingdom from the European Union was set for April 12 saying it had only two weeks before the British parliament to determine the fate of the exit.

In the same vein, also expressed on Wednesday the chief EU commissioner on the issue of the exit of the United Kingdom from the European Union Michel Barnier that Britain can still remain within the Union and retreat from exit adding that all possibilities are available before the new deadline for exit and that Britain must bear the consequences the decision to leave the Union explaining that it is up to Britain to take its decision on the issue of exit.

On the other hand, investors are looking forward to what Federal Reserve Vice President and Federal Open Market Committee (FOMC) Chairman Randall Quarles will talk about on the Financial Stability Board's agenda at the European Central Bank's policy conference in Frankfurt, which may reflect a rise of 1 thousand requests to 222 thousand applications.

In parallel to the reading of GDP reading, which may reflect the contraction of the largest economy in the world to 2.4% compared to 2.6% growth in the previous preliminary reading for the fourth quarter, compared to the expansion of 3.4% in the third quarter, while the same index may reflect the price stability of growth at 1.8%, unchanged from the previous preliminary reading for the fourth quarter and the previous reading for the third quarter.

To show housing data, which may reflect slower growth of existing home sales 0.1% from 4.6% in January. The Federal Reserve cut its growth forecast, raised its forecast for unemployment and dropped its expectations for a rate hike this year amidst the province. On its expectations of raising it once next year with its confirmation of interest stabilization and the end of the reduction of bond repurchases in September.

Technical analysis:

EURUSD is trading near the first target at 1.1240, and the pair is showing a continuous bearish trend in a signal to break the mentioned level and then opening the way towards the next target at 1.1180.

Therefore, we will maintain our bearish outlook with support from SMA 50, noting that a break of 1.1278 will halt the expected decline and push the price to start short and short term recovery attempts.

The trading range for today is expected between 1.1170 and 1.1310 support

The general trend for today is bearish