Analytic reviews

The US dollar fluctuated in a tight range slipping towards the Asian session to see its fifth straight session rebound since March 6 against the Japanese Yen amid tight economic data by the Japanese economy, the world's third-largest economy due to the Spring Equinox holiday. And on the eve of developments and economic data expected Thursday by the US economy, the largest economy in the world.

At 6:01 am GMT, the USDJPY dropped 0.15% to 110.53 compared to the opening levels at 110.70 after the pair hit its lowest level since February 27 at 110.41, while its highest in trading Session at 110.75.

Investors are currently waiting for the US economy to read the Jobless Claims for the week ending March 16th, which may reflect a decrease of 3K to 226K versus 229K. Of the month, down by 8 thousand applications to 1,768 thousand applications against 1,776 thousand applications.

This comes in conjunction with the release of the Philadelphia Industrial Index, which may reflect a widening to 4.6 against a contraction of 4.1 in February, before we see the leading index reading, which may rise 0.1% versus 0.1% January, coming hours after the March 19-20 meeting of the Federal Open Market Committee in Washington.

Fed monetary policy makers have agreed to keep interest rates between 2.25% and 2.50% and move forward with a $ 50bn rebound in bond purchases until September as the Federal Reserve cuts its growth forecast and raises its forecast for rates Unemployment and the decline in the expectations of raising interest rates during the current year, while maintaining their expectations to raise once in the next year 2020.

Technical Analysis

The pair fell strongly against the yen yesterday to succeed in achieving our first target at 110.76, and starts today further down to reach the second goal 110.35, noting that the price completed the formation of a double top model signals the direction of the price to achieve further decline in the short term, The next target reaches the 109.40 areas.

Therefore, we expect the downside movement to continue in the coming sessions if the price does not breach the 110.76 level and stability above it.

The trading range for today is expected among the support at 109.40 and the resistance at 111.00

The general trend for today is bearish

Gold futures rallied during the Asian session, their highest since late February as the US dollar index fell for the ninth session in 11 sessions of its highest since June 21, 2017 according to the inverse relationship between them on the eve of developments And economic data expected Thursday by the US economy, the largest economy in the world.

Gold futures for April delivery rose 0.41% to currently trade at $ 1,317.90 an ounce, the highest in three weeks compared to the opening at $ 1,312.70 an ounce, amid a decline of the US dollar index of 0.01% to Levels of 95.90, showing a continuation of the rebound from the top in nearly two years compared to the opening at 95.91.

Investors are currently waiting for the US economy to read the Jobless Claims for the week ending March 16th, which may reflect a decrease of 3K to 226K versus 229K. Of the month, down by 8 thousand applications to 1,768 thousand applications against 1,776 thousand applications.

This comes in conjunction with the release of the Philadelphia Industrial Index, which may reflect a widening to 4.6 against a contraction of 4.1 in February, before we see the leading index reading, which may rise 0.1% versus 0.1% January, coming hours after the March 19-20 meeting of the Federal Open Market Committee in Washington.

Fed monetary policy makers have agreed to keep interest rates between 2.25% and 2.50% and move forward with a $ 50bn rebound in bond purchases until September as the Federal Reserve cuts its growth forecast and raises its forecast for rates Unemployment and the decline in the expectations of raising interest rates during the current year, while maintaining their expectations to raise once in the next year 2020.

Technical Analysis

The price of gold opens higher today to reach our first target at 1320.00, and the price continues to move within the bullish intraday channel which supports the chances of a bullish wave extending to reach our next target at 1346.73.

Therefore, we continue to favor the bullish trend in the coming sessions supported by SMA 50, taking into consideration that the break of 1302.60 will stop the expected rally and press the price to return to the downside correction.

The trading range for today is among the key support at 1305.00 and resistance at 1340.00

The general trend for today is bullish

EURUSD

The pair is above the existing level in anticipation of the Fed’s final monetary policy decision. If the bank shows the intention to stop hiking interest rates, it will support the demand for risk assets and the pair. At the same time, if the regulator’s decision isn’t a clear one and reflects its intention to make decisions concerning interest rates based on the current economy situation, the pair will be put under pressure.

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

Trading recommendations:

If the pair goes below 1.1335, there’s a possibility of falling to 1.1280. At the same time, if it goes above 1.1360, it may trigger further local growth to 1.1400.

The US dollar fluctuated in a tight range in the Asian session against the Japanese Yen following developments and economic data followed Wednesday by the Japanese economy, the third largest economy in the world in conjunction with the events of the meeting of the Federal Open Market Committee in Washington and on the eve of the press conference of the Governor of the Federal Reserve Jerome Powell later in the day.

At 06:05 GMT, the USDJPY rose 0.15% to 111.56 compared to the opening levels at 111.39 after the pair reached a high of 111.69 and a low of 111.31.

We have followed the Bank of Japan's release of the minutes of the Bank's meeting held on the 15th of this month, during which it kept interest rates negative at 0.10%, which was expected in the markets at the time, with the release of the statement of monetary policy when he talked about the growing Foreign risk, which threatens to hinder fragile economic recovery, amid signs of weak exports, which saw the largest decline in two years by the beginning of the year.

We note that the weak demand for Japanese exports by China in January followed the slowdown of China's economic growth over the past year at its lowest pace since 1990 as a result of the US-China trade war following Washington under the leadership of US President Donald Trump For trade protectionism, may eventually weigh heavily on industrial production in Japan, which has seen its worst performance in the year.

The Japanese central bank's monetary policy makers maintained their view that the economy was moderately expanding, but added in the latest monetary policy statement that "exports and production were affected by the slowdown in overseas growth", except that "the economy was moderately expanding" only in the previous statement, The context, Bank of Japan Governor Haruhiko Kuroda said at a press conference after the meeting on moving forward stimulus to support the economy.

Japan's Economy Minister Toshimitsu Motegi on Tuesday expressed his hope that the Bank of Japan will continue to do its best to meet the inflation target and support the growth of inflationary pressures in the world's third-largest economy, as opposed to Japanese Finance Minister Taro Aso That citizens in his country are not angry about not achieving the inflation target and that there is no need to focus on the inflation target only.

On the other hand, investors are now eyeing the FOMC meeting in Washington on March 19-20 amid expectations that Fed monetary policy makers will keep interest rates at 2.25% to 2.50% and move forward. Cut back on bond purchases of $ 50 billion a month and market pricing to raise the federal funds rate once this year.

Investors are waiting for Federal Open Market Committee members to reveal their expectations for growth and unemployment as well as inflation and the future of interest rates for the next three years ahead of Fed Chairman Jerome Powell's forthcoming press conference, which recently announced the Fed's intention to be patient and monitor economic data before resuming policy tightening. Cash or not

Technical Analysis

The USD / JPY pair opened higher today to test the pivotal resistance 111.67, noting that Stochastic is reaching overbought areas now, awaiting a rebound on the pair to resume the expected bearish trend for the coming period, which depends on stability below the mentioned level.

The awaited negative targets start at 110.76 then 110.35, while the breach of the key 111.67 key resumption of the main trend to move towards areas extending to 113.00 in the near term.

The trading range for today is among the key support at 110.76 and resistance at 112.07

The general trend for today is bearish

Gold futures fluctuated in a tight range slipping into the Asian session to see their rebound for the second session since March 13 as the US dollar index rose for the first time in four sessions, rebounding to a second low since early this month. The opposite relationship between them coincided with the meeting of the Federal Open Market Committee in Washington and on the eve of the press conference of Federal Reserve Governor Jerome Powell on Wednesday.

At 03:38 GMT, gold futures for April delivery fell 0.14% to currently trade at $ 1,304.60 per ounce from the opening at $ 1,306.00 an ounce. The US dollar index rose 0.07% to 96.48 compared to the opening at 96.40.

The markets are now looking at the FOMC meeting in Washington on March 19-20 amid expectations that Federal Reserve policy makers will keep interest rates at 2.25% to 2.50% and move forward with cuts in buybacks Bonds at $ 50 billion a month and market pricing to raise the federal funds rate once this year.

Investors are waiting for Federal Open Market Committee members to reveal their expectations for growth and unemployment as well as inflation and the future of interest rates for the next three years ahead of Fed Chairman Jerome Powell's forthcoming press conference, which recently announced the Fed's intention to be patient and monitor economic data before resuming policy tightening. Cash or not.

Technical Analysis

The price of gold is showing some slight bearish bias towards the pivotal support of 1301.60, where the 50 SMA meets to add more strength to it, while Stochastic is shedding negative momentum and reaching oversold areas.

Therefore, these factors encourage us to maintain our bullish outlook for the coming period as the price is organized within a bullish intraday channel, indicating that our main targets start at 1320.00 and extend to 1346.73, while stability above 1302.60 is an important continuation of the expected bullishness.

The trading range for today is among the support at 1295.00 and resistance at 1320.00.

The general trend for today is bullish.

The single currency of the European Union region fluctuated in a tight range in the Asian session to see its rebound to its second-highest session since March 4 against the US dollar on the brink of economic developments and data expected Wednesday by the largest eurozone economies. The meeting of the Federal Open Market Committee in Washington.

At 04:58 GMT, the EURUSD dropped 0.05% to 1.1346 compared to the opening at 1.1346, after reaching a low of 1.1343, while reaching a high of 1.1357.

The markets are currently waiting for the euro zone's biggest economy to see the Producer Price Index (PPI), an initial indicator of inflationary pressures, which could reflect a contraction of growth to 0.2% from 0.4% in January. 2.9% compared to 2.6% in the previous annual reading for the month of January.

On the other hand, investors are now eyeing the FOMC meeting in Washington on March 19-20 amid expectations that Fed monetary policy makers will keep interest rates at 2.25% to 2.50% and move forward. Cut back on bond purchases of $ 50 billion a month and market pricing to raise the federal funds rate once this year.

Investors are waiting for Federal Open Market Committee members to reveal their expectations for growth and unemployment as well as inflation and the future of interest rates for the next three years ahead of Fed Chairman Jerome Powell's forthcoming press conference, which recently announced the Fed's intention to be patient and monitor economic data before resuming policy tightening. Cash or not.

Technical Analysis

The EUR / USD pair is floating in a sideways trend as shown in the chart above, and the price needs to breach the 1.1360 level to confirm the resumption of the expected bullishness over intraday basis, where we await the 1.1420 - 1.1443 mainly.

SMA 50 continues to support the price from the bottom while Stochastic is attempting to shed its negative momentum and therefore we will maintain our bullish trend for today unless the 1.1290 level is breached and stability below it.

The trading range for today is expected among the key support at 1.1290 and resistance at 1.1440

The general trend for today is bullish

The Australian dollar fluctuated in a narrow range slipping into the Asian session to see its rebound to its second-highest session since the beginning of this month against the US dollar following developments and economic data followed Wednesday by the Australian economy and on the eve of the launch of the meeting of the Federal Open Market Committee in Washington.

At 02:48 GMT, the Australian dollar was down 0.3% at 0.7055 compared to the opening levels of 0.7085, after reaching a high of 0.7090.

We have followed the speech of Assistant Governor of the Reserve Bank of Australia, Trevor Kent, under the title "Bonds and Standards" at the Sydney Summit of Kangnos, before we see the minutes of the Reserve Bank of Australia meeting held on the fifth of this month, Cash rates were set at 1.50% for the 29th consecutive meeting, which was then agreed.

Central Bank of Australia governor Philippe Lowe noted that interest rates would support job creation and move forward with the goal of inflation, adding that achieving the goal of full employment is crucial because the labor market is central to the expected recovery of inflation, Labor will increase wage growth in some way that should boost household income and expenditure and provide a balanced weight to the recent fall in house prices.

Lowe also said that the recovery in household spending in Australia is expected to lead to inflationary growth, of course, and that inflationary pressures could be rebounding for other reasons, considering that the likelihood of this happening at the moment is low, which suggests that inflation growth depends Currently on the strength of the labor market, which reflects a good performance other than other economic indicators that reflect a more softer image.

Loye noted that markets are looking to reveal growth data for the fourth quarter, noting that growth data for the second half of last year 2018 were clearly less than the first half, reflecting a global image in many countries, including Australia, adding that there is tension Growing data from the strong labor market and more resilient GDP data and that the Australian Central is devoting extensive resources to understanding this tension.

On the other hand, investors are now eyeing the FOMC meeting in Washington on March 19-20 amid expectations that Fed monetary policy makers will keep interest rates at 2.25% to 2.50% and move forward. Cut back on bond purchases of $ 50 billion a month and market pricing to raise the federal funds rate once this year.

Investors are waiting for Federal Open Market Committee members to reveal their expectations for growth and unemployment as well as inflation and the future of interest rates for the next three years ahead of Fed Chairman Jerome Powell's forthcoming press conference, which recently announced the Fed's intention to be patient and monitor economic data before resuming policy tightening. Cash or not.

Technical Analysis

The AUDUSD is showing some downside bias towards the pivotal support of 0.7044, where the price is affected by stochastic negativity, and the price needs to remain above this level. The bullish scenario remains valid for the coming period, waiting for a breach of 0.7120 to facilitate the move towards our next positive target. At 0.7250.

Keep in mind that a break of 0.7044 will put the price under negative pressure with key targets starting at 0.6900.

The trading range for today is expected among the support at 0.7020 and resistance at 0.7150

The general trend for today is bullish

Aeroflot is moving below the 50 SMA which is pushing it to test the 99.49 support level at which the averages are at 7-20.

As the price tried to test it several times during the current week and could not break it as the 20 moving currency is strong support for the price at this level.

Stochastic is in a bearish direction in reference to a weak track and is approaching the oversold area.

The trading range between support 95.15 and resistance 102.58.

The general trend of the movement is bearish.

USDJPY

The pair has gone below support level of a short-term uptrend. It may return to the downtrend if investors’ sentiment concerning the possible cessation of the Fed’s interest rates hike course weakens.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages suggest selling. RSI is below the level of 50% and indicates a possible decline of the price. Stoch are moving down.

Trading recommendations:

If the pair goes below 111.15, it may drop further to 110.60.

The US dollar fluctuated in a narrow range slipping into the Asian session to see its rebound for the second consecutive session of its highest since March 6 against the Japanese yen amid tight economic data on Tuesday by the Japanese economy, the world's third largest economy and on the eve of the launch of events Meeting of the Federal Open Market Committee in Washington.

At 05:50 GMT, the USDJPY dropped 0.15% to 111.26 from the opening levels of 111.43 after recording a low of 111.16 and a high of 111.45.

The markets are now looking to kick-start the FOMC meeting today and Wednesday in Washington amid expectations that Federal Reserve policy makers will keep rates between 2.25% and 2.50% and move forward with a 50% $ 1 billion per month and market pricing to raise the federal funds rate once this year.

Investors are also looking to expose FOMC members to expectations of growth and unemployment as well as inflation and future interest rates for the next three years ahead of Fed Chairman Jerome Powell's forthcoming press conference, which recently announced the Fed's intention to be patient and monitor economic data before resuming policy tightening. Cash or not.

Technical analysis

USD / JPY has not been able to hold steady above 111.67, trading yesterday's negative negativity and breaking support for the ascending channel appearing in the image, which signals the direction of the price to reverse and the price approaches the 111.00 pivotal support, The level will confirm the continuation of the bearish trend towards 110.76 then 110.35 as the next negative stations.

Therefore, the bearishness will be likely for today if the price does not accelerate to breach the 111.67 level and stability above it.

The trading range for today is among the key support at 110.35 and resistance at 111.70

The general trend for today is bearish