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Cisco is continuing its upward trend as it managed to breach the top at 51.95 after testing support at 50.60. The price continues to achieve new highs it has never achieved before.

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

Stochastic is entering the overbought area so we can see some correction in price action

It should be noted that there may be a strong correction movement as a result of profit taking on the price, pushing the price down towards the support level 49.51

The general trend of the movement is bullish

The Australian dollar fell during the Asian session as it rebounded to the second session of its highest since March 4 against the US dollar and the economic developments that followed it on the Australian economy and on the eve of developments and economic data expected Thursday by the US economy, the largest economy in the world.

At 02:51 GMT, the AUDUSD fell 0.31% to 0.7072 compared to the opening levels of 0.7094, after recording a low of 0.7068 and a high of 0.7068.

We followed the Australian economy from the Melbourne Institute reading of consumer expectations of inflationary pressures, which showed accelerated growth to 4.1% versus 3.7% in February, before we saw the economy of China's largest trading partner of Australia economic data disappointing from the war Which broke out between Beijing and Washington in the middle of last year and which is currently witnessed between the two parties.

On the other hand, investors are currently waiting for the US economy to read the index of claims for the week ending on March 9th, which may reflect a rise of 2 thousand requests to 225 thousand applications, in conjunction with the publication of the index of import prices, which may reflect a rise of 0.3 Versus 0.5% in January, while the annual reading of the index may point to a decline of 1.6% from 1.7%.

To reveal the housing market data for the largest economy in the world with the release of the new home sales index, which may reflect a slowdown in growth to 0.2% to about 622 thousand homes compared to 3.7% at about 621 thousand homes in December, US Senator Robert Portman expressed his confidence in US Trade Representative Robert Laitheizer and his country's strong position in the ongoing trade negotiations with China.

Technical Analysis

The AUDUSD is trading in a slightly bearish direction on its way to a fresh test of 0.7044. The price is affected by Stochastic and SMA 50, but the upside is still valid for today based on stability above the mentioned level. Going towards our positive targets that start at 0.7152 and extend to 0.7250.

Keep in mind that breaking 0.7044 will stop the suggested positive scenario and press the price to drop again, beginning with negative targets at 0.6900.

The trading range for today is expected among the support at 0.7000 and the resistance at 0.7120

The general trend for today is bullish

The US dollar fluctuated in a tight range slipping towards the Asian session to see its fourth session rebound in seven sessions from its highest since December 20 against the Japanese yen following developments and economic data that followed the Japanese economy, the third largest economy in the world and on the brink of developments and data Economic outlook on Wednesday by the US economy, the world's largest economy.

At 05:52 GMT, the pair dropped 0.02% to 111.34 from the opening level at 111.36 after recording a low of 111.14 and a high of 111.38.

We followed the Japanese economy to release inflation data with the release of the Producer Price Index (PPI), a preliminary index of inflationary pressures, which showed 0.2% growth versus 0.6% contraction in January, beating expectations of 0.1% growth. The same index accelerated growth to 0.8% versus 0.6%, also surpassing forecasts that indicated accelerated growth to 0.7%.

Markets are also looking to release the Producer Price Index (PPI), a preliminary indicator of inflationary pressures, which may reflect a 0.2% expansion versus 0.1% contraction in January, while the annual reading of the same index may show a slower growth to 1.9% versus 2.0% Previous for January.

The core reading of the PPI shows a slowdown in growth to 0.2% from 0.3% in January, while the core annualized reading of the same index may reflect a 2.6% growth rate unchanged from the previous December reading, Before we see a reading of the construction spending index, which could reflect a rise of 0.4% versus a 0.6% decline in December.

Technical Analysis

The USD / JPY continues to move in the sideways range between 110.96 and resistance at 111.37, although the movement is inclined to rise but only if 111.37 breaks above and closes above it.

The movement is between the moving averages 7 and 20 from the bottom and the 50 moving average from the top which also constitute support levels and resistance to the price.
The stochastic in a sideways course also tends to move towards the oversold area which may increase the positive pressure on the price and push it to test resistance at 111.37.

The trading range between resistance 111.37 and support 110.96 and the general trend depends on the breach of one of the mentioned levels

Gold prices rose during the Asian session to continue to rise for the fifth session in a row amid the decline of the dollar index, according to the inverse relationship between them. Ahead of economic data to be released from the US economy on Wednesday.

During the Asian session, gold rose 0.25% to currently trade at $ 1,305.00 per ounce from the opening at $ 1,301.80 per ounce, while the US dollar index fell 0.01% to 97.01 levels, showing a two-year rally from the top against the opening at 97.02.

Today, we expect the US economy to reveal the reading of retail sales, which account for about half of consumer spending, which accounts for more than two thirds of the US gross domestic product, which could reflect a 0.5% drop from the 1.2% rise in December, while the core reading of the same index Growth was steady at 0.1%, unchanged from December.

Markets are also looking to release the Producer Price Index (PPI), a preliminary indicator of inflationary pressures, which may reflect a 0.2% expansion versus 0.1% contraction in January, while the annual reading of the same index may show a slower growth to 1.9% versus 2.0% Previous for January.

The core reading of the PPI shows a slowdown in growth to 0.2% from 0.3% in January, while the core annualized reading of the same index may reflect a 2.6% growth rate unchanged from the previous December reading, Before we see a reading of the construction spending index, which could reflect a rise of 0.4% versus a 0.6% decline in December.

Technical Analysis

Gold could break through the resistance level 1301.60 which was the target during this week as it managed to close and continue trading today above this level to end gold correction wave falling back to the upward trend, which has been trading since last November.

Currently, the moving averages are moving below the price to give it the strength and stability to continue the uptrend and reach the moving average 20 which seems to be moving downtrend and preparing to cross with the rest of the averages to form the ideal bullish order.

Stochastic has reached the oversold area after the breach of the resistance level. This is a strong signal that a correction may be made towards the 1301.60 level, but it is important that the price remains above the mentioned level after the stochastic exit from the overbought area until we continue on the upside.

The bullish trend will be expected for today unless the 1301.60 level is breached and stability below it again.

The trading range for today is among the support at 1295.00 and resistance at 1330.00

The general trend for today is bullish

The euro fluctuated today after the opening of the Asian session in a narrow range tends to stall against the US dollar, before the economic data to be released on Wednesday from the European economy and the US economy.

During the Asian session, the EURUSD fell 0.05% to 1.1281, compared to the opening at 1.286 after reaching a high of 1.1288.

Looking ahead to today's economic data from Italy, the third largest economy in the eurozone, the Unemployment Rate Index will rise to 10.5% from 10.2% in the third quarter before we see the biggest eurozone economies reading the industrial production index, which may reflect a rise of 1.0 Versus 0.9% decline last December, while the annual reading of the index may show a decline to 2.1% from 4.2%.

Markets are also looking to release the Producer Price Index (PPI), a preliminary indicator of inflationary pressures, which may reflect a 0.2% expansion versus 0.1% contraction in January, while the annual reading of the same index may show a slower growth to 1.9% versus 2.0% Previous for January.

The core reading of the PPI shows a slowdown in growth to 0.2% from 0.3% in January, while the core annualized reading of the same index may reflect a 2.6% growth rate unchanged from the previous December reading, Before we see a reading of the construction spending index, which could reflect a rise of 0.4% versus a 0.6% decline in December.

Technical Analysis

Yesterday, the EUR managed to breach the 1.1257 resistance level and close above it to start with the upside scenario and the resistance target 1.1312, which has the 20 MA which is a very important move to return to the upside.

The bullish trend for the day is bullish as long as trading remains above 1.1260

The Australian dollar fell during the Asian session as its second session of the March 6 high against the US dollar reversed its economic developments and data on the Australian economy and on the eve of economic developments and data expected Wednesday by the US economy, the largest economy in the world.

At 02:30 GMT, the AUDUSD dropped 0.38% to 0.7055 compared to the opening levels at 0.7082, the pair's highest level during the session, while the pair reached a low of 0.7049.

The Australian economy was followed by a reading of the Wesbock Consumer Sentiment Index, which showed a contraction of 98.8 versus 103.8 last February, hours after Assistant Governor of the Reserve Bank of Australia in charge of the Risk Management Committee, Jay DeBill, In Sydney under the title "Climate Change and Economics", on the importance of incorporating climate models into general economic models.

On the other hand, investors are currently looking for the US economy to reveal the reading of retail sales, which account for about half of consumer spending, which accounts for more than two thirds of the US gross domestic product, which may reflect a decline of 0.5% compared with a rise of 1.2% in December, while may The core reading of the index itself shows growth stability at 0.1%, unchanged from December.

The markets are also looking for the PPI, which is a preliminary index of inflationary pressures, which could reflect a 0.2% expansion versus a 0.1% contraction in January, while the annual reading of the same index may show a slowdown in growth to 1.9% Compared with 2.0% in the previous January reading.

The core reading of the PPI shows a slowdown in growth to 0.2% from 0.3% in January, while the core annualized reading of the same index may reflect a 2.6% growth rate unchanged from the previous December reading, Before we see a reading of the construction spending index, which could reflect a rise of 0.4% versus a 0.6% decline in December.

Technical Analysis

The AUDUSD is showing some slight bearishness now to test the pivotal support at 0.7044, and as long as the price is above this level, our bullish outlook remains valid, awaiting targeting of 0.7125 and 0.7250 as the next major stops.

Keep in mind that a break of 0.7044 and stability below it will press the price to resume the main descending wave with the next target at 0.6900.

The trading range for today is expected among the support at 0.7000 and the resistance at 0.7120

The general trend for today is bearish

Aeroflot was able to reach the resistance level of 102.60, which was the target of the bullish movement to bounce back to retest the support 99.49

The price is moving below the moving average 50 which it is pushing and pushing to retest the support level of 99.49 where the averages are at 7-20

The Stochastic is out of the overbought zone in a bearish direction, indicating the weakness of the bullish path and the beginning of the bearish correction wave The trading range between support 95.15 and resistance 102.58

The general trend of the movement is bearish

EURUSD

The pair remains still above 1.1280 in anticipation of the Brexit vote in the British Parliament. If Theresa May’s deal is once again rejected and the MPs decide to ask the EU to prolong the talks, they pair may receive support. At the same time, the lack of certainty may bring it down.

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

Trading recommendations:

If the pair drops below 1.1280 against the backdrop of negative sentiment, it may go further down to 1.1240.

GBPUSD

The pair is above 1.3185. If Theresa May’s Brexit talks in Strasbourg don’t bring fruit, while the British Parliament once again rejects the Prime Minister’s deal, the GBP may be put under the local pressure.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is below the level of 50% and is indicating weaker growth. Stoch are reversing downwards and leaving the overbought territory.

Trading recommendations:

If the pair drops below 1.3185 against the background of negative sentiment, it may go further down to 1.2955.

The Australian dollar fluctuated in a tight range sloping upward during the Asian session to see its third straight session retreat since January 4 against the US dollar following a recorded conversation by Federal Reserve Governor Jerome Powell and following the economic developments and data that followed on the Australian economy On the eve of the talk of Deputy Reserve Bank of Australia Governor Jay DeBill, in addition to the economic developments and data expected on Tuesday by the US economy, the largest economy in the world.

At 02:48 GMT, the AUDUSD rose 0.01% to 0.7071 compared to the opening levels of 0.7070 after recording a high of 0.7081 and a low of 0.7058.

From the Australian economy, we followed the release of the Australian National Bank of Business Confidence Index, which showed a contraction of 2 to 4 in January, coinciding with the release of housing market data with the Home Loan Index reading showing contraction to 2.6% versus 6.0% in December, worse than the 2.0% decline.

Investors are now looking forward to what will be the outcome of a speech by Assistant Governor of the Reserve Bank of Australia in charge of Risk Management Committee Jay DeBill at the Center for Policy Development under the title "Climate Change and Economics" in Sydney.

Today, we expect the US economy to release inflation data with the release of the Consumer Price Index (CPI), which showed a 0.2% growth versus stability at zero levels in January, while the core reading for the same indicator may show a 0.2% In January, the index's annual reading may also reflect a 1.6% growth stability.

The annual Core reading of the CPI may also show a 2.2% growth rate, unchanged from the previous January reading, before we see Federal Reserve Vice President and Federal Open Market Committee member Ellen Bernhard deliver a speech under Entitled "Updating the Law on Community Reinvestment" at the Fair Economy Conference of the Coalition for Reinvestment of National Society in Washington.

Technical Analysis

The AUDUSD traded positively yesterday to close the daily candlestick above 0.7044, which stops the negative scenario suggested in our recent reports and pushes the price to achieve further gains in the coming sessions, with positive targets at 0.7125 and 0.7250.

Therefore, the bullish trend will be expected for today unless the level of 0.7044 is broken and stability below it again.

The trading range for today is expected among the support at 0.7000 and the resistance at 0.7150

The general trend for today is bullish