Analytic reviews

Gold futures traded in a tight range with the opening of trading today as the session opened today during the Asian session of the rebound after Friday's drop before the economic data released on Monday.

In the morning with the opening of the session, gold futures for delivery on April 15 rose 0.21% to currently trade at $ 1,297.20 per ounce compared to the opening at $ 1,294.40 an ounce, while the dollar index rose 0.10% to levels of 96.45, showing a continuous rebound from the lowest in four weeks Compared to the opening at 96.34.

Investors are currently eyeing the US economy for a reading of the Construction Spending Index, which may reflect slowing growth to 0.2% versus 0.8% in November. Fed Governor Jerome Powell noted last weekend that the US economy The situation is good and that the Fed will be quiet and watch the economic risks in the coming period.

Technical analysis:

The price of gold traded lower last Friday to close under the $ 1300.00 barrier now, and the downside correction for the upside wave starts from 1159.70 to 1346.70, where it exceeded 23.6% Fibonacci to move towards the next correction level at 1274.94.

The trend is expected, with attention to the breach of 1302.60 and stability above it will stop the current negative pressure and push the price to start attempts to rise and restore the main trend bullish again.

Trading is below the moving averages which are expected to increase the negative pressure on the price especially if we get a bearish order in the coming days. While the Stochastic is providing more negative feedback

The trading range for today is among the key support at 1275.00 and resistance at 1310.00

The general trend for today is bearish

The euro fell against the US dollar during the Asian session to see the third session low since Feb. 5 against the US dollar on the eve of developments and economic data expected Monday by the economies of the euro area and the US economy, the largest economy in the world.

The EURUSD fell 0.35% to 1.1345 compared to the opening at 1.1383, the pair's highest level during the session, while the pair reached its lowest level at 1.1344. The pair ended the week at 1.1363 before opening the session. This week on a bullish price gap.

Investors are currently waiting for the Spanish economy, the region's fourth-largest economy, to release the Unemployment Change Index, which could reflect a rise of 5.0K from 83.5K in January before the Sintex Consumer Confidence Index for the region as a whole The contraction contracted to 3.1 versus 3.7 in February.

To the eurozone as a whole, with the Producer Price Index (PPI), a preliminary index of inflationary pressures, which could reflect a 0.4% growth versus a 0.8% contraction in December, while the annual reading of the same index may show a slowdown in growth to 2.9% Compared with 3.0% in the previous December reading.

Technical analysis:

The Euro opened the greenback against the USD with a rising price gap to close and close the gap again. The level of support has been breached 1.1367, so we can return to the downside if the price is closed below SMA 50 and target 1.1312

Stochastic gives negative signals for trading. Enter into the oversold area. If you can stay within this area, we will see the Muwaid from the drop in the price movement. Any attempt to exit from this area will increase the possibility of a correction in the price movement.

We reiterate that breaching the resistance will push the price to target 1.1443 and then 1.1550 as initial positive targets, while breaking the support will put the price under negative pressure again, to head towards 1.1180 mainly.

The trading range for today is among the key support at 1.1280 and resistance at 1.1460

The general trend for today is bearish

The Australian dollar fell during the Asian session to reflect a rebound for the fourth consecutive session of its highest since February 21 against the US dollar following developments and economic data that followed the Australian economy and on the eve of developments and economic data expected on Monday by the US economy, the largest economy in the world .

At 02:38 GMT, the AUDUSD fell 0.13% to 0.7085 compared to the opening levels at 0.7109, the pair's highest level during the session, while the pair reached a low of 0.7080. Last week's trading at 0.7077 before opening this week on a bullish price gap.

We followed the Australian economy to reveal preliminary data for the labor market with the publication of the job index reading, which showed a decline to 0.9% compared to 1.8% in January, before we see the CPI reading by the Melbourne Institute ( MI, which showed a 0.1% gain versus a 0.1% decline in January.

To the Australian housing market data, with the construction permits reading showing a rise of 2.5% from 8.1% in December, beating expectations for a 1.5% rise, while the same year's index showed a 28.6% 22.0%, compared to expectations of a 28.9% decline.

Otherwise, markets are looking to unveil Tuesday the RBA's interest rate decision and the Reserve Bank of Australia's interest rate statement, amid expectations that interest rates will remain at 1.50% for the 28th meeting in a row, ahead of Wednesday's speech by the Reserve Bank of Australia Philippe Loe under the title "Housing and Economy Market" at the Australian Financial Action Summit in Sydney.

On the other hand, investors are currently looking for the US economy to release a reading of the construction spending index, which may reflect a slowdown in growth to 0.2% versus 0.8% in November. Fed Governor Jerome Powell noted last weekend that The US economy is in a good position and the Fed will be quiet and watch for economic risks in the coming period.

Technical analysis:

The Australian dollar faced a negative pressure on Friday. The trading session opened today with a price that is expected to close again and continue to decline towards 0.7035 support

The moving averages push the price negatively as it ended with a bearish order above the price.

The Stochastic is moving sideways near the oversold area and if it is able to enter it from the turf we can see further downside

Keep in mind that the continuation of the negative pressure and the break of 0.7044 will stop the expected bullish trend and push the price lower in the intraday and short term.

The trading range for today is expected among the support at 0.7045 and resistance at 0.7170

The general trend for today is bearish

GBPUSD

The pair is in a short-term uptrend, but due to the lack of any positive Brexit news it will likely continue correcting downwards.

The price is below the middle Bollinger band, below SMA 5, but above SMA 14. Moving Averages signal to buy. RSI is steadily moving down. Stoch have entered the oversold territory.

Trading recommendations:

Sell the pair after it passes 1.3250 with a possible target of 1.3150.

The US dollar rose during the Asian session, its highest since December 20, against the Japanese yen, its fourth straight gain after last month's first monthly gain in three months, following developments and economic data that followed the Japanese economy. Fed Chairman Jerome Powell in New York on the eve of economic developments and data expected Friday by the US economy, the largest economy in the world.

At 05:42 am GMT, the USDJPY rose 0.28% to 111.70 compared with the opening levels at 111.39 after the pair reached a two-month high of 111.77 and the lowest at 111.33.

On the Japanese economy, the Unemployment Rate Index rose to 2.5% from the December reading and expectations of 2.4%. This coincided with the release of inflation data. The Tokyo CPI showed an acceleration of growth to 0.6% Compared to the previous January reading and expectations of 0.4%.

In the same context, we also followed the release of the Tokyo Core CPI excluding fresh food, which showed stability at 1.1%, unchanged from January, above expectations of 1.0% For the same index, excluding fresh food and energy, growth stability at 0.7% is consistent with expectations.

This was before the world's third-largest economy saw the Capital Expenditure Index (CPI) showing growth acceleration to 5.7% from the previous quarter's reading and expectations of 4.5%, coinciding with the release of the Industrial PMI final reading which showed shrinking shrinkage To 48.9 from February's preliminary reading and expectations at 48.5, compared to a 50.3 expansion in January.

On the other hand, we followed the speech of US Federal Reserve Governor Jerome Powell on "Recent economic developments and long-term challenges" at the New York Citizens' Budget Committee dinner, hours before the economic data released today by the world's largest economy Which includes the publication of spending and personal income readings for the months of December and January.

Investors are also looking for a final PMI reading by Markit on the US last month, which may reflect the stability of the widening at 53.7 vs. 54.9 in January, before the ISI manufacturing index was released, which may show a contraction of 55.6 Compared to 56.6 in January, while the same indicator of price indices may show a widening to 51.6 versus a contraction at 49.6.

This comes in conjunction with the final release of the University of Michigan Consumer Confidence Index, which may reflect a widening to 95.8 from February's preliminary reading of 95.5 versus January's 91.2, as well as consumer expectations of inflationary pressures for a year and five years.

Technical Analysis

The USDJPY succeeded in achieving our awaited target at 111.56 and breaching it to settle above it, which supports the chances of a short term upside wave extending within the ascending channel appearing in the image, paving the way for a recent high at 113.70 as the next key target.

From here, we expect the upside movement to continue in the coming sessions, taking into consideration that the break below 111.56 and stability below it will stop the suggested bullish price and put the price under negative pressure expected over the intraday.

The trading range for today is among the key support at 111.00 and resistance at 112.55

The general trend for today is bullish

Gold started to fluctuate in a narrowly bearish range as gold rebounded to a sixth session within eight days of the February 19th high, in contrast to the US dollar index, which is up for the third session in a row. After Federal Reserve Governor Jerome Powell spoke in New York and on the eve of economic developments and data expected Friday by the US economy, the largest economy in the world.

At 03:57 am GMT, gold futures for April delivery fell 0.03% to currently trade at $ 1.314.30 per ounce, showing a 10-month rebound from the top as compared to the opening at $ 1.315.50 an ounce, The US dollar was down 0.04% to 96.26, showing a three-week bounce from the opening at 96.22.

We have followed Federal Reserve Governor Jerome Powell's speech entitled "Recent Economic Developments and Long-Term Challenges" at the New York Citizens' Budget Committee Dinner, just hours before the economic data released today by the world's largest economy, Read spending and personal income for the months of December and January.

Looking ahead to the final reading of the US Manufacturing PMI last month, which may reflect the stability of the widening at 53.7 vs. 54.9 in January, before the ISI manufacturing index, which may show a contraction of 55.6 vs. 56.6 in January , While the same price index may show a widening to 51.6 versus a contraction at 49.6.

This comes in conjunction with the release of the final reading of the University of Michigan consumer confidence index, which may reflect a widening to 95.8 from February's preliminary reading of 95.5 versus 91.2 in January, as well as consumer expectations of inflationary pressures for a year and five years. Investors are still looking at developments in the US-China trade negotiations.

Technical Analysis

Gold broke through the up channel (which has been trading since November 14) to continue the bearish intraday direction under pressure from the moving averages that are in a downward spiral above the price, thus forming negative pressure on the price to push it to the downside and test support levels.

The index also formed a negative pressure on the price through its bearish movement and its success in entering the oversold area with attention to any intersection between the lines of the index is a sign of weakness and the end of the downward movement formed by the price and a very high probability of a bounce up.

The bearish trend is likely as long as the pair is trading below 1314.04, while noting that a breach of 1319.26 then 1324.50 will stop the expected decline and lead the price back to the ascending channel again.

The trading range for today is among the support at 1300.00 and resistance at 1324.00

The general trend for today is bearish

The EUR is fluctuating in a tight range that is rising to continue to bounce back from the 14-day low after Fed Governor Jerome Powell spoke in New York and ahead of economic data expected on Friday by Eurozone economies and the US economy, the world's largest economy.

GMT The pair rose 0.03% to 1.1374, compared to the opening at 1.1371 after the pair hit a session high of 1.1375 while the lowest at 1.1364.

Looking ahead from Germany to see the Retail Sales figure, which may reflect a 1.9% rise from last December's 4.3% decline, before we see the fourth largest economy in the Eurozone Spain unveiling the Industrial PMI reading which may reflect the narrowing of the widening To 51.8 from 52.4 in January.

From Italy, we expect the PMI to show a contraction of 47.1 versus 47.8 in January before we see the final reading of the same index for both France and Germany, which may reflect stability at 51.4 in France Against 51.2 in January, and a contraction of 47.6 in Germany against 49.7.

In the same context, the final reading of the Eurozone industrial PMI may reflect a deflationary stability of 49.2 versus a 50.5 increase in January following the release of Germany's Unemployment Change, In January, coinciding with the release of Italy's unemployment reading, which may reflect a rise to 10.4% versus 10.3% in December.

Under the headline "Recent Economic Developments and Challenges in the Long Term" we have followed the speech of Federal Reserve Governor Jerome Powell at a dinner of the Citizens' Budget Committee in New York, hours before the economic data released today by the world's largest economy, And personal income for the months of December and January.

Investors are also looking for a final PMI reading by Markit on the US last month, which may reflect the stability of the widening at 53.7 vs. 54.9 in January, before the ISI manufacturing index was released, which may show a contraction of 55.6 Compared to 56.6 in January, while the same indicator of price indices may show a widening to 51.6 versus a contraction at 49.6.

This comes in conjunction with the final release of the University of Michigan Consumer Confidence Index, which may reflect a widening to 95.8 from February's preliminary reading of 95.5 versus January's 91.2, as well as consumer expectations of inflationary pressures for a year and five years.

Technical Analysis

The pair fluctuates between the moving averages 7-20 and above the SMA 50, and the price remains limited between the pivotal levels of support 1.1300 and resistance 1.1400 The price needs to break through one of these levels to determine its next target more precisely, making us remain neutral Situation.

We will note that breaking this support will put the price under negative pressure again, targeting the 1.1180 level initially, while breaking the resistance will open the door to extend the gains to reach the levels of 1.1443 and then 1.1550 as the first major stations.

The trading range for today is among the key support at 1.1280 and resistance at 1.1460

The expected general trend for today: neutral

The Australian dollar fluctuated in a tight range slipping towards the Asian session, reversing its third straight session since Feb. 21 against the US dollar after Federal Reserve Governor Jerome Powell spoke in New York and on the eve of economic developments and data on Friday. Ahead of the Australian economy and its US economy, the world's largest economy.

At 02:58 GMT, the AUDUSD dropped 0.04% to 0.7091, compared to the opening levels of 0.7094 after the pair reached a low of 0.7085 and a high of 0.7130.

The markets are currently looking for the Australian economy to release housing data as the Housing Industry Association's new home sales index released last month before the February CPI was released.

On the other hand, we followed the speech of US Federal Reserve Governor Jerome Powell on "Recent economic developments and long-term challenges" at the New York Citizens' Budget Committee dinner, hours before the economic data released today by the world's largest economy Which includes the publication of spending and personal income readings for the months of December and January.

Investors are also looking for a final PMI reading by Markit on the US last month, which may reflect the stability of the widening at 53.7 vs. 54.9 in January, before the ISI manufacturing index was released, which may show a contraction of 55.6 Compared to 56.6 in January, while the same indicator of price indices may show a widening to 51.6 versus a contraction at 49.6.

This comes in conjunction with the final release of the University of Michigan Consumer Confidence Index, which may reflect a widening to 95.8 from February's preliminary reading of 95.5 versus January's 91.2, as well as consumer expectations of inflationary pressures for a year and five years.

Technical analysis:

The Australian dollar has managed to reach the minimum of the ascending channel it has been trading in since the beginning of this year. Under the influence of the moving averages that press the price to decline, especially as SMA 20 approaches SMA 50 and is ready to cross with it. If this is done, we get a bearish order of the moving averages above the price, thus increasing negative pressure on it

The Stochastic is reaching the oversold area and is therefore a sign of a decline in the bearish momentum on the price in conjunction with the price reaching the bottom line of the ascending channel and we are likely to see a correction and possibly a return to the upside.

A breach of 0.7145 will facilitate the price action towards our main positive target at 0.7250.

The trading range for today is expected among the support at 0.7045 and resistance at 0.7170

The general trend for today is bullish

Amazon shares remain in a sideways move between 1587.74 support and resistance at 1676.43

The price started to move above the moving averages in a signal to start the upside move provided that the resistance level is breached at 1676.43

Stochastic in a sideway move is likely to form some positive pressure on the price.

The general movement is still sideways so we will keep the neutrality in the decision

General direction of the movement: neutral

The Australian dollar has been sliding against the US dollar since the opening of today's session, after economic data from the Australian economy and ahead of economic data expected Thursday by the US economy, hours after the expiration of the Fed's semi-annual policy on monetary policy before the US Congress.

In the morning, the AUDUSD rose 0.07% to 0.7144 compared to the opening levels of 0.7138 after the pair reached a high of 0.7166 and the lowest at 0.7130.

The Australian economy released the Private Capital Expenditure Index (CPI), which shed 2.0% versus stability at zero levels in the third quarter, beating expectations for a 0.8% rise. , Unchanged from last December, below expectations of 0.3%.

From the US economy, markets are looking to reveal the preliminary reading of GDP, which may reflect the contraction of the largest economy in the world to 2.6% in the fourth quarter compared to 3.4% in the third quarter, and may show the preliminary reading of GDP measured in prices for the last quarter Growth slowed to 1.7% from 1.8% in the third quarter.

This comes in conjunction with the reading of the index of claims for the week of February 23, which may reflect a rise of 5 thousand applications to 221 thousand applications compared to 216 thousand applications in the previous weekly reading, before we see the disclosure of the Chicago Purchasing Managers Index May reflect a widening to 58.1 versus 56.7 in January.

Technical analysis:

The Australian dollar is fluctuating within the range between 0.7152 and 0.7121 support since the beginning of today's trading.

The moving averages are negative pressure on the price, especially the 50 moving average that drives the price lower and test the support level 0.7121.

Breaking the previous support level will push the price towards the Bottom line of the up channel that has been trading since the beginning of this year

The expected movement of the support house is 0.7097 and the resistance is 0.7153