Analytic reviews

EURUSD

The pair is trading within a short-term uptrend due to the weakness of USD. The pair has the potential of local growth, if the negative sentiment towards the USD remains.

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

Trading recommendations:

If the pair remains above 1.1370, it may continue growing to 1.1440. However, if the opposite happens and it falls below this level, there’s a possibility of a limited drop to 1.1320.

USDCAD

The pair is trading within a short-term downtrend. If crude oil price continue correcting downwards, the pair will be expected to experience a local growth.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. Moving Averages are signaling to buy. RSI is above the level of 50% and is moving horizontally. Stoch have entered the overbought territory.

Trading recommendations:

Buy the pair after it passes the mark of 1.13205 and takes hold above it with a local target of 1.3250.

Google shares have been moving from the rising channel that has been moving in since the beginning of the year. In a bearish movement that did not last long, the price is back at 1103.08 and is going up again in an attempt to return to the ascending channel.

In general, we are still in the bullish trend extending since the beginning of this year, but on condition that resistance breached 1125.71 which is at 50% Fibonacci retracement.

Moving averages support this bullish movement as we have a bullish order of the moving averages 7-20-50 below the price to give it stability and support to continue the upside.

Stochastic in the ascending channel gave a break signal and therefore we are expected to see price action towards the lower channel's minimum.

The range of motion between support 1083.00 and resistance: 1160.00.

Gold prices moved in a narrow bullish range during the Asian session as the US dollar fell, ahead of economic developments and data expected Tuesday by the US economy, which includes the Fed's midterm testimony to the US Federal Reserve.

In the morning Asian session Gold prices dropped to trade currently at $ 1,328.00 an ounce after opening the day at $ 1,329.90 an ounce, amid the decline of the US dollar index 0.06% to levels of 96.33, showing a continuation of the rebound from the highest in two months compared to the opening at 96.39.

From the US economy, we look forward  we look forward to the release of the housing market data with the reading of the Construction Starts Index and Building Permits, which may give a low reading in December, where building permits are expected to show a 2.8% drop to 1,290K versus a rise of 5.00% at 1,328. A may also show a reading of 0.5% in 1,250 homes compared to a rise of 3.2% at 1,256 thousand homes.

Ahead of the home price index reading, which could reflect slowing growth to 0.3% from 0.4% in November, and the upcoming event today, Federal Reserve Governor Jerome Powell's semi-annual policy statement to the Senate Banking Committee, before completing his half- Annual meeting on Wednesday with his appearance before the Financial Services Committee in the House of Representatives.

Today, at a later date, we expect the consumer confidence reading for February to rise to 124.3 from 120.2 in January, with the reading of the Rachamond Industrial Index which may give a reading of 8 versus a contraction of 2 in January.

US President Donald Trump noted that a new trade deal could be signed with his Chinese counterpart, Xi Jinping, while the Chinese president, who is expected to meet with his US counterpart in Washington later this month, noted that trade differences between his country and America are fading, With the expectation that the talks in the final stage more difficult.

According to the World Gold Council, global central bank purchases of gold rose during the year 2018 to their highest level since 1967. Purchases rose to 651.5 metric tons, up 74% from 2017 at 375 metric tons, Of the countries to buy the yellow metal topped by Russia by 274 metric tons, which overtook China, the largest consumer of metals globally and inspire both Poland and Kazakhstan.

Technical analysis:

Gold continues to fluctuate around the 1328.32 resistance level with pressure from the moving average. Where the moving average 50 moves below the price forming support near the 1325.70 level while the moving average 20 represents resistance to the price at 1329.25.

Stochastic is in a sideways path after losing the bullish momentum, which negatively reflected the price and pushed it to further decline and test the support level at 1322.94.

In general, we are on a sideways trend that tends to fall if 1324.2 is breached at 50% Fibonacci retracement

Support and resistance:

Support: 1322.94-1317.24-1314.04

Resistance: 1328.32-1338.70

The general trend of the movement: A primary side-road that the movement between the resistance and support sides shown in the picture

The Japanese yen rose against the US dollar in the Asian session following economic developments and data released by the Japanese economy ahead of economic data expected Tuesday by the US economy, the largest economy in the world with anticipation of the Fed's midterm testimony to the US Federal Reserve.

In the Asian session, the USDJPY dropped 0.05% to 110.63 from the opening levels of 110.69 after the pair reached a low of 110.58 and a high of 110.86.

The Japanese economy released inflation data with the core CPI, which showed an improvement in growth to 0.5% from 0.4% in November but below expectations of 0.6%. This came hours after Bank of Japan Governor Haruhiko Kuroda For being discussed with Japanese Prime Minister Shinzo Abe global economic conditions over the weekend.

Bank of Japan Governor Kuroda told the Japanese parliament on Tuesday that the BOJ was ready to expand stimulus if the strong yen's rise hurt the economy and hampered efforts to push inflationary pressures to the Bank of Japan's target of 2 percent. Between the Bank of Japan's expansionary policies, interest rate cuts and the size of the asset purchase program.

In another context, the Japanese government announced earlier this month a ten-day holiday from Saturday 27 April to Monday, May 6 next to Japan's celebrations of the rise of the new emperor to rule there during that holiday, on the That the Crown will be crowned with the beginning of May, and we would like to point out that this holiday, which will last six full working days, will be the longest in Japan's history.

From the US economy, we look forward to the release of the housing market data with the reading of the Construction Starts Index and Building Permits, which may give a low reading during December, where construction permits are expected to show a 2.8% drop to 1,290,000 versus 5.00% at 1,328K , And the index of newly constructed houses may show a drop of 0.5% at 1,250,000 versus a rise of 3.2% at 1,256,000.

Ahead of the home price index reading, which could reflect slowing growth to 0.3% from 0.4% in November, and the upcoming event today, Federal Reserve Governor Jerome Powell's semi-annual policy statement to the Senate Banking Committee, before completing his half- Annual meeting on Wednesday with his appearance before the Financial Services Committee in the House of Representatives.

Today, at a later date, we expect the consumer confidence reading for February to rise to 124.3 from 120.2 in January, with the reading of the Rachamond Industrial Index which may give a reading of 8 versus a contraction of 2 in January.

Technical analysis:

The Japanese Yen failed to stabilize above the resistance level of 110.96 to revert to the previous track between 110.59 support and 110.95 resistance.

In general, we are on a side track with attempts to climb.

The moving averages support the price to the upside as there is a bullish order under the price supported by the renewed high.

The statistic is in a bearish path in a reversal of price action towards the oversold area.

The expected movement between 110.59 support and 110.92 resistance in a sideways trend tends to prevail

Support and Resistance:

Support: 110.59-110.14

Resistance: 110.96-111.37

The Australian dollar fluctuated in a tight range slipping into the Asian session against the US dollar amid a lack of economic data earlier this week by the Australian economy and on the eve of developments and economic data expected Tuesday by the US economy, the largest economy in the world, which includes the first half of the certificate half Annual meeting of Federal Reserve Governor Jerome Powell to Congress.

At 02:20 GMT, the Australian dollar fell 0.08% to 0.7161 compared to the opening levels at 0.7167 after the pair reached a low of 0.7151 and a high of 0.7173.

From the US economy, we look forward to the release of the housing market data with the reading of the Construction Starts Index and Building Permits, which may give a low reading during December, where construction permits are expected to show a 2.8% drop to 1,290,000 versus 5.00% at 1,328K , And the index of newly constructed houses may show a drop of 0.5% at 1,250,000 versus a rise of 3.2% at 1,256,000.

Ahead of the home price index reading, which could reflect slowing growth to 0.3% from 0.4% in November, and the upcoming event today, Federal Reserve Governor Jerome Powell's semi-annual policy statement to the Senate Banking Committee, before completing his half- Annual meeting on Wednesday with his appearance before the Financial Services Committee in the House of Representatives.

Today, at a later date, we expect the consumer confidence reading for February to rise to 124.3 from 120.2 in January, with the reading of the Rachamond Industrial Index which may give a reading of 8 versus a contraction of 2 in January.

Technical analysis:

The Aussie was able to return to the ascending sub-channel where it was trading as the price formed a double top pattern.

The pair is currently trading near the previous resistance 0.7152 at the lower limit of the ascending channel.

The moving averages of 50-20 form a support level for the price and contribute to a return to the upside.

Stochastic was in a downtrend that reached the oversold area and is expected to be a sign of bearish momentum and a correction of the price especially since the price is trading near a support point at the bottom of the ascending channel.

The expected movement between 0.7130 support and resistance is 0.7175

Support and resistance:

Support: 0.7152-0.7130-0.7097

Resistance: 0.7175-0.7197

The single currency of the European Union region saw the euro fluctuate in a narrow upward trend during the Asian session against the US dollar ahead of developments and economic data expected Tuesday by the largest eurozone economies Germany and the US economy the largest economy in the world and the middle looking for the Fed's semi- Powell to Congress.

During the Asian session, the EURUSD rose 0.02% to 1.1360 compared to the opening at 1.1358 after the pair reached a high of 1.1368 while reaching a low of 1.1354.

Investors are looking for a statistical reading from the German consumer confidence index (GFK), which may reflect the stability of the spread at 10.8, unchanged from February,

From the US economy, we look forward to the release of the housing market data with the reading of the Construction Starts Index and Building Permits, which may give a low reading during December, where construction permits are expected to show a 2.8% drop to 1,290,000 versus 5.00% at 1,328K , And the index of newly constructed houses may show a drop of 0.5% at 1,250,000 versus a rise of 3.2% at 1,256,000.

Ahead of the home price index reading, which could reflect slowing growth to 0.3% from 0.4% in November, and the upcoming event today, Federal Reserve Governor Jerome Powell's semi-annual policy statement to the Senate Banking Committee, before completing his half- Annual meeting on Wednesday with his appearance before the Financial Services Committee in the House of Representatives.

Today, at a later date, we expect the consumer confidence reading for February to rise to 124.3 from 120.2 in January, with the reading of the Rachamond Industrial Index which may give a reading of 8 versus a contraction of 2 in January.

Technical analysis:

The Euro failed to breach the resistance level 1.1361 again after retesting it to rebound towards support at 1.1312. And maintain the sideways movement it has been trading in since last week.

In general, we are in a sideways trend that tends to climb but on condition that the resistance level breaches 1.1361.

Moving averages Support the price to the upside as the SMA 50 supports the price near the support level of 1.1312 while the MA 20 is moving below the price.

The stochastic is oscillating through its bullish path towards the overbought area but giving a bearish cross signal at this moment.

In general, we look for the EUR to break above the mentioned resistance level and the target 1.1392 which the EUR managed to break through will return to the previous bullish scenario.

The expected movement for the day between support 1.1312 and resistance 1.1392

Support and resistance:

Support: 1.1312-1.1257-1.1200

Resistance: 1.1362-1.1392-1.1443

EURUSD

The pair is trading within a narrow range before tomorrow’s speeches of Theresa May and Jerome Powell. The price is expected to remain within the existing range today.

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

Trading recommendations:

Sell the pair at its growth from the upper edge of the range 1.1370 with a possible target of 1.1320.

Sberbank Stock is trading near the support level of 201.82 as the price has tested this support several times over the past week and failed to breach this level to bounce back supported by the 50-7 moving averages.

The SMA 50 is a support level near 200.00 while SMA 20 is price resistance at 210.93

Stochastic is in a bullish upward direction and is a positive pressure on the pair to rise and test resistance at 210.93

Expected movement between 193.75 support and resistance. 219.42

The general trend of the movement: upward

Gold futures traded in a narrowly bullish range during the Asian session as the dollar index fell for the sixth session in seven sessions from its highest since Dec. 17 according to the inverse relationship between them on the eve of developments and economic data expected Monday by the US economy Amid a look at the Fed's midterm testimony to Governor Jerome Powell.

Gold futures for April delivery rose 0.22% to currently trade at $ 1,333.60 per ounce, compared with the opening at $ 1,331.90 an ounce, amid the decline of the dollar index 0.06% to levels of 96.46, explaining the sequence of the rebound from Higher in three months compared to the opening at 96.52.

The markets are looking for the US economy, the world's largest economy, for the final reading of the wholesale stocks index, which could reflect a stable 0.3% growth, unchanged from the December reading. This comes before we see the participation of the Deputy Governor of the Reserve Bank Federalist Richard Clarida in a panel discussion entitled "Federal Reserve: A Conversation with Community Leaders in South Dallas" in Texas.

This comes hours before Federal Reserve Governor Jerome Powell's semi-annual testimony on monetary policy before the Senate Banking Committee on Tuesday and before the House Financial Services Committee after Wednesday in Washington before Powell delivered a speech entitled "Economic Developments Marginal and long-term challenges "next Thursday in New York.

"The United States has made great progress in our trade talks with China on important structural issues, including intellectual property protection, technology transfer, agriculture, services, technology and technology," said Trump, Currency and many other issues. "The markets are looking forward to meet Trump with his Chinese counterpart Xi Jinping next month and reach a comprehensive trade agreement.

On the other hand, we have followed earlier this month, the Russian Ministry of Economy announced that the production of Russia's gold last year 2018 rise to 314.42 tons compared with 306.9 tons in 2017, following the comments of the World Gold Council at the end of last month That Russia was the most buying gold in 2018 as it seeks to reduce the dependence on the dollar because of US sanctions imposed on them.

According to the World Gold Council, global central bank purchases of gold rose during the year 2018 to their highest level since 1967. Purchases rose to 651.5 metric tons, up 74% from 2017 at 375 metric tons, Of the countries to buy the yellow metal topped by Russia by 274 metric tons, which overtook China, the largest consumer of metals globally and inspire both Poland and Kazakhstan.

Global gold consumption rose to 4,345.1 metric tons last year from 4,159.9 metric tons in 2017. Retail investment in bullion and gold coins rose 4 percent to 1,090.2 metric tons, supported by Iran's demand increase of 222 percent to 62 metric tons, Demand for jewelry has stabilized at around 2,200 metric tons with increased consumption compensation in both China, the United States and Russia for lower demand from the Middle East and India.

In contrast, the demand for financial institutions fell by 67% from the year 2017, when the world supply of gold increased 1% to a total of 4,490.2 metric tons in 2018. The gold futures contracts last month made the fourth monthly gain, respectively, illustrated Has seen its longest monthly gains since late 2010, after ending its longest monthly loss march since late 1996.

Technical analysis:

Gold is hovering around the SMA 50, and we see that Stochastic is losing its positive momentum to enter the overbought areas, waiting for the price to resume the corrective correction, which targets the 1319.26 level mainly.

Keep in mind that a break of 1336.20 and stability above it will stop the negative scenario and push the price to regain the ascending main course again.

The trading range for today is among the key support at 1310.00 and resistance at 1340.00

Support and resistance:

Support: 1322.95-1317.40-1314.00

Resistance: 1332.10-1338.70-1346.16

The general trend for today is bearish