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EURUSD

The pair is trading above 1.1270. It broke away from the short term upwards trend as the eurozone economy is expected to enter recession already this year, which will force the ECB to continue with its soft monetary policy.

The price is below the middle Bollinger band, above SMA 5, but still below SMA 14. RSI is at the line of the oversold territory and is moving horizontally. Stoch are leaving the oversold territory.

Trading recommendations:

Sell the pair after it passes the level of 1.1270 with a possible target of 1.1215.

The Australian dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound from its lowest level since January 4 against the US dollar following the economic developments and data followed Tuesday by the Australian economy and amid a lack of economic data earlier this week. The US economy is the largest economy in the world.

At 02:32 GMT, the AUDUSD rose 0.21% to 0.7077 compared with the opening levels at 0.7062 after recording a high of 0.7083 and a six-week low of 0.7054.

The Australian economy was followed by the Australian National Bank of Business Confidence Index, which showed an expansion of 4 to 3 in December, coinciding with the release of housing market data with the Home Loan Index reading showing a widening decline To 6.1% from 0.9% last November, worse than expectations for a widening of the decline to 2.0%.

On the other hand, investors are looking forward to what Federal Reserve Governor Jerome Powell will speak at the Hope Foundation Rural Policy Forum in Mississippi under the title "Economic Development in High-Poverty Rural Communities". Markets are also looking forward to the outcome of the third round of trade talks Between the United States and China (Australia's largest trading partner) in Beijing this week.

Technical Analysis

The AUDUSD extended yesterday's negative trading around 0.7075 and is under continuous negative pressure coming from SMA 50, supporting the bearish outlook for the intraday basis, where our next target is at 0.7000.

Stability below 0.7185 is important for the continuation of the suggested bearish wave, and a break of 0.7000 will push the price towards 0.6930 directly.

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

Support and resistance:

Support: 0.7040-0.6932

Resistance: 0.7108-0.7161

The general trend for today is bearish

The single currency of the European Union region fluctuated in a narrowly bullish range during the Asian session to see its rebound to its second-lowest session since November 28 as economic data on Tuesday narrowed the eurozone economy and the US economy, the world's largest economy.

At 04:22 GMT, the EURUSD rose 0.01% to 1.1277, compared to the opening at 1.1276, after reaching a high of 1.1285 and a low of 1.1273.

The markets are looking forward to what German Central Bank Governor Jean Wiedmann will say at the University of South Africa in Pretoria under the title "The role of the central bank in the modern economy - a European perspective", coinciding with the launch of the meetings of the ministers of finance of the Euro-zone ECOFIN in Brussels, Many financial issues such as mechanisms to support the euro and government funding, these meetings are closed to the press that officials usually talk to correspondents throughout the day.

On the other hand, investors are looking forward to what Federal Reserve Governor Jerome Powell will speak at the Hope Foundation Rural Policy Forum in Mississippi, entitled "Economic Development in High-Poverty Rural Communities." Markets are also looking forward to what the US Republican Administration Congress, which has a majority of Democrats on funding the border security program to avoid a new partial closure of the federal government.

Technical Analysis

The EUR / USD pair made negative trading yesterday to settle below the 1.1300 barrier, which supports our expectations of further bearishness over the short and medium term, awaiting the visit of 1.1181 which represents our next target.

SMA 50 continues to support the suggested bearish wave, which requires stability to remain below 1.1443.

The trading range for today is among the key support at 1.1180 and resistance at 1.1350

Support and resistance:

Support: 1.1300-1.1216-1.1180

Resistance: 1.1341-1.1386-1.1443

The general trend for today is bearish

Gold futures fluctuated in a narrowly bullish range during the Asian session amid the decline of the US dollar index, rebounding to the second session of the highest since December 18 according to the inverse relationship between them amid a lack of economic data earlier this week by the US economy The world's largest economy and looking forward to the third round of trade talks between Washington and Beijing.

At 03:22 am GMT Gold futures futures for delivery of 15 April next 0.03% to currently trading at $ 1,312.00 per ounce compared to the opening at $ 1,311.60 an ounce, amid the decline of the US dollar index 0.06% to levels of 97.01, ending the longest march A daily gain since November of 2016 compared to the opening at 97.06.

Investors are now looking to Federal Reserve Governor Jerome Powell to speak at the Hope Foundation's Rural Policy Forum in Mississippi under the title Economic Development in High-Poverty Rural Communities. Markets are also looking forward to what the US Republican Administration's negotiations with Congress, which holds a majority of Democrats About funding the border security program to avoid a new partial closure of the federal government.

In addition, investors are also eyeing the outcome of the third round of trade talks between the world's top economists, with US Treasury Secretary Stephen Menuchin and US Trade Representative Robert Laetzer heading to Beijing to resume trade talks later this week. As part of efforts by both parties to avoid a trade war.

US President Donald Trump recently stated that he did not intend to meet with Chinese President Xi Jinping before the March 11 deadline for a trade deal between Washington and Beijing, which renewed concerns about the return of tariffs on Chinese goods worth 200 million dollars $ 25 billion and raise it to 25%, if no agreement is reached to extend the existing truce between them.

On the other hand, the statistics of the World Gold Council at the end of last month to the rise of purchases of global central banks of gold in 2018 to their highest level since 1967, where purchases rose to 651.5 metric tons, up 74% from what it was in 2017 when it reached (374 metric tons), with the demand of many countries to purchase the yellow metal topped by Russia by 274 metric tons, which surpassed China, the world's largest consumer of metals, 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

The price of gold continues to gradually decline within the intraday channel shown in the image, approaching our first target, which now rises to 1299.00, waiting to break this level towards 1286.70 as the next major station.

Moving below the SMA 50 supports the expected decline, while the breach of 1316.65 is the key to turning the intraday upside path towards a gain starting at 1340.00 and extending to 1365.05.

The trading range for today is among the support at 1286.00 and resistance at 1320.00

Support and Resistance:

Support: 1301.00-1294.67-1286.70

Resistance: 1308.90-1316.52-1321.65

The general trend for today is bearish

Google shares fell from last week's high and reached the support level at the bottom of the ascending channel in which it trades.

Moving between the moving average 7 which is above the price and the moving average 20 which is support for the price at 1090.50 near the minimum of the ascending channel

Stochastic has reached the oversold area in a negative signal for the price so we can see an attempt from the price to breach the support level at 1089.90

The range of movement between support 1090.00 and resistance: 1151.95

The US dollar rose during the Asian session to its highest since December 28 against the Japanese yen following developments and economic data followed Tuesday by the Japanese economy, the third largest economy in the world and amid the lack of economic data earlier this week by the US economy largest economy In the world.

At 5:38 am GMT, the greenback was up 0.17% at 110.57 from the opening at 110.57, after reaching a seven-week high of 110.65, while the session's lowest at 110.35.

We have followed the Japanese economy. The Bank of Japan has released the annual reading of the Bank of Japan's M2 lending index, which showed growth of 2.4% in January, in line with expectations, before seeing the Tertiary Industrial Index drop to 0.3% 0.4% in November, contrary to expectations that the decline to 0.1%.

On the other hand, investors are looking forward to what Federal Reserve Governor Jerome Powell will speak at the Hope Foundation Rural Policy Forum in Mississippi, entitled "Economic Development in High-Poverty Rural Communities." Markets are also looking forward to what the US Republican Administration Congress, which has a majority of Democrats on funding the border security program to avoid a new partial closure of the federal government

Technical Analysis

USDJPY succeeded in achieving our first awaited target at 110.24 and breached it to settle with a daily close above it, opening the way for the upside wave to target 111.56 in the near term.

Thus, the bullish scenario will remain effective over the coming period supported by SMA 50, with a break of 110.24 that will halt the expected rally and press the price to fall again.

The trading range for today is expected among the support at 110.00 and the resistance at 111.56

Support and resistance:

Support: 109.68-109.25

Resistance: 111.07-111.45

The general trend for today is bullish

The Australian dollar fluctuated in a narrowly bullish range during the Asian session to see its rebound to its second-lowest session since January 4 against the US dollar amid a lack of economic data by the Australian economy and its economy, the world's largest economy, on Monday.

At 02:53 GMT, the AUDUSD rose 0.45% to 0.7100, compared to the opening levels of 0.7088, after reaching a high of 0.7108, while reaching a low of 0.7085.

Investors are looking forward to what Federal Open Market Committee (FOMC) member and Federal Reserve Governor Michael Bowman will speak at the annual conference of the American Association of Community Bankers in San Diego, coming hours before Federal Reserve Governor Jerome Powell delivered a speech on Tuesday entitled " Economic Development in High-Poverty Rural Communities "at the Hope Foundation Rural Policy Forum in Mississippi.

Technical Analysis

AUDUSD has tested the 0.7100 level and starts to retrace back from there, supported by the negative sign from Stochastic now, awaiting the 0.7000 move which is our next main target.

SMA 50 supports bearish expectations, noting that stability below 0.7180 is important for the continuation of the suggested bearish wave.

The trading range for today is expected among the support at 0.7000 and the resistance at 0.7140

Support and resistance:

Support: 0.7040-0.6932

Resistance: 0.7108-0.7161

The general trend for today is bearish

The single currency of the European Union region fluctuated in a narrowly bearish range during the Asian session to see its rebound for the 8th session in nine sessions from its highest since January 11 amid tight economic data on Monday by Eurozone economies and the US economy. the world.

At 04:30 GMT, the EURUSD dropped 0.03% to 1.1320, compared to the opening at 1.1341 after hitting the lowest level since January 25 at 1.1315, while the highest in the session at 1.1330.

The markets are currently looking for the outcome of the meetings of the Eurogroup in Brussels attended by the President of the Eurogroup and the Ministers of Finance of the member countries of the euro area as well as the Commissioner of Economic and Monetary Affairs and the Governor of the European Central Bank, which discusses many financial issues such as mechanisms to support the euro and government funding.

On the other hand, investors are looking forward to a speech by Fed member and Federal Reserve Governor Michael Bowman at the annual conference of the American Association of Community Bankers in San Diego, coming hours before Federal Reserve Governor Jerome Powell delivered a speech on Tuesday entitled "Economic Development In rural high-poverty communities "at the Hope Foundation's Rural Policy Forum in Mississippi.

Technical Analysis

The EUR / USD pair is trading in quiet negativity to keep near the 1.1300 barriers, so that the negative pressure remains intact over the short and medium term, awaiting further downside targeting 1.1181 as the next major station.

SMA 50 supports the bearish expectations, noting that stability below 1.1390 and 1.1443 is important for the continuation of the expected bearish wave.

The Stochastic is moving in a sideways path within the oversold area and gives a signal for the bullish cross. If this happens, and out of this area, we will likely see a price rally

The trading range for today is expected among 1.1200 support and 1.1400 resistance

Support and resistance:

Support: 1.1300-1.1216-1.1181

Resistance: 1.1386-1.1443-1.1535

The general trend for today is bearish

Gold futures traded in a tight range slipping into the Asian session to see their fourth session rebound in seven sessions from its highest since April 25 as the US dollar index rose to its highest since January 3, according to the inverse relationship between them Amid a lack of economic data on Monday by the US economy, the world's largest economy, as markets look to launch the third round of US-China trade talks later this week in Beijing.

Gold futures for April delivery fell 0.21% to currently trade at $ 1,315.40 an ounce, resuming a 10-month high against the opening at $ 1,318.10 an ounce, amid a rally in the US dollar 0.06% to 96.70, showing the longest daily gain since November of 2016 compared to the opening at 96.66.

Investors are looking forward to what Federal Open Market Committee (FOMC) member and Federal Reserve Governor Michael Bowman will speak at the annual conference of the American Association of Community Bankers in San Diego, coming hours before Federal Reserve Governor Jerome Powell delivered a speech on Tuesday entitled " Economic Development in High-Poverty Rural Communities "at the Hope Foundation Rural Policy Forum in Mississippi.

Otherwise, attention is drawn to what will be the outcome of the third round of trade talks between the world's largest economists, with US Treasury Secretary Stephen Manuchen and US Trade Representative Robert Laetzer heading to Beijing later this week to resume trade talks amid efforts Made by both parties to avoid the outbreak of trade war.

US President Donald Trump said last Thursday that he did not intend to meet with Chinese President Xi Jinping before the March 11 deadline for a trade deal between Washington and Beijing, which renewed the markets' concern about the return of tariffs and lifting them if they do not. To reach an agreement on extending the ongoing armistice currently in place between the parties.

In another context, we have followed the former Federal Reserve, Janet Yellen, recently said that she expects the Fed's next move on interest rates to be the cut, especially if the slowdown in global economic growth harms the US economy, explaining that the decision to cut interest rates will be available In that case, adding that if the damage grows, the Fed will return to quantitative easing policies again.

Federal Reserve monetary policy makers kept interest rates at 2.25% to 2.50% last month while continuing to cut bond purchases by $ 50 billion a month. Federal Commissioner Jerome Powell said that the committee would be patient and monitor economic data as the downside risks to the economy worsened as global growth and financial market volatility weakened. Whether that approach continued or not would depend on economic data.

On the other hand, the statistics of the World Gold Council at the end of last month to the rise of purchases of global central banks of gold in 2018 to their highest level since 1967, where purchases rose to 651.5 metric tons, up 74% from what it was in 2017 when it reached (374 metric tons), with the demand of many countries to purchase the yellow metal topped by Russia by 274 metric tons, which surpassed China, the world's largest consumer of metals, 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

The price of gold is starting to show negative negative trading with the opening of the day, stimulated by the stochastic cross, now awaiting further downside during the coming sessions, with the next targets at 1297.00 then 1286.70.

The price movement between the 20-50 moving averages is in a sideways movement within the descending sub-channel where the SMA 50 is a resistance level

Stability below 1316.65 is important for the continuation of the suggested bearish trend, as breaching it will open the door to extend gold gains to reach 1340.00 and then 1365.05 in the near term.

The trading range for today is among the support at 1286.00 and resistance at 1320.00

Support and resistance:

Support: 1309.20-1301.30-1294.67

Resistance: 1316.52-1321.47-1333.80

The general trend for today is bearish

The US dollar rose during the Asian session to see its fifth session rebound in eight sessions from its lowest since January 16 against the Japanese yen as the Japanese economy was absent earlier this week due to the celebration of the National Day of Establishment in the world's third-largest economy, Economic data on Monday by the US economy the largest economy in the world.

At 05:58 am GMT, the pair rose 0.23% to 109.98 compared to the opening levels at 109.73 after the pair reached a high of 110.01 and a low of 109.69.

Investors are looking forward to Federal Open Market Committee (FOMC) member and Federal Reserve Governor Michael Bowman speaking at the annual meeting of the American Association of Community Bankers in San Diego, coming hours before Federal Reserve Governor Jerome Powell delivered a speech on Tuesday entitled "Economic Development in Communities Rural poverty "at the Rural Policy Forum of the Hope Foundation in Mississippi.

Technical Analysis

The USD / JPY pair is opening today with a bullish bias towards the awaited target of 110.24, reinforcing expectations for a continuation of the uptrend in the coming sessions, noting that a breach of this level will extend the upside wave to 111.56 as the next major station.

SMA 50 supports the expected high, which requires stability to remain above 109.16.

The trading range for today is expected among the key support at 109.30 and the resistance at 110.70

The general trend for today is bullish