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The fluctuation of the US dollar in a narrow range tilted toward retreat, to witness its bounce to the fifth session in seven sessions from the top since February 21 against the Japanese yen after the developments and economic data that it had reported on the Japanese economy and on ...

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The fluctuation of the US dollar in a narrow range tilted toward retreat, to witness its bounce to the fifth session in seven sessions from the top since February 21 against the Japanese yen after the developments and economic data that it had reported on the Japanese economy and on the cusp of developments and economic data expected today Wednesday by the US economy The largest economy in the world.

At exactly 05:53 AM GMT, the US dollar pair fell against the Japanese yen by 0.06% to 107.48 levels compared to the opening levels at 107.54, after the pair achieved its lowest level during the trading session at 107.26, while achieving the highest at 107.94.

This has been followed up on the Japanese economy by revealing the data of the industrial and services sector for the first quarter with the release of the Tankan Industrial Index reading, which showed a contraction to what is worth 8 against stability at zero levels in the fourth quarter, outperforming the expectations that indicated a contraction of 10, while the reading of the Tankan Service Index showed a contraction Widening to 8 versus 20 in the fourth quarter, also outperforming expectations for 3-contraction.

This came before we saw the final reading of the manufacturing PMI by Markit of Japan, the third largest industrialized country in the world, which showed a contraction of 44.8 during March, worse than expectations that the contraction shrank to 44.8 and a contraction of 47.8 in February, otherwise Yesterday, we followed up, Japanese Economy Minister Toshimitsu Motegi expressed the Japanese government's work on a new economic package to protect jobs and jobs.

On the other hand, investors are currently awaiting by the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the loss of 150 thousand jobs compared to 183 thousand added jobs in February, and this comes hours before the disclosure after Tomorrow, Friday, the monthly report for jobs except agricultural and unemployment rates, in addition to the average hourly earnings for the month of March.

Markets are also looking to reveal the final reading of the manufacturing PMI by Markit for the United States, which may reflect the widening contraction to 48.2 compared to 49.2 in the initial reading last month and against expansion at 50.7 in February, before we witness the release of the spending index reading On construction, which shows growth slowed to 0.6% versus 1.8% in January.

This comes in conjunction with the disclosure also by the largest industrialized country in the world about the reading of the Institute of Industrial Supply index, which may show a contraction to 44.9 compared to a expansion at 50.1 in February, while a reading of the Institute of Industrial Supply measured in prices may indicate the extent of the contraction to 41.6 Versus 45.9, and we would like to point out, because the reading at a value of 50 or higher reflects a widening, while its reading below 50 indicates a contraction.

Technical analysis

  

The dollar versus the yen has significantly resumed its negative trading to begin attacking the 107.68 level, which supports the continuation of our expectations for the downside trend effectively during the coming period, noting that the price closed the daily candle below the mentioned level to pave the way for heading towards our next negative target which is located at 106.44.

SMA 50 continues to press negatively on the price, to continue to suggest the bearish trend on the intraday and short term, provided stability below 109.20.

The expected trading range for today is between 106.80 support and 108.60 resistance

Expected trend for today: bearish

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Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session to witness its rebound from the lowest since March 24, when it reflected the best daily performance since September 17, 2008 amid the dollar index resumed its rebound from the lowest since March 17 ...

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Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session to witness its rebound from the lowest since March 24, when it reflected the best daily performance since September 17, 2008 amid the dollar index resumed its rebound from the lowest since March 17 / March for the second session in four sessions according to the inverse relationship between them on the threshold of developments and economic data expected today, Wednesday, by the US economy.

At exactly 04:10 AM GMT, gold futures contracts for June delivery rose 0.47% to trade at $ 1,596.90 per ounce compared to the opening at $ 1,589.40 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded yesterday's trading At $ 1,596.60 an ounce, with the US dollar index rising 0.15% to 99.12 compared to the opening at 98.97.

Investors are currently awaiting by the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the loss of 150,000 jobs compared to 183,000 added jobs in February, and this comes hours before the disclosure after Friday Monthly report of jobs except agricultural and unemployment rates in addition to the average hourly earnings for the month of March.

Markets are also looking to reveal the final reading of the manufacturing PMI by Markit for the United States, which may reflect the widening contraction to 48.2 compared to 49.2 in the initial reading last month and against expansion at 50.7 in February, before we witness the release of the spending index reading On construction, which shows growth slowed to 0.6% versus 1.8% in January.

This comes in conjunction with the disclosure also by the largest industrialized country in the world about the reading of the Institute of Industrial Supply index, which may show a contraction to 44.9 compared to a expansion at 50.1 in February, while a reading of the Institute of Industrial Supply measured in prices may indicate the extent of the contraction to 41.6 Versus 45.9, and we would like to point out, because the reading reading at a value of 50 or higher reflects a widening, while its reading below 50 indicates a contraction.

It is noteworthy that US President Donald Trump recently signed a stimulus package estimated at $ 2 trillion to support the largest economy in the world and American families and companies in facing the repercussions of the Corona virus, after the package was passed by the US Congress last week, and Trump approved last Sunday the extension Guidelines for social restrictions in the United States until next April 30.

Other than that, today we followed the disclosure of the industrial sector data for China, the second largest economy in the world and the second largest industrialized country globally, with the release of the Caixin manufacturing PMI reading by Markit for China, which showed expansion of 50.1 compared to a contraction at 40.3 in February , Outperforming expectations for a contraction of 45.0.

This came hours after the China Federation of Logistics and Procurement (CFLP) disclosed yesterday the industrial and service sector data for March, which showed expansion in the wake of the worst performance in its history in February due to the quarantine and closure implications that China recently adopted as part of the efforts. Aiming to reduce the spread of the Coronavirus, which started in Wuhan, China.

Last Monday, we followed the announcement of the Russian Central Bank, the world's largest buyer of gold, of its intention to stop its purchase of gold at the beginning of April, and did not provide reasons for that suspension, while stating that its future decisions will depend on the state of the financial markets, and we would like to point out that the outbreak of the Corona virus caused Stopping hundreds of flights, which prevents the transport of gold and disrupts global supply chains, and Russia's reserves are estimated until the end of February, according to the latest data of the Russian Central Bank at about 73.6 million ounces, or about $ 119.8 billion.

Technical analysis

The decline in the price of gold stopped at the pivotal support 1571.20, which represents the support level of the main bullish channel that meets the 50% Fibonacci correction level, noting that the stochastic indicator continues to provide oversold signals in the sale, which provides positive opportunities to resume the main bullish trend during the upcoming sessions, pending Test levels of 1599.10 then 1633.60 initially.

Thus, we are likely to witness positive trading today, so that the bullish scenario will remain intact and active in the intraday and short term provided that the price maintains its stability above 1571.20.

The expected trading range for today is between 1570.00 support and 1610.00 resistance

Expected trend for today: bullish

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The single currency euro fell during the Asian session to witness its bounce to the fourth session from the top since March 17 against the US dollar on the threshold of developments and economic data expected today Wednesday by the economies of the euro area and the US economy the ...

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The single currency euro fell during the Asian session to witness its bounce to the fourth session from the top since March 17 against the US dollar on the threshold of developments and economic data expected today Wednesday by the economies of the euro area and the US economy the largest economy in the world.

At exactly 05:02 AM GMT, the euro against the US dollar fell 0.13% to 1.1017 levels compared to the opening levels at 1.1031 after the pair achieved its lowest level during the trading session at 1.1006, while it achieved the highest at 1.1039.

Markets are looking by Germany, the region’s largest economy, to reveal the retail sales index reading, which may reflect a slowdown in growth to 0.1% versus 0.9% in January, as the annual reading of the same indicator may show a slowdown in growth to 1.5% against 1.8%, before For Spain, the region's fourth largest economy, to see the Manufacturing PMI reading, which may reflect a contraction to 44.0 versus an expansion of 50.4 in February.

This comes before we witness the disclosure of the reading of the manufacturing PMI for Italy, the third largest economy in the euro area, which may explain the widening of the contraction to 41.1 compared to 48.7 in February, and before the release of the final reading of the industrial purchasing managers index from France, the second largest economy in the euro area, which may reflect The contraction stabilized at 42.9 compared to 49.8 in February.

Up to the final reading of the Manufacturing PMI for Germany and the economies of the eurozone as a whole, which may explain the extent of the contraction to 45.6 compared to 45.7 in Germany and 48.0 in February, and also the expansion of the contraction to 44.7 compared to 44.8 in the region as a whole and 49.2, before we also witness about the economies The region as a whole discloses labor market data with the release of the unemployment rate reading, which may show stability at 7.4% during February.

On the other hand, investors are currently awaiting by the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the loss of 150 thousand jobs compared to 183 thousand added jobs in February, and this comes hours before the disclosure after Tomorrow, Friday, the monthly report for jobs except agricultural and unemployment rates, in addition to the average hourly earnings for the month of March.

Markets are also looking to reveal the final reading of the manufacturing PMI by Markit for the United States, which may reflect the widening contraction to 48.2 compared to 49.2 in the initial reading last month and against expansion at 50.7 in February, before we witness the release of the spending index reading On construction, which shows growth slowed to 0.6% versus 1.8% in January.

This comes in conjunction with the disclosure also by the largest industrialized country in the world about the reading of the Institute of Industrial Supply index, which may show a contraction to 44.9 compared to a expansion at 50.1 in February, while a reading of the Institute of Industrial Supply measured in prices may indicate the extent of the contraction to 41.6 Versus 45.9, and we would like to point out, because the reading reading at a value of 50 or higher reflects a widening, while its reading below 50 indicates a contraction.

Technical analysis

  

The EURUSD pair maintained its stability above 1.0966 after trying to break it yesterday, and by looking carefully at the chart, we find that the price has completed forming an upward continuation flag pattern after penetrating the descending sub-channel resistance that appears in the image, which constitutes a positive incentive that we expect to contribute to the price To resume the bullish trend during the upcoming sessions.

From here, we expect a positive trading today, and targets start with the breach of 1.1067 to confirm opening the way for a visit to the 1.1170 level as a next station, noting the importance of holding above 1.0966 to continue the expected rise.

The expected trading range for today is between 1.0950 support and 1.1150 resistance

Expected trend for today: bullish

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The Australian dollar fluctuated in a narrow range slanting back down during the Asian session to witness its bounce for the second consecutive session from the top since March 16 against the US dollar following the developments and economic data that they followed about the Australian economy, which included the ...

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The Australian dollar fluctuated in a narrow range slanting back down during the Asian session to witness its bounce for the second consecutive session from the top since March 16 against the US dollar following the developments and economic data that they followed about the Australian economy, which included the disclosure of the stimulus of the Australian Central Bank meeting and on the cusp of Economic developments and data expected today by the US economy, the largest economy in the world.

 

At 02:05 am GMT, the Australian dollar pair declined against the US dollar by 0.29% to 0.6113 levels compared to the opening levels at 0.6131, after the pair achieved its lowest level during the trading session at 0.6109, while achieving the lowest at 0.6159.

 

We have followed on from the Australian economy the release of the manufacturing index reading by the Australian Industrial Group (AIG), which showed a widening to 53.7 compared to a contraction at 44.3 last February, and this came before we witness the Reserve Bank of Australia unveiling the minutes of its meeting held on 19 March March, in which he suddenly decided to cut interest rates by 25 basis points, to the lowest ever level to 0.25%.

 

It is noteworthy that the Reserve Bank of Australia Governor, Philip Lowe Noh at the time, because the sudden rate cut came as part of efforts to support his country's economy from the repercussions of the global outbreak of the Corona virus, while expressing the fact that at some point the virus will be contained and the economy will recover, pointing out that in the meantime, one of the priorities The Australian central bank supports jobs, income, and companies, so that when the health crisis is limited, the country is well positioned to recover strongly.

 

In the same vein, Lowe also stated at the time that short-term benchmark interest rates will not be increased until progress is made toward full employment, while confirming his confidence that inflation will be sustainably within the target range between two and three percent, adding that the return target on Australian government bonds with a three-year term at around 0.25% and that this will be achieved by purchasing government bonds on the secondary market.

 

Lowe also explained that the Australian central bank will provide financing facilities for a period of three years to accredited institutions at a fixed rate of 0.25% and that these institutions will be able to obtain initial financing of up to 3% of the existing credit and will have the possibility of obtaining additional financing if they increase lending to businesses, especially small companies And medium, indicating that credit facilities are estimated at least 90 billion Australian dollars.

 

Lowe also emphasized that the Bank of Australia is moving forward in providing liquidity to the Australian financial markets through conducting repurchases for one month and three months within daily market operations until further notice, in addition to conducting long-term repo operations for at least six months or longer per week as long as the Market conditions require this, while expressing that the Australian financial system will be resilient and in a good position to deal with the effects of the virus.

We would like to point out that the sudden reduction of the short-term benchmark interest rates by the Bank of Australia's last reserve came less than three weeks after reducing it in the third meeting of March by 25 basis points to 0.50% and after stabilizing it in the previous three meetings after it was lowered year Last three times, 25 basis points, to 0.75%.

Other than that, we also followed up on the Australian economy a little while ago to disclose data on the housing market with the release of the Building Permits Index, which showed a rise of 19.9% ​​compared to a decline of 15.1%, which adjusted from a decline of 15.3% last January, outperforming expectations that indicated An increase of 3.1%, as the annual reading of the same index showed an increase of 0.8% against a decline of 0.4%, which was modified from a decline of 0.3% in the previous annual reading.

On the other hand, investors are currently awaiting by the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect the loss of 150 thousand jobs compared to 183 thousand added jobs in February, and this comes hours before the disclosure after Tomorrow, Friday, the monthly report for jobs except agricultural and unemployment rates, in addition to the average hourly earnings for the month of March.

Markets are also looking to reveal the final reading of the manufacturing PMI by Markit for the United States, which may reflect the widening contraction to 48.2 compared to 49.2 in the initial reading last month and against expansion at 50.7 in February, before we witness the release of the spending index reading On construction, which shows growth slowed to 0.6% versus 1.8% in January.

This comes in conjunction with the disclosure also by the largest industrialized country in the world about the reading of the Institute of Industrial Supply index, which may show a contraction to 44.9 compared to a expansion at 50.1 in February, while a reading of the Institute of Industrial Supply measured in prices may indicate the extent of the contraction to 41.6 Versus 45.9, and we would like to point out, because the reading reading at a value of 50 or higher reflects a widening, while its reading below 50 indicates a contraction.

Technical analysis

  

The Australian dollar versus the US dollar tested the 0.6097 level and maintains its stability above it until now, to start attempts to return to the bullish channel that appears in the picture, noting that the stochastic indicator provides a positive crossover now, which constitutes a positive incentive that we expect to contribute to push the price to rise during the sessions Coming.

Therefore, the bullish trend scenario will remain intraday, provided that the price maintains its stability above 0.6097, while noting that our next main target is at 0.6236.

The expected trading range for today is between 0.6050 support and 0.6236 resistance.

Expected trend for today: bullish.

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AUDUSD 

The overall trend is downward. The 0.6210 resistance level is holding back buyers. The ascending H4 level pattern ended with a breakout of the inclined channel. Awesome Oscillator shows bearish divergence, while Stochastic Oscillator signals overboughtness. Breaking through the support level of 0.6080 will result in the ...

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AUDUSD 

The overall trend is downward. The 0.6210 resistance level is holding back buyers. The ascending H4 level pattern ended with a breakout of the inclined channel. Awesome Oscillator shows bearish divergence, while Stochastic Oscillator signals overboughtness. Breaking through the support level of 0.6080 will result in the formation of a descending pattern within the C wave of the overall downtrend.

Trading recommendations:

Sell below 0.6080 (while a descending wave pattern is forming).

A stop loss of 0.6210.

Target levels: 0.5867; 0.5720; 0.5520.

The AUDUSD rate online: monitor the movement of the pair in real time.

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#TATN

Oil prices continue to update the lows, and the problem is no longer in the inability or unwillingness of the OPEC+ countries to agree on a reduction in oil production, but in the low demand due to the global quarantine measures in response to the COVID-19 pandemic outbreak.

The ...

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#TATN

Oil prices continue to update the lows, and the problem is no longer in the inability or unwillingness of the OPEC+ countries to agree on a reduction in oil production, but in the low demand due to the global quarantine measures in response to the COVID-19 pandemic outbreak.

The overall trend is downward. A start fractal formed below 135 moving average. Breaking through the start fractal will result in the formation of a downward wave pattern within the framework of a general downtrend. A bearish divergence has formed on Awesome Oscillator.

Trading recommendations:

Sell ​​below 534.00.

Stop loss: 586.00.

Target levels: 507.00; 477.00; 412.00.

The #TATN rate online: monitor the movement of the shares in real time.

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AUDUSD

The COVID-19 situation forces investors to exercise caution, which is expressed in limited purchases and sales of assets. The factor of uncertainty still hangs over the markets. The expected extremely weak US employment data from ADP today and from the Department of Labor on Friday puts pressure on the ...

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AUDUSD

The COVID-19 situation forces investors to exercise caution, which is expressed in limited purchases and sales of assets. The factor of uncertainty still hangs over the markets. The expected extremely weak US employment data from ADP today and from the Department of Labor on Friday puts pressure on the pair and on the demand for risk assets in general.

Technical side:

The price is above the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages suggwat selling. RSI crosses the 50% level and also gives a sell signal. Stoch are turning down.

Trading recommendations:

Sell the pair after its decline below 0.6080 with a likely local target of 0.5945.

The AUDUSD rate online: monitor the movement of the pair in real time.

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USDCAD

The recovery of crude oil prices amid the extremely positive PMI in China, which rose above the key value of 50 to 52.0, may put pressure on the pair and contribute to its local decline. Rising stock indices and demand for risk assets will also contribute to this ...

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USDCAD

The recovery of crude oil prices amid the extremely positive PMI in China, which rose above the key value of 50 to 52.0, may put pressure on the pair and contribute to its local decline. Rising stock indices and demand for risk assets will also contribute to this.

The price is above the middle Bollinger band, above the EMA 5 and SMA 14. RSI is above the 50% level and indicates a weakening of growth. Stoch are turning up in the overbought zone.

Trading recommendations:

A decline in the price below 1.4170 will lead to a limited drop to 1.3930.

The USDCAD rate online: monitor the movement of the pair in real time.

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#ADS

The overall trend is downward. The 215.0 level is holding back buyers. A start fractal has formed below the 135 moving average. Bearish divergence formed on the Awesome Oscillator indicator, and Stochastic Oscillator indicator showed an exit from the overbought zone. 

Trading recommendations:

Sell on the breakout of ...

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#ADS

The overall trend is downward. The 215.0 level is holding back buyers. A start fractal has formed below the 135 moving average. Bearish divergence formed on the Awesome Oscillator indicator, and Stochastic Oscillator indicator showed an exit from the overbought zone. 

Trading recommendations:

Sell on the breakout of the start fractal: 199.00.

Stop loss: 215.00.

Target levels: 184.00; 164.00.

The #ADS rate online: monitor the movement of the shares in real time.

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The US dollar rose during the Asian session to witness its bounce for the second consecutive session from the lowest since March 18 against the Japanese yen after the developments and economic data that it reported on the Japanese economy and on the cusp of developments and economic data expected ...

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The US dollar rose during the Asian session to witness its bounce for the second consecutive session from the lowest since March 18 against the Japanese yen after the developments and economic data that it reported on the Japanese economy and on the cusp of developments and economic data expected today by the American economy, the largest economy in the world and in Following the expansion of the industrial and services sector, contrary to expectations in China, the largest trading partner of Japan and the United States.

At exactly 05:58 AM GMT, the US dollar pair rose against the Japanese yen by 0.45% to 108.25 levels compared to the opening levels at 107.76, after the pair achieved its highest level during the trading session at 108.72, while achieving the lowest at 107.74.

We have followed on from the Japanese economy to disclose many economic data for the month of February, starting from the disclosure of labor market data with the release of the unemployment rate index, which showed stability at 2.4% during the past month, in line with expectations and passing through the seasonally adjusted reading of a sales index Retail up 0.2%, compared to a decline of 1.5% last January, contrary to expectations that the decline will reach 1.6%.

The annual reading of the retail sales index also showed an increase of 1.7% compared to a decline of 0.4% in January, contrary to expectations that the decline was reduced to 1.5%, in conjunction with the disclosure of industrial sector data for the third largest industrial country globally with the release of the initial reading of industrial production, which Growth slowed to 0.4% versus 1.0% in January, outperforming expectations for stability at zero levels.

In the same context, the annual reading of the industrial production index showed that the decline widened to 4.7% compared to 2.3% in January, surpassing expectations that indicated a decline to 4.8%, and finally we followed the disclosure of housing market data with the release of the beginning of the beginning of the index of the starting house index Its establishment showed that the decline declined to 12.3% compared to 10.1% in January, outperforming expectations that the decline declined to 14.6%.

On the other hand, investors are currently waiting for the US economy to disclose housing market data with the release of the house price index, which may show a slowdown in growth to 0.40% compared to 0.43% last December, and the annual reading of the S&P House Price Index showed an acceleration Growth to 3.29% versus 2.85% in the previous annual reading for December.

This comes before we witnessed by the largest industrialized country in the world, the disclosure of industrial sector data with the release of the Chicago PMI reading, which may reflect the widening of the contraction to 44.1 compared to 49.0 in February, up to the disclosure of the consumer confidence index reading that may appear Breadth shrank to 115.1 from 130.7 in the previous reading in February.

It is noteworthy that US President Donald Trump recently signed a stimulus package estimated at $ 2 trillion to support the largest economy in the world and American families and companies in facing the repercussions of the Corona virus, after the package was passed by the US Congress last week, and Trump approved last Sunday the extension Guidelines for social restrictions in the United States until next April 30.

Technical analysis

  

The dollar versus yen pair was unable to hold long below 107.68, to open today positively and try to compensate for some of its recent losses, but it faces good resistance formed by the moving average 50 around 108.75, which supports the chances of bouncing back to resume the negative scenario suggested in our recent reports, whose objectives begin Breaking the level of 107.68 to open the way for heading towards 106.44.

Therefore, the downside trend will remain favorable for the coming period unless the price rushes to breach the 109.20 level and hold above it.

The expected trading range for today is between 107.40 support and 109.20 resistance.

Expected trend for today: Overall decline.

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