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The overall trend is downward. The Stochastic Oscillator signals overboughtness, and the Awesome Oscillator shows a bearish divergence. If the price fixes below the support level of 138.50, a further drop within the overall downtrend will be possible.

Trading recommendatons:

Sell below 138.50.

Stop loss: 140.00.

Target levels: 137.50; 135.70; 133.30.

The price pivot zone of 0.9790 holds back buyers. A bearish divergence has formed on Awesome Oscillator indicator, and Stochastic Oscillator signals overboughtness. An ascending truncated pattern of the H4 level was formed. The lower boundary of the Ichimoku cloud serves as the resistance level.

 Trading recommendations:

Buy while a descending pattern is forming, where the wave (A) breaks through the inclined channel of the ascending truncated pattern of the H4 level.

Stop loss: 0.9790.

Target levels: 0.9720; 0.9681; 0.9623.

The pair is above 1.0860. It is under pressure due to a prospect of a softer monetary policy by the ECB. The pair may continue to drop today if Germany’s consumer inflation data shows no growth, while the Amerca’s indicator increases.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is located in the oversold zone and moves horizontally. Stoch are in the oversold zone and uninformative.

Trading recommendations:

Sell the pair with a likely target of 1.0800 after it drops below 1.0860.

Stochastic Oscillator báo hiệu mua quá mức. Awesome Oscillator cho thấy một sự phân kỳ giảm giá. Biểu đồ cho thấy một đột phá sai. Một đột phá của vùng trục giá 341.72 sẽ dẫn đến mô hình giảm dần 1-2-3.

Đề xuất giao dịch:

Bán khi giá được cố định dưới vùng trục giá 341.72.

Dừng lỗ: 347.82.

Cấp mục tiêu: 335.86; 325.42; 315.

Stochastic Oscillator signals overboughtness. Awesome Oscillator shows a bearish divergence. The chart shows a false breakout. A breakout of the price pivot zone of 341.72 will result in a descending pattern 1-2-3.

Trading recommendations:

Sell as the price is fixed below the price pivot zone of 341.72.

Stop Loss: 347.82.

Target levels: 335.86; 325.42; 315.

Analysis based on round-number levels, price channels and modified Elliot Waves

EURUSD

Daily timeframe shows the pair reaching the support level of 1.0890. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals oversoldness.

Ascending pattern 1-2-3 is forming on the H1 timeframe. The price is within the range of the round important level of 1.0900. Round secondary level 1.0920 was already tested by a supposed wave 1. Aweseome oscillator shows a bullish divergence.

Trading recommendations:

Buy above 1.0925.

Stop Loss: 1.0890.

Target levels: 1.0950 (close 0.5 and move to breakeven); 1.1000.

The pair is trading at 1.0905. It’s expected to resume falling amid the weaker EU economy and the ECB’s vague monetary policy position. USD is consolidating against EUR primarily thanks to the weakness of the latter, and not due to its intrinsic strength.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is on the level of the oversold zone. Stoch have reversed downwards.

Trading recommendations:

Sell the pair with a possible target of 1.0850 after it goes below 1.0905.

The single currency fluctuated the euro in a narrow range slanting back down during the Asian session to witness its stability near its lowest since the beginning of October, when it tested the lowest since 12 May 2017 against the dollar on the cusp of developments and economic data expected today Wednesday by the economies The Eurozone and the US economy, which includes the activities of the second half of Federal Reserve Governor Jerome Powell's testimony before Congress.

At 04:51 am GMT, the euro against the US dollar fell 0.03% to 1.0913 levels compared to the opening levels at 1.0916, after the pair achieved its lowest level during the trading session at 1.0912, while achieving the highest at 1.0921.

Markets are looking for euro zone economies as a whole to disclose data on the industrial sector with the release of a seasonally adjusted reading of the industrial production index, which may reflect a 1.8% decline against a rise of 0.2% last November, while the annual reading of the same indicator may show a widening decline to 1.9% Compared to 1.5% in the prior annual reading for November.

Other than that, yesterday we followed the talk of European Central Bank Governor Christine Lagarde about the European Central Bank’s annual report to the European Parliament in Strasbourg, through which it expressed that the side effects of monetary policy expand over time and that monetary policy cannot become the main driver in the markets , Explaining that the longer the facilitative monetary policy is extended for a longer period, this will have an expanded negative impact.

On the last level, investors are currently looking for what will be revealed by the speech of Federal Open Market Committee member and Chairman of the Federal Reserve Bank Patrick Harker about the economic outlook in the state of Pennsylvania, before we witness the activities of the second half of the semi-annual testimony of the Governor of the Federal Reserve Jerome Powell Cash before the Senate Banking Committee.

This comes hours after the Federal Reserve Governor Powell delivered on Tuesday the first half of his semi-annual testimony about monetary policy before the Financial Services Committee in the House of Representatives, through which he expressed the fact that the current monetary policy of the Federal Reserve is appropriate and that inflation is expected to rise to the goal of the Federal Market Committee Open at two percent in the next few months with his statement that core inflation is at 1.6 percent.

Powell also noted yesterday that the Federal Reserve began facilitating monetary policy to support the economy since the second half of last year, and that the current monetary policy supports growth and contributed to improving conditions in the labor market in addition to supporting the growth of inflationary pressures towards the goal of the Federal Committee, adding that the Federal Reserve places in Considering that reducing interest on federal funds more broadly limits its ability to act at the time of an economic recession.

Powell reiterated, within his testimony before Congress, his expectations that the Federal Committee would go ahead in purchasing bonds during the second quarter of this year and that the repo rate will remain active in the markets until next April at the very least, and we would like to point out that many market analysts believe that the reserve operations The Federal Reserve is a form of quantitative easing that is left untouched, while the Federal Reserve refuses to call a quantitative easing on what it does.

In another context, Powell mentioned the Corona virus, which killed more than a thousand people, mostly in China, specifically in the city of Wuhan, which Corona started, where he asked whether the impact of the deadly virus on China and the United States is temporary or permanent, explaining that it is too early to talk about The extent of its impact on his country's economy, adding that the Federal Reserve will closely monitor developments related to the virus, which may affect global supply chains, including America.

It is reported that US President Donald Trump tweeted yesterday on his official account on Twitter during Powell's testimony before Congress, "The interest on federal funds is very high and the US dollar is putting pressure on exports". Otherwise, investors are now looking by the US economy for the Treasury to reveal the Federal Budget reading That could reflect the deficit shrinking to $ 10.7 billion, compared to $ 13.3 billion last December.

Technical analysis

The EURUSD pair presented additional negative trades yesterday and approached our awaited target at 1.0860, noting that the stochastic indicator lost its positive resolve to show clear saturation in the purchase, waiting for price stimulus to resume the bearish bias whose targets extend to 1.0760 after exceeding the first goal.

In general, we will continue to favor the bearish trend for the next period unless the price rushes to breach the 1.1010 level and stability above it.

The expected trading range for today is between 1.0830 support and 1.0980 resistance.

Expected trend for today: bearish.

Gold price futures fluctuated in a narrow range tilted to the upside during the Asian session to witness the resumption of its rebound from the lowest since January 22 for the fifth session in six sessions amid the rebound of the US dollar index for the second consecutive session from the highest since October 10 / October, according to the inverse relationship between them on the cusp of developments and economic data expected today Wednesday by the US economy, which includes the activities of the second half of the semi-annual testimony of Federal Reserve Governor Jerome Powell in front of Congress.

At exactly 03:55 AM GMT, gold price futures for April delivery rose 0.01% to trade at $ 1,571.30 per ounce compared to the opening at $ 1,571.20 per ounce, knowing that the contracts started the trading session on an upward price gap after yesterday's trading was concluded At $ 1,570.10 per ounce, with the US dollar index down 0.03% to 98.75 compared to the opening at 98.78.

Investors are currently looking for what will be revealed by the speech of Federal Open Market Committee member and Chairman of the Federal Reserve Bank Patrick Harker about the economic outlook in the state of Pennsylvania, before we witness the activities of the second half of the Federal Reserve Governor Jerome Powell's statement regarding monetary policy before the committee Banking in the Senate.

This comes hours after the Federal Reserve Governor Powell delivered on Tuesday the first half of his semi-annual testimony about monetary policy before the Financial Services Committee in the House of Representatives, through which he expressed the fact that the current monetary policy of the Federal Reserve is appropriate and that inflation is expected to rise to the goal of the Federal Market Committee Open at two percent in the next few months with his statement that core inflation is at 1.6 percent.

Powell also noted yesterday that the Federal Reserve began facilitating monetary policy to support the economy since the second half of last year, and that the current monetary policy supports growth and contributed to improving conditions in the labor market in addition to supporting the growth of inflationary pressures towards the goal of the Federal Committee, adding that the Federal Reserve places in Considering that reducing interest on federal funds more broadly limits its ability to act at the time of an economic recession.

Powell reiterated, within his testimony before Congress, his expectations that the Federal Committee would go ahead in purchasing bonds during the second quarter of this year and that the repo rate will remain active in the markets until next April at the very least, and we would like to point out that many market analysts believe that the reserve operations The Federal Reserve is a form of quantitative easing that is left untouched, while the Federal Reserve refuses to call a quantitative easing on what it does.

In another context, Powell mentioned the Corona virus, where he asked whether the effect of the deadly virus on China and the United States is temporary or permanent, explaining that it is too early to talk about the impact of the spread of coronavirus on his country's economy, adding that the Federal Reserve will closely monitor developments Related to the virus that may affect global supply chains, including the United States of America.

It is reported that US President Donald Trump tweeted yesterday on his official account on Twitter during Powell's testimony before Congress, "The interest on federal funds is very high and the US dollar is putting pressure on exports". Otherwise, investors are now looking by the US economy for the Treasury to reveal the Federal Budget reading That could reflect the deficit shrinking to $ 10.7 billion, compared to $ 13.3 billion last December.

On the other hand, we followed yesterday, Chinese President Xi Jinping expressed his belief that his country won the battle of the Corona Virus, adding that China will achieve all of its economic and social goals that it had previously set and that it will become more prosperous after winning the battle, with his statement that there are clear positive results regarding Attempts to contain the dangerous virus that killed more than a thousand people, mostly in the Chinese city of Wuhan, which is the epicenter of the spread of coronavirus.

Technical analysis

Gold price provided negative trading yesterday, but it is due to fluctuation around the EMA50, to keep the upside scenario active and effective for the coming period, which aims to breach the 1575.90 level to rush towards 1611.20 which represents our next main station, while recalling that the continuation of the upside wave requires stability above 1554.10, where A breach of this level will pressure the price to make more bearish correction in the intraday basis.

The expected trading range for today is between 1555.00 support and 1590.00 resistance.

Expected trend for today: bullish.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session against the Japanese yen after the developments and economic data that it followed on the Japanese economy and on the cusp of developments and economic data expected on Wednesday by the US economy, which includes the activities of the second half of the semi-annual testimony of the Governor of the Federal Reserve Jerome Powell in front of the Congress in Washington.

At exactly 06:01 am GMT, the US dollar pair rose against the Japanese yen by 0.06% to 109.86 levels compared to the opening levels at 109.79, after the pair achieved its highest level during the trading session at 109.89, while the pair achieved its lowest at 109.77.

We have followed about the Japanese economy, the Bank of Japan revealed the annual reading of the M-2 bank lending index, which showed an acceleration in the pace of growth to 2.8%, in line with expectations, compared to 2.8% in the previous annual reading of last December, and this came before we witnessed the disclosure The annual preliminary reading of the machinery index for the past month, which reflected the widening of the decline to 35.6% compared to 33.5% in December.

On the last level, investors are currently looking for what will be revealed by the speech of Federal Open Market Committee member and Chairman of the Federal Reserve Bank Patrick Harker about the economic outlook in the state of Pennsylvania, before we witness the activities of the second half of the semi-annual testimony of the Governor of the Federal Reserve Jerome Powell Cash before the Senate Banking Committee.

This comes hours after the Federal Reserve Governor Powell delivered on Tuesday the first half of his semi-annual testimony about monetary policy before the Financial Services Committee in the House of Representatives, through which he expressed the fact that the current monetary policy of the Federal Reserve is appropriate and that inflation is expected to rise to the goal of the Federal Market Committee Open at two percent in the next few months with his statement that core inflation is at 1.6 percent.

Powell also noted yesterday that the Federal Reserve began facilitating monetary policy to support the economy since the second half of last year, and that the current monetary policy supports growth and contributed to improving conditions in the labor market in addition to supporting the growth of inflationary pressures towards the goal of the Federal Committee, adding that the Federal Reserve places in Considering that reducing interest on federal funds more broadly limits its ability to act at the time of an economic recession.

Powell reiterated, within his testimony before Congress, his expectations that the Federal Committee would go ahead in purchasing bonds during the second quarter of this year and that the repo rate will remain active in the markets until next April at the very least, and we would like to point out that many market analysts believe that the reserve operations The Federal Reserve is a form of quantitative easing that is left untouched, while the Federal Reserve refuses to call a quantitative easing on what it does.

In another context, Powell mentioned the Corona virus, which killed more than a thousand people, mostly in China, specifically in the city of Wuhan, which Corona started, where he asked whether the impact of the deadly virus on China and the United States is temporary or permanent, explaining that it is too early to talk about The extent of its impact on his country's economy, adding that the Federal Reserve will closely monitor developments related to the virus, which may affect global supply chains, including America.

It is reported that US President Donald Trump tweeted yesterday on his official account on Twitter during Powell's testimony before Congress, "The interest on federal funds is very high and the US dollar is putting pressure on exports". Otherwise, investors are now looking by the US economy to reveal the Federal Reserve reading of the federal budget That could reflect the deficit narrowing to $ 10.7 billion, compared to $ 13.3 billion in December.

Technical analysis

The dollar versus the yen did not show any strong movement yesterday, to continue to fluctuate around 109.75, and as long as the price is above 109.33, our bullish outlook will remain valid for the next period, supported by the approach of the stochastic oscillator from oversold areas, waiting to achieve our positive targets that start at 110.50 It extends to 111.50.

The expected trading range for today is between 109.30 support and 110.50 resistance.

Expected trend for today: bullish.