Weekly Overview

US Dollar Index

The dollar index is trading in a horizontal range between 103.030 as a resistance line and 101.765 and 101.365 as a support area.
A positive start for the US dollar index as a result of the rise in oil prices, as it rose by 0.47% at the opening of trading today.
With the end of last week and the personal consumption expenditures index recording a negative reading at a rate of 0.3%, expectations rose for a decrease in the inflation rate, until the rise in oil prices, as it had a high impact on the rise in inflation rates in previous issues, as it puts the dollar index in conflict between an increase or a decline
Note: This week includes employment data for the United States, which greatly affected the movements of the US dollar

Gold

Gold is technically trading in a downward trend after breaching 1967.66 level and recording a bottom below, and maintaining the 2010 level maintains the negative scenario
The US dollar traded in a horizontal range that reflects the movements of gold, as it trades in the same way, with horizontal trading between the 2010 level as a resistance line and the 1934.29 level as a support line, traders have to wait for the breach of the 1934.29 level to complete the bearish trend
Employment data for the US dollar during this week will greatly affect gold prices, which raises the possibility of gold breaching the resistance or support level to clarify the next trend

Crude Oil

Crude oil opened in a positive price gap, up by about 7.19%, as a result of the sudden decision by OPEC Plus members to cut production yesterday
In the event that crude oil records in the four-hour frame below the level of 78.86, there is a high probability that the oil will decline to the level of 75.60 and close the price gap before resuming the bullish trend in which it has been trading since 3/22/2023

Euro against US Dollar

The euro rose against the US dollar in the past week, touching the level of 1.0920, and retreating again, with the release of the consumer price index, on an annual basis, and recording a negative reading of 6.9%, less than the expectations that indicated 7.1%, to decline again to the level of 1.078.
This pair is still trading in a downward trend over the course of the four hours, as a result of recording a bottom below the level of 1.07554 as a negative and reflexive sign for the direction of this pair, and maintaining the level of 1.09291 remains the negative scenario and the possibility of a decline to the level of 1.07120

British Pound against US Dollar

The pound sterling touched the level of 1.24110, which represents a very important resistance line, as this pair touched it on 1/22/2023, and it fell by about 4.9%, or about 600 points, and on 12/13/2022, it fell by about 4.6%, or about 500 points.
The current rise is corrective, and touching the level of 1.23725 represents a selling opportunity for this pair, and the target is at the level of 1.23796.
Recording a top of the highest level at 1.24229 cancels out the negative scenario for this pair

The most important economic data and news for this week

Monday, 3 April

US Dollar: Manufacturing PMI

Tuesday, April 4th

Australian dollar: rate decision by the Australian central bank
US dollar: job opportunities
New Zealand dollar: interest rate decision by the New Zealand central bank

Wednesday, April 5th

US Dollar: Change in Nonfarm Payrolls (ADP)
ISM Services PMI

Thursday, April 6th

Canadian dollar: rate of change in employment
Unemployment rate
US dollar: Unemployment Claims Rates

Friday, April 7th

US dollar: rate of change in non-farm employment
Unemployment rate
Average hourly wages