Analytic reviews

#ROSNEFT

The 359.50 support level held back sellers. A breakout of the price pivot zone of 368.00 will result in the formation of a 1-2-3 ascending pattern. Stochastic Oscillator indicates an oversold condition, and Awesome Oscillator shows a bullish divergence.

#ROSNEFT shares online: monitor the movement of the price in real time.

Trading recommendations:

Buy at the breakout of the price pivot zone of 368.00.

Stop loss below the support level of 359.50.

Target levels: 383.00; 406.0

NZDUSD 

The pair is trading below the strong resistance level of 0.6560, supported by the positive dynamics in Asian stock markets, which in turn rose under the influence of strong data from the US labor market published on Friday.

Technical side:

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI entered the overbought zone. Stoch are also in this zone.

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

Trading recommendations:

Buy the pair after it has passed 0.6560 with the possibility of further growth to 0.6665.

EURGBP 

The overall trend is upward. The descending pattern is truncated. A bullish divergence has formed on Awesome Oscillator. A breakout of 0.9035 will result in the formation of an ascending wave pattern within the overall uptrend.

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

Trading recommendations:

Buy above 0.9035.

Stop Loss: 0.8996.

Target levels: 0.9079; 0.9150.

When buying an option against the trend, it is necessary to consult other technical analysis tools: the presence of divergence, reversal candlestick patterns. Buy against the trend strictly on the retest level! Buying an option before important economic news releases is considered risky. The expiration time depends on the strength of the level and the confirmation by additional tools of technical and fundamental analysis.

The single currency fluctuated the euro in a narrow range slanting back down during the Asian session to witness its bounce for the second consecutive session from its highest since June 24, while it is still in the process of its second consecutive weekly gains against the US dollar on the cusp of developments and economic data expected on Friday By the economies of the euro area and amid the scarcity of economic data by the US economy due to the Independence Day holiday in America.

At 05:41 am GMT, the euro against the US dollar fell 0.04% to 1.1234 levels, compared to the opening levels at 1.1239, after the pair achieved its lowest level during the trading session at 1.1228, while achieving the highest at 1.1249.

The markets are currently looking for a second reading of the Treasury budget for June by France, the second largest economy in the eurozone, before we witness by Spain, the fourth largest economy in the region, the disclosure of the Services PMI reading, which may show a contraction of deflation to 46.0 compared to what Its value is 27.9 last May.

This comes before we witness from Italy, the third largest economy in the euro area, the release of the Services PMI reading, which may also reflect the contraction in contraction to 46.9 compared to 28.9 in May, and before the disclosure of the final reading of the same index for France, which may show stability of expansion at 50.3 Unchanged from the initial reading for the past month and against a contraction at 31.1 in May.

Up to the disclosure of the final reading of the service PMI for Germany, the largest economy in the euro area, which may show the stability of the contraction at 45.8 unchanged from the initial reading of last month and against a contraction at 45.2 in May, and showed the final reading of the same index for the economies of the euro area as a whole the contraction stability at 47.3, unchanged from the previous reading of the previous month and against a contraction of 30.5 in May.

Other than that, we followed yesterday yesterday European Commission President Ursula von Derlin expressed the fact that the European Union will not agree to the Brexit agreement at any cost, explaining that the views between Brussels and London are still very far, adding that the relations between the European Union and China have become very complicated, and that As it touched on the importance of taking the member states of the European Union into account the public interest.

Derline reported that the next six months represent a decisive period for the future of the European Union, explaining that every day that passes represents more losses in jobs and companies, adding that the challenges that existed before the Corona virus crisis remain after the crisis, expressing the Cote of the European Union needs to strengthen the market Interior and doing more to overcome the repercussions of the Corona pandemic, indicating that the crisis is unprecedented and needs unprecedented solutions.

Technical analysis

The euro against the dollar pair is returning to stability within the sideways range after the positive attempts that it witnessed in the previous sessions, which keeps the sideways control over the intraday trading, confined between the support 1.1175 and the resistance 1.1270, awaiting penetration of one of these two levels to clearly define the following goals.

We remind that breaking the support will pressure the price to achieve more downside corrective targets that start at 1.1100 then 1.1020, while breaching the resistance represents the key to restore the main bullish trend and heading to visit the 1.1420 level as the first main station.

The expected trading range for today is between 1.1160 support and 1.1350 resistance

Expected trend for today: sideways

Gold price futures fluctuated in a narrow range that tilted back down during the Asian session to witness its bounce for the second session in three sessions from its highest since September 21, 2011 amid the US dollar index rebound to the second session from the lowest since 24 of June according to the reverse relationship Between them following the economic developments and data that we adopted today, Friday, from the Chinese economy, the largest consumer of metals globally, and amid the scarcity of economic data in the last sessions by the American economy due to the Independence Day holiday in the United States.

At exactly 04:31 AM GMT, gold price futures for next August delivery fell 0.07% to trade at $ 1,786.60 per ounce compared to the opening at $ 1,787.90 per ounce, knowing that the contracts started the session’s trading on a falling price gap after it concluded trading Yesterday at $ 1,790.00 an ounce, with the US dollar index rising 0.01% to 97.23 compared to the opening at 97.22.

We have followed the disclosure of the Caixin Services PMI reading by Markit about China, which indicated an expansion to 58.4 to reflect the fastest pace of growth in a decade, compared to 55.0 last May, contrary to expectations that the expansion of the expansion to 53.8, which boosted optimism about the prospects for economic recovery from the repercussions of the Corona pandemic.

This comes hours after the US labor market data for the month of June showed that unemployment fell to 11.1% compared to 13.3% in May, outperforming expectations that it fell to 12.4%, with a reading of the employment change index for sectors except Agri created 4,800,000 jobs compared to 2,699,000 added jobs in May, beating expectations for 3,037,000.

In the same vein, yesterday's average hourly earnings index showed that the decline expanded to 1.2% compared to 1.0% in May, contrary to expectations that the decline will decrease to 0.8%. This came in conjunction with the reading of the claims requests index for the week that passed on the 26th of June, declining by 55 thousand applications to 1,427 thousand applications compared to 1,482 thousand applications in the previous reading.

This comes hours after the Federal Reserve revealed last Wednesday the minutes of the Federal Open Market Committee meeting held on 9-10 June, during which interest rates were fixed at zero levels between zero and 0.25%, which came in line with expectations At that time, with the disclosure at the time of the members ’expectations of the rates of growth, inflation and unemployment, in addition to the future of interest rates for the next three years.

Technical analysis

The gold price continues to move around the support of the bullish intraday channel, and obtains continuous positive support from the EMA50, awaiting obtaining a positive momentum enough to push the price to resume the bullish main wave, which targets the levels of 1800.00 then 1850.00.

Thus, we will maintain our bullish expectations, provided that the price maintains its stability above 1770.00 levels and most importantly above 1750.00.

The expected trading range for today is between 1760.00 support and 1800.00 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 amid the scarcity of economic data on Friday from the Japanese economy and the scarcity of economic data in the last sessions of the week by the American economy, the largest economy in the world because of the Independence Day holiday in the United States of America.

At 6:14 am GMT, the US dollar pair rose against the Japanese yen by 0.01% to 107.51 levels compared to the opening levels at 107.50, after the pair achieved its highest level during the trading session at 107.57, while achieving the lowest at 107.44.

On Thursday, we followed yesterday, the US labor market data for June showed unemployment rates fell to 11.1% compared to 13.3% in May, outperforming expectations for a decline to 12.4%, with a reading of the employment change index for sectors other than agriculture creating 4,800 thousand jobs compared to 2,699 thousand jobs added in May, beating expectations for creation of 3,037 thousand.

In the same vein, yesterday's average hourly earnings index showed that the decline expanded to 1.2% compared to 1.0% in May, contrary to expectations that the decline will decrease to 0.8%. This came in conjunction with the reading of the claims requests index for the week that passed on the 26th of June, declining by 55 thousand applications to 1,427 thousand applications compared to 1,482 thousand applications in the previous reading.

This comes hours after the Federal Reserve revealed last Wednesday the minutes of the Federal Open Market Committee meeting held on 9-10 June, during which interest rates were fixed at zero levels between zero and 0.25%, which came in line with expectations At that time, with the disclosure at the time of the members ’expectations of the rates of growth, inflation and unemployment, in addition to the future of interest rates for the next three years.

We would like to point out, because the expectations of the members of the Federal Committee included at that time that the interest on federal funds will remain at their zero levels until 2022 and that the American economy may shrink 6.5% during 2020 and that unemployment rates may reach 9.3% by the end of the current year 2020, before retreating To 6.5% in 2021 and to 5.5% in 2022.

It is noteworthy that Fed Governor Jerome Powell stressed in the press conference held after the meeting the commitment of the Federal Reserve to use all tools to support the American economy in light of the current challenges to achieve the goal of inflation, price stability and access to optimal exploitation of the labor market, explaining that the Corona virus caused health damage And expanded economics in America and abroad.

Technical analysis

The dollar against the yen trades stable below 107.68, and we notice that the stochastic is providing a negative crossover now, waiting for the price to be stimulated to resume negative trades during the upcoming sessions, where our main expected target is located at 106.44.

Therefore, we will maintain our expectations for the downside for today, noting the importance of holding below 107.68 for the continuation of the suggested decline.

The expected trading range for today is between 106.70 support and 108.00 resistance

Expected trend for today: bearish

МТС Stock  continues the sideways movement above the 322.47 support above the 20-7 moving averages, where the sideways path remains the dominant arrow movement.

The average forms 50 support levels as it moves below the price near the support.

We note that the stochastic oscillator gained a good momentum to rise, but this did not have a clear impact on the stock's movement.

Thus, we will continue to favor the sideways trend provided stability above 322.50, as breaching this level is considered an important negative key that will lead the price to try to restore the downside movement and head towards the initially areas of 301.40.

The expected trading range is between 322.47 support and 340.60 resistance

Expected trend for today: neutral