Analytic reviews

#SBER

The overall movement is downward. The wedge pattern has formed. The moving averages of Stochastic Oscillator are directed downward and signal overboughtness. Breaking through the lower border of the pattern will result in a further downward movement.

Trading recommendations:

Sell below 182.00.

Stop loss: 191.00.

Target levels: 173.24; 165.50.

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

USDRUB 

The ruble is supported by the sharp recovery in crude oil prices last week in anticipation of the new round of negotiations between the US, Russia and Saudi Arabia on pricing policy and crude oil production volumes. Another positive factor is the continuing demand for federal loan bonds from non-residents and the growing interest in the shares of Russian companies. The first indicators of the decline of the coronavirus pandemic in Europe and the USA are also a plus, although at the moment it’s too early to talk about a definite end.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and gradually decreases. Stoch are in the oversold zone.

Trading recommendations:

Sell the pair after it consolidates below 76.75 with a likely decrease to 75.00.

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

AUDCHF

The overall trend is downward. The resistance level of 0.5963 is holding back buyers. A breakout of the support level of 0.5830 will result in the formation of a descending 1-2-3 pattern within the overall downtrend. Also, sell below 135 EMA.

Trading recommendations:

Sell below 0.5830.

Stop loss: 0.5963.

Target levels: 0.5727; 0.5630.

A reversal is possible at the completion of the descending pattern and the formation of the ascending pattern.

(This means closing the current trade and opening an opposite one with the opposite signal)

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

#AXP

The 75.50 support level is holding back sellers. Bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversoldness. 

Trading recommendations:

Buy while an ascending 1-2-3 pattern is forming.

Stop Loss at the local minimum (75.50).

Target levels: 81.00; 85.00; 90.50.

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

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its bounce for the second session from the lowest since March 18, and to promise to resume its weekly gains that were suspended last week for the first time in three weeks against the Japanese yen amid the scarcity of economic data in the last sessions Week by the Japanese economy and on the cusp of developments and economic data expected today, Friday, by the US economy.

At 06:02 am GMT, the US dollar pair rose against the Japanese yen by 0.01% to 107.92 levels compared to the opening levels at 107.91, after the pair achieved its highest level during the trading session at 108.20, while achieving the lowest at 107.80.

We followed yesterday, Japanese Prime Minister Shinzo Abe stated that his government will work with local administrations to contain the outbreak of the Corona Virus, while touching that his government discussed whether there is a need to declare a state of emergency in Japan or not, and this happened hours after Abe announced Wednesday his government’s decision To detain all expatriates from his country from outside Japan for a period of 14 days in quarantine, and the decision includes Japanese coming from abroad.

Also, last Wednesday, Japanese Prime Minister Abe announced a ban on arrivals from 49 foreign countries to his country until further notice, and this came hours after a Japanese government spokesman expressed the priority at the present time to put the spread of the Corona virus under control, and that the current situation does not require The government resorted to establishing a state of emergency in Japan, denying the report that recently raised the possibility of Japan declaring a state of emergency at the beginning of this month.

In another context, we followed Wednesday, Bank of Japan Governor Haruhiko Kuroda expressed his admission that central banks cannot deliver banknotes printing for an extended period without borders, while touching that his country is not facing a crisis in price stability at the moment, and informed him that the Bank of Japan is still The growth of inflation is targeted to around 2%, and in order to do so, it will adjust monetary policy when needed to maintain price stability.

On the other hand, investors are currently waiting for the US economy to disclose labor market data with the release of the employment change index for sectors other than agriculture, which may reflect the loss of 100 thousand jobs compared to 273 thousand added jobs in February, while the average income index reading may show Hourly growth slowed to 0.2% versus 0.3%. This is with the unemployment rate reading showing an increase from the lowest in five decades at 3.5% to 3.8%.

This comes before we witness the issuance of the final reading of the Service Supply Institute index by Markit for the United States, which may reflect the widening of the contraction to 38.7 compared to 39.1 in the initial reading for the past month and against a contraction at 49.4 in February, and before revealing the reading of the Institute of Supply Index Service, which may show a contraction of 43.5 compared to 57.3 in February.

We would like to point out, because the reading issuance at 50 or higher reflects a widening, while its issuance is less than 50 indicating a contraction, and that the service provision in America lies in the fact that the service sector represents more than two-thirds of the gross domestic product, otherwise, Wednesday, US President Donald Trump warned of The coming period is "painful" for his country, after he recently announced the extension of the quarantine in America until the end of this month to limit the spread of the Corona virus.

Technical analysis

Yesterday, the dollar pair fell against the yen at 106.90, to rebound up and settle above 107.68 again, affected by the positivity of the stochastic, but we note that the EMA50 continues to press negatively on the price, so opportunities remain to resume the downside correction, awaiting the visit of the 106.44 level as a station deification.

On the other hand, it should be noted that failure to trade below 107.68 again and a breakout of 108.50 will push the price to achieve more intraday gains and test the level of 109.20 before any new negative attempt.

The expected trading range for today is between 106.70 support and 109.20 resistance.

Expected trend for today: Overall decline.

Gold price futures fluctuated in a narrow range tilted toward retreat during the Asian session, promising to resume their weekly losses that were suspended last week for the first time in three weeks amid the US dollar index rebounding to the fourth session in six sessions from the lowest since March 17, according to the reverse relationship. Between them on the threshold of economic developments and data expected on Friday by the US economy and in the shadow of concern about the repercussions of the outbreak of the Corona virus globally.

At exactly 04:43 AM GMT, gold price futures for June delivery decreased 0.19% to trade at $ 1,632.20 per ounce compared to the opening at $ 1,635.30 per ounce, knowing that the contracts started the session’s trading on a falling price gap after it concluded yesterday's trading At $ 1,637.70 an ounce, with the US dollar index rising 0.04% to 100.26 compared to the opening at 100.21.

Investors are currently awaiting by the US economy the disclosure of labor market data with the release of the employment change index for sectors other than agriculture, which may reflect the loss of 100 thousand jobs compared to 273 thousand added jobs in February, while the reading of the average hourly income index may indicate a slowdown Growth to 0.2% versus 0.3%. This is with the unemployment rate reading showing an increase from the lowest in five decades at 3.5% to 3.8%.

This comes before we witness the issuance of the final reading of the Service Supply Institute index by Markit for the United States, which may reflect the widening of the contraction to 38.7 compared to 39.1 in the initial reading for the past month and against a contraction at 49.4 in February, and before revealing the reading of the Institute of Supply Index Service, which may show a contraction of 43.5 compared to 57.3 in February.

We would like to point out, because the reading issuance at 50 or higher reflects a widening, while its issuance is less than 50 indicating a contraction, and that the service provision in America lies in the fact that the service sector represents more than two-thirds of the gross domestic product, otherwise, Wednesday, US President Donald Trump warned of The coming period is "painful" for his country, after he recently announced the extension of the quarantine in America until the end of this month to limit the spread of the Corona virus.

In another context, we followed last Monday the announcement of the Russian Central Bank, the largest buyer of gold globally, about its intention to stop its purchase of gold at the beginning of April, and he did not provide reasons for that suspension, with his statement that his future decisions will depend on the state of the financial markets, and we would like to point out that the outbreak Corona halted hundreds of flights, preventing gold from being transported and disrupting global supply chains.

Technical analysis

Gold price confirmed the breach of the level of 1599.10 after the daily candle closed above it, to support the expectations of continuing the bullish trend, waiting for the test of the 1633.60 level as a next positive station, noting that breaching this level will extend the upside wave to reach the 1689.30 areas in the near term.

Consequently, we will continue to favor the bullish trend during the upcoming sessions supported by the EMA50, noting that the continuation of the bullish wave requires stability above 1571.20.

The expected trading range for today is between 1590.00 support and 1650.00 resistance.

Expected trend for today: bullish.

The single currency fluctuated the euro in a narrow range slanting back down during the Asian session to witness its bounce for the sixth session from the top since March 17, and to promise to resume its weekly losses that stopped last week for the first time in three weeks against the US dollar on the cusp of developments and economic data expected today Friday by the economies of the euro area and the US economy, the largest economy in the world.

At 05:42 am GMT, the euro against the US dollar fell 0.08% to 1.0849 levels compared to the opening levels at 1.0858 after the pair achieved its lowest level during the trading session at 1.0833, while achieving the highest at 1.0864.

The markets are looking to release the treasury budget reading for France, the second largest economy in the euro area, before we witness by Spain, the fourth largest economy in the region, to reveal the reading of the services PMI, which may show a contraction of 25.6 compared to a expansion of 52.1 in February, before To see the same index reading for Italy, the region's third largest economy, which may also reflect a contraction to 22.4 versus a widening of 52.1.

Investors are also looking for France to disclose the final reading of the Services PMI, which may show the contraction stable at 29.0 unchanged from the initial reading for the past month and against a widening at 52.5 in the previous reading for February, before the final reading of the same index for Germany, the largest economy The area which might explain the contraction widened to 34.3 compared to the previous reading at 34.5, versus the breadth at 52.5.

To reveal the final reading of the services PMI for the euro area as a whole, which may show the widening of the contraction to 28.2 compared to the contraction of 28.4 in the previous preliminary reading for the month of March, and against a expansion of 52.6 in February, as we may also witness about the economies of the euro area as a whole issued a reading The retail sales index for the euro area as a whole, which may explain the slowdown in growth to 0.1% compared to 0.6% last January.

On the other hand, investors are currently waiting for the US economy to disclose labor market data with the release of the employment change index for sectors other than agriculture, which may reflect the loss of 100 thousand jobs compared to 273 thousand added jobs in February, while the average income index reading may show Hourly growth slowed to 0.2% versus 0.3%. This is with the unemployment rate reading showing an increase from the lowest in five decades at 3.5% to 3.8%.

This comes before we witness the issuance of the final reading of the Service Supply Institute index by Markit for the United States, which may reflect the widening of the contraction to 38.7 compared to 39.1 in the initial reading for the past month and against a contraction at 49.4 in February, and before revealing the reading of the Institute of Supply Index Service, which may show a contraction of 43.5 compared to 57.3 in February.

We would like to point out, because the reading issuance at 50 or higher reflects a widening, while its issuance is less than 50 indicating a contraction, and that the service provision in America lies in the fact that the service sector represents more than two-thirds of the gross domestic product, otherwise, Wednesday, US President Donald Trump warned of The coming period is "painful" for his country, after he recently announced the extension of the quarantine in America until the end of this month to limit the spread of the Corona virus.

Technical analysis

The euro against the dollar trades stable at our first target 1.0840, and the price finds strong support there, but we expect to cross this level to open the way for heading towards our extended targets that reach 1.0700 then 1.0640, where the negative impact of the head and shoulders pattern is still effective.

Consequently, the downside trend will remain expected for the coming period, provided stability remains below 1.0966, with attention to the importance of being cautious during today's trading, as markets await unemployment and wages data on the American economy, which may cause strong and mixed trading in the markets, especially in light of the current conditions that relate to damage Economy due to the global epidemic and the spread of Corona virus

The expected trading range for today is between 1.0640 support and 1.0966 resistance.

Expected trend for today: bearish.

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session. Today, Friday, by the American economy, the largest economy in the world.

At exactly 03:58 AM GMT, the Australian dollar pair rose against the US dollar by 0.07% to 0.6065 levels compared to the opening levels at 0.6061, after the pair achieved its highest level during the trading session at 0.6068, while achieving the lowest at 0.6046.

We have followed on from the Australian economy the release of the construction index reading by the Australian Industrial Group (AIG), which showed the contraction widened to 37.9 compared to 42.7 last February, and this came before we witnessed the release of the retail sales index, which indicated the acceleration of growth to 0.5 % Compared to the previous reading for February and expectations at 0.4%.

On the other hand, investors are currently waiting for the US economy to disclose labor market data with the release of the employment change index for sectors other than agriculture, which may reflect the loss of 100 thousand jobs compared to 273 thousand added jobs in February, while the average income index reading may show Hourly growth slowed to 0.2% versus 0.3%. This is with the unemployment rate reading showing an increase from the lowest in five decades at 3.5% to 3.8%.

This comes before we witness the issuance of the final reading of the Service Supply Institute index by Markit for the United States, which may reflect the widening of the contraction to 38.7 compared to 39.1 in the initial reading for the past month and against a contraction at 49.4 in February, and before revealing the reading of the Institute of Supply Index Service, which may show a contraction of 43.5 compared to 57.3 in February.

We would like to point out, because the reading issuance at 50 or higher reflects a widening, while its issuance is less than 50 indicating a contraction, and that the service provision in America lies in the fact that the service sector represents more than two-thirds of the gross domestic product, otherwise, Wednesday, US President Donald Trump warned of The coming period is "painful" for his country, after he recently announced the extension of the quarantine in America until the end of this month to limit the spread of the Corona virus.

Technical analysis

The Australian dollar pair trades against the US dollar bounced lower after testing the 0.6097 level yesterday, to keep the downside scenario effective for the coming period, regular within the descending channel that appears in the picture, waiting for a test of the level of 0.5958 initially, noting that breaking this level will push the price to 0.5787 as a target Next master.

On the other hand, we remind that a break of 0.6097 will stop the suggested decline and lead the price for new gains reaching 0.6236.

The expected trading range for today is between 0.5900 support and 0.6160 resistance.

Expected trend for today: bearish.

GOLD Spot 

Gold consolidates below 1,620.00 amid the publication of the US employment data. Since the end of March, the quotes of the precious metal have been moving in the flat range of 1,570.55–1,641.00 amid the highly uncertain prospects for the global economy due to the ongoing coronavirus pandemic. Expect this pattern to continue in the near future.

Technical side:

The price is above middle Bollinger band, below SMA 5, but above SMA 14. RSI is above the level of 50% and gradually decreases. Stoch habe turned down.

Trading recommendations:

The gold price can go both up or down amid the volatile trading against the backdrop of the uncertainty caused by the pandemic. A further growth to 1,641.00 is possible if the price goes above 1,620.00. At the same time, a fall below 1,605.00 will lead to a further drop to 1,570.55.

The Gold Spot rate online: monitor the movement of metals in real time.

USDCHF

Stochastic Oscillator signals overboughtness. A bearish divergence has formed on Awesome Oscillator. Probably the ascending pattern is a wave (B) of the descending H4 level pattern.

Sell strictly while a descending wave pattern is forming, where the wave (aC) breaks through the inclined channel of the ascending pattern + bC = sell on the breakout (AC).

Stop Loss: 0.9900.

Target levels: 0.9500 (close ½ and move to breakeven); 0.9333 (138.2% Fibo)

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