Analytic reviews

USDRUB

The pair is trading above 78.00 due to the recovering demand for crude oil and stocks of Russian companies, as well as federal loan bonds from non-residents. The ruble will be also supported by the tax period in Russia, which begins today on March 25.

The price is above the middle Bollinger band, below the PMA 5 and SMA 14. The moving’s intersection give a signal to sell. RSI is still above the level of 50%. Stoch are falling steadily.

Trading recommendations:

Sell the pair after it crosses 78.00 with a local target of 75.00.

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

The single currency, the euro, rose during the Asian session to witness its bounce for the second consecutive session from the lowest since April 21, 2017 against the US dollar on the threshold of developments and economic data expected today by the euro area economies and the US economy, the largest economy in the world and with investors' assessment of stimulus in the face of The repercussions of the spread of the Corona Virus globally and the announcement by China to lift the ban on the city of Wuhan to combat Corona by April 8.

At 05:45 am GMT, the euro pair rose against the US dollar by 0.51% to 1.0781 levels compared to the opening levels at 1.0725 after the pair achieved its highest level during the trading session at 1.0823, while achieving the lowest at 1.0726.

The markets are currently awaiting for the French economy, the second largest economy in the euro area, and the German economy, the largest economy in the euro area, in addition to the economies of the region as a whole. To the economies of the region as a whole.

On the other hand, investors are awaiting the disclosure of the initial reading of the Markit manufacturing and services PMI for the United States, which may reflect the contraction of the industrial sector in the largest industrial country in the world to a value of 45.1 compared to a expansion of 50.7 in the previous reading for the month of February, while it may We are witnessing the expansion of the service sector to 44.1 compared to 49.4 in February.

This comes before we also witnessed by the US economy the disclosure of the Richmond Industrial Index reading that may reflect the widening contraction to 10 versus 2 in February, up to the disclosure of housing market data from the release of the New Home Sales Index, which may indicate a decline 1.8% to about 750 thousand homes compared to a rise of 1.8% at about 764 thousand homes in January.

Other than that, we followed yesterday the Federal Reserve announced a new stimulus package to support the economy from the repercussions of the Corona virus, and the Federal Reserve statement stated that it is committed to using a set of tools to support the economy in this difficult period and thus enhance employment and price stability, explaining that the Federal Open Market Committee has gone ahead Go ahead and closely monitor market conditions and evaluate the appropriate pace of securities purchases at future meetings.

The Fed’s statement also stated that the Federal Committee decided, as of Monday, March 23, that the bank would commit to conducting open market operations according to need, in addition to establishing a new loan program to support students, and that a loan program to support small and medium-sized companies would be announced soon, and we would like to point out that These measures by the Federal Reserve are unprecedented, as it does not place any restrictions on the assets that have been announced to be purchased as necessary.

This comes in the wake of the surprising meeting of the Federal Reserve on the 16th of March, which is the second surprising meeting in less than two weeks, after the previous surprising meeting on the third of this month in which the monetary policy makers of the Federal Reserve decided to return at the benchmark interest rates. Short-term to zero levels reached in the wake of the worsening global financial crisis more than a decade ago.

The members of the Federal Open Market Committee reduced the interest on federal funds at the time by 100 basis points to between zero levels and 0.25%, which it remained in since 2008 until the meeting of 27-28 October 2015, after reducing it in the previous emergency meeting by 50 A base point is between 1.00% and 1.25%, and this comes after the committee members cut interest three times by 25 basis points in previous meetings last year.

Technical analysis

The euro against the dollar pair opens today's trading with a bullish tendency to exceed our first target 1.0777 and approach the second at 1.0840, reinforcing the chances of making a further bullish correction on the intraday basis, noting that the breach of the last level will push the price to 1.0966, which represents the Fibonacci level of 38.2% for the decline that It was measured from 1.1498 to 1.0637.

Thus, we expect the bullish bias to continue during the upcoming sessions, taking into consideration that failure to breach 1.0840 will put the price under negative pressure again, heading towards 1.0637 areas initially.

The expected trading range for today is between 1.0700 support and 1.0900 resistance.

Expected trend for today: bullish.

Gold futures rose during the Asian session to witness the highest since March 12, with the US dollar index rebounding for the second session in three sessions from the highest since January 4, 2017, according to the inverse relationship between them on the threshold of developments and economic data expected today Tuesday By the American economy, the largest economy in the world, and with investors evaluating the incentive to face the repercussions of the spread of the global corona virus.

At exactly 04:46 AM GMT, gold price futures for April delivery rose 2.27% to trade at $ 1,601.90 per ounce compared to the opening at $ 1,566.30 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded yesterday's trading At $ 1,572.70 an ounce, with the US dollar index down 0.14% to 101.71 compared to the opening at 102.14.

Investors are awaiting the disclosure of the initial reading of the Markit manufacturing and services PMI for the United States, which may reflect the contraction of the industrial sector in the largest industrial country in the world to a value of 45.1 compared to a expansion of 50.7 in the previous reading for the month of February, while we may witness a widening contraction Service sector to 44.1 compared to 49.4 in February.

This comes before we also witnessed by the US economy the disclosure of the Richmond Industrial Index reading that may reflect the widening contraction to 10 versus 2 in February, up to the disclosure of housing market data from the release of the New Home Sales Index, which may indicate a decline 1.8% to about 750 thousand homes compared to a rise of 1.8% at about 764 thousand homes in January.

Other than that, we followed yesterday the Federal Reserve announced a new stimulus package to support the economy from the repercussions of the Corona virus, and the Federal Reserve statement stated that it is committed to using a set of tools to support the economy in this difficult period and thus enhance employment and price stability, explaining that the Federal Open Market Committee has gone ahead Go ahead and closely monitor market conditions and evaluate the appropriate pace of securities purchases at future meetings.

The Fed’s statement also stated that the Federal Committee decided, as of Monday, March 23, that the bank would commit to conducting open market operations according to need, in addition to establishing a new loan program to support students, and that a loan program to support small and medium-sized companies would be announced soon, and we would like to point out that These measures by the Federal Reserve are unprecedented, as it does not place any restrictions on the assets that have been announced to be purchased as necessary.

This comes in the wake of the surprising meeting of the Federal Reserve on the 16th of March, which is the second surprising meeting in less than two weeks, after the previous surprising meeting on the third of this month in which the monetary policy makers of the Federal Reserve decided to return at the benchmark interest rates. Short-term to zero levels reached in the wake of the worsening global financial crisis more than a decade ago.

The members of the Federal Open Market Committee reduced the interest on federal funds at the time by 100 basis points to between zero levels and 0.25%, which it remained in since 2008 until the meeting of 27-28 October 2015, after reducing it in the previous emergency meeting by 50 A base point is between 1.00% and 1.25%, and this comes after the committee members cut interest three times by 25 basis points in previous meetings last year.

Technical analysis

The gold price opened today's trading with a strong rise to penetrate the level of 1571.20 and is trying to stabilize above it, which puts the price inside the main bullish channel again, indicating the price trend to restore the main bullish path, pending achieving more gains during the upcoming sessions.

Thus, the bullish trend will be expected for today, and targets start at 1599.00 and extend to 1633.60, noting that breaking the 1571.20 and then 1564.50 levels will stop the suggested rise and press the price to drop again.

The expected trading range for today is between 1543.00 support and 1600.00 resistance.

Expected trend for today: bullish.

The US dollar fell during the Asian session to witness its rebound to the second session from its top since February 24 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 by the American economy and in the wake of China's announcement of its intention to raise The ban imposed on Wuhan to combat the spread of Corona virus by next April 8, the city from which the coronavirus started spreading worldwide.

At exactly 06:16 am GMT, the US dollar pair fell against the Japanese yen by 0.71% to 110.44 levels compared to the opening levels at 111.23, after the pair achieved its lowest level during the trading session at 110.09, while achieving the highest at 111.35.

We have followed the disclosure of the initial reading of the manufacturing PMI by Markit on Japan, which showed that the deflation widened to 44.8 compared to 47.8 last February, outperforming the expectations that the deflation contracted to 42.1, and that came before we witnessed a bank statement Japan reported an annual core reading of the CPI that showed growth slowed to 0.2% from 0.3% last January.

On the other hand, investors are awaiting the disclosure of the initial reading of the Markit manufacturing and services PMI for the United States, which may reflect the contraction of the industrial sector in the largest industrial country in the world to a value of 45.1 compared to a expansion of 50.7 in the previous reading for the month of February, while it may We are witnessing the expansion of the service sector to 44.1 compared to 49.4 in February.

This comes before we also witnessed by the US economy the disclosure of the Richmond Industrial Index reading that may reflect the widening contraction to 10 versus 2 in February, up to the disclosure of housing market data from the release of the New Home Sales Index, which may indicate a decline 1.8% to about 750 thousand homes compared to a rise of 1.8% at about 764 thousand homes in January.

Other than that, we followed yesterday the Federal Reserve announced a new stimulus package to support the economy from the repercussions of the Corona virus, and the Federal Reserve statement stated that it is committed to using a set of tools to support the economy in this difficult period and thus enhance employment and price stability, explaining that the Federal Open Market Committee has gone ahead Go ahead and closely monitor market conditions and evaluate the appropriate pace of securities purchases at future meetings.

The Fed’s statement also stated that the Federal Committee decided, as of Monday, March 23, that the bank would commit to conducting open market operations according to need, in addition to establishing a new loan program to support students, and that a loan program to support small and medium-sized companies would be announced soon, and we would like to point out that These measures by the Federal Reserve are unprecedented, as it does not place any restrictions on the assets that have been announced to be purchased as necessary.

This comes in the wake of the surprising meeting of the Federal Reserve on the 16th of March, which is the second surprising meeting in less than two weeks, after the previous surprising meeting on the third of this month in which the monetary policy makers of the Federal Reserve decided to return at the benchmark interest rates. Short-term to zero levels reached in the wake of the worsening global financial crisis more than a decade ago.

The members of the Federal Open Market Committee reduced the interest on federal funds at the time by 100 basis points to between zero levels and 0.25%, which it remained in since 2008 until the meeting of 27-28 October 2015, after reducing it in the previous emergency meeting by 50 A base point is between 1.00% and 1.25%, and this comes after the committee members cut interest three times by 25 basis points in previous meetings last year.

Technical analysis

The dollar pair against the yen conducted a new test for the level of 111.20 yesterday and maintained its stability below it, to start the day with a noticeable decline and approach the 110.00 barrier, which supports the continuation of our expectations for the downside trend during the coming period, which aims to test the 109.06 level initially.

Therefore, the downside scenario will remain active in the intraday and the short term, provided that the price maintains its stability below 111.20.

The expected trading range for today is between 109.00 support and 111.20 resistance.

Expected trend for today: bearish.

USDCAD

The pair is trading below 1.4420 amid the rising crude oil prices and positive news from China, as the country reopens its borders due to the subsiding coronavirus pandemic. Another positive growth factor for the pair is an increase in demand for risk assets and the announcement of unprecedented stimulus measures by the Fed which put pressure on the dollar.

The price is below the middle Bollinger band, below the SMA 5 and SMA 14. RSI is above 50%, but reduced. Stoch are falling.

Trading recommendations:

Sell the pair with a local target of 1.4150.

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

#JNJ

The historical level of 109.33 held back sellers. The same level was at the lower border of the rising price channel. The SP 500 index shows an upward movement today against the backdrop of the Fed's announcement of the QE launch.

Trading recommendations:

Buy at the current price (112.73).

Stop Loss: 109.33.

Target levels: 120.00; 126.12.

The #JNJ rate online: monitor the price movement in real time.

CADJPY 

The overall trend is downward. The currency pair is trading in the range of 365 and 135 moving averages. A start fractal (75.97) has formed below 135 EMA. Breaking through the start fractal will result in the formation of a descending H1 level pattern within the overall downward trend.

Trading recommendations:

Sell below 75.97.

Stop loss: 77.80.

Target levels: 74.90; 73.84.

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

The Australian dollar rose during the Asian session to witness its bounce to the fourth session from the lowest since October 21, 2002 against the US dollar, following the developments and economic data that were reported by the Australian economy and on the cusp of developments and economic data expected today Tuesday by the US economy, the largest economy in the world.

At exactly 03:19 am GMT, the Australian dollar pair rose against the US dollar by 1.73% to 0.5939 levels compared to the opening levels at 0.5838, after the pair achieved its highest level during the trading session at 0.5945, while achieving the lowest at 0.5812.

This has followed the disclosure of the initial reading of the Markit Manufacturing and Services PMI for Australia for the month of March, and the initial reading of the Manufacturing Purchasing Managers Index showed that the expansion decreased to 50.1 compared to 50.2 last February, while the initial reading of the Services PMI showed expansion Shrinkage to 39.8 versus 49.0 in February

On the other hand, investors are awaiting the disclosure of the initial reading of the Markit manufacturing and services PMI for the United States, which may reflect the contraction of the industrial sector in the largest industrial country in the world to a value of 45.1 compared to a expansion of 50.7 in the previous reading for the month of February, while it may We are witnessing the expansion of the service sector to 44.1 compared to 49.4 in February.

This comes before we also witnessed by the US economy the disclosure of the Richmond Industrial Index reading that may reflect the widening contraction to 10 versus 2 in February, up to the disclosure of housing market data from the release of the New Home Sales Index, which may indicate a decline 1.8% to about 750 thousand homes compared to a rise of 1.8% at about 764 thousand homes in January.

Other than that, we followed yesterday the Federal Reserve announced a new stimulus package to support the economy from the repercussions of the Corona virus, and the Federal Reserve statement stated that it is committed to using a set of tools to support the economy in this difficult period and thus enhance employment and price stability, explaining that the Federal Open Market Committee has gone ahead Go ahead and closely monitor market conditions and evaluate the appropriate pace of securities purchases at future meetings.

The Fed’s statement also stated that the Federal Committee decided, as of Monday, March 23, that the bank would commit to conducting open market operations according to need, in addition to establishing a new loan program to support students, and that a loan program to support small and medium-sized companies would be announced soon, and we would like to point out that These measures by the Federal Reserve are unprecedented, as it does not place any restrictions on the assets that have been announced to be purchased as necessary.

This comes in the wake of the surprising meeting of the Federal Reserve on the 16th of March, which is the second surprising meeting in less than two weeks, after the previous surprising meeting on the third of this month in which the monetary policy makers of the Federal Reserve decided to return at the benchmark interest rates. Short-term to zero levels reached in the wake of the worsening global financial crisis more than a decade ago

The members of the Federal Open Market Committee reduced the interest on federal funds at the time by 100 basis points to between zero levels and 0.25%, which it remained in since 2008 until the meeting of 27-28 October 2015, after reducing it in the previous emergency meeting by 50 A base point is between 1.00% and 1.25%, and this comes after the committee members cut interest three times by 25 basis points in previous meetings last year.

Technical analysis

The Australian dollar pair against the US dollar ended yesterday's trading above 0.5786, and opened the day with a strong rise to reach the level of 0.5958, which provides signals on the price trend to make more expected bullish correction in the intraday and short term, especially since the price shows the features of a double bottom model that appears in the picture, Noting that a break of 0.5958 will push trades towards 0.6097 directly.

Therefore, the bullish trend will be expected for today, noting that a break of 0.5786 will stop the positive scenario and press the price to drop again.

The expected trading range for today is between 0.5800 support and 0.6030 resistance.

Expected trend for today: bullish.

The Australian dollar fell during the Asian session to witness the resumption of the marches of decline, which stopped for the first time in ten sessions at the end of last week before resuming at the beginning of this week the march against the US dollar amid fears of the spread of the Corona virus epidemic globally and on the cusp of developments and economic data expected on Monday by The Australian economy is in the midst of tight economic data from the US economy earlier this week.

At exactly 02:50 am GMT, the Australian dollar pair declined against the US dollar by 0.82% to 0.5743 levels compared to the opening levels at 0.5790, after the pair achieved its lowest level during the trading session at 0.5700, while achieving the highest at 0.5825, knowing The pair concluded the trading last week at 0.5785 levels, before it started the trading session on an upward price gap.

Investors may now be looking to reveal the initial reading of the Markit Industrial and Services PMI for Australia for the month of March, while markets later this week by the US economy, the largest economy in the world, are expected to reveal the growth data with the disclosure of the final reading for the fourth quarter Which may reflect the stability of the pace of growth at 2.1% during the past three months at the end of last year.

Technical analysis

The Australian dollar pair versus the US dollar traded significantly lower after achieving our first goal at 0.5958, to break the level of 0.5786 with the opening of trading today, which provides signals on the price trend to resume the main downside trend, on its way to visit the 0.5509 level initially.

Therefore, a bearish bias will be favored for today, noting that a breach of 0.5958 is considered a positive signal for the price to try to return to the bullish corrective path again.

The expected trading range for today is between 0.5600 support and 0.5850 resistance.

Expected trend for today: bearish.

The single currency, the euro, rose during the Asian session to witness its rebound from the lowest since 21 April 2017 against the US dollar on the threshold of the disclosure of the monthly report of the German Central Bank later Monday, amid the scarcity of economic data by the US economy at the beginning of this week and in the shadow of growing Fears of a global outbreak of the Coronavirus virus and investor's assessment of global stimulus to confront Corona affiliates in the global economy.

At exactly 05:35 am GMT, the euro pair rose against the US dollar by 0.50% to 1.0749 levels compared to the opening levels at 1.0695 after the pair achieved its highest level during the trading session at 1.0750, while achieving the lowest in three years at 1.0636, with Knowing that the pair concluded the trading last week at 1.0688 levels, before it started the trading session on an upward price gap.

Technical analysis

The decline in the euro against the last dollar stopped at the level of 1.0637, to end last Friday's trading above the support of the descending channel that appears in the picture, noting that the price starts the day with an upward tendency in a sign to resume the corrective corrective attempts, on its way to test 1.0777 then 1.0840 levels mainly.

Thus, the bullish bias will be likely for today, noting that breaching 1.0685 then 1.0637 levels will stop the positive scenario and press the price to resume the main downside trend again.

The expected trading range for today is between 1.0650 support and 1.0840 resistance.

Expected trend for today: bullish.