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The gold price maintains its stability below the level of 1509.00, and gets a negative signal through the stochastic indicator, while the moving average constitutes 50 negative pressure against the price, to support the chances of the continuation of the expected bearish trend scenario for the next period, which begins its goals by testing the level of 1453.10, noting that breaking this The level will extend the descending wave to reach 1400.00 as next target.

Consequently, we will maintain our bearish forecasts over the intraday and short term, taking note that a breach of 1509.00 might push the price for intraday gains that start at 1543.35 and may extend to 1571.20 before any new attempt to decline.

The expected trading range for today is between 1400.00 support and 1520.00 resistance.

Expected trend for today: bearish.

EURUSD 

The pair consolidates in the range of 1.0655–1.0775 amid the massive economic stimulus measures by the ECB and the Fed, which do not allow it to take a definitive direction.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is below the 50% level and is turning down. Stoch are growing.

Trading recommendations:

If the price does not go above 1.0775, it may turn around towards 1.0550.

EURUSD online: monitor the movement of the pair in real time.

The US dollar fell during the Asian session to witness its rebound for the second session from its top since February 24 against the Japanese yen amid the scarcity of economic data today by the Japanese economy and its American counterpart and in light of the growing fears of an outbreak of the Corona virus and a global assessment of investors to stimulate global to meet Follow Corona on the global economy.

At 05:50 am GMT, the US dollar pair fell against the Japanese yen by 0.88% to 109.88 levels compared to the opening levels at 110.85, after the pair achieved its lowest level during the trading session at 109.80, while achieving the highest at 111.25, knowing The pair concluded the trading last week at 110.93 levels, before it started the trading session on a falling price gap.

Technical analysis

The dollar rally against the recent bullish yen stopped at the resistance of the descending channel that appears in the picture, to keep the price holding its cohesion below it, which pushes the trading down again to make a bearish correction that begins its targets at 109.06 and extends to 107.55 after breaking the previous level.

From here, the bearish trend will be likely during the upcoming sessions, supported by the negative signal that appears through the stochastic indicator, noting that breaching 111.20 and holding above it will stop the bearish corrective scenario and lead the price to achieve more gains in the short and medium term.

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

Expected trend for today: bearish.

MTS PJSC 

The overall trend is downward. A shooting star reversal pattern has formed with a false breakout. The moving averages of Stochastic Oscillator are in the range of level 80 (overbought zone). The gap remains open.

Trading recommendations:

Sell at a breakout of 273.62.

Stop loss: 283.25.

Target levels: 66.60 (close the price gap - ½ + breakeven); 255.00.

MTS rate online: monitor the movement of MTS shares online.

GBPCHF 

The overall trend is downward. The ascending (blue) pattern ended with the breakout of an inclined channel. Stochastic Oscillator moving averages showed an exit from the overbought zone and are directed downward.  A breakout of 1.1388 will result in the formation of a descending pattern within the overall downtrend.

Trading recommendations:

Sell below 1.1388.

Stop loss: 1.1650.

Target levels: 1.2650 (closing the order and transfer it to breakeven); 1.122.

GBPCHF online: monitor the movement of the pair in real time.

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

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

The Fed has introduced a number of measures to support the US economy, including QE. At the same time, the stock market is still at very low levels.

Intel stock stopped falling. The support level of 43.00 is still not breached. Bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals oversoldness.

Trading recommendations:

Buy above the resistance level of 48.80.

Stop Loss: 43.00.

Target levels: 53.36; 59.00.

Gold futures rose during the Asian session to witness their rebound from the lowest since 16 March, when I tested the lowest since 26 November 2019 amid the decline in the US dollar index, indicating its rebound from the highest since January 4, 2017 According to the inverse relationship between them on the cusp of developments and economic data expected today by the American economy and with investors' assessment of the global stimulus to face the consequences of the spread of the Corona virus epidemic in the world.

At exactly 04:25 am GMT, gold futures contracts for April delivery rose 0.91% to trade at $ 1,485.00 per ounce compared to the opening at $ 1,471.60 per ounce, knowing that the contracts started the session’s trading on a falling price gap after yesterday's trading was concluded At $ 1,479.30 an ounce, with the US dollar index down 0.83% to 102.08 compared to the opening at 102.93.

Investors are currently awaiting the release of the housing market data by the US economy with the release of the Existing Home Sales Index, which may show a 0.9% increase to 5.50 million homes compared to a 1.3% decline at 5.46 million homes in January. Otherwise, we followed yesterday the President’s announcement American Donald Trump yesterday that the Food and Drug Agency is testing a drug for malaria in the treatment of corona virus, adding that the initial results are promising.

This comes hours after the Federal Reserve announced that it will enter the commercial paper markets, which have been frozen in the midst of the economic turmoil, threatening businesses that need financing between today and the other, and the Federal Open Market Committee stated on Tuesday that it will establish a financing facilitation committee for commercial papers to support the cash flow of homes and businesses and that it has formed A special purpose vehicle for purchasing any securities of unsecured assets with $ 10 billion in support from the Treasury.

This came in the wake of the surprising meeting held by the Federal Reserve last Sunday, which is the second surprising meeting in less than two weeks after the previous surprising meeting in the third of this month in which the Federal Reserve monetary policy makers decided to return the short-term benchmark interest rates to levels. The zero 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 by 100 basis points to between zero levels and 0.25%, which they remained from 2008 until the meeting of 27-28 October 2015, after reducing them in the previous emergency meeting by 50 points. The basis is between 1.00% and 1.25%, and this comes in the wake of the committee members cutting interest three times by 25 basis points in previous meetings last year.

Technical analysis

Gold price succeeded in achieving our awaited target at 1453.10, and bounced up to achieve some intraday gains, affected by the positivity of stochastic, and may test new level of 1509.00 before returning to decline again.

SMA 50 continues to press negatively on the price, to continue to suggest the overall bearish trend for the next period, whose objectives extend to 1400.00 then 1307.13 after crossing the previous level, noting that a breakout of 1509.00 will push the price to achieve more intraday gains that reach 1543.35 then 1571.20 before any New attempt to drop.

The expected trading range for today is between 1400.00 support and 1520.00 resistance.

Expected trend for today: bearish.

The US dollar fell during the Asian session to witness its rebound from above since February 24 against the Japanese yen amid the scarcity of economic data by the Japanese economy due to the holiday of Spring Equinox Day in Japan and on the cusp of developments and economic data expected on Friday by the American economy 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 05:30 AM GMT, the US dollar pair fell against the Japanese yen by 0.61% to 110.03 levels compared to the opening levels at 110.71, after the pair achieved its lowest level during the trading session at 109.78, while achieving the highest in three weeks at 111.36 .

Investors are awaiting the release of the housing market data by the US economy with the release of the Existing Home Sales Index, which may show a 0.9% increase to 5.50 million homes compared to a 1.3% decline at 5.46 million homes in January. Otherwise we followed yesterday the US President’s announcement Donald Trump yesterday that the Food and Drug Agency is testing a drug treated for malaria in the treatment of corona virus, adding that the initial results are promising.

This comes hours after the Federal Reserve announced that it will enter the commercial paper markets, which have been frozen in the midst of the economic turmoil, threatening businesses that need financing between today and the other, and the Federal Open Market Committee stated on Tuesday that it will establish a financing facilitation committee for commercial papers to support the cash flow of homes and businesses and that it has formed A special purpose vehicle for purchasing any securities of unsecured assets with $ 10 billion in support from the Treasury.

This came in the wake of the surprising meeting held by the Federal Reserve last Sunday, which is the second surprising meeting in less than two weeks after the previous surprising meeting in the third of this month in which the Federal Reserve monetary policy makers decided to return the short-term benchmark interest rates to levels. The zero 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 by 100 basis points to between zero levels and 0.25%, which they remained from 2008 until the meeting of 27-28 October 2015, after reducing them in the previous emergency meeting by 50 points. The basis is between 1.00% and 1.25%, and this comes in the wake of the committee members cutting interest three times by 25 basis points in previous meetings last year.

Technical analysis

The dollar against the yen continued its bullish rally to be able to touch our extended target at 111.25, noting that the price started to retreat downward from there, and according to the trading rules inside the price channels, the price is on its way to start a descending wave on the intraday and short term, targeting 107.46 then 105.05 initially .

Therefore, the downside direction will be expected for the coming period, taking into consideration that a break of 111.25 will stop the expected decline and lead the price to achieve more gains in the medium term.

The expected trading range for today is between 108.95 support and 111.00 resistance.

Expected trend for today: bearish.