Analytic reviews

The overall trend in global markets is downward. The first factor is the coronavirus, the second is the inability or unwillingness to negotiate a reduction in oil production, which led to a strong decline in oil prices. At the same time, all markets are falling regardless of the businesses’ influence on the oil prices. The main source of income of Gazprom is the sale of gas, while now the company's stock is trading at the level of May 2019.

Trading recommendations:

Buy above 185.83.

Stop loss:  165.00.

Target levels: 200.00; 211.42; 221.50.

When buying an option against the trend, confirmation of other technical analysis tools is mandatory - the presence of divergence, candlestick reversal patterns. Buying against the trend strictly at 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 tools of technical and fundamental analysis.

The general trend is downward, as evidenced by 365 and 135 moving averages in the range of which the pair is trading. The ascending H1 level pattern is truncated. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator signals overboughtness. A break of support 111.44 will result in the formation of a downtrend as part of a general downtrend.

Trading recommendations:

Sell ​​strictly below 111.44.

Stop loss: 112.57.

Target levels: 110.14; 109.57.

If the price rises to the resistance level of 112.57, cancel the trading plan.

The US dollar fell during the Asian session to witness its resumption from above for it since April 25, 2019 for the tenth session in fifteen sessions against the Japanese yen amid the scarcity of economic data by the Japanese economy and on the cusp of developments and economic data expected today Wednesday by the American economy the largest economy In the world that includes the testimony of the US Treasury Secretary for the Fiscal Year 2021 budget.

At 6:11 am GMT, the US dollar pair fell against the Japanese yen by 1.25% to 104.32 levels compared to the opening levels at 105.64, after the pair achieved its lowest level during the trading session at 104.10, while it achieved the highest at 105.66.

This was followed by yesterday, Japanese Prime Minister Shinzo Abe stated that his government plans to spend $ 4.1 billion as a stimulus package to support the third largest economy in the world to counter the negative effects of the Corona virus outbreak, which allowed the field to reduce the panic that afflicts the global financial markets, especially after the oil price war. The latter, which contributed to the dollar pair yesterday against more than three percent yesterday, showing its best daily performance since April 4, 2013.

On the other hand, investors are currently looking for the US economy to disclose inflation data with the release of the consumer price index, which may reflect stability at zero levels against 0.1% growth in January, while the fundamental reading of the same indicator may show stability at 0.2% during In February, the annual reading of the same index may reflect slowing growth to 2.2% versus 2.5%, and the substantial annual reading of the index may show stability at 2.3%.

This comes before we witness the testimony of the US Treasury Secretary on the budget proposed by the administration of the Republican President Donald Trump for the fiscal year 2021 before the Subcommittee on Foreign Operations and Related Programs in Washington, leading to the disclosure of the US Treasury Department about the reading of the federal budget, which may reflect the breadth The deficit amounted to $ 238.1 billion, compared to $ 32.6 billion in January.

It is reported that US President Trump expressed earlier this week that his administration will discuss a possible salary tax cut with the Congress and that there will be "major" economic announcements, and the White House stated that the proposals aim to reduce taxes on workers ’salaries to zero until the end of the year and the possibility of providing material support to those affected by Corona virus, which has killed more than 4 thousand people around the world, according to the latest figures issued by the World Health Organization.

Technical analysis

The dollar versus yen pair made a breach of the 104.63 level yesterday, but today it starts negatively to move below this level, which encourages us to keep our expectations for the downside, which mainly targets the areas of 100.25, with the need to pay attention to the fact that the price cohesion above the 104.63 level will lead the pair to continue the rise and trend Towards 105.40 then 106.70 as initial positive targets.

The expected trading range for today is between 103.30 support and 105.30 resistance.

Expected trend for today: bearish.

Gold futures rose during the Asian session amid the US dollar index rebounding to the eleventh session in fifteen sessions from the top since April 21, 2017, according to the inverse relationship between them on the threshold of developments and economic data expected today Wednesday by the US economy, the largest economy in the world And in light of the investors' evaluation of the incentive aimed at facing the repercussions of the Corona virus on the global economy.

At exactly 04:31 AM GMT, gold price futures for April delivery rose 0.65% to trade at $ 1,660.00 per ounce compared to the opening at $ 1,649.30 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded yesterday's trading At $ 1,660.30 an ounce, with the US dollar index down 0.20% to 96.13 compared to the opening at 96.33.

Investors are looking for the US economy to disclose inflation data with the release of the consumer price index, which may reflect stability at zero levels against 0.1% growth in January, while the fundamental reading of the same indicator may show stability at 0.2% during February. The annual reading of the same index may reflect the slowdown in growth to 2.2% versus 2.5%, and the substantial annual reading of the index may show stability at 2.3%.

This comes before we witness the testimony of the US Treasury Secretary on the budget proposed by the administration of the Republican President Donald Trump for the fiscal year 2021 before the Subcommittee on Foreign Operations and Related Programs in Washington, leading to the disclosure of the US Treasury Department about the reading of the federal budget, which may reflect the breadth The deficit amounted to $ 238.1 billion, compared to $ 32.6 billion in January.

It is reported that US President Trump expressed earlier this week that his administration will discuss a possible salary tax cut with the Congress and that there will be "major" economic announcements, and the White House stated that the proposals aim to reduce taxes on workers ’salaries to zero until the end of the year and the possibility of providing material support to those affected by Corona virus, which has killed more than 4 thousand people around the world, according to the latest figures issued by the World Health Organization.

In another context, we have just followed up with the Australian government announcing a health package worth A $ 2.4 billion ($ 1.56 billion) and stating that it will provide "unprecedented support through primary care, care for the elderly in addition to hospitals, research and the national medical inventory", and this came before To witness the Reserve Bank of Australia’s assertion that any quantitative easing measures it will adopt will focus on “yield targets rather than setting the level of bond purchases.”

In the same vein, we followed yesterday, Japanese Prime Minister Shinzo Abe stated that his government plans to spend $ 4.1 billion as a stimulus package to support the third largest economy in the world to counter the negative effects of the outbreak of the Corona virus, and we would like to point out that this is the second incentive package that Japan will adopt to guide the killer virus within A series of global stimulus coincides with the increase in the number of cases infected with the virus to more than 114 thousand cases around the world.

It is noteworthy that the Director-General of the World Health Organization expressed the past two days that the danger of the Corona virus turning into a global epidemic has become a reality, with his statement that despite this it is still possible to contain the spread of this dangerous virus, explaining that it is strategic that must focus on containing and stopping the spread of the virus And adding that he is optimistic about the strong measures taken by Italy and hopes for positive results of these measures.

Technical analysis

The price of gold begins today's trading with an upward slope after building on the EMA50, noting that the stochastic indicator provides a positive crossover now, which stimulates the price to provide more positive trading today, pending the achievement of our goals that start at 1689.33 and extend to 1735.50 after crossing the previous level .

Consequently, the bullish trend scenario will remain effective for the coming period, organized within the bullish channels that appear in the picture, noting that the continuation of the expected rise requires the stability above 1633.60.

The expected trading range for today is between 1650.00 support and 1690.00 resistance.

Expected trend for today: bullish.

The single currency rose during the Asian session to witness its rebound to the eleventh session in fifteen sessions from the lowest since mid-April 2017 against the US dollar amid the scarcity of economic data by the eurozone economies and on the cusp of developments and economic data expected today, Wednesday, the US economy, which includes a certificate The US Treasury Secretary on Fiscal Year 2021.

At 05:48 am GMT, the euro pair rose against the US dollar by 0.58% to 1.1346 levels compared to the opening levels at 1.1281, after the pair achieved its highest level during the trading session at 1.1350, while achieving the lowest at 1.1279.

Investors are looking for the US economy to disclose inflation data with the release of the consumer price index, which may reflect stability at zero levels against 0.1% growth in January, while the fundamental reading of the same indicator may show stability at 0.2% during February. The annual reading of the same index may reflect the slowdown in growth to 2.2% versus 2.5%, and the substantial annual reading of the index may show stability at 2.3%.

This comes before we witness the testimony of the US Treasury Secretary on the budget proposed by the administration of the Republican President Donald Trump for the fiscal year 2021 before the Subcommittee on Foreign Operations and Related Programs in Washington, leading to the disclosure of the US Treasury Department about the reading of the federal budget, which may reflect the breadth The deficit amounted to $ 238.1 billion, compared to $ 32.6 billion in January.

It is reported that US President Trump expressed earlier this week that his administration will discuss a possible salary tax cut with the Congress and that there will be "major" economic announcements, and the White House stated that the proposals aim to reduce taxes on workers ’salaries to zero until the end of the year and the possibility of providing material support to those affected by Corona virus, which has killed more than 4 thousand people around the world, according to the latest figures issued by the World Health Organization.

Technical analysis

The euro against the dollar closed yesterday's trading below the 1.1325 level, confirming the start of a bearish correction for the last bullish wave that started from the 1.0778 areas, on its way to visit the 38.2% Fibonacci level of 1.1221.

Therefore, a bearish bias will be favored for today, supported by the current stochastic negativity, bearing in mind that price consolidation above 1.1325 will stop the negative scenario and lead the price to restore the main bullish path, whose first target is at 1.1457.

The expected trading range for today is between 1.1230 support and 1.1400 resistance.

Expected trend for today: bearish temporarily.

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness the resumption of its rebound from the lowest since the tenth of March 2009 against the US dollar, following the developments and economic data that it reported on the Australian economy, which included the speech of the Deputy Governor of the Reserve Bank of Australia, Jay Debley, in Sydney. The expected economic developments and data on Wednesday by the US economy, the largest economy in the world.

At exactly 03:08 AM GMT, the Australian dollar pair rose against the US dollar by 0.05% to 0.6508 levels compared to the opening levels at 0.6505, after the pair achieved its highest level during the trading session at 0.6514, while achieving the lowest at 0.6480.

We have followed the Australian government announced a health package worth A $ 2.4 billion ($ 1.56 billion) and stated that it will provide "unprecedented support through primary care, care for the elderly in addition to hospitals, research and the national medical inventory", according to the latest figures issued by the World Health Organization The number of cases infected with the Coronavirus has increased to nearly 114,000, and more than 4,000 people have died from the virus worldwide.

This came before we witnessed the speech of Deputy Governor of the Reserve Bank of Australia, Jay Deabelle, at the Australian Financial Review Business Summit in Sydney, in which he stressed that any quantitative easing measures that the Australian Central Bank will adopt will focus on “interest objectives rather than determining the level of bond purchases”, and before disclosing The Weissback consumer confidence index showed a decline of 3.8% to 91.9 compared to a rise of 2.3% at 95.5 last January.

On the other hand, investors are looking for the US economy to disclose inflation data with the release of the consumer price index, which may reflect stability at zero levels against 0.1% growth in January, while the fundamental reading of the same indicator may show stability at 0.2% during February In February, the annual reading of the same index may reflect slowing growth to 2.2% versus 2.5%, and the substantial annual reading of the index may show stability at 2.3%.

This comes before we witness the testimony of the US Treasury Secretary on the budget proposed by the administration of the Republican President Donald Trump for the fiscal year 2021 before the Subcommittee on Foreign Operations and Related Programs in Washington, leading to the disclosure of the US Treasury Department about the reading of the federal budget, which may reflect the breadth The deficit amounted to $ 238.1 billion, compared to $ 32.6 billion in January.

Technical analysis

Yesterday the Australian dollar versus the US dollar traded with a strong negative yesterday, approaching our expected target at 0.6430, reinforcing expectations for the bearish trend to continue in the intraday and short term, noting that breaking this level will extend the descending wave to reach 0.6230.

On the other hand, it should be noted that a break of 0.6570 will push the price to test the pivotal resistance 0.6670 again before any new attempt to decline.

The expected trading range for today is between 0.6430 support and 0.6570 resistance.

Expected trend for today: bearish.

When buying an option against a 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 stock is falling amid a sharp drop in oil prices. At the same time, do not forget about the company’s "money box" in USD. The more expensive the dollar, the more expensive the "money box". Since the beginning of the year, the ruble has weakened from 62.07 to 74.84. The balance sheet of Surgutneftegas has $52 billion. It is not difficult to calculate how much Surgutneftegaz earned on with the fall of the ruble.

Now the share price is approaching an important support level of 30 rubles per share, which is likely to deter the bears.

Trading recommendations:

Buy from the 30.00 support level.

Stop loss: 24.00.

Target levels: 36.00; 41.00.

The pair is correcting downward after the US Department of Energy decides to sell oil from the Strategic Petroleum Reserve, while further rate cuts are expected from the Fed, as well as the new economic stimulus measures by the ECB. Amid the increasing demand for risk assets, the pair will continue to decline locally.

The price is above the middle Bollinger band, below SMA 5 and at the level of SMA 14. RSI is above the level of 50% and is decreasing. Stoch fall sharply.

Trading recommendations:

The pair can be sold as long as it keeps below 1.1370 with a local target of 1.1095.