Analytic reviews

The Australian dollar versus the US dollar succeeded in achieving our awaited target at 0.6560 after the negative trading resumed yesterday, and a further decline appears within the descending channel that appears in the picture, which supports the chances of the continuation of the descending wave in the short term, pending the visit of the 0.6500 level as a next station.

Therefore, we will continue to favor the bearish trend during the upcoming sessions, noting that stability below 0.6670 is an important condition for the expected continuation of the decline.

The expected trading range for today is between 0.6500 support and 0.6590 resistance.

Expected trend for today: bearish.

Cisco shares fell significantly and exceeded the first support level at point 43.88, to settle below it, and the next level reached the value at 43.03.

The stock is now moving below the moving averages that are moving above the price and forming resistance levels and pressuring it to decline.

The stochastic oscillator is in a bearish path within the oversold zone, thus increasing the negative impact on the price and pushing it down and trying to breach the support 42.03

The general direction of the movement: Down.

The single currency, the euro, rose during the Asian session to witness its resumption from its lowest since the second half of April 2017 for the fourth session in six sessions against the US dollar on the cusp of developments and economic data expected today Thursday by the economies of the euro area and the US economy, which includes the dumping of a member of the Federal Committee Open Market and President of the Cleveland Bank of the Federal Reserve Loretta Mester the opening speech at the symposium "Women in the Economy" in Cleveland.

At exactly 05:34 AM GMT, the pair rose the euro against the US dollar by 0.26% to 1.0909 levels compared to the opening levels at 1.0881 after the pair achieved its highest level since February 12 at 1.0915, while achieving the lowest during the trading session At 1.0878.

Investors may be looking by Spain, the fourth largest economy in the eurozone, to disclose inflation data with the release of the annual reading of the consumer price index, which may reflect a slowdown in the pace of growth to 0.8% compared to 1.1% in the previous annual reading last December, and that comes before it We are witnessing the economies of the euro area as a whole, the release of the annual reading of the index of private loans, which may explain the stability of growth at 3.7% during January.

This comes in conjunction with the disclosure of the annual reading of the M3 money supply also for the economies of the euro area, which may explain the acceleration of growth to 5.3% compared to 5.0% in the previous annual reading for the month of December. Otherwise, we followed yesterday the chief European Union negotiator expressed to the file Britain's exit from the European Union Michel Barnier from the fact that the trade negotiations between the European Union and Britain may be complicated due to the limited time available to reach a trade agreement.

In another context, we also followed yesterday, the European Central Bank Governor Christine Lagarde expressed the importance of the level of confidence in the euro area and that the European Central will communicate with citizens of the European Union during its strategic review, while welcoming German plans to reduce public debt, explaining that the European Central welcomes any Measures taken by Germany to support the largest economies of the eurozone in the current period.

This came in the wake of the report that touched on the fact that the German government plans to suspend the decision to curb debt and allow local governments to obtain the necessary funds for a temporary period in efforts to support the German economy. In another context, European Commissioner Paolo Gentiloni noted yesterday that it is too early to assess the implications of the Corona virus On the economies of the euro area, with his statement that European financial rules include allowing spending in emergency situations.

On the other hand, investors are currently awaiting by the US economy the disclosure of the second reading of GDP, which may reflect the widening of the largest economy in the world 2.1% during the fourth quarter, little changed from the previous first reading, as the second reading of GDP measured by prices may show stability Growth at 1.4% was also little changed from what it was in the previous preliminary reading of the previous quarter.

This comes in conjunction with the disclosure of the reading of the durable goods orders index, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product in the United States, which may reflect a 1.5% decline compared to a rise of 2.4% in December, while a substantial reading may appear The same index rose 0.2%, compared to a decline of 0.1% in December.

This is also in conjunction with the issuance of the index of subsidy requests for the past week on February 15th, which may reflect an increase by one thousand requests to 211 thousand requests compared to 210 thousand requests in the previous weekly reading, up to the disclosure of housing market data with the release of home sales reading The list, which may show a rise of 2.8% compared to a decline of 4.9% in December.

Otherwise, yesterday we followed US President Donald Trump's attempt to allay investor fears of the spread of the Corona virus at a press conference, in conjunction with the US Centers for Disease Control and Prevention reported that she had identified a patient with the virus who had not traveled to China and was not exposed to another known case of HIV infection, It is reported that the chief health official in the United States warned Tuesday of the possibility of spreading the virus in his country and that the virus could become a global epidemic.

Technical analysis

Despite the daily closing that was achieved below 1.0887, the euro against the dollar pair starts today with a new bullish tendency to breach this level and settle above it, which provides signs of the continuous price attempts to make further bullish correction, supported by the positivity of stochastic.

Now, we prefer stopping on the neutral until the price confirms its position regarding the above mentioned level, noting that stability above it will lead the price to achieve additional positive goals that start at 1.0954 and may extend to 1.1008, while trading below 1.0887 again will reactivate the main downside scenario that exists Its next targets are at 1.0760 then 1.0680.

The expected trading range for today is between 1.0830 support and 1.0985 resistance.

Expected trend for today: neutral.

Gold price futures fluctuated in a narrow range tilted to the upside during the American session amid the US dollar index rebounding for the fourth session in six sessions from the top since April 21, 2017 according to the inverse relationship between them on the cusp of developments and economic data expected today Thursday by the American economy This includes the talk of a member of the Federal Open Market Committee and the market’s assessment of the spread of the Corona virus outside of China.

At exactly 04:09 AM GMT, gold price futures for April delivery rose 0.57% to trade at $ 1,652.40 an ounce compared to the opening at $ 1,643.00 per ounce, with the US dollar index falling 0.05% to 98.97 compared to the opening at 99.02.

Investors are currently awaiting by the US economy the disclosure of the second reading of GDP, which may reflect the widening of the largest economy in the world 2.1% during the fourth quarter, little changed from the previous initial reading, as the second reading of GDP measured by prices may show stability of growth at Also 1.4%, little change from what it was in the previous preliminary reading of the previous quarter.

This comes in conjunction with the disclosure of the reading of the durable goods orders index, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product in the United States, which may reflect a 1.5% decline compared to a rise of 2.4% in December, while a substantial reading may appear The same index rose 0.2%, compared to a decline of 0.1% in December.

This is also in conjunction with the issuance of the index of subsidy requests for the past week on February 15th, which may reflect an increase by one thousand requests to 211 thousand requests compared to 210 thousand requests in the previous weekly reading, up to the disclosure of housing market data with the release of home sales reading The list, which may show a rise of 2.8% compared to a decline of 4.9% in December.

This comes before we witness the member of the Federal Open Market Committee and President of the Federal Reserve Bank of Cleveland Loretta Mester the opening speech at the symposium "Women in the Economy" in Cleveland otherwise, we followed yesterday US President Donald Trump's attempt to allay investor concerns about the spread of the Corona virus and this came in conjunction With the announcement of health authorities in the United States to monitor the first case of HIV, he did not know how to be infected.

Technical analysis

Gold price starts trading today positively after consolidation above the level of 1635.20, to approach the test of 1655.90, and gets positive support from the EMA50 and stochastic to enhance the chances of breaching the last level and then open the way for heading towards our next target which reaches 1720.00.

Thus, the bullish trend scenario will remain valid and active for the upcoming period, noting the importance of holding above 1635.20 to achieve the expected targets.

The expected trading range for today is between 1635.00 support and 1670.00 resistance.

Expected trend for today: Overall bullish.

The US dollar fell during the Asian session to witness its bounce back to the fourth session in six sessions from the top since April 25, 2019 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 by the American economy, which includes the dumping of a member At the Federal Open Market Committee and Federal Reserve Chair of the Cleveland Bank Loretta Mester the opening speech at the "Women in the Economy" seminar in Cleveland and amid market assessments of the spread of the Corona virus outside China that could make it a global pandemic.

At exactly 06:09 AM GMT, the US dollar pair fell against the Japanese yen by 0.35% to 110.04 levels compared to the opening levels at 110.43, after the pair achieved its lowest level during the trading session at 109.97, while achieving the highest at 110.46.

Yesterday, we followed up on the request of Japanese Prime Minister Shinzo Abe to postpone any sports or cultural gatherings for a period of two weeks with the aim of contributing to containing the spread of the Corona virus. He mentioned that the government is monitoring market movements and is ready to intervene, adding that it is not possible to comment on recent market movements.

Also, Japanese Prime Minister Abe noted yesterday that his government continues to communicate with the International Olympic Committee to follow up on preparations for the Chinese Olympic Games in Tokyo 2020, and this came in conjunction with the report, which touched on the fact that a member of the International Olympic Committee stated that it is possible to cancel the Tokyo Olympics due to concerns Of the outbreak of the Corona virus, adding that if the seriousness of the Olympics is confirmed, the organizers will most likely go to their cancellation.

On the other hand, investors are currently awaiting by the US economy the disclosure of the second reading of GDP, which may reflect the widening of the largest economy in the world 2.1% during the fourth quarter, little changed from the previous first reading, as the second reading of GDP measured by prices may show stability Growth at 1.4% was also little changed from what it was in the previous preliminary reading of the previous quarter.

This comes in conjunction with the disclosure of the reading of the durable goods orders index, which represents about half of consumer spending, which represents more than two-thirds of the gross domestic product in the United States, which may reflect a 1.5% decline compared to a rise of 2.4% in December, while a substantial reading may appear The same index rose 0.2%, compared to a decline of 0.1% in December.

This is also in conjunction with the issuance of the index of subsidy requests for the past week on February 15th, which may reflect an increase by one thousand requests to 211 thousand requests compared to 210 thousand requests in the previous weekly reading, up to the disclosure of housing market data with the release of home sales reading The list, which may show a rise of 2.8% compared to a decline of 4.9% in December.

Otherwise, yesterday we followed US President Donald Trump's attempt to allay investor fears of the spread of the Corona virus at a press conference, in conjunction with the US Centers for Disease Control and Prevention reported that she had identified a patient with the virus who had not traveled to China and was not exposed to another known case of HIV infection, It is reported that the chief health official in the United States warned Tuesday of the possibility of spreading the virus in his country and that the virus could become a global epidemic.

Technical analysis

The dollar versus yen pair shows new negative trading with the opening of the day to press at 110.27 level and move below it, which supports the chances of the continuation of the expected bearish direction over the intraday basis, which mainly targets 109.24.

The stochastic is providing a negative cross signal that supports achieving a further decline during the upcoming sessions, taking into consideration that the continuation of the bearish trend requires stability below 111.30.

The expected trading range for today is between 109.40 support and 110.75 resistance.

Expected trend for today: bearish.

A pin bar has formed on the H1 timeframe with a false breakout of the local minimum. Awesome Oscillator has formed a bullish divergence, and Stochastic Oscillator signals oversoldness.

Trading recommendations:

Buy Above 198.50.

Stop Loss: 195.30.

Target levels: 203.30; 209.30; 218.10.

If the local minimum is updated, cancel the trading plan.

The pair is trading below the strong resistance level of 1.3345. The main supporting factor is the mood of panic around the new coronavirus which is already expected to have a strong negative impact on the global economic growth, and therefore on the demand for crude oil whose dynamic noticeably affects the Canadian currency. The pair will continue to grow provided the market sentiment remains the same.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is under the overbought zone and indicates a weakening of the price growth. Stoch intersect in the overbought zone.

Trading recommendations:

If the pair breaks the 1.3345 level, it will result in a further growth to 1.3400.

The overall trend is downward. The currency pair is trading in the range of the round important level of 1.0900. A bearish divergence has formed on Awesome Oscillator, and Stochastic Oscillator indicator overboughtness.

Trading recommendations:

Sell while a 1-2-3 descending pattern is forming (at the close of the hourly candle below the round secondary level of 1.0880).

Stop Loss: 1.0925.

Target levels: 1.0850 (round intermediate level – close the market and move to breakeven); 1.0782 (before the round secondary level 1.0780).

The pair is trading just above 110.35. The price may be supported by a drop in panic in the global market mood.

The price is below the middle line Bollinger band, above SMA 5, but below SMA 14. RSI is below the 50% and is growing weakly. Stoch are growing steadily.

Trading recommendations:

If the pair stays above 110.35, it will continue to grow to 112.20.

The resistance level of 1.7300 held back buyers. Probably the upward movement is a wave (B) of the descending pattern of the H12 level. Moving averages of the Stochastic Oscillator are testing the overbought zone.

Trading recommendations:

Sell strictly at the end of the ascending pattern of the H2 level by breaking through the inclined channel. Entry point is at the formation of a descending pattern.

Stop loss for the resistance level of 1.7300.

Target levels: 1.7128; 1.7035.