Analytic reviews

The Aeroflot share continues to slide after the 113.08 support broke and the stability below it. The bearish movement stopped at the support 110.10, where the EMA50 is near the 50% Fibonacci retracement.

The price action between the 20 MAs from the top and the 50's from below which form strong price support and resistance levels. It should be noted that trading remains above the 50 average condition for the continuation of the bullish path

The stochastic oscillator is heading towards oversold territory on a bearish track, indicating the continuation of the bearish track and the price's start with the downward correction of the upward movement.

The general trend of movement: a descending path on an intraday basis.

The Australian dollar fluctuated in a narrow range tilted toward the decline during the Asian session to witness its stability near its lowest in eleven years against the US dollar, following the developments and economic data that it had reported on the Australian economy and on the cusp of developments and economic data expected today Wednesday by the US economy, which includes members ’talk The Federal Open Market Committee.

At 02:45 am GMT, the Australian dollar pair fell against the US dollar by 0.03% to 0.6602 levels, compared to the opening levels at 0.6604, after the pair achieved its lowest during the trading session at 0.6588, while achieving the highest at 0.6607.

We have followed on from the Australian economy a release on the construction business index, which showed a 3.0% decline compared to a 0.4% increase in the last third quarter, worse than the expectations that indicated a 1.0% decline, on the other hand, investors are now looking for what will come out of a recent member of the Federal Committee For the open market and Dallas Fed Chairman Robert Kaplan at an emerging conference manager in Austin.

Markets are also looking to reveal the data of the US housing market from the release of the New Home Sales Index, which may explain an increase of 2.7% to about 713 thousand homes compared to a decline of 0.4% at about 694 thousand homes last December, to find another member of the Federal Committee, which is Minneapolis Federal Reserve Chairman Neil Kashkari delivered a speech titled "What You May Not Know About the Federal Reserve in Minneapolis" at the Minneapolis Board of Directors business forum.

Technical analysis

The Australian dollar versus the US dollar trades stable below the 0.6600 barrier, and is located under more negative pressure formed by the EMA50, to continue moving inside the descending channel that appears in the picture, waiting for further decline to visit the 0.6560 level which represents our next negative target.

Therefore, the downside scenario will remain effective for the upcoming period unless the price rushes to breach the 0.6670 level and stability above it.

The expected trading range for today is between 0.6550 support and 0.6630 resistance.

Expected trend for today: bearish.

The euro currency fluctuated in a narrow range slanting back down during the Asian session to witness its bounce for the second session from the top since February 12 against the US dollar amid the scarcity of economic data by the economies of the euro area and on the cusp of developments and economic data expected on Wednesday by the American economy The largest economy in the world which includes the talk of members of the Federal Open Market Committee.

At 05:14 am GMT, the euro against the US dollar fell 0.11% to 1.0870 levels, compared to the opening levels at 1.0882, after the pair achieved its lowest level during the trading session at 1.0862, while achieving the highest at 1.0883.

On Tuesday, we followed up, the European Union's chief negotiator told Britain’s exit file, Michel Barnier, that trade negotiations between the European Union and Britain will start next Monday and that the European Union is ready to hold several negotiating sessions with Britain, explaining that these negotiations will be complicated, especially among the many outstanding issues. And adding that the European Union will not end these negotiations under any circumstances.

It is reported that French President Emmanuel Macron expressed at the beginning of this week the chances of reaching a trade agreement with Britain by the end of the year, pointing out that negotiations on fishing areas with Britain may be very complicated, adding that British Prime Minister Boris Johnson is very difficult in negotiations with The European Union is trying to get the advantages of accessing European markets, which increases the uncertainty about reaching a trade agreement.

In another context, French Finance Minister Bruno Lemerre also mentioned Monday that the Corona virus had a negative impact on the tourism sector in his country, explaining that the number of tourists decreased between 30% to 40% as a result of the spread of the coronavirus, with his statement that this decline will be It has a negative impact on the French economy, the second largest economy in the eurozone, especially that France hosts 2.7 million Chinese visitors annually, and that this figure is expected to drop significantly this year.

Looking at Italy, the third largest economy in the eurozone, which is most affected by the Corona virus outside Asia, it announced yesterday more than 200 new cases of the virus, and this came after its cancellation during last weekend of some public events, including the Venice Festival, due to the high number of people infected with the virus The killer, and also at the weekend Austria stopped a train arriving from Italy due to the suspicion that two of his passengers were infected with the virus.

On the other hand, investors are currently looking for what will be revealed by the talk of a member of the Federal Open Market Committee and Chairman of the Dallas Federal Reserve Bank Robert Kaplan at a conference of emerging director in Austin, before we witness the disclosure of the US housing market data from the release of the New Home Sales Index, which may explain An increase of 2.7% to about 713 thousand houses compared to a decline of 0.4% at about 694 thousand homes last December.

Technical analysis

The euro against the dollar presented positive trades yesterday, noting that the rise was stopped at the level of the 23.6% Fibonacci retracement of the last measured decrease from 1.1239 to 1.0778, as the price starts to bounce down from there, on its way to test the support of the bullish intraday channel that appears in the picture, Which we believe constitutes a bearish continuation flag pattern that supports the chances of resuming the main bearish trend again.

The stochastic is providing negative signals on the four hour time frame, waiting for the contribution to pay to break 1.0840 which represents the support of the aforementioned pattern to activate the negative effect of this pattern and then rush towards our negative targets that start at 1.0760 and extend to 1.0680.

Thus, we continue to favor the overall bearish trend, keeping in mind that a breach of 1.0887 will stop the expected decline and lead the price to make a further bullish intraday correction, whose next target is located at 1.0954.

The expected trading range for today is between 1.0780 support and 1.0920 resistance.

Expected trend for today: bearish.

Gold price futures fluctuated in a narrow range that tilted higher to witness the resumption of its daily gains marches that stopped yesterday for the first time in nine sessions and to witness its rebound to the second session from the lowest since February 13, condoning the rise of the US dollar index according to the opposite relationship between them on the cusp of developments The economic data expected on Wednesday by the US economy, which includes the talk of members of the Federal Open Market Committee and the center of market assessments of the spread of the Corona virus outside China with fears of becoming a global pandemic.

At exactly 04:02 AM GMT, gold price futures for April delivery rose 0.29% to trade at $ 1,642.00 per ounce compared to the opening at $ 1,637.30 per ounce, knowing that the contracts started the session’s trading on a falling price gap after yesterday’s trading was concluded At $ 1,650.00 an ounce, while the US dollar index rose 0.04% to 99.12 compared to the opening at 99.08.

Investors are currently looking for what will be revealed by the talk of a member of the Federal Open Market Committee and Chairman of the Federal Reserve Bank of Dallas Robert Kaplan at the conference of the emerging director in Austin, before we witness the disclosure of the data of the US housing market from the release of the New Home Sales Index, which may explain 2.7% rise To about 713 thousand homes compared to a decline of 0.4% at about 694 thousand homes last December.

In another context, we have watched the rise of cases infected with Corona virus in South Korea to about a thousand cases compared to about 51 cases just a week ago, and that comes hours after South Korea earlier this week raised the alert status to confront the coronavirus to "the highest level", and the numbers increased The HIV-infected case in Italy is the most affected by Corona outside Asia, where more than 200 cases have been announced, while Iran has confirmed the death of at least 12 people.

We would like to point out, because the Director-General of the World Health Organization noted at the weekend that the outbreak of the Corona virus could still be contained and that the virus is not out of control, especially with the death toll not significantly increasing, explaining that it is too early to describe its spread as a global epidemic, stressing that It is not appropriate to use this description currently and that focus should be placed on efforts to contain it, despite the possibility of it becoming a serious pandemic.

It is noteworthy that the Director-General of the World Health Organization said last Thursday that the decrease in the number of cases infected with Coronavirus outside China "may not remain the same for a long time", and we followed during the weekend, the report that touched on Italy's cancellation of some public events, including the Venice Festival in addition to closing Turkey temporarily borders with Iran and in South Korea, Samsung Electronics closed its factory there due to the spread of the virus.

Technical analysis

Gold price tried to break the level of 1635.20 but maintains its stability above it until now, which keeps the bullish trend scenario in place for the coming period, supported by the positivity of the stochastic indicator that appears on the four-hour time frame, waiting for the breach of 1655.90 to open the way towards the trend towards 1720.00 which represents our main station next.

SMA 50 continues to support the price from below, taking into consideration that breaking 1635.20 will force the price to make more bearish correction and visit 1601.70 areas before any new attempt to rise.

The expected trading range for today is between 1630.00 support and 1665.00 resistance.

Expected trend for today: Overall bullish.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its rebound to the second session from the lowest since February 19 against the Japanese yen, following the developments and economic data that it had reported on the Japanese economy and on the cusp of developments and economic data expected on Wednesday by the largest US economy Economy in the World, which includes the talk of members of the Federal Open Market Committee and the shadow of market assessments of the spread of the Corona virus outside China, which could make it a global pandemic.

At 05:50 am GMT, the US dollar pair rose against the Japanese yen by 0.17% to 110.39 levels compared to the opening levels at 110.20, after the pair achieved its highest level during the trading session at 110.58, while achieving the lowest at 110.13.

We have followed about the Japanese economy, the Bank of Japan revealed the fundamental annual reading of the consumer price index, which showed the stability of growth at 0.3% during January, outperforming expectations that indicated a slowdown in growth to 0.2%. Otherwise, we followed yesterday, according to the Japanese Minister of Economy Yasutoshi Nishimura that the Japanese government will pay more attention to the economic implications of the Coronavirus, especially to the financial markets.

On the other hand, investors are currently looking for what will be revealed by the talk of a member of the Federal Open Market Committee and Chairman of the Dallas Federal Reserve Bank Robert Kaplan at a conference of emerging director in Austin, before we witness the disclosure of the US housing market data from the release of the New Home Sales Index, which may explain An increase of 2.7% to about 713 thousand houses compared to a decline of 0.4% at about 694 thousand homes last December.

All the way to another Federal Committee member who is President of the Minneapolis Federal Reserve Bank Neil Kashkari giving a speech titled "What You May Not Know About the Federal Reserve in Minneapolis" at the Minneapolis City Council business forum, otherwise, we followed yesterday a senior health official in the United States warning of the possibility Corona virus is spreading in America and coronavirus may become a global pandemic.

In another context, we have watched the rise of cases infected with Corona virus in South Korea to about a thousand cases compared to about 51 cases just a week ago, and that comes hours after South Korea earlier this week raised the alert status to confront the coronavirus to "the highest level", and the numbers increased The HIV-infected case in Italy is the most affected by Corona outside Asia, where more than 200 cases have been announced, while Iran has confirmed the death of at least 12 people.

We would like to point out, because the Director-General of the World Health Organization noted at the weekend that the outbreak of the Corona virus could still be contained and that the virus is not out of control, especially with the death toll not significantly increasing, explaining that it is too early to describe its spread as a global epidemic, stressing that It is not appropriate to use this description currently and that focus should be placed on efforts to contain it, despite the possibility of it becoming a serious pandemic.

It is noteworthy that the Director-General of the World Health Organization, Gebresus, said last Thursday that the decrease in the number of cases infected with the Corona virus outside China "may not remain the same for a long time." To temporarily close its borders with Iran and in South Korea, Samsung Electronics closed its factory there due to the spread of the virus.

Technical analysis

The dollar versus yen pair provided additional negative trading yesterday to attack the 110.27 level, reinforcing the expectations of the continuation of the bearish intraday wave, which aims to visit the bullish channel support that appears in the above chart at 109.24.

Therefore, the negative scenario will remain likely during the upcoming sessions, noting that a breakout of 111.30 will stop the expected decline and push the price to return to the main bullish path again.

The expected trading range for today is between 109.60 support and 111.00 resistance.

Expected trend for today: bearish.

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce for the second consecutive session from the lowest since March 18 of 2009 against the US dollar amid the scarcity of economic data at the beginning of this week 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, which includes the speech of members of the Federal Open Market Committee.

At exactly 02:33 AM GMT, the Australian dollar pair rose against the US dollar by 0.21% to 0.6619 levels, compared to the opening levels at 0.6604, after the pair achieved its highest during the trading session at 0.6621, while achieving the lowest at 0.6600.

Investors are now looking to the US economy to reveal the housing market data with the release of the house price index reading, which may show an acceleration of growth to 0.4% compared to 0.2% last November, and the annual reading of the S&P House Price Index also showed that the growth accelerated to 2.8% vs. 2.6% in the prior annual reading for November.

This comes before we witness the speech of a member of the Federal Committee and Chairman of the Dallas Federal Reserve Bank Robert Kaplan at the Kansas City Real Estate Seminar, and before the release of the consumer confidence index, which may appear widening to 132.6 compared to 131.6 last January, in conjunction with the disclosure of industrial sector data from For the largest industrialized country in the world with the release of the Richmond Industrial Index reading, which may reflect the narrowing of the expansion to 10 compared to 20 in January.

Up to the speech of the Federal Committee member and Deputy Governor of the Federal Reserve, Richard Clarda, regarding the economic and political monetary expectations at the annual conference of the National Association for Business Policy in Washington, and this comes amid the aspiration to reveal, after tomorrow, Thursday, the first reading of the GDP of the United States for the first quarter, which may appear The growth pace of the world's largest economy accelerated to 2.2%, compared to 2.1% in the fourth quarter

Technical analysis

The Australian dollar versus the US dollar did not show any strong movement in the previous sessions, to continue fluctuating around the 0.6600 level, and therefore, there is no change to the scenario of the bearish trend that depends on stability below the 0.6670 level, noting that our next main target is at 0.6560.

The expected trading range for today is between 0.6570 support and 0.6640 resistance.

Expected trend for today: bearish.

The euro currency fluctuated in a narrow range slanting upward during the Asian session to witness its bounce to the fourth session from the lowest since the second half of April 2017 against the US dollar on the threshold of developments and economic data expected today Tuesday by the largest economies of the euro area Germany and the American economy the largest economy In the world, which includes the talk of members of the Federal Open Market Committee.

At 05:18 am GMT, the euro against the US dollar rose 0.06% to 1.0860 levels compared to the opening levels at 1.0854 after the pair achieved its highest level during the trading session at 1.0868, while achieving the lowest at 1.0845.

The markets are looking to Germany to reveal the end reading of the fourth quarter GDP, which may reflect the stability of stability at zero levels, little changed from the previous initial reading and against 0.1% growth in the last third quarter, as the annual final reading of the same indicator shows the stability of growth at 0.4 %, And the seasonally adjusted annual final reading of the index may show stability at 0.3%.

Other than that, we followed at the beginning of the week, French President Emmanuel Macron expressed the weak chances of reaching a trade agreement with Britain by the end of the year, explaining that negotiations on fishing areas with Britain may be very complicated, adding that British Prime Minister Boris Johnson is very difficult in Negotiations with the European Union and trying to get the advantages of access to European markets, which increases the uncertainty about reaching a trade agreement.

In another context, yesterday, French Finance Minister Bruno Lemerre also mentioned that the Corona virus had a negative impact on the tourism sector in his country, explaining that the number of tourists decreased between 30% to 40% as a result of the spread of the coronavirus, with his statement that this decline will be It has a negative impact on the French economy, the second largest economy in the eurozone, especially that France hosts 2.7 million Chinese visitors annually, and that this figure is expected to drop significantly this year.

Looking at Italy, the third largest economy in the euro area, yesterday it announced more than 130 new cases infected with Corona virus, and that came after its cancellation during the past weekend of some public events, including the Venice Festival because of the high number of people infected with the deadly virus, and in the same context, we followed Also during the weekend, Austria stopped a train coming to it from Italy due to the suspicion that two of its passengers were infected with coronavirus.

On the other hand, investors are currently waiting for the US economy to reveal the housing market data with the release of the house price index reading, which may show accelerated growth to 0.4% compared to 0.2% last November, and showed the annual reading of the S&P house price index as well Growth accelerated to 2.8%, compared to 2.6% in the prior annual reading for November.

This comes before we witness the speech of a member of the Federal Committee and Chairman of the Dallas Federal Reserve Bank Robert Kaplan at the Kansas City Real Estate Seminar, and before the release of the consumer confidence index, which may appear widening to 132.6 compared to 131.6 last January, in conjunction with the disclosure of industrial sector data from For the largest industrialized country in the world with the release of the Richmond Industrial Index reading, which may reflect the narrowing of the expansion to 10 compared to 20 in January.

Up to the talk of Fed member and Deputy Governor of the Federal Reserve Richard Clarda about the economic and political monetary expectations at the annual conference of the National Association for Business Policy in Washington, and this comes amid the aspiration to reveal, after tomorrow, Thursday, the initial reading of the United States GDP for the first quarter, which may appear The growth rate of the largest economy in the world accelerated to 2.2% compared to 2.1% in the fourth quarter.

Technical analysis

The euro against the dollar continues to fluctuate around the level of 1.0860 and maintains the stability of the daily closing below it, which keeps the downside scenario active and effective for the coming period, supported by the stochastic loss of positive momentum and reaching the overbought areas, waiting for the price stimulus to resume negative trades to head towards our goals That starts at 1.0760 and extends to 1.0680.

On the other hand, it should be noted that breaching 1.0860 and holding above it will open the door for intraday gains, whose targets begin testing the 1.1050 areas.

The expected trading range for today is between 1.0780 support and 1.0900 resistance.

Expected trend for today: bearish.

Gold price futures fluctuated in a narrow range that tilted back down during the Asian session to witness its bounce for the second session from the top since January 23, 2013, while neglecting the US dollar index rebound to the fourth session from the top since April 21, 2017 according to the inverse relationship The two are on the threshold of the expected economic developments and data on Tuesday by the US economy, which includes the talk of members of the Federal Open Market Committee and a market assessment of the spread of the Corona virus outside China, which could make it a global pandemic.

At exactly 04:18 AM GMT, gold price futures for April delivery fell 0.19% to trade at $ 1,658.60 per ounce compared to the opening at $ 1,661.80 per ounce, knowing that the contracts started the session’s trading on a falling price gap after yesterday's trading was concluded At $ 1,676.60 an ounce, while the US dollar index fell 0.09% to 99.24 compared to the opening at 99.33.

Investors are now looking to the US economy to reveal the housing market data with the release of the House Price Index reading, which may show an acceleration of growth to 0.4% compared to 0.2% last November. The annual reading of the S&P House Price Index also showed that the growth accelerated to 2.8% vs. 2.6% in the prior annual reading for November.

This comes before we witness the speech of a member of the Federal Committee and Chairman of the Dallas Federal Reserve Bank Robert Kaplan at the Kansas City Real Estate Seminar, and before the release of the consumer confidence index, which may appear widening to 132.6 compared to 131.6 last January, in conjunction with the disclosure of industrial sector data from For the largest industrialized country in the world with the release of the Richmond Industrial Index reading, which may reflect the narrowing of the expansion to 10 compared to 20 in January.

Up to the talk of Fed member and Deputy Governor of the Federal Reserve Richard Clarda about the economic and political monetary expectations at the annual conference of the National Association for Business Policy in Washington, and this comes amid the aspiration to reveal, after tomorrow, Thursday, the initial reading of the gross domestic product of the United States for the first quarter, which may appear The growth pace of the world's largest economy accelerated to 2.2%, compared to 2.1% in the fourth quarter.

On the other hand, we followed yesterday the Director-General of the World Health Organization expressed that it is still possible to contain the outbreak of the Corona virus and that the virus is not out of control and especially with the death toll not significantly increased, explaining that it is too early to describe its spread as a global epidemic, stressing that it is It is inappropriate to use this description now and that it should focus on efforts to contain it, despite the possibility of it turning into a serious pandemic.

It is noteworthy that the Director-General of the World Health Organization said last Thursday that the decrease in the number of cases infected with Coronavirus outside China "may not remain the same for a long time", and we followed during the weekend, the report that touched on Italy's cancellation of some public events, including the Venice Festival in addition to closing Turkey temporarily borders with Iran and in South Korea, Samsung Electronics closed its factory there due to the spread of the virus.

We would like to point out that the global stock indices witnessed early losses this week, with the growing fears of spreading the Corona virus globally, especially after South Korea raised the state of alert to confront the virus to "the highest level" after the recent rise in the number of cases there and the high case in Italy and Iran in which it Most of the infected cases are in the Middle East, in addition to the announcement of three Gulf countries that reported the first cases of the virus.

In the same vein, we have just followed the announcement of China about 508 new cases of coronavirus and that there are about 71 additional deaths as of February 24, bringing the total number of cases of the deadly virus in China to 77,658 confirmed cases and deaths about 2,663 This case coincided with a rise in the number of coronavirus patients in Italy, which in turn announced at least 130 new cases.

Technical analysis

Gold price trading rebounded significantly after touching the resistance of the bullish channel that appears in the picture, to make some downward correction to the recent rise that started from 1547.50 areas, where the price settles around 23.6% Fibonacci level at 1655.90, and the price needs to hold above this level to ensure that no further exposure Negative pressure.

The stochastic indicator is getting rid of its negative momentum significantly to support the chances of resuming the main bullish trend, to keep our expectations for the overall bullish trend whose next main target is located at 1720.00, noting that breaking 1655.90 then 1635.20 levels will press the price to achieve further decline and visit 1601.70 areas before any attempt New to rise.

The expected trading range for today is between 1640.00 support and 1680.00 resistance.

Expected trend for today: Overall bullish.

Google shares opened the week with a falling price gap, where yesterday we closed the moving average 50 level, and returned to trading within the bullish channel that it had penetrated.

The stock movement has moved below the 7-20-50 moving averages that move above the price and press it.

The stochastic oscillator has reached the oversold zone on a bearish path, and this is reflected in the downward movement of the price.

Expected trend for today: bearish.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session against the Japanese yen following the developments and economic data that it followed on the Japanese economy and on the cusp of developments and economic data expected today by the American economy, the largest economy in the world, which includes the talk of members of the Federal Committee for the open market in the shadows Market assessment of the spread of Corona virus outside China, which could make it a global pandemic.

At exactly 05:58 AM GMT, the US dollar pair rose against the Japanese yen by 0.08% to 110.81 levels compared to the opening levels at 110.72, after the pair achieved its highest level during the trading session at 111.04, while achieving the lowest at 110.64.

On the Japanese economy, we followed the disclosure of inflation data with the release of the annual services price index, which showed an acceleration in the pace of growth to 2.3%, compared to the previous reading of last December and expectations at 2.1%. Otherwise, we followed up during the weekend The Bank of Japan reiterates that the Bank of Japan will not hesitate to take the necessary measures if necessary.

In the same context, the Governor of the Central Bank of Japan Kuroda also noted during the activities of the G20 meeting hosted by the capital of the Kingdom of Saudi Arabia, Riyadh, because there is no need at the moment to expand the stimulus, with his statement that the Bank of Japan is closely monitoring the developments of the Corona virus and that it did not occur. Changes in the growth outlook There are no fundamental changes in the currency market, adding that he does not expect a significant decline in his country's economy.

On the other hand, investors are currently waiting for the US economy to reveal the housing market data with the release of the house price index reading, which may show accelerated growth to 0.4% compared to 0.2% last November, and showed the annual reading of the S&P house price index as well Growth accelerated to 2.8%, compared to 2.6% in the prior annual reading for November.

This comes before we witness the speech of a member of the Federal Committee and Chairman of the Dallas Federal Reserve Bank Robert Kaplan at the Kansas City Real Estate Seminar, and before the release of the consumer confidence index, which may appear widening to 132.6 compared to 131.6 last January, in conjunction with the disclosure of industrial sector data from For the largest industrialized country in the world with the release of the Richmond Industrial Index reading, which may reflect the narrowing of the expansion to 10 compared to 20 in January.

Up to the talk of Fed member and Deputy Governor of the Federal Reserve Richard Clarda about the economic and political monetary expectations at the annual conference of the National Association for Business Policy in Washington, and this comes amid the aspiration to reveal, after tomorrow, Thursday, the initial reading of the United States GDP for the first quarter, which may appear The growth rate of the largest economy in the world accelerated to 2.2% compared to 2.1% in the fourth quarter.

On the other hand, we followed yesterday the Director-General of the World Health Organization expressed that it is still possible to contain the outbreak of the Corona virus and that the virus is not out of control and especially with the death toll not significantly increased, explaining that it is too early to describe its spread as a global epidemic, stressing that it is It is inappropriate to use this description now and that it should focus on efforts to contain it, despite the possibility of it turning into a serious pandemic.

It is noteworthy that the Director-General of the World Health Organization said last Thursday that the decrease in the number of cases infected with Coronavirus outside China "may not remain the same for a long time", and we followed during the weekend, the report that touched on Italy's cancellation of some public events, including the Venice Festival in addition to closing Turkey temporarily borders with Iran and in South Korea, Samsung Electronics closed its factory there due to the spread of the virus.

In the same vein, we have just followed the announcement of China about 508 new cases of coronavirus and that there are about 71 additional deaths as of February 24, bringing the total number of cases of the deadly virus in China to 77,658 confirmed cases and deaths about 2,663 Case, and that coincided with an increase in the number of people infected with the virus in South Korea, Japan, Italy and Iran which have the most infected cases in the Middle East.

Technical analysis

The dollar versus the yen achieved a strong breakout at the level of 111.30 to start a downward correction of the recent bullish wave. On the other hand, the price is heading to visit the upside channel support that appears in the image as a natural trading according to the trading rules inside the price channels after touching the resistance of the mentioned channel recently.

Thus, a bearish bias will be likely during the upcoming sessions, and breaking the 110.27 level will confirm opening the way towards heading towards 109.24 as the next main target, noting that breaching 111.30 will stop the current negative pressure and lead the price to resume the main bullish direction again.

The expected trading range for today is between 110.00 support and 111.30 resistance.

Expected trend for today: bearish.