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Today, Sberbank will publish its RAS financial statements for January 2020. If the report is positive, the overall upward movement will continue.

On the chart, the support level of 251.38 is holding back sellers. A descending truncated pattern has formed. Complete it with the formation of an ascending wave pattern, which will break through the inclined channel of the descending one.

Trading recommendations:

Buy while an ascending wave pattern is forming, where the wave (A) breaks through the inclined channel of the descending pattern.

Stop loss under the support level of 251.38.

Target levels: 261.58; 270.70.

The overall trend is downward. Breaking through the price pivot zone 112.63 will result in the formation of a descending pattern of the H1 level within the descending wave (C) of the descending pattern of the H4 level pattern.

Trading recommendations:

Sell below 112.63.

Stop loss above the price pivot zone of 113.20.

Target levels: 118.82 (above the round secondary level + trap for the pros); 111.11 (level 123.6% of A H4 and support level).

The Australian dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce for the third consecutive session from the lowest since October 2, when it tested the lowest since 18 March 2009 against the US dollar after the developments and economic data The Australian economy is on the cusp of developments and economic data expected Thursday by the US economy, the largest economy in the world.

At exactly 02:44 am GMT, the Australian dollar pair rose against the US dollar by 0.06% to 0.6752 levels compared to the opening levels at 0.6746, after the pair achieved its highest level during the trading session at 0.6763, while the pair achieved its lowest at 0.6745.

We have followed on the Australian economy to reveal the reading of the Trade Balance Index, which indicated that the surplus has shrunk to A $ 5.22 billion, compared to A $ 5.52 billion last November, contrary to expectations for a surplus of A $ 5.65 billion, in conjunction with the release of a reading The retail sales index, which showed a 0.5% decline compared to a 1.0% rise in November, was worse than the expectations that indicated a 0.2% decline, and that came before we saw a reading of the business confidence index showed the decline in its value at 1 during the last fourth quarter.

On the other hand, investors are currently awaiting by the US economy the disclosure of the initial reading of the single labor cost index, which reflects the slowdown in growth to 1.3% compared to 2.5% in the third quarter, while the initial reading of the productivity of the sectors other than agriculture may show a rise of 1.6% against a decline of 0.2% In the third quarter, in conjunction with the release of the weekly reading of the claims claim index, which may show a decrease of 1 thousand applications to 215 thousand applications.

Technical analysis

The Australian dollar versus the US dollar fluctuated around the level of 0.6754 and closed the daily candle below it, so that the bearish trend scenario remains effective for the coming period, supported by the moving average 50 that presses negatively on the price, besides that the stochastic indicator is losing its positive momentum significantly, waiting for the resumption of the decline that targets areas Initial 0.6670.

We remind you that breaching 0.6754 will push the price to visit the 0.6820 level before any new negative attempt.

The expected trading range for today is between 0.6700 support and 0.6780 resistance.

Expected trend for today: bearish.

Cisco shares returned to rise after the failure to hold below 46.89 support. The sideways stock path continues between 46.89 support and 49.05 resistance.

The stock is now moving above the moving averages that are moving below the price and forming support levels for it.

The stochastic oscillator is on an upward path towards the overbought zone thus influencing the price and pushing it up and testing the resistance level 49.05.

The general direction of movement: sideways.

Gold price futures fluctuated in a narrow range tilted toward decline during the Asian session to witness its bounce back for the third session in four sessions from its highest since January 8, when it tested the highest for it since March 22, 2013 amid the rise in the US dollar index for the fourth session Respectively, according to the inverse relationship between them on the threshold of the expected economic developments and data today, Thursday, by the US economy, the largest economy in the world, and in the shadow of market assessments of efforts to contain and combat the Corona virus.

At exactly 04:16 AM GMT, gold price futures for April delivery decreased 0.15% to trade at $ 1,557.60 per ounce compared to the opening at $ 1,560.00 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded yesterday's trading At $ 1,562.80 an ounce, with the US dollar index rising 0.01% to 98.30 compared to the opening at 98.29.

Investors are currently awaiting by the American economy the disclosure of the initial reading of the single labor cost index, which reflects the slowdown in growth to 1.3% compared to 2.5% in the third quarter, while the initial reading of the productivity of the sectors other than agricultural may indicate a rise of 1.6% compared to a decline of 0.2% in the third quarter And, in conjunction with the release of the weekly reading of the benefit claims index, which may show a decrease of 1 thousand requests to 215 thousand applications.

Other than that, yesterday we followed the unconfirmed report that a team at Zhejiang University in China found a drug to treat the Coronavirus that started in Wuhan and killed only 73 people yesterday, which is the highest daily rate of increase in deaths from the virus, bringing the total death toll 563 people according to the Chinese Health Authority, while 3,694 new cases of the deadly virus have been reported, bringing the total number of people infected globally to 28,018 cases.

We would like to point out that the WHO spokesman noted yesterday, Wednesday, that there is currently no effective treatment for cases of coronavirus infection. In another context, we also followed yesterday. The Chinese President expressed that the containment of the Corona virus is going through a very critical stage and that all measures must be implemented Correctly fight and prevent coronavirus, while stating that his country will work to combat rumors related to the spread of the virus.

It is noteworthy that the Director of the IMF expressed last Tuesday that the Fund supports the efforts of China, the largest consumer of metals globally and the second largest economy in the world, in an attempt to contain the Corona virus, explaining that the Fund does not support medical efforts only, but also supports all economic and financial efforts adopted by the Chinese government, which Aim to address the economic damage caused by the deadly coronavirus.

This came hours after the People's Bank of China (the Central Bank of China) announced last Sunday its intention to inject 1.2 trillion yuan ($ 173 billion) of liquidity into the market through repurchases in the open market (repo), and the Chinese Central Bank stated at the time that The total liquidity in the system will be 900 billion yuan ($ 130 billion) more than in the same period last year 2019.

We would like to point out, because some financial market analysts have commented on this matter, that although this matter will reflect the largest addition of liquidity in Chinese markets since 2004, it only means pumping net liquidity 150 billion yuan ($ 21.7 billion) and that a bank Popular China may pump more liquidity later this week by facilitating repo lending or medium-term lending to ease anxiety in financial markets.

It is noteworthy that the Goldman Sachs Financial Corporation expressed last Tuesday that the impact of the Corona virus on global growth will be limited during this year due to the measures taken by the Chinese government and the governments of other countries as part of efforts to contain and limit the spread of the deadly virus, and the institution stated that it expects growth to decrease The world is between 0.1% and 0.2% only, and the Chinese economy may see a slowdown in growth by 0.4% this year.

In another context, we followed this week’s report that touched on the fact that Beijing will ask Washington to be flexible regarding its agreed commitments in the first phase of the trade agreement, given the expectations of the impact of the Chinese economy, the second largest economy in the world after the United States, due to the spread of the virus Al-Taji, In the same vein, we also followed up on Monday the report that touched on the fact that the Chinese government intends to reduce its economic growth forecasts for the current year.

Technical analysis

Gold price hovers around 1554.10 level, and starts today with a slight bearish tendency to press this support, but since the price maintains the stability of the daily closing above this level, our expectations for the bullish trend will remain valid for the next period, pending a visit to 1575.90 initially.

It should be noted that confirming the break of 1554.10 will stop the positive scenario and press the price to achieve a new low, targeting the next correction level at 1536.50 directly.

The expected trading range for today is between 1540.00 support and 1570.00 resistance.

Expected trend for today: bullish.

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce to the fifth session from the lowest since January 8, when it tested the lowest since October 10 against the Japanese yen amid the scarcity of economic data by the Japanese economy and on The expected economic developments and data on Thursday by the US economy and in the shadow of market assessments of efforts to contain and combat the Corona virus.

At 05:54 am GMT, the US dollar pair rose against the Japanese yen by 0.12% to 109.96 levels compared to the opening levels at 109.82, after the pair achieved its highest level since January 22, while the pair achieved the lowest during trading The session is at 109.74.

Investors are currently looking to the US economy to disclose the initial reading of the single labor cost index, which reflects the slowdown in growth to 1.3% compared to 2.5% in the third quarter, while the initial reading of the productivity of sectors other than agriculture may show a rise of 1.6% against a decline of 0.2% in the third quarter, This coincides with the issuance of the weekly reading of the benefit claims index, which may show a decrease of 1 thousand applications to 215 thousand applications.

Other than that, yesterday we followed the unconfirmed report that a team at Zhejiang University in China found a drug to treat the Coronavirus that started in Wuhan and killed only 73 people yesterday, which is the highest daily rate of increase in deaths from the virus, bringing the total death toll 563 people according to the Chinese Health Authority, while 3,694 new cases of the deadly virus have been reported, bringing the total number of people infected globally to 28,018 cases.

We would like to point out that the WHO spokesman noted yesterday, Wednesday, that there is currently no effective treatment for cases of coronavirus infection. In another context, we also followed yesterday. The Chinese President expressed that the containment of the Corona virus is going through a very critical stage and that all measures must be implemented Correctly fight and prevent coronavirus, while stating that his country will work to combat rumors related to the spread of the virus.

It is noteworthy that the Director of the International Monetary Fund expressed last Tuesday that the fund supports the efforts of China, the second largest economy in the world and the second largest industrialized country globally, in an attempt to contain the Corona virus, explaining that the fund does not support only medical efforts, but also supports all economic and financial efforts adopted by the government Chinese, which aims to address the economic damage caused by the deadly coronavirus.

This comes in conjunction with the market assessment of the stimulus adopted by the People's Bank of China (the Central Bank of China) last Sunday, and in the wake of the report that recently touched on the fact that Beijing will ask Washington to be flexible with regard to its pledges agreed in the first stage of the trade agreement, given the expectations of the impact of the economy Chinese as a result of the spread of the coronavirus, in addition to the report that touched on the fact that the Chinese government intends to reduce its expectations for economic growth.

Technical analysis

The dollar versus the yen significantly resumed its positive trading to move away from the 109.33 level, which supports the continuation of our expectations for the upward trend during the upcoming sessions, which aims to test the 110.50 level initially, noting that exceeding this level will push the price to 111.50 as the next positive station.

Therefore, the bullish trend scenario will remain intact over the intraday basis, provided stability above 109.33.

The expected trading range for today is between 109.30 support and 110.70 resistance.

Expected trend for today: bullish.

The euro fluctuated in a narrow range slanting toward decline, to witness the lowest level since January 29 against the dollar, on the threshold of economic developments and data expected today, Thursday, by the economies of the euro area and the US economy, which includes the certificate of the European Central Bank Governor Christine Lagarde regarding the economy and monetary policy before a committee Economic and Monetary Affairs of the European Parliament in Brussels and speech of a member of the Federal Open Market Committee and President of the Dallas Federal Reserve Bank Robert Kaplan at the 2020 Business Outlook Conference in Dallas.

At 05:27 am GMT, the euro against the US dollar fell 0.02% to 1.0997 levels compared to the opening levels at 1.0999, after the pair achieved its lowest level in a week at 1.0994, while it achieved its highest during the trading session at 1.1001.

Markets are looking by Germany, the euro zone's largest economy, to release the factory demand reading, which may show a 0.6% increase versus a 1.3% decline last November, while an annual seasonally adjusted reading may reflect a widening decline to 6.6% versus 6.5%, before To witness the European Central Bank’s disclosure of the European Central Bank’s monthly report, leading to the disclosure of the European Commission’s quarterly forecast.

It is noteworthy that the European Central Bank Governor Christine Lagarde yesterday expressed that the uncertainty still exists as a result of global risks, pointing out that the risks include trade and geopolitical tensions in addition to the spread of the Corona virus, while addressing the fact that zero interest rates contribute to supporting the recovery of the growth of the German economy from The current recession has indicated that interest rates will become higher in the future due to the existing easing policy.

On the other hand, investors are currently awaiting by the US economy the disclosure of the initial reading of the single labor cost index, which reflects the slowdown in growth to 1.3% compared to 2.5% in the third quarter, while the initial reading of the productivity of the sectors other than agriculture may show a rise of 1.6% against a decline of 0.2% In the third quarter, in conjunction with the release of the weekly reading of the claims claim index, which may show a decrease of 1 thousand applications to 215 thousand applications.

Technical analysis

The euro against the dollar pair shows more bearish tendency to reach our first awaited target at 1.0985, and it falls under the negative pressure formed by the EMA50, to support the chances of the continuation of the expected bearish trend for the next period, where the negative impact of the head and shoulders pattern remains effective, waiting for the extension of the descending wave About 1.0880.

It should be noted that the expected continuation of the decline requires stability below 1.1100.

The expected trading range for today is between 1.0920 support and 1.1050 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 support level of 224.70 held back sellers. Breaking 235.64 will result in the formation of an upward pattern 123. Awesome Oscillator indicator shows a bullish divergence, and the Stochastic Oscillator signals oversoldness.

Trading recommendations:

Buy above 235.64.

Stop loss – 224.70.

Target levels: 244.80; 256.56; 261.70.

The overall trend is downward. A false breakout of the previous maximum has formed. A head-and-shoulders reversal pattern is probably forming. Breaking the neck line will result in the formation of a descending wave pattern within the overall downward trend. A bearish divergence has been formed on Awesome Oscillator.

Trading recommendations:

Sell below 142.21.

Stop loss – 143.37.

The goal is 141.06.