Analytic reviews

The pair is trading above 1.0990 amid the positive US employment data released by ADP on Wednesday. The pair may correct upward, but is likely to continue dropping due to the probably strong new jobs data to b realeased by the Department of Labor on Friday.

The price is below the middle Bollinger band, at SMA 5 and below SMA 14. RSI lies at the border of the oversold zone. Stoch are turning up in this area.

Trading recommendations:

Sell the pair as it’s growing or after goes below 1.0990 with a likely target of 1.0945.

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 29.00 holds back sellers. Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator signals oversoldness. Breaking through the resistance level of 29.57 will result in the formation of an ascending wave pattern.

Trading recommendations:

Buy above 29.57.

Stop loss below the level of 29.00.

Target levels: 30.07; 30.75; 32.00.

The pair remains in a short-term uptrend caused by the falling demand for crude oil as the consumption rates are expected to drop due to the new coronavirus in China. If the current market sentiment remains, the pair will be pushed upwards.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone again. Stoch show the same dynamic.

Trading recommendations:

The pair may continue to rise to 1.3345 after rising above 1.3300.

The support level of 1.1033 holds back sellers. A descending truncated pattern of the H1 level has formed, which is probably a correction of the ascending pattern of the H4 level. Stochastic Oscillator indicator signals oversoldness.

Trading recommendations:

Buy while an ascending pattern is forming, where the wave (aC) breaks through the inclined channel of the descending truncated pattern of the H1 level. Buy as the top (aC) is breached.

Stop дoss under the support level 1.1033.

Target levels: 1.1080 (closing of the current order and transfer to breakeven); 1.1120.

The fluctuation of the US dollar in a narrow range slanted toward decline during the Asian session, to witness its bounce to the tenth session in fourteen sessions from its highest since May 23 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 from Before the American economy, the largest economy in the world.

At 6:12 am GMT, the US dollar pair rose against the Japanese yen by 0.06% to 109.45 levels compared to the opening levels at 109.52, which is the highest level for the husband during the trading session, while the pair achieved the lowest at 109.37.

Investors are currently looking for the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect a slowdown in the pace of job creation to 157 thousand added jobs compared to 202 thousand added jobs in December, hours before the disclosure On the monthly report of jobs except agricultural and unemployment rates in addition to the hourly rate for the month of January after tomorrow, Friday.

This comes before we witness the release of the Trade Balance Index reading, which may reflect the widening of the deficit to $ 48.2 billion compared to $ 43.1 billion in November, before we witness the release of the final reading of the Service Supply Institute index by Markit for the United States, the world's largest economy Which may reflect the stability of the expansion at 53.2, unchanged from the initial reading for the past month and compared to 52.8 in December.

To reveal the reading of the Institute for Service Supply index, which may appear widening to 55.1 compared to 55.0 in December, and we would like to point out, because the service provision is important because the service sector in the United States represents more than two thirds of GDP, and that comes before it We see the talk of Federal Open Market Committee member and Federal Reserve Governor Elle Brenard about innovation of payment at Stanford University.

Other than that, we followed yesterday yesterday, the Director of the International Monetary Fund, Kristina Georgieva, expressed that the fund supports the efforts of China in trying to contain the Corona virus that started in Wuhan, China, explaining that the fund does not only support medical efforts, but also supports all economic and financial efforts adopted by the Chinese government Which aims to address the economic damage caused by the coronavirus.

This came in conjunction with the market assessment of the stimulus adopted by the People's Bank of China (the Central Bank of China) last Sunday in conjunction with the end of the Lunar New Year holiday in China, which was extended amid fears of the spread of the Corona virus, which has claimed more than 500 lives in China so far, This is in addition to the fact that there are more than twenty thousand cases infected with the virus worldwide.

Technical analysis

The dollar pair rose against the yen strongly yesterday, breaking through the level of 109.33 and settling above it, which stops the negative scenario suggested in our recent reports and leads the price to resume trading within the bullish channel that appears in the picture, paving the way towards heading towards 110.50 as a next positive target.

Therefore, a bullish bias will be favored for today unless the 109.33 level is broken and stability below it again.

The expected trading range for today is between 109.00 support and 110.50 resistance.

Expected trend for today: bullish.

Gold price futures oscillated in a narrow range tilted back down during the Asian session to witness its bounce for the second consecutive session from its highest since January 8, when it tested its highest since March 22, 2013 amid the rise in the US dollar index for the third session of The lowest since 17 of this month, according to the inverse relationship between them, on the cusp of developments and economic data expected today by the American economy and in the shadow of market assessments of efforts to contain and combat the Corona virus.

At exactly 04:09 AM GMT, gold price futures for April delivery decreased 0.13% to trade at $ 1,581.50 per ounce compared to the opening at $ 1,579.50 per ounce, knowing that the contracts started the trading session on a falling price gap after it concluded yesterday's trading At $ 1,582.40 an ounce, with the US dollar index rising 0.01% to 97.83 compared to the opening at 97.82.

Investors are currently awaiting by the American economy, the largest economy in the world and the largest industrialized country in the world, the release of the factory orders index, which may reflect a 0.7% rise compared to a 0.7% decline last November, while the annual reading of the same index, excluding transportation, may show a slowdown in the pace Growth to 0.1% versus 0.3% in the prior annual reading for November.

Other than that, we followed last Sunday the People's Bank of China (the Chinese Central Bank) announced 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.

This comes after the end of the Lunar New Year holiday in China at the beginning of this week, which was extended by three to ten days amid fears of the spread of the Corona virus, which started in the Chinese city of Wuhan, which has claimed more than 425 lives in China so far, in addition to Because there are more than twenty thousand cases infected with the virus in the world.

It is noteworthy that the Director-General of the World Health Organization yesterday expressed in his efforts to allay fears of the spread of the Corona virus, which the organization announced last Thursday because of an international health emergency, that there is no need to call for exceptional measures that affect the global tourism trade situation, with his urge to take countries Its decisions are based on evidence and data, and it was reported to him that the outbreak had been confirmed in 23 countries outside China with 151 cases.

In another context, we followed this weekend, which touched upon the fact that Beijing will ask Washington to be flexible regarding its agreed commitments in the first stage of the trade agreement, given the expectations that the Chinese economy, the second largest economy in the world and the second largest industrialized country globally, will be affected by Because of the spread of the coronavirus, in the same vein, we also followed yesterday the report that touched on the fact that the Chinese government intends to reduce its forecast for economic growth for this year.

Technical analysis

The price of gold ended yesterday's trading at 1554.10, and the day begins with an upward trend in a sign of the trend of the price to compensate for the losses of the previous sessions, supported by the positive signal provided by the stochastic indicator, so that the upside trend is likely for this day, pending testing the 1575.90 level initially.

We point out that breaching the target level will push the price to head towards 1611.20 as the next positive stop, noting that breaking 1554.10 will press the price to visit the next correction level which is located at 1536.50 directly.

The expected trading range for today is between 1550.00 support and 1580.00 resistance.

Expected trend for today: bullish.

The single currency fluctuated the euro in a narrow range slanting back down during the Asian session to witness its bounce to the fifteenth session in twenty-six sessions from its highest since the seventh of August against the US dollar on the threshold of developments and economic data expected today Wednesday by the economies of the euro area and the American economy, which These include European Central Bank Governor Christine Lagarde’s talk in Paris and Federal Open Market Committee member and Deputy Governor of the Federal Reserve Lyle Brenard about the innovation of payment at Stanford University.

At exactly 05:37 AM GMT, the euro against the US dollar fell 0.07% to 1.1036 levels compared to the opening levels at 1.1044, after the pair achieved its lowest level during the trading session at 1.1034, while achieving the highest at 1.1046.

The markets are looking to Spain, the euro zone's fourth largest economy, to disclose the services PMI reading, which may show a shrinkage in value to 54.0 compared to 54.9 last December, before we see the same indicator reading for Italy, the third largest economy in the region. It could also reflect a shrinkage in breadth to 50.3 versus 51.1 in December.

Investors are also looking for France, the second largest economy in the eurozone, to disclose the final reading of the services PMI, which may show the stability of expansion at 51.7 unchanged from the initial reading for the past month and against 52.4 in the previous reading for the month of December, before the final reading of the index Same for Germany, which may also explain the stability of the expansion at 54.2, compared to 52.9 in December.

To reveal the final reading of the services PMI for the euro area as a whole, which may show the stability of the expansion at 52.2 unchanged from the initial reading of the previous month of January, and against 50.0 in December, as we may also witness about the economies of the euro area as a whole issued a reading of the index Retail sales for the Eurozone as a whole may explain a 0.5% decline versus a 1.0% rise last November.

On the other hand, investors are looking for the US economy to disclose preliminary data for the labor market with the release of the index of change in private sector jobs, which may reflect a slowdown in the pace of job creation to 157 thousand added jobs compared to 202 thousand added jobs in December, hours ago From the disclosure of the monthly report of jobs except agricultural and unemployment rates in addition to the hourly rate for the month of January after tomorrow, Friday.

This comes before we witness the release of the Trade Balance Index reading, which may reflect the widening of the deficit to $ 48.2 billion compared to $ 43.1 billion in November, before we witness the release of the final reading of the Service Supply Institute index by Marquette from the United States, which may reflect stability The breadth was at 53.2, unchanged from the prior reading of the previous month and from 52.8 in December.

To reveal the reading of the Institute of Service Supply index, which may show a widening of 55.1 compared to 55.0 in December, and we would like to point out, because the service provision lies in its importance in the fact that the service sector in the United States represents more than two thirds of the gross domestic product, which makes it One of the important economic data that gives an initial view of the pace of economic growth for the largest economy in the world.

Technical analysis

The euro against the dollar pair shows quiet negative trading to gradually move away from the EMA50, to keep the bearish trend valid and effective for the coming period, which targets 1.0985 then 1.0880 as the next main stations, with a reminder that the effect of the head and shoulders pattern is still effective and supports the expectations of the decline, which will remain in place Unless 1.1095 level is breached and stability above it.

The expected trading range for today is between 1.0950 support and 1.1100 resistance.

Expected trend for today: bearish.

The Australian dollar versus the US dollar continues to rise quietly, approaching a sub-resistance test that formed at the previously broken 0.6754 level, while the moving average constitutes 50 continuous negative pressure against the price, waiting for the resumption of the downtrend that targets exceeding 0.6670 to open the way towards heading towards 0.6615, with a reminder That the continuation of the descending wave requires stability below 0.6820.

The expected trading range for today is between 0.6660 support and 0.6760 resistance.

Expected trend for today: bearish.

Aeroflot shares returned to rise after testing the support level with the opening of trading this week. The bearish movement stopped at the support 107.36, where the moving average 50 is.

Price action above the 20-50 MAs which form strong support levels for the price.

The stochastic oscillator has exited the oversold zone on an upward path thus adding to pressure on the price to rise and testing the resistance 112.83.

The general trend of the movement: bullish.