Analytic reviews

The US dollar fluctuated in a narrow range tilted to the upside during the Asian session to witness its bounce back to the third session from the lowest since January 8, when it tested the lowest since October 10 against the Japanese yen after the developments and economic data that it followed on the Japanese economy On the cusp of developments and economic data expected today, Tuesday, by the US economy, the largest economy in the world.

At exactly 6:22 am GMT, the US dollar pair rose against the Japanese yen by 0.12% to 108.82 levels compared to the opening levels at 108.69, after achieving its highest level during the trading session at 108.86, while achieving the lowest at 108.55.

On the Japanese economy, we followed the disclosure of the annual reading of the monetary base index by the Bank of Japan, which showed a slowdown in the pace of growth to 3.2% compared to 3.3% last November, contrary to expectations that indicated an acceleration in the pace of growth to 3.6%. It is reported that the bank The Japanese central bank has started using this indicator as its main operating objective for the monetary base scheme since April of 2013.

On the other hand, investors are currently awaiting by the US economy, 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 in the past November, while the annual reading of the same index, excluding transportation, may show a slowdown in the pace of growth To 0.1%, compared to 0.3% in the prior annual reading for November.

Technical analysis

The dollar versus yen pair is re-testing the broken support for the upside channel and maintains its stability below it until now, accompanied by a noticeable lack of positive momentum stochastic, while SMA 50 continues to press negatively on the price.

From here, these factors encourage us to continue to suggest the bearish trend for the upcoming period, whose targets begin with breaking the 108.40 level to open the way for visiting 107.45 as a next station, noting that stability below 109.33 is important for the continuation of the suggested decline.

The expected trading range for today is between 108.00 support and 109.30 resistance.

Expected trend for today: bearish.

Gold price futures fluctuated in a narrow range tilted to the upside 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 US dollar index rebounding 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 will reflect the largest addition of liquidity in the Chinese markets since 2004, it means merely injecting 150 billion yuan ($ 21.7 billion) in net liquidity and that a bank People's China may pump more liquidity later this week by facilitating lending (repo) or medium-term lending to ease concerns 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, Tidros Adhanum, expressed yesterday, in his endeavors to allay fears of the spread of the Corona virus, which WHO announced last Thursday because of an international health emergency, that there is no need that calls for exceptional measures that will affect the global tourism trade situation, with his urging For countries to make decisions based on evidence and data, he informed him that the emergence of the disease has been confirmed in 23 countries outside China with 151 cases of the disease.

In another context, we followed up this week at the beginning of this week, which dealt with 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 that the Chinese economy, the second largest economy in the world and the second largest industrialized country globally, will be affected by Due to 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 economic growth forecasts for the current year.

Technical analysis

The gold price continues to fluctuate around 1575.90 level, and we note that SMA 50 continues to support the price from below, while the stochastic indicator starts providing positive signals now, which supports the chances of resuming positive trades within the bullish channel that appears in the picture.

From here, we will maintain our expectations for the bullish trend for the coming period, awaiting the visit of 1611.20 as the next main target, noting that the continuation of the suggested bullish wave requires stability above 1575.90 and 1570.00 levels.

The expected trading range for today is between 1565.00 support and 1590.00 resistance.

Expected trend for today: bullish.

Google's stock continues the bullish path. As the stock was able to settle above the upper bound of the ascending channel that was trading within it, thus the bullish path of the stock will continue.

The movement continues above the 7-20-50 MAs that move in an ascending order below the price.

The stochastic oscillator has left the overbought zone on a bearish path, and this has been reflected in the price movement with a downward correction towards the support.

Expected trend for today: bullish.

The single currency fluctuated the euro in a narrow range tilted to the upside during the Asian session to witness its bounce back to the third session in five sessions from the lowest since November 29, when it tested the lowest since October 10 against the US dollar on the cusp of developments and economic data Expected today, Tuesday, by the economies of the euro area and the US economy, the largest economy in the world.

At 05:39 am GMT, the euro against the US dollar fell 0.01% to 1.1061 levels compared to the opening levels at 1.1060, after the pair achieved its highest level during the trading session at 1.1064, while achieving the lowest at 1.1054.

The markets are looking forward to the issuance of the treasury budget reading for France, the second largest economy in the euro area, before we witness by Spain, the fourth largest economy in the region, the reading of the unemployment change index, which may reflect a rise of 44.2 thousand compared to a decline of 34.6 thousand in the previous reading of last December. And before the CPI reading for Italy, the region’s third-largest economy, may show a 0.2% contraction versus a 0.2% growth in December.

This comes in conjunction with the disclosure of inflation data for the economies of the region as a whole with the release of the producer price index, which is an initial indication of inflationary pressures, which may show a slowdown in the pace of growth to 0.1% compared to 0.2% last November, while the annual reading of the same indicator may show a contraction Shrinkage to 0.7% versus 1.4% in the prior annual reading for November.

Otherwise, we followed this weekend, the European Union’s chief commissioner, Michel Barnier, expressed that the countries of the European Union wanted Britain to abide by the rules of the European Union, pointing out that the UK’s failure to comply with these rules may lead to unfair competition between the two parties, adding that Britain You will not have the agreement you want, but an agreement will be reached that will benefit the interests of Brussels and London.

Barnier also noted yesterday the importance of the European Union and Britain reaching an agreement on trade matters, adding that the European offer is fair and available for discussion, while touching that the British service sector will not be able to reach European countries, and told him that any trade agreement with Britain must include Consensus about fishing grounds, and it is reported that the chief commissioner of the European Union has expressed his vision in advance of the continued existence of risks towards Britain's exit from the European Union, especially regarding future relations between Brussels and London after the exit that was formally launched last Friday.

On the other hand, investors are currently awaiting by the US economy, 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 in the past November, while the annual reading of the same index, excluding transportation, may show a slowdown in the pace of growth To 0.1%, compared to 0.3% in the prior annual reading for November.

Technical analysis

The EURUSD pair is trading around the 1.1060 level now, and the negative effect of the previously completed head and shoulders pattern is still effective, awaiting further decline during the upcoming sessions, where our first target is at 1.0985.

Stability below 1.1095 is required to continue the suggested descending wave, noting that exceeding the first target will push the price to 1.0880 as the next main station.

The expected trading range for today is between 1.0970 support and 1.1120 resistance.

Expected trend for today: bearish.

The Australian dollar fluctuated in a narrow range tilted towards the decline during the Asian session to witness the lowest since October 2, when it tested the lowest since mid-March 2009 against the US dollar on the threshold of the decisions and directions of the Reserve Bank of Australia and the developments and economic data expected on Tuesday from The American economy is the largest economy in the world.

At exactly 02:37 am GMT, the Australian dollar pair fell against the US dollar by 0.01% to 0.6691 levels compared to the opening levels at 0.6692, after the pair achieved its lowest level in four months at 0.6679, while it achieved its highest during the trading session at 0.6696 .

This is looking to the markets to the decisions and directions of monetary policy makers at the Reserve Bank of Australia with the release of the Australian Central Bank’s interest rates statement, amid expectations that it will stabilize for the third consecutive meeting at 0.75%. Sydney National Press Club, and its testimony on Thursday before his testimony before the Standing Committee on Economics of the House of Representatives in Canberra.

On the other hand, investors are currently awaiting by the US economy, 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 in the past November, while the annual reading of the same index, excluding transportation, may show a slowdown in the pace of growth To 0.1%, compared to 0.3% in the prior annual reading for November.

Technical analysis

The Australian dollar versus the US dollar pair shows some slight bullish slope after recently reaching our awaited target at 0.6670, where the price is affected by the positivity of the stochastic, but we still believe that the overall bearish trend will continue to dominate the price stability below 0.6820, supported by the negative pressure formed by the moving average 50, Remembering that a break of 0.6670 will push the price to 0.6615 as a next negative stop.

The expected trading range for today is between 0.6650 support and 0.6750 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.

Gold is trading in the range of the lower border of the descending price channel. The inclined channel of the downward correction pattern is broken. An uptrend is formed within the overall uptrend. Also, Stochastic Oscillator signals oversoldness.

Trading recommendations:

Buy on the formation of an ascending pattern, above 1580.0.

Stop loss – 1570.0.

Target levels: 1590.0; 1600.0; 1610.0.

If the price drops to the support level of 1570.0, the trading plan must be reorganized.

The pair is in a short-term uptrend amid the falling crude oil prices as a significant decrease in oil demand is expected in China due to the economic slowdown caused by the new coronavirus. If oil prices remain under pressure, this will also have a negative impact on the Canadian currency.

The price is above the middle Bollinger band, at SMA 5 and above SMA 14. RSI turns down in the overbought zone. Stoch are also in this zone.

Trading recommendations:

The pair may correct down to the level of 1.3235 before continuing with a possible increase to 1.3330.

The support level of 251.00 held back sellers. Awesome Oscillator shows a bullish divergence, and Stochastic Oscillator signals oversoldness. Buy while an ascending pattern 123 is forming and an inclined channel of the descending structure is breached.

Trading recommendations:

Buy as an ascending pattern 123 is forming.

Stop loss below the support level of 251.00.

Target levels: 261.58; 270.70.

The Sber Bank share started to decline and corrected the bullish track, as the price managed to breach the first support level at the value 257.13 and head to the next level 249.07

The price remains above 250.00 level is a prerequisite for the continuation of the bullish price movement, while breaching this level will lead the price to decline and test the level of 242.75

The price action has become below the 20-20 Moving Averts that constitute resistance levels while the Moving Average 50 remains below the price and constitutes a positive pressure factor for it.

The stochastic oscillator has started to exit the oversold zone, but it is moving within a sideways path near this area, therefore the price will likely continue to drop to the support level of 250.00.

The general direction of the movement: bullish.