Analytic reviews

Google's stock continues the bullish path. As the stock was able to breach 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 is still moving within the overbought zone within a sideways path, indicating the continuation of the bullish path.

Expected trend for today: bullish.

The US dollar fell during the Asian session to witness its bounce for the second session in three sessions from its highest since May 23 against the Japanese yen after the developments and economic data that we announced today Monday about the Japanese economy amid the scarcity of economic data at the beginning of this week by the American economy and with the growing Anxiety over a new strain of pneumonia in China has led to risk aversion on the market.

At exactly 05:57 am GMT, the US dollar pair fell against the Japanese yen by 0.21% to 109.95 levels compared to the opening levels at 110.18, after achieving the lowest level during the trading session at 109.90, while achieving the highest at 110.22.

We have followed the monetary policy makers ’decision with the Japanese Central Bank to keep negative interest rates at 0.10%, which came in line with expectations, with the disclosure of the Bank of Japan’s monetary policy statement, which reflected the Japanese central bank’s provision of more flexibility in monetary policy and raised its expectations for growth For the first time in a year, attention is now drawn to the events of the press conference that Bank of Japan Governor Haruhiko Kuroda will hold in Tokyo.

It is noteworthy that the Governor of the Central Bank of Japan Kuroda Noh last Wednesday during the Japanese Businessmen Union meeting in Tokyo / because the Bank of Japan will continue to expand its monetary base until the inflation rate in his country exceeds the rate of two percent, while expressing that the Japanese economy is expanding moderately and its approach to being an indicator Consumer price is about 0.5%,

In another context, we would like to point out that the Japanese government last month raised its growth forecasts for the next fiscal year 2020/2021, which begins with the beginning of next April, to 1.4% compared to its previous forecasts last July with a growth of 1.2%, while maintaining its expectations for growth during the year The current fiscal, which expires at the end of next March at 0.9%, comes in the wake of the Japanese government's recent approval of a $ 122 billion financial package.

Otherwise, the spread of a pneumonia-like virus in China led to a sudden bout of risk aversion in the markets and prompted investors to transfer liquidity to safe havens, including the Japanese yen, especially after a Chinese health expert stated that the virus could be transmitted from person to person, after emphasizing Four cases have died from the disease, which has sparked concern that it is spreading on the eve of the Lunar New Year holiday in China.

Technical analysis

The dollar versus yen pair offers slight negative trades with the opening of the day to test SMA 50, but since the price is above 109.33, our bullish expectations will remain effective for the coming period, with a reminder that our awaited targets start at 110.50 and extend to 111.50 after breaching the previous level.

The expected trading range for today is between 109.50 support and 110.80 resistance.

Expected trend for today: bullish.

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 overall trend is downward. The pivot zone of 1.6820 held back buyers. A bearish divergence has formed on the Awesome Oscillator, and the Stochastic Oscillator moving indicators are in the overbought zone. Breaking through the support level of 1.6745 will result in the formation of a downward pattern of the H4 level within the overall downward trend.

Trading recommendations:

Sell Below 1.6745.

Stop Loss for the resistance level of 1.6820.

The resistance level of 61.00 holds back buyers. In the range of the expected wave (B), flat (accumulation) has formed. A bearish divergence was formed on Awesome Oscillator TF D1, and Stochastic Oscillator indicator showed an exit from the overbought zone.

Trading recommendations:

Sell below 58.60.

Stop loss – 61.00.

Target levels: 59.64; 55.60; 53.31.

Gold is still in demand due to the weaker dollar and global geopolitical and economic problems. If things remain the same, the prices will be likely to grow.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is located above the overbought zone and moves horizontally. Stoch are not informative.

Trading recommendations:

The price may slightly correct to 1561.70. If this level holds, expect the  price grow further to 1577.60.

Gold price futures fluctuated in a narrow range tilted to the upside to witness their bounce back for the third session in five sessions from the lowest since January 3 amid the dollar index rebound to the second session from the top since December 26 according to the inverse relationship between them amid scarcity Economic data this weekend by the US economy due to the holiday celebration of Martin Luther King’s Day in the United States today, Monday, in the wake of the People's Bank of China (the Chinese Central Bank) keeping the interest rate on loans for five years unchanged.

At exactly 04:19 AM GMT, gold price futures for February delivery rose 0.12% to trade at $ 1,559.10 per ounce compared to the opening at $ 1,557.30 per ounce, knowing that the contracts started the session’s trading on a falling price gap after it concluded the week’s trading The past is at $ 1,560.30 an ounce, with the US dollar index falling 0.03% to 97.61 compared to the opening at 97.64.

This was followed up last weekend by economic data that showed the largest economies in Asia and the second largest economy in the world 6.1% during 2019, despite the trade dispute between Beijing and Washington, which recently witnessed its breakthrough with the signing of US President Donald Trump and the Chinese Vice-Premier and President Chinese negotiating team Liu He last Wednesday on the first stage of the trade deal in the White House.

Other than that, investors are looking forward this week to the decision and directions of monetary policy makers at the central banks of the major global economies, starting from the Bank of Japan tomorrow, Tuesday, through the Bank of Canada on Wednesday, and reaching the European Central Bank. Also, attention will be paid during this week to launch the activities of the World Economic Forum in Switzerland. It will be attended by corporate executives and bankers, as well as politicians, and this year they will include US President Trump.

Technical analysis

The price of gold ended last week's trading above 1556.70, which leads the price to start a new bullish wave and stop the bearish correction that started from the areas of 1611.20, supported by the moving average 50, and by looking at the graph, we find that the price has completed forming an inverted head and shoulders pattern shown within the rectangle, This supports the chances of achieving more gains in the upcoming sessions.

Therefore, the bullish bias will be expected for today, and targets start to surpass the 1575.90 level to confirm the trend towards the aforementioned top as a next main station, taking into consideration that breaking 1554.10 and holding below it will return the price to the downside corrective path again.

The expected trading range for today is between 1550.00 support and 1575.00 resistance.

Expected trend for today: bullish.

The US dollar fluctuated in a narrow range slanting upward during the Asian session to witness its stability near its top since the second half of last May against the Japanese yen after the developments and economic data that it adopted earlier this week from the Japanese economy amid the scarcity of economic data today Monday before American economy due to Martin Luther King's Day holiday in the United States.

At exactly 6:11 am GMT, the US dollar pair rose against the Japanese yen by 0.11% to 110.18 levels compared to the opening levels at 110.06, after achieving its highest level during the trading session at 110.22, while achieving the lowest at 110.05, knowing that The pair closed last week's trading at 110.14 levels before starting this week's trades on a falling price gap.

We have followed about the Japanese economy, the third largest economy in the world and the third largest industrialized country in the world, the disclosure of industrial sector data with the release of the final reading of industrial production, which showed a widening decline to 1.0% compared to the previous initial reading for the month of November and expectations that indicated the stability of the decline at 0.9%, compared to a decline of 4.5% last October.

Technical analysis

The dollar versus the yen trades around 110.20, and the price gets continuous positive support from the EMA50, while the stochastic starts to cross positively now.

Consequently, we believe that opportunities exist to resume the bullish bias targeting initially testing the 110.50 level, noting that breaching this level will push the price to 111.50 as a next station, while holding above 109.33 is an important condition for the continuation of the suggested bullish wave.

The expected trading range for today is between 109.50 support and 111.00 resistance.

Expected trend for today: bullish.

SberBank continues to rise after it managed to break through the 260.60 resistance. To continue the bullish path for Spur Bank.

Keeping the price above 255.80 is a prerequisite for the continuation of the bullish price action. While breaching this level will lead the price to the corrective decline towards 250.46.

Price action above the moving averages that move in an upward order under the price and constitute a positive price pressure factor.

The stochastic oscillator is moving sideways near the buy area and gives an indication of the continuation of the bullish move, therefore we will see attempts from the price to achieve new levels.

The general direction of the movement: bullish.

The single currency fluctuated the euro in a narrow range tilted to the upside during the Asian session to witness its rebound to the second session from the lowest since January 10 against the US dollar on the threshold of developments and economic data expected on Monday by Germany, the largest economy in the euro area amid the scarcity of economic data in Early this week by the US economy due to Martin Luther King's Day celebration in the United States.

At exactly 05:47 am GMT, the euro pair rose against the US dollar by 0.03% to 1.1097 levels compared to the opening levels at 1.1094, after the pair achieved its highest level during the trading session at 1.1099, while achieving the lowest at 1.1089.

The markets are looking for Germany to release the PPI reading, which is an initial indication of inflationary pressures that may reflect the stability of stability at zero levels, little changed from the previous reading in November, in conjunction with the meetings of the Eurogroup attended by the finance ministers of member states in the region. , Commissioner for Economic and Monetary Affairs and the Governor of the European Central Bank, which discusses many financial issues such as mechanisms to support the euro and government funding, up to the disclosure of the monthly report of the German Central Bank.

Other than that, we followed last week, European Trade Commissioner Philip Hogan commented on the European-American trade talks that took place last Thursday, that the spirit of cooperation prevailed during the talks and that the auto sector was not discussed and the talks did not include the file of increasing customs duties, explaining that the two parties are still They discuss taxes on technology giants and that the European Union wants to reorganize its trade relations with the United States, adding that it is the last trade agreement between the United States and China that is complex and that the European Union must study it in a good way.

Technical analysis

The euro against the dollar trades stable below 1.1100, and the MA 50 constitutes a negative pressure that supports the chances of the continuation of the bearish tendency to test the bullish channel support located at 1.1065.

Therefore, we will continue to favor the bearish trend during the upcoming sessions, noting that breaching the mentioned support will push the price to visit the 1.0985 level as a next target, while the expected decline will remain if the price is unable to breach the 1.1180 level and hold above it.

The expected trading range for today is between 1.1040 support and 1.1160 resistance

Expected trend for today: bearish.