Analytic reviews

Aeroflot share continues to rise after it managed to breach the resistance 68.30 in an attempt to end the bearish path and return to the upside again.

The price is moving above the moving averages 507-20- after it managed to breach it by the end of last week, which is moving near the support level 68.31 and pressures the price to continue rising.

The stochastic oscillator is moving within an ascending path towards the overbought area, thus it tries to pressure the price to continue to rise

General path of movement: an upward path

#MTS

The support level of 316.10 is holding back sellers. A bullish divergence has formed on the Awesome Oscillator indicator, and the Stochastic Oscillator indicator signals oversold. The stock is trading in the range of the internal downward price channel. 

Trading recommendations:

Buy when an ascending pattern 1-2-3 is formed, where wave 1 breaks through the upper border of the descending price channel. 

Stop Loss at the local minimum (316.10).

Target levels: 325.10; 327.35.

GBPUSD

A "Pin Bar" reversal pattern has formed on the D1 timeframe with a false breakout of the resistance level. Stochastic Oscillator signals overbought condition.

A truncated pattern of the H2 level has formed on the H1 timeframe, which ended with the breakdown of the inclined channel. A breakout of 1.3407 will result in the formation of a descending wave pattern of the H1 level. Awesome Oscillator shows a bearish divergence.

GBPUSD rate online: monitor the price movement in real time.

Trading recommendations:

Sell on the breakout of 1.3407.

Stop Loss: 1.3540.

Target levels: 1.3291; 1.3180.

Friday, December 4th, today’s news—German factory orders in October surpassed the pre-pandemic levels. European and Asian markets rise on the US stimulus hopes, China's export and import growth continues to gain pace, gold and oil are up, the weakest job data in six months is expected in the US. The price of Brent oil is $49.72, WTI—$46.58 EUR/USD is at 1.2158, GBP/USD—1.3418, gold is $1,844.35 per ounce.

#AL

The overall trend is upward. The descending pattern is truncated. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator signals an oversold condition.

Trading recommendations:

Buy when an ascending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the descending truncated pattern.

Stop Loss: 134.00.

Target: 144.00.

NZDCHF
The currency pair is testing the lower limit of the ascending price channel on the H4 timeframe.

Awesome Oscillator shows a bullish divergence, and Stochastic Oscillator signals an oversold condition on the H1 timeframe. The currency pair is trading in the range of the internal descending price channel.
NZDCHF rate online: monitor the price movement in real time.

Trading recommendations:

Buy on the formation of an ascending pattern 1-2-3, where wave 1 breaks through the upper border of the descending internal price channel.

Stop Loss at the local minimum.

Target levels: 0.6335; 0.6382.

The US dollar fluctuated in a narrow, bullish range during the Asian session against the Japanese yen, amid scarce economic data from the Japanese economy and on the cusp of economic developments and data expected on Friday by the US economy, the largest economy in the world.

At 07:23 AM GMT, the US dollar against the Japanese yen rose by 0.04% to 103.88 levels compared to the opening levels at 103.84, after the pair achieved its highest level during the session's trading at 103.99, while it achieved the lowest level at 103.74.

Investors are currently awaiting the US economy to disclose labor market data with the release of the employment change index reading for sectors other than agricultural, which may reflect 500,000 jobs added compared to 638,000 jobs added last October, while the average income index reading in At the time, growth stabilized at 0.1% in November, with the unemployment rate reading showing a decline to 6.8% from 6.9%.

This comes in conjunction with the release of the merchandise trade balance reading, which may explain the widening of the deficit to a value of $ 64.7 billion, compared to $ 63.9 billion last September, and before we witness the speech of Deputy Governor of the Federal Reserve and a member of the Federal Open Market Committee, Michael Bowman, about banking services. Community and FinTech at an online event hosted by the Independent American Banking Community.

Markets are also looking forward to the release of the factory orders index reading, which may show a slowdown in growth to 0.8% compared to 1.1% in September. This came amid widespread expectations that lawmakers will also pass a $ 1.4 trillion budget to avoid a government shutdown on the 11th of this month.

Technical analysis

The dollar versus the yen traded with strong negativity yesterday, to succeed in achieving our first awaited target at 103.65, waiting for further decline to break this level and confirm the extension of the bearish wave towards 103.00 as a next negative station.

Consequently, the downside scenario will remain expected for the upcoming period, keeping in mind the importance of holding below 104.76 for the continuation of the suggested decline.

The expected trading range for today is between 103.00 support and 104.50 resistance

The expected general trend for today: Bearish

The Australian dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement of the second session from its highest since the ninth of August 2018, while it is still in the process of its third consecutive weekly gains against the US dollar after the developments and economic data that followed it on the Australian economy and on On the cusp of economic developments and data expected on Friday by the US economy, the largest in the world.

At exactly 03:55 AM GMT, the Australian dollar fell against the US dollar by 0.12% to 0.7430 levels compared to opening levels at 0.7439, after the pair achieved its lowest level during the session's trading at 0.7425, while the pair achieved its highest at 0.7444.

This was followed by the Australian economy, the Australian Bureau of Statistics revealed the final seasonally adjusted final reading of the retail sales index, which showed a 1.4% rise compared to a 1.6% rise in the previous preliminary reading for October, beating expectations for a 0.5% rise, compared to a 1.1 decline. % In the previous reading for the month of September.

On the other hand, investors are currently awaiting the US economy to disclose labor market data, with the release of the employment change index reading for the sectors other than agricultural, which may reflect 500 thousand jobs added compared to 638 thousand jobs added in October, while the average index reading Hourly income growth stabilized at 0.1% in November, with the unemployment rate reading showing a decline to 6.8% from 6.9%.

This comes in conjunction with the release of the merchandise trade balance reading, which may explain the widening of the deficit to a value of $ 64.7 billion, compared to $ 63.9 billion last September, and before we witness the speech of Deputy Governor of the Federal Reserve and a member of the Federal Open Market Committee, Michael Bowman, about banking services. Community and FinTech at an online event hosted by the Independent American Banking Community.

Markets are also looking forward to the release of the factory orders index reading, which may show a slowdown in growth to 0.8% compared to 1.1% in September. This came amid widespread expectations that lawmakers will also pass a $ 1.4 trillion budget to avoid a government shutdown on the 11th of this month.

Technical analysis

The Australian dollar versus the US dollar confirmed the breach of 0.7413 after closing the daily candlestick above it, reinforcing expectations for the continuation of the bullish trend in the intraday and short term, which targets 0.7530 as a next station.

The SMA 50 continues to support the suggested bullish wave, which will remain valid and effective unless 0.7335 is breached and stability below it.

The expected trading range for today is between 0.7380 support and 0.7500 resistance

The expected general trend for today: Bullish

Gold Analysis 04-12-2020

Futures contracts for gold prices fluctuated in a narrow range sloping to an upward trend during the Asian session, to witness its retracement of the fifth session from its lowest since the second of July, overlooking the bounce of the US dollar index to the second session from its lowest since April 23, 2018 according to the inverse relationship between them on On the cusp of economic developments and data expected on Friday by the US economy, the largest in the world.

At exactly 05:53 am GMT, the futures contract for gold prices for next February delivery rose 0.02% to trade at $ 1,845.00 per ounce compared to the opening at $ 1,844.70 per ounce, knowing that the contracts started the session on a rising price gap after yesterday's trading was concluded At $ 1,841.10 per ounce, while the US dollar index rose 0.05% to 90.69 compared to an opening at 90.64.

Investors are currently awaiting the US economy to disclose labor market data with the release of the employment change index reading for sectors other than agricultural, which may reflect 500,000 jobs added compared to 638,000 jobs added last October, while the average income index reading in At the time, growth stabilized at 0.1% in November, with the unemployment rate reading showing a decline to 6.8% from 6.9%.

This comes in conjunction with the release of the merchandise trade balance reading, which may explain the widening of the deficit to a value of $ 64.7 billion, compared to $ 63.9 billion last September, and before we witness the speech of Deputy Governor of the Federal Reserve and a member of the Federal Open Market Committee, Michael Bowman, about banking services. Community and FinTech at an online event hosted by the Independent American Banking Community.

Markets are also looking forward to the release of the factory orders index reading, which may show a slowdown in growth to 0.8% compared to 1.1% in September. This came amid widespread expectations that lawmakers will also pass a $ 1.4 trillion budget to avoid a government shutdown on the 11th of this month.

This comes in conjunction with growing market expectations that monetary policymakers at the Federal Reserve will amend their directives regarding the asset purchase plan by the middle of this month during the upcoming FOMC meeting, and amid expectations that monetary policymakers at the European Central Bank will present at its meeting next week On the expansion of bond purchases as part of the efforts to confront the repercussions of the Corona pandemic.

In another context, we followed earlier this week the assertion of both Federal Reserve Governor Jerome Powell and Treasury Secretary Stephen Mnuchin, in their testimony about the "CARES" law before the Congress in both parts of the Senate and Representatives, that the American economy desperately needs to pass an expanded stimulus package and that the policy Finance will be a more effective tool in the face of the deterioration of the situation caused by the Corona pandemic.

According to the latest figures issued by the World Health Organization, the number of infected cases increased to nearly 63.97 million, and 1,488,120 people were killed in 220 countries, otherwise, it is reported that Treasury Secretary Mnuchin sent a message last month to Federal Reserve Governor Powell stating that the amount of $ 455 billion allocated to the treasury under the law (CARES) should be available to Congress for reallocation.

We would like to point out that the Federal Reserve announced earlier this week that the liquidity facility program for commercial papers, money markets, primary dealers and the payroll check protection program will be extended until the end of March 2021. Which the US Treasury Department recently ordered to close by the end of this month.

In the same context, the Federal Reserve previously issued a statement in which it stated that it “prefers that the entire set of emergency facilities that were established during the Corona pandemic continue to play an important role as a support for our economy, which is still suffering from stress and weakness.” After that, she undertook a report that addressed the possibility of establishing The Fed will expand monetary stimulus during its next meeting, especially after announcing that it will comply with the Treasury's request to return unused funds.

Technical analysis

Gold price shows more positive trading to settle above 1838.10, reinforcing expectations for the continuation of the bullish trend in the intraday and short term, waiting to initially test the 1850.00 level, whose breakout represents the key to heading towards 1870.00 as a next positive target.

Thus, we will keep our bullish expectations supported by the 50 SMA unless breaking 1818.00 and holding below it.

The expected trading range for today is between 1820.00 support and 1870.00 resistance

The expected general trend for today: Bullish

USDCAD

The pair remains in a short-term downtrend as the US dollar weakens, while crude oil prices resume growth. If these two important factors persist, the pair will remain under pressure.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold zone and is declining. Stoch are also in this zone.

USDCAD rate online: monitor the price movement in real time.

Trading recommendations:

Sell the pair if it fixes below 1.2855 following the negative employment data release in the US with a likely drop to 1.2775.