Analytic reviews

Sberbank failed to breach the resistance level at 217.78 as the price tested the previous resistance level several times and failed to breach to bounce back towards the support level 211.05 and succeed in breaking it

The moving average 20 stopped the price fall as price support formed while SMA 50 is the second support level near the 193.85 level

Stochastic is a very low form where negative pressure on the price and push it to the downside and approaching the entry into the saturation area of selling, therefore, increase the negative pressure on the price

The expected movement between support is 205.38 and resistance is 230.18

In general, we will keep the overall trend bullish and consider the previous movement is a correction movement of the ascending path but provided that the trading remains above the level of 205.38

The general direction of movement: neutral

GBPUSD

The pair is trading above 1.2920. It’s still held down by the uncertainty over Brexit. It may resume falling if today’s GDP data is weak.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving down. Stoch are entering the oversold territory.

Trading recommendations:

Sell the pair with a possible target of 1.2830.

The US dollar fluctuated in a tight range slipping into the Asian session against the Japanese Yen after the Federal Reserve Bank of St. Louis and Federal Open Market Committee member James Pollard on monetary policy following economic developments and data followed Friday by the Japanese economy, the world's third-largest economy.

At 6:01 am GMT, the pair dropped 0.08% to 109.73, compared with the opening levels at 109.82, after reaching a low of 109.65, while the highest at 109.84.

We have followed the Japanese economy to reveal the annual reading of the index of average wages, which showed the acceleration of growth to 1.8% compared to the annualized last November and expectations of 1.7%, while the annual reading of the index of average cash income accelerated growth to 1.4% compared to 0.8 %, Below expectations for accelerated growth to 1.7%.

This came in line with the annual reading of the Household Spending Index, which showed a 0.1% rise compared to a 0.6% drop in November's annual reading, below expectations of a 0.8% rise. Before we saw the release of the current account reading, From 457 billion yen to 757 billion yen in November, worse than the forecast of 469 billion yen.

In the same context, the seasonally adjusted CPI showed a surplus widening to 1,562 billion yen from 1,439 billion yen in November, exceeding expectations of 1,502 billion yen, coinciding with the release of the annual reading of the bank lending index, which showed stable growth At 2.4% during January, in line with expectations.

This was before we saw the release of the Echo Watchers statistical review of the current and future situation of the last month by the Japanese Cabinet Office, which showed the current contraction of the current situation to 45.6 compared to 46.8 in the previous reading for the month of December last, contrary to expectations at 48.5, while The contraction of future conditions contracted to 49.4 versus 47.9, beating expectations that the contraction of the contraction to 48.1.

This comes hours after Bank of Japan Governor Haruhiko Kuroda said Wednesday that the Japanese economy has improved significantly from 2013 and inflationary expectations of inflation have improved recently, but inflation has not reached the target of the central bank yet, adding that inflationary pressures may be accelerating The pace of growth gradually towards the target two percent.

Kuroda noted that the expansion of the Bank of Japan's monetary base will not help stimulate the Japanese economy, adding that the expansion of the monetary base leads to a decline in real interest rates, resulting in a drop in bank interest on loans, following remarks by Japanese Prime Minister Shinzo Abe that The Bank of Japan has not met the inflation target yet and it is focused on supporting the Japanese labor market.

The Japanese government announced earlier this month a ten-day holiday from Saturday 27 April to Monday, May 6 next year for the celebrations of Japan's rise of the new emperor to rule there during the official holiday, and that to be crowned Crown Prince at the beginning of May, and we wish to point out that this six-day holiday will be the longest in Japan's history.

Technical Analysis

USD / JPY is showing more sideways trading near SMA 50, noting that Stochastic is attempting to gain positive momentum gradually to support chances of resuming the upside move which is based on stability above 109.16, while its main targets start at 110.24 and extend to go away to 111.56 after breaching the previous level.

The trading range for today is expected among the support at 109.16 and the resistance at 110.70

The general trend for today is bullish

Gold futures traded in a narrow, sloping range during the Asian session to see their fourth session rebound in six sessions since April 25, shrugging off the negative stability of the US dollar index to reflect the end of its longest daily gains since mid- In November 2016, in the shadow of renewed investor fears about tensions and trade talks between Washington and Beijing and concern over prospects for economic growth.

Gold futures for April delivery fell 0.09% to currently trade at $ 1,312.60 per ounce, compared with the opening at $ 1,310.90 an ounce, while the US dollar fell 0.02% to 96.58 from the opening at 96.60. 

US President Donald Trump said he did not intend to meet Chinese President Xi Jinping before the March 11 deadline for a trade deal between the United States and China, raising concerns about a trade war between the world's biggest economies. , On the eve of US Treasury Secretary Stephen Manchin's visit to Beijing next week.

Otherwise, we also followed yesterday the Bank of England Governor Mark Carney cut his forecast for the UK economy's growth this year to the slowest pace in a decade, with the risk of a UK exit without an EU agreement and trade tensions between the US and China in recent times , About two hours after the European Commission lowered its forecast for the pace of growth of the euro area economies for the same reasons.

In another context, we followed the former Federal Reserve Governor Janet Yellen yesterday that she expected the next step by the Federal Reserve to interest rates to be cut, especially if the slowdown in global economic growth caused damage to the US economy, explaining that the decision to cut interest rates will be available In that case, adding that if the damage grows, the Fed will return to quantitative easing policies again.

On the other hand, the World Gold Council's statistics last week pointed to the global purchases of gold by the global central banks in 2018 to their highest level since 1967. Purchases rose to 651.5 metric tons, up 74% from 2017 to 375 tons Metric tonnes, with many countries buying gold, topped by Russia, at 274 metric tons, which surpassed China, the world's largest consumer of metals, and inspire both Poland and Kazakhstan.

Global gold consumption rose to 4,345.1 metric tons last year from 4,159.9 metric tons in 2017. Retail investment in bullion and gold coins rose 4 percent to 1,090.2 metric tons, supported by Iran's demand increase of 222 percent to 62 metric tons, Demand for jewelry has stabilized at around 2,200 metric tons with increased consumption compensation in both China, the United States and Russia for lower demand from the Middle East and India.

In contrast, the demand for financial institutions fell by 67% from the year 2017, when the world supply of gold increased 1% to a total of 4,490.2 metric tons in 2018. The gold futures contracts last month made the fourth monthly gain, respectively, illustrated Has seen its longest monthly gains since late 2010, after ending its longest monthly loss march since late 1996.

Technical Analysis

Gold is fluctuating around SMA 50, and we see that Stochastic is currently overbought and offers a negative cross signal that we expect to contribute to the resumption of the downside move targeting 1294.00 and then 1286.70 mainly.

Therefore, we will continue to bias the bearishness during the upcoming sessions unless the price is pushed to breach the 1316.65 level and stability above it.

The trading range for today is among the support at 1286.00 and resistance at 1316.00

The general trend for today is bearish

The euro fell marginally on the European market on Friday against a basket of global currencies, continuing losses for the fifth day in a row against the US dollar, to the lowest level in two weeks recorded earlier in yesterday's trading, after the European Commission sharply lowered its forecast for economic growth in the eurozone this year And next year.

EUR / USD fell less than 0.1% to 07:10 GMT, trading at $ 1.1336, the opening price of $ 1.1338, the highest at $ 1.1344 and the lowest at $ 1.1335.

The euro lost 0.2% against the dollar on Wednesday, its fourth daily loss in a row, hitting a two-week low of $ 1.1324, as US currency purchases continued against a basket of major and minor currencies, coinciding with a gloomy outlook for European economic growth.

Over the course of this week, the single European currency "Euro" lost 1.1% against the US dollar "Dollar" in the first weekly loss during the last three weeks, the biggest weekly loss since late September last.

The loss has led investors to focus on buying the US dollar as the best investment in the foreign exchange market, with the ECB tightening the possibility of tightening monetary policy this year, especially as data and indicators confirm the sharp decline in European economic growth.

The European Commission on Thursday sharply lowered its outlook for economic growth in the euro zone this year and next year, fueled by strong prospects that major EU nations will be drained by internal challenges and global trade tensions.

The eurozone's growth will slow to 1.3% this year from 1.9% growth rate in 2018, before rising to 1.6% by 2020, the commission said. The new estimates are much less optimistic than those issued in November, with Brussels expecting growth At 1.9 percent in 2019 and 1.7 percent in 2020.

In another ECB concern, the EC expects Eurozone inflation to reach 1.4% this year, below the central bank's 1.6% estimate, below the Bank's target of 2.0%.

Technical Analysis

The EURUSD finished yesterday's trading below 1.1370, and negative pressure remains for the coming period supported by SMA 50, awaiting further downside towards our next target at 1.1181.

Keep in mind that breaching 1.1370 and 1.1443 will stop the negative scenario and lead the pair to return to the upside in the short term.

The trading range for today is among the key support at 1.1240 and resistance at 1.1410

The general trend for today is bearish

The Australian dollar fell during the Asian session to rebound to the fifth session in seven sessions of its highest since December 5 and prepare for the first weekly loss in three weeks and the weakest weekly performance since mid-November of 2016 against the US dollar after the disclosure The Bank of Australia's monetary policy statement at the end of the week and the talk of St. Louis Federal Reserve Chairman and Federal Open Market Committee member James Pollard on monetary policy.

At 02:39 GMT, the New Zealand dollar slipped 0.45% to 0.7069 from the opening levels of 0.7101, after reaching its lowest level since January 4th at 0.7061, while its highest in trading Session at 0.7105.

We followed the release of the Reserve Bank of Australia's monetary policy statement hours after Australian Central Bank Governor Philip Lowe and the central bank's monetary policy makers kept the benchmark interest rate at 1.50% for the 28th consecutive meeting, Then.

On Wednesday, Governor of the Reserve Bank of Australia (BOE) Louis said that the outlook for the interest rate was broadly balanced, It was a scenario that the next step up is likely on the scenario that the next step will be reduced, and today the odds are moderately balanced. "

If the Australian labor market saw more strength and tightening, it could increase interest rates, while any weakness in the labor market would prompt the Reserve Bank of Australia to re-evaluate the situation, which significantly weighed on the performance of the Australian dollar this week to be the worst performer Weekly in more than two years against his US dollar.

Technical Analysis

The AUDUSD extended negative trading yesterday to move towards our negative target of 0.7000, so that the bearishness remains intact over the intraday basis supported by the move below SMA 50, noting that the above-mentioned level will push the price towards 0.6930 as a next stop, while Stability below 0.7170 is a prerequisite for continued bearishness.

The trading range for today is expected among the support at 0.7000 and the resistance at 0.7120

The general trend for today is bearish

Amazon shares retreated last week's bullish rally to a minor upside between support 1593.27 and resistance 1732.97

The price fluctuates around the moving averages 7 and 20 while the SMA 50 supports the price near 1593.27

The stochastic is moving near the oversold area and if it is able to enter it we will see further declines in price action

General direction of the movement: neutral

EURUSD

The pair is trading above 1.1330 due to concerns over the possible recession in Europe, which may force the ECB to resume the economic stimulus measures.

The price is below the lower Bollinger band, below SMA 5 and SMA 14. RSI is on the level of oversold zone and is moving horizontally. Stoch are reversing downwards.

Trading recommendations:

If the pair goes below 1.1350, it may drop to 1.1290.

Gold futures traded in a tight range slipping into the Asian session to see their fourth session retreat in five sessions from its highest since April 25 as the dollar index rebounded for the sixth consecutive session from its lowest since January 10 Past the reverse correlation between them after Fed Governor Jerome Powell spoke in Washington on the eve of developments and economic data expected Thursday by the US economy, the world's largest economy.

Gold futures for April delivery fell 0.23% to currently trade at $ 1,307.50 per ounce, its lowest since January 29 compared to the opening at $ 1,310.90 an ounce, amid a rise in the dollar index. American dollar dropped 0.06% to 96.44, its highest since 25 of last month compared to the opening at 96.39.

Federal Reserve Vice President and Federal Open Market Committee Chairman Randall Quarles spoke of the stress test for banks at the Board of Education in New York before we saw Governor of the Federal Reserve Jerome Powell speaking at the National Virtual Teacher's Hall meeting at which he noted Income inequality and slowness in productivity are the biggest challenges of the coming decade.

Powell said slow productivity and a widening wealth gap are the biggest challenges facing the United States over the next decade, adding that his major economic concerns fall outside the purview of the Federal Reserve, with emphasis on the adoption of more aggressive policies to address income inequality. In the middle and lower levels "grew much slower" than wages in the upper limbs.

The markets are currently looking for the US economy to read the Jobless Claims Index for the week ending February 2nd, which may reflect a 33K drop to 220K in the previous week's reading before we see the Federal Reserve Vice President and member of the Federal Market Commission Open Richard Clareda about neutral interest rates at the Czech National Bank conference in Prague.

On the other hand, the World Gold Council's statistics last week pointed to the global purchases of gold by the global central banks in 2018 to their highest level since 1967. Purchases rose to 651.5 metric tons, up 74% from 2017 to 375 tons Metric tonnes, with many countries buying gold, topped by Russia, at 274 metric tons, which surpassed China, the world's largest consumer of metals, and inspire both Poland and Kazakhstan.

Global gold consumption rose to 4,345.1 metric tons last year from 4,159.9 metric tons in 2017. Retail investment in bullion and gold coins rose 4 percent to 1,090.2 metric tons, supported by Iran's demand increase of 222 percent to 62 metric tons, Demand for jewelry has stabilized at around 2,200 metric tons with increased consumption compensation in both China, the United States and Russia for lower demand from the Middle East and India.

In contrast, the demand for financial institutions fell by 67% from the year 2017, when the world supply of gold increased 1% to a total of 4,490.2 metric tons in 2018. The gold futures contracts last month made the fourth monthly gain, respectively, illustrated Has seen its longest monthly gains since late 2010, after ending its longest monthly loss march since late 1996.

Technical Analysis

The price of gold is showing further bearishness to test the 1302.50 barriers now, bolstering expectations for a continuation of the decline over the coming sessions, targeting 1293.60 and then 1286.70, supported by the completion of a double top model showing its features.

From here, we are waiting for further downside today unless the price is pushed to breach the 1316.65 level and stability above it.

The trading range for today is among the support at 1286.00 and resistance at 1316.00

The general trend for today is bearish

The pound fell on Thursday against a basket of world currencies to continue its losses for the sixth day in a row against the US dollar, among the longest daily losses in 2019, hitting a two-week low as US currency continued to trade against most major and minor currencies, As investors await a quarterly report on inflation in Britain and the results of the first monetary policy meeting of the British central bank this year.

The pound fell against the dollar by 0.2% at 08:15 GMT, trading at $ 1.2905, the opening price of $ 1.2928 and the highest at $ 1.2944, and the lowest at $ 1.2897 since January 22.

On Wednesday, the pound lost 0.15% against the dollar, its fifth daily loss in a row, among the longest daily losses since August.

The dollar index rose 0.2% on Thursday, extending its sixth day in a row, reaching a two-week high of 96.32 points, reversing the greenback's rally against most major and major currencies.

Continued US currency purchases as the best current investment in the foreign exchange market, with strong prospects for the adherence of most of the central banks of global soft monetary policy and low-interest rates to address the economic slowdown.

Investors are looking at financial markets for a day of reports, decisions and important announcements from the UK, which are expected to have a significant impact on the GBP exchange rate against most of the world's currencies and will also affect the trading session of the London Stock Exchange.

By 12:00 GMT, the central bank is publishing its quarterly inflation report, which includes inflation expectations and growth in the royal economy over two years.

At the same time, the Bank of England releases monetary policy decisions and the Bank's members vote on this policy at the end of its first meeting in 2019. Most expectations indicate that the Bank will set interest rates at 0.75%, as well as keep the asset purchase program unchanged at EGP 435 billion Sterling per month.

By 12:30 GMT, UK central bank governor Mark Carney is commenting on the quarterly inflation report and monetary policy decisions.

Technical Analysis

GBPUSD remains steady below 1.2962, with negative pressure remaining for the coming period, and the price needs to exceed SMA 50, which is now supporting at 1.2890 to facilitate the move toward our next target at 1.2800.

Therefore, we will continue to bias the bearish trend in the coming sessions unless the level of 1.2962 is breached and stability above it.

The trading range for today is expected among 1.2840 support and 1.3000 resistance

The general trend for today is bearish