Analytic reviews

Gazprom settled below the support level 186.00, as it continues to move within the descending channel that appears on the chart.

The price is now moving below the 20-50 averages that form resistance levels and pressurize it to decline.

While we have major resistance at 202.70 and major support at 158.75.

We see that the stochastic indicator returns towards the oversold area and the movement within a bearish path will therefore press the price for further decline.

The price action will be between the support level 158.75 and the resistance level 202.20.

The general direction of the movement is bearish.

Futures contracts for gold prices fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement of the fifth session from its high since August 19, amid the rebound of the US dollar index for the sixth session in a row from its lowest since late April 2018 according to the inverse relationship between them on The cusp of economic developments and data expected today, Tuesday, by the US economy, the largest economy in the world, and amid investor pricing, as tensions escalate between Washington, Beijing, the United Kingdom, and the European Union.

At exactly 05:44 am GMT, gold futures contracts for December delivery fell 0.31% to trade at $ 1,932.00 per ounce, compared to the opening at $ 1,938.00 per ounce, knowing that the contracts started the session on a rising price gap after it was concluded Yesterday's trading at $ 1,934.30 an ounce, with the US dollar index rising 0.08% to 93.14 compared to the opening at 93.06.

Investors are waiting for the US economy to reveal the consumer credit index reading, which may reflect an increase to $ 12.9 billion compared to $ 8.9 billion last June. Otherwise, we followed up yesterday, US President Donald Trump expressed that there is a possibility to separate the US economy. On China and that decision will not lead to extensive financial losses, adding that the World Trade Organization has become much better for America, with reference to the fact that China faces the risk of facing separation from the United States or exposure to huge tariffs.

The Republican US President Trump also announced that his country will ban federal contracts for companies that use Chinese sources, while expressing that because of the Democratic candidate for the upcoming US presidential elections in November, John Biden, China has closed about 70 thousand companies and that members of the Democratic Party do not want to reach To agree on a new stimulus package for the US economy with the Republicans, as they know it is in the economy's favor.

Technical analysis

Gold price ended yesterday's trading below 1934.86, which puts the price under expected negative pressure during the upcoming sessions, on its way to test the 1901.80 level mainly, supported by the SMA 50.

Thus, the bearish bias will be likely for today, bearing in mind that breaching 1934.86 - 1938.00 levels will stop the expected decline and lead the price to resume the main bullish trend again.

The expected trading range for today is between 1910.00 support and 1945.00 resistance.

The expected general trend for today: Bearish.

The US dollar fluctuated in a narrow range, tilted towards a decline during the Asian session against the Japanese yen, following the developments and economic data that were followed by the Japanese economy and on the cusp of economic developments and data expected today, Tuesday, by the US economy, the largest economy in the world.

At exactly 07:05 GMT, the US dollar against the Japanese yen fell by 0.01% to 106.26 levels compared to the opening levels at 106.27, after the pair achieved its lowest level during the session's trading at 106.24 while achieving its highest at 106.31.

The Japanese economy, the second largest in Asia, followed the release of the annual household spending index, which showed a widening decline to 7.6% compared to 1.2% last June, worse than expectations that indicated a widening decline to 3.6%. This coincided with the annual average income reading showed that the decline narrowed to 1.3% compared to 2.0% in June, beating expectations that indicated the decline to 1.6%.

We also monitored the Japanese economy, the release of the current account index reading, which showed a contraction of the surplus to a value of 0.96 trillion yen compared to 1.05 trillion yen in June, worse than expectations that indicated a widening of the surplus to 1.44 trillion yen, while the seasonally unadjusted reading of the index itself showed a widening The surplus amounted to 1,468 billion yen, compared to 168 billion yen in June, below expectations that the surplus would widen to 1,869 billion yen.

This came with the release of the final seasonally adjusted GDP reading, which showed a contraction of 7.9% compared to a contraction of 7.8% in the preliminary reading for the second quarter and compared to a contraction of 0.6% in the first quarter last, surpassing expectations that indicated a widening of the contraction to 8.1%, while the annual final reading indicated The same index measured by prices has a growth of 1.3% compared to the preliminary reading and expectations of 1.5% growth and 0.9% growth in the first quarter.

The Japanese Cabinet Office revealed a reading of Eco Watchers’s statistics on current and future conditions, which showed a contraction of current conditions to a value of 43.9 compared to 41.1 in July, surpassing expectations that indicated the expansion of contraction to 41.0. A value of 42.4 compared to 36.0 in July, also contrary to expectations that indicated the expansion of the contraction to 28.2.

On the other hand, investors are waiting for the US economy to unveil the consumer credit index reading, which may reflect an increase to $ 12.9 billion compared to $ 8.9 billion last June. Otherwise, according to the latest figures issued by the World Health Organization, the number of cases has increased. Coronavirus-infected more than 27 million people and 881,464 people have died in 216 countries.

Technical analysis

The dollar versus the yen did not show any strong movement yesterday, to remain stable below 106.44, while the stochastic indicator lost its positive momentum significantly, which supports expectations for the continuation of the bearish trend for the coming period, whose next main target is at 105.20, while it represents stability below 106.44 An important condition for its continuation.

The expected trading range for today is between 105.60 support and 106.70 resistance.

The expected general trend for today: Bearish.

NZDUSD

The pair is trading lower as indicators point to a slowdown in China’s business activity amid the ongoing China–US trade conflict. This situation may have a long-term negative impact on the pair.

Technical side:

The price is located below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is turning up. Stoch also turn up in the oversold zone.

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

Trading recommendations:

If the price drops below 0.6685, it will go further down to 0.6645.

AUDUSD

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. A bullish divergence has formed on Awesome Oscillator. A breakout of 0.7300 will result in the formation of an H1 level ascending pattern within the overall uptrend.

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

Trading recommendations:

Buy above 0.7300.

Stop Loss: 0.7224.

The target is 0.7412.

#HYDR

The 0.7150 support level is holding back sellers. The stock is trading in the range of 365 and 135 moving averages directed upwards. Stochastic Oscillator indicates an oversold condition. The Wedge pattern has formed.

Trading recommendations:

Buy when an ascending pattern 1-2-3 is formed.

Stop Loss under the support level of 0.7150.

Target levels: 0.7566; 0.7785; 0.8250.

Monday, September 7th, today’s news—European markets recover after the last week's losses, Thursday's ECB meeting in focus. Gold is up on the negative US jobs data, the dollar is rising, Saudi Arabia cuts oil prices amid the weak demand in Asia. The price of Brent oil is $42.02, WTI—$39.14. EUR/USD is at 1.1832 GBP/USD—1.3192, gold is $1,937.45 per ounce.

Aeroflot stock continues to test the support level 82.00 by the end of last week's trading, but it failed to breach this level. The stock returned to the sideways movement it was trading in during the past two weeks, as it tested the key support level of 78.50, which is considered one of the important levels that the price is exposed to.

The price is moving below the moving averages 507-20- which move in one level at the level of 84.00 and form the first resistance level for the price and prevent it from rising further.

The Australian dollar fluctuated in a narrow range sloping to an upside during the Asian session, to witness its bounce for the second consecutive session from the lowest since 27 August against the US dollar, following the developments and economic data that were followed on Monday by the Australian economy and amid the scarcity of economic data at the beginning of this week The US economy is ranked by the largest in the world due to the Labor Day holiday in the United States.

At exactly 03:58 am GMT, the Australian dollar against the US dollar rose 0.04% to the levels of 0.7285 compared to the opening levels at 0.7283 after the pair achieved its highest level during the session's trading at 0.7298, while the lowest is at 0.7273, knowing that the pair started The session traded on a rising gap, after ending last week's trading at 0.7282 levels.

On the Australian economy, we have followed up on the disclosure of the services index reading by the Australian Industrial Group (AIG), which reflected the widening of the contraction to a value of 42.5 compared to 44.0 in July, and this came before we witnessed the disclosure of Australian labor market data with the release of the index reading. Employment announcements showed growth slowing to 1.6%, from 19.1% in July.

Technical analysis

The Australian dollar against the US dollar made an attempt to break the support of the main ascending channel, but it returns to fluctuate around it, which keeps the bullish trend scenario valid and effective for the upcoming period, and it needs to surpass the EMA 50 to facilitate the task of resuming the upside move that targets 0.7440 then 0.7500 as next major stations.

On the other hand, we should note that a breach of 0.7250 then 0.7225 will stop the expected rise and pressure the price to start a downward corrective wave.

The expected trading range for today is between 0.7225 support and 0.7350 resistance

The expected general trend for today: Bullish

The single currency, the euro, fluctuated in a narrow range that tends to decline during the Asian session, to witness its rebound for the fifth session in a row from its highest since the second of May 2018 against the US dollar on the cusp of economic developments and data expected today, Monday by the economies of the euro area and amid scarce economic data in Early this week by the US economy the largest in the world due to the Labor Day holiday in America.

At exactly 06:23 AM GMT, the euro pair fell against the US dollar by 0.05% to 1.1834 levels, compared to opening levels at 1.1840, after the pair achieved its lowest level during the session's trading at 1.1830, while it achieved its highest at 1.1848, knowing that The pair started the session on a rising gap after ending last week’s trading at 1.1838 levels.

The markets are looking to Germany, the largest economy in the euro area, to reveal industrial sector data, with the release of the seasonally adjusted industrial production index reading, which may show a slowdown in growth to 4.5% compared to 8.9% last June, before we witness the Eurozone economies as a whole. The reading of the Sentex consumer confidence index, which shows the contraction of the contraction to a value of 11.4 compared to 13.4 last August.

Technical analysis

The EUR / USD pair tested the support level of the main ascending channel and returned to rise again, but the price finds a strong resistance ceiling at 1.1860, which needs to be breached to confirm the continuation of the main bullish trend and head towards our positive targets that start at 1.1916 and extend to 1.2045.

Therefore, we will continue suggesting the upside move for the upcoming period, provided that the price maintains stability above 1.1790, and most importantly, above 1.1760.

The expected trading range for today is between 1.1760 support and 1.1916 resistance.

The expected general trend for today: Bullish.