Analytic reviews

#MT

The stock is trading in the range of 365 and 135 moving averages. Awesome Oscillator indicator shows a bullish divergence, while Stochastic Oscillator indicator showed an exit from the oversold zone. A break of 9.96 will result in the formation of an ascending pattern of 1-2-3.

Trading recommendations:

Buy above 9.96.

Stop Loss: 9.52.

Target levels: 10.50; 11: 00.

Monday, August 24th,  today’s news—stock indexes of the Asia-Pacific region (APR) are growing, despite continuing concerns about the second wave of coronavirus and the recovery of the world economy. During today's Asian trading, the US dollar is slightly changed relative to the main world currencies amid the ambiguous signals for the market. The price of Brent oil is $45.11, WTI—$42.55. EUR/USD is at 1.1809. GBP/USD—1.3101, gold is $1,945.90 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

EURUSD technical analysis

The pair is consolidating above the 1.1755 following the uncertainty about future developments in the currency markets. It forms a pattern of continuation of the "rising flag" trend, which is a signal for a possible continuation of the upward movement of the price. Keep track of the price movement in real time.

Trading recommendations: expect the pair to turn up to 1.1965. But if it falls below the 1.1755, it will fall to 1.1700.

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Trading ideas for PJSC NOVATEK 

The overall trend is upward. The stock is trading in the range of 135 and 365 moving averages directed upwards. Awesome Oscillator indicator shows a bullish divergence, while Stochastic Oscillator indicator signals an oversold condition. Keep track of the rate changes in real time.

Trading recommendations: buy when an ascending 1-2-3 pattern is formed, where wave 1 breaks through the inclined channel of the descending structure.

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AUDUSD analysis

The overall trend is upward. The descending pattern of the H1 level is truncated. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator indicator signals an oversold condition. Keep track of the price movement in real time.

Trading recommendations: buy on the formation of an ascending structure, above 0.7178; Stop Loss – 0.7136; target  – 0.7216; 0.7267.

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Useful info and online charts

Visit the new section on Grand Capital website to monitor the rate changes of your preferred instruments and get useful information to help you decide on a trading strategy.

^{*Trading recommendations offered by analysts do not constitute a solicitation. Before starting to trade on currency exchange markets, please make sure that you understand the risks connected with the use of leverage and that you have sufficient level of training.}

There is nothing new in the movement of Aeroflot, as the stock tried to test the resistance level 86.50 at the end of last week's trading, but 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 around the level of the moving average 507-20- which moves in one level at the level of 84.00 and forms the first support levels for the price and prevents it from falling further.

The stochastic oscillator gives a sign of a change in the path, thus it will try to pressure the price to return to the sideways track, after the support level 83.50 remained.

The stock can be bought with confirmation of the breach of the support level 86.50, and targets will be 94.90-101.20 and a stop loss below 82.70

The Australian dollar versus the US dollar managed to break the support of the bullish intraday channel and settled below it, which supports the continuation of our bearish expectations effectively in the upcoming sessions, supported by moving below the EMA50, waiting to head towards 0.7065, which represents our first target.

Consequently, the bearish bias will be likely for today unless we witness an upside rally to breach 0.7243 and stabilize above it.

The expected trading range for today is between 0.7100 support and 0.7200 resistance.

The expected general trend for today: Bearish.

The euro settled negatively against most of the major currencies during trading on Monday, and the single European currency did not move firmly against the US dollar as the impact of weak economic data is still extended

On Friday, data revealed that the Purchasing Managers' Index (PMI) for manufacturing industries in the euro zone recorded 51.7 points in August, compared to expectations that the index would rise to 52.7 points

The services PMI for the unified bloc countries scored 50.1 points this month, while expectations indicated that the index would rise to 54.6 points.

It is expected later this week to start the "Jackson Hole" meetings, which will discuss the most prominent developments in the monetary and financial policies in the time of "Corona".

In terms of trading, the euro stabilized against the US dollar by 06:13 GMT, negatively at 1.1793, and the highest price was recorded at 1.1808, while the lowest price was recorded at 1.1785.

Technical analysis

The EUR / USD pair stabilizes below the 1.1800 barrier, and the price is undergoing a re-test process for this level, to get the features of a negative pattern that we think has the ability to push the price to achieve more expected decline during the upcoming sessions.

Therefore, we expect to witness negative trading in the intraday term, and the next target is to test the support for the main ascending channel around 1.1670, bearing in mind that breaching 1.1800 then 1.1865 will stop the expected decline and lead the price to restore the main bullish trend again.

The expected trading range for today is between 1.1700 support and 1.1865 resistance.

The expected general trend for today: Bearish.

Gold prices fell during trading on Monday, as trading began the week with pressure on the precious metal, which is struggling to return above $ 2000 an ounce so far.

Analysts said that gold entered a period of sideways movement after the historic rise that pushed it above the $ 2,000 barrier for the first time ever.

Some believe that the yellow metal is witnessing a corrective movement that will contribute to re-adjusting its path in the long run.

This comes despite the continued decline of the dollar against most of the major currencies, and last week's close in a bearish range.

Investors are closely following the developments of the "Corona" crisis, as the Food and Drug Agency officially announced the approval of the use of blood plasma of those recovering from the virus in the treatment of other infected people.

The dollar index (against a basket of major currencies) settled negatively at 93.2 points, which is the highest level so far, while the lowest level is at 93.1.

In terms of trading, spot gold contracts fell by 04:42 GMT by 0.3% to 1940.7 dollars an ounce, and the highest price was at 1949 dollars and the lowest price was at 1937.6 dollars.

Technical analysis

The price of gold continues to fluctuate around 1934.86, and it faces continuous negative pressures. By carefully looking at the chart, we find that the chart is drawing a head and shoulders pattern that has targets that surpass the support of the main ascending channel to cause a possible shift in the short-term direction to the downside.

Therefore, we prefer to stay neutral until we get a clearer signal for the next trend, noting that a break of 1929.50 will complete the formation of the negative pattern and push the price to achieve negative targets that start at 1901.80 and extend to 1860.90 while breaching 1955.90 represents the key to the resumption of the main bullish trend whose targets begin At 1967.90 then 2008.80.

The expected trading range for today is between 1900.00 support and 1968.00 resistance.

The expected overall trend for today: Neutral.

The Japanese yen fell against the US currency during trading today, Monday, in light of the escalation of the Corona virus crisis in the country with the third largest economy in the world.

The Japanese government announced an increase in the number of Coronavirus infections in a number of regions and provinces, which reflects warnings of some that Tokyo will be exposed to a second wave of the disease.

For its part, the World Health Organization confirmed the highest absence of any vaccine yet for the "Corona" virus that had fulfilled the organization's conditions regarding safety of use and effectiveness.

The US Food and Drug Administration had officially announced the approval of the use of blood plasma of people recovering from the "Corona" virus in treating people with the disease in a way that would contribute to containing the coronavirus in the United States.

The US dollar is experiencing fluctuations in light of the cautious anticipation of the developments of Corona and also of the "Jackson Hole" meetings later this week.

In terms of trading, the US dollar rose against the Japanese yen, by 06:41 GMT, by 0.1% to 105.8, and the highest price was recorded at 105.9 and the lowest price was at 105.6.

Technical analysis

The dollar versus yen pair provided temporary positive trades last Friday, to test the 106.00 barrier, but it begins to rebound down from this level, as the moving average 50 forms good negative pressure against the price, while the stochastic oscillator begins to cross negatively.

Thus, these factors support the continuation of the expected negative scenario for the upcoming period, whose targets start with testing 105.20, with a reminder that breaking this level will push the price to 103.65 as a next main target, while the expected decline will remain intact unless the 106.44 level is breached and stability above it.

The expected trading range for today is between 105.00 support and 106.40 resistance.

The expected general trend for today: Bearish.

EURUSD

The pair is consolidating above the 1.1755 following the uncertainty about future developments in the currency markets. It forms a pattern of continuation of the "rising flag" trend, which is a signal for a possible continuation of the upward movement of the price.

Technical side :

The price is below the middle Bollinger band, above SMA 5, but still below SMA 14. RSI is below the 50% level and moves horizontally. Stoch unfold up.

EURUSD rate: monitor the price movement in real time.

Trading recommendations:

Expect the pair to turn up to 1.1965. But if it falls below the 1.1755, it will fall to 1.1700.

AUDUSD

The overall trend is upward. The descending pattern of the H1 level is truncated. Awesome Oscillator shows a bullish divergence, while Stochastic Oscillator indicator signals an oversold condition. 

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

Trading recommendations:

Buy on the formation of an ascending structure, above 0.7178.

Stop Loss – 0.7136.

Target levels – 0.7216; 0.7267.

#NVTK

The overall trend is upward. The stock is trading in the range of 135 and 365 moving averages directed upwards. Awesome Oscillator indicator shows a bullish divergence, while Stochastic Oscillator indicator signals an oversold condition. 

#NVTK rate online: monitor the price movement in real time.

Trading recommendations:

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

Stop Loss under the price pivot zone of 1115.0.

Target levels: 1170.0; 1200.0.