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The overall trend is upward. A bullish divergence formed on Awesome Oscillator, and Stochastic Oscillator signals oversoldness. A reversal pattern Hammer formed on the H1 timeframe.

Trading recommendations:

Buy Above 45.27.

Stop Loss – 44.37.

Target levels - 47.15; 48.60.

If the local minimum is updated, cancel the trading plan.

Gold has corrected upwards as there’s still no definitive US-China trade deal. If the US inflation and GDP data published today confirm the predictions, gold may remain under pressure. 

The price is below the middle Bollinger band, below SMA 5, but above SMA 14. RSI is located below the level of 50% and gradually decreases. Stoch are leaving the overbought zone and suggest selling.

Trading recommendations:

Sell gold in case of the positive US economy data, a target of 1444.50 after passing the 1457.80.

Gold futures fluctuated in a narrow range, tilted lower during the Asian session to witness the lowest since November 12, when it tested the lowest since August 2, ignoring the rebound of the US dollar index for the second session of its highest since 14 of this month According to the inverse relationship between them following the speech of the Federal Reserve Governor Jerome Powell and on the eve of developments and economic data expected Tuesday by the US economy and in the shadow of market pricing opportunities to resolve trade disputes between Washington and Beijing.

At 04:04 AM GMT gold futures for February delivery fell 0.01% to trade at $ 1,461.20 an ounce compared with the opening at $ 1,461.30 an ounce, knowing that the contracts started the trading session on a falling price gap after yesterday's trading ended At $ 1,463.80 an ounce, while the US dollar index fell 0.04% to 98.29 compared to the opening at 98.33.

We have just followed Fed Governor Jerome Powell's speech “Building on the Gains from Long Expansion” at the Providence Chamber of Commerce annual meeting in Rhode Island. It may reflect a rise of 0.2% versus a decline of 0.4% last September.

This comes in conjunction with the release of the Trade Balance of Goods, which may show the widening deficit to $ 71.3 billion versus $ 70.4 billion in September, and before the release of US housing market data with the release of the house price index, which may show accelerated growth to 0.5% vs. The S&P House Price Index showed annual growth accelerated to 2.1% in August from 2.0% in August.

Concerning the release of the Consumer Confidence reading, which may show an expansion to 126.9 vs. 125.9 last October, coinciding with the release of Richmond Industrial Index which may reflect a decline in the expansion to 6 vs. 8 in October, With the release of the New Home Sales, which may show a 1.0% rise to 708K versus a 0.7% decline at 701K in September.

Later in the day, investors were also awaiting FOMC member and Fed Governor Lyle Brennard's speech on a review of the Fed's monetary policy strategy framework as well as tools and communication at the New York Business Economics Association Awards in New York.

Otherwise, given the developments in the US-China trade war, we followed up on Saturday by US National Security Adviser Robert O'Brien that a trade agreement with China could be reached by the end of this year, and investors are looking at whether Washington will do its tariffs on Chinese goods worth $ 156 billion by December 15 will either freeze its decision until further notice.

US National Security Adviser O'Brien warned that his country would not turn a blind eye to what is happening in Hong Kong. In contrast, in the latest move by China to ease trade tensions, Beijing announced last weekend that Sanctions on intellectual property violations will be lifted. US President Donald Trump said Friday he was "very close" to the trade deal.

Technical Analysis

The price of gold introduced new negative trading yesterday to approach our awaited target at 1447.00, which represents the 38.2% Fibonacci retracement of the rise measured from 1269.50 to 1556.68, which means that breaking this level will push the price to visit the next correction level at 1413.10.

SMA 50 continues to pressure the price negatively, supporting the chances of continuation of the bearish bias, breaking the above mentioned level and achieving further declines during the coming sessions, thus, we will continue to favor the bearishness over intraday and short term unless it breached 1489.00 level and holds a daily close above it.

Expected trading range for today is between 1440.00 support and 1465.00 resistance.

Expected trend for today: Bearish.

The Aussie fluctuated in a narrow, bearish range during the Asian session, bouncing back to its 14th session in 19 sessions from its highest since July 26 against the US dollar after the Reserve Bank of Australia's assistant governor, Governor of the Risk Management Committee Jay Debell, and bank governor talk Federal Reserve Jerome Powell on the eve of RBA Governor Philip Lowe's recent economic developments and data on Tuesday by the world's largest economy.

At 03:11 AM GMT, the AUDUSD retreated 0.03% to 0.6777 levels, compared to the opening levels of 0.6779, after the pair reached its lowest level during the session at 0.6772, while achieving the highest at 0.6786.

The RBA Assistant Governor, in charge of the Risk Management Committee, Jay Debell, delivered a speech titled “Employment and Wages” at the Australian Council of Social Service in Canberra, amid expectations that RBA Governor Philip Lowe will also address “ Unconventional Monetary Policy: Some Lessons from Abroad "at the annual dinner for Australian business economists in Sydney.

On the other hand, we have just followed the speech by Fed Governor Jerome Powell, titled “Building on the Gains from Long Expansion” at the Providence Chamber of Commerce annual meeting in Rhode Island. Wholesale inventories may reflect a rise of 0.2% versus a decline of 0.4% last September.

This comes in conjunction with the release of the Trade Balance of Goods, which may show the widening deficit to $ 71.3 billion versus $ 70.4 billion in September, and before the release of US housing market data with the release of the house price index, which may show accelerated growth to 0.5% vs. The S&P House Price Index showed annual growth accelerated to 2.1% in August from 2.0% in August.

Concerning the release of the Consumer Confidence reading, which may show an expansion to 126.9 vs. 125.9 last October, coinciding with the release of Richmond Industrial Index which may reflect a decline in the expansion to 6 vs. 8 in October, With the release of the New Home Sales, which may show a 1.0% rise to 708K versus a 0.7% decline at 701K in September.

Later in the day, investors were also awaiting Federal Open Market Committee (FOMC) member and Fed Governor Lyle Brainard to review the Federal Reserve's monetary policy framework as well as the tools and communication at the New York Business Economics Awards in New York. For the time being the developments of the trade war between Washington and Beijing.

Technical Analysis

AUDUSD has been able to break the support shown on the chart and stabilize below it, supporting our continuation of the bearish outlook, and the path is open to achieving our negative targets starting at 0.6725 then 0.6670.

Therefore, we will continue to favor the bearish bias during the upcoming sessions unless breaching 0.6840 and holding above it.

Expected trading range for today is between 0.6720 support and 0.6820 resistance.

Expected trend for today: Bearish.

The single currency fluctuated in a narrowly bullish range during the Asian session, bouncing back for the fourth consecutive session since November 5 against the US dollar on the eve of economic developments and data on Tuesday. The economic developments and data expected on Tuesday by the US economy, the largest economy in the world.

At 05:27 am GMT the EURUSD fell 0.01% to 1.1013 levels from opening levels of 1.1012 after hitting a session low of 1.1006 and a high of 1.1016.

US Federal Reserve Governor Jerome Powell delivered a speech titled "Building on Gains from Long Expansion" at the Providence Chamber of Commerce annual meeting in Rhode Island. Down from 0.4% in September.

This comes in conjunction with the release of the Trade Balance of Goods, which may show the widening deficit to $ 71.3 billion versus $ 70.4 billion in September, and before the release of US housing market data with the release of the house price index, which may show accelerated growth to 0.5% vs. The S&P House Price Index showed annual growth accelerated to 2.1% in August from 2.0% in August.

Concerning the release of the Consumer Confidence reading, which may show an expansion to 126.9 vs. 125.9 last October, coinciding with the release of Richmond Industrial Index which may reflect a decline in the expansion to 6 vs. 8 in October, With the release of the New Home Sales, which may show a 1.0% rise to 708K versus a 0.7% decline at 701K in September.

Later in the day, investors were also awaiting Federal Open Market Committee (FOMC) member and Fed Governor Lyle Brainard to review the Federal Reserve's monetary policy framework as well as the tools and communication at the New York Business Economics Awards in New York. For the time being the developments of the trade war between Washington and Beijing.

Technical Analysis

The EURUSD pair provided quiet negative trading yesterday and approached the 1.0995 level, and the negative effect of the double top pattern continues to pressure the price to achieve further expected decline for the coming period, to continue to favor the bearish trend over the intraday and short term, which is the next target at 1.0950.

SMA 50 supports the bearish outlook, recalling the importance of holding below 1.1065 to continue the suggested bearish bias.

Expected trading range for today is between 1.0930 support and 1.1080 resistance.

Expected trend for today: Bearish.

Google's stock continues to move within the ascending channel and is testing support 1295.55 at EMA20.

The price continues to move within the ascending channel above the 20-50 MA which is forming support levels and pushing it higher.

Stochastic approached the oversold area and gives a signal to start an uptrend towards the overbought area thus we will see more bullishness.

The general direction of movement is: bullish.

The US dollar fluctuated in a narrow bullish range during the Asian session to witness the highest since November 12 against the Japanese yen following the speech of Fed Governor Jerome Powell in addition to the developments and economic data that followed from the Japanese economy, the third largest economy in the world Economic developments and data expected on Tuesday by the US economy, the largest economy in the world.

At 05:59 AM GMT, the USDJPY rose 0.03% to 108.96 levels from the opening levels of 108.93 after hitting a two-week high of 109.21, while a session low of 108.92.

The Japanese economy followed the release of inflation data with the release of the annual Services Price Index which showed growth accelerated to 2.1% from 0.5% last September, beating expectations for a 1.8% growth. The Bank of Japan released its core annual CPI reading which showed growth stabilized at 0.3% last month, below expectations for 0.4%.

On the other hand, we have just followed the speech by Fed Governor Jerome Powell, titled “Building on the Gains from Long Expansion” at the Providence Chamber of Commerce annual meeting in Rhode Island. Wholesale inventories may reflect a rise of 0.2% versus a decline of 0.4% last September.

This comes in conjunction with the release of the Trade Balance of Goods, which may show the widening deficit to $ 71.3 billion versus $ 70.4 billion in September, and before the release of US housing market data with the release of the house price index, which may show accelerated growth to 0.5% vs. The S&P House Price Index showed annual growth accelerated to 2.1% in August from 2.0% in August.

Concerning the release of the Consumer Confidence reading, which may show an expansion to 126.9 vs. 125.9 last October, coinciding with the release of Richmond Industrial Index which may reflect a decline in the expansion to 6 vs. 8 in October, With the release of the New Home Sales, which may show a 1.0% rise to 708K versus a 0.7% decline at 701K in September.

Later in the day, investors were also awaiting FOMC member and Fed Governor Lyle Brennard's speech on a review of the Fed's monetary policy strategy framework as well as tools and communication at the New York Business Economics Association Awards in New York.

Technical Analysis

USDJPY traded markedly positive yesterday, approaching our first awaited target of 109.33, and waiting to cross this level to open the way for further positive targets reaching 110.50.

In general, we continue to favor the bullish trend, provided that it holds above 108.40, noting that the current stochastic negativity may cause a temporary decline before resuming the expected rise.

Expected trading range for today is between 108.40 support and 109.70 resistance.

Expected trend for today: Bullish.

When buying an option against the trend, it is necessary to confirm other instruments of technical analysis - the presence of divergence, candlestick reversal patterns. Buy against trend strictly on level retest! 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 tools of technical and fundamental analysis.

The overall trend is upward.  The Stochastic Oscillator  shows oversoldness. Breaking through the resistance level 763.42, will result in the formation of an upward wave pattern within the upward wave from the D1 level.

Trading recommendatons:

Buy Above 763.42.

Stop Loss – 746.85.

The target is 798.50.

Move to breakeven when the profit is equal to Stop Loss.

Gold prices are correcting upwards against the backdrop of the continuing US-China trade talks. Gold can recover locally, but it will remain under pressure in the future, as the US-China trade agreement will be eventually reached.

The price is below the middle Bollinger bands, at SMA 5, but below SMA 14. RSI is located above the oversold zone and turned up. Stoch are not informative.

Trading recommendations:

A price could rise above 1457.809 and then to 1462.50. Sell from this level with a target of 1444.50 amid the positive US economy data to be published today.