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The resistance level of 108.50 holds back buyers. A pin bar reversal pattern formed on the H4 timeframe. Bearish divergence has formed on Awesome Oscillator indicator, while Stochastic Oscillator indicator signals oversoldness. The nearest support level is 107.30.

Trading recommendations:

Sell Below 107.30.

Stop Loss – 109.15.

Target levels-105.60; 103.20; 99.00.

The pair has formed a double top reversal pattern, which continues it’s formation. The Fed may stop cutting rates, and this will put pressure on the pair.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is located on the oversold zone line and moves horizontally. Stoch are also in this zone and uninformative.

Trading recommendations:

Expect the pair to continue dropping to 1.1000.

The US dollar fell during the Asian session to witness a rebound for the third session from its highest since October 30, when it tested the highest since early August against the Japanese yen amid the lack of economic data by the Japanese economy and on the eve of developments and economic data expected on Thursday from Ahead of the US economy the largest in the world.

At 06:09 AM GMT the USDJPY fell 0.21% to 108.75 levels from the opening levels of 108.98, the pair's highest level during the trading session, while the pair reached its lowest level at 108.65.

Investors are currently awaiting the US economy to reveal last week's jobless claims reading, which may reflect a decline of 3 thousand applications to 215 thousand applications. The reading of the number of claims applications may show investors a decline of 30 thousand applications to 1,660 thousand applications. Before we see the release of the consumer credit reading which may show slower growth to $ 15.6 billion versus $ 17.9 billion in August.

Technical Analysis

USDJPY continues to decline to near 108.40, noting that the stochastic has eliminated its negative momentum to reach oversold areas, awaiting the price to rebound upwards and resume the upside trend that is regulated within the ascending channel shown, whose targets begin to breach 109.33. To confirm opening the way towards 110.50.

From here, our bullish outlook will remain valid unless 108.40 is breached.

Expected trading range for today is between 108.00 support and 109.50 resistance.

Expected trend for today: Bullish.

Gold futures fluctuated in a narrow range upward during the Asian session to witness the rebound to the third session of the lowest since October 16, ignoring the rise of the US dollar index to its highest since 17 of the same month according to the inverse relationship between them on the eve of developments and economic data The US economy is expected Thursday in the shadow of market pricing to postpone a trade agreement between Washington and Beijing.

At 03:37 am GMT, gold futures for December delivery rose 0.01% to trade at $ 1,1491.22 an ounce, compared with the opening at $ 1489.78 an ounce. The dollar index rose 0.05% to 98.00 compared to the opening at 97.95.

Investors are currently awaiting the US economy to reveal last week's jobless claims reading, which may reflect a decline of 3 thousand applications to 215 thousand applications. The reading of the number of claims applications may show investors a decline of 30 thousand applications to 1,660 thousand applications. Before we see the release of the consumer credit reading which may show slower growth to $ 15.6 billion versus $ 17.9 billion in August.

Otherwise, we followed the report that the upcoming meeting between US President Donald Trump and his Chinese counterpart Xi Jinping to sign an interim trade agreement could be postponed to December as the US and China discuss the terms of the agreement and where the two presidents will gather, knowing, Among the various proposals are their meeting to sign the agreement after the meeting of the North Atlantic Treaty Organization scheduled for early next month

Technical Analysis

Gold finished yesterday's trading below 1489.00, confirming the activation of the bearish trend scenario on the intraday basis, on its way to achieve negative targets starting at 1447.00, to be a bearish bias likely for today, supported by the negative pressure formed by SMA 50.

Therefore, we are waiting for negative trading over the coming sessions, bearing in mind that breaching 1489.00 level and holding above it will stop the expected decline and lead the price to recover again.

Expected trading range for today is between 1465.00 support and 1500.00 resistance.

Expected trend for today: Bearish.

The single currency fluctuated in a narrow range against the dollar during the Asian session to witness its bounce for the sixth session since its highest since October 21, when it tested the highest since August 14 against the dollar on the eve of developments and economic data expected on Thursday before Eurozone economies are the largest in the world.

At 05:08 AM GMT, EUR / USD fell 0.06% to 1.1059 levels compared to the opening at 1.1066, after hitting its lowest level since October 16 at 1.1055, while the pair reached its highest level during trading The session was at 1.1073.

Markets are looking for Germany, the euro zone's largest economy, to release a seasonally adjusted industrial production figure, which could reflect a 0.3% decline versus a 0.3% rise in September, before Italy's third largest economy releases retail sales, which could show a 0.3% rise. Down from 0.3% in August, coinciding with the release of the ECB's monthly ECB report.

In order to reveal the quarterly forecasts of the European Commission, in conjunction with the meetings of the euro group attended by finance ministers of the member countries of the region, the Commissioner for Economic and Monetary Affairs and the Governor of the European Central Bank, which discuss many financial issues such as mechanisms to support the euro and government funding, and these meetings are closed and does not allow means However, officials have been holding interviews with the media throughout the day.

On the other hand, investors are currently awaiting the US economy to reveal the reading of the claims applications for the past week, which may reflect a decline of 3 thousand applications to 215 thousand applications, as may read the index of claims applications shows a decline of 30 thousand applications to 1,660 thousand Requested, before we see the release of a consumer credit reading which may show slower growth to $ 15.6 billion versus $ 17.9 billion in August.

Technical Analysis

EUR / USD opens today with a new bearish bias to breach the 1.1065 level and try to hold below it, which puts the price under further negative pressure expected for the coming period, where the formation of a double top pattern showing its features in the above chart, which has negative targets reaching 1.0995 then 1.0950 .

Therefore, the bearish bias is likely for today, noting that the rally up and breaching 1.1105 will stop the expected decline and lead the price to regain its bullish path again.

Expected trading range for today is between 1.0950 support and 1.1120 resistance.

Expected trend for today: Bearish.

Cisco is moving in a sideways trend after the support at 46.89 has held up against the price action. The price was able to breach the 50 MA.

Stability is above 61.8% Fibonacci retracement which is a key factor to start the bullish path and with the price able to breach the 50-20 moving averages and stability above these averages will be a key factor to start the bullish move.

Stochastic is on an uptrend towards overbought area, which will increase the positive pressure on the price and strengthen the support level.

The general trend is to the upside.

The Aussie fluctuated in a narrow, bearish range during the Asian session to see its rebound for the third session from its highest since late October, when it tested the highest since July 26 against the US dollar following the developments and economic data that followed from the Australian economy and on the threshold Economic developments and data expected Thursday by the US economy, the largest economy in the world.

At 02:33 am GMT, AUDUSD fell 0.20% to 0.6870 levels, compared with opening levels at 0.6884, after the pair reached its lowest level during the session at 0.6866, while achieving the highest at 0.6885.

The Australian economy followed the release of the AIG Construction Index which showed contraction shrank to 43.9 from 42.6 in September, before the release of the Trade Balance which showed a surplus widening to $ 7.18 billion. Aussie versus A $ 6.62 billion in August, contrary to expectations that the surplus would shrink to A $ 5.10 million.

On the other hand, investors are currently awaiting the US economy to reveal the reading of the claims applications for the past week, which may reflect a decline of 3 thousand applications to 215 thousand applications, as may read the index of claims applications shows a decline of 30 thousand applications to 1,660 thousand Requested, before we see the release of a consumer credit reading which may show slower growth to $ 15.6 billion versus $ 17.9 billion in August.

Technical Analysis

AUDUSD has achieved a clear break of 0.6895 and stabilized below it, pressuring the support of the bullish intraday channel shown in the picture, which stops the positive scenario proposed in our recent reports and pressures the price to turn lower, on its way to achieve negative targets starting at 0.6825 and extending to 0.6755 .

Therefore, the bearish bias is likely for today unless 0.6895 is breached and stability above it again.

Expected trading range for today is between 0.6800 support and 0.6900 resistance

Expected trend for today: Bearish

The US dollar fluctuated in a narrow range, tilted lower during the Asian session to witness a rebound for the second session from the highest since October 30, when it tested the highest since early August against the Japanese yen following the developments and economic data that followed from the Japanese economy and on the threshold Economic developments and data expected on Wednesday by the US economy, including the speech of members of the Federal Open Market Committee.

At 05:58 AM GMT, USD / JPY fell 0.08% to 109.07 levels from 109.16 opening levels, after hitting a session low of 109.01 and a high of 109.18.

Following the release of the minutes of the BoJ meeting held at the end of October during which the Bank of Japan's monetary policy makers decided to keep interest rates negative at 0.10% and maintain the asset purchase program unchanged and future interest rate trends. , Which was expected with the market outlook, with the release of the monetary policy statement at the time.

On the other hand, investors are looking forward to the outcome of the Federal Open Market Committee and Charles Evans, chairman of the Federal Reserve Bank of Chicago, at the Council on Foreign Relations in New York. 2.2% vs. 2.6% in the second quarter.

Markets are also eyeing the US economy to reveal the preliminary reading of non-agricultural sector productivity, which may also show slower growth to 1.0% vs. 2.3% in the second quarter, up to FOMC member and New York Federal Reserve Chairman John Williams during his participation in Moderate discussion on the future of the workforce at the Wall Street Journal event in New York.

Technical Analysis

USDJPY succeeded in reaching a few pips from our first target at 109.33, showing some slight bearish bias affected by negative stochastics, and may test SMA 50 before resuming the bullish trend again.

So far, we expect the bullish bias to continue in the coming period supported by regular trading within the ascending channel shown in the picture, noting that a breach of 109.33 will push the price to 110.50 as the next stop, while the bullish trend will remain intact unless breaking 108.40 - 108.20 levels and holding below it.

Expected trading range for today is between 108.40 support and 109.80 resistance.

Expected trend for today: Bullish.

Gold futures fluctuated in a narrow upward range during the Asian session to witness the rebound for the second session of the lowest since October 16 last amid the decline of the US dollar index according to the inverse relationship between them on the eve of developments and economic data expected on Wednesday by the US economy This includes the FOMC members' talk and amid the look at developments in trade negotiations between Washington and Beijing.

Gold futures for December delivery rose 0.22% to trade at $ 1,485.70 an ounce compared with the opening at $ 1,483.50 an ounce, with the US dollar index down 0.02% to 97.93 compared to the opening at 97.95.

Investors are eyeing the outcome of Federal Open Market Committee Chairman Charles Evans at the Council on Foreign Relations in New York, ahead of the unveiling of a preliminary reading of a single US labor cost index that reflects a slower pace of growth to 2.2%. 2.6% in the second quarter.

Markets are also eyeing the US economy to reveal the preliminary reading of non-agricultural sector productivity, which may also show a slower pace of growth to 1.0% vs. 2.3% in the second quarter, up to FOMC member and New York Federal Reserve Chairman John Williams during his participation. In a moderate discussion about the future of the workforce at the Wall Street Journal event in New York.

On the other hand, investors hope that the United States, the largest economy in the world and China, the largest in Asia and the second largest in the world, to conclude the first phase of the trade agreement between them later this month, and that this will result in Washington not activating the recent decision to expand Imposition of tariffs on Chinese goods and goods by December 15.

Some of the report recently touched on the fact that China is seeking to force the United States to retreat from its trade protectionist policies and impose more tariffs on its exports to the US before President Xi Jinping agrees to take the politically sensitive move to the US to sign the first phase of the agreement. Trade with his US President Donald Trump.

We would like to point out that, as of now, it has not been announced when or where the US president will meet with his Chinese counterpart to sign the agreement, which could be a step towards resolving the trade disputes between Washington and Beijing in the shadow of the trade war between the two parties, which has passed its first year. On Monday, I touched on the fact that China is reviewing the available places in America where the two presidents could meet to sign the agreement.

Technical Analysis

Gold finished yesterday's trading below 1489.00, confirming the activation of the bearish trend scenario on the intraday basis, on its way to achieve negative targets starting at 1447.00, to be a bearish bias likely for today, supported by the negative pressure formed by SMA 50.

Therefore, we are waiting for negative trading over the coming sessions, bearing in mind that breaching 1489.00 level and holding above it will stop the expected decline and lead the price to recover again.

Expected trading range for today is between 1465.00 support and 1500.00 resistance.

Expected trend for today: Bearish.

The single currency fluctuated in a narrow range against the dollar during the Asian session to see its bounce for the fifth session from its highest since October 21, when it tested its highest since August 14 against the dollar on the eve of developments and economic data expected on Wednesday before Eurozone economies and the US economy which include FOMC members speech.

At 05:06 AM GMT, EUR / USD fell 0.04% to 1.1071 levels from the opening at 1.1075, after the pair reached a session low of 1.1067, while the pair reached the highest at 1.1080.

Markets are looking for Germany, the euro zone's largest economy, to release factory orders which may show a 0.1% rise versus a 0.6% decline in August, revealing the services PMI for Spain, the region's fourth-largest economy, which may show a widening contraction to 52.8 from 53.3. In September, the release of the same index reading for Italy, the region's third largest economy, may also reflect a widening contraction to 51.0 versus 51.4.

Investors are also waiting for France, the second largest economy in the euro zone to reveal the final reading of the services PMI, which may show the stability of the expansion at 52.9 unchanged from the initial reading of last month, compared to 51.1 in September, before the final reading of the same indicator for Germany It may also show the stability of the amplitude at 51.2, little changed from the previous initial reading, versus 51.4.

The final reading of the Eurozone Services PMI which may show a steady expansion at 51.8 remains unchanged from the previous initial reading, and against 51.6 in September, before we also see the economies of the region as a whole the retail sales index which may show Growth slowed to 0.1% vs. 0.3% in August, while the annual reading of the same index may reflect acceleration to 2.4% vs. 2.1%.

On the other hand, investors are looking forward to the outcome of the Federal Open Market Committee and Charles Evans, chairman of the Federal Reserve Bank of Chicago, at the Council on Foreign Relations in New York. 2.2% vs. 2.6% in the second quarter.

Markets are also eyeing the US economy to reveal the preliminary reading of non-agricultural sector productivity, which may also show a slower pace of growth to 1.0% vs. 2.3% in the second quarter, up to FOMC member and New York Federal Reserve Chairman John Williams during his participation. In a moderate discussion about the future of the workforce at the Wall Street Journal event in New York.

Technical Analysis

EUR / USD held steady near 1.1065 after yesterday's strong decline, and since the price is above this level, our bullish outlook will remain valid so far, supported by positive stochastic, waiting for a breach of 1.1105 to consolidate the chances of heading towards 1.1180 as a first positive stop. .

On the other hand, we should note that breaching 1.1065 and holding below it will stop the expected rally and press the price to achieve further declines, where the main targets reach 1.0995 then 1.0950.

Expected trading range for today is between 1.1000 support and 1.1170 resistance.

Expected trend for today: Bullish.