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The Australian dollar fluctuated in a narrow uptrend range during the Asian session to witness the rebound of the 14th session in 23 sessions from the lowest since March 18, 2009 against the US dollar following the developments and economic data that followed the Australian economy and on the eve of developments and economic data Expected on Friday by the US economy the largest economy in the world.

At 03:07 AM GMT, the AUDUSD rose 0.20% to 0.6908 levels from the opening levels of 0.6894, after the pair reached its highest level during the session at 0.6910, while the pair achieved the lowest at 0.6884.

The Australian Manufacturing Index was released by the Australian Industrial Group (AIG), which showed the contraction widened to 51.6 from 54.7 in September, before inflation data was released with the release of the PPI. This is a preliminary indication of inflationary pressures that showed growth stabilized at 0.4% in the third quarter, in line with expectations.

In the same context, the Australian economy also followed the release of the annual PPI reading for the last quarter which showed a slowdown in the pace of growth to 1.6% vs. 2.0% in the previous annual reading of the second quarter. For last October.

On the other hand, investors are awaiting the release of the labor market data from the US economy last month which may reflect the rise in the unemployment rate to 3.6% vs. 3.5% in September, while the reading of the change in jobs index for non-agricultural sectors may show a slower pace of job creation to 90k jobs versus 136k jobs. Average hourly earnings may show a 0.3% growth versus steady zero.

This comes before we see the final reading of the US Manufacturing PMI by Markit, which may reflect the stability of the expansion at 51.5, little changed from the initial reading of last month versus 51.1 in September, and before we see the largest The ISM manufacturing index is expected to show a contraction shrinking to 49.0 vs. 47.8 in September.

In the same context, markets are also looking ahead to the US economy for the ISM Manufacturing Price Index reading to 50.1 versus a contraction of 49.7 in September, coinciding with the release of the Construction Spending which reflects accelerated growth to 0.2. % Compared to 0.1% last August.

This comes before we see FOMC and Fed Governor Richard Clarda delivering a speech titled "The United States, Japan and the Global Economy at the Japan Society's Food Banquet in New York," in conjunction with another Fed Governor Randall Quarles's speech on Friedrich. Hayek and the price system at the event hosted by Yale University in Connecticut.

FOMC Chairman John Williams will co-chair a question and answer session at Rutgers University in New Jersey, following the decision of Federal Reserve policy makers at the FOMC meeting October 29-30. Cut interest rates for the third consecutive meeting by 25 basis points to between 1.50% and 1.75%.

Technical Analysis

AUDUSD holds steady above the neckline of the breached double bottom pattern, supporting the continuation of the expected bullish scenario for the upcoming period, targeting mainly 0.7015, supported by moving above SMA 50.

Therefore, we are waiting for positive trading today, provided that the price holds steady above 0.6895.

Expected trading range for today is between 0.6870 support and 0.6960 resistance.

Expected trend for today: Bullish.

The euro rose on Friday in the European market against a basket of global currencies, extending gains for the fifth consecutive day against the US dollar, with the continuation of the first monthly gain in the last four months, and the biggest monthly gain in about 21 months, comes on the eve of developments and economic data expected today Friday by the largest US economy in the world.

The euro rose against the dollar by 0.2% to $ 1.1174, and the opening price of the day at $ 1.1151, and recorded the lowest level at $ 1.1130.

Investors are awaiting the release of last month's labor market data which may reflect a rise in the unemployment rate to 3.6% vs. 3.5% in September, while the Non-Farm Payrolls reading may show a slower pace of job creation to 90k vs. 136k jobs, and the hourly average income may show a 0.3% growth versus steady zero levels.

This comes before we see the final reading of the US Manufacturing PMI by Markit, which may reflect the stability of the expansion at 51.5, little changed from the initial reading of last month versus 51.1 in September, and before we see the largest The ISM manufacturing index is expected to show a contraction shrinking to 49.0 vs. 47.8 in September.

In the same context, markets are also looking ahead to the US economy for the ISM Manufacturing Price Index reading to 50.1 versus a contraction of 49.7 in September, coinciding with the release of the Construction Spending which reflects accelerated growth to 0.2. % Compared to 0.1% last August.

This comes before we see FOMC and Fed Governor Richard Clarda delivering a speech titled "The United States, Japan and the Global Economy at the Japan Society's Food Banquet in New York," in conjunction with another Fed Governor Randall Quarles's speech on Friedrich. Hayek and the price system at the event hosted by Yale University in Connecticut.

FOMC Chairman John Williams will co-chair a question and answer session at Rutgers University in New Jersey, following the decision of Federal Reserve policy makers at the FOMC meeting October 29-30. Cut interest rates for the third consecutive meeting by 25 basis points to between 1.50% and 1.75%.

Technical Analysis

EUR / USD is returning to the upside after yesterday's decline, approaching the 1.1180 level once again, and getting a positive positive support from SMA 50, waiting to contribute to push the price to breach the mentioned level and confirm the extension of the ascending wave towards 1.1280 as the next target.

Therefore, the bullish trend will remain valid and likely for the coming period, provided that it holds above 1.1105 levels and most important above 1.1065.

Expected trading range for today is between 1.1100 support and 1.1260 resistance.

Expected trend for today: Bullish.

Gold futures fluctuated in a narrow range, tilted lower during the Asian session, ignoring the decline of the US dollar index for the seventeenth session in twenty-four sessions from its highest since May 12, 2017 Friday by the US economy which includes the speech of members of the Federal Open Market Committee.

At 04:37 am GMT gold futures fell 0.15% to trade at $ 1509.70 an ounce compared with the opening at $ 1511.92 an ounce, while the dollar index fell 0.07% to 97.23 compared to the opening at 97.30.

Investors in the US economy are awaiting the release of last month's labor market data, which could reflect a rise in unemployment to 3.6% versus 3.5% in September, while the Non-Farm Payrolls reading may show a slower pace of job creation to 90,000. Against 136K jobs, the hourly average income reading could show a 0.3% growth versus steady zero levels.

This comes before we see the final reading of the US Manufacturing PMI by Markit, which may reflect the stability of the expansion at 51.5, little changed from the initial reading of last month versus 51.1 in September, and before we see the largest The ISM manufacturing index is expected to show a contraction shrinking to 49.0 vs. 47.8 in September.

In the same context, markets are also looking ahead to the US economy for the ISM Manufacturing Price Index reading to 50.1 versus a contraction of 49.7 in September, coinciding with the release of the Construction Spending which reflects accelerated growth to 0.2. % Compared to 0.1% last August.

This comes before we see FOMC and Fed Governor Richard Clarda delivering a speech titled "The United States, Japan and the Global Economy at the Japan Society's Food Banquet in New York," in conjunction with another Fed Governor Randall Quarles's speech on Friedrich. Hayek and the price system at the event hosted by Yale University in Connecticut.

FOMC Chairman John Williams will co-chair a question and answer session at Rutgers University in New Jersey, following the decision of Federal Reserve policy makers at the FOMC meeting October 29-30. Cut interest rates for the third consecutive meeting by 25 basis points to between 1.50% and 1.75%.

Yesterday, White House economic adviser Larry Kudlow said the first phase of trade talks between Washington and Beijing was going well, following a report that said Chinese officials were skeptical of a long-term trade deal with the United States. From their emphasis on progress in the first phase talks.

Technical Analysis

The price of gold provided good trading to stabilize around 1510.00, and gets positive support from SMA 50, to support the chances of the continuation of the bullish trend during the coming sessions, which targets 1535.00 as the next main station.

Therefore, we will continue to favor the bullishness over the coming sessions provided that stability above 1489.00, bearing in mind that the current stochastic negativity may press the price to provide temporary negative trading before resuming the expected rally.

Expected trading range for today is between 1500.00 support and 1530.00 resistance.

Expected trend for today: Bullish.

Amazon shares continue to move within the descending channel that appears on the chart as it reached the upper limit of the channel under the influence of moving averages 7-20-50 moving below the price and forming support levels.

Fibonacci retracement is moving around 23.6% and the price is trying to reach the next 38.2%.

Stochastic is moving in a sideways path within the overbought area, thus the exit of the indicator from this area will put the price down.

Expected trend: Neutral.

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 movement of the currency pair is upward, following by 135 and 365 moving averages in the trading range. Stochastic Oscillator indicator signals oversoldness.

Trading recommendations:

Buy while an ascending pattern is forming.

Stop loss under the support level 108.50.

Target levels – 108.90; 109.26.

The resistance level of 0.5123 holds back buyers. The stock is tradnig flat. Breaking through the upper border of the flat (0.5123) will give the opportunity for further growth in the range of the pivot zone 0.5180. A bullish divergence has formed on Awesome Oscillator indicator.

Trading recommendations:
Buy above 0.5123.
Stop loss – 0.5090.
Target – 0.5180.

The pair is trading below 1.1175 following yesterday's unexpected rise caused by the controversial press conference of Jerome Powell after the Fed's highly anticipated monetary policy decision.

The price is at the level of the upper boundary line of the Bollinger band, above SMA 5 and SMA 14. RSI is located below the oversold zone and moves horizontally. Stoch are reversing downwards in the oversold zone.

Trading recommendations: 
If the pair does not rise above 1.1175, it will adjust to the level of 1.1120.

The US dollar fluctuated in a narrow range, tilted lower during the Asian session to witness the rebound for the second consecutive session from the highest since early August, when it tested the highest since late May against the Japanese yen following the developments and economic data that followed from the Japanese economy, including The Bank of Japan's monetary policy-makers' decisions and attitudes ahead of Bank of Japan Governor Haruhiko Kuroda's press conference are on the eve of economic developments and data expected Thursday by the world's largest economy.

At 06:04 AM GMT, the USDJPY fell 0.16% to 108.68 levels from the opening levels of 108.85, after the pair reached its lowest level during the session at 108.59, while the pair achieved the highest at 108.90.

The second largest economy in Asia, the third largest in the world and the third largest industrialized country in the world, followed the release of industrial sector data which showed a rise of 1.4% versus a decline of 1.2% in August, beating expectations for a 0.4% rise. The index is up 1.1% versus a 4.7% decline in August, also better than expectations for a 0.1% decline.

This came before the Bank of Japan's monetary policy makers' decision to keep interest rates negative at 0.10%, which was expected in the markets, with the release of the monetary policy statement of the Japanese central bank, and before witnessing the press conference held by Bank of Japan Governor Haruhiko Kuroda. In Tokyo, he noted that the bank was moving ahead with its stimulus and asset purchase program until the inflation target of 2 percent was achieved.

We have also followed the release of the Consumer Confidence reading which showed a rise to 36.2 vs. 35.6 in September, beating expectations of 35.3, and the release of the Japanese housing market data with the release of the annual Housing Starts Index. The decline narrowed to 4.9% from 7.1% in August, beating expectations for a 6.6% decline.

On the other hand, investors are currently awaiting the US economy to reveal personal spending and income data which may reflect an acceleration in personal spending growth to 0.3% vs. 0.1% in August, and slower personal income growth to 0.3% vs. 0.4% in August, Core CPI reading may show a steady pace of growth in September at 0.1%.

This comes in conjunction with the release of the labor unit cost index, which may reflect the acceleration of growth to 0.7% compared to 0.6% in the second quarter, and the issuance of claims for the benefit last week on the 26th of this month, which may reflect an increase of 3 thousand applications to 215 thousand requests, Manufacturing data is released with the Chicago PMI reading which may reflect a contraction in contraction to 48.4 from 47.1 in September.

On the other hand, on Thursday we followed the end of the October 29-30 Federal Open Market Committee meeting in Washington, during which the Fed's monetary policy makers decided to cut the federal funds rate for the third consecutive meeting by 25 basis points to between 1.50% and 1.75%, which was in line with expectations.

Federal Reserve Governor Jerome Powell noted at a press conference yesterday that the Federal Reserve will temporarily stop adjusting monetary policy until the end of the year unless expectations change substantially in the coming period. The Fed will require a large and sustained movement in inflation to consider resumed rate hikes.

Technical Analysis

USDJPY traded markedly positive yesterday reaching the first awaited target at 109.33, bouncing down to approach 108.40 once again, noting that the stochastic is reaching oversold areas now, awaiting the price stimulus to resume the upside bias in the coming period. , The upside scenario remains valid unless 108.40 is broken and stability below.

SMA 50 supports the suggested bullish wave, noting that a break above the first target will push the price to 110.50 as the next major target.

Expected trading range for today is between 108.10 support and 109.50 resistance.

Expected trend for today: Bullish.

Gold futures fluctuated in a narrow, bullish range during the Asian session to rebound for the second consecutive session from the lowest since October 14 amid the dollar index fell for the 16th session in 23 sessions from its highest since May 12 2017, according to the inverse relationship between them after the developments and economic data that followed on Thursday on the Chinese economy, the largest consumer of metals in the world and on the threshold of developments and economic data expected by the US economy, the largest economy in the world.

At 04:56 AM GMT, contracts rose 0.25% to trade at $ 1497.50 an ounce compared to the opening at $ 1,498.52 an ounce, with the US dollar index down 0.13% to 97.32 compared to the opening at 97.45.

The China Federation of Logistics and Purchasing (CFLP) unveiled the Industrial and Services Purchasing Managers' Index (PMI) which showed the manufacturing sector contracted for the sixth consecutive month in October to 49.3. 49.8 in September, beating expectations of 49.9, while service sector expansion shrank to 52.8 from 53.7.

On the other hand, investors are currently awaiting the US economy to reveal personal spending and income data which may reflect an acceleration in personal spending growth to 0.3% vs. 0.1% in August, and slower personal income growth to 0.3% vs. 0.4% in August, Core CPI reading may show a steady pace of growth in September at 0.1%.

This comes in conjunction with the release of the labor unit cost index, which may reflect the acceleration of growth to 0.7% compared to 0.6% in the second quarter, and the issuance of claims for the benefit last week on the 26th of this month, which may reflect an increase of 3 thousand applications to 215 thousand requests, Manufacturing data is released with the Chicago PMI reading which may reflect a contraction in contraction to 48.4 from 47.1 in September.

On the other hand, on Thursday we followed the end of the October 29-30 Federal Open Market Committee meeting in Washington, during which the Fed's monetary policy makers decided to cut the federal funds rate for the third consecutive meeting by 25 basis points to between 1.50% and 1.75%, which was in line with expectations.

Federal Reserve Governor Jerome Powell noted at a press conference yesterday that the Federal Reserve will temporarily stop adjusting monetary policy until the end of the year unless expectations change substantially in the coming period. The Fed will require a large and sustained movement in inflation to consider resumed rate hikes.

In view of the developments in the trade war between Washington and Beijing, which have recently witnessed optimistic statements by both sides to resolve their trade disputes and raised hopes of reaching a first trade agreement by next month, yesterday we followed Chile's cancellation of the Asia-Pacific Economic Cooperation (APEC) summit meeting. It was due to be held next month for security reasons.

Investors were looking forward to the Asia-Pacific Economic Cooperation (APEC) summit in Chile by mid-November, with US President Donald Trump and Chinese President Xi Jinping set to meet there amid hopes of a trade deal between the world's two largest economies. This could be the cornerstone for resolving trade disputes, ending trade war and tariffs between them.

Otherwise, we have just followed the Bank of Japan's monetary policy makers' decision to keep interest rates negative at 0.10%, which was expected in the markets, with the release of the Bank of Japan's monetary policy statement, and before we witnessed the Bank of Japan's press conference. Japan Haruhiko Kuroda in Tokyo, in which he noted that the Bank of Japan has moved ahead with stimulus until the inflation target of 2 percent.

Technical Analysis

The price of gold presented positive trading yesterday to move away from the level of 1489.00, to reactivate the bullish scenario again, on its way to achieve positive targets starting at 1535.00 and extending to 1555.00.

Thus, the bullish bias is likely for today, supported by a move above SMA 50, noting that a break of 1489.00 will stop the expected rally and press the price to make a bearish correction with targets starting at 1447.00.

Expected trading range for today is between 1485.00 support and 1515.00 resistance.

Expected trend for today: Bullish.