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Gold futures fluctuated in a narrow range tilted lower during the Asian session amid the positive stability of the dollar index according to the inverse relationship between them on the eve of developments and economic data expected on Friday by the US economy and following the criticism of US Vice President Mike Pence China's actions against protesters in Hong Kong His calls for a broader link between the world's two largest economies have been announced after the British prime minister said he might ask for early general elections on December 12.

At 03:50 am GMT gold futures for December delivery fell 0.09% to trade at $ 1,505.00 an ounce compared with the opening at $ 1,506.40 an ounce, knowing that the contracts started the trading session on a bullish gap after the close of trading Yesterday at $ 1,504.70 an ounce, with the US dollar index up 0.01% to 97.70 compared to the opening at 97.69.

Investors are currently awaiting the US economy to release the final reading of the University of Michigan Consumer Confidence, which could show a steady expansion of 96.0, little changed from the initial reading for October and 93.2 in September. The US is reading the federal budget which may show a surplus of $ 83.5 billion versus a deficit of $ 200.3 billion last August.

On Thursday, Vice President Pines said in a speech in China that his country is ready to start a new future if Beijing retracts from unfair trade, explaining that Washington is working to build a relationship based on justice and respect, adding that the United States It does not seek to confront China, but aspires to fair trade, an open market and respect for Washington's principles.

US Vice President Pines also expressed hope for the completion of the first phase of the trade agreement with China at the Asia-Pacific Economic Cooperation (APEC Summit) in Chile next month, and Beijing's emphasis on the purchase of additional US agricultural products, explaining that what will happen in the 21st century Depends largely on the fate of relations between Washington and Beijing.

In the same context, Pines said that US President Donald Trump hopes to move to structural challenges after the completion of the first phase of the trade agreement, pointing out that the Trump administration believes that if Washington and Beijing can achieve economic cooperation properly, it is possible to lay the foundations To address other issues, he said Beijing has not taken any clear measures to improve economic relations between the two countries.

US Vice President Pines made the remarks hours after the Chinese State Council said Wednesday that Beijing was determined to increase imports of US agricultural goods and products and keep the RMB exchange rate within a stable range and that Asia's second largest economy after the United States would continue to support Stability of foreign investment and trade.

US President Donald Trump said earlier this week he hoped to sign a trade deal with his Chinese counterpart Xi Jinping later in the month in Chile, noting that a partial trade agreement between Washington and Beijing is underway. China is now buying American agricultural products.

Meanwhile, White House economic adviser Larry Kudlow said Monday that tariffs on Chinese goods could be abolished if the first phase of trade talks between Washington and Beijing is completed well, saying things look good and negotiations between the two sides are good. They still exist, adding that human rights are among the important files in the negotiations between America and China.

Chinese Vice Premier Liu Hu said Saturday that the United States and China have made "significant progress" in trade talks, following a partial trade agreement earlier this month, adding that both Washington and Beijing are working Signing a written agreement between them as a basis for resolving the existing trade disputes between the two parties.

In view of the developments of the Brexit file, the markets are currently awaiting the decision of the European Union on the request of the British government last Saturday to extend the deadline for the exit of the United Kingdom from the European Union by three months until the end of January, has stated the new European Commission President Ursula Von der Leyne yesterday that the idea of ​​extending the exit seems guaranteed, but no decision has yet been made on the appropriate extension period.

In the same vein, French President Emmanuel Macron demanded that the extension of Britain's exit from the European Union to a maximum until November 15, saying that he wants to increase pressure on the British Parliament to support the exit agreement reached by British Prime Minister Boris Johnson this week He added that he feared that prolonging the exit timeframe could lead to a possible exit scenario without agreement.

On the other hand, Prime Minister Johnson also expressed yesterday that he would allow the British Parliament to have sufficient time to discuss the UK exit agreement and the timetable for the exit, if the approval of a general election on 12 December, adding that EU leaders are expected to approve the extension beyond October 31.

In the event that the EU decides to extend the deadline for Brexit for a short period of two weeks or a month, until mid-November or the end of next month, British Prime Minister Johnson may work to pass his exit agreement with Brussels again through parliament. In the case of a three-month extension, Johnson is expected to call parliament to vote on early general elections.

Technical Analysis

Gold finished yesterday's trading above the descending channel resistance, which stops the negative scenario suggested in our recent reports and leads the price to start a new bullish wave, on its way to regain the main bullish trend again.

Moving above SMA 50 supports the expected rise, which targets start at 1535.00 then 1555.00, while breaking 1489.00 represents a negative factor that will press the price to resume the bearish corrective trend.

Expected trading range for today is between 1490.00 support and 1520.00 resistance.

Expected trend for today: Bullish.

The US dollar fluctuated in a narrow range, tilted lower during the Asian session to witness its fourth session rebound in six sessions 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 third The largest economy in the world and on the eve of developments and economic data expected on Thursday by the US economy, the largest economy in the world.

At 05:55 AM GMT, the USDJPY fell 0.07% to 108.61 levels from the opening levels of 108.69, the pair's highest level during the session, while the pair achieved the lowest at 108.58.

We followed the preliminary reading of the Markit manufacturing PMI by Japan, the third largest industrial country in the world, which showed the contraction widened to 48.5 vs. 48.9 in September, contrary to expectations for a contraction to 49.2. The 50 barrier reflects contraction, while the reading at 50 or higher reflects widening.

On the other hand, investors are currently awaiting the US economy to release the Durable Goods Orders, which accounts for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect a 0.5% decline versus a 0.2% rise in August. In the past, the core reading of the index itself may show a 0.2% decline versus a 0.5% rise in August.

This comes in conjunction with the release of the index of claims for the last week on the 19th of this month, which may reflect an increase of two thousand applications to 216 thousand applications compared to 214 thousand applications in the previous weekly reading, while the reading of the claims application index may show investors for the past week on 12 of this The month decreased by 4 thousand applications to 1,675 thousand applications compared to 1,679 thousand applications.

Markets are also looking to reveal the preliminary reading of the US Manufacturing and Services PMI, amid expectations that the manufacturing sector will contract to 50.7 vs. 51.1 in September, while the preliminary reading of the Services PMI may show a widening of its value. 51.0 versus 50.9 in September.

The release of the US housing market data with the release of the new home sales index, which may reflect a decline of 0.4% to 710 thousand versus 7.1% rise at 713 thousand in August, comes before we see the US Treasury unveiled the federal budget reading which It could show a surplus of $ 83.5 billion versus a $ 200.3 billion deficit in August.

Technical Analysis

USDJPY has been trading sideways since yesterday, holding above 108.40, noting that the Stochastic is providing a positive crossover signal now, awaiting the price to resume the bullish corrective trend, which is aimed at testing 109.33 as the next stop.

Stability above 108.40 is important for the continuation of the expected rally, as breaking it will press the price to test 107.45 initially before determining the fate of the next price point.

Expected trading range for today is between 108.00 support and 109.40 resistance

Expected trend for today: Bullish

The Australian dollar fluctuated in a narrow range tilted to decline during the Asian session to witness the rebound for the fourth consecutive session from the highest since September 16 against the US dollar amid the lack of economic data by the Australian economy and on the eve of developments and economic data expected on Friday by the economy American largest economy in the world.

At 02:50 am GMT, the Australian dollar against the US dollar fell by 0.07% to 0.6814 levels compared to the opening levels at 0.6819, after the pair reached its lowest level during the trading session at 0.6809, while the pair achieved the highest at 0.6821.

Investors are currently awaiting the US economy to release the final reading of the University of Michigan Consumer Confidence, which could show a steady expansion of 96.0, little changed from the initial reading for October and 93.2 in September. The US is reading the federal budget which may show a surplus of $ 83.5 billion versus a deficit of $ 200.3 billion last August.

Technical Analysis

AUDUSD is retesting the breached resistance of the descending channel shown, noting that SMA 50 meets the pivotal support formed at 0.6800 zones to add more strength to it, waiting for a rebound upwards and resuming the upside corrective trend.

Therefore, the positive scenario will remain valid for the coming period, provided it holds above 0.6800, noting that the next major target is at 0.7015.

Expected trading range for today is between 0.6780 support and 0.6880 resistance.

Expected trend for today: Bullish.

Amazon's stock is moving downwards within the channel shown on the red chart. The price is currently moving below the 7-50 moving averages which form resistance levels and press it to fall further while the 20 average is a support level.

Stochastic is moving downwards after it exited the overbought area thus it is likely to press the price to test support 1708.02

Expected trend: Bearish.

The currency pair is trading in the range of 135 and 365 moving averages directed upwards. Bullish divergence formed on the Awesome Oscillator indicator, and Stochastic Oscillator indicator showed an exit from the oversold zone. Breaking through the pivot zone 0.6334 will result the formation of an upward wave structure within the overall uptrend.

Trading recommendations:

Buy above 06.334.

Stop Loss under the pivot zone 0.6309.

Target levels – 0.6360; 0.6390.

The support level of 102.74 held back sellers. Bullish divergence is forming on Awesome Oscillator indicator, and the Stochastic Oscillator indicator shows an exit from the oversold zone. The descending corrective pattern is truncated.

Trading recommendations:

Buy while an ascending structure is forming above the inclined channel of the descending truncated pattern.

Stop loss under the support level – 102.74.

Target levels – 106.07; 108.90 (уровень 138.2%F).

The pair is trading above 1.1100 ahead of the EU summit on Brexit. If decision is positive, it may rise to 1.1120, but in the future it is likely to resume the drop.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is below 50% and rising. Stoch also demonstrates this in the oversold zone.

Trading recommendations:

Sell the pair with local targets of 1.1100 and 1.1070, if it doesn't rise above the level of 1.1120.

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 US dollar fluctuated in a narrow range, tilted lower during the Asian session to witness its fourth session rebound in six sessions 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 third The largest economy in the world and on the eve of developments and economic data expected on Wednesday by the US economy, the largest economy in the world.

At 05:55 AM GMT, the USDJPY fell 0.07% to 108.61 levels from the opening levels of 108.69, the pair's highest level during the session, while the pair achieved the lowest at 108.58.

We followed the preliminary reading of the Markit manufacturing PMI by Japan, the third largest industrial country in the world, which showed the contraction widened to 48.5 vs. 48.9 in September, contrary to expectations for a contraction to 49.2. The 50 barrier reflects contraction, while the reading at 50 or higher reflects widening.

On the other hand, investors are currently awaiting the US economy to release the Durable Goods Orders, which accounts for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect a 0.5% decline versus a 0.2% rise in August. In the past, the core reading of the index itself may show a 0.2% decline versus a 0.5% rise in August.

This comes in conjunction with the release of the index of claims for the last week on the 19th of this month, which may reflect an increase of two thousand applications to 216 thousand applications compared to 214 thousand applications in the previous weekly reading, while the reading of the claims application index may show investors for the past week on 12 of this The month decreased by 4 thousand applications to 1,675 thousand applications compared to 1,679 thousand applications.

Markets are also looking to reveal the preliminary reading of the US Manufacturing and Services PMI, amid expectations that the manufacturing sector will contract to 50.7 vs. 51.1 in September, while the preliminary reading of the Services PMI may show a widening of its value. 51.0 versus 50.9 in September.

The release of the US housing market data with the release of the new home sales index, which may reflect a decline of 0.4% to 710 thousand versus 7.1% rise at 713 thousand in August, comes before we see the US Treasury unveiled the federal budget reading which It could show a surplus of $ 83.5 billion versus a $ 200.3 billion deficit in August.

Technical Analysis

The USDJPY has not settled long below 108.40, trading positively and ending yesterday's trading above it, regaining its bullish correction that is organized inside the ascending channel shown in the picture, waiting for further rise today.

Our next positive target is at 109.33, and a breach will extend the bullish wave to 110.50, while the expected rise will remain valid unless 108.40 is breached and stability remains intact with a daily closing below it.

Expected trading range for today is between 108.00 support and 109.40 resistance.

Expected trend for today: Bullish.

Gold futures fluctuated in a narrow, bullish range during the Asian session amid the decline of the US dollar index for the 13th session in 18 sessions from the highest since May 12, 2017 according to the inverse relationship between them on the eve of developments and economic data expected on Thursday By the Eurozone economies and the US largest economy in the world, which includes the ECB meeting and the recent press conference of the ECB Governor Mario Draghi before the end of the term by the end of this month.

At 03:32 am GMT, gold prices fell 0.03% to trade at $ 1,490.60 an ounce compared to the opening at $ 1,491.46 an ounce, with the US dollar index down 0.02% to 97.44 compared to the opening at 97.46.

Markets are looking ahead to the Spanish economy's Unemployment Rate reading, which could show a drop to 13.8% vs. 14.0% in the second quarter, before the French, German and regional economies see the preliminary Markit PMI reading. Industrial and services for the month which may reflect the shrinking service sector and the expansion of industrial in France, the shrinking service sector and the contraction of the industrial sector in Germany and the economies of the region as a whole.

This comes as global markets are eyeing the outcome of the ECB meeting which may keep ECB monetary policy makers at zero interest rates and maintain a marginal lending rate of 0.25% while keeping the deposit rate negative. This was followed by a reduction in the previous meeting with the announcement of new expansionary measures by next month.

Investors are also awaiting the ECB Governor Mario Draghi's press conference after the ECB meeting, his last press conference before his term expires at the end of this month and his succession to the post of former IMF President Christine Lagarde early next month and before reactivating the QE by 20. € 1 billion per month in November and the program continues as long as necessary.

On the other hand, investors are currently awaiting the US economy to release the Durable Goods Orders, which accounts for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect a 0.5% decline versus a 0.2% rise in August. In the past, the core reading of the index itself may show a 0.2% decline versus a 0.5% rise in August.

This comes in conjunction with the release of the index of claims for the last week on the 19th of this month, which may reflect an increase of two thousand applications to 216 thousand applications compared to 214 thousand applications in the previous weekly reading, while the reading of the claims application index may show investors for the past week on 12 of this The month decreased by 4 thousand applications to 1,675 thousand applications compared to 1,679 thousand applications.

Markets are also looking to reveal the preliminary reading of the US Manufacturing and Services PMI, amid expectations that the manufacturing sector will contract to 50.7 vs. 51.1 in September, while the preliminary reading of the Services PMI may show a widening of its value. 51.0 versus 50.9 in September.

The release of the US housing market data with the release of the new home sales index, which may reflect a decline of 0.4% to 710 thousand versus 7.1% rise at 713 thousand in August, comes before we see the US Treasury unveiled the federal budget reading which It could show a surplus of $ 83.5 billion versus a $ 200.3 billion deficit in August.

On Wednesday, the Chinese State Council expressed Beijing's determination to increase imports of US agricultural goods and products and keep the RMB exchange rate within a stable range and that Asia's largest and second largest economies after the United States will continue to support the stability of foreign investment and trade. This came hours before US Vice President Mike Pines made a speech in China on Thursday.

Earlier this week, US President Donald Trump said he hoped to sign a trade agreement with his Chinese counterpart Xi Jinping at the Asia-Pacific Economic Cooperation (APEC) summit in mid-April in Chile. Work to complete the partial trade agreement between Washington and Beijing, adding that China is currently buying American agricultural products.

Meanwhile, White House economic adviser Larry Kudlow said Monday that tariffs on Chinese goods could be abolished if the first phase of trade talks between Washington and Beijing is completed well, saying things look good and negotiations between the two sides are good. They still exist, adding that human rights are among the important files in the negotiations between America and China.

Chinese Vice Premier Liu Hu said Saturday that the United States and China have made "significant progress" in trade talks, following a partial trade agreement earlier this month, adding that both Washington and Beijing are working Signing a written agreement between them as a basis for resolving the existing trade disputes between the two parties.

Technical Analysis

The price of gold continues to fluctuate around SMA 50, and remains within the bearish corrective channel shown in the picture, noting that the stochastic is providing negative signals on the four-hour time frame.

Therefore, these factors encourage us to continue to favor the bearish trend over the coming period, whose targets start by breaking 1485.00 to confirm opening the way towards 1447.00 as the next main station, while stability below 1500.50 is an important condition to achieve.

Expected trading range for today is between 1475.00 support and 1500.00 resistance.

Expected trend for today: Bearish.