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AUDUSD holds steady above the resistance of the breached descending channel (red dotted), and starts today with a fresh bullish slope on its way to continue the expected rally for the coming period, keeping the bullish correction scenario intact over intraday and short term, targeting 0.7015 as the first stop.

Therefore, we will continue to favor the bullishness for today unless it breaks the 0.6800 level and holds below it.

Expected trading range for today is between 0.6820 support and 0.6920 resistance.

Expected trend for today: Bullish.

The single currency of the European Union fluctuated in a narrow, bullish range during the Asian session to witness the rebound of the twelfth session in the fifteenth lowest since May 12, 2017 against the US dollar on the eve of developments and economic data expected on Monday by the largest economies Eurozone Germany and amid tight economic data earlier this week by the US economy.

At 05:01 am GMT, the euro against the US dollar rose 0.11% to 1.1158 levels compared to the opening at 1.1146, after the pair reached its highest level during the session at 1.1165, while the pair achieved the lowest at 1.1137, knowing that The pair started the session on a bearish price gap after it ended last week's trading at 1.1167.

Markets are now looking to Germany to reveal the PPI reading, which is a preliminary indicator of inflationary pressures that may reflect a contraction in contraction to 0.1% vs. 0.5% in August, while the annual reading of the index itself may show a contraction of 0.2% vs. 0.3% growth. In the annual reading prior to August, comes before we see the release of the monthly report of the Bundesbank

On the other hand, over the weekend we followed the British parliament's vote to postpone the vote on the agreement reached by the British Prime Minister Boris Johnson with the European Union for the orderly exit of the United Kingdom and the postponement of the vote to a "meaningful vote" on the exit deal, which forced the The British prime minister is demanding that Brussels extend the pre-set exit deadline by the end of this month.

EU leaders do not necessarily have to accept an extension of the Brexit deadline again, while the chances of the kingdom leaving the EU by October 31 without a deal have diminished, with growing chances of delaying Brexit. Beyond the end of this month, or the British parliament's ratification of the British government's agreement with Brussels for an orderly exit later this week.

Technical Analysis

EUR / USD stabilizes around 1.1160 after reaching a few pips from our awaited target of 1.1180, and some bearish bias may be seen with stochastic negativity, while SMA 50 continues to support the price from below.

Therefore, we will maintain our bullish expectations for the coming period, and the price needs to breach the 1.1180 level to confirm the extension of the bullish wave towards 1.1280, taking into consideration that the continuation of the suggested bullish trend requires stability above 1.1060.

Expected trading range for today is between 1.1080 support and 1.1260 resistance.

Expected trend for today: Bullish.

Gold futures fluctuated in a narrow range, tilted lower during the Asian session, shrugging off the decline of the US dollar index for the eleventh session in fourteen sessions from the highest since May 12, 2017 according to the inverse relationship between the lack of economic data on Monday from The US economy has accepted the largest economy in the world and following the developments of the Brexit file and the remarks of Chinese Vice Premier Liu Ho.

At 03:47 am GMT gold futures for December delivery fell 0.14% to trade at $ 1,491.40 an ounce, compared with the opening at $ 1,491.68 an ounce. The dollar index shed 0.01% to 97.33 compared to the opening at 97.34.

Over the weekend, the British Parliament voted to postpone the vote on the agreement reached by Prime Minister Boris Johnson with the European Union for the orderly exit of the country and the postponement of the vote to a "meaningful vote" on the exit deal, which forced the British Prime Minister to Demand Brussels to extend the deadline for the exit scheduled before the end of this month.

EU leaders do not necessarily have to accept the extension of the Brexit deadline again. In the same vein, markets are looking forward later this week for the British government to submit a final Brexit bill in its efforts to pass its agreement. The latter with Brussels in the British parliament amid the aspiration for the outcome of the vote of British lawmakers on the bill.

Otherwise, Chinese Vice Premier Liu Hu said 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 They are working to sign a written agreement between them as a cornerstone towards resolving trade disputes between the two largest economies in the world.

Technical Analysis

Gold is showing sideways and narrow range trading to fluctuate around SMA 50, and remains within the descending channel shown on the chart above, while the stochastic is gradually losing momentum.

Thereby, we will hold onto our bearish outlook unless 1505.00 is breached and hold above it, noting that a breach of 1485.00 is required to confirm resuming the bearishness with the next main target at 1447.00.

Expected trading range for today is between 1470.00 support and 1505.00 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 third 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 on Monday on the Japanese economy Amid the dearth of economic data earlier this week by the US economy.

At 06:55 am GMT, the US dollar against the Japanese yen fell by 0.01% to 108.47 levels compared to the opening levels at 108.48, after the pair reached its lowest level during the trading session at 108.29, while the highest level at 108.55, knowing The pair started the session on a bullish price gap after the pair concluded last week's trading at 108.45.

This was followed by the release of the Trade Balance Index which showed the deficit narrowed to 123 billion yen from 144 billion yen in August, contrary to expectations for a surplus of 54 billion yen. The figure was 97 billion yen from 117 billion yen in August, contrary to expectations for a widening deficit of 178 billion yen.

This came with the annual reading of exports decreased to 5.2% vs. 8.2%, below expectations for a decline of 3.6%, also showed the annual reading of imports reduced the decline to 1.5% vs. 11.9%, beating expectations for a decline of 2.8%, came before The overall manufacturing activity index showed steady at zero against 0.2% in July, below expectations for a 0.1% rise.

Technical Analysis

USD / JPY continues to fluctuate at the 108.40 level and hold steady above it, and the price gets sustained support from SMA 50, in conjunction with stochastic entering oversold areas.

Therefore, these factors encourage us to continue to favor the bullish trend for the coming period, whose next target is located at 109.33, recalling the importance of stability above 108.40 to achieve it.

Expected trading range for today is between 108.00 support and 109.33 resistance.

Expected trend for today: Bullish.

The Shares of Sber Bank had reached the resistance 235.96 with closing last week after it reached 222.82 support previously bounced off which is near 50% Fibonacci retracement.

The price is moving upwards after it has breached all the moving averages.

The price is moving above the 20-50-7 moving averages, which have become bullish below the price and form support levels.

The Stochastic is moving sideways within the overbought zone which will push the price higher further.

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 movement is upward. An H2 level downward pattern is turncated. An intermediate round level of 1.6250 holds back sellers. Also, a bullish divergence has formed on Awesome Oscillator indicator, and Stochastic Oscillator showed an exit from the oversold zone. The completion of the downward pattern of the H2 level will provode an opportunity for the continuation of the bullish trend.

Trading recommendations:

Buy strictly while an ascending wave pattern is forming, where wave A breaks through the inclined channel of the descending H2 level pattern.

Stop Loss – 1.6250 or under the local minimum.

Target levels – 1.6366; 1.6430.

The pair is trading above the level of 0.6860. It still has the potential for a local growth to 0.6895. From a technical point of view, the pair continues to form a double bottom reversal pattern. But due to being locally overbought, it is possible to buy it as it corrects downwards.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought zone and rising. Stoch are in the overbought zone and trying to reverse downwards.

Trading recommendations:

If the pair does not hold above the level of 0.6860, it may correct to 0.6835, which will be 23% of the Fibonacci Retracement. Buy the pair from this level.

The downward corrective movement reached the pivot zone 414.00. The stock is trading in an internal downward price channel. Stochastic Oscillator indicator shows oversoldness. The formation of an upward 123 pattern and break through the upper boundary of the downward price channel will provide the opportunity for further growth of the stock.

Trading recommendations:

Buy as an upward pattern 123 is forming, strictly above the downward price channel.

Stop Loss under the level of 414.0 or under the local minimum.

Target levels – 418.24; 421.80. 

The US dollar fluctuated in a narrow range, tilted lower during the Asian session to witness a rebound for the second consecutive session from the highest since early August, when it tested late May against the Japanese yen following the developments and economic data that followed from the Japanese economy and on the eve of developments and economic data Expected on Friday by the US economy which includes the speech of members of the Federal Open Market Committee.

At 06:04 AM GMT, the USDJPY fell 0.10% to 108.55 levels compared to the opening levels of 108.66, after the pair reached its lowest level during the session at 108.52, while the highest level at 108.69.

This was followed by the release of inflation data with the release of the annual CPI reading which showed growth slowed to 0.2% in line with expectations against 0.3% in August. The annual reading of the same index excluding fresh food showed that growth slowed to 0.3 The annualized reading of the same index, excluding energy and fresh food, also slowed growth to 0.5%, in line with expectations against 0.6%.

On the other hand, investors are currently awaiting the release of leading indicators which may show a 0.1% growth against the zero level in August. This comes in conjunction with FOMC and Kansas City Fed Chairman Esther. George at the Energy and Economics Conference hosted by the Denver Branch of the Kansas City Fed.

The Federal Open Market Committee (FOMC) and Deputy Governor of the Federal Reserve Richard Clarda talked about the economic expectations and monetary policy at the Chartered Income Management Conference on Financial Stability. Because these meetings are open to the press.

Technical Analysis

USDJPY has tested 108.40 and holds above it so far, as SMA 50 meets this support to add more strength to it, while Stochastic is now oversold.

Therefore, we believe that the chances are for the bullishness in the coming sessions, the next target is at 109.33, while achieving it requires stability above 108.40.

Expected trading range for today is between 108.00 support and 109.33 resistance.

Expected trend for today: Bullish.