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Gold futures fluctuated in a narrow range upward during the Asian session amid the negative stability of the US dollar index, indicating its rebound for the eighth session in the twelve sessions from its highest since May 12, 2017 The US economy is the largest economy in the world, which includes members of the Federal Open Market Committee.

At 04:34 am GMT gold prices fell 0.20% to trade at $ 1,497.50 an ounce compared with the opening at $ 1,481.04 an ounce, amid the US dollar index fell 0.01% to 98.30 compared to the opening at 98.31.

Investors in the US economy are looking to unveil retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect a slowing pace of growth to 0.3% from 0.4% last August. The core index itself grew 0.2% against steady at zero levels in August.

This comes before we see the FOMC and Chicago Fed Governor Charles Evans talk about the current economic conditions and monetary policy at the Greater Peoria Development Board in Illinois, and before the release of the US housing market data with the housing index read by the National Association of Builders. Houses which may reflect stability at 68 during October.

Markets are also looking to the Wholesale Inventories figure, which may show a slowdown in growth to 0.3% from 0.4% in July, before we see the release of the Beige Book report, which is important two weeks before the FOMC meeting. One of the cornerstones on which the Fed's monetary policy makers build their decisions is to support and stimulate the US economy.

The upcoming FOMC meeting is scheduled to be held in Washington on October 29-30, and investors are also expected to speak later today to FOMC member and Fed Governor Lyle Brainard on developments in the region. Digital currency and policy implications at the event hosted by the Peterson Institute for International Economics in Washington.

On the other hand, given the tensions between the United States and China, we have followed China's threat of retaliation if the US Congress passes a bill providing support for pro-democracy protesters in Hong Kong. The US House of Representatives is considering legislation requiring an annual review of whether the city enjoys independence. Sufficient from Beijing to assess its own trade status under US law.

On Tuesday, the Chinese Foreign Ministry said that the US statement on the partial agreement between the two parties is true and that there is no dispute between Beijing and Washington on reaching a trade agreement between them, and the Chinese media also touched yesterday that the two parties agreed on the need to resolve trade disputes between them. Through negotiations and joint negotiations between the two largest economists in the world.

Earlier this week, US Treasury Secretary Stephen Munchen noted that both China and China had made "significant progress" in the high-level trade negotiations held last Thursday and Friday in Washington, adding that he expected US President Donald Trump and his Chinese counterpart Xi Jinping The agreement will be finalized at a summit in Chile next month, he said, adding that if a partial agreement is not reached in the coming period, tariffs on Chinese goods will be lifted by mid-December.

This came after President Trump announced that the US and China had agreed on the outline of a deal that could be signed early next month. It is noteworthy that the recent trade talks between the two sides resulted in a trade agreement "phase one" as part of an expanded trade agreement. Washington will not do its decision to raise tariffs on Chinese goods worth 250 billion to 30 percent from 25 percent by the middle of this month.

On the other hand, Beijing is expected to make purchases of expanded US agricultural products and take steps to protect intellectual property protection and financial services as well as not weaken the Chinese yuan in order to gain a competitive trade advantage. While the freeze on the decision to raise tariffs and the commitment to expand the purchase of agricultural products were not mentioned at the time.

Otherwise, markets may look closely at developments in the Brexit dossier, particularly following the report, which boosted investor hopes for a draft deal that could reach an orderly Brexit deal by the end of this month, weighing more or less on yesterday's trading. On the performance of gold futures which is a safe haven and alternative to investment.

Technical Analysis

The price of gold broke the 1485.00 level and closed the daily candle below it, to activate the bearish scenario on the intraday and short term, on its way to achieve negative corrective targets starting at 1447.00 and extending to 1413.10.

Therefore, we are waiting for negative trading over the coming sessions supported by SMA 50, taking into consideration that breaching 1485.00 and consolidating above it will stop the negative scenario and may push the price to test 1510.00 zones before determining its next destination more accurately.

Expected trading range for today is between 1465.00 support and 1500.00 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 second session from its highest since early August, when it tested late May against the Japanese yen amid the lack of economic data from the Japanese economy and on the eve of developments and economic data expected on Wednesday The US economy is the largest in the world, including the FOMC members' speech.

At 06:02 AM GMT, the US dollar against the Japanese yen fell by 0.17% to 108.68 levels compared to the opening levels at 108.86, after the pair reached its lowest level during the trading session at 108.60, while the highest level at 108.87.

Investors in the US economy are awaiting the release of retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect a slowing pace of growth to 0.3% from 0.4% last August. The core of the index itself grew 0.2% against steady at zero levels in August.

This comes before we see the FOMC and Chicago Fed Governor Charles Evans talk about the current economic conditions and monetary policy at the Greater Peoria Development Board in Illinois, and before the release of the US housing market data with the housing index read by the National Association of Builders. Houses which may reflect stability at 68 during October.

Markets are also looking to the Wholesale Inventories figure, which may show a slowdown in growth to 0.3% from 0.4% in July, before we see the release of the Beige Book report, which is important two weeks before the FOMC meeting. One of the cornerstones on which the Fed's monetary policy makers build their decisions is to support and stimulate the US economy.

The upcoming FOMC meeting is scheduled to be held in Washington on October 29-30. Investors are also looking ahead to FOMC and Fed Governor Lyle Brainard's speech later today. Digital currency and policy implications at the event hosted by the Peterson Institute for International Economics in Washington.

Technical Analysis

USD / JPY managed to breach the 108.40 level and close the daily candle above it, confirming the extension of the bullish wave to target 109.33 as the next major stop, organized inside the ascending channel shown in the chart above.

Therefore, we are waiting for further rallies in the coming sessions, keeping in mind that a break of 108.40 could push the price to test 107.45 areas again before any new attempt to rise.

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

Expected trend for today: Bullish.

The single currency of the European Union fluctuated in a narrow range tilted to decline during the Asian session to witness the rebound for the second session in four sessions from the highest since September 20 last against the US dollar on the eve of developments and economic data expected on Wednesday by the euro zone economies and the US economy The largest economy in the world.

At 05:18 am GMT, EUR / USD fell 0.01% to 1.1032 levels from the opening at 1.1033, after the pair reached a session low of 1.1024, while the pair reached its highest at 1.1036.

Markets in the Euro-Zone economy as a whole are looking for the release of the final annual CPI reading which could reflect a stable growth of 0.9%, little changed from the initial reading for September and 0.7% in the prior reading of August. Also, the core annual reading of the index itself may also show a stable growth of 1.0%, little changed from the previous initial reading of 0.9%.

This comes in conjunction with the release of the seasonally adjusted reading of the Trade Balance Index for the euro area as a whole, which may show that the surplus shrank to 18.6 billion euros from 19.0 billion euros last July, and up to the speech of the Bundesbank Governor Jane Weidmann in New York. , The markets are also looking forward to the developments of the negotiations on the Brexit file amid hopes of an agreement.

On the other hand, investors are awaiting the US economy to reveal the retail sales reading, which accounts for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect a slower pace of growth to 0.3% from 0.4% last August. The core reading of the index itself may show 0.2% growth versus the August zero level.

This comes before we see the FOMC and Chicago Fed Governor Charles Evans talk about the current economic conditions and monetary policy at the Greater Peoria Development Board in Illinois, and before the release of the US housing market data with the housing index read by the National Association of Builders. Houses which may reflect stability at 68 during October.

Markets are also looking to the Wholesale Inventories figure, which may show a slowdown in growth to 0.3% from 0.4% in July, before we see the release of the Beige Book report, which is important two weeks before the FOMC meeting. One of the cornerstones on which the Fed's monetary policy makers build their decisions is to support and stimulate the US economy.

The upcoming FOMC meeting is scheduled to be held in Washington on October 29-30. Investors are also looking ahead to FOMC and Fed Governor Lyle Brainard's speech later today. Digital currency and policy implications at the event hosted by the Peterson Institute for International Economics in Washington.

Technical Analysis

EUR / USD is back to fluctuate around the 1.1030 level after yesterday's decline, moving above the bullish intraday trend line shown, while SMA 50 continues to provide positive support for the price.

Therefore, our bullish outlook will remain intact for the coming period, targeting mainly 1.1180, taking into consideration that the breach of 1.0980 will stop the expected rally and press the price to return to the bearish main path again.

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

Expected trend for today: Bullish.

The Australian dollar fluctuated in a narrow uptrend range during the Asian session to witness the rebound for the seventh session in eleven sessions from the lowest since March 18, 2009 against the US dollar after the release of the minutes of the Bank of Australia meeting on Tuesday and on the eve of developments and economic data The US economy, the largest in the world, is scheduled to be released on Wednesday.

At 02:24 AM GMT, the AUDUSD fell 0.15% to 0.6740 levels, compared to the opening levels of 0.6750, after the pair reached its highest level during the session at 0.6754, while the lowest level at 0.6725.

Investors in the US economy are awaiting the release of retail sales, which account for about half of consumer spending, which accounts for more than two-thirds of US GDP, which may reflect a slowing pace of growth to 0.3% from 0.4% last August. The core of the index itself grew 0.2% against steady at zero levels in August.

This comes before we see the FOMC and Chicago Fed Governor Charles Evans talk about the current economic conditions and monetary policy at the Greater Peoria Development Board in Illinois, and before the release of the US housing market data with the housing index read by the National Association of Builders. Houses which may reflect stability at 68 during October.

Markets are also looking to the Wholesale Inventories figure, which may show a slowdown in growth to 0.3% from 0.4% in July, before we see the release of the Beige Book report, which is important two weeks before the FOMC meeting. One of the cornerstones on which the Fed's monetary policy makers build their decisions is to support and stimulate the US economy.

The upcoming FOMC meeting is scheduled to be held in Washington on October 29-30. Investors are also looking ahead to FOMC and Fed Governor Lyle Brainard's speech later today. Digital currency and policy implications at the event hosted by the Peterson Institute for International Economics in Washington.

Technical Analysis

AUDUSD is resuming its negative trading significantly to approach the first target at 0.6700, reinforcing expectations for the continuation of the bearish trend over the intraday and short term, which is regulated within the main descending channel, noting that exceeding the mentioned level will extend the bearish wave to reach 0.6595, while The expected decline will remain intact unless 0.6820 is breached and stabilized above it.

Expected trading range for today is between 0.6670 support and 0.6770 resistance.

Expected trend for today: Bearish.

Aeroflot shares rebounded after testing 99.07 support again and failed to break it for the second time. Where it broke through the moving average 20 and heading to the moving average 50.

The price is moving under the positive effect of the 7-20 MAs that form support levels.

Stochastic is on an uptrend and is approaching overbought area which affects the price action and pushes it to test the resistance of 140.60 then 105.60.

Expected trend for today: Bullish.

The support level of 1680 held back sellers. Breaking through the pivot zone 1746 will result in the formation of an upward pattern 123. A bullish divergence has formed on Awesome Oscillator indicator, and Stochastic Oscillator indicator shows an exit from the oversold zone. 

Trading recommendations:
Buy Above 1746.0.
Stop Loss – 1680.0.
Target levels – 1833.0; 2000.0.

The currency pair is trading in the range of 365 and 135 moving averages. Stochastic Oscillator indicator showed an exit from the overbought zone and is directed downwards. Breaking through the support level 0.6270 will result in the formation of a descending structure of the M15 level within the descending wave from the H2 level.

Trading recommendations:

Sell Below 0.6270.

Stop Loss –  0.6300.

Target levels –  0.6250; 0.6200.

The pair is trading above 1.1000 as investors wait for the resolution of Brexit, while the US-China trade talks continue to progress.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the level of 50% and begins to test this mark. Stoch are below the 50% level and declining.

Trading recommendations:

A break below the level of 1.0000 will cause a local drop to 1.0950.

When buying an option against the trend, it is necessary to confirm other instruments of technical analysis - the presence of divergence, candlestick reversal patterns. Buying against the trend on a strictly retest level! 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, bearish range during the Asian session against the Japanese yen following the developments and economic data that followed on Tuesday on the Japanese economy, which included the speech of Bank of Japan Governor Haruhiko Kuroda and on the eve of the upcoming speech of members of the Federal Open Market Committee.

At 06:29 AM GMT, the USDJPY fell 0.06% to 108.34 levels from the opening levels of 108.34, after hitting a session low of 108.28, while hitting a high of 108.45.

Arab Bank of Japan Governor Haruhiko Kuroda said that inflationary pressures are hovering around 0.5% and that the Bank of Japan will continue to expand its monetary base until inflation steadily exceeds the inflation target of 2%. Futures are at very low levels for an extended period, adding at least until the spring of 2020.

This came before the third largest industrialized country in the world witnessed the release of the industrial sector data with the release of the Terrater Industrial Index which showed growth accelerated to 0.4% vs. 0.1% in July, below expectations of 0.6%, in conjunction with the release of The final reading of industrial production, which showed a steady decline of 1.2%, little changed from the previous initial reading for August, in line with expectations, and against a rise of 1.3% in July.

On the other hand, investors await the FOMC members, Kansas City Federal Reserve Chairman Esther George, who will talk about US payment systems at the event hosted by the Federal Reserve Bank of Chicago, before witnessing the dumping of St. Louis Fed President James. `` Federal Reserve Monetary Policy Option '' at the 2019 Monetary and Financial Policy Conference in London.

Technical Analysis

USDJPY continues to fluctuate around 108.40 without breaching so far, waiting for a positive incentive to confirm the breach and push the pair towards 109.33 which is our next positive target.

In general, we continue to favor the bullishness for the coming period unless the 107.45 level is broken and stability below it, noting that SMA 50 supports the suggested bullish wave.

Expected trading range for today is between 107.60 support and 109.10 resistance

Expected trend for today: Bullish