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Google is returning to try to enter the ascending channel, which has been moving two weeks ago after falling to the support level of 1174.84 at the retracement of the 38.2% Fibonacci level.

The price is moving above the 7-50 moving averages that form support levels while the 20 moving average forms resistance.

Stochastic is in a bullish move after it has been able to exit the oversold area, thus increasing the pressure on the price to enter the channel.

The general direction of movement is: Bullish

Gold futures fluctuated in a narrow range, tilted lower during the Asian session, ignoring the decline of the dollar index for the seventh session in eleven sessions from the highest since May 12, 2017 according to the inverse relationship between them after the developments and economic data that followed on Tuesday China's economy is the world's largest consumer of metals and is looking forward to the outcome of the FOMC speech.

Gold futures for December delivery fell 0.04% to trade at $ 1,491.50 an ounce compared to the opening at $ 1,492.32 an ounce, while the US dollar index fell 0.05% to 98.40 compared to the opening at 98.45.

The Reserve Bank of Australia unveiled the minutes of its meeting in early October, during which the RBA monetary policy makers decided to resume short-term interest rates by 25 basis points to an all-time low of 0.75%. Following its confirmation at the previous meeting of that meeting and following a 25 basis point reduction twice earlier this year.

We would like to point out that the RBA monetary policy makers expressed through the minutes that they are prepared to relax monetary policy more broadly if they are prepared to support growth and employment rates, and that it makes sense to expect them to need an extended period of low interest rates, amid reports that they have noticed To cut interest rates globally, explaining that they discussed the chances that the rate cut might have less impact than it was before.

Monetary policy makers also noted through the minutes that the purpose of the rate cut at a meeting earlier this month is to strengthen the starting point of the economy, explaining that the recent economic data revealed that the balance was on the softer side, with the statement that they discussed the issue of staying on Interest rates are low in emergencies and low interest rates are best to minimize the effects of any adverse shock.

This came before the Bank of Japan Governor Haruhiko Kuroda expressed the fact 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%. Long and long term at very low levels for an extended period, adding at least until the spring of 2020.

China's inflation data showed a mixed performance in September with the annual CPI reading accelerating to 3.0% vs. 2.8% in August, beating expectations of 2.9%, while the annualized CPI reading Producers, which is a preliminary indicator of inflationary pressures, deflation widened to 1.2% in line with expectations against 1.2% in August.

On Monday, US Treasury Secretary Stephen Mnuchen told CNN-C that US and China made "significant progress" last week 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 will finalize the agreement at a summit in Chile next month.

This came after President Trump announced that the US and China agreed on the outlines 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 of the decision to raise tariffs and the commitment to expand the purchase of agricultural products were not mentioned.

On the other hand, we also followed last weekend's remarks by British Prime Minister Boris Johnson that despite the fact that no agreement has yet been reached between Britain and the European Union, it is moving forward towards an agreement on an orderly exit from Britain. The EU is on schedule by this month, saying that an agreement with Brussels would be beneficial not only to his country but to all parties in Europe.

The comments came hours after British Prime Minister Johnson and Irish leader Leo Faradkar confirmed the possibility of reaching an exit deal following talks on Thursday, boosting market hopes for eventual access. Last Sunday, more work was needed to secure an agreement on an orderly Brexit.

Technical Analysis

Gold is testing the 50 SMA, which is a minor resistance at 1497.00, and remains confined between the pivotal levels of 1485.00 support and 1512.00 resistance.

Recall that breaking the mentioned support will put the price under strong negative pressure starting at 1447.00 and extending to 1413.10, while breaching the resistance will lead the price to regain the main bullish trend, where the first target is at 1555.00.

Expected trading range for today is between 1475.00 support and 1515.00 resistance

Expected trend for today: Neutral

The single currency of the European Union fluctuated in a narrow range upward during the Asian session to witness the bounce for the eighth session in eleven sessions of the lowest since May 12 of 2017 against the US dollar on the eve of developments and economic data expected on Tuesday by the economies of the region The Euro and the upcoming speech of the members of the Federal Open Market Committee.

At 06:02 AM GMT the EURUSD rose 0.06% to 1.1033 levels compared to the opening at 1.1027, after the pair reached its highest level during the session at 1.1035, while the pair achieved the lowest at 1.1022.

Markets for the euro zone's second largest economy, France, are awaiting the final CPI reading, which could reflect a stable contraction of 0.3%, unchanged from the prior September reading and a 0.5% growth in August, before a statistical reading was released. The ZEW economic sentiment index for both Germany and the Eurozone economies as a whole may reflect the widening contraction in Germany and the region as a whole to 27.0 and 26.7 versus 22.5 and 22.4 respectively in September.

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

The EURUSD has been trading around the 1.1030 level since yesterday, holding steady above the breached resistance of the descending channel, while the Stochastic is approaching a positive indication over the four-hour time frame.

Therefore, the bullish scenario will remain valid for the coming period, based on stability above 1.0985, noting that we are waiting to visit 1.1180 as the next major stop.

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 bounce for the sixth session in ten sessions from the lowest since March 18, 2009 against the US dollar following the release of the minutes of the Reserve Bank of Australia meeting and on the threshold of the expected speech later today Tuesday for members of the Federal Open Market Committee.

At 02:24 AM GMT, the AUDUSD rose 0.15% to 0.6785 levels, compared to the opening levels of 0.6775, after the pair reached its highest level during the session at 0.6789, while the lowest level at 0.6765.

The Reserve Bank of Australia (RBA) unveiled the minutes of its meeting in early October, during which RBA monetary policy makers decided to resume short-term interest rates by 25 basis points to an all-time low of 0.75%. Following its confirmation at the previous meeting of that meeting and following a reduction of 25 basis points twice earlier this year.

We would like to point out that the RBA monetary policy makers expressed through the minutes that they are prepared to relax monetary policy more broadly if they are prepared to support growth and employment rates, and that it makes sense to expect them to need an extended period of low interest rates, amid reports that they have noticed To cut interest rates globally, explaining that they discussed the chances that the rate cut might have less impact than it was before.

Monetary policy makers also noted through the minutes that the purpose of the rate cut at a meeting earlier this month is to strengthen the starting point of the economy, explaining that the recent economic data revealed that the balance was on the softer side, with the statement that they discussed the issue of staying on Interest rates are low in emergencies and low interest rates are best to minimize the effects of any adverse shock.

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. Bullard concludes the title of 'Federal Reserve Monetary Policy Option' at the 2019 Monetary and Financial Policy Conference in London.

Technical Analysis

AUDUSD is fluctuating near SMA 50 and remains below it, while the Stochastic is floating in overbought areas, therefore, our bearish outlook will remain valid for the coming period, based on stability below 0.6825, noting that we are waiting to visit our levels. 0.6700 and then 0.6595 as the next major targets.

Expected trading range for today is between 0.6700 support and 0.6830 resistance

Expected trend for today: Bearish

Sber Bank  Stock  rebounded after reaching support at 222.82 which is near the 50% Fibonacci retracement..

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

The price action is moving above the 20-50-7 moving averages which are forming support levels.

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

The expected movement between 222.82 support and 235.96 resistance.

Overall trend: Bullish.

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 its highest since late May last against the Japanese yen amid the lack of economic data earlier this week about the Japanese economy Because of the holiday of health and sports there and the US economy also on Monday because of the holiday of Columbus.

At 06:22 AM GMT, the USDJPY fell 0.01% to 108.27 levels compared to opening levels at 108.28, after the pair reached its lowest level during the session at 108.20, while reaching the highest at 108.52.

Last Friday, Bank of Japan Governor Haruhiko Kuroda said that the Bank of Japan has many tools to enhance monetary easing in the country, noting that the Bank of Japan's policies should not be judged by looking at short-term policies only. More flexible than the Fed or the European Central Bank and it has a wide scope to move and strengthen monetary policy.

On the other hand, we also followed last Friday's announcement by the Federal Reserve of its plans to start buying Treasury bills for the United States of $ 60 billion per month by the beginning of this week and until the second quarter of 2020, following the recent intervention of the Federal Reserve to control On repo rates and pumping liquidity into the markets to keep federal funds rates overnight.

Technical Analysis

USDJPY is testing the 50% Fibonacci retracement level, which is an important resistance at 108.40, showing some slight bearish bias affected by stochastic negativity, while SMA 50 continues to provide positive support for the price.

Therefore, we believe that chances are available for resuming the upside move in the coming sessions, targeting 109.33 as the next major stop, while achieving it requires stability above 107.45.

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

Expected trend for today: Bullish.

Gold futures fluctuated in a narrow range tilted lower during the Asian session amid the rise of the US dollar index according to their inverse relationship following the developments and economic data that followed on Monday on the Chinese economy, the largest consumer of metals in the world and amid the lack of economic data by the US earlier this week because of Columbus Day Holiday Following developments in trade talks between Washington and Beijing.

At 04:32 am GMT gold futures for December delivery fell 0.11% to trade at $ 1487.19 an ounce compared with the opening at $ 1486.45 an ounce, with the US dollar index rose 0.02% to 98.38 compared to the opening at 98.36.

The trade balance reading showed that the surplus widened to 275 billion yuan ($ 39.7 billion) from 240 billion yuan ($ 34.8 billion) in August, beating expectations for a widening surplus. To 254 billion yuan ($ 34.8 billion), export and import deceleration slowed more than expected last month.

Otherwise, the US president said that the US and China agreed on the outline of a deal that could be signed early next month, which boosted market hopes about the chances of Washington and Beijing avoiding an escalation of their trade war. The widening surplus also contributed to China's trade balance. Stimulate risk appetite for investors to weigh heavily on the performance of gold prices, which is a safe haven and alternative investment.

Last week's high-level trade talks between the United States, the world's largest economy, and China, the world's second-largest economy, resulted in a "Phase I" trade agreement as part of a much-anticipated expanded trade agreement. Tariffs on Chinese goods worth 250 billion to 30 percent from 25 percent by October 15.

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 of the decision to raise tariffs and the commitment to expand the purchase of agricultural products were not mentioned.

On the other hand, we also followed last weekend's remarks by British Prime Minister Boris Johnson that despite the fact that no agreement has yet been reached between Britain and the European Union, it is moving forward towards an agreement on an orderly exit from Britain. The EU is on schedule by this month, saying that an agreement with Brussels would be beneficial not only to his country but to all parties in Europe.

The comments came hours after British Prime Minister Johnson and Irish leader Leo Faradkar confirmed the possibility of reaching an exit deal following talks on Thursday, boosting market hopes for eventual access. Yesterday more work was needed to secure an agreement on an orderly Brexit.

Technical Analysis

Gold attempted to break the 1485.00 level but was unable to close the daily candle below it, stuck between the trend confirmation levels of the aforementioned support and resistance now falling to 1515.00, thus we continue to remain neutral until the price succeeds in confirming the breach of one of these levels.

The breach of the mentioned support will put the price under additional negative corrective pressure reaching the next targets at 1447.00 then 1413.10, while breaching the resistance will lead the price to regain the main bullish trend again, whose targets start with testing 1555.00.

Expected trading range for today is between 1470.00 support and 1505.00 resistance.

Expected trend for today: Neutral.

The single currency of the European Union fluctuated in a narrow range tilted to decline during the Asian session to witness a rebound for the second session from the highest since September 20 last against the US dollar on the eve of developments and economic data expected on Monday by euro-zone economies and amid the lack of economic data from The US economy was accepted earlier this week due to the Columbus Day holiday in the United States.

At 05:40 am GMT, the euro fell against the US dollar by 0.13% to 1.1030 levels compared to the opening at 1.1044, after the pair reached its lowest level during the session at 1.1024, while achieving the highest at 1.1051, knowing that the pair The session started at a bullish gap after it closed last week at 1.1042 levels.

Markets are looking ahead to the euro zone's largest economy, Germany's wholesale inventory reading, which may reflect a contraction in the decline to 0.2% from 0.8% in August, before the Eurozone economies as a whole witness the release of the seasonally adjusted industrial production index. A 0.3% rise versus a 0.4% decline in July could be seen, and the annualized reading of the same index may show a decline to 2.5% versus 2.0%.

Technical Analysis

EURUSD is showing some slight bearish bias on its way to retest the breached resistance of the bearish channel shown in the picture, which is now turning into important support at 1.0990, and we note that SMA 50 meets this support to add more strength to it, to keep positive expectations for the period. Next, mainly waiting for the 1.1180 level.

Therefore, the bullish scenario remains likely provided that the price holds above 1.0990.

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

Expected trend for today: Bullish.

AUDUSD is reaching the resistance of the descending channel shown, waiting for a bounce back to resume trading within this channel, where the SMA constitutes 50 negative pressure to support the continuation of the main bearish trend, while Stochastic is showing overbought now.

Therefore, we believe that chances are available for negative trading during the coming sessions, noting that the next main target is 0.6595, while stability below 0.6825 is an important condition to achieve.

Expected trading range for today is between 0.6700 support and 0.6830 resistance

Expected trend for today: Bearish

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.