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Analysis based on round-number levels, price channels and modified Elliot Waves

The overall movement is upward. The pair is trading in the range of 365 and 150 moving averages. Bullish divergence has formed on Awesome Oscillator indicator, and the Stochastic Oscillator indicator shows an exit from the oversold zone. Breaking through the resistance level 9.8170 will result the formation of an upward structure of an M15 level within the overall upward trend.

Trading recommendations:

Buy above 9.8170.

Stop loss – 9.7830.

Target levels – 9.8566; 9.9160; 9.9625.

The pair corrected up to 0.6770 due the partial profit taking. If it holds above this level, it is likely that the pair will resume growth on the recovery of demand for risky assets recovers.

The price is above the middle Bollinger band, below SMA 5 and at SMA 14.RSI is above 50% and declining. Stoch are also declining.

Trading recommendations:

If the pair fixes above 0.6770, it may to further up to 0.6810.

The downward price channel is broken. A bullish divergence has formed on Awesome Oscillator indicator. Stochastic Oscillator indicator has left the oversold zone and its moving averages are directed upwards. The nearest resistance level is 19.47.

Trading recommendations:

Buy above 19.47.

Stop loss – 18.15.

Target levels – 21.00; 23.26.

The Australian dollar rose during the Asian session to witness the bounce for the fifth session in eight sessions from the lowest since March 18, 2009 against the US dollar following the developments and economic data released by the Australian economy on Thursday and on the eve of developments and economic data expected on Friday before The US economy is the largest in the world

At 03:37 am GMT, the Australian dollar against the US dollar rose 0.31% to 0.6779 levels, compared to the opening levels at 0.6759, after the pair achieved the highest during the session at 0.6781, while the lowest level at 0.6752.

Investors are awaiting the US economy, which is expected to show a 0.5% decline versus a rise of 0.2% in August, while the annual reading of the same indicator may show a decline to 2.0% vs. 1.8%, before we see the release of the preliminary reading of the index. The University of Michigan consumer sentiment may reflect an expansion to 90.4 vs. 89.9 last September.

The Federal Open Market Committee (FOMC) and Boston Fed Chairman Eric Rosengren talked about monetary policy and interest rates at the US Economic Challenges in Madison, hours after Fed Governor Jerome Powell said the US economy was doing well. He faces some risks and the Fed's strategy and tools are still very effective.

Technical Analysis

AUDUSD is showing some bullish bias on its way to a possible test of the descending channel resistance which is now falling to 0.6830, and as long as the price is below this resistance, our bearish outlook will remain valid as a breach through this level will lead the price to initiate a bullish corrective wave over the long term. The next major target for the suggested downside wave is at 0.6595.

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

Expected trend for today: Bearish.

Amazon continues to move below the resistance level of 1750.67 after it was able to breach it during the last week, thus confirming the downside path after the stability of trading below the mentioned level. The price approached the next support level of 1665.45

The price is currently moving below the 7-20-50 moving averages which form resistance levels and press it to fall further.

Stochastic is in a bearish path where it formed bearish crosses between its two lines after it was in an uptrend thus it will press the price down and test the support 1665.45.

Expected trend: Bearish.

The US dollar fluctuated in a narrow range upward during the Asian session to witness the bounce for the fourth session in seven sessions from the lowest since September 5 last 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 from Ahead of the US economy the largest in the world.

At 05:59 AM GMT, the US dollar against the Japanese yen rose 0.01% to 107.99 levels compared to the opening levels at 107.98, after the pair reached its highest level since the beginning of October at 108.13, while the lowest level during The session traded at 107.85.

On the Japanese economy, the Bank of Japan's annual bank lending index showed that growth was stable at 2.4%, little changed from the previous August reading, in line with expectations. Japanese ministers said that his government would not hesitate to use fiscal policy if necessary in the shadow of concern about economic risks.

On the other hand, investors are waiting for the US economy to release the import price index, which may show a decline of 0.5% against a rise of 0.2% in August, while the annual reading of the same indicator may show a decline to 2.0% vs. 1.8%, before we see the disclosure The University of Michigan's preliminary reading of consumer sentiment may reflect a widening of 90.4 vs. 89.9 last September.

The Federal Open Market Committee (FOMC) and Boston Fed Chairman Eric Rosengren talked about monetary policy and interest rates at the US Economic Challenges in Madison, hours after Fed Governor Jerome Powell said the US economy was doing well. He faces some risks and the Fed's strategy and tools are still very effective.

Technical Analysis

USDJPY traded positively yesterday to breach the 107.70 level and stabilize above it, stopping the suggested decline in our recent reports and pushing the price to achieve more expected rise in the coming period, as an upward correction of the decline measured from 112.39 to 104.39, and approaching the 50 level Fibonacci retracement which is at 108.40.

Therefore, we expect to see more bullish bias today, and breaching the mentioned correctional level will extend the bullish wave to 109.33 as the next target, while the expected rise will remain valid unless the 107.45 level is broken and stability below it.

Expected trading range for today is between 107.45 support and 108.80 resistance.

Expected trend for today: Bullish.

Gold futures fluctuated in a narrow uptrend range during the Asian session to see the resumption of the rebound from the lowest since August 4 last amid the successive rebound of the US dollar index for the sixth session in nine 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 Friday by the US economy, the largest economy in the world and amid the realities of trade talks between the United States and China in Washington.

At 04:54 AM GMT gold futures for December delivery rose 0.60% to trade at $ 1,499.50 an ounce compared with the opening at $ 1,494.46 an ounce, with the US dollar index down 0.06% to 98.65 compared to the opening at 98.70.

Investors are currently awaiting the US economy, which is expected to show a 0.5% decline versus a 0.2% rise in August, while an annual reading of the same index may show a decline to 2.0% versus 1.8%, before we see the release. The University of Michigan's preliminary index of consumer confidence may reflect an expansion to 90.4 from 89.9 in September.

The Federal Open Market Committee (FOMC) and Boston Fed Chairman Eric Rosengren talked about monetary policy and interest rates at the US Economic Challenges in Madison, hours after Fed Governor Jerome Powell said the US economy was doing well. He faces some risks and the Fed's strategy and tools are still very effective.

In the same context, we followed on Wednesday the disclosure of the minutes of the FOMC meeting held on September 17-18, which touched on the decision to cut interest rates on federal funds for the second time in a row by 25 basis points to between 1.75% and 2.00%. The Fed's forecasts for growth, inflation and unemployment as well as the future of interest rates for the next three years.

On the other hand, investors' attention is focused on the realities of the high-level trade talks between the US and China in Washington, which started yesterday and is completed today in efforts to resolve the trade disputes between the two sides and amid the hopes of the talks that result in a trade truce to prevent the escalation of the war. Business that has passed its first year.

Yesterday, US President Donald Trump said he would meet Friday with China's top commissioner, Vice Premier Liu Hu, allowing cautious optimism in the markets about a deal or truce and the US administration's decision to raise its tariffs on Chinese goods worth $ 250 billion. To 30% from 25% by 15th of this month and impose 15% tariffs on goods worth $ 160 billion on December 15th.

Technical Analysis

Gold is trading below the 1500.00 barrier, and the price is under negative pressure from SMA 50, while Stochastic is showing positive signs that may protect the price from further declines.

Therefore, this inconsistency between technical factors keeps us neutral until we get a clearer signal for the next trend, which we will get by breaching the resistance 1518.00 or breaking the support 1485.00, noting that breaking this support will reactivate the bearish corrective scenario whose next target exists. At 1447.00, while breaching the resistance will lead the price to resume the major uptrend with its next target at 1555.00.

Expected trading range for today is between 1475.00 support and 1520.00 resistance.

Expected trend for today: Neutral.

The single currency of the European Union fluctuated in a narrow and bullish range during the Asian session to witness its seventh rebound in nine sessions from the lowest since May 12, 2017 against the US dollar on the eve of developments and economic data expected on Friday by Germany, the largest economies The euro zone and the US economy are the largest in the world.

At 05:27 AM GMT, the EURUSD rose 0.11% to 1.1017 levels from the opening at 1.1005, the pair's lowest level during the session, while the pair reached its highest at 1.1020.

Germany is awaiting the release of the final consumer price index, which may reflect steady stability at zero levels unchanged from the initial reading for the month of September and against a contraction of 0.2% last August, coinciding with the meetings of the finance ministers of the euro zone Ecofin In Brussels they discuss several financial issues such as the mechanisms of euro support and government funding.

On the other hand, investors are waiting for the US economy to release the import price index, which may show a decline of 0.5% against a rise of 0.2% in August, while the annual reading of the same indicator may show a decline to 2.0% vs. 1.8%, before we see the disclosure The University of Michigan's preliminary reading of consumer sentiment may reflect a widening of 90.4 vs. 89.9 last September.

The Federal Open Market Committee (FOMC) and Boston Fed Chairman Eric Rosengren talked about monetary policy and interest rates at the US Economic Challenges in Madison, hours after Fed Governor Jerome Powell said the US economy was doing well. He faces some risks and the Fed's strategy and tools are still very effective.

Technical Analysis

EURUSD ended yesterday's trading above the descending channel resistance, which stops the negative scenario suggested in our recent reports and leads the price to achieve further gains expected in the coming sessions, en route mainly to 1.1180.

Therefore, the bullish trend is likely for today supported by a move above SMA 50, taking into consideration that breaching 1.1000 levels and then 1.0975 will bring the price back to the downside path and stop the current rally.

Expected trading range for today is between 1.0940 support and 1.1110 resistance

Expected trend for today: Bullish.

The overall movement is upward. The pair is trading in the range of 135 and 365 moving averages directed upwards. Stochastic Oscillator indicator shows oversoldness.

Trading recommendations:

Buy as the ascending structure is forming, where the AU wave breaks the inclined channel of the H1 level descending structure, completing it.

Stop Loss-1.6237 or under the local minimum.

Target levels – 1.6366; 1.6480.

The support level of 5261.0 held back sellers. Stochastic Oscillator indicator showed an exit from the oversold zone. Breaking through the resistance level 5345.0 will give the formation of an upward pattern 123.

Trading recommendations:

Buy above 5345.0

Stop loss – 5261.0.

Target levels – 5434.0; 5554.0; 5700.0.