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The pair is consolidating, while forming a continuation pattern “descending flag”. If the US inflation data doesn’t show growth, the pair will receive support.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is above the level of 50% and moves horizontally. Stoch are growing.

Trading recommendations:

If the pair goes above 0.6315, the target of the continuation pattern may go up to 0.6365.

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

The overall movement of the currency pair is upward. The downward patterd ended with the breakout of the inclined channel. A level M30 ascending pattern is formed within the main ascending pattern. Bullish divergence has formed on Awesome Oscillator.

Trading recommendations:

Buy above the round intermediate level of 0.9950 (as a level M30 ascending pattern is forming).

Stop Loss under the round important level 0.9900 (under the construction base).

Target levels — 1.0020 (trap for professionals and round secondary level); 1.0090 (138.2% Fibo from A H12 wave).

VTB stock surged following the promise of high dividends (50% of profits). Now they’re in decline caused by the overall drop of the entire stock market. Probably the downward movement is only a correction.

The general movement is upward. Breaking the pivot level of 0.0416 will result in the formation of an upward pattern 123.

Trading recommendations:

Buy above 0.04160 (on the upward pattern 123 formation).

Stop Loss – 0.04040.

Target levels – 0.04328; 0.04480.

The US dollar fluctuated in a narrow bullish range during the Asian session 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 Wednesday by the US economy, the largest economy in the world, including the speech of Federal Reserve Governor Jerome Powell in Kansas City.

At 06:00 AM GMT, the USDJPY rose 0.08% to 107.18 levels from 107.09 opening levels, after hitting a session high of 107.21, while reaching a low of 106.93.

On the Japanese economy, we followed the release of the preliminary annual reading of the Machinery Equipment Orders Index which showed that the decline shrank to 35.5% from 37.0% in August. However, yesterday, Prime Minister Shinzo Abe expressed his government's confidence in Bank of Japan Governor Haruhiko. Kuroda, while stating that Kuroda is setting the appropriate monetary policy for Japan, and that there are no plans for additional budget in the face of economic risks.

On the other hand, investors are awaiting the US economy for the release of the employment and employment turnover, which may reflect a rise to 7.35 million versus 7.22 million in July, following hours of the US labor market data released last month that showed Friday the unemployment rate fell to its lowest since December 1969 to 3.5% compared to the previous reading and expectations of 3.7%.

In the same vein, we also followed last weekend's median hourly earnings steady at zero versus 0.4% growth in August, worse than expectations of 0.3%, while the non-farm payrolls showed a slowdown. The pace of job creation was 136k jobs compared to 168k jobs added in August, also worse than expectations for 145k jobs added.

Markets are also looking to reveal the final wholesale inventories figure, which could show growth at 0.4%, unchanged from the initial reading for August and 0.2% in July, before we see Fed Governor Jerome Powell and the committee member. Federal Open Market and Kansas City Federal Reserve President Esther George at a panel discussion at the Federal Reserve listens.

The FOMC Meeting Minutes were released on September 17-18, in which the Federal Funds rate was cut for the second time in a row by 25 basis points to between 1.75% and 2.00%. It was in line with expectations, with the Commission's expectations for growth, inflation and unemployment as well as the future interest rates for the next three years revealed.

Technical analysis

USDJPY fell yesterday to settle below 107.20, and is under negative pressure from SMA 50, supporting the continuation of the expected bearish trend for the coming period, whose targets begin to break 106.70 to confirm the extension of the downside wave towards 106.06 then 105.50.

Conversely, a breach of 107.70 will stop the expected decline and drive the price to the upside.

Expected trading range for today is between 106.50 support and 107.90 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.

Gold futures fluctuated in a narrow uptrend range during the Asian session to witness the bounce for the sixth session in seven sessions from the lowest since August 4 amid the resumption of the dollar index rebound from the highest since May 12, 2017 according to the inverse relationship between them On the eve of economic developments and data expected on Wednesday by the US economy, including the speech of the Federal Reserve Governor Jerome Powell in Kansas City and with the pricing of markets for trade tensions between Washington and Beijing.

Morning gold futures for December delivery rose 0.20% to trade at $ 1508.49 an ounce compared with the opening at $ 1506.45 an ounce, while the US dollar index fell 0.01% to 99.08 compared to the opening at 99.09.

Investors are looking ahead to the US economy, which is expected to show a rise in employment and turnover, which could reflect a rise to 7.35 million from 7.22 million in July. Unemployment fell to its lowest since December 1969 to 3.5% compared to the previous reading and expectations of 3.7%.

In the same vein, we also followed last weekend's median hourly earnings steady at zero versus 0.4% growth in August, worse than expectations of 0.3%, while the non-farm payrolls showed a slowdown. The pace of job creation was 136k jobs compared to 168k jobs added in August, also worse than expectations for 145k jobs added.

Markets are also looking to reveal the final wholesale inventories figure, which could show growth at 0.4%, unchanged from the initial reading for August and 0.2% in July, before we see Fed Governor Jerome Powell and the committee member. Federal Open Market and Kansas City Federal Reserve President Esther George at a panel discussion at the Federal Reserve listens.

The FOMC Meeting Minutes were released on September 17-18, in which the Federal Funds rate was cut for the second time in a row by 25 basis points to between 1.75% and 2.00%. It was in line with expectations, with the Commission's expectations for growth, inflation and unemployment as well as the future interest rates for the next three years revealed.

On the other hand, we followed last Monday evening the announcement of the US Department of Commerce announced the inclusion of 20 Chinese public security offices and eight Chinese companies to the blacklist for violations of human rights and Muslims of Igor, before the US administration put on Tuesday a visa ban on Chinese officials linked to the mass detention of the Muslim Uighur minority In Xinjiang.

In contrast, the Chinese Ministry of Commerce said yesterday that the United States should "stop interfering" in the country's internal affairs and "remove" relevant entities from the list "as soon as possible". The trade tensions between the world's two largest economies come hours before the launch. A new round of high-level trade talks between the United States and China will be held in Washington on Thursday and Friday.

Earlier this week, China confirmed that Vice Premier Liu Hu and Governor of the People's Bank of China (PBOC) Yi Gang will travel to Washington for the October 10-11 talks. The US administration recently raised its tariffs on Chinese goods worth $ 250 billion to 30 percent from 25 percent by 15 this month.

In the same vein, we followed yesterday US President Donald Trump expressed that there is a good chance to make a real trade agreement from China, explaining his belief that the high-level Chinese delegation came to reach an agreement, adding that his country does not favor a partial agreement with China, with Turning to the United States wants a humanitarian solution to what is happening in Hong Kong.

US President Trump also noted that he believes his Chinese counterpart Xi Jinping can find a proper solution to the Hong Kong protests, though he said that if something bad happens in Hong Kong, trade talks between Washington and Beijing could be adversely affected, adding that Chinese import tariffs His country will rise on October 15 if no progress is made in the forthcoming trade negotiations between the two sides.

Technical Analysis

The price of gold provided positive trading yesterday to settle above the $ 1500.00 barrier, and moving above SMA 50 is a positive factor that may contribute to the price to achieve further gains, but we note that the stochastic indicator shows clear negative signs, forming negative pressure against the price.

Consequently, the contradiction between technical factors still exists, and the price needs to break the support 1485.00 or breach the resistance 1520.00 to determine its next destination more accurately, noting that a break above this resistance will lead the price to restore the main bullish trend and achieve positive targets starting at 1555.00, while breaking the support will press On the price for further bearish correction, whose next target is at 1447.00.

Expected trading range for today is between 1485.00 support and 1525.00 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 the fifth session rebound in seven sessions from the lowest since May 12, 2017 against the US dollar on the eve of the meetings of the euro group in Brussels and developments and economic data expected today Wednesday by the largest US economy in the world which includes Fed Governor Jerome Powell's speech in Kansas City.

At 04:55 am GMT the EURUSD rose 0.05% to 1.0963 levels from the opening at 1.0957 after the pair reached its highest level during the session at 1.0966, while the lowest level at 1.0952.

Markets are looking forward to the proceedings of the Eurogroup meetings, which are attended by the finance ministers of the eurozone member states, the Commissioner for Economic and Monetary Affairs, as well as the Governor of the European Central Bank, which discusses many financial issues such as the mechanisms of supporting the euro and government financing. However, officials have been holding regular interviews with the media throughout the day.

On the other hand, yesterday we followed the call of the President of the European Council, Donald Tusk, Britain to say what it wants about its exit from the European Union, singing through the tension "is not important to win a foolish process to exchange accusations, but important future of Europe and the United Kingdom as well as the security and interests of European people," adding that The British prime minister "Johnson does not want an agreement, nor to extend the deadline for negotiations or to retreat from the idea of ​​leaving the European Union, what exactly does he want ?!"

German Chancellor Angela Merkel, speaking in talks with British Prime Minister Boris Johnson, said the chances of an agreement on an orderly exit from the European Union were diminishing, while Johnson said during the conversation yesterday that the proposals That includes abandoning the establishment of a physical border on the island of Ireland with Britain would be acceptable offers by his government.

On the other hand, investors are awaiting the US economy for the release of the employment and employment turnover, which may reflect a rise to 7.35 million versus 7.22 million in July, following hours of the US labor market data released last month that showed Friday the unemployment rate fell to its lowest since December 1969 to 3.5% compared to the previous reading and expectations of 3.7%.

In the same vein, we also followed last weekend's median hourly earnings steady at zero versus 0.4% growth in August, worse than expectations of 0.3%, while the non-farm payrolls showed a slowdown. The pace of job creation was 136k jobs compared to 168k jobs added in August, also worse than expectations for 145k jobs added.

Markets are also looking to reveal the final wholesale inventories figure, which could show growth at 0.4%, unchanged from the initial reading for August and 0.2% in July, before we see Fed Governor Jerome Powell and the committee member. Federal Open Market and Kansas City Federal Reserve President Esther George at a panel discussion at the Federal Reserve listens.

The FOMC Meeting Minutes were released on September 17-18, in which the Federal Funds rate was cut for the second time in a row by 25 basis points to between 1.75% and 2.00%. It was in line with expectations, with the Commission's expectations for growth, inflation and unemployment as well as the future interest rates for the next three years revealed.

Technical Analysis

The EURUSD pair is trading today with a bullish bias to test SMA 50, as the price is affected by the positive stochastic and may test the resistance of the descending channel before returning to the downside again.

In general, we continue to favor the main bearish direction unless 1.1020 is breached and hold above it, noting that our main target is at 1.0857.

Expected trading range for today is between 1.0860 support and 1.1040 resistance.

Expected trend for today: Overall bearish.

The Australian dollar fluctuated in a narrow, bullish range during the Asian session to witness the bounce for the fourth session in six sessions from the lowest since March 18, 2009 against the US dollar following the developments and economic data that followed the Australian economy and on the eve of developments and economic data expected Wednesday Ahead of the US economy which includes Fed Governor Jerome Powell's speech in Kansas City.

At 02:37 am GMT, the Australian dollar against the US dollar rose 0.19% to 0.6741 levels, compared to the opening levels at 0.6728, after the pair achieved the highest during the session at 0.6742, while the lowest level at 0.6723.

The Australian WISPAC Consumer Confidence Index showed a decline of 5.5% to 92.8 vs. 1.7% at 98.2 in September. The business held steady at zero levels versus $ 1 last August.

On the other hand, investors are awaiting the US economy for the release of the employment and employment turnover, which may reflect a rise to 7.35 million versus 7.22 million in July, following hours of the US labor market data released last month that showed Friday the unemployment rate fell to its lowest since December 1969 to 3.5% compared to the previous reading and expectations of 3.7%.

In the same vein, we also followed last weekend's median hourly earnings steady at zero versus 0.4% growth in August, worse than expectations of 0.3%, while the non-farm payrolls showed a slowdown. The pace of job creation was 136k jobs compared to 168k jobs added in August, also worse than expectations for 145k jobs added.

Markets are also looking to unveil the final wholesale inventories figure, which could show growth stabilizing at 0.4%, little changed from the initial reading for August and 0.2% in July, before the participation of Fed Governor Jerome Powell and committee member. Federal Open Market and Kansas City Federal Reserve President Esther George at a panel discussion at the Federal Reserve listens.

The FOMC Meeting Minutes were released on September 17-18, in which the Federal Funds rate was cut for the second time in a row by 25 basis points to between 1.75% and 2.00%. It was in line with expectations, with the Commission's expectations for growth, inflation and unemployment as well as the future interest rates for the next three years revealed.

Technical Analysis

AUDUSD has not shown any strong movement in the past sessions, and we note that the Stochastic begins to cross negatively, waiting to contribute to push the price to trade negatively in the coming sessions, to keep the bearish trend scenario valid and effective for today, waiting to visit the level of 0.6595, with reminders Stability below 0.6840 is required for the continuation of the expected decline.

Expected trading range for today is between 0.6680 support and 0.6780 resistance.

Expected trend for today: Bearish.

The pair dropped at the support level of 1.2200 due the Brexit news. The political struggle among British elites and the inability to agree with Brussels leads to a high degree of uncertainty, which puts pressure on the pair.

The price is below the middle Bollinger indicator, below SMA 5 and SMA 14. RSI is above the oversold zone and is slightly declining. Stoch are on the border of the oversold zone and uninformative.

Trading recommendations:

The pair's decline below 1.2200 may lead to its drop to 1.2100.

Aeroflot continues to decline after breaking 101.10 support at 38.2% Fibonacci retracement. It reached the next support 99.07 and rebounded upwards.

The price is moving under the negative effect of moving averages 7-20-50 forming the resistance levels.

Stochastic is on the path after exiting the oversold area, which reflected on the price action and led to a rebound from the support level.

Expected trend for today: Bearish.