Analytic reviews

Gold futures fluctuated in a narrow upward range during the Asian session to witness the rebound for the fourth consecutive session from the lowest since August 4 amid the negative stability of the dollar index, indicating its rebound for the fourth consecutive session 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, which includes the speech of the Governor of the Federal Reserve and the speech of members of the Federal Open Market Committee.

Gold futures for December delivery rose 0.40% to trade at $ 1510.40 an ounce compared to the opening at $ 1506.62 an ounce, amid the US dollar index fell 0.01% to 98.87 compared to the opening at 98.88.

Investors are awaiting the US economy to release last month's labor market data, which may reflect a steady unemployment rate of 3.7%, little changed from August, while the change in jobs index for non-agricultural sectors may show accelerated job creation. The median hourly rate may show growth slowed to 0.3% vs. 0.4%.

This comes in conjunction with the release of the Trade Balance Index, which may reflect the widening of the deficit to $ 54.7 billion compared to $ 54.0 billion in July, and with the opening of the Federal Open Market Committee and Chairman of the Federal Reserve Bank of Boston, Eric Rosengren opening remarks of the annual conference hosted by the Bank Federal Reserve in Boston.

Federal Reserve Governor Jerome Powell gave the opening remarks at the Fed listening event hosted by the Federal Reserve Bank of Washington, before FOMC and Fed Governor Lyle Brainard moderated a panel discussion titled "Measuring Maximum Employment." In a changing labor market "and within the realities of a Fed event listens.

Markets are also looking forward to Federal Reserve Chairwoman and Kansas City Federal Reserve Chairman Esther George concluding remarks at the 61st annual meeting of the National Association of Business Economics in Denver, before another panelist and Fed deputy Randall Quarles oversaw a panel discussion on the importance of stability. Prices and lower inflation in today's economy "and that also within the realities of the event the Fed listens.

This comes amid anticipation of any hints about the future of monetary policy by the Federal Committee in the wake of a series of disappointing economic data from the US economy, which boosted the chances of the monetary policy makers at the Federal Reserve to cut interest rates for the third time in a row by 25 basis points during a meeting FOMC by the end of this month.

It is noteworthy that US President Donald Trump on Tuesday expressed that the Federal Reserve's monetary policy and the strength of the dollar are the reason behind the weak performance of the industrial sector in his country, pointing out that the Federal Reserve and his Governor Powell allowed the dollar to rise against other currencies, which negatively affected American manufacturers. He added that the interest rate on federal funds is very high and that the Federal Reserve is hostile to those decisions.

President Trump's tweets on his official Twitter account renewing his criticism of the Fed and Powell's monetary policy came after Tuesday's ISM manufacturing index showed deflation widened to 47.8 from 49.1 in August, beating expectations. It signaled an expansion at 50.4, reflecting the worst performance of the index since June 2009.

In view of global trade developments, we followed last Wednesday the World Trade Organization (WTO) issued a ruling allowing the United States to impose duties on its imports from the European Union amounting to about $ 7.5 billion annually due to the European Union's illegal financial support to the European aircraft manufacturer Airbus. US goods will be levied on EU goods by October 18.

The escalation of US trade protectionism with the EU has renewed market concerns about global trade tensions, coinciding with the prospect of a new round of high-level trade talks between the world's two largest economies by next week in Washington aimed at resolving trade disputes between the United States and China. As part of efforts to reduce the escalation of the trade war between Washington and Beijing.

Technical Analysis

Gold is trading around the 1500.00 level after yesterday's high, and the price faces a contradiction between the positive SMA 50 and the negative stochastic, which makes us continue to remain neutral until we get a clearer signal for the next trend, which we will get through breaching the resistance 1526.00 or breaking Support 1485.00.

The breach of the mentioned resistance will bring the price back to the main bullish path again, heading towards achieving positive targets starting at 1555.00, while breaking the support will press the price for a further bearish correction targeting initially 1447.00 zones.

Expected trading range for today is between 1485.00 support and 1535.00 resistance.

Expected trend for today: Neutral.

The single currency of the European Union has fluctuated in a narrow and bullish range during the Asian session to witness its rebound for the fourth consecutive session from the lowest since May 12, 2017 against the US dollar amid the lack of economic data by the euro-zone economies and on the eve of developments and economic data Expected on Friday by the US economy, the largest economy in the world, which includes the speech of the Governor of the Federal Reserve and the speech of members of the Federal Open Market Committee.

At 05:11 AM GMT, the EURUSD rose 0.05% to 1.0971 levels from the opening at 1.0965, which is the lowest level for the pair during the session, while the pair achieved the highest during the session at 1.0984.

Investors are awaiting the US economy to release last month's labor market data, which could reflect a steady unemployment rate of 3.7%, little changed from August, while the change in jobs index for non-agricultural sectors may show accelerated job creation. The average earnings per hour may show growth slowed to 0.3% vs. 0.4%.

This comes in conjunction with the release of the Trade Balance Index, which may reflect the widening of the deficit to $ 54.7 billion compared to $ 54.0 billion in July, and with the opening of the Federal Open Market Committee and Chairman of the Federal Reserve Bank of Boston, Eric Rosengren opening remarks of the annual conference hosted by the Bank Federal Reserve in Boston.

Federal Reserve Governor Jerome Powell gave the opening remarks at the Fed listening event hosted by the Federal Reserve Bank of Washington, before FOMC and Fed Governor Lyle Brainard moderated a panel discussion titled "Measuring Maximum Employment." In a changing labor market "and within the realities of a Fed event listens.

Markets are also looking forward to Federal Reserve Chairwoman and Kansas City Federal Reserve Chairman Esther George concluding remarks at the 61st annual meeting of the National Association of Business Economics in Denver, before another panelist and Fed deputy Randall Quarles oversaw a panel discussion on the importance of stability. Prices and lower inflation in today's economy "and that also within the realities of the event the Fed listens.

This comes amid anticipation of any hints about the future of monetary policy by the Federal Reserve in the wake of a series of disappointing economic data from the US economy, which boosted the chances of monetary policy makers at the Federal Reserve to cut interest rates for the third time in a row by 25 basis points during a meeting The FOMC is next with the end of this month.

Technical Analysis

EUR / USD stabilizes around 1.0980 after yesterday's rally, noting that the stochastic is starting to decline from overbought areas, forming a negative catalyst that will await the pair to resume the bearish main trend, which targets 1.0857 as the next major stop.

Stability below 1.1030 is important for the continuation of the expected decline, as a breach will push the price to start a bullish corrective wave over intraday basis.

We note the importance of monitoring trading today, as markets await the US unemployment and payrolls data, which may cause strong and mixed trading in major currency pairs.

Expected trading range for today is between 1.0840 support and 1.1050 resistance.

Expected trend for today: Overall bearish.

The Australian dollar fluctuated in a narrow, bullish range during the Asian session to witness the rebound for the third consecutive session from the lowest since March 18, 2009 against the US dollar following the developments and economic data that followed from the Australian economy and on the eve of developments and economic data on Thursday By the largest US economy in the world which includes the speech of the Governor of the Federal Reserve and the speech of members of the Federal Open Market Committee.

At 02:55 am GMT, the Australian dollar against the US dollar rose 0.16% to 0.6753 levels, compared to the opening levels at 0.6742, after the pair achieved the highest during the session at 0.6759, while the lowest level at 0.6739.

The Australian economy followed the release of the housing market data with the Housing Industry Association's New Home Sales showing a 7.3% rise versus a 7.2% decline in July. Up 0.4% against steady July levels, below expectations for a 0.5% rise.

This came in conjunction with the Reserve Bank of Australia's semi-annual financial stability review report from which it presented the Reserve Bank of Australia's assessment of the conditions in the financial system and the potential risks of financial stability, before we witness the Reserve Bank of Australia's assistant governor on the economy Lucy Ellis at the event. Hosted by the Australian Industry Group in Geelong.

On the other hand, investors are awaiting the release of the labor market data for the US economy last month, which may reflect the stability of unemployment rates at 3.7%, little changed from August, while the reading of the change in jobs index for non-agricultural sectors may accelerate the pace Job creation to 145k versus 130k jobs. Average hourly earnings may show growth slowed to 0.3% vs. 0.4%.

This comes in conjunction with the release of the Trade Balance Index, which may reflect the widening of the deficit to $ 54.7 billion compared to $ 54.0 billion in July, and with the opening of the Federal Open Market Committee and Chairman of the Federal Reserve Bank of Boston, Eric Rosengren opening remarks of the annual conference hosted by the Bank Federal Reserve in Boston.

Federal Reserve Governor Jerome Powell gave the opening remarks at the Fed listening event hosted by the Federal Reserve Bank of Washington, before FOMC and Fed Governor Lyle Brainard moderated a panel discussion titled "Measuring Maximum Employment." In a changing labor market "and within the realities of a Fed event listens.

Markets are also looking forward to Federal Reserve Chairwoman and Kansas City Federal Reserve Chairman Esther George concluding remarks at the 61st annual meeting of the National Association of Business Economics in Denver, before another panelist and Fed deputy Randall Quarles oversaw a panel discussion on the importance of stability. Prices and lower inflation in today's economy "and that also within the realities of the event the Fed listens.

Technical Analysis

AUDUSD is fluctuating around 0.6700, while SMA 50 continues to press the price negatively to protect the trading within the descending channel that appears in the picture, waiting for the resumption of the bearish trend whose next target is at 0.6595, while stability below 0.6840 is an important condition for the continuation of the decline. Expected.

Expected trading range for today is between 0.6680 support and 0.6800 resistance.

Expected trend for today: Bearish.

Amazon has been able to breach the 1750.67 support level and start the downtrend after trading below the mentioned level. The price approached the next support level of 1665.45

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

Stochastic is on an uptrend after exiting the oversold area, thus pressuring the pair to rise and test resistance 1752.86.

Expected trend for today: Neutral.

Magnit will cut the number of house brand products from 67 to 26, significantly reducing the expenses. The main purpose behind this is improving the quality of the remaining products and abandoning those not in demand. In October of 2019, Magnit will launch a nationwide advertising campaign for the new brand “Magnit Svezhest” (Magnit Freshness) on federal television, ATL and sales locations. The slogan says: “From field to shelf, fresh-quick!”. Magnit is the only food retailer in Russia with its own food production facilities.

Consider the medium-term purchase above the resistance level of 3500 rubles per 1 share.

Bullish divergence has formed  Awesome Oscillator indicator, and the Williams percentage range indicator is in the oversold zone.

Trading recommendations:

Buy strictly above 3500.0.

Stop Loss-3405.0.

Target levels-3683.0; 3815.0; 3890.0; 3980.0.

The pair is consolidating above the level of 106.70 amid the new US employment data. If the number of new jobs in September is below the forecasted 140,000, the pair will be exptected t resume dropping. If the numbers are higher, the pair will receive limited support.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone and moves horizontally. Stoch point to weakening growth.

Trading recommendations:

Sell the pair on the negative after the price drops below the level of 106.70 with a likely target of 106.20. And backward, buy on the positive after the breakout of the mark 107.05 with a likely price increase to 107.65.

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

The resistance level of 1.6550 held back buyers. The inclined channel of the ascending pattern is breached. A descending M30 level pattern is likely to emerge within the descending wave (C) of the H8 level. Stochastic Oscillator shows an exit from the overbought zone.

Trading recommendations:

Buy above 1.6429.

Stop Loss at the resistance level 1.6550.

Target levels – 1.6340; 1.6200.

The US dollar fluctuated in a narrow range that tended to decline during the Asian session to witness the rebound for the third consecutive session from the highest since September 19 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 Thursday by the economy The US is the largest economy in the world which includes the FOMC members' speech.

At 05:59 AM GMT the USDJPY fell 0.04% to 107.14 levels from 107.18 opening levels, after hitting its lowest level since September 24 at 106.97, while hitting its highest level during trading The meeting was at 107.22.

Investors are now awaiting the outcome of Chicago Fed President Charles Evans' speech on monetary policy in the central banking chain of the Global Accreditation Center in the Spanish capital, Madrid, before we see Fed Governor Randall Quarles delivering a speech entitled “Stability Board”. In 10 years "at the European Banking Summit in Brussels.

This comes in conjunction with the release of the US claims for the past week on September 28, which may reflect an increase of 2,000 applications to 215 thousand applications compared to 213 thousand applications in the previous weekly reading, as may read the index of claims applications for investors for the past week on 21 From last month, an increase of 4 thousand applications to 1,654 thousand applications against 1,650 thousand applications.

The US Markit Services PMI final reading from the US may reflect a steady expansion at 50.9, little changed from the initial reading for September and 50.7 in August, before the ISM reading was released. Expansion may show contraction to 55.1 versus 56.4 in August.

Markets from the world's largest industrialized nations are also eyeing the factory orders figure, which could show a 0.5% decline versus a 1.4% rise in July, before we see another FOMC member and Fed Vice Governor Richard Clarda speaking. He is expected to speak about the economy and monetary policy at the event hosted by the Wall Street Journal in New York.

On the other hand, investors are waiting for the release of the US labor market data tomorrow, before we see Fed Governor Jerome Powell opening remarks at a Fed listening event hosted by the Federal Reserve in Washington, in which several Fed members will also speak amid growing Expectations for the Federal Reserve to move forward for the third time in a row at the end of this month following a series of disappointing economic data.

It is noteworthy that US President Donald Trump on Tuesday expressed that the Federal Reserve's monetary policy and the strength of the dollar are the reason behind the weak performance of the industrial sector in his country, pointing out that the Federal Reserve and his Governor Powell allowed the dollar to rise against other currencies, which negatively affected American manufacturers. He added that the interest rate on federal funds is very high and that the Federal Reserve is hostile to those decisions.

President Trump's tweets on his official Twitter account renewing his attack on the Federal Reserve and Powell's monetary policy came after Tuesday's ISM manufacturing index showed deflation widened to 47.8 from 49.1 in August, contrary to expectations. Widening at 50.4, reflecting the worst performance of the index since June 2009.

In view of global trade developments, we followed yesterday the World Trade Organization (WTO) issued a ruling allowing the United States to impose duties on its imports from the European Union amounting to about $ 7.5 billion per year due to the European Union's illegal financial support for the European aircraft manufacturer Airbus. Customs duties will be imposed on EU goods by October 18.

The escalation of US trade protectionism with the EU has renewed market concerns about global trade tensions, coinciding with the prospect of a new round of high-level trade talks between the world's two largest economies by next week in Washington aimed at resolving trade disputes between the United States and China. As part of efforts to curb the growing trade war between Washington and Beijing.

Technical analysis

USDJPY made strong negative trading yesterday, breaking the 107.70 level and attacking the next support of 107.20, which stops the suggested positive scenario in our recent reports and pressures the price to turn bearish, noting that the features of a double top pattern are currently forming, which supports the chances of achieving more. Of the decline over the coming sessions.

Therefore, the bearish bias is likely for today unless it breaks 107.70 and holds above it again, noting that the awaited targets start at 106.70 and extend to 106.06 then 105.50.

Expected trading range for today is between 106.30 support and 107.70 resistance.

Expected trend for today: Bearish.

Gold futures fluctuated in a narrow range tilted lower during the Asian session to witness the bounce for the fourth session in eight sessions from the highest since September 5 amid the positive stability of the US dollar index according to the inverse relationship between them on the eve of developments and economic data expected on Thursday before The US economy is the largest economy in the world, which includes FOMC members' talk and in the shadow of market pricing of global trade tensions.

Gold futures for December delivery fell 0.02% to trade at $ 1498.26 an ounce compared with the opening at $ 1498.99 an ounce amid the US dollar index rose 0.01% to 99.04 compared to the opening at 99.03.

Investors are now awaiting the outcome of Chicago Fed President Charles Evans' speech on monetary policy in the central banking chain of the Global Accreditation Center in the Spanish capital, Madrid, before we see Fed Governor Randall Quarles delivering a speech entitled “Stability Board”. In 10 years "at the European Banking Summit in Brussels.

This comes in conjunction with the release of the US claims for the past week on September 28, which may reflect an increase of 2,000 applications to 215 thousand applications compared to 213 thousand applications in the previous weekly reading, as may read the index of claims applications for investors for the past week on 21 From last month, an increase of 4 thousand applications to 1,654 thousand applications against 1,650 thousand applications.

The US Markit Services PMI final reading from the US may reflect a steady expansion at 50.9, little changed from the initial reading for September and 50.7 in August, before the ISM reading was released. Expansion may show contraction to 55.1 versus 56.4 in August.

Markets from the world's largest industrialized nations are also eyeing the factory orders figure, which could show a 0.5% decline versus a 1.4% rise in July, before we see another FOMC member and Fed Vice Governor Richard Clarda speaking. He is expected to speak about the economy and monetary policy at the event hosted by the Wall Street Journal in New York.

On the other hand, investors are waiting for the release of the US labor market data tomorrow, before we see Fed Governor Jerome Powell opening remarks at a Fed listening event hosted by the Federal Reserve in Washington, in which several Fed members will also speak amid growing Expectations for the Federal Reserve to move forward for the third time in a row at the end of this month following a series of disappointing economic data.

It is noteworthy that US President Donald Trump on Tuesday expressed that the Federal Reserve's monetary policy and the strength of the dollar are the reason behind the weak performance of the industrial sector in his country, pointing out that the Federal Reserve and his Governor Powell allowed the dollar to rise against other currencies, which negatively affected American manufacturers. He added that the interest rate on federal funds is very high and that the Federal Reserve is hostile to those decisions.

President Trump's tweets on his official Twitter account renewing his attack on the Federal Reserve and Powell's monetary policy came after Tuesday's ISM manufacturing index showed deflation widened to 47.8 from 49.1 in August, contrary to expectations. Widening at 50.4, reflecting the worst performance of the index since June 2009.

In view of global trade developments, we followed on Wednesday the World Trade Organization (WTO) issued a ruling allowing the United States to impose duties on its imports from the European Union amounting to about $ 7.5 billion per year due to the European Union's illegal financial support for the European aircraft manufacturer Airbus. US goods will be levied on EU goods by October 18.

The escalation of US trade protectionism with the EU has renewed market concerns about global trade tensions, coinciding with the prospect of a new round of high-level trade talks between the world's two largest economies by next week in Washington aimed at resolving trade disputes between the United States and China. As part of efforts to curb the growing trade war between Washington and Beijing.

Technical analysis

Gold stabilized around 1500.00 after yesterday's bullish rally, as it tries to regain the main bullish trend again and stop the bearish correction started recently, but in contrast, we note that the price is still below the previously broken uptrend main line, along with the stochastic indicator shows Signals are clearly overbought.

Thus, this inconsistency between technical factors makes us prefer to remain neutral until we get a clearer signal for the next trend, noting that breaking 1485.00 will put the price under negative pressure again, targeting 1447.00 then 1413.10 mainly, while a break of 1524.50 will lead the price to achieve Further gains and the restoration of the main bullish trend with its first target at 1555.00.

Expected trading range for today is between 1480.00 support and 1524.00 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 from the highest since September 26 last against the US dollar on the eve of developments and economic data expected on Thursday by the euro zone economies and the US economy, which includes members of the Commission Federal Open Market.

At 05:07 AM GMT, EUR / USD fell 0.03% to 1.0956 levels from the opening at 1.0959, after the pair reached a session low of 1.0955, while hitting a one-week high of 1.0965.

Markets are looking for Spain, the euro zone's fourth-largest economy, to release its services PMI, which may show a widening contraction to 53.9 from 54.3 in August, before seeing the same indicator for Italy, the region's third-largest economy, which may reflect The breadth also shrank to 50.4 from 50.6 in August.

Investors are also waiting for France, the second largest economy in the euro zone to reveal the final reading of the services PMI, which may show the stability of the expansion at 51.6 unchanged from the initial reading of last month, compared to 53.4 in August, before the final reading of the same indicator for Germany The economies of the region may also show a steady expansion of 52.5, little changed from the previous initial reading, versus 54.8.

The final reading of the Eurozone Services PMI may show the broadening stability at 52.0, unchanged from the previous initial reading, versus 53.5 in August, and before we also see the region's economy as a whole the retail sales figure which It may show a 0.4% decline versus a 0.2% rise in July.

This comes in conjunction with the release of the euro zone economies as a whole of inflation data with the release of the PPI reading, which is a preliminary indicator of inflationary pressures that may show 0.3% growth versus a 0.6% contraction in July. The EU will reach an agreement on Brexit and that the EU will discuss any new proposals from Britain.

On the other hand, investors are awaiting the outcome of Chicago Fed President Charles Evans' speech on the monetary policy of the central banking chain of the Global Accreditation Center in Madrid, before we witness the speech of Fed Governor Randall Quarles. Financial Stability Board in 10 years "at the European Banking Summit in Brussels.

This comes in conjunction with the release of the US claims for the past week on September 28, which may reflect an increase of 2,000 applications to 215 thousand applications compared to 213 thousand applications in the previous weekly reading, as may read the index of claims applications for investors for the past week on 21 From last month, an increase of 4 thousand applications to 1,654 thousand applications against 1,650 thousand applications.

The US Markit Services PMI final reading from the US may reflect a steady expansion at 50.9, little changed from the initial reading for September and 50.7 in August, before the ISM reading was released. Expansion may show contraction to 55.1 versus 56.4 in August.

The World Trade Organization (WTO) on Wednesday issued a ruling allowing the United States to impose duties on its imports from the European Union amounting to about $ 7.5 billion annually due to the European Union's illegal financial support to the European aircraft manufacturer Airbus. Customs on EU goods by 18 October.

Technical analysis

EUR / USD held steady at SMA 50 after yesterday's rise, accompanied by clear signs of overbought signs through Stochastic, which is a negative incentive that we expect to push the pair to resume the main bearish trend, with its next target at 1.0857.

Therefore, the overall bearish trend will remain valid for the coming period unless the price pushes to breach the 1.1035 level and hold above it.

Expected trading range for today is between 1.0840 support and 1.1035 resistance.

Expected trend for today: Bearish.