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Important support and resistance levels

When buying an option against the trend, it is necessary to confirm other technical analysis tools – the presence of divergence, reversal candlestick patterns. Buy against the trend strictly on the 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.

EURUSD Technical Analysis 

The pair is dropping to the late 2016 lows as the ECB is expected to implement new large-scale measures. If Mario Draghi speaks today about the weakness of the EU economy and the importance of support, the pair will be put under pressure.

The price is below the middle Bollinger band, at the level of SMA 5 and below SMA 14. RSI is above the oversold zone and turns down. Stoch are growing and leaving the zone.

Trading recommendations:

Sell the pair after its decline below 1.0940 with probable targets of 1.0925 and 1.0900.

Trading ideas for JSC Aeroflot

A reversal pattern Hammer formed on TF H4. The support level of 101.57 holds back sellers. Bullish divergence formed on Awesome Oscillator, while Stochastic Oscillator that the stock is oversold.

Trading recommendations:

Buy above the resistance level 103.10.

Stop loss below the support level 101.57.

Target levels – 104.87; 107.10; 112.00.

AUDCHF Analysis

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

The currency pair is trading in the range of the important round level 0.6700. The pivot zone 0.6671 held back sellers – there was a false breakout of the level. Stochastic Oscillator on H4 timeframe with parameters 30.10.10 signals oversoldness.

Trading recommendations:

Buy above round secondary level 0.6720.

Stop loss below the pivot zone 0.6670.

Target levels – 0.6820; 0.6950.

AUD Analysis
 

The Australian dollar fluctuated in a narrow uptrend range during the Asian session against the US dollar amid the lack of economic data by the Australian economy and on the eve of developments and economic data expected on Thursday by the US economy, which includes members of the Federal Open Market Committee.

At 02:41 am GMT, the Australian dollar against the US dollar rose 0.09% to 0.6757 levels, compared with the opening levels at 0.6751, after the pair achieved the highest during the session at 0.6761, while the lowest level at 0.6747.

Investors are currently awaiting the US economy to reveal the GDP reading which may reflect the stability of the expansion of the largest economy in the world at 2.0%, unchanged from the initial reading of the second quarter and against the expansion of 3.1% in the first quarter. Prices stabilized at 2.4%, unchanged from the previous initial reading and 0.9% in the previous quarter.

This comes in conjunction with the release of the index of claims for the past week on September 21, which may reflect an increase of two thousand applications to 210 thousand applications compared to 208 thousand applications in the previous weekly reading, as may read the index of claims for investors for the past week on 14 This month, an increase of 5 thousand applications to 1,666 thousand applications compared to 1,661 thousand applications.

This comes in conjunction with the release of the Trade Balance of Goods Index which may show the deficit widened to $ 73.3 billion compared to $ 72.3 billion last July, and the preliminary reading of the wholesale inventories index which may reflect the slowing growth to 0.1% vs. 0.2%. In July, the housing market data was released with the release of existing home sales which may show the decline shrank to 1.0% from 2.5% in July.

Investors are also awaiting the outcome of the FOMC speech, as St. Louis Fed President James Pollard is expected to make opening remarks at the event hosted by the St. Louis Fed before we see the Fed's deputy governor. Richard Clarard at the event hosted by the Federal Reserve in San Francisco.

Technical analysis:

AUDUSD resumed its negative trading yesterday to record areas of 0.6740, reinforcing expectations for the continuation of the main bearish trend, which is moving inside the descending channel, supported by negative pressure formed by SMA 50, waiting to visit 0.6670 as the next major stop.

Note that the continuation of the suggested bearish wave requires stability below 0.6850.

Expected trading range for today is between 0.6700 support and 0.6800 resistance

Expected trend for today: Bearish

Cisco Stock Analysis

Nothing new in Cisco's stock as price still fluctuates around 50% Fibonacci retracement

SMA 20 is below the price thus forming a support level while SMA 50 is still moving above the price and forming a resistance level.

Stochastic is moving in a sideways path thus enhancing the sideways movement of the price.

General direction of movement: Neutral

EUR Analysis

The single currency of the European Union fluctuated in a narrow and bullish range during the Asian session against the US dollar on the eve of the developments and economic data expected on Thursday by the economies of the euro zone and the US economy, the largest economy in the world, including the speech of the European Central Bank Governor Mario Draghi and the speech of members of the Federal Committee for the open market later today.

At 05:22 AM GMT the EURUSD rose 0.15% to 1.0959 levels from the opening at 1.0943, after the pair reached a session high of 1.0965, while a low of 1.0942.

Markets from Germany, the euro zone's largest economy, are looking to reveal a GFK consumer confidence stat that could reflect a steady 9.7% expansion from September, before we see the ECB monthly report coinciding with the release of the annual supply reading. M-3 monetary for the economies of the region as a whole may reflect slower growth to 5.1% versus 5.2% last July.

This comes in conjunction with the disclosure of the annual reading of the index of private loans to the economies of the euro area as a whole, which may show the stability of the pace of growth at 3.4%, little changed from the previous annual reading for the month of July, to the speech of the European Central Bank Governor Mario Draghi Opening at the annual conference of the European Systemic Risk Council in Frankfurt.

On the other hand, investors are awaiting the US economy to reveal the GDP reading, which may reflect the stability of the expansion of the largest economy in the world at 2.0%, unchanged from the initial reading of the second quarter and versus the expansion of 3.1% in the first quarter, as may reflect The same index measured in prices growth stabilized at 2.4%, unchanged from the previous initial reading and compared to 0.9% in the previous reading of the first quarter.

This comes in conjunction with the release of the index of claims for the past week on September 21, which may reflect an increase of two thousand applications to 210 thousand applications compared to 208 thousand applications in the previous weekly reading, as may read the index of claims for investors for the past week on 14 This month, an increase of 5 thousand applications to 1,666 thousand applications compared to 1,661 thousand applications.

This comes in conjunction with the release of the Trade Balance of Goods Index which may show the deficit widened to $ 73.3 billion compared to $ 72.3 billion last July, and the preliminary reading of the wholesale inventories index which may reflect the slowing growth to 0.1% vs. 0.2%. In July, the housing market data was released with the release of existing home sales which may show the decline shrank to 1.0% from 2.5% in July.

Investors are also awaiting the outcome of the FOMC speech, as St. Louis Fed President James Pollard is expected to make opening remarks at the event hosted by the St. Louis Fed before we see the Fed's deputy governor. Richard Clarard at the event hosted by the Federal Reserve in San Francisco.

Technical analysis:

The EURUSD pair made significant negative trading yesterday, approaching the 1.0900 level, to continue moving within the descending channel shown, which supports the chances of continuing the bearish trend towards our next major target at 1.0857.

Therefore, we will continue to favor the bearishness over the coming sessions, keeping in mind that a breach of 1.1060 will stop the expected decline and push the price to test 1.1180 areas before any new attempt to decline.

Expected trading range for today is between 1.0860 support and 1.1060 resistance.

Expected trend for today: Bearish.

JPY Analysis

The US dollar fluctuated in a narrow range, tilted lower during the Asian session to witness its fifth session rebound in seven sessions from its highest since early August, when it tested its highest since late May against the Japanese yen on the eve of Bank of Japan Governor Haruhiko Kuroda's brief remarks. At the annual meeting of securities companies in Tokyo as well as the economic developments and data expected on Thursday on the US economy, including the speech of members of the Federal Open Market Committee.

At 05:59 AM GMT the USDJPY fell 0.10% to 107.66 levels from 107.77 opening levels, after hitting a session low of 107.60 and a high of 107.79.

Investors are currently awaiting the US economy to reveal the GDP reading which may reflect the stability of the expansion of the largest economy in the world at 2.0%, unchanged from the initial reading of the second quarter and against the expansion of 3.1% in the first quarter. Prices stabilized at 2.4%, unchanged from the previous initial reading and 0.9% in the previous quarter.

This comes in conjunction with the release of the index of claims for the past week on September 21, which may reflect an increase of two thousand applications to 210 thousand applications compared to 208 thousand applications in the previous weekly reading, as may read the index of claims for investors for the past week on 14 This month, an increase of 5 thousand applications to 1,666 thousand applications compared to 1,661 thousand applications.

This comes in conjunction with the release of the Trade Balance of Goods Index which may show the deficit widened to $ 73.3 billion compared to $ 72.3 billion last July, and the preliminary reading of the wholesale inventories index which may reflect the slowing growth to 0.1% vs. 0.2%. In July, the housing market data was released with the release of existing home sales which may show the decline shrank to 1.0% from 2.5% in July.

Investors are also awaiting the outcome of the FOMC speech, as St. Louis Fed President James Pollard is expected to make opening remarks at the event hosted by the St. Louis Fed before we see the Fed's deputy governor. Richard Clarard at the event hosted by the Federal Reserve in San Francisco.

US President Donald Trump said yesterday that his country's trade deal with China has become "closer and closer" and that there is a "good chance" of reaching a trade deal, while saying that Beijing has begun extensive purchases of items such as American meat, while also addressing the progress Trump and Japanese Prime Minister Shinzo Abe signed a limited agreement to facilitate access to US agricultural goods worth $ 7.2 billion.

Technical analysis:

USDJPY traded positively yesterday to try to breach the pivotal resistance of 107.70, while the day starts with a bearish bias to move below this level, which keeps the bearish trend scenario likely for the day, especially as the stochastic indicator shows negative signs on the four-hour time frame, waiting to target the levels. 107.20 and then 106.70 as the next major stations.

Keep in mind that a breach of 107.70 and stability above it will stop the expected decline and push the price for further gains in the short and intraday.

Expected trading range for today is between 106.70 support and 108.20 resistance.

Expected trend for today: Bearish.

Gold Analysis

Gold futures fluctuated in a narrow range upward during the Asian session amid the decline of the US dollar index according to the inverse relationship between them on the eve of the speech of the major global central bankers in addition to the developments and economic data expected on Thursday by the US economy, the largest economy in the world Members of the Federal Open Market Committee.

At 04:14 am GMT gold futures for December delivery rose 0.24% to trade at $ 1505.79 an ounce compared with the opening at 1503.43 an ounce, with the US dollar index down 0.08% to 98.88 compared to the opening at 98.96.

Markets are looking forward to BOJ Governor Haruhiko Kuroda's brief remarks at the annual meeting of securities firms in Tokyo, ahead of ECB Governor Mario Draghi's opening speech at the ECB Annual Conference in Frankfurt. Mark Carney of England at a panel discussion on the future of financial services at the same conference in Frankfurt.

Otherwise, investors are awaiting the US economy to reveal the GDP reading which may reflect the stability of the expansion of the largest economy in the world at 2.0%, unchanged from the preliminary reading of the second quarter and against the expansion of 3.1% in the first quarter, and may reflect the same indicator reading In terms of prices, growth stabilized at 2.4%, unchanged from the previous initial reading and compared to 0.9% in the previous reading of the first quarter.

This comes in conjunction with the release of the index of claims for the past week on September 21, which may reflect an increase of two thousand applications to 210 thousand applications compared to 208 thousand applications in the previous weekly reading, as may read the index of claims for investors for the past week on 14 This month, an increase of 5 thousand applications to 1,666 thousand applications compared to 1,661 thousand applications.

This comes in conjunction with the release of the Trade Balance of Goods Index which may show the deficit widened to $ 73.3 billion compared to $ 72.3 billion last July, and the preliminary reading of the wholesale inventories index which may reflect the slowing growth to 0.1% vs. 0.2%. In July, the housing market data was released with the release of existing home sales which may show the decline shrank to 1.0% from 2.5% in July.

Investors are also awaiting the outcome of the FOMC speech, as St. Louis Fed President James Pollard is expected to make opening remarks at the event hosted by the St. Louis Fed before we see the Fed's deputy governor. Richard Clarard at the event hosted by the Federal Reserve in San Francisco.

US President Donald Trump said yesterday that his country's trade deal with China has become "closer and closer" and that there is a "good chance" of reaching a trade deal, while saying that Beijing has begun extensive purchases of items such as American meat, while also addressing the progress Trump and Japanese Prime Minister Shinzo Abe signed a limited agreement to facilitate access to US agricultural goods worth $ 7.2 billion.

Technical analysis:

The price of gold stabilized below the main rising trend line, which is now turning into pivotal resistance at 1510.00, where SMA 50 meets to add more strength to it, while Stochastic provides positive signals that push the price to try to breach the mentioned resistance and then restore the main bullish trend again.

Therefore, this inconsistency between technical factors makes us prefer to remain neutral on a temporary basis, waiting for a breakout of the resistance of 1510.00 or a break of 1485.00 support to determine the next destination more precisely, noting that a break of this resistance will push the price to resume the bullish trend whose next main target is at 1555.00, A break of support will complete the formation of a negative pattern with negative targets starting at 1447.00 and extending to 1413.10.

Expected trading range for today is between 1490.00 support and 1530.00 resistance.

Expected trend for today: Bullish.

Important support and resistance levels

When buying an option against the trend, it is necessary to confirm other technical analysis tools – the presence of divergence, reversal candlestick patterns. Buy against the trend strictly on the 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.

Trading ideas for FACEBOOK Inc. (NASDAQ)

The support level of 185.00 holds back sellers. The downward sloping channel level design M15 is breeched. A rising pattern is forming within the general uptrend. Stochastic Oscillator signals oversoldness.

Trading recommendations:

Buy above 187.60.

Stop Loss – 185.00.

Target levels – 191.34; 205.00.

CADJPY Analysis

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

Pin Bar has formed on D1 timeframe. The price is in the range of 5 and 22 moving averages.

Reversal pattern Head and Shoulders has formed on TF and H1.The pair is trading in the range of the important round level 81.00. A breakout of the secondary round level 81.20 will result in a formation of a level N1 rising wave and a breakout of the "neck line" of the Head and Shoulders. The pair is also trading in the range of 365 and 135 moving averages.

Trading recommendations:

Buy above 81.20

Stop loss under round secondary level 80.80

Target levels – 82.00 (a trap for pros – close½ and move to breakeven); 82.50.

GBPUSD Technical Analysis

The pair is consolidating below the level of 1.2445 under the influence of Brexit. The pair is more likely to continue falling than to grow.

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

Trading recommendations:

If the pair doesn’t rise above the level of 1.2445, it should be sold with a target of 1.2280.

Gold Analysis

Gold futures fluctuated in a narrow range that tended to decline during the Asian session to witness the bounce for the second session from the highest since September 6 amid positive stability of the US dollar index, indicating that it bounced for the third consecutive session from the lowest since 16 of this month according to the inverse relationship TOKYO (Reuters) - The US economy, the world's largest, is on the eve of developments and economic data on Tuesday, as the Bank of Japan's Governor and Reserve Bank of Australia head looking ahead.

At 04:28 am GMT gold futures for December delivery fell 0.08% to trade at $ 1520.50 an ounce compared with the opening at 1522.86 an ounce, with the US dollar index rose 0.01% to 98.66 compared to the opening at 98.65.

Investors are currently awaiting the outcome of Bank of Japan Governor Haruhiko Kuroda's speech at a meeting of business leaders in Osaka. This comes before the Bank of Australia Governor Philip Lowe will deliver a speech entitled “Economic Modernization” at the dinner of the Armipal Chamber of Commerce in New South Wales. This is just hours before the Reserve Bank of New Zealand's monetary policy-makers' decisions tomorrow.

On the other hand, investors are awaiting the US economy to release housing market data with the release of the annual reading of the S&P House Price Index, which may show the acceleration of growth to 2.2% vs. 2.1% last June, coinciding with the release of the price index. Homes which may reflect accelerated growth to 0.3% vs. 0.2% in June.

This comes before we are witnessing by the largest industrial country in the world the disclosure of the industrial sector data with the release of the Richmond Manufacturing Index, which may show an expansion to the value of 2 to 1 last August, in conjunction with the release of consumer confidence index, which may show Breadth shrank to 134.1 from 135.1 in August

In view of the development of trade talks, we have recently followed the Chinese Ministry of Commerce expressed that the discussions on economic and trade conditions held last weekend in Washington between the world's two largest economic powers are "constructive" and good about the "detailed arrangements" for the upcoming trade talks in October. Next high-profile, and that both the United States and China agreed to stay in touch.

This came after the US Trade Representative's Office last Friday issued a brief statement describing the two-day talks with China as "fruitful" amid the assertion that the high-level trade meeting between the two parties will be held in Washington next month as planned. Last weekend, the United States also removed tariffs on more than 400 Chinese products in response to orders from US companies.

Otherwise, investors are awaiting caution on the eve of national holidays next week in China. Following the Chinese delegation's cancellation last week of a planned visit to US agricultural states, particularly Montana, which was priced in the markets that the recent trade negotiations were Fragile on the eve of the high-level talks between the parties expected by early October.

Technical analysis:

The bullish gold rally has stopped at our first target of 1524.00, showing some slight bearish bias affected by the negativity of the stochastic, while SMA 50 continues to support the price from below.

Therefore, we believe that chances are available for resuming the overall bullish trend over the coming sessions, whose next target is at 1555.00, taking into consideration that breaching 1505.00 then 1485.00 will stop the expected rally and press the price to start a bearish corrective wave.

Expected trading range for today is between 1505.00 support and 1540.00 resistance.

Expected trend for today: Bullish.

AUD Analysis

AUDUSD has been trading around 0.6775 since yesterday, and the price continues to move within the descending main channel shown in the picture, and is under constant negative pressure from SMA 50.

Thereby, our bearish outlook will remain valid for the coming period, targeting 0.6670 as the next stop, while it requires stability below 0.6860.

Expected trading range for today is between 0.6720 support and 0.6800 resistance.

Expected trend for today: Bearish.

JPY Analysis

The US dollar fluctuated in a narrow uptrend range during the Asian session to witness the resumption of the rebound from the lowest since November 9, 2016 to the 13th session in twenty-two sessions against the Japanese yen following the developments and economic data that followed from the Japanese economy, which included talk Bank of Japan Governor Haruhiko Kuroda in Osaka is on the cusp of economic developments and data expected Tuesday by the world's largest economy.

At 05:59 AM GMT the USDJPY rose 0.05% to 107.60 levels from 107.55 opening levels, after hitting a session high of 107.69 and a low of 107.48.

We followed the preliminary reading of the Markit manufacturing PMI by Japan, the world's third largest industrialized nation, which showed deflation widened to 48.9 from 49.3 in August, before the Bank of Japan Governor Kuroda's confirmation during the branch meeting The Bank of Japan will keep short and long-term interest rates at very low levels at least until the spring of 2020.

On the other hand, investors are awaiting the US economy to release housing market data with the release of the annual reading of the S&P House Price Index, which may show the acceleration of growth to 2.2% vs. 2.1% last June, coinciding with the release of the price index. Homes which may reflect accelerated growth to 0.3% vs. 0.2% in June.

This comes before we see the release of the industrial sector data by the largest industrial country in the world with the release of the Richmond Manufacturing Index, which may show an expansion to the value of 2 to 1 in August, in conjunction with the release of consumer confidence, which may show contraction Expansion to 134.1 vs. 135.1 in August.

Technical analysis:

USDJPY broke the 107.70 level and closed the daily candlestick below it, opening the way for a return to the bearish path again, especially as the SMA 50 meets the mentioned level to add more strength to the resistance formed there, in addition to the stochastic losing its momentum. Gradually positive.

Therefore, these factors encourage us to favor the bearishness over the coming sessions, with targets starting at 106.70 and extending to 106.50, noting that breaching 107.70 and consolidating above it will re-activate the bullish scenario, where the first target is located at 108.30.

Expected trading range for today is between 106.60 support and 108.30 resistance.

Expected trend for today: Bearish.

Google Stock Analysis

Google started the sideways movement within the bullish channel, where it is temporarily moving as it is based on the support level provided by the 23.6% Fibonacci retracement.

Moving averages 20-50 form support levels while SMA 7 is temporary resistance.

Stochastic is in a bearish move after exiting the overbought area thus increasing the pressure on the price to try to support it.

The general direction of movement is: Bullish

EUR Analysis

The single currency fluctuated in a narrow, bearish range during the Asian session against the US dollar on the eve of economic developments and data expected on Tuesday by Germany, the euro zone's largest economy and the world's largest economy.

At 04:56 AM GMT, the EURUSD rose 0.12% to 1.1021 compared to the opening at 1.1008, the pair's lowest level during the session, while the pair achieved its highest at 1.1025, knowing that the pair started this The week is on a bearish price gap after closing last week at 1.1017 levels.

The German economy is currently looking to reveal the IFO business climate reading which may reflect an expansion to 94.5 vs. 94.3 last August, and the same forecast for the index may show an expansion to 92.0 vs. 91.3 in August. The reading of the same index for current assessments may show that the breadth has shrunk to 97.0 from 97.3 last month.

On the other hand, investors are awaiting the US economy to release housing market data with the release of the annual reading of the S&P House Price Index, which may show the acceleration of growth to 2.2% vs. 2.1% last June, coinciding with the release of the price index. Homes which may reflect accelerated growth to 0.3% vs. 0.2% in June.

This comes before we see the release of the industrial sector data by the largest industrial country in the world with the release of the Richmond Manufacturing Index, which may show an expansion to the value of 2 to 1 in August, in conjunction with the release of consumer confidence, which may show contraction Expansion to 134.1 vs. 135.1 in August.

Technical analysis:

EUR / USD is fluctuating around the 1.1000 level and remains below it, and continues to move inside the descending channel shown, keeping the bearish scenario valid for the coming period, and the way is open for achieving our next target at 1.0857.

SMA 50 continues to support the suggested bearish wave, which requires stability below 1.1070, as a breach through this level will lead the price to test 1.1180 areas initially.

Expected trading range for today is between 1.0900 support and 1.1070 resistance.

Expected trend for today: Bearish.

GBPUSD Technical analysis

The pair is clearly turning down after reaching a local high of 1.2575 on the wave of expectations of new Brexit talks between the UK and the EU. The uncertainty of the outcome may result in a correction of the pound.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. Movings suggest selling. RSI crosses the level of 50%, giving a sell signal. Stoch are oversold and uninformative.

Trade recommendations:

Sell the pair after its decline below 1.2445 with its probable drop to 1.2280.

Trading ideas for American Express Co. (NYSE)

The support level of 116.46 continues to discourage sellers. The Awesome Oscillator indicator has formed a Bullish divergence, while the Stochastic Oscillator indicator signals that the stock is oversold. Price pivot zone 117.45 holds back the bulls.

Trading recommendations:

Buy above the mirror level of 117.45.

Stop Loss below the support level 116.46.

Target levels – 119.50; 123.06.

GBPUSD Analysis

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

The price pivot zone of 1.2558 held back the bulls. The inclined channel of the ascending pattern is breached. The breakout of 1.2458 will result in a formation of a descending wave pattern.

Trading recommendations:

Buy below 1.2458.

Stop Loss – 1.2582.

Target levels – 1.2380 (close ½ and move to breakeven); 1.2020.

Important support and resistance levels

When buying an option against the trend, it is necessary to confirm other technical analysis tools – the presence of divergence, reversal candlestick patterns. Buy against the trend strictly on the 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.

AUD Analysis 

The Australian dollar fluctuated in a narrow range, tilted lower during the Asian session to witness the rebound to the eighth session from its highest since late July against the US dollar following the developments and economic data that followed the weekend of the Australian economy and on the eve of developments and economic data expected on Monday before The US economy is the largest economy in the world which includes the speech of the members of the Federal Open Market Committee.

At 02:57 AM GMT, the Australian dollar against the US dollar fell by 0.04% to 0.6778 levels, compared to the opening levels at 0.6775, after the pair achieved the lowest during the trading session at 0.6765, while achieving the highest at 0.6779, knowing The pair started this week on a bullish price gap after closing last week at 0.6766 levels.

This was followed by the release of the preliminary manufacturing PMI for September, which showed a contraction of 49.4 vs. an expansion of 50.9 in August, coinciding with the preliminary reading of the services PMI for the month. Which showed an expansion to 52.5 versus a contraction of 49.1 in August.

On the other hand, investors are currently awaiting the release of the preliminary reading of the manufacturing and services PMI from the US, amid expectations that the industrial sector will expand at 50.3, unchanged from the previous reading in August, while the reading may show Initial Service Purchasing Managers' Index expanded to 51.5 vs. 50.7 in August.

Later in the day, markets are looking ahead to FOMC members' speech, as Federal Reserve Chairman John Williams is expected to brief us at the US Treasury market conference in New York via satellite, before witnessing the speech of St. Louis Bank President. Federal Reserve James Bullard on the US economy and monetary policy at the Luncheon Chamber of Commerce lunch in Illinois.

This comes just hours after the September 17-18 FOMC meeting in Washington, during which the Fed's monetary policy makers decided to cut interest rates on federal funds for the second consecutive meeting by 25 basis points to 1.75. 2.00%, which was in line with expectations at the time, with the disclosure of the Committee's expectations on growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

Technical analysis:

AUDUSD is resuming its negative trade quietly to move away from the descending channel resistance, reinforcing expectations for the bearishness to continue in the intraday and short term, awaiting a visit to 0.6670 which is our next main target.

Negative pressure from SMA 50 supports the bearish outlook, which requires a continuation below 0.6860.

Expected trading range for today is between 0.6720 support and 0.6800 resistance

Expected trend for today: Bearish

EUR Analysis

The euro held steady on Monday against a basket of global currencies, in a limited range of trading against the US dollar, as investors were reluctant to build new positions, ahead of important data on key sectors in Europe, which provides evidence of the performance of the euro economy during the third quarter of This year, in addition to waiting for the testimony of European Central Bank Governor "Mario Draghi" before the unified parliament in Brussels.

The euro against the dollar by 06:34 GMT, trading at $ 1.1019 from an opening price of $ 1.1015 after recording the highest price of $ 1.1025, and the lowest of $ 1.1002.

On Friday, the euro lost 0.2% against the dollar, its second consecutive daily loss, as investors focused on developments in trade talks between the United States and China.

The euro fell last week by 0.5% against the US dollar, the first weekly loss in the last three weeks, due to the Federal Reserve's statement, which reduced the possibility of a third US rate cut this year.

Later in the day, investors awaited data on key sectors of the European economy, to survey the extent of the economic recovery in the euro zone in the third quarter, to be released respectively the preliminary reading of the PMI manufacturing and service sectors across Europe in September.

By 13:00 GMT, the testimony of European Central Bank Governor Mario Draghi will begin before the European Parliament's Committee on Economics and Monetary Affairs in Brussels.

Following the September 12 meeting, the European Central Bank announced new stimulus measures to support the euro economy, including a 10 basis point cut in deposit rates to minus 0.5%, and launched a new bond purchase program by about 20 billion euros a month starting in November. Next, this is fueled by increased risks and weak inflation in Europe.

Investors are looking through Draghi's comments for new evidence of the ECB's outlook on future economic developments, and whether further stimulus measures are needed, which could be announced at future central bank meetings.

Technical analysis:

EUR / USD has provided negative trading to approach the 1.1000 barrier, reinforcing expectations that the bearish trend will continue within the descending channel shown, supported by the negative pressure that SMA 50 continues to provide, along with the negativity of stochastic, awaiting the trend towards 1.0857 mainly.

Keep in mind that a break of 1.1075 will stop the expected decline and push the price to test 1.1180 areas just before any fresh attempt to fall.

Expected trading range for today is between 1.0930 support and 1.1100 resistance.

Expected trend for today: Bearish.

Gold Analysis 

Gold futures fluctuated in a narrow, bullish range during the Asian session to rebound for the fourth consecutive session from the lowest since August 7 amid the decline of the dollar index for the eleventh session in fifteen sessions from the highest since May 12 from In 2017, according to the inverse relationship between them on the eve of developments and economic data expected on Monday by the US economy, the largest economy in the world, which includes the speech of members of the Federal Open Market Committee.

At 04:40 am GMT, gold futures for December delivery rose 0.05% to trade at $ 1511.90 an ounce compared to the opening at 1512.35 an ounce after reaching the highest price at 1519.32, with the US dollar index down 0.03% to 98.48 Compared to the opening at 98.51.

Investors are now looking to unveil the US Markit Manufacturing and Services PMI, with expectations that the manufacturing sector will stabilize at 50.3, unchanged from the previous August. Service purchases expanded to 51.5 from 50.7 in August.

Later in the day, markets are looking ahead to FOMC members' speech, as Federal Reserve Chairman John Williams is expected to brief us at the US Treasury market conference in New York via satellite, before witnessing the speech of St. Louis Bank President. Federal Reserve James Bullard on the US economy and monetary policy at the Luncheon Chamber of Commerce lunch in Illinois.

This comes just hours after the September 17-18 FOMC meeting in Washington, during which the Fed's monetary policy makers decided to cut interest rates on federal funds for the second consecutive meeting by 25 basis points to 1.75. 2.00%, which was in line with expectations at the time, with the disclosure of the Committee's expectations on growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

In view of the development of trade talks, we have followed the Chinese Ministry of Commerce expressed that the discussions of economic and trade conditions held last weekend in Washington between the two largest economic powers in the world "constructive" and good on the "detailed arrangements" for the forthcoming trade talks in October High-profile, and that both the United States and China agreed to stay in touch.

This came after the US Trade Representative's Office last Friday issued a brief statement describing the two-day talks with China as "fruitful" amid the assertion that the high-level trade meeting between the two parties will be held in Washington next month as planned. Last weekend, the United States also removed tariffs on more than 400 Chinese products in response to orders from US companies.

Otherwise, investors are awaiting caution on the eve of national holidays next week in China. Following the Chinese delegation's cancellation last week of a planned visit to US agricultural states, particularly Montana, which was priced in the markets that the recent trade negotiations were Fragile on the eve of the high-level talks between the parties expected by 10 October.

Technical analysis:

Gold confirmed the breach of 1505.00 level after ending last Friday trading above, to activate the bullish scenario again, on its way to achieve gains starting at 1524.00 and extending to 1555.00 after breaching the previous level.

Therefore, we expect the bullish trend to continue during the coming sessions supported by a move above SMA 50, provided that the price keeps its stability above 1485.00.

Expected trading range for today is between 1505.00 support and 1535.00 resistance

Expected trend for today: Bullish

JPY Analysis

The US dollar fluctuated in a narrow bullish range during the Asian session to see the bounce resumed from its lowest since November 9, 2016 for the 13th session in 21 sessions against the Japanese yen amid the lack of economic data earlier this week by the Japanese economy Due to Japan's moderation holiday and on the eve of economic developments and data expected on Monday by the US economy, the largest economy in the world, which includes the speech of members of the Federal Open Market Committee.

At 06:32 am GMT, the US dollar against the Japanese yen rose 0.08% to 107.72 levels compared to the opening levels at 107.72, after the pair reached its highest level during the session at 107.80, while the lowest level at 107.61, knowing The pair started this week on a bullish price gap after closing last week at 107.56 levels.

Investors are now looking to unveil the US Markit Manufacturing and Services PMI, with expectations that the manufacturing sector will stabilize at 50.3, unchanged from the previous August. Service purchases expanded to 51.5 from 50.7 in August.

Later in the day, markets are looking ahead to FOMC members' speech, as Federal Reserve Chairman John Williams is expected to brief us at the US Treasury market conference in New York via satellite, before witnessing the speech of St. Louis Bank President. Federal Reserve James Bullard on the US economy and monetary policy at the Luncheon Chamber of Commerce lunch in Illinois.

Technical analysis:

USDJPY is attempting to breach 107.53 but remains above it so far, keeping the bullish scenario valid for now, and the pair needs to get enough positive incentive to push the trade to breach 108.30 and then open the way to the next target at 109.30.

Keep in mind that a break of 107.70 and holding below it will stop the positive outlook and press the price to turn bearish.

Expected trading range for today is between 107.00 support and 108.50 resistance

Expected trend for today: Bullish

SberBank Bank Stock Analysis

SberBank  Stock  had reached the resistance of 235.96, and bounced back from it to correct the path, which temporarily halted the bullish movement after the stock managed to breach the EMA 50 last week and stabilize above it.

The price continues the bullish move which was confirmed after exiting the descending channel that has been trading for the past two weeks.

The price is moving above the 20-50 moving averages that form support levels but it is below the moving average 7.

The stochastic is in a bearish path and the continuation of the move downwards will stimulate the price to decline further.

Expected movement between 210.8 support and 244.06 resistance

The general trend is to the upside

 AUDUSD Technical Analysis

The pair partially recovered against the background of being locally technically oversold. It has the potential to drop further amid the high probability of a rate cut by the RBA early next month.

The price is below the middle Bollinger band indicator, above SMA 5, but below SMA 14. RSI is rising, but still remains below the level of 50%. Stoch indicate growth.

Trade recommendations: 
Sell the pair with an intermediate target of 0.6780 and its further drop to 0.6700.

Amazon Stock Analysis

Amazon's stock is moving in a sideways incline under the ascending channel it has been trading in for two weeks

The 61.8% Fibonacci retracement is supporting the price and pushing it higher.

The price is currently moving between the 20 MAs from the bottom and 50 from the top which form support and resistance levels.

Stochastic is bullish after reaching oversold area and rebounding. Thus, it could push the price and push it to test the resistance at SMA 50

General direction of movement: Neutral

AUD Analysis 

The Australian dollar fluctuated in a narrow range tilted to decline during the Asian session to witness the rebound to the seventh session from its highest since late July against the US dollar amid the lack of economic data on Friday by the Australian economy and on the eve of FOMC members John Williams The Federal Reserve Bank of New York and Eric Rosengren are chairman of the Boston Fed.

At 02:58 AM GMT, the Australian dollar against the US dollar fell 0.01% to 0.6791 levels, compared to the opening levels at 0.6793, after the pair achieved its lowest since September 4 at 0.6779, while achieving the highest during trading The session was at 0.6797.

Last Tuesday, the Reserve Bank of Australia unveiled the minutes of its September 3 meeting, at which the Bank of Australia's monetary policy makers decided to hold short-term interest rates at their lowest ever level for the second consecutive meeting at 1.00%. Which was expected by market analysts at the time.

RBA policy makers at the time expressed the upward trend in wage growth that seems to have stalled and the risks to the global outlook are still tilted to the downside, indicating that it will consider further easing of monetary policy if necessary. While affirming that it is reasonable to expect an "extended period" of low interest rates to achieve the goals of employment and inflation.

This came ahead of Thursday's release of Australian labor market data which showed the unemployment rate rose to 5.3% vs. 5.2% in July, worse than expectations for stability at the same rate previously, in conjunction with the reading showed the change in employment index shrank Rise to 34.7K vs. 36.4K in July, beating expectations of 15.2K.

On the other hand, investors are now awaiting the outcome of the FOMC speech by New York Federal Reserve Chairman John Williams, who is scheduled to deliver a speech titled "Anchor Demolition: Monetary Policy and Minimum Interest Rate Rules" at the Bank's conference. Swiss National Bank in Zurich, before we see the speech of the President of the Federal Reserve Bank of Boston and Eric Rosengren about the credit cycle at the event hosted by New York University.

This comes just hours after the September 17-18 FOMC meeting in Washington, during which the Fed's monetary policy makers decided to cut interest rates on federal funds for the second consecutive meeting by 25 basis points to 1.75. 2.00%, which was in line with expectations at the time, with the disclosure of the Committee's expectations on growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

Technical analysis:

AUDUSD stabilizes below the 0.6800 barrier, and SMA 50 continues to press the price negatively, keeping the bearish scenario valid so far, with its next major target at 0.6670.

Stability below 0.6865 is important for the continuation of the expected decline, as a breach will push the price to start a bullish correction on the intraday basis.

Expected trading range for today is between 0.6730 support and 0.6820 resistance

Expected trend for today: Bearish

EUR Analysis

The single currency fluctuated in a narrow, bullish range during the Asian session to see its fifth session rebound in seven of its lowest since September 3, when it tested its lowest since May 15, 2017 against the US dollar on the eve of economic developments and data. On Friday by Germany, the euro zone's largest economy and amid looking forward to the speech of members of the Federal Open Market Committee.

At 05:36 am GMT the EURUSD rose 0.14% to 1.1057 levels compared to the opening at 1.1041, after the pair reached its highest level during the session at 1.1060, while the lowest level at 1.1040.

Markets are currently looking ahead to the euro zone's largest economy, Germany, to release its PPI reading, which is a preliminary indicator of inflationary pressures that may reflect a 0.1% rise against steady zero levels in July, while the annual reading of the index may show slower growth to 0.6 % Vs. 1.1% in the previous annual reading for July.

On the other hand, investors are now awaiting the outcome of the FOMC speech by New York Federal Reserve Chairman John Williams, who is scheduled to deliver a speech titled "Anchor Demolition: Monetary Policy and Minimum Interest Rate Rules" at the Bank's conference. Swiss National Bank in Zurich, before we see the speech of the President of the Federal Reserve Bank of Boston and Eric Rosengren about the credit cycle at the event hosted by New York University.

This comes just hours after the September 17-18 FOMC meeting in Washington, during which the Fed's monetary policy makers decided to cut interest rates on federal funds for the second consecutive meeting by 25 basis points to 1.75. 2.00%, which was in line with expectations at the time, with the disclosure of the Committee's expectations on growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

Technical analysis:

The EURUSD pair did not show any strong movement yesterday, continuing to fluctuate at the resistance of the descending channel shown, where SMA 50 meets to add more strength, waiting for the resumption of the descending wave targeting 1.0857 mainly.

Therefore, we hold onto our bearish outlook provided that the price holds steady below 1.1080, as a breach through this level will push the price to test 1.1180 before any new attempt to decline.

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

Expected trend for today: Bearish

Gold Analysis

Gold futures fluctuated in a narrow, bullish range during the Asian session to rebound for the third consecutive session from the lowest since August 7 amid the dollar index fell for the eleventh session in fourteen sessions from the highest since May 12, 2017 According to the inverse relationship between them amid the lack of economic data on Friday by the US economy, the largest economy in the world and looking forward to the developments of trade talks following the decisions and directions of monetary policy makers at major global central banks.

Gold futures for December delivery rose 0.62% to trade at $ 1498.28 an ounce compared with the opening at 1492.67 an ounce, knowing that the contracts are still on their fourth consecutive weekly loss with a bounce back From a six-year high, this comes with the US dollar index falling 0.12% to 98.22 compared to the opening at 98.34.

Investors are now awaiting the outcome of the FOMC speech by Federal Reserve Bank of New York President John Williams, who is scheduled to deliver a speech titled "Anchor Demolition: Monetary Policy and Minimum Interest Rate Rules" at the SNB conference in New York. Zurich, before we see Boston Fed President and Eric Rosengren talk about the credit cycle at the NYU event.

This comes just hours after the FOMC meeting held Wednesday (September 17-18) in Washington, during which the Fed's monetary policy makers approved a 25bp cut in federal funds for the second consecutive meeting. Between 1.75% and 2.00%, which was in line with expectations at the time, with the disclosure of the Committee's expectations on growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

On the other hand, we continued to cut the People's Bank of China (PBoC) new one-year interest rates to 4.2% from 4.25% the previous month, while keeping the interest rate for five years unchanged from last month at 4.85%. Hours after the Bank of Japan kept interest rates negative at 0.10%, before today we see a reduction in its purchases of debt, which boosted the rise in yields of Japanese bonds, especially ten-year bonds are in the preferred range of the Japanese Central Bank of plus or minus 0.2%.

In view of the development of trade talks between Washington and Beijing, we followed yesterday the South China Morning Post to warn US President Donald Trump that Washington is ready to escalate the trade war in case of a trade agreement soon with Beijing. This came after yesterday began a new round of trade talks. The two sides at the level of deputy officials in preparation for the high-level talks expected in Washington at the beginning of next month aimed at resolving trade disputes between the two largest economies in the world.

In the same context, we also followed yesterday US Secretary of Commerce Wilbur Ross expressed that the trade negotiations with Beijing is more complicated than the issue of soybeans, noting that China to buy more US agricultural products may be insufficient to sign a trade agreement with them, and came hours after US Agriculture Secretary Sonny Perdeo said the Chinese delegation will visit US farms next week and that they want to check the quality of US farm produce.

Otherwise, yesterday we followed the OECD cut its global economic growth forecast for this year and next 2020 to 2.9% from 3.2% in its previous forecast and to 3.0% from 3.4% for 2020, with its US economic growth forecast down to 2.4% from 2.8%. The organization, which warned of uncertainty, lowered its forecast for Europe's economic growth to 1.1% from 1.2% to 2.0% from 2.3%, in addition to lowering its forecast for China's economic growth this year to 6.1% from 6.2% and 5.7% from 6.0% in 2020. It increased to 1.0% from 1.4%, while it raised its forecast for Japan to 1.0% from 0.7% for this year and kept its forecast at 0.6% for 2020.

Technical analysis:

Gold is fluctuating around SMA 50, and is floating near the pivotal resistance 1503.00, as we pointed out yesterday, this level represents one of the pivotal levels that we expect to determine the next price point along with the support 1485.00, as a break above this resistance will push the price to resume the main bullish trend that exists His next target is at 1555.00, while a break of support will complete the formation of a head and shoulders pattern that has the potential to initially push the price to areas of 1447.00.

Therefore, we continue to remain neutral until the price confirms the breach of one of the pivotal levels mentioned above.

Expected trading range for today is between 1485.00 support and 1520.00 resistance

Expected trend for today: Neutral

JPY Analysis

The US dollar fell during the Asian session to rebound for the third session from its highest since early August, when it tested the highest since late May against the Japanese yen following the developments and economic data that followed from the Japanese economy and on the eve of the FOMC members John Williams President of the New York Federal Reserve Bank and Eric Rosengren President of the Federal Reserve Bank of Boston.

At 06:29 AM GMT, the USDJPY fell 0.14% to 107.87 levels from the opening levels of 108.02, after the pair reached a session low of 107.80, while hitting a high of 108.09.

This was followed by the release of inflation data with the release of the annual consumer price index, which showed growth slowed to 0.3%, in line with expectations, against 0.5% last July. The annual reading of the same index, excluding fresh food, showed slower growth to 0.5% in line with expectations versus 0.6%, while the annual reading of the same index excluding energy and fresh food showed stable growth at 0.6%, contrary to expectations that slow growth to 0.5%.

This came hours after the Bank of Japan's monetary policy makers decided to keep interest rates negative at 0.10%, which was expected in the markets, with the release of the Japanese monetary policy statement, which was followed by Bank of Japan Governor Haruhiko Kuroda at the press conference. He held in Tokyo that the Bank of Japan still has options for further monetary easing, but said that it is possible that the Bank of Japan will not resort to monetary easing during the next meeting.

On the other hand, investors are now awaiting the outcome of the FOMC speech by New York Federal Reserve Chairman John Williams, who is scheduled to deliver a speech titled "Anchor Demolition: Monetary Policy and Minimum Interest Rate Rules" at the Bank's conference. Swiss National Bank in Zurich, before we see the speech of the President of the Federal Reserve Bank of Boston and Eric Rosengren about the credit cycle at the event hosted by New York University.

This comes just hours after the September 17-18 FOMC meeting in Washington, during which the Fed's monetary policy makers decided to cut interest rates on federal funds for the second consecutive meeting by 25 basis points to 1.75. 2.00%, which was in line with expectations at the time, with the disclosure of the Committee's expectations on growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

Technical analysis:

USDJPY is now trading sideways and is floating at SMA 50, and may test the pivotal support floor 107.70 before attempting to rally again.

In general, we continue to favor the bullish trend provided stability above the mentioned support, as breaking it will press the price to return to the bearish path again, while the price needs to breach 108.30 to confirm the rush towards our next main target which reaches 109.30.

Expected trading range for today is between 107.00 support and 108.70 resistance.

Expected trend for today: Bullish.

 AUDUSD Technical analysis 

The pair remains under pressure due to expectations of a reduction in interest rates by the RBA before the end of this year. At the same time, the outcome of the Fed meeting didn’t have a significant impact on the US dollar.

The price is below the lower Bollinger band, below SMA 5 and SMA 14. RSI is in the oversold zone. Stoch is also there.

Trading recommendations:

Sell the pair as it goes below 0.6780 or rebounds from 0.6800 with a likely target of 0.6700.

Trading ideas for PJSC «LUKOIL»

The overall movement is upward. The downward pattern is truncated.  An ascending pattern is being formed while completing the descending structure by breaking through the inclined channel. Stochastic Oscillator indicates oversoldness.

Trading recommendations:

Buy above 5465.0 (on the ascending structure formation).

Stop Loss – 5415.0.

Target levels - 5554.0; 5726.0.

GBPUSD Analysis

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

Rising design is truncated. The level of 1.2530 holds back buyers, a bearish divergence formed on MACD. The breakthrough of the support level 1.2440 will result in a formation of an H1 level descending pattern.

Trading recommendations:

Sell below 1.2440.

Stop Loss – 1.2530.

Target levels – 1.2360. (closing ½ and move to breakeven); 1.2210.

Call Put levels

When buying an option against the trend, it is necessary to confirm other technical analysis tools – the presence of divergence, reversal candlestick patterns. Buy against the trend strictly on the 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.

EUR Analysis

The single currency of the European Union (EU) has fluctuated in a narrow, bullish range during the Asian session, bouncing back to its fourth session in six of its lowest since September 3, when it tested its lowest since May 15, 2017 against the US dollar. On the eve of the economic developments and data expected on Thursday by the economies of the euro zone and the US economy, the largest economy in the world.

At 05:51 AM GMT the EURUSD rose 0.08% to 1.1010 levels from the opening at 1.1001, after the pair reached a session high of 1.1014, while a low of 1.0998.

Investors are looking ahead to the Eurozone economies as a whole, revealing the seasonally adjusted Current Account reading, which could reflect a widening surplus to EUR 20.3 billion from EUR 18.4 billion last June. Juncker told the European Parliament that the risk of Brexit without an agreement remained.

The European Commission President Juncker also told the European Parliament yesterday that it is possible to reach an agreement on Britain's exit from the European Union, in the case of reaching a settlement on the main thorny issues that prevent the agreement, led by the Irish border and the plan of Pakistan. Progress on the Brexit file until the UK submits its proposals to resolve these thorny issues.

European Commission President Juncker also said his recent talks with British Prime Minister Boris Johnson had been friendly and constructive, although he said it was uncertain whether an agreement on Brexit could be reached at the moment, especially since there was not enough time before. The deadline for Brexit, which has already been postponed until the end of October.

On the other hand, investors are currently awaiting the US economy for the release of the current account reading which may reflect a shrinking deficit to $ 127 billion compared to $ 130 billion during the first quarter, in conjunction with the disclosure of the Philadelphia industrial index by the largest industrialized country in the world which may Reflecting the shrinkage widened to 10.9 vs. 16.8 last August.

This comes in conjunction with the issuance of the number of claims applications for the past week on the 14th of this month, which may reflect an increase of 6 thousand applications to 214 thousand applications compared to 204 thousand applications in the previous weekly reading, as may read the index of claims applications for investors for the past week in The seventh of this month increased by two thousand applications to 1,672 thousand applications against 1,670 thousand applications.

Leading indicators, which may show a contraction to 0.1% from 0.5% in July, coinciding with the release of the US housing market data with the release of the Existing Home Sales, which may show a 0.7% decline to 5.39 million versus 2.5% rise at 5.42 million homes in July's prior reading.

This comes just hours after the FOMC meeting, during which the Fed's monetary policy makers approved a 25bp cut in federal funds for the second consecutive meeting to between 1.75% and 2.00%. Expectations, with the disclosure of the Committee's expectations on growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

Technical Analysis:

EUR / USD is trading around the 1.1040 level, and the price holds steady below the descending channel resistance, as it is under constant negative pressure from SMA 50, while Stochastic continues to provide overbought signals.

Therefore, these factors encourage us to continue to favor the bearishness over the coming sessions, which mainly targets 1.0857, while achieving it requires stability below 1.1085.

Expected trading range for today is between 1.0950 support and 1.1100 resistance.

Expected trend for today: Bearish.

Gold Analysis

Gold futures fluctuated in a narrow range, tilted lower during the Asian session to witness the rebound for the seventh session in the twelve sessions from the highest since April 10, 2013, overlooking the decline of the dollar index for the tenth session in thirteen sessions from the highest since May 12 May 2017 According to the inverse relationship between them after the disclosure of the decisions and directions of the Bank of Japan and on the threshold of developments and economic data expected on Thursday by the US economy, the largest economy in the world.

At 04:07 am GMT, gold futures for December delivery rose 0.30% to trade at 1495.77 an ounce compared with the opening at 1492.64 an ounce, while the US dollar index fell 0.11% to 98.47 compared to the opening at 98.57.

The Bank of Japan's monetary policy makers acknowledged that interest rates will remain negative at 0.10%, which was expected by both markets, as the Bank of Japan's monetary policy statement was released. Investors are looking forward to the outcome of the press conference. Bank of Japan Governor Haruhiko Kuroda is holding it in Tokyo, especially following the recent Fed and ECB rate cuts.

On the other hand, investors are currently awaiting the US economy for the release of the current account reading which may reflect a shrinking deficit to $ 127 billion compared to $ 130 billion during the first quarter, in conjunction with the disclosure of the Philadelphia industrial index by the largest industrialized country in the world which may Reflecting the shrinkage widened to 10.9 vs. 16.8 last August.

This comes in conjunction with the issuance of the number of claims applications for the past week on the 14th of this month, which may reflect an increase of 6 thousand applications to 214 thousand applications compared to 204 thousand applications in the previous weekly reading, as may read the index of claims applications for investors for the past week in The seventh of this month increased by two thousand applications to 1,672 thousand applications against 1,670 thousand applications.

Leading indicators, which may show a contraction to 0.1% from 0.5% in July, coinciding with the release of the US housing market data with the release of the Existing Home Sales, which may show a 0.7% decline to 5.39 million versus 2.5% rise at 5.42 million homes in July's prior reading.

This comes just hours after the FOMC meeting, during which the Fed's monetary policy makers approved a 25bp cut in federal funds for the second consecutive meeting to between 1.75% and 2.00%. Expectations, with the disclosure of the Committee's expectations on growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

In view of the developments in the trade talks, we followed yesterday, White House economic adviser Larry Kudlow said that US President Donald Trump is scheduled to meet with Japanese Prime Minister Shinzo Abe next Wednesday to finalize the trade agreement between Washington and Tokyo, to be signed between the United States and Japan At the UN General Assembly meeting by the end of this month.

On the other hand, Japanese Foreign Minister Toshimitsu Motegi also noted yesterday that Japan should ensure that the United States does not impose more tariffs on Japanese cars before signing any trade agreement between the two countries, noting that no agreement has been reached on Tokyo's exports of cars. To Washington so far.

US President Trump noted Monday that his country has reached initial trade agreements with Japan. Otherwise, markets are now looking to launch a new round of trade talks between the US and China at the level of deputy officials in Washington in preparation for the upcoming high-level talks between the two sides by the beginning of the month. Next which aims to resolve the existing trade disputes between the two largest economists in the world.

Technical analysis:

Gold price traded strongly negative yesterday evening to break the rising trend line and stabilize below it, and by looking closely at the chart, we find that the price formed a head and shoulders pattern showing its features in the picture, which means that breaking 1485.00 will activate the negative effect of this pattern and pressuring the price to start a bearish corrective wave.

Now, we prefer to remain neutral until we get a clearer signal for the next trend, which will be obtained by breaking the support 1485.00 or breaching the resistance of 1505.00, noting that breaking the mentioned support will push the price to 1447.00 as the next major target, while a breach of 1505.00 will lead the price to resume. The main bullish trend which targets at 1524.00 and extends to 1555.00 after breaching the previous level.

Expected trading range for today is between 1475.00 support and 1525.00 resistance.

Expected trend for today: Neutral.

JPY Analysis 

The US dollar fell during the Asian session to witness a rebound for the second session from the highest since early August, when it tested the highest since late May against the Japanese yen following the developments and economic data that followed from the Japanese economy, which includes decisions and trends of the Bank of Japan on the threshold of developments and data The economic outlook is expected Thursday by the US economy, the largest economy in the world.

At 06:03 AM GMT, USD / JPY fell 0.48% to 107.93 levels from 108.45 opening levels, after hitting a session low of 107.79 and a high of 108.47.

The Bank of Japan's monetary policy makers acknowledged that interest rates will remain negative at 0.10%, which was expected by both markets, with the release of the Bank of Japan's monetary policy statement. It showed a 0.2% gain versus a 0.7% decline in June, below expectations for a 0.4% rise.

On the other hand, investors are currently awaiting the US economy for the release of the current account reading which may reflect a shrinking deficit to $ 127 billion compared to $ 130 billion during the first quarter, in conjunction with the disclosure of the Philadelphia industrial index by the largest industrialized country in the world which may Reflecting the shrinkage widened to 10.9 vs. 16.8 last August.

This comes in conjunction with the issuance of the number of claims applications for the past week on the 14th of this month, which may reflect an increase of 6 thousand applications to 214 thousand applications compared to 204 thousand applications in the previous weekly reading, as may read the index of claims applications for investors for the past week in The seventh of this month increased by two thousand applications to 1,672 thousand applications against 1,670 thousand applications.

Leading indicators, which may show a contraction to 0.1% from 0.5% in July, coinciding with the release of the US housing market data with the release of the Existing Home Sales, which may show a 0.7% decline to 5.39 million versus 2.5% rise at 5.42 million homes in July's prior reading.

This comes just hours after the FOMC meeting, during which the Fed's monetary policy makers approved a 25bp cut in federal funds for the second consecutive meeting to between 1.75% and 2.00%. Expectations, with the disclosure of the Committee's expectations on growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

Technical analysis:

USDJPY opens today with strong negativity to approach the pivotal support of 107.85, which requires attention from the upcoming trading, as the continuation of the decline and breaking this level will stop the positive scenario proposed in our recent reports and press the price to return to the downside path again.

So far, the bullish trend is still likely for the coming period provided stability above 107.85, supported by SMA 50, noting that our next main target extends to 108.75.

Expected trading range for today is between 107.00 support and 108.75 resistance.

Expected trend for today: Bullish.

Cisco Stock Analysis

Cisco tested the support level of 49.33 and was unable to break it yesterday to close above the mentioned support level

SMA 20 is below the price thus forming a support level while SMA 50 is still moving above the price and forming a resistance level

Stochastic has exited the overbought area on a downtrend, thus increasing pressure on the price to retest support again.

AUD Analysis

The Australian dollar fell during the Asian session to witness the rebound to the fourth session from its highest since late July against the US dollar following the developments and economic data released by the Australian economy and on the eve of developments and economic data expected on Thursday by the US economy, the world's largest economy.

At 03:03 AM GMT, the AUDUSD fell 0.45% to 0.6780 levels, compared to the opening levels of 0.6825, after the pair reached its lowest level during the session at 0.6778, while achieving the highest at 0.6830.

The Australian economy released labor market data which showed that the unemployment rate rose to 5.3% vs. 5.2% in the previous reading last July, thus reading the current reading higher than analysts expected to stabilize at the same previous rate. The Employment Change reading showed that the rise shrank to 34.7K versus 36.4K in July, beating expectations of 15.2K.

On the other hand, investors are currently awaiting the US economy for the release of the current account reading which may reflect a shrinking deficit to $ 127 billion compared to $ 130 billion during the first quarter, in conjunction with the disclosure of the Philadelphia industrial index by the largest industrialized country in the world which may Reflecting the shrinkage widened to 10.9 vs. 16.8 last August.

This comes in conjunction with the issuance of the number of claims applications for the past week on the 14th of this month, which may reflect an increase of 6 thousand applications to 214 thousand applications compared to 204 thousand applications in the previous weekly reading, as may read the index of claims applications for investors for the past week in The seventh of this month increased by two thousand applications to 1,672 thousand applications against 1,670 thousand applications.

Leading indicators, which may show a contraction to 0.1% from 0.5% in July, coinciding with the release of the US housing market data with the release of the Existing Home Sales, which may show a 0.7% decline to 5.39 million versus 2.5% rise at 5.42 million homes in July's prior reading.

This comes just hours after the FOMC meeting, during which the Fed's monetary policy makers approved a 25bp cut in federal funds for the second consecutive meeting to between 1.75% and 2.00%. Expectations, with the disclosure of the Committee's expectations on growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

Technical analysis:

AUDUSD has managed to achieve our first awaited target at 0.6795 and surpass it to stabilize below it, supporting expectations for the continuation of the bearish trend over the intraday and short term, organized within the descending channel shown, waiting to visit the level of 0.6670 as the next major stop.

Therefore, we hold onto our bearish expectations unless 0.6865 is breached and hold above it.

Expected trading range for today is between 0.6730 support and 0.6820 resistance.

Expected trend for today: Bearish.

EURUSD Technical Analysis

The pair remains in a wide range of 1.0995–1.1195 in anticipation of the Fed’s final interest rates decision and the ECB’s economic stimulus measures due from October 1st. If the Fed decides to cut rates by 0.5% at once, which is possible, the pair will grow sharply. At the same time, a decrease by 0.25% will lead to its local decline, since this scenario of the Fed's actions has already been taken into account in the quotes.

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is above the level of 50% and indicates slower growth of the price. Stoch reverse in the overbought zone.

Trade recommendations:

If the Fed reduces interest rates by 0.25%, sell the pair with a possible target of 1.0925 after the pair overcomes the level of 1.0995. Buy if the rates are reduced by 0.5% with a likely price increase to 1.1160.

EUR Analysis

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 its highest since August 27 against the US dollar on the eve of developments and economic data expected on Wednesday by the euro zone economies and the economy American largest economy in the world.

At 05:51 AM GMT the EURUSD rose 0.08% to 1.1010 levels from the opening at 1.1001, after the pair reached a session high of 1.1014, while a low of 1.0998.

Markets in the Eurozone economies as a whole are looking to reveal the final annual CPI reading, which may reflect a stable growth of 1.0%, little changed from the initial reading for August and the previous reading for July, as the reading may show. The core annual index of the same index stabilized growth at 0.9% also unchanged from the previous initial reading and the previous annual reading for the month of July.

This comes before we see the third largest economy of the euro zone Italy, the release of the trade balance, which may show the shrinking of the surplus to 4.80 billion euros from 5.73 billion euros in July, otherwise, we followed on Tuesday the departure of former Italian Prime Minister Matteo Renzi Of the Democratic Party, raising concerns about further political instability in Italy.

Yesterday, the European Parliament also announced that Christine Lagarde was elected ECB Governor by 394 votes to Lagarde against 206 votes. Lagarde is expected to take over the ECB from early November for a period of eight Years after the current governor of the European Central Bank, Mario Draghi, whose term expires at the end of October.

On the other hand, investors are awaiting the US economy to release the housing market data with the release of both the Housing Starts Index and the Building Permits for the month of August. Construction permits are expected to decline 1.3% to 1.31 million versus a rise of 8.4% at 1.32 million. In July, housing starts may show a rise of 5.0% to 1.25 million versus a decline of 4.0% at 1.19 million.

This comes in conjunction with the FOMC meeting in Washington, which is expected to cut interest rates on federal funds by 25 basis points for the second meeting in a row to between 1.75% and 2.00% and is expected to be revealed after the expiration Committee members for growth, inflation and unemployment rates as well as the future of interest rates for the next three years.

Federal Reserve Governor Jerome Powell arrived at the press conference half an hour after the FOMC meeting on the Fed's policy-makers' meeting, which has recently been widely criticized by US President Donald Trump, demanding the Fed and Powell cut back. Interest rates "zero or less".

Technical analysis:

EUR / USD continues to fluctuate at the resistance of the descending channel and remains below it, as SMA 50 meets this resistance to add more strength to it, while Stochastic continues to provide overbought signals.

Therefore, these factors encourage us to continue to favor the bearishness over the coming sessions, with the next main target at 1.0857, while the breach of 1.1080 represents the impulse key to test 1.1180 before any new attempt to decline.

Expected trading range for today is between 1.0950 support and 1.1140 resistance.

Expected trend for today: Bearish.

Gold Analysis

Gold futures fluctuated in a narrow, bullish range during the Asian session, ignoring 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 Wednesday by the US economy, the largest economy in the world, which includes the proceedings of the Federal Open Market Committee and Conference Fed Press Governor Jerome Powell.

Gold futures for December delivery rose 0.07% to trade at $ 1501.09 an ounce compared with the opening at 1501.46 an ounce, while the US dollar index rose 0.09% to 98.29 compared to the opening at 98.21.

Investors are currently awaiting the US economy to release the housing market data with the release of the Housing Starts and Building Permits for August. Construction permits are expected to fall 1.3% to 1.31 million versus a rise of 8.4% at 1.32 million in July. Construction starts may show a rise of 5.0% to 1.25 million versus a decline of 4.0% at 1.19 million.

This comes in conjunction with the FOMC meeting in Washington, which is expected to cut interest rates on federal funds by 25 basis points for the second meeting in a row to between 1.75% and 2.00% and is expected to be revealed after the expiration Committee members for growth, inflation and unemployment rates as well as the future of interest rates for the next three years.

Federal Reserve Governor Jerome Powell arrived at the press conference half an hour after the FOMC meeting on the Fed's policy-makers' meeting, which has recently been widely criticized by US President Donald Trump, demanding the Fed and Powell cut back. Interest rates "zero or less".

Otherwise, markets are looking ahead to the BOJ meeting and the upcoming press conference of Governor Kuroda in Tokyo, amid expectations that if the Fed cut interest rates, about one week after the ECB cut its deposit rate to negative -0.50% With the announcement of the repurchase of the asset purchase program, this could pressure the Bank of Japan to expand stimulus.

In view of the development of trade talks, we followed last Monday, US President Donald Trump said that his country has reached preliminary trade agreements with Japan, and markets are looking forward to launch a new round of trade talks between America and China at the level of deputy officials in Washington tomorrow in preparation for the upcoming high-level talks between the parties With the beginning of next month which aims to resolve the trade disputes between the two largest economies in the world.

On the other hand, we also followed Monday's remarks by US President Trump, which expressed that Iran appears to be behind the attacks on Saudi Arabia, despite the Houthis in Yemen recently claimed responsibility for those attacks, which disrupted about 5% of global oil supplies Trump's recent remarks stressed that he did not want to go to war to reflect a tone less intense than his initial reaction.

Gold futures benefited earlier this week from the recent geopolitical strikes from last weekend's drone attacks on oil production facilities in Saudi Arabia, the world's largest oil exporter, OPEC and the world's third-largest producer. Oil and OPEC's largest, carried out by the Houthis in Yemen.

It is noteworthy that US President Trump said last Sunday that America is "closed and loaded depending on the investigation" that Iran launched an attack on Saudi oil facilities, and US Secretary of Energy Rick Perry yesterday that Iran attacked the Saudi oil facilities and should be held responsible for those attacks, Earlier this week, investors turned liquidity into safe havens, led by gold.

Technical analysis:

Gold is hovering around SMA 50, and remains stable above the main rising trend line, to keep the bullish scenario intact for the coming period, and needs a positive catalyst to support the chances of resuming the upside bias, whose next key targets are at 1524.00 then 1555.00.

Stability above 1485.00 is important to achieve the suggested targets as a breach will pressure the price to start a bearish correction over the intraday basis.

Expected trading range for today is between 1485.00 support and 1525.00 resistance.

Expected trend for today: Bullish.

JPY Analysis

The US dollar fluctuated in a narrow bullish range during the Asian session to witness the bounce for the 13th session in 18 sessions from the lowest since November 9, 2016, indicating its stability near the highest since early August, when it tested the highest since late May against the Japanese yen following the developments and economic data followed by the Japanese economy and on the eve of developments and economic data expected Tuesday by the US economy, the largest economy in the world.

At 06:27 am GMT, the US dollar against the Japanese yen rose 0.06% to 108.19 levels compared to the opening levels at 108.12, after the pair reached its highest level in seven weeks at 108.37, while the lowest level during the session trading at 108.02.

On the other hand, the Japanese Trade Balance report showed that the deficit narrowed to 136 billion yen from 251 billion yen in July, contrary to expectations for a widening deficit to 365 billion yen, while the seasonally adjusted reading of the index showed a widening The deficit hit 131 billion yen from 127 billion yen in July, beating expectations for a widening deficit of 148 billion yen.

On the other hand, investors are awaiting the US economy to release housing market data with the release of both the Housing Starts and Building Permits for August. Construction permits are expected to fall 1.3% to 1.31 million versus an increase of 8.4% at 1.32. In July, the start-up may show a rise of 5.0% to about 1.25 million versus a decline of 4.0% at 1.19 million.

This comes in conjunction with the FOMC meeting in Washington, which is expected to cut interest rates on federal funds by 25 basis points for the second meeting in a row to between 1.75% and 2.00% and is expected to be revealed after the expiration Committee members for growth, inflation and unemployment rates as well as the future of interest rates for the next three years.

Federal Reserve Governor Jerome Powell arrived at the press conference half an hour after the FOMC meeting on the Fed's policy-makers' meeting, which has recently been widely criticized by US President Donald Trump, demanding the Fed and Powell cut back. Interest rates "zero or less".

Technical analysis:

USD / JPY continues to fluctuate at 108.30, noting that the Stochastic is beginning to cross positively on the four-hour time frame, awaiting the price to breach the mentioned level and open the way for our next positive target of 109.30.

Thereby, we will continue to favor the bullishness over intraday and short-term basis unless 107.70 is breached and remains intact with a daily closing below it.

Expected trading range for today is between 107.50 support and 109.00 resistance.

Expected trend for today: Bullish.

AUD Analysis

The Australian dollar fell during the Asian session to see its rebound to the fourth session from its highest since late July against the US dollar following the developments and economic data released by the Australian economy yesterday, which included the release of minutes of the Reserve Bank of Australia meeting held earlier this month and On the eve of economic developments and data expected on Wednesday by the US economy, the largest economy in the world.

At 03:03 AM GMT, the AUDUSD retreated 0.30% to 0.6844 levels, compared to the opening levels at 0.6864, after the pair reached its lowest level during the session at 0.6843, while the highest level at 0.6868.

Yesterday, we followed the release from the Reserve Bank of Australia (RBA) of the minutes of its September 3 meeting, during which the RBA monetary policy makers decided to hold short-term interest rates at their lowest ever level for the second consecutive meeting at 1.00%. It was expected by market analysts at the time.

On the other hand, investors are awaiting the US economy to release the housing market data with the release of both the Housing Starts Index and the Building Permits for the month of August. Construction permits are expected to decline 1.3% to 1.31 million versus a rise of 8.4% at 1.32 million. In July, housing starts may show a rise of 5.0% to 1.25 million versus a decline of 4.0% at 1.19 million.

This comes in conjunction with the FOMC meeting in Washington, which is expected to cut interest rates on federal funds by 25 basis points for the second meeting in a row to between 1.75% and 2.00% and is expected to be revealed after the expiration Committee members for growth, inflation and unemployment rates as well as the future of interest rates for the next three years.

Federal Reserve Governor Jerome Powell arrived at the press conference half an hour after the FOMC meeting on the Fed's policy-makers' meeting, which has recently been widely criticized by US President Donald Trump, demanding the Fed and Powell cut back. Interest rates "zero or less".

AUDUSD is showing a quiet negative move to gradually move away from the descending channel resistance, leaving the downside scenario likely over the coming sessions, with targets starting at 0.6795 and extending to 0.6670 after breaking the previous level.

Stability below 0.6870 is important for the continuation of the expected decline, as a breach will push the price to start a bullish correction in the intraday and short term.

Expected trading range for today is between 0.6760 support and 0.6885 resistance.

Expected trend for today: Bearish.

 AEROFLOT Stock Analysis 

Aeroflot fell below the support level after yesterday's trading opened on a bearish price gap below the 107.70 support level which is near the 50% Fibonacci retracement level.

At the end of last week's trading, the price reached the resistance level of 107.25 and bounced back.

The price is still moving below the 7-20-50 moving averages, which puts pressure on the price to fall further and test support 101.12.

Stochastic is in a downtrend to the oversold area, which increases pressure on the price and pushes it to retest 101.12 support.

Overall trend: Bearish.

Trading ideas for Jonson Jonson (NYSE)

The price pivot zone 129.30 hinders sellers. The formation of the 123 pattern, where segment 1 will break through the inclined channel of the descending structure, will give an opportunity for further growth.

Trading ideas:

Buy strictly on the formation of the ascending structure (pattern 123), where the first impulse breaks through the inclined channel of the descending structure.

Stop Loss mirrored the level of 129.30.

Target levels – 131.50; 136.00; 138.50.

NZDPY Analysis

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

The overall movement is upward. Price pivot zone 68.35 holds back sellers. The pair is trading between the moving averages 135 and 365 . Fractal Sstart formed above 135 EMA. A break of the Fractal Start will result in a N1 level upward pattern within the level N8 wave (C).

Trading recommendations:

Buy Above the round secondary level of 68.80.

Stop Loss - 68.35.

Target levels – 69.50; 70.38 (123.6%of wave F and H8).

Breaking through the level 68.41 means the cancellation of the trading plan.

Call Put levels 

When buying an option against the trend, it is necessary to confirm other technical analysis tools – the presence of divergence, reversal candlestick patterns. Buy against the trend strictly on the 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 uptrend range during the Asian session to see the 12th session rebound from its lowest since November 9, 2016, showing the highest since early August, when it tested the highest since late May Against the Japanese yen amid the lack of economic data on the Japanese economy and on the eve of developments and economic data expected on Tuesday by the US economy.

At 06:27 am GMT, the US dollar against the Japanese yen rose 0.06% to 108.19 levels compared to the opening levels at 108.12, after the pair reached its highest level in seven weeks at 108.37, while the lowest level during the session trading at 108.02.

Investors are awaiting the US economy, the world's largest industrialized countries, for the Industrial Production Index, which may show a 0.2% growth versus a decline of 0.2% in July, while the reading of the energy utilization rate may show growth accelerated to 77.6% vs. 77.5%, before We are witnessing the release of the housing market data with the release of the housing index released by the National Association of Home Builders which may reflect a stability at 66 during September.

Markets are also looking to kick off the FOMC meeting later today and Wednesday in Washington, which is expected to cut interest rates on federal funds by 25 basis points for the second consecutive meeting to between 1.75% and 2.00%. To reveal the expectations of the members of the Committee on growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

Federal Reserve Governor Jerome Powell will hold a press conference tomorrow, half an hour after the FOMC meeting, which has been widely criticized by US President Donald Trump. Powell cut interest rates "to zero or less."

Markets are also looking ahead to Thursday's meeting of the Bank of Japan in Tokyo on expectations that if the Fed cut interest rates, one week after the European Central Bank cut its deposit rate by 10 basis points to minus -0.50% with the announcement of a re-program. Buying 20 billion euros of assets by early November could put pressure on the BoJ to expand stimulus.

In view of the development of trade talks, we followed yesterday, President Trump said that his country has reached preliminary trade agreements with Japan, and markets are looking forward to the launch of a new round of trade talks between America and China at the level of deputy officials in Washington next Thursday in preparation for the upcoming high-level talks Early next month, which aims to resolve trade disputes between the two largest economies in the world.

Technical Analysis

USDJPY resumed significantly positive trading yesterday to begin attempts to breach the 108.30 level, reinforcing expectations for the continuation of the bullish trend over the coming sessions, awaiting confirmation of the breach to open the way towards 109.30 as the next target.

Therefore, we will hold onto our bullish outlook that will prevail within the ascending channel shown above unless the 107.70 level is breached and stability below it.

Expected trading range for today is between 107.70 support and 109.00 resistance.

Expected trend for today: Bullish.

Google's stock has risen again and continues to move within the ascending channel, which included the upward trajectory of the movement.

Moving averages 7-20-50 form support levels near the Fibonacci retracement level of 38.2% for SMA 50 and at 23.6% for SMA 7

Stochastic is in a bullish move that has entered the overbought zone which will increase the positive pressure on the price and push it higher.

The general direction of movement is Bullish

Gold futures fluctuated in a narrow range, tilted lower during the Asian session to witness the bounce for the seventh session in ten sessions from the highest since April 10, 2013, overlooking the decline of the dollar index for the ninth session in eleven sessions from the highest since 12 of May 2017, according to the inverse relationship between them on the eve of developments and economic data expected on Tuesday by the US economy. The largest economy in the world which includes the start of the meeting of the Federal Open Market Committee.

At 04:44 am GMT gold futures for December delivery fell 071% to trade at $ 1493.54 an ounce compared with the opening at 1500.63 an ounce, while the US dollar index fell 0.04% to 98.61 compared to the opening at 98.65.

We followed the People's Bank of China (China's central bank) to facilitate medium-term lending to maintain liquidity with 200 billion yuan ($ 28.27 billion) in loans, but kept the one-year lending rate unchanged at 3.30 percent. Analysts are expected to cut interest rates on new loans by Friday to keep pace with other central banks' monetary easing.

This came hours after the reduction in reserve requirements for banks by the People's Bank of China earlier this week, announced earlier this month. The mandatory reserve ratio for banks has been reduced by 50 basis points, and some eligible banks have been reduced by 100 basis points. Liquidity of 800 billion yuan, or $ 113 billion, will also be provided in the Chinese economy.

We also followed the Reserve Bank of Australia released the minutes of the Reserve Bank of Australia's September 3 meeting, during which the RBA monetary policy makers decided to hold short-term interest rates at all time for the second consecutive meeting at 1.00%. Which was expected by market analysts at the time.

We would like to note that the RBA monetary policy makers have expressed in the minutes that the upward trend in wage growth seems to have stalled and that risks to the global outlook are still tilted to the downside, indicating that it will consider further easing of monetary policy if necessary, with Their assertion that it is reasonable to expect an "extended period" of low interest rates to achieve employment and inflation targets.

Otherwise, markets are looking ahead to the US economy, the world's largest industrialized countries, for the Industrial Production Index which may show a 0.2% growth versus a decline of 0.2% in July, while the Energy Exploitation Rate reading may show that growth accelerated to 77.6% vs. 77.5%. This is before we see the release of the housing market data with the release of the housing index by the National Association of Home Builders which may reflect a stable at 66 during September.

Investors are also awaiting the start of the FOMC meeting later today and Wednesday in Washington, which is expected to cut interest rates on federal funds by 25 basis points for the second consecutive meeting to between 1.75% and 2.00%. With the disclosure of the expectations of members of the Committee on growth rates, inflation and unemployment in addition to the future of interest rates for the next three years.

Federal Reserve Governor Jerome Powell will hold a press conference tomorrow, half an hour after the FOMC meeting, which has been widely criticized by US President Donald Trump. Powell cut interest rates "to zero or less.

Markets are also looking ahead to Thursday's meeting of the Bank of Japan in Tokyo amid expectations that if the Fed cut interest rates, one week after the European Central Bank cut interest rates by 10 basis points to minus -0.50% with the announcement of a re-program. Buying 20 billion euros of assets by early November could put pressure on the BoJ to expand stimulus.

In view of the development of trade talks, we followed yesterday, President Trump said that his country has reached preliminary trade agreements with Japan, and markets are looking forward to the launch of a new round of trade talks between America and China at the level of deputy officials in Washington next Thursday in preparation for the upcoming high-level talks Early next month, which aims to resolve trade disputes between the two largest economies in the world.

On the other hand, we followed yesterday's remarks by US President Trump, in which he said that Iran appears to be behind the attacks on Saudi Arabia, despite the Houthis' recent announcement in Yemen that they were responsible for those attacks that disrupted about five percent of the world oil supplies. Trump's recent statements stressed that he did not want to go to war, reflecting a tone less subtle than his initial reaction.

Gold futures benefited earlier this week from the recent geopolitical strikes from last weekend's drone attacks on oil production facilities in Saudi Arabia, the world's largest oil exporter, OPEC and the third-largest producer. The world's largest oil and OPEC, carried out by the Houthi rebels in Yemen.

President Trump said Sunday that the United States was "locked and loaded based on the investigation" that Iran had launched an attack on Saudi oil facilities. Several administration officials have also recently expressed strong evidence that Iran was behind the attack, not the Houthis, they claimed responsibility for the attacks last Saturday, prompting investors earlier this week to turn liquidity into safe havens.

Technical Analysis 

Gold price did not show any strong movement yesterday, to remain stable near the main rising trend line, noting that the stochastic is gathering positive momentum and approaching oversold areas, waiting to stimulate the price to resume the bullish tendency in the coming sessions.

Therefore, we hold onto our bullish outlook provided that the price holds above 1485.00, noting that our targets start at 1524.00 and extend to 1555.00 after breaching the previous level.

Expected trading range for today is between 1485.00 support and 1525.00 resistance.

Expected trend for today: Bullish.

The single currency of the European Union (EU) has fluctuated in a narrow, bullish range during the Asian session, bouncing back to its third session in four of its lowest since September 3, when it tested its lowest level since May 15, 2017 against the US dollar. On the eve of economic developments and data expected on Tuesday by the economies of the euro zone and the US economy the largest economy in the world.

At 05:51 AM GMT the EURUSD rose 0.08% to 1.1010 levels from the opening at 1.1001, after the pair reached a session high of 1.1014, while a low of 1.0998.

Markets are looking to reveal a statistically significant ZEW Economic Sentiment reading for Germany and the Eurozone economies as a whole, which may reflect a contraction in deflation in Germany and the region as a whole to 38.0 and 37.4 versus 44.1 and 43.6 respectively in August. European Commission President Jean-Claude Juncker said the current Brexit negotiations with British Prime Minister Boris Johnson are good.

On the other hand, investors are awaiting the US economy, the largest industrial countries in the world for the release of the industrial production index, which may show a growth of 0.2% against a decline of 0.2% in July, while the reading of the energy utilization rate may show that growth accelerated to 77.6% against 77.5%, This is before we see the release of the housing market data with the release of the housing index by the National Association of Home Builders which may reflect a stable at 66 during September.

Markets are also looking to kick off the FOMC meeting later today and Wednesday in Washington, which is expected to cut the federal funds rate by 25 basis points for the second consecutive meeting to between 1.75% and 2.00% in conjunction with To reveal the expectations of the members of the Committee on the rates of growth, inflation and unemployment in addition to the future of interest rates for the next three years.

Federal Reserve Governor Jerome Powell will hold a press conference tomorrow, half an hour after the FOMC meeting, which has been widely criticized by US President Donald Trump. Powell cut interest rates "to zero or less."

Technical Analysis

EUR / USD is trading around the 1.1000 level after yesterday's decline, and SMA 50 continues to weigh on the price, while the Stochastic is showing negative signals on the daily time frame.

Therefore, these factors encourage us to continue to favor the bearishness for the upcoming period, which is the next target at 1.0857, noting that stability below 1.1080 represents the first condition for the continuation of the expected decline.

Expected trading range for today is between 1.0910 support and 1.1080 resistance.

Expected trend for today: Bearish.