Analytic reviews

The US dollar fluctuated in a narrow uptrend range during the Asian session to witness the bounce for the sixth session in nine sessions from the lowest since November 9, 2016 against the Japanese yen amid the lack of economic data by the Japanese economy and on the eve of developments and economic data expected on Thursday from In the wake of China's announcement that it will enter a new round of trade talks with the United States by next month in Washington.

At 05:52 AM GMT the USDJPY rose 0.16% to 106.56 levels from 106.39 opening levels, after hitting a session high of 106.75 and a low of 106.33.

Investors in the US economy are looking ahead to the release of preliminary labor market data with the release of the change in the private sector jobs index which may reflect the slowing pace of job creation to 148 thousand jobs compared to 156 thousand jobs in July, hours before The monthly report on non-farm payrolls and unemployment rates as well as the hourly income rate for August.

This comes before we also witnessed by the largest economy in the world to reveal the final reading of the productivity index and the cost of one work, and is expected to show the productivity index slower growth to 2.2% compared to 2.3% growth in the initial reading for the second quarter and against 3.4% growth in the previous reading For the first quarter, while the cost index reading may show growth accelerated to 2.5% compared to 2.4% in the initial reading and against a contraction of 1.6% in the first quarter.

This comes in conjunction with the release of the jobless claims figure for the past week at the end of August, which may reflect stability at 215K, unchanged from the previous weekly reading, while the jobless claims reading for the week past August 24 may show a decline. 10 thousand applications to 1,688 thousand applications compared to 1,698 thousand applications in the previous weekly reading.

The Markit Institute for Services PMI final reading for the US may reflect an expansion to 51.0 compared to 50.9 in August and 53.0 in July, before the ISI reading may be released. It expanded to 54.0 from 53.7 in July, coinciding with the release of factory orders which could show growth accelerated to 1.0% from 0.6% in June.

Beijing has said it will hold trade talks with Washington in early October, boosting investors' hopes of resolving trade disputes between the world's two largest economies, particularly after the start of a trade war with the United States earlier this month. After imposing new tariffs on each other's goods in a new escalation of trade disputes between them.

Technical Analysis

The USDJPY is trading today with a noticeable positivity to test the pivotal resistance of 106.70, accompanied by the emergence of clear negative signs through Stochastic, which is a negative catalyst that is expected to push the price down again and protect the mentioned resistance.

Therefore, we hold onto our bearish outlook, provided that it holds below 106.70, noting that our next major target is 105.05.

Expected trading range for today is between 105.70 support and 107.20 resistance.

Expected trend for today: Bearish.

Pin bar was formed on the H4 timeframe. The Williams percentage range indicator shows the price is in the oversold zone.  The break of the mirror 3604 level will provide an opportunity for growth in a range of divergent level of 3683.

Trading recommendations:

Buy above 3604.0.

Stop Loss under the figure-3576.0.

The goal is 3683.0.

The currency pair is trading in the range of the lower upward price channel. The break of the mirror level 9.6980 will give the formation of the rising pattern 123 from the lower border of the price channel.

Trading recommendations:

Buy above 9.6980.

Stop Loss under the level mirror 9.6344.

When the profit reaches the Stop order to break-even.

Target levels – 9.8380; 9.8910.

EURUSD

The pair is consolidating above 1.1020 amid the publication of economic data from the US and the eurozone. If the NFP shows an increase in new jobs above the forecast, it will maintain the dollar. The weak GDP values of the Eurozone will be also positive. At the same time, opposite values will lead to a local increase in the pair.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI index is located above the level of 50% and moves horizontally. Stoch turn up near the oversold zone.

Trading recommendations:

Act on the basis of published statistics. From negative side for the dollar, the pair may continue to grow to 1.1150. Positive news will lead to a drop in the price to 1.0930.

Gold futures fluctuated in a narrow range, tilted lower during the Asian session to witness the rebound for the second session from the highest since April 11, 2013 amid the rise of the US dollar index for the first time in three sessions according to the inverse relationship between them on the eve of developments and economic data expected today Thursday by the US economy following China's announcement of a new round of trade talks with the United States.

Gold futures for December delivery fell 0.51% to currently trade at $ 1544.62 an ounce compared with the opening at $ 1551.26 an ounce, amid the US dollar index rose 0.09% to 98.49 compared to the opening at 98.40.

Investors in the US economy are looking ahead to the release of preliminary labor market data with the release of the change in the private sector jobs index which may reflect the slowing pace of job creation to 148 thousand jobs compared to 156 thousand jobs in July, hours before The monthly report on non-farm payrolls and unemployment rates as well as the hourly income rate for August.

This comes before we also witnessed by the largest economy in the world to reveal the final reading of the productivity index and the cost of one work, and is expected to show the productivity index slower growth to 2.2% compared to 2.3% growth in the initial reading for the second quarter and against 3.4% growth in the previous reading For the first quarter, while the cost index reading may show growth accelerated to 2.5% compared to 2.4% in the initial reading and against a contraction of 1.6% in the first quarter.

This comes in conjunction with the release of the jobless claims figure for the past week at the end of August, which may reflect stability at 215K, unchanged from the previous weekly reading, while the jobless claims reading for the week past August 24 may show a decline. 10 thousand applications to 1,688 thousand applications compared to 1,698 thousand applications in the previous weekly reading.

The Markit Institute for Services PMI final reading for the US may reflect an expansion to 51.0 compared to 50.9 in August and 53.0 in July, before the ISI reading may be released. It expanded to 54.0 from 53.7 in July, coinciding with the release of factory orders which could show growth accelerated to 1.0% from 0.6% in June.

Otherwise, we followed up yesterday with Beijing reporting that it will hold trade talks with Washington next October. In another context, the British parliament rejected Prime Minister Boris Johnson's request for early elections and further steps to block Britain's exit from the EU without agreement, Yesterday, we also followed Hong Kong's leader, Carrie Lam, formally withdrawing controversial legislation that would have allowed extradition to China.

Technical Analysis

The bullish gold rally stopped at 1557.00 to show a bearish bias as the stochastic negated, where it tested the bullish channel that is now showing and waiting for a positive incentive to push the price to resume the main bullish trend.

In general, we continue to favor the overall bullish trend provided it holds above 1531.75, noting that we are waiting for a breach of 1560.00 to open the way towards 1600.00 which is our next main target.

Expected trading range for today is between 1535.00 support and 1560.00 resistance.

Expected trend for today: Bullish.

The single currency of the European Union fluctuated in a narrow range tilted to decline during the Asian session to witness a rebound from the highest since late August last against the US dollar on the eve of developments and economic data expected on Thursday by Germany, the largest economies of the euro zone and the US economy the world.

At 05:14 am GMT, EUR / USD fell 0.05% to 1.1030 levels from the opening at 1.1035, after hitting a session low of 1.1025, while hitting a one-week high of 1.1039.

Markets are looking ahead to Germany to reveal a factory orders reading which may show a 1.5% decline versus a 2.5% rise in June, while a seasonally adjusted annualized reading of the same index may show a decline to 4.2% versus 3.6%. Yesterday, the European Union's Trade Commission, Cecilia Malmström, reported that there had been little progress with the US on the industrial goods agreement.

On the other hand, investors are awaiting the US economy to release preliminary data for the labor market with the release of the indicator of the change in the private sector jobs, which may reflect the slowing pace of job creation to 148 thousand jobs added from 156 thousand jobs added last July. Hours before the release of the monthly report on non-farm payrolls and unemployment rates in addition to the hourly income rate for August.

This comes before we also witnessed by the largest economy in the world to reveal the final reading of the productivity index and the cost of one work, and is expected to show the productivity index slower growth to 2.2% compared to 2.3% growth in the initial reading for the second quarter and against 3.4% growth in the previous reading For the first quarter, while the cost index reading may show growth accelerated to 2.5% compared to 2.4% in the initial reading and against a contraction of 1.6% in the first quarter.

This comes in conjunction with the release of the jobless claims figure for the past week at the end of August, which may reflect stability at 215K, unchanged from the previous weekly reading, while the jobless claims reading for the week past August 24 may show a decline. 10 thousand applications to 1,688 thousand applications compared to 1,698 thousand applications in the previous weekly reading.

The Markit Institute for Services PMI final reading for the US may reflect an expansion to 51.0 compared to 50.9 in August and 53.0 in July, before the ISI reading may be released. It expanded to 54.0 from 53.7 in July, coinciding with the release of factory orders which could show growth accelerated to 1.0% from 0.6% in June.

Technical Analysis

EUR / USD stabilized above 1.1005, leading to a bullish correction over intraday basis, aiming to test the resistance of the descending channel shown at 1.1135, noting that we will wait for a bearish rebound after touching the mentioned resistance to resume the main bearish trend. Again.

Therefore, the bullish bias is likely for today unless 1.1005 is breached and stability below it again, as breaking this level will push the price to continue the main bearish trend with its next target at 1.0857.

Expected trading range for today is between 1.0940 support and 1.1135 resistance.

Expected trend for today: Temporarily bullish.

Cisco shares continue to fluctuate around support 47.00 after failing to breach the resistance 49.16 to bounce back to support 46.19 after opening trading last week on a falling price gap, surpassing support 51.25

The MAs 20-50 move above the price and form resistance levels and try to prevent it from rising

Stochastic is moving near the oversold area in a sideways path that tends to rise and this will be reflected in the price action as it is possible to witness a new rise in the price and test the resistance level near the moving average 20.

The general trend is to the downside.

The Australian dollar rose during the Asian session to witness a rebound for the third consecutive session from the lowest since August 7, when it tested the lowest since March 18, 2009 against the US dollar following the developments and economic data that followed from the Australian economy and on the threshold Economic developments and data expected on Thursday by the US economy, the largest economy in the world.

At 02:43 am GMT, the Australian dollar against the US dollar rose 0.31% to 0.6818 levels, compared to the opening levels at 0.6797, after the pair achieved its highest since early August at 0.6825, while achieving the lowest during the trading session at 0.6794.

The Australian economy followed the release of the Trade Balance figure which showed that the surplus shrank to A $ 7.27 billion from A $ 7.98 billion in June, surpassing expectations for a surplus of A $ 7.20 million. Hours after the second quarter growth data showed growth in line with expectations.

On the other hand, investors are awaiting the US economy to release preliminary data for the labor market with the release of the indicator of the change in the private sector jobs, which may reflect the slowing pace of job creation to 148 thousand jobs added from 156 thousand jobs added last July. Hours before the release of the monthly report on non-farm payrolls and unemployment rates in addition to the hourly income rate for August.

This comes before we also witnessed by the largest economy in the world to reveal the final reading of the productivity index and the cost of one work, and is expected to show the productivity index slower growth to 2.2% compared to 2.3% growth in the initial reading for the second quarter and against 3.4% growth in the previous reading For the first quarter, while the cost index reading may show growth accelerated to 2.5% compared to 2.4% in the initial reading and against a contraction of 1.6% in the first quarter.

This comes in conjunction with the release of the jobless claims figure for the past week at the end of August, which may reflect stability at 215K, unchanged from the previous weekly reading, while the jobless claims reading for the week past August 24 may show a decline. 10 thousand applications to 1,688 thousand applications compared to 1,698 thousand applications in the previous weekly reading.

The Markit Institute for Services PMI final reading for the US may reflect an expansion to 51.0 compared to 50.9 in August and 53.0 in July, before the ISI reading may be released. It expanded to 54.0 from 53.7 in July, coinciding with the release of factory orders which could show growth accelerated to 1.0% from 0.6% in June.

Technical Analysis

AUDUSD has managed to reach our first awaited target at 0.6830, and we expect the upside bias to continue to test the resistance of the major downside channel at 0.6910 before resuming the bearish main trend again.

Therefore, we will continue to favor the bullishness over the coming sessions unless 0.6740 is breached and stability below it.

Expected trading range for today is between 0.6770 support and 0.6880 resistance.

Expected trend for today: Bullish.

The US dollar fluctuated in a narrow uptrend range during the Asian session to witness the bounce for the sixth session in nine sessions from the lowest since November 9, 2016 against the Japanese yen amid the lack of economic data by the Japanese economy and on the eve of developments and economic data expected on Thursday from In the wake of China's announcement that it will enter a new round of trade talks with the United States by next month in Washington.

At 05:52 AM GMT the USDJPY rose 0.16% to 106.56 levels from 106.39 opening levels, after hitting a session high of 106.75 and a low of 106.33.

Investors in the US economy are looking ahead to the release of preliminary labor market data with the release of the change in the private sector jobs index which may reflect the slowing pace of job creation to 148 thousand jobs compared to 156 thousand jobs in July, hours before The monthly report on non-farm payrolls and unemployment rates as well as the hourly income rate for August.

This comes before we also witnessed by the largest economy in the world to reveal the final reading of the productivity index and the cost of one work, and is expected to show the productivity index slower growth to 2.2% compared to 2.3% growth in the initial reading for the second quarter and against 3.4% growth in the previous reading For the first quarter, while the cost index reading may show growth accelerated to 2.5% compared to 2.4% in the initial reading and against a contraction of 1.6% in the first quarter.

This comes in conjunction with the release of the jobless claims figure for the past week at the end of August, which may reflect stability at 215K, unchanged from the previous weekly reading, while the jobless claims reading for the week past August 24 may show a decline. 10 thousand applications to 1,688 thousand applications compared to 1,698 thousand applications in the previous weekly reading.

The Markit Institute for Services PMI final reading for the US may reflect an expansion to 51.0 compared to 50.9 in August and 53.0 in July, before the ISI reading may be released. It expanded to 54.0 from 53.7 in July, coinciding with the release of factory orders which could show growth accelerated to 1.0% from 0.6% in June.

Beijing has said it will hold trade talks with Washington in early October, boosting investors' hopes of resolving trade disputes between the world's two largest economies, particularly after the start of a trade war with the United States earlier this month. After imposing new tariffs on each other's goods in a new escalation of trade disputes between them.

Technical Analysis

The USDJPY is trading today with a noticeable positivity to test the pivotal resistance of 106.70, accompanied by the emergence of clear negative signs through Stochastic, which is a negative catalyst that is expected to push the price down again and protect the mentioned resistance.

Therefore, we hold onto our bearish outlook, provided that it holds below 106.70, noting that our next major target is 105.05.

Expected trading range for today is between 105.70 support and 107.20 resistance.

Expected trend for today: Bearish.

When buying an option against a trend, it is necessary to confirm other technical analysis tools – the presence of divergence, reversal candlestick patterns. Buy against the trend on a strictly retest level! Buying an option before publishing important economic news is considered risky. The expiration time depends on the strength of the level and confirmation by additional tools of technical and fundamental analysis.