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The single currency of the European Union fell during the Asian session to see its lowest since May 15, 2017 against the US dollar on the eve of developments and economic data expected on Tuesday by the economies of the euro zone and the US economy, the world's largest economy.

At 05:10 am GMT, EUR / USD fell 0.30% to 1.0937 levels from the opening at 1.0970, after the pair reached its lowest level in more than two years at 1.0931, while the highest in session trading at 1.0972.

Markets are looking to reveal the labor market data for Spain, the fourth largest economy in the euro zone with the release of the Unemployment Change, which may reflect an increase of 35.8K versus a decline of 4.3K in July, before we see the Eurozone economies as a whole. The PPI may show a 0.3% growth versus a 0.6% contraction in June.

On the other hand, investors are looking ahead to reveal the final reading of the manufacturing PMI by Markit on the US which may reflect a widening of 50.0 vs. a contraction of 49.9 in the initial reading of last month and versus a widening of 50.4 in July, comes before The Construction Spending reading, which reflects a rise of 0.3% against a decline of 1.3% in June.

Markets from the world's largest industrialized nations are also looking to reveal the ISM Manufacturing Index, which may show a steady expansion at 51.2, little changed from July, while the same price index reading could show contraction shrinking to 47.6 vs. 45.1, up to a member's speech. Federal Open Market Committee and Federal Reserve Bank President Eric Rosengren about the US economy at Stonehill College in Massachusetts.

The EURUSD pair resumed its negative trading yesterday strongly to approach the 1.0900 barrier now, reinforcing expectations that the bearish trend will continue during the coming sessions, which is regulated within the descending channel shown on the chart, waiting to test 1.0857 as the next main stop.

SMA 50 continues to support the suggested bearish wave, keeping in mind that a break of 1.1005 may temporarily stop negative pressure to test 1.1125 then 1.1180 areas before any fresh attempt to fall.

Expected trading range for today is between 1.0850 support and 1.1000 resistance.

Expected trend for today: Bearish.

The Australian dollar fell during the Asian session to witness the lowest since August 26 against the US dollar following the developments and economic data followed by the Australian economy and on the threshold of decisions and directions of the Reserve Bank of Australia and the economic data expected on Tuesday by the US economy, the largest economy in the world.

At 02:54 AM GMT, the Australian dollar against the US dollar fell 0.37% to 0.6691 levels, compared to the opening levels at 0.6716, after the pair reached its lowest level in a week at 0.6691, while achieving the highest during the trading session at 0.6719.

The Australian economy followed the release of the Retail Sales figure which showed a decline of 0.1% versus a rise of 0.4% in June, worse than expectations for slowing growth to 0.2%, in conjunction with the release of the current account reading showed a surplus of 5.9 A $ 1 billion against a deficit of A $ 1.1 billion in the first quarter, beating expectations for a surplus of A $ 1.5 billion.

Otherwise, markets are looking ahead to RBA policymakers' decisions as the Reserve Bank of Australia's interest rate statement is released amid expectations of a second straight meeting after it was cut in the previous two meetings by 25 basis points to 1.00%, before Tomorrow we will witness the release of the second quarter growth data which may reflect the accelerated pace of growth.

On the other hand, investors are looking ahead to reveal the final reading of the manufacturing PMI by Markit on the US which may reflect a widening of 50.0 vs. a contraction of 49.9 in the initial reading of last month and versus a widening of 50.4 in July, comes before The Construction Spending reading, which reflects a rise of 0.3% against a decline of 1.3% in June.

Markets from the world's largest industrialized nations are also looking to reveal the ISM Manufacturing Index, which may show a steady expansion at 51.2, little changed from July, while the same price index reading could show contraction shrinking to 47.6 vs. 45.1, up to a member's speech. Federal Open Market Committee and Federal Reserve Bank President Eric Rosengren about the US economy at Stonehill College in Massachusetts.

By the end of this week, investors will be looking to release US labor market data before Friday's speech by Federal Reserve Governor Jerome Powell and a speech entitled “Economic Outlook and Monetary Policy” at the event hosted by the Swiss Institute for International Studies in Zurich.

Technical Analysis

AUDUSD is resuming its negative trading to surpass the 0.6700 level and settle below it, supporting the continuation of the bearish trend over intraday and short term, paving the way towards achieving our next target at 0.6615.

SMA 50 continues to support the suggested bearish wave, while stability below 0.6740 is a prerequisite for the continuation of the expected decline.

Expected trading range for today is between 0.6630 support and 0.6740 resistance.

Expected trend for today: Bearish.

The US dollar fluctuated in a narrow uptrend range during the Asian session to see its fifth session rebound in seven sessions from its lowest since November 9, 2016 against the Japanese yen following the developments and economic data that followed from the Japanese economy, the world's third largest economy. Economic developments and data expected Tuesday by the world's largest economy.

At 06:22 AM GMT the USDJPY rose 0.04% to 106.28 levels from 106.24 opening levels, after hitting a session high of 106.39 and a low of 106.17.

The Japanese economy followed the release of the Bank of Japan's annual monetary base reading, which showed growth slowed to 2.8% from 3.7% in July, worse than expectations for a 2.9% slowdown. The Japanese central bank has started to use this indicator as its main operational target for the monetary base chart since April 2013.

On the other hand, investors are looking ahead to reveal the final reading of the manufacturing PMI by Markit on the US which may reflect a widening of 50.0 vs. a contraction of 49.9 in the initial reading of last month and versus a widening of 50.4 in July, comes before The Construction Spending reading, which reflects a rise of 0.3% against a decline of 1.3% in June.

Markets from the world's largest industrialized nations are also looking to reveal the ISM Manufacturing Index, which may show a steady expansion at 51.2, little changed from July, while the same price index reading could show contraction shrinking to 47.6 vs. 45.1, up to a member's speech. Federal Open Market Committee and Federal Reserve Bank President Eric Rosengren about the US economy at Stonehill College in Massachusetts.

Technical Analysis

USD / JPY is fluctuating around the 50 EMA recently, and the price remains below 106.70, which makes us hold onto our bearish outlook, targeting the breach of 106.06 to push towards 105.05 as the next major stop.

Keep in mind that breaching 106.70 will stop the negative scenario and lead the price to achieve intraday gains of 107.70 initially.

Expected trading range for today is between 105.40 support and 106.70 resistance.

Expected trend for today: Bearish.

Google shares rose again and managed to enter the rising channel again.

The 20-7 MAs form support levels near the 38.2 Fibonacci retracement level

The bullish stochastic is approaching the overbought area which increases the

positive pressure on the price and pushes it higher.

The general direction of the movement: a bullish path.

GBPUSD

The pair remains under pressure amid the political crisis in Britain due to high risk of no-deal Brexit. Another factor driving the pair’s decline is the demand for the USD as the world reserve currency.

The price is below the lower Bollinger band, below SMA 5 and SMA 14. RSI is located in the oversold zone and dropping. Stoch are also in this zone and declining.

Trading recommendations:

Sell the pair with a local target of 1.1900 after its decline below 1.1980.

The Australian dollar fluctuated in a narrow uptrend range during the Asian session to witness the rebound for the second consecutive session from the lowest since August 26 against the US dollar following the developments and economic data followed by Monday by the Australian economy and amid the lack of economic data early this Week by the US economy due to the Labor Day holiday there.

At 02:45 am GMT, the Australian dollar against the US dollar rose 0.09% to 0.6728 levels compared to the opening levels at 0.6722, after the pair achieved the highest during the session at 0.6735, while the lowest level at 0.6715, knowing that the pair The week and September started a bearish price gap after closing last week and month at 0.6733.

The Australian Manufacturing Index was released by the Australian Industrial Group (AIG) which showed an expansion to 53.1 vs. 51.3 last July, before we saw the release of the inflation index reading by the Melbourne Institute (MI). ), Which showed steadyness at zero versus 0.3% growth in July.

In addition to the disclosure of the operating profit index of companies which showed accelerated growth to 4.5% compared to 1.7% in the first quarter of last year, exceeding expectations that accelerated the pace of growth to 2.1%, and this coincided with the release of preliminary Australian labor market data with the release of The jobless reading showed a 2.8% decline versus a 0.8% gain in July.

On the other hand, markets are looking forward to the release of several important economic data for the Australian economy tomorrow, including the decisions and directions of monetary policy makers at the Reserve Bank of Australia with the release of the RBA interest rate statement amid expectations of stabilizing for the second consecutive meeting after it was cut in the previous two meetings 25 basis points to 1.00%, before Wednesday's release of Q2 growth data which may reflect the accelerated pace of growth.

On the other hand, by the end of this week, the week looks forward to the release of the US labor market data before we see on Friday the upcoming speech of Fed Governor Jerome Powell and deliver a speech entitled "Economic Outlook and Monetary Policy" at the event hosted by the Swiss Institute for International Studies in Switzerland. Zurich.

Technical Analysis

AUDUSD remains stable without supporting the descending triangle, and the negative effect of this pattern remains valid, supported by negative pressure from SMA 50, pending resumption of the bearish trend which starts with breaking targets at 0.6700 to open the way towards 0.6615.

Recall that the continuation of the bearish wave depends on stability below 0.6830.

Expected trading range for today is between 0.6670 support and 0.6760 resistance.

Expected trend for today: Bearish.

The single currency of the European Union fluctuated in a narrow range upward during the Asian session to witness the rebound to the second session of the lowest since May 15, 2017 against the US dollar on the eve of developments and economic data expected on Monday by the euro zone economies amid tightness Economic data over the weekend and this month by the US economy due to the Labor Day holiday there.

At 04:50 am GMT, the euro against the US dollar rose by 0.04% to 1.0991 levels compared to the opening at 1.0987, after the pair reached its highest level during the trading session at 1.0999, while the lowest level at 1.0984, knowing that the pair The week and September started a bullish price gap after closing last week and month at 1.0982.

Markets are looking to reveal the manufacturing sector data from Spain, the fourth largest economy in the euro zone with the release of the manufacturing PMI which may reflect a contraction in contraction to 48.6 vs. 48.2 in July, before we see the release of the same indicator for Italy third. The region's largest economy may also reflect a contraction in contraction to 48.6 from 48.2 in July.

This comes before we see the final reading of the manufacturing PMI for France, the second largest economy in the euro zone and Germany, the largest economies in the region as well as the economies of the euro area as a whole, which may reflect the stability of the expansion at 51.0 in France against the contraction of 49.7 in July, and the stability of deflation At 43.6 in Germany versus 43.2 in July, deflation also stabilized at 47.0 in the region as a whole versus 46.5.

On the other hand, we followed last Friday ECB members Ewald Nowotny and Spini Lottenschleeger separately expressed their exclusion of the ECB's reactivation of the monetary easing and bond purchase program, while stating that the ECB may modify the existing instruments to some extent and that it may Take into account the reduction of the leader before going to re-adopt the cash facilitation and asset purchase program.

On the other hand, by the end of this week, the week looks forward to the release of the US labor market data before we see on Friday the upcoming speech of Fed Governor Jerome Powell and deliver a speech entitled "Economic Outlook and Monetary Policy" at the event hosted by the Swiss Institute for International Studies in Switzerland, Zurich.

Technical Analysis

The EURUSD closed last week below 1.1000, reinforcing expectations for the bearishness to continue in the intraday and short-term, and the way is open for further declines towards our next major target of 1.0857.

Therefore, we are waiting for more negative trading over the coming sessions supported by SMA 50, keeping in mind that the breach of 1.1040 may push the price to test 1.1100 areas and then 1.1180 before any new attempt to decline.

Expected trading range for today is between 1.0900 support and 1.1050 resistance.

Expected trend for today: Bearish.

Gold futures fluctuated in a narrow range, tilted lower during the Asian session to witness the bounce for the fifth session in six sessions from the highest since April 11, 2013, ignoring the rebound of the US dollar index for the second session from the highest since May 15 In 2017, according to the inverse relationship between them amid the scarcity of economic data at the weekend and this month by the US economy because of the Labor Day holiday on Monday there and in the wake of the developments of trade disputes between Washington and Beijing.

At 04:09 am GMT, gold futures for December delivery fell 0.03% to trade at $ 1523.40 an ounce compared to the opening at $ 1529.42 an ounce, knowing that the contracts started the session on a bullish gap after the close of trading Last week and month at $ 1,529.40 an ounce, while the dollar index fell 0.01% to 98.82 compared to the opening at 98.83.

In early September, we followed the entry into force of the new US tariffs on Chinese goods worth $ 112 billion, including shoes, smart watches and flat-screen TVs. China also began imposing retaliatory tariffs on US goods and commodities on Sunday. $ 75 billion in escalation of the trade war between Washington and Beijing, and it also coincided with escalating tensions in Hong Kong.

President Donald Trump on Sunday noted that trade negotiations between China and China are still planned for September, and that by the middle of this month new US tariffs of 15 percent on Chinese goods and commodities are also expected to be imposed. $ 160 billion, including laptops and mobile phones, on September 15.

Meanwhile, the State Council also noted yesterday that it will increase economic policy adjustments, hours after the readings of two manufacturing and service PMIs by the China Federation of Logistics and Purchasing (CFLP) last Saturday showed the manufacturing sector contracted for the fourth consecutive month and the service sector expanded significantly. It exceeded expectations last August.

By the end of this week, the week looks forward to the release of the US labor market data, before we see the upcoming speech of Fed Governor Jerome Powell and a speech entitled "Economic Outlook and Monetary Policy" at the event hosted by the Swiss Institute for International Studies in Switzerland. Zurich.

Technical Analysis

The price of gold has maintained its consolidation above 1517.25, and offers positive trades in an attempt to regain the main bullish trend, supported by the positive stochastic, to keep the overall positive scenario valid for the next period, waiting for the test of 1560.00 initially.

Keep in mind that breaching 1517.25 and holding below it will put pressure on the price to incur further losses targeting 1508.30 levels and may extend to 1493.80 before any new attempt to rise.

Expected trading range for today is between 1517.00 support and 1545.00 resistance.

Expected trend for today: Bullish.

Sber Bank managed to get out of the bearish channel which was trading at the end of last week's trading.

The price is moving above the 7-20 MAs that form support levels while the 50 MA remains resistance levels.

Stochastic is near the overbought zone on an uptrend near this area and entering it will stimulate the price to rise further.

The expected movement between 210.8 support and 235.96 resistance.

Overall trend: Bearish.

USDJPY has resumed its negative trading after testing 106.70 in the previous sessions, and starts to press 106.06, waiting for the breach to confirm opening the way towards 105.05 which is the next major target.

Therefore, the bearish scenario will remain valid during the upcoming sessions unless 106.70 is breached and stability above it.

Expected trading range for today is between 105.40 support and 106.70 resistance.

Expected trend for today: Bearish.