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The Australian dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement of the second session from its lowest since September 22 against the US dollar after the developments and economic data that they followed on the Australian economy and on the cusp of developments and economic data expected today, Friday, by the largest American economy Economy in the world.

At exactly 04:02 AM GMT, the Australian dollar against the US dollar fell 0.32% to 0.7162 levels compared to the opening levels at 0.7185, after the pair achieved its lowest level during the session's trading at 0.7158, while it achieved its highest at 0.7190.

We have followed up on the Australian Bureau of Statistics' disclosure of the final, seasonally adjusted reading of the retail sales index, which showed a 4.0% decline compared to the previous initial reading for the month of August and expectations for a 4.2% decline and 3.2% rise last July. The director of the quarterly economic surveys Ben James said. Victoria, which faced phase III and IV restrictions in August, saw a 12.6% decline in seasonally adjusted terms. "

On the other hand, investors are currently awaiting the US economy to disclose labor market data, with the release of the employment change index reading for the sectors other than agricultural, which may reflect 900,000 jobs added compared to 1,371,000 jobs added last August, while the average index reading may indicate Hourly income growth accelerated to 0.5% from 0.4%. This is with the unemployment rate reading showing a decline to 8.2%, compared to 8.4% in August.

This comes in conjunction with the speech of a member of the Federal Open Market Committee and Chairman of the Philadelphia Federal Reserve, Patrick Harker, about the labor market in a webinar, and before we witness by the largest industrialized country in the world the disclosure of the factory orders index reading, which may show a slowdown in growth to 1.5% compared to 6.4% in July, coinciding with the release of the University of Michigan's index of consumer confidence and consumer expectations of inflation for the past month.

Other than that, we followed yesterday the approval of the US House of Representatives bill for a fiscal stimulus package worth $ 2.2 trillion supported by Democrats, but the bill was notably rejected by Republicans, and this came after the failure of talks between House Speaker Nancy Pelosi and the US Treasury Secretary Stephen Mnuchin, in order to reach a bipartisan agreement on the second stimulus package to face the repercussions of the Corona pandemic.

In another context, we followed the tweet of US President Donald Trump on Twitter, in which he expressed that the results of the Corona virus test for his help, Hope Hicks, were positive, and that he and First Lady Melania Trump are waiting for their test results and that they will start the quarantine process, according to the latest figures issued by the World Health Organization The number of HIV cases increased to more than 33.84 million and 1,010,634 people died in 235 countries.

Technical analysis

The Australian dollar against the US dollar found it difficult to confirm the breach of the 0.7190 level, as it found strong resistance there, to start rebounding to the downside, indicating the resumption of the bearish corrective scenario, supported by the negativity of the stochastic indicator.

Thus, the bearish bias will be expected for today, which targets 0.7100 then 0.6964 as the next major stops, noting that the continuation of the bearish trend depends on stability below 0.7190.

The expected trading range for today is between 0.7100 support and 0.7200 resistance.

The expected general trend for today: Bearish.

Gold futures contracts fell by nearly 1 percent during the Asian session amid the US dollar index rebounding for the second session from its lowest since September 22, according to the inverse relationship between them on the cusp of developments and economic data expected today, Friday, by the US economy, the largest economy in the world, and amid the market evaluation. The developments of the US Congress reaching a stimulus package and the severity of the second wave of the Coronavirus.

At 04:24 am GMT, gold futures contracts for December delivery fell 0.66% to trade at $ 1,898.50 an ounce compared to the opening at $ 1,911.00 per ounce, knowing that the contracts started the session on a downward price gap after it was concluded Yesterday's trading at $ 1,916.30 an ounce, amid the US dollar index rose 0.21% to 93.93 compared to the opening at 93.74.

Investors are currently awaiting the US economy to disclose labor market data with the release of the employment change index reading for sectors other than agricultural, which may reflect 900 thousand added jobs compared to 1,371 thousand jobs added in August, while the average hourly income index reading may indicate an acceleration. Growth to 0.5% versus 0.4%. This is with the unemployment rate reading showing a decline to 8.2%, compared to 8.4% in August.

This comes in conjunction with the speech of a member of the Federal Open Market Committee and Chairman of the Philadelphia Federal Reserve, Patrick Harker, about the labor market in a webinar, and before we witness by the largest industrialized country in the world the disclosure of the factory orders index reading, which may show a slowdown in growth to 1.5% compared to 6.4% in July, coinciding with the release of the University of Michigan's index of consumer confidence and consumer expectations of inflation for the past month.

Other than that, we followed yesterday the approval of the US House of Representatives bill for a fiscal stimulus package worth $ 2.2 trillion supported by Democrats, but the bill was notably rejected by Republicans, and this came after the failure of talks between House Speaker Nancy Pelosi and the US Treasury Secretary Stephen Mnuchin, in order to reach a bipartisan agreement on the second stimulus package to face the repercussions of the Corona pandemic.

In another context, we just followed a tweet by US President Donald Trump on Twitter, in which he expressed that the results of the Coronavirus test for his help Hope Hicks were positive, and that he and First Lady Melania Trump are waiting for their test results and that they will start the quarantine process, according to the latest figures issued by the Health Organization The global number of HIV cases increased to more than 33.84 million and 1,010,634 people were killed in 235 countries.

Technical analysis

Gold price made an attempt to breach the level of 1901.80, but it starts today with a noticeable bearish tendency to move away from this level, which maintains the bearish trend scenario effective for the upcoming period, which targets 1877.00 then 1860.90 as the next major stations.

The stochastic oscillator is providing negative signals that support the expected decline, which will remain valid as long as 1901.80 is not breached and stability above it.

The expected trading range for today is between 1870.00 support and 1910.00 resistance.

The expected general trend for today: Bearish.

The US dollar fell during the Asian session, to witness its rebound for the second session in three sessions from its highest since September 15 against the Japanese yen, following the developments and economic data that they followed on the Japanese economy and on the cusp of economic developments and data expected today, Friday, by the US economy, the largest economy in the world. And in the midst of the markets ’evaluation of the developments of the Congress’s arrival to the stimulus package and the severity of the second wave of the Corona virus.

At exactly 06:56 am GMT, the US dollar against the Japanese yen declined by 0.53% to 104.97 levels, after the pair achieved its lowest level since the 23rd of this month at 104.94, while the pair achieved its highest during the session's trading at 105.67.

We followed up on the Japanese economy, the release of the unemployment rate reading, which showed a rise to 3.0%, in line with expectations, compared to 2.9% in July, and this came before the annual reading of the monetary base index showed that growth accelerated to 14.3% compared to 11.5% in August, surpassing Expectations are for a growth of 11.9%, and the release of the consumer confidence reading, which indicated a contraction of the contraction to 32.7 from 29.3 in August, beating expectations of 31.6.

On the other hand, investors are currently awaiting the US economy to disclose labor market data, with the release of the employment change index reading for the sectors other than agricultural, which may reflect 900,000 jobs added compared to 1,371,000 jobs added last August, while the average index reading may indicate Hourly income growth accelerated to 0.5% from 0.4%. This is with the unemployment rate reading showing a decline to 8.2%, compared to 8.4% in August.

This comes in conjunction with the speech of a member of the Federal Open Market Committee and Chairman of the Philadelphia Federal Reserve, Patrick Harker, about the labor market in a webinar, and before we witness by the largest industrialized country in the world the disclosure of the factory orders index reading, which may show a slowdown in growth to 1.5% compared to 6.4% in July, coinciding with the release of the University of Michigan's index of consumer confidence and consumer expectations of inflation for the past month.

Other than that, we followed yesterday the approval of the US House of Representatives bill for a fiscal stimulus package worth $ 2.2 trillion supported by Democrats, but the bill was notably rejected by Republicans, and this came after the failure of talks between House Speaker Nancy Pelosi and the US Treasury Secretary Stephen Mnuchin, in order to reach a bipartisan agreement on the second stimulus package to face the repercussions of the Corona pandemic.

In another context, we have just followed his tweet by US President Donald Trump on Twitter, in which he expressed that the results of the Corona virus test for his help, Hope Hicks, were positive, and that he and First Lady Melania Trump are waiting for their test results and that they will start the quarantine process, according to the latest figures issued by the organization Global Health The number of HIV cases increased to more than 33.84 million, and 1,010,634 people were killed in 235 countries.

Technical analysis

The dollar versus the yen has shown sideways and narrow-range trading since yesterday, hovering around the resistance line that appears in the image, and it gets positive support from the MA 50, waiting for the bullish bias to resume to visit 106.44, which represents our main positive target.

Therefore, we will maintain our bullish expectations over the intraday term, reminding you that the continuation of the expected rise requires stability above 105.20.

The expected trading range for today is between 105.00 support and 106.44 resistance.

The expected general trend for today: Bullish.

Share continues with the upward movement, as the price is testing the resistance 340.85 after testing the support level of 330.70 to the downside and reaching the support level near the 50 SMA. Which is moving near the major support at 330.50.

The stochastic oscillator is on a downward path, and this coincides with the price test of the support level and the 20-50 moving averages

The expected trading range is between 301.40 support and 350.50 resistance

The expected general trend for today: Bullish.

#VOW3

The support level of 131.80 is holding back sellers. The descending pattern is truncated. Awesome Oscillator indicates a bullish divergence.

Trading recommendations:

Buy when an ascending wave pattern is formed, where the wave (a) breaks through the inclined channel of the descending truncated pattern.

Stop Loss at the local minimum (131.80).

Target levels: 139.15; 152.42.

GBPUSD

The currency pair is trading in the range of 365 and 135 moving averages. The inclined channel of the ascending truncated pattern is broken. Presumably, a descending wave pattern is being formed within the general downtrend.

GBPUSD rate online:  monitor the price movement.

Trading recommendations:

Sell on the breakout of 1.2835 (when a descending pattern is formed).

Stop Loss: 1.2978.

Target levels: 1.2690; 1.2500.

EURUSD

The pair is consolidating in a narrow range of 1.1700–1.1750 ahead of the new US employment data. If the numbers are higher than expected, then the pair will go up amid the rising demand for risk assets following a period of warm-up and decline. If the numbers are low, the opposite is expected.

Technical side:

The price is above the lower Bollinger band, above SMA 5 and SMA 14. RSI is above the 50% level and is moving horizontally. Stoch are below the 50% level and uninformative.

EURUSD rate online: monitor the movement of the pair in real time.

Trading recommendations:

Sell the pair with its probable decline to 1.1615 after a decline below 1.1700. In the opposite scenario, buy after it goes above 1.1750 with a likely increase to 1.1810.

Thursday, October 1st, today’s news—new eurozone data shows a recovery of growth in the manufacturing sector in Germany and France. This fueled the rise in the European markets, another factor is the Wall Street rally caused by the hopes of a fiscal stimulus deal in Q4, dollar is weaker as a safe haven currency. The price of Brent oil is $42.06, WTI—$39.98, EUR/USD is at 1.1741, GBP/USD—1.2836, gold is $1,900.65 per ounce.

The Australian dollar fluctuated in a narrow range slanting to an upward trend during the Asian session, to witness its retracement to the fifth session from its lowest since July 20 against the US dollar following the developments and economic data that they followed on the Australian economy and on the cusp of economic developments and data expected today, Thursday, by the largest US economy Economy in the World which includes the speech of members of the Federal Open Market Committee.

At exactly 03:50 am GMT, the Australian dollar against the US dollar rose 0.24% to 0.7179 levels compared to opening levels at 0.7162, after the pair achieved its highest level since September 22 at 0.7181, while it reached its lowest level at 0.7155. .

We followed up on the Australian economy the release of the manufacturing index reading by the Australian Industrial Group (AIG), which showed the expansion of the contraction to a value of 46.7 compared to a value of 49.3 in the previous reading for the month of August, and we would like to point out that the release of the reading is less than a value of 50 that reflects The sector is shrinking, while its issuance at a value of 50 or higher reflects the breadth of the sector.

On the other hand, investors are currently awaiting the US economy to unveil data on personal spending and income, which may reflect a slowdown in the growth of personal spending to 0.7% compared to 1.9% in July, and a decline of 2.0% in personal income compared to a rise of 0.4% in July. Meanwhile, the core PCE reading may indicate that growth remained stable at 0.3% in August.

This comes in conjunction with the release of the aid requests index reading for the past week on September 26, which may reflect a decrease of 20 thousand requests to 850 thousand applications compared to 870 thousand applications in the previous weekly reading. The same month, a decrease of 355 thousand applications to 12,225 thousand applications compared to 12,580 thousand applications.

Up to the disclosure of the final reading of the Manufacturing PMI by Markit from the United States, which may reflect the stability of the expansion at a value of 53.5, unchanged from the initial reading for the past month and compared to 53.1 in August, before we also witness the American economy the release of The construction spending index reading, which shows growth accelerating to 0.8%, compared to 0.1% in July.

This comes in conjunction with the disclosure by the largest industrialized country in the world of a reading of the Industrial Supply Institute index, which may show that the expansion has stabilized at a value of 56.0 without little change than it was in the previous reading for the month of August, while the reading of the same index measured by prices may indicate that the breadth has decreased This amounted to 59.0 versus 59.5 in August.

Markets are also looking forward to the FOMC members ’speech, as New York Federal Reserve Chairman John Williams will deliver opening remarks at the New York Federal Reserve’s research conference on FinTech, before we witness Fed Deputy Governor Michael Bowman participating in a panel discussion. Titled "The Important Role of Community Banks in Ensuring Urgent Access to Mortgage Credit" in Montana.

Technical analysis

The Australian dollar against the US dollar managed to reach our awaited positive target at 0.7190, and it gets positive support from the 50 moving average, which supports the chances of surpassing the aforementioned level and paving the way for achieving more expected rise in the coming period, paving the way to restore the main bullish trend again.

From here, we expect to witness additional positive trading today, and the next targets start at 0.7300 and extend to 0.7413, bearing in mind that failure to surpass 0.7190 will pressure the price to bounce to the downside and resume the bearish corrective scenario again.

The expected trading range for today is between 0.7120 support and 0.7250 resistance.

The expected general trend for today: Bullish.

Futures contracts for gold prices fluctuated in a narrow range tending to rise during the Asian session, to witness a rebound to the fourth in six sessions from the lowest since July 22, amid the bounce of the US dollar index to the fifth session from its highest since the 24th of the same month according to the inverse relationship between them on the cusp Economic developments and data expected today, Thursday, by the US economy, the largest economy in the world, which includes speeches by members of the Federal Open Market Committee.

At exactly 05:14 am GMT, gold futures contracts for December delivery rose 0.31% to trade at $ 1,897.00 per ounce compared to the opening at $ 1,891.20 per ounce, knowing that the contracts started the session on a downward price gap after it was concluded Yesterday's trading at $ 1,895.50 an ounce, amid the US dollar index retreating 0.12% to 93.71 compared to the opening at 93.82.

Investors are currently awaiting the US economy to disclose personal spending and income data, which may reflect a slowdown in the growth of personal spending to 0.7% compared to 1.9% in July, and a decline in personal income of 2.0% compared to a rise of 0.4% in July. The core personal consumption expenditures index reading stabilized growth at 0.3% last August.

This comes in conjunction with the release of the aid requests index reading for the past week on September 26th, which may reflect a decrease of 20 thousand requests to 850 thousand applications compared to 870 thousand applications in the previous weekly reading, and the reading of continuous aid requests for the past week may appear on 19 of The same month, a decrease of 355 thousand applications to 12,225 thousand applications compared to 12,580 thousand applications.

Up to the disclosure of the final reading of the Manufacturing PMI by Markit from the United States, which may reflect the stability of the expansion at a value of 53.5, unchanged from the initial reading for the past month and compared to 53.1 in August, before we also witness the American economy the release of The construction spending index reading, which shows growth accelerating to 0.8%, compared to 0.1% in July.

This also comes in conjunction with the disclosure by the largest industrial country in the world of a reading of the Industrial Supply Institute index, which may show the stability of the expansion at a value of 56.0 without little change than it was in the previous reading for the month of August, while the reading of the same index measured by prices may show a contraction Widening to 59.0, compared to 59.5 in August.

Later today, markets are looking forward to a speech by members of the Federal Open Market Committee, as New York Federal Reserve Chairman John Williams will deliver opening remarks at the New York Bank Research Conference on "Fin-Tech", before we see Fed Deputy Governor Michael Bowman participating in an episode. Discussion titled "The Important Role of Community Banks in Ensuring Urgent Access to Mortgage Credit" in Montana.

Technical analysis

Gold price fluctuates around SMA 50, and maintains its stability below 1901.80 until now, which maintains the bearish trend scenario valid and effective for the upcoming period, awaiting a visit to levels of 1877.00 then 1860.90 as the next major stations.

Keep in mind that stability below 1901.80 is important for the continuation of the expected decline, as breaching it will stop the expected decline and lead the price to present new recovery attempts and open the way to head towards areas of 1934.86 initially.

The expected trading range for today is between 1870.00 support and 1910.00 resistance.

The expected general trend for today: Bearish.