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Gold futures fluctuated in a narrow range slanting to an upward trend during the Asian session, to witness its rebound for the second session from its lowest since the 27th of last August, overlooking the bounce of the US dollar index for the fifth consecutive session from its lowest since late April of 2018 according to For the inverse relationship between them.

This comes after the economic developments and data that they followed today, Monday, on the Chinese economy, the largest consumer of minerals in the world, and amid a scarcity of economic data at the beginning of this week by the US economy due to the Labor Day holiday in the United States and in the shadow of market pricing, following the escalation of tensions between Washington and Beijing.

At exactly 05:42 am GMT, gold futures contracts for December delivery rose 0.14% to trade at $ 1,940.80 an ounce, compared to the opening at $ 1,938.00 per ounce, knowing that the contracts started the session on a rising price gap after it was concluded Last week's trading at $ 1,934.30 per ounce, with the US dollar index declining 0.07% to 92.77 compared to the opening at 92.84.

We have followed up on the disclosure of the General Administration of Customs in China of reading the Trade Balance Index, which showed a narrowing of the surplus to a value of 417 billion yuan, equivalent to $ 58.9 billion, against a surplus of 442 billion yuan, equivalent to $ 62.3 billion, last July, exceeding expectations Which indicated a narrowing of the surplus to 385 billion yuan, equivalent to $ 49.8 billion, with the acceleration of export growth and the widening decline in imports during the past month.

Technical analysis

The price of gold presented noticeable negative trades in the past sessions and tried to break the 1934.86 level, but we notice that the price starts positively today to trade above the aforementioned level and remains inside the main ascending channel, which keeps the main bullish trend scenario valid and effective for the upcoming period, which targets 1967.90 then 2008.80 as stops Next major.

The breach of 1947.00 will make it easier for the price to continue rising and achieving the aforementioned targets, while the stability of the daily closing above 1934.86 represents an important condition for the continuation of the expected bullish trend.

The expected trading range for today is between 1915.00 support and 1970.00 resistance.

The expected general trend for today: Bullish.

The US dollar fluctuated in a narrow range that tends to rise during the Asian session, to witness its retracement of the seventh session from its lowest since August 19, when it tested its lowest since late July against the Japanese yen following the developments and economic data that followed today, Monday, on the Japanese economy and amid Tight economic data early this week by the US economy, the largest in the world, due to the Labor Day holiday in America.

At 06:50 a.m. GMT, the US dollar against the Japanese yen rose by 0.01% to 106.28 levels compared to opening levels at 106.27 after the pair achieved its highest level during the session's trading at 106.38, while it achieved the lowest at 106.22, knowing that The pair started the session on a rising gap after ending last week’s trading at 106.24 levels.

We have followed up on the Japanese economy, the second-largest in Asia and the third-largest in the world, the disclosure of the preliminary reading of the leading indicators, which showed an acceleration of growth to a value of 86.9 compared to 83.8 last June. Other than that, Japan is still looking for a new prime minister to succeed the president. The Japanese minister who recently announced surprisingly his resignation due to health reasons.

Technical analysis

The dollar versus yen pair continues to test 106.44 and maintains its stability below it, which keeps our bearish expectations valid in the short intraday term, waiting for a negative stimulus to push the price to resume the bearish trend, whose next main target is at 105.20.

Keep in mind that failure to hold below 106.44, breaching it and holding steady with a daily close above it will stop the downside expectations and lead the price to turn higher.

The expected trading range for today is between 105.50 support and 106.70 resistance.

The expected general trend for today: Bearish.

EURUSD

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. The descending truncated H4 level pattern ended with the breakout of the inclined channel. A bullish divergence’s formed on Awesome Oscillator. A breakout of the resistance level of 1.1855 will result in the formation of an ascending wave pattern.

EURUSD rate online: monitor the price movement in real time.

Trading recommendations:

Buy above 1.1855.

Stop Loss: 1.1756.

Target levels: 1.1953; 1.1996.

#IBM

The price pivot zone of 121.14 is holding back sellers. The inclined channel of the outgoing pattern is broken. A breakout of the resistance level of 123.44 will result in the formation of a 1-2-3 upward pattern.

Trading recommendations:

Buy above 123.44.

Stop Loss: 121.14.

Target levels: 126.71; 130.00.

AUDUSD

The pair is consolidating above the support level of 0.7265 during the public holiday in the US and under the influence of competing factors: the Fed’s soft monetary policy stifles growth, while the strong technical oversold condition prevents the price from dropping.

Technical side:

The price is located below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is turning down. Stoch are also reversing downwards.

AUDUSD rate online: monitor the price movement in real time.

Trading recommendations:

If the price drops below 0.7265, it will go further down 0.7200.

Friday, September 4th, today’s news—a major drop hit the American markets, Dow futures are down over 800 points, S&P 500 and Nasdaq Composite down 3.5% and 5% respectively. Negative trends also dominate the European and Asian markets, the US dollar is rising ahead of the employment data release, oil is falling amid the weak demand. The price of Brent oil is $44.22, WTI—$41.56. EUR/USD is at 1.1841 GBP/USD—1.3295, gold is $1,941.05 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

AUDUSD analysis

The overall trend is upward. The currency pair is trading in the range of 365 and 135 moving averages. Awesome Oscillator indicates a bullish divergence, while Stochastic Oscillator indicates an oversold condition. Keep track of the price in real time.

Trading recommendations: buy when an ascending wave pattern is formed, where the wave (A) breaks through the inclined channel of the descending pattern.

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Trading ideas for Cigna Corp. (NYSE)

The support level of 171.00 is holding back sellers. A descending truncated pattern has formed. A bullish divergence has formed on Awesome Oscillator. A breakout of the resistance level of 185.24 will result in the formation of an ascending wave pattern.

Trading recommendations: buy above 185.24; Stop Loss: 171.00; the target is 215.56.

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EURUSD technical analysis

Today, the market is focused on the US employment data. If the number of new jobs is higher than predicted, the pair may be supported as the demand for risk assets grows. At the same time, negative figures may put pressure on the pair, but it will be limited due to the fundamental weakness of the US currency. Keep track of the price in real time.

Trading recommendations: if the price drops below 1.1835, it will go further down to 1.1795. Meanwhile, in case of positive data, the pair will likely grow to 1.1900.

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^{*Trading recommendations offered by analysts do not constitute a solicitation. Before starting to trade on currency exchange markets, please make sure that you understand the risks connected with the use of leverage and that you have sufficient level of training.}

The single currency, the euro, fluctuated in a narrow range that tends to decline during the Asian session, to witness its rebound for the fourth consecutive session from its high since the second of May of 2018 against the US dollar on the cusp of developments and economic data expected on Friday by the economies of the euro area and the US economy is greater Economy in the world.

At exactly 05:59 AM GMT, the euro pair fell against the US dollar by 0.01% to 1.1851 levels, compared to the opening levels at 1.1852, after the pair achieved its lowest level during the session's trading at 1.1839, while it achieved its highest at 1.1858.

The markets are looking forward to Germany, the largest economy in the euro area, for the release of the factory orders reading, which may show a slowdown in growth to 5.1% compared to 27.9% last June, while the annual reading of the same index may indicate the widening of the decline to 20.4% compared to 11.3%, before France, the second-largest economy in the region, to witness the release of the Treasury budget reading for August.

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 1,375,000 added jobs compared to 1,763,000 jobs added in July, while the average income index reading may indicate In the hourly stability at zero levels, compared to 0.2%. This is with the unemployment rate reading showing a decline to 9.8% from 10.2% in July.

Technical analysis

The euro against the dollar began to rebound to the upside after approaching the support of the main ascending channel that appears in the image, indicating that the price is on its way to resume the main bullish trend, and according to the rules of trading inside price channels, the price is preparing to start a bullish wave in the intraday and short term.

Consequently, we expect to witness positive trading in the upcoming sessions, with targets starting at 1.1916 and extending to 1.2045, keeping in mind that breaking 1.1780 will stop the expected rise and pressure the price to turn to the downside.

The expected trading range for today is between 1.1780 support and 1.1950 resistance.

The expected general trend for today: Bullish.

Futures contracts for gold prices fluctuated in a narrow range slanting to an upward trend during the Asian session, to witness its retracement of the second session from its lowest since the 27th of last August amid the bounce of the US dollar index to the second session from its highest since the 28th of the same month according to the inverse relationship between them on the cusp of developments And economic data expected on Friday by the US economy, the largest in the world.

At exactly 05:33 am GMT, gold futures contracts for next December delivery rose 0.33% to trade at $ 1,944.30 per ounce, compared to the opening at $ 1,938.00 per ounce, knowing that the contracts started the session on a rising price gap after it was concluded Yesterday's trading was at $ 1,937.80 per ounce, with the US dollar index declining 0.07% to 92.77 compared to the opening at

92.84.

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 1,375,000 added jobs compared to 1,763,000 jobs added in July, while the average hourly income index reading may clarify. Consolidation at zero levels, compared to 0.2%. This is with the unemployment rate reading showing a decline to 9.8% from 10.2% in July.

Technical analysis

Gold price continues to fluctuate around 1934.86, and attempted to break it yesterday, but it returns to trade above it now, which keeps opportunities available for resuming the main bullish trend, which targets the levels of 1967.90 then 2008.80 as the next positive steps.

On the other hand, we should note that breaching 1934.86 and holding below it will stop the expected rise and pressure the price to test 1901.80 areas before any new attempt to rise.

The expected trading range for today is between 1920.00 support and 1970.00 resistance.

The expected general trend for today: Bullish.

The US dollar fluctuated in a narrow range that tends to decline, to witness its rebound for the second session from its high since August 28, when I tested its highest since the 14th of last month, while the dollar is still in the process of its first weekly gains in three weeks against the Japanese yen amid scarce data Economic data from the Japanese economy and on the cusp of economic developments and data expected on Friday by the US economy, the largest economy in the world.

At 06:59 am GMT, the US dollar against the Japanese yen declined by 0.03% to 106.16 levels compared to the opening levels at 106.19 after the pair achieved its lowest level during the session's trading at 106.06, while it achieved its highest at 106.22.

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 1,375,000 added jobs compared to 1,763,000 jobs added in July, while the average hourly income index reading may clarify. Consolidation at zero levels, compared to 0.2%. This is with the unemployment rate reading showing a decline to 9.8% from 10.2% in July.

Technical analysis

The dollar against the yen made an attempt to breach the 106.44 level, but it rebounded to the downside significantly, to settle around 106.00, thus maintaining the bearish trend scenario valid and effective for the upcoming period, which mainly targets 105.20.

Note that breaching 106.44 and holding above it will stop the expected decline and push the price to achieve new gains, reaching 107.68.

The expected trading range for today is between 105.40 support and 106.60 resistance.

The expected general trend for today: Bearish.

MTC stock is correcting the upward movement, as the price is testing the support at 330.50, after it broke through the resistance level of 340.00 on the downside and reached the support level near the 50 SMA. Which is moving near the main support 330.50 while the average 20 is moving above the price.

The stochastic oscillator has approached the oversold zone and is forming a change in its path, which coincides with the price test of the support level.

The expected trading range is between 301.40 support and 350.50 resistance

The expected general trend for today: Bullish.