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The Australian dollar fluctuated in a narrow range sloping upward during the Asian session, to witness its highest since the fourth of December of 2018 against the US dollar before the economic developments and data that were followed on Monday by the Australian economy and the Chinese economy, Australia's largest trading partner, amid scarce economic data At the start of this week by the US economy the largest in the world.

At exactly 03:45 am GMT, the Australian dollar against the US dollar rose 0.18% to 0.7365 levels compared to opening levels at 0.7352, after the pair achieved its highest level in nearly two years at 0.7381, while its lowest level during the session's trading is at 0.7346. The pair started the session on a descending gap after ending last week’s trading at 0.7365 levels.

And we followed up on the Australian economy. The Melbourne Institute (MI) revealed a reading of the inflation gauge, which showed a slowdown in growth to 0.1% compared to 0.9% last July, while the annual reading for the index itself showed stability at 1.3%, and this came before we see the release of the reading. Total operating profits for companies, which indicated an acceleration of growth to 15.0%, compared to 1.4% in the first quarter last quarter, contrary to expectations that indicated a 6.0% decline.

This came in conjunction with the release of the private sector credit index reading, which showed a contraction of 0.1%, in line with expectations, compared to 0.2% in June, while the annual reading of the same index showed a slowdown in growth to 2.4% compared to 2.9%, and this comes hours before the activities of the bank meeting. The Australian Central Bank and the Reserve Bank of Australia tomorrow, Tuesday, unveiled the interest rate statement amid expectations that the interest rate will be fixed at its lowest level ever at 0.25%.

In another context, we have just followed up on the disclosure of the China Federation of Logistics and Procurement (CFLP) of the industrial and service sector data for the past month, which indicated that the industrial sector's expansion decreased to a value of 51.0 compared to the previous reading for July and expectations at 51.1, while the service sector expanded to what Its value was 55.2 compared to 54.2 in July, contrary to expectations for a narrowing of the breadth to 54.0.

On the other hand, markets are looking forward to the speech of a member of the Federal Open Market Committee and Deputy Governor of the Federal Reserve, Richard Clarida, who is scheduled to participate in a hypothetical discussion on monetary policy hosted by the Peterson Institute for International Economics, and this comes in the wake of the Federal Reserve’s announcement on the sidelines of the Jackson Hole meetings adopting a policy New for inflation and average inflation targeting two percent above for some time.

Technical analysis

The Australian dollar against the US dollar provided new positive trades to reach the close of the second awaited target at 0.7400, to continue moving within the ascending channels that appear in the image, and get continuous positive support from the EMA 50, waiting for more upside to head towards areas of 0.7485 that represent the next target .

Consequently, the bullish trend will remain valid and effective for the upcoming period, bearing in mind that the breach of 0.7325 may pressure the price to start a downside corrective wave targeting 0.7240 areas before any new attempt to rise.

The expected trading range for today is between 0.7320 support and 0.7440 resistance

The expected general trend for today: Bullish

The single currency, the euro, fluctuated in a narrow range sloping upward during the Asian session to witness its stability near its highest since mid-2018 against the US dollar before the developments and expected economic data on Monday by the economies of the euro area and amid the scarcity of economic data at the beginning of this week by the US economy. Economy in the world.

At exactly 06:04 GMT, the euro pair rose against the US dollar by 0.02% to 1.1901 levels, compared to opening levels at 1.1899, after the pair achieved its highest level during the session's trading at 1.1929, while the lowest was at 1.1895, knowing that The pair started the session on a descending gap, after ending last week’s trading at 1.1903 levels.

The markets are looking for the largest economy in the euro area, Germany, to reveal inflation data, with the release of the preliminary reading of the consumer price index, which may reflect the stability at zero levels against a contraction of 0.5% last July, before we see Spain and Italy, the fourth and third largest economies. The region also disclosed the annual reading of the same index.

On the other hand, markets are looking forward to the speech of a member of the Federal Open Market Committee and Deputy Governor of the Federal Reserve, Richard Clarida, who is scheduled to participate in a hypothetical discussion on monetary policy hosted by the Peterson Institute for International Economics, and this comes in the wake of the Federal Reserve’s announcement on the sidelines of the Jackson Hole meetings adopting a policy New for inflation and average inflation targeting two percent above for some time.

Technical analysis

The euro versus dollar pair shows new positive trades with the opening of the day and is trying to approach our first target, which now rises to 1.1965, where it gets continuous positive support from the 50 moving average, noting that breaching the mentioned level will push the price to head towards 1.2160 areas in the near term.

From here, we will continue suggesting the bullish trend for the upcoming period, noting that the breach of 1.1845 will pressure the price to test 1.1735 areas before any new attempt to rise.

The expected trading range for today is between 1.1845 support and 1.2000 resistance

The expected general trend for today: Bullish

Futures contracts for gold prices fluctuated in a narrow range that is tilted to rise during the Asian session with the decline of the US dollar index to its lowest since August 18, when it tested its lowest since the beginning of May 2018 according to the inverse relationship between them after the developments and economic data that we followed today, Monday. The Chinese economy is the largest consumer of the mineral in the world amid scarce economic data early this week by the US economy.

At exactly 05:15 a.m. GMT, gold futures contracts for next December delivery rose 0.24% to trade at $ 1,978.60 an ounce, compared to the opening at $ 1,973.90 an ounce, knowing that the contracts started the session on a downward price gap after it was concluded Last week's trading at $ 1,974.90 per ounce, with the US dollar index declining 0.05% to 92.25 compared to the opening at 92.30.

We have followed up on the disclosure by the China Federation of Logistics and Procurement (CFLP) of the industrial and service sector data for the past month, which indicated that the industrial sector's expansion decreased to 51.0 compared to the previous reading for July and expectations of 51.1, while the service sector expanded to 55.2 compared to 54.2 in July, contrary to expectations for a contraction to 54.0.

Technical analysis

The price of gold starts trading today with an additional bullish tendency, to trade around the 1967.90 level and try to break it and divert from it, which supports the continuation of the expected bullish trend scenario in the intraday and short term, which aims to visit 2008.80 as a next stop.

Consequently, the bullish trend will remain dominant during the upcoming sessions, supported by the EMA50, noting that the breach of 1967.90 and stability below it may put the price under temporary negative pressure that targets testing 1934.86 areas before any new attempt to rise.

The expected trading range for today is between 1950.00 support and 2000.00 resistance

The expected general trend for today: Bullish

The US dollar fluctuated in a narrow, bullish range during the Asian session against the Japanese yen, following the developments and economic data that were followed on Monday by the Japanese economy, and amid scarce economic data early this week by the US economy, the largest economy in the world.

At exactly 06:50 am GMT, the US dollar against the Japanese yen rose by 0.10% to 105.57 levels compared to the opening levels at 105.46 after the pair achieved its highest level during the session's trading at 105.80, while it achieved the lowest level at 105.30. The pair started the session on a rising gap after ending last week’s trading at 105.37 levels.

We have followed up on the Japanese economy, the third largest economy in the world and the third largest industrialized country in the world, the release of the preliminary industrial production reading, which showed an acceleration of growth to 8.0% compared to 1.9% last June, surpassing expectations that indicated an acceleration of growth to 5.0%, while The annual reading of the same index showed a contraction of the decline to 16.1% compared to 18.2% in June, worse than expectations for a contraction of the decline to 15.7%.

This coincided with the disclosure of the seasonally adjusted reading of the retail sales index, which showed a decline of 3.3% against a rise of 13.1% in June, worse than expectations that indicated a slowdown in growth to 8.0%, while the annual reading of the same index showed the widening of the decline to 2.8% compared to 1.3. % In June, also worse than expectations, which indicated a widening decline of 1.7%.

Up to the release of the consumer confidence reading, the contraction expanded to a value of 29.3 compared to 29.5 last July, surpassing expectations of 28.7, in conjunction with the disclosure of housing market data with the release of the annual reading of the housing starts index, which showed a decline in the decline to 11.4% compared to 12.8% in June, beating expectations for a narrowing of the decline to 12.0%.

Other than that, Japan is still looking for a new prime minister to succeed the Japanese prime minister, who last Friday suddenly announced his resignation for health reasons, and in another context, Bank of Japan Governor Haruhiko Kuroda also indicated Friday that he plans to complete his full term. It ends in 2023 with the assurance that the Bank of Japan will maintain its monetary policy even as Japanese Prime Minister Abe resigns.

On the other hand, markets are looking forward to the speech of a member of the Federal Open Market Committee and Deputy Governor of the Federal Reserve, Richard Clarida, who is scheduled to participate in a hypothetical discussion on monetary policy hosted by the Peterson Institute for International Economics, and this comes in the wake of the Federal Reserve’s announcement on the sidelines of the Jackson Hole meetings adopting a policy New for inflation and average inflation targeting two percent above for some time.

Technical analysis

The dollar versus yen pair continued to decline to touch the negative target suggested in our recent technical update at 105.20, and fluctuate near this level, to fall under expected negative pressure during the coming period, waiting for the aforementioned level to be broken to confirm the continuation of the downside trend in the intraday and short term, whose next target reaches 103.65. .

Therefore, the bearish bias will be expected today, supported by moving below SMA 50, bearing in mind that failure to achieve the required break will push the price to test 106.44 areas again before any new attempt to decline.

The expected trading range for today is between 104.70 support and 106.00 resistance

The expected general trend for today: Bearish

#TATN

The descending pattern is truncated. A bullish divergence has formed on Awesome Oscillator indicator (the price has overstepped the balance line at the point (B) — “breaking the bear’s back”, then the minimum on the chart was updated without updating the indicator’s minimum). Stochastic Oscillator indicates an oversold condition.

#TATN rate online: monitor the price movement in real time.

Buy when an upward wave pattern is formed, where wave (A) breaks through the inclined channel of the downward truncated pattern.

Stop Loss below the support level 552.50.

Target levels: 573.60; 610.0.

EURCHF

The overall trend is downward. The currency pair is trading in the range of 364 and 135 moving averages, and the ascending H1 level pattern is truncated. Stochastic Oscillator also signals an overbought condition.

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

Trading recommendations:

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

Stop Loss: 1.0775.

Target levels: 1.0731; 1.0697.

NZDUSD

The pair began to correct following today’s weak economic data from China. The pair is being driven down due to the local overbought condition, which may result in a limited decline.

Technical side:

The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI is turning in the overbought zone. Stoch are coming out of this area.

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

Trading recommendations:

The price falling below 0.6720 may result in a further drop to 0.6685, which would make a 23% Fibonacci pullback.

Friday, August 28th, today’s news—France's GDP has contracted by a record 13.8% in Q2. The Fed shifts its inflation target to "average", the news has triggered growth in the European and American markets, Dow is up 200 points. The price of Brent oil is $45.47, WTI—$42.88. EUR/USD is at 1.1906, GBP/USD—1.3268, gold is $1,957.90 per ounce. Read the daily selection of analytical reviews from Grand Capital experts to navigate the market during a time of volatility.

USDCAD technical analysis

The pair remains in a short-term downtrend amid the global fundamental weakness of the US dollar, which only increased after the Fed’s head Jerome Powell announced 2% as the new inflation target. The pair will continue to decline in the short term due to this factor and the uptrend in oil prices. Keep track of the price movement in real time.

Trading recommendations: the price is at the level of the lower Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. Stoch have turned down.

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GBPNZD analysis

The overall trend is upward. A bullish divergence has formed on Awesome Oscillator, and Stochastic Oscillator indicates an oversold condition. Keep track of the rate changes in real time.

Trading recommendations: buy after an ascending wave pattern is formed, where the wave (aC) breaks through the inclined channel of the descending H2 level pattern, completing it.

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Trading ideas for the Adidas AG. (XETRA)

The overall trend is upward. The stock is trading in the range of 365 and 135 moving averages. Awesome Oscillator indicates a bullish divergence, and the descending pattern is currently truncated. Keep track of the rate changes 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 truncated pattern.

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Useful info and online charts

Visit the new section on Grand Capital website to monitor the rate changes of your preferred instruments and get useful information to help you decide on a trading strategy.

^{*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 euro rose against most of the major currencies during trading on Friday, in light of the weakness of the US currency and buying momentum, with expectations indicating that the European single currency is heading towards further rise.

Yesterday, economic data showed that the US GDP contracted by 31.7% in the second quarter, a reading below expectations when it contracted by 32.5%.

Yesterday, the Federal Reserve Chairman revealed a historic shift in his strategy around inflation, targeting an average of 2% higher for some time, which means continuing to maintain interest rates near zero for a period.

Later today, economic data will be released in the eurozone, including consumer confidence, import prices in Germany and the GDP in France.

In terms of trading, the euro rose against the US dollar by 6:19 GMT by 0.5% to 1.1878, and the highest price was at 1.1881 and the lowest price was at 1.1812.

Technical analysis

The decline of the euro against the dollar yesterday stopped near our first awaited target at 1.1775, and the price found strong support there to rebound up and start testing the pivotal resistance 1.1845 now, which provides signs of the price's attempt to recover and achieve new gains, which makes us prefer to stop on the fence until we get A clearer signal for the next direction, which we will obtain by skipping one of the mentioned levels.

We point out that breaching 1.1845 resistance will push the price to resume the main bullish trend and achieve positive targets that start at 1.1945 while breaking the 1.1775 support will press the price to test 1.1720 before any new attempt to resume the main bullish trend.

The expected trading range for today is between 1.1760 support and 1.1945 resistance.

The expected trend for today: depends on the levels mentioned in the report.

Gold prices rose during Friday's trading in the morning trading in the Asian period, after markets absorbed the statements of Federal Reserve Chairman "Jerome Powell" and the dollar's decline against most of the major currencies.

In his speech on the sidelines of the "Jackson Hole" forum, Powell said that the central bank decided to change its strategy on inflation and target an average of 2% higher for some time, which means a commitment to cheap borrowing in the near future.

With this step, the Federal Reserve aims to provide support to the US economy in the face of the repercussions of the Corona crisis, which led to a contraction of GDP in the second quarter by more than 30%.

In a related context, the dollar index fell (against a basket of major currencies) by 05:00 GMT by 0.2% to 92.8 points, and recorded the highest level at 93.1 points and the lowest level at 92.8 points.

In terms of trading, spot gold contracts rose by 0.8% to 1947.7 dollars an ounce after the December futures contract closed yesterday's session, down by 1% to 1932.6 dollars an ounce.

Technical analysis

Gold price ended yesterday's trading above 1934.86 after it succeeded in reaching our main waited target at 1901.80 yesterday, where it built on the support of the main ascending channel and rebounded to the upside to resume the main bullish path, on its way to achieve new gains that start at 1967.90 and extend to 2008.80.

Thus, the bullish trend will be suggested for today, and the price needs to obtain enough positive momentum to rush towards achieving the aforementioned targets, bearing in mind that the breach of 1934.86 will put the price under new negative pressure targeting a test of critical support 1901.80 again.

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

The expected general trend for today: Bullish.