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Futures contracts for gold prices fluctuated in a narrow range tending to decline during the Asian session, to witness a rebound to the fourth session in five sessions from the lowest since July 23, amid the decline of the US dollar index to its lowest since the sixth of August, when it tested the lowest since 14 May 2018, according to the inverse relationship between them on the cusp of developments and expected economic data today, Tuesday, by the US economy, and in light of investors ’evaluation of the escalation of tensions between the United States and China, the largest consumer of the mineral in the world.

At exactly 04:53 am GMT, gold futures contracts for next December delivery rose 0.28% to trade at $ 1,999.20 an ounce compared to the opening at $ 1,993.60 an ounce, knowing that the contracts started the session on a downward price gap after it was concluded Yesterday's trading at $ 1,998.70 per ounce, with the US dollar index declining 0.15% to 92.68 compared to the opening at 92.82.

Investors are currently awaiting the US economy to unveil the housing market data with the release of both the Housing Starts Index and the Building Permit Index, and amid expectations that the building permit reading will reflect an increase to about 1.33 million permits, compared to about 1,226 million permits last June. The home start-up reading may reflect an increase to about 1.23 million homes, compared to about 1.19 million homes in June.

Other than that, we followed yesterday the US Secretary of Commerce Wilbur Ross expressed that trade talks between Washington and Beijing are still continuing and that his country is keen to call on China to go ahead with the purchase of American agricultural products while referring to the fact that the US administration is working to fill the gaps to prevent the Chinese company Huawei from Access to American technology, and this came after US President Donald Trump's administration tightened additional restrictions on Huawei.

Technical analysis

Gold price succeeded in confirming the breach of the 1967.90 level after closing the daily candlestick above it, which supports the chances of continuing the main bullish trend that is organized inside the minor and main ascending channel that appears in the image, and the way is open to achieving our next awaited target at 2008.80, noting that breaching this level will lead the price To head towards the recently recorded high at 2074.87 as a next stop.

Therefore, we will be waiting for more upside in the coming sessions, keeping in mind that holding above 1967.90 is important to achieve the suggested targets.

The expected trading range for today is between 1965.00 support and 2020.00 resistance.

The expected general trend for today: Bullish.

The US dollar fell during the Asian session, to witness its rebound to the fourth session from its highest since July 23 against the Japanese yen amid scarcity of economic data by the Japanese economy and before economic developments and data expected today, Tuesday, by the US economy, the largest economy in the world, and in the shadow of escalating tensions The United States and China are the two largest economies in the world.

At exactly 06:51 am GMT, the US dollar against the Japanese yen declined by 0.39% to 105.59 levels compared to the opening levels at 106.01, after the pair achieved its lowest level since the seventh of August at 105.57, while it achieved its highest level during the trading session. At 106.05.

Investors are currently awaiting the US economy to unveil the housing market data with the release of both the Housing Starts Index and the Building Permit Index, and amid expectations that the building permit reading will reflect an increase to about 1.33 million permits, compared to about 1,226 million permits last June. The home start-up reading may reflect an increase to about 1.23 million homes, compared to about 1.19 million homes in June.

Other than that, we followed yesterday the US Secretary of Commerce Wilbur Ross expressed that trade talks between Washington and Beijing are still continuing, and that his country is keen to call on China to go ahead with the purchase of American agricultural products, while referring to the fact that the US administration is working to fill the gaps to prevent the Chinese company Huawei from Access to American technology, and this came after US President Donald Trump's administration tightened additional restrictions on Huawei.

Technical analysis

The dollar against the yen pair achieved a strong break of 106.44 to return to the downside path again, as it approaches the first negative target at 105.20, which makes us expect to witness a further decline in the coming sessions, noting that exceeding the mentioned level will lead the price to incur additional losses that reach To 103.65.

Moving below the SMA 50 supports the bearish expectations, which will remain valid unless the price rallies to breach 106.44 and stabilize above it.

The expected trading range for today is between 104.80 support and 106.40 resistance.

The expected general trend for today: Bearish.

AUDCAD

The overall trend is downward. The currency pair is trading in the range of 365 and 135 moving averages. An ascending truncated pattern has formed. Awesome Oscillator indicates a bearish divergence, while Stochastic Oscillator indicates an overbought condition. A breakout of 0.9514 will result in the formation of a descending wave pattern within the overall downtrend.

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

Trading recommendations:

Sell below 0.9514.

Stop Loss: 0.9550.

Target levels: 0.9472; 0.9438.

USDCAD

The pair remains in a short-term downtrend amid the fundamental weakness of the US dollar and the return of oil prices to recent local highs. If this trend continues, the pair will continue to fall.

Technical side:

The price is below the lower Bollinger band, below SMA 5 and SMA 14. RSI is over the oversold zone and declining. Stoch are not informative.

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

Trading recommendations:

After the pair fell below 1.3200, it will likely go further down to 1.3100.

Aeroflot stock attempted to test the resistance at 86.50 by the end of last week's trading, but it failed to breach this level. The stock returned to the sideways movement it was trading in during the past two weeks, as it tested the key support level of 78.50, which is considered one of the important levels that the price is exposed to.

The price is moving above the moving averages 507-20- which move in one level at the 84.00 level and form the first support levels for the price and prevent it from falling further.

The stochastic oscillator gives a sign of a change in the path, thus it will try to pressure the price to return to the sideways track, after the resistance level 86.50 had held.

The stock can be bought with confirmation of the breach of the support level 86.50, and targets will be 94.90-101.20 and a stop loss below 82.70

The Australian dollar against the US dollar will resume its positive trading, surpassing the 0.7170 level and settling above it, which re-activates the main bullish trend scenario, on its way to test the recently recorded top at 0.7243 initially, waiting for the breach of this level to pave the way for the extension of the bullish wave towards 0.7400 as a next major stop.

Thus, the upside will be likely during the upcoming sessions unless breaking 0.7110 level and holding below it.

The expected trading range for today is between 0.7140 support and 0.7250 resistance.

The expected general trend for today: Bullish.

The single currency, the euro, fluctuated in a narrow, upward range during the Asian session, to witness its rebound for the fourth consecutive session from the lowest since the third of August against the US dollar amid a scarcity of economic data by the economies of the euro area and on the cusp of economic developments and data expected today, Monday before. The American economy is the largest in the world.

At 06:15 AM GMT, the euro pair rose against the US dollar by 0.12% to 1.1856 levels, compared to the opening levels at 1.1844, after the pair achieved its highest level during the session's trading at 1.1868, while it reached its lowest level at 1.1833, knowing that The pair commenced the session on a rising gap, after ending last week’s trading at 1.1842 levels.

Investors are currently awaiting the American economy, the largest industrial country in the world, for the release of the New York Industrial Index, which may reflect a contraction of the expansion to a value of 14.6 compared to 17.2 in July, and this comes before we witness the disclosure of housing market data with the release of the housing index reading. By the National Association of Home Builders which may reflect a rise to $ 74 versus 72 in July.

Technical analysis

The euro versus dollar pair opens today's trading with a bullish tendency to resume the bullish path suggested in our recent reports, which supports the continuation of the bullish trend scenario in the intraday and short term, waiting for a test of 1.1908, which represents our next target, noting that breaching this level will extend the bullish wave to reach 1.2035 As the next major stop.

The SMA 50 continues to support the suggested bullish wave, which will remain valid as long as it is established above 1.1800, and most importantly above 1.1737.

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

   We recommend buying the pair above 1.1825 levels, a target of 11900, and stopping a loss below 1.1785.

The expected general trend for today: Bullish.

Futures contracts for gold prices fluctuated in a narrow range that tends to decline during the Asian session, to witness its rebound to the fifth session in seven sessions from its highest ever, overlooking the bounce of the US dollar index for the fourth consecutive session from its high since the third of August according to the inverse relationship between them after Economic developments and data that they followed on the Japanese economy and on the cusp of developments and expected economic data on Monday by the US economy and in light of investors ’evaluation of the tensions between Washington and Beijing.

At exactly 4:52 am GMT, gold futures contracts for December delivery fell 0.34% to trade at $ 1,949.80 per ounce compared to the opening at $ 1,956.40 per ounce, knowing that the contracts started the session on a rising price gap after it was concluded Last week's trading was at $ 1,949.80 per ounce, while the US dollar index declined 0.09% to 92.99 compared to the opening at 93.07.

We have followed up by the Japanese economy, the second largest in Asia and the third largest in the world, the release of the GDP index reading, which showed the expansion of the contraction to 7.8% compared to 0.9% in the last first quarter, worse than expectations that indicated the expansion of the contraction to 7.5%, as well. The annual reading of the same index showed that the contraction widened to 27.8%, reflecting the worst ever, versus 2.2%, also worse than expectations for a 27.2% contraction.

On the other hand, investors are currently awaiting the US economy, the largest industrial country in the world, for the release of the New York industrial index reading, which may reflect a contraction of the expansion to a value of 14.6 compared to 17.2 in July, and this comes before we witness the disclosure of housing market data with the release of A housing index reading by the National Association of Home Builders may reflect a rise to a value of 74 versus 72 in July.

Technical analysis

Gold price is testing the pivotal support floor 1934.68, and as we indicated in our recent reports, the price needs to consolidate above this level to keep the bullish trend scenario valid, supported by the positive sign that appears through the stochastic indicator, pending the resumption of the bullish tendency to breach 1967.90 and confirm the opening of the way towards the direction towards 2008.80 Next stop.

From here, we are continuing to suggest the bullish trend for the upcoming period, noting that breaking 1934.68 will put the price under negative pressure, whose targets start with testing 1901.80 and may extend to 1860.90 before any new attempt to rise.

The expected trading range for today is between 1910.00 support and 1990.00 resistance.

  We recommend buying gold above 1938.50 levels, the target of 1981.00 and stopping a loss below the level of 1920.00.

The expected general trend for today: Bullish.

The US dollar fluctuated in a narrow range that tends to decline during the Asian session, to witness its retracement of the third session from its high since July 23 against the Japanese yen after the developments and economic data that we followed about the Japanese economy before the developments and the economic data expected today, Monday, by the US economy. The world economy and in the shadow of escalating tensions between the United States and China, the two largest economies in the world.

At 06:50 am GMT, the US dollar against the Japanese yen declined by 0.03% to 106.58 levels compared to the opening levels at 106.61 after the pair achieved its lowest level during the session's trading at 106.46, while it achieved its highest at 106.68, knowing that The pair started the session on a rising gap after ending last week’s trading at 106.60 levels.

We have followed up by the Japanese economy, the second largest in Asia and the third largest in the world, the release of the GDP index reading, which showed the expansion of the contraction to 7.8% compared to 0.9% in the last first quarter, worse than expectations that indicated the expansion of the contraction to 7.5%, as well. The annual reading of the same index showed that the contraction widened to 27.8%, reflecting the worst ever, versus 2.2%, also worse than expectations for a 27.2% contraction.

In the same context, the GDP index reading measured by prices showed an acceleration of growth to 1.5% compared to 0.9% in the first quarter, below expectations that indicated an acceleration of growth to 1.9%, and this came before we witnessed the disclosure of industrial sector data for the third largest industrial country in The world with the release of the energy utilization rate, which showed an increase of 6.2%, compared to a decline of 11.6% last May.

This coincided with the release of the final reading of the Industrial Production Index, which reflected a slowdown in growth to 1.9% compared to the previous preliminary reading for the month of June and expectations of 2.7% and compared to a decline of 8.9% in May, while the annual reading of the same index showed a widening decline to 18.2% against 17.7% in the previous annual reading for the month of May.

On the other hand, investors are currently awaiting the US economy, the largest industrial country in the world, for the release of the New York industrial index reading, which may reflect a contraction of the expansion to a value of 14.6 compared to 17.2 in July, and this comes before we witness the disclosure of housing market data with the release of A housing index reading by the National Association of Home Builders may reflect a rise to a value of 74 versus 72 in July.

Technical analysis

The dollar-yen pair returns to decline to test the pivotal support floor at 106.44, which requires attention from upcoming trades, as the price needs to consolidate above this level so that the positive scenario remains valid for the upcoming period.

The stochastic oscillator is now providing clear positive signs, in addition to the SMA 50 providing support for the price from below, and therefore, these factors encourage us to continue suggesting the bullish trend in the intraday and short term, whose next target is at 107.68, noting that a break of 106.44 will set The price is under negative pressure, its targets start with testing the 105.20 areas.

The expected trading range for today is between 106.00 support and 107.40 resistance.

The expected general trend for today: Bullish.

NZDUSD

The pair is trading above the strong support level of 0.6520. The pair is negatively affected by the US-China tensions, ahead of the RBNZ meeting minutes to be released on Tuesday.

Technical side:

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is above the oversold zone and moves horizontally. Stoch are declining.

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

Trading recommendations:
If the pair falls below the 0.6520, it may go further down to 0.6450.