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Gold remains under pressure due to the decreasing demand for defensive assets, nearing the low of October 1st of this year. This trend will continue in the short term, if Donald Trump makes positive remarks concerning a new US-China trade deal at the Economic Club of New York today.

The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is located in the oversold zone and gradually decreases. Stoch are also reduced.

Trading recommendations:

Sell gold either on a pullback from 1458.70, or after the price drops below the level of 1448.65 with local targets of 1444.50 and 1436.85

The stock is trading in the range of the round important level of 52.00. The round secondary level of 51.80 holds back sellers. A bullish divergence has formed on the MACD , and the Stochastic Oscillator signals oversoldness.

Trading recommendations:

Buy strictly above the round secondary level 52.20 as the upward pattern 123 is forming.

Stop Loss under the round minor level 51.80.

Target levels-52.80; 53.20.

The overall trend for the currency pair is downward, as evidenced by the 365 and 135 moving averages. The movings are directed downwards on the daily timeframe 5 and 22, and the currency pair is trading in the range of moving averages. A bearish divergence has formed on the Awesome Oscillator indicator, while the Stochastic Oscillator indicator signals oversoldness.

Trading recommendations:

Sell while the descending structure is forming, where the wave (AU) breaks through the inclined channel of the ascending structure, completing it.

Stop Loss-1.6140.

Target levels - 1.6020; 1.5980; 1.5900.

The single currency fluctuated in a narrow, bullish range during the Asian session to witness the bounce for the second session of its lowest since October 15 against the US dollar on the eve of developments and economic data expected on Monday by euro-zone economies and amid the absence of the US market at the beginning of this Week because of the US Veterans Day holiday.

At 05:16 am GMT, the euro against the US dollar rose 0.04% to 1.1025 levels compared to the opening at 1.1021, after the pair reached its highest level during the session at 1.1026, while the pair achieved the lowest at 1.1017, knowing that The pair started this week on a bullish price gap, after closing last week at 1.1018 levels.

Markets are looking ahead to the euro zone's largest economies, Germany's wholesale price index reading, which may reflect a rise of 0.2% versus a decline of 0.4% in September, comes before we see the third largest economy in the region revealed the industrial sector data with the release of The Industrial Production Index which may show a 0.4% decline versus a 0.3% rise in August.

On the other hand, investors are awaiting the outcome of the FOMC member and Chairman of the Federal Reserve Bank of Boston, Eric Rosengren at the Norwegian Central Bank in Oslo, hours before the start of the semi-annual testimony of the Federal Reserve Governor Jerome Powell before the US Congress in Washington. .

Markets are looking ahead Wednesday to the first half of the Fed's semi-annual policy testimony before the House Financial Services Committee, before Powell will deliver the second half of his testimony before the Senate Banking Committee next Thursday. Federal funds rate of 25 basis points for the third consecutive meeting at its last meeting.

At a press conference late last month following the October 29-30 FOMC meeting in Washington, Powell noted that the Federal Reserve would temporarily stop adjusting monetary policy until the end of the year. Unless expectations change substantially in the coming period.

Technical Analysis

EUR / USD continues to decline to confirm the breach of the 50% Fibonacci level, reinforcing expectations for the continuation of the bearish trend over the coming sessions, and the path is open to achieve our negative targets at 1.0995 and then 1.0950.

The negative effect of the double top pattern is still effective.

Expected trading range for today is between 1.0930 support and 1.1100 resistance.

Expected trend for today: Bearish.

Gold futures fluctuated in a narrow, bullish range, bouncing back to the second session of the lowest since August 5 with the negative index of the dollar index according to the inverse relationship between them after the strikes in Hong Kong and following the developments and economic data that followed from the Chinese economy The largest metal consumer in the world amid the lack of economic data this weekend by the US economy, the largest economy in the world due to the Veterans Day holiday in the United States.

At 04:38 am GMT gold prices rose 0.21% to trade at $ 1,462.85 an ounce compared with the opening at $ 1,460.06 an ounce, with the dollar index fell 0.03% to 98.34 compared to the opening at 98.37.

Over the weekend, we watched the escalation of political unrest in Hong Kong, which, according to a recent news report, resulted in the injury of at least two protesters in Medea as local police opened fire on mass demonstrations there. Pro-democracy legislators.

On the other hand, last Saturday, the Chinese economy followed the release of inflation data which showed mixed inflationary pressures with the annual CPI reading accelerating to 3.8% vs. 3.0% in September, beating expectations of 3.2%, while the annual reading of the CPI showed Producer prices, which is a preliminary indicator of inflation, deflation widened to 1.6% vs. 1.2%, worse than expectations of 1.5%.

On the other hand, we also followed on Saturday US President Donald Trump expressed the fact that trade talks with China are going "very well" and that Beijing wants to conclude a trade deal "much more than me", and the comments came to be more optimistic about his recent statements, when he denied Last Friday, the White House agreed to abolish existing tariffs, saying Washington would not agree to a full retreat from tariffs on Chinese goods.

Chinese Ministry of Commerce spokesman Gao Feng Noh said last Thursday that Beijing and Washington agreed to eliminate some tariffs based on each other's goods at the same time, pointing out that both sides are closer to "the first phase of the trade agreement after constructive negotiations over the past two weeks." According to Chinese state media at the time.

A US official also confirmed that the United States and China had agreed to abolish tariffs, adding that the planned plan faces fierce domestic opposition in the White House, according to a Reuters report, hours after the report last week touched on a delay. Preliminary US-China trade agreement signed next month.

We should note that some of the report recently addressed the fact that the upcoming meeting between US President Trump and his Chinese counterpart Xi Jinping to sign an interim trade agreement may be postponed to December amid US and Chinese discussion of the terms of the agreement and where the two presidents will gather, knowing that Among the various proposals are their meeting to sign the agreement after the meeting of the North Atlantic Treaty Organization to be held early next month.

Investors are looking ahead to the outcome of the FOMC member and chairman of the Federal Reserve Bank of Boston, Eric Rosengren at the Norwegian central bank in Oslo, hours before the start of the semi-annual testimony of Federal Reserve Governor Jerome Powell before the US Congress in Washington. .

Markets are looking ahead Wednesday to the first half of the Fed's semi-annual policy testimony before the House Financial Services Committee, before Powell will deliver the second half of his testimony before the Senate Banking Committee next Thursday. Federal funds rate of 25 basis points for the third consecutive meeting at its last meeting.

At a press conference late last month following the October 29-30 FOMC meeting in Washington, Powell noted that the Federal Reserve would temporarily stop adjusting monetary policy until the end of the year. Unless expectations change substantially in the coming period.

Technical Analysis

The price of gold stabilizes around 1460.00 after the strong decline witnessed last Friday, and the bearish trend is still likely supported by the moving average 50, which negatively pressures the price, waiting to test the level of 1447.00, which is our first major target, noting that breaking this level will push the price to 1413.10 as the next target.

Therefore, we expect further declines today, considering that the continuation of the bearish wave depends on stability below 1489.00.

Expected trading range for today is between 1440.00 support and 1475.00 resistance.

Expected trend for today: Bearish

The US dollar fluctuated in a narrow range, tilted lower during the Asian session to witness a rebound for the third session from its highest since late May against the Japanese yen following the developments and economic data that followed from the Japanese economy and amid the lack of economic data by the US economy on Monday because of a day off Veterans of the USA.

At 05:56 AM GMT, the USDJPY fell 0.14% to 109.06 levels from the opening levels of 109.21, after the pair reached its lowest level during the session at 109.00, while the highest level at 109.26, knowing The pair started this week on a bearish price gap after closing last week at 109.26 levels.

The Japanese economy followed the release of the Bank of Japan's Bank of Japan Lending Annual Report which showed that October's growth was stable at 2.0% in line with expectations, coinciding with the release of the Core Machinery Equipment Orders reading which showed an expansion. Decline to 2.9% vs. 2.4% in September, beating expectations for a 0.9% rise.

We also followed by the third largest economy in the world the current account reading showed that the surplus shrank to 1.613 billion yen from 2,158 billion yen in August, worse than expectations for a surplus to shrink to 1,710 billion yen, the revised reading showed. The seasonally adjusted index shrank to 1,485 billion yen from 1.720 billion yen in August, also worse than expectations for 1,664 billion yen.

This came before the Japanese Cabinet Office unveiled the EcoWatchers statistic reading of the current and future conditions, which showed that the contraction of the current situation widened to 36.7 vs. 46.7 in September, worse than expectations that the contraction widened to 40.6, while the future reading showed Deflation contracted to 43.7 from 36.9 in September, beating expectations of 41.9.

On the other hand, investors are awaiting the outcome of the FOMC member and Chairman of the Federal Reserve Bank of Boston, Eric Rosengren at the Norwegian Central Bank in Oslo, hours before the start of the semi-annual testimony of the Federal Reserve Governor Jerome Powell before the US Congress in Washington. .

Markets are looking ahead Wednesday to the first half of the Fed's semi-annual policy testimony before the House Financial Services Committee, before Powell will deliver the second half of his testimony before the Senate Banking Committee next Thursday. Federal funds rate of 25 basis points for the third consecutive meeting at its last meeting.

At a press conference late last month following the October 29-30 FOMC meeting in Washington, Powell noted that the Federal Reserve would temporarily stop adjusting monetary policy until the end of the year. Unless expectations change substantially in the coming period.

Technical Analysis

USDJPY found it difficult to break above 109.33, bouncing down on a possible test of pivotal support 108.40, noting that SMA 50 continues to support the price from below, while the stochastic has cleared its negative momentum to oversold areas.

Therefore, these factors encourage us to continue to favor the bullish trend for the coming period, whose targets start by breaching 109.33 to open the way to visit 110.50 as the next target, while stability above 108.40 is an important condition for achieving the suggested targets.

Expected trading range for today is between 108.40 support and 110.00 resistance.

Expected trend for today: Bullish.

Speer Bank was able to breach the 235.80 resistance level at 61.8% Fibonacci retracement. It reached the next level at 241.95

The price is moving in an uptrend with positive support from moving averages 7-20-50 that move below the price and give it stability to rise and form support levels for it.

Stochastic is moving in an uptrend towards overbought area which will increase the positive pressure on the price to rise and test the resistance level 245.50.

The general trend: bullish.

The Australian dollar fluctuated in a narrow range, tilted lower during the Asian session to witness the rebound for the third session in five sessions from its highest since late October, when it tested the highest since July 26 against the US dollar amid the lack of economic data earlier this week By the Australian economy and with the US market absent on Monday due to the Veterans Day holiday in the USA.

At 04:51 AM GMT, the Australian dollar against the US dollar fell by 0.22% to 0.6852 levels, compared to the opening levels at 0.6867, after the pair achieved the lowest during the trading session at 0.6848, while achieving the highest at 0.6870, knowing The pair started this week on a bullish price gap, after closing last week at 0.6863 levels.

The Chinese economy, Asia's largest and Australia's largest trading partner, followed the release of October inflation data which showed that CPI growth accelerated more than expected in conjunction with the widening contraction of PPI, a preliminary indicator of inflationary pressures, which may reflect On the decisions and orientations of the monetary policy makers of the People's Bank of China (China's central bank).

On Wednesday, markets are looking to reveal the wage price index, which reflects a slowdown in growth to 0.5% vs. 0.6% in the previous quarter. The annual reading of the index itself may also show a slowdown in growth to 2.2% vs. 2.3%. To see the release of Australian labor market data next Thursday with the release of the unemployment rate and the change in employment for the past month.

On the other hand, investors are awaiting the outcome of the FOMC member and Chairman of the Federal Reserve Bank of Boston, Eric Rosengren at the Norwegian Central Bank in Oslo, hours before the start of the semi-annual testimony of the Federal Reserve Governor Jerome Powell before the US Congress in Washington.

Markets are looking ahead Wednesday to the first half of the Fed's semi-annual policy testimony before the House Financial Services Committee, before Powell will deliver the second half of his testimony before the Senate Banking Committee next Thursday. Federal funds rate of 25 basis points for the third consecutive meeting at its last meeting.

At a press conference late last month following the October 29-30 FOMC meeting in Washington, Powell noted that the Federal Reserve would temporarily stop adjusting monetary policy until the end of the year. Unless expectations change substantially in the coming period.

Technical Analysis

AUDUSD was able to confirm the breach of the bullish intraday channel support, reinforcing the continuation of the bearish trend scenario over the short and short term, awaiting to visit 0.6825 then 0.6755 as the next major targets.

Moving above SMA 50 will make it easier for the price to continue falling, while stability below 0.6895 is an important condition for achieving the suggested targets.

Expected trading range for today is between 0.6800 support and 0.6900 resistance

Expected trend for today: Bearish

When buying an option against the trend, it is necessary to confirm other instruments of technical analysis - the presence of divergence, candlestick reversal patterns. Buy against trend strictly on level retest! Buying an option before publishing important economic news is considered risky.   The expiration time depends on the strength of the level and confirmation by additional tools of technical and fundamental analysis.

The support level of 1.4542 held back sellers. A bullish divergence has formed on Awesome Oscillator indicator, and the Stochastic Oscillator indicator signals oversoldness. Breaking through the round important level 1.4600 will result in the formation of an upward pattern 123.

Trading recommendations:

Buy above 1.4600.

Stop Loss below the support level 1.4542.

The goal is important round pivot zone 1.4700.