Daily Briefing- US Futures Are Trading Lower Ahead Of PMI Data

• EUR/USD- the pair is trading above its upward trend line on a 30 minute time frame as predicted. The RSI is showing that bias could be to the downside.
• USD/JPY- the pair is trading below the downward trend line on a 30 minute time frame. The RSI shows that the bias could soon change to the downside.
• GBP/USD- The pair is trading in a side way pattern on a 30 minute time frame. The price is trading above the 50 day and the 100 day moving average which shows that the bulls are still in control.

• Asian Markets closed mix but mostly up by recovering some of their losses. The Hang Seng index soared nearly 1% and was the best performing index during the Asian session. The index is up nearly 0.02% in the past five days.
• European stocks are trading mix during the early hours of the trading session. The CAC 40 index is the worst performing index and it is down by almost 0.22%. The index is down nearly -1.13% in the past five days.
• US Indices futures are trading lower during the third day of the US government shut down The Dow Jones was the worst performer yesterday and closed with a loss of 0.39%

• Blame game is still in full steam after John Boehner confirmed that president Obama refused to negotiate over the shutdown
• Goldman CEO has also echoed the same messgae to the markets that the US politicians are risking the US recovery if they do not raise debt ceiling
• Philippines was upgraded to investment grade by Moody

• Stops are there to protect you so respect your stops

• Gold The precious metal needs to break the resistance of 1337 for any further hopes of an upward trend, otherwise the bias could be to the downside. The immediate support is at 1271 followed by the 1217.
• Crude Oil- The black gold bounced strongly from its spot as predicted on a 4 hour time frame. The price is above the 50 day but below the 100 day moving average which means that bulls are taking the control
• VIX- Volatility index soared by 6.82%.

The EUR is trending up against the dollar while the CHF and DKK are trending down against the dollar on an intra day basis.


by Naeem Aslam