Daily Briefing
Currencies
- EUR/USD: The pair is trading in a sideway pattern on a 30 minute time frame. The next resistance is at 1.1449 and the support is at 1.128.
- USD/JPY: The pair has formed a wedge pattern on a 30 minute time frame. The next support is at 118.71 and resistance at 119.87
- GBP/USD: The pair is trading above its upward trend line on a 30 minute time frame. The resistance is near the 1.5565 and support is at 1.5332.
Indicator
Indices
- Asian Markets closed mostly higher by adding to their gains which were recorded yesterday. The Hang Seng index is the best performing index during the session and it closed higher with a gain of 0.11%. The index is up nearly by 2.02% in the past 5 days.
- European stock futures are trading lower during the early hours of trading. The FTSE 100 index is the worst performing index during the session and it is trading lower with loss of 0.10%. The index is up by almost 0.84% in the past 5 days.
- US futures are also trading higher ahead of the housing data. Most indices closed higher during the last session and the Dow index was the best performer with a gain of 0.51%.
TOP News
- The Australian construction work done data came much better with a reading of -0.2% while the forecast was for -1.2%.
- The Chinese HSBC flash manufacturing PMI data came much better than expected with a reading of 50.1 while the forecast was for 49.6
- Janet Yellen gave another dovish statement yesterday and provided no clear answer when the interest rates will increase.
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Things to Remember
Follow the trend and follow the leaders.
Market Sentiment
- Gold: The precious metal has broken the 1200 level towards the upside on a 30 hour time frame. The next support is near the 1140 and the next resistance is near the 1230.
- Crude Oil: The black gold is trading below its downward trend line on a 30 minute time frame. The near term support is at the $46.0 mark and the resistance is at 55.10.
- VIX: Volatility index dropped nearly 5.98% on the last trading day.
News Agenda For Today
15:00 GMT
USD – New Home Sales
15:30 GMT
USD – Crude Oil inventories
21:45 GMT
NZD – Trade Balance
Trends
Disclaimer: The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.