Daily Briefing
Currencies
- EUR/USD: The pair is trading below its downward trend line on a 4 hour time frame. The next resistance is at 1.1557 and the support is at 1.1136.
- USD/JPY: The pair has pierced the Bollinger band on a 4 hour time frame. The next support is at 115.82 and resistance at 120.41
- GBP/USD: The pair has pierced the Bollinger band on a 4 hour time frame. The resistance is near the 1.5734 and support is at 1.5331
Indicators
Indices
- Asian Markets closed sharply higher on the final day of the week. . The Shanghai index is the best performing index during the session and it is closed higher with a gain of 4.81%. The index is down nearly by 5.72% in the past 5 days.
- European futures are trading higher during the early hours of trading. The IBEX index is the best performing index during the session and it is trading higher with a gain of 0.35%. The index is up by almost 3.06% in the past 5 days.
- US futures are trading higher ahead of the personal spending data. Most indices closed higher during the last session and the NASDAQ index was the best performer with a gain of 2.46%.
TOP News
- The Spanish CPI data came in it -0.4% which was below the forecast of -0.1%
- The Swiss GDP data came in at -0.2%% while the forecast for -0.1%
Things to Remember
Use your stops and manage the risk
Market Sentiment
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- Gold: The precious metal is trading below its downward trend line on a 4 hour time frame. The next support is near the 1110 and the next resistance is near the 1140.
- Crude Oil: The black gold has bounced sharply back up on a 4 hour time frame. The near term support is at the $39 mark and the resistance is at 44.
- VIX: Volatility index dropped nearly 13.92% on the last trading day.
Top Economic data
08:30 GMT
GBP -GDP Second estimate q/q
Trends
DISCLOSURE & 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.
by Naeem Aslam