Daily Briefing
Currencies
- EUR/USD: The pair is trading below its downward trend line on a 30 minute time frame. The next resistance is at 1.1288 and the support is at 1.0885.
- USD/JPY: The pair has completed its downward wedge pattern on a 30 minute time frame. The next support is at 119.78 and resistance at 122.91.
- GBP/USD: The pair is trading below its downward trend line on a 30 minute time frame. The resistance is near the 1.6030 and support is at 1.5448
Indicators
Indices
- Asian Markets closed mostly higher by erasing some of their losses from yesterday. The Shanghai index is the best performing index during the session and it closed higher with a gain of 5.75%. The index is down nearly by 2.30% 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 1.42%. The index is down by almost 3.55% in the past 5 days.
- US futures are trading higher ahead of the unemployment data. Most indices closed higher during the last session and the NASDAQ index was the best performer with a gain of 01.75%.
TOP News
- The Australian dollar employment data came in at 7.3K while the forecast was -2.1K.
- The Australian unemployment rate fell short of expectations with the reading of 6.0% while the forecast was 6.1%
Things to Remember
Use your stops and manage the risk
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Market Sentiment
- Gold: The precious metal is trading below its downward trend line on a 30 minute time frame. The next support is near the 1130 and the next resistance is near the 1174.
- Crude Oil: The black gold has formed an ascending triangle pattern on a 30 minute time frame. The near term support is at the $48 mark and the resistance is at 57.
- VIX: Volatility index increased nearly 22.19%% on the last trading day.
Top Economic data
11:00 GMT
GBP – Official Bank Rate /
GBP – MPC Rate Statement
12:30 GMT
USD – Unemployment Claims
14:30 GMT
USD – Natural Gas Storage
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