Daily Briefing
Currencies
- EUR/USD: The pair is moving in a side way pattern on a 30 minute time frame. The next resistance is at 1.1466 and the support is at 1.1132.
- USD/JPY: The pair has formed a wedge pattern on a 30 minute time frame. The next support is at 122.45 and resistance at 125.85.
- GBP/USD: The pair has broken 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 lower by erasing some of their losses from yesterday. The Hang Seng index is the worst performing index during the session and it closed lower with a loss of 0.94%. The index is down nearly by 2.30% in the past 5 days.
- European markets are trading higher during the early hours of trading. The DAX index is the best performing index during the session and it is trading higher with a gain of 0.40%. The index is down by almost 3.55% in the past 5 days.
- US futures are trading higher ahead of the jobs claims data. Most indices closed lower during the last session and the DOW index was the worst performer with a loss of 0.98%.
TOP News
- Greece has been given a deadline by its creditors which is 11:00 AM Brussels time to submit their proposal.
- Carl Icahn has sold its remaining shares in Netflix (NASDAQ:NFLX).
Things to Remember
Use your stops and manage the risk
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Market Sentiment
- Gold: The precious metal is consolidating in a side way pattern on a 30 minute time frame. The next support is near the 1160 and the next resistance is near the 1190.
- Crude Oil: The black gold is moving in a rectangular pattern on a 30 minute. The near term support is at the $57 mark and the resistance is at 63.
- VIX: Volatility index gained nearly 9.50% on the last trading day.
Top Economic data
12:30 GMT
USD – Unemployment Claims
14:30 GMT
USD – Natural Gas Storage
23:45 GMT
NZD – Trade Balance
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