Daily Briefing
Currencies
- EUR/USD: The pair is trading near its 50 day moving average on a 30 minute time frame. The next resistance is at 1.1225 and the support is at 1.0963.
- 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 is trading below its 50 day but above its 100 day moving average 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 on the first trading day of the week. The Shanghai index is the worst performing index during the session and it closed lower with a loss of 3.34%. The index is down nearly by 2.30% in the past 5 days.
- European markets are trading lower during the early hours of trading. The FTSE MIB index is the worst performing index during the session and it is trading lower with a loss of 3.80%. The index is down by almost 3.55% in the past 5 days.
- US futures are trading lower on the back of the Greek default situation. Most indices closed lower during the last session and the NASDAQ index was the worst performer with a loss of 1.19%.
TOP News
- European officials said that there will be no proposal for Greece.
- Greek stock market remain closed due to the crisis and capital control has occupied the street with a limit of 60 euro withdrawal limit.
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Things to Remember
Use your stops and manage the risk
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 5.66% on the last trading day.
Top Economic data
no news
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