Currencies
EUR/USD: The pair is trading above its upward trend line on a 4 hour time frame. The next support is near the 1.1143 level and the resistance is at 1.1493.
USD/JPY: The pair is trading in its downward channel on a 4 hour time frame. The near term support is at 108.73 and the resistance is at 114.85.
GBP/USD: The pair is trading below its 50 (price 1.4254) and 100 day (price 1.4264) moving averages on a 4 hour time frame. The next resistance is at 1.4848 and the support is 1.4052.
Indicators
Indices
Asian markets closed mostly lower by adding losses on top of yesterday. The Nikkei index was the worst performer during the session and it closed lower with a loss of 0.10%.
European futures are trading higher during the early hours of trading. The FTSE100 index is trading higher with a gain of 0.47%.
The US markets are trading higher ahead of the FOMC minutes. The S&P500 index was the worst performer on the last trading day with a loss of 1.01%.
Top News
The Chinese Caxin data came in at 52.2, while the forecast was for 52.2.
The German Industrial production m/m came in at -0.5%, while the forecast was for -1.8%.
Market Sentiment
Crude Oil: The black gold is trading below its 100 day moving average (100 MA reading 38.63) on a 4 hour time frame. The next support is near the 35.89 and the resistance is 41.91.
Gold: The precious metal is trading below its downward trend line on a 4 hour time frame. The next resistance is at 1260 and the support is at 1179.
The VIX index dropped 6.09% during the last session.
by Naeem Aslam