Daily Briefing
Currencies
- EUR/USD: The pair is trading below its downward trend line on a 240 minute time frame. The next support is at 1.2318 and the next resistance is at 1.2767.
- USD/JPY: The pair is trading above its upward trend line on a 240 minute time frame. The next support is at 109.18 and resistance at 116
- GBP/USD: The pair has broken its rectangular pattern on a 240 minute time frame. The resistance is near the 1.5990 and the support is at 1.5694.
Indices
- Asian Markets closed mostly higher by adding their gains on top of yesterday. The Nikkei index was the best performing index during the session and it closed higher with a gain of 1.14%. The index is down nearly by 0.34% in the past 5 days.
- European stock futures markets are trading higher during the early hours of trading. The DAX index futures is the best performing during the session and it is trading higher with a gain of 0.29%. The futures index is up by almost 0.29% in the past 5 days.
- US Indices futures are trading higher ahead of unemployment claims data. Most indices closed higher yesterday and the S&P 500 index was the best performer with a gain of 0.42%.
TOP News
- The Japanese core machinery data came in at 2.9% which was higher than the forecast of -1.0%.
- The Chinese industrial data fell short of expectation this morning. The final data came in at 7.7% while the previous reading war 8%.
- The German final CPI m/m data matched the forecast and previous reading of 0.3%.
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Things to Remember
- Stops are your biggest friends so make sure use them.
Market Sentiment
- Gold: The precious metal has formed a symmetrical triangle pattern on a 240 minute frame and if broken towards the downside which will be in the direction of current trend, the price could challenge the support of 1125. The resistance is near the 1180.
- Crude Oil: The black gold is under pressure this morning once again and it is trading below its downward trend line on a 240 time frame. The next resistance is at 85 and the support is at 70
- VIX: Volatility index dropped nearly -3.43% yesterday.
News Agenda For Today
13:30 GMT
USD – Unemployment Claims
16:00 GMT
USD – Crude Oil Inventories
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.