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 1.2173 and the support is at 1.1607.
- USD/JPY: The pair is trading in a downward channel on a 30 minute time frame. The next support is at 117.01 and resistance at 120.30
- GBP/USD: The pair is trading in a rectangular pattern on a 30 minute time frame. The resistance is near the 1.5747 and the support is at 1.50
Indices
- Asian Markets closed mixed be building on the gains on top of yesterday. The Hang Seng index is the best performing index during the session and it closed higher with a gain of 0.57%. The index is down nearly by 1.85% in the past 5 days.
- European stock futures are trading higher during the early hours of trading. The CAC 40 index is the best performing index during the session and it is trading higher with a gain of 0.20%. The index is up by almost 2.84% in the past 5 days.
- US Indices futures are trading higher ahead of the JOLTS data . Most indices closed lower during the last session and the NASDAQ index was the worst performer with a loss of 0.83%.
TOP News
- Brent and WTI fell to their 6 years low yesterday and the selling is taking off where it finished off yesterday.
- The Chinese Trade balance data came in at 49.6B while the forecast was at 48.9B.
Things to Remember
Manage your stops not the expectations
Market Sentiment
- Gold: The precious metal is trading in a strong uptrend on a 30 monte time frame. The price is trading above its upward trend line. The next support is near the 1200 and the next resistance is near the 1250.
- Crude Oil: The black gold has been hit by another wave of selling on a 30 minute time frame. The near term support is at the $43.0 mark and the resistance is at 48.
- VIX: Volatility index gained nearly 11.67% on the last trading day.
News Agenda For Today
09:30 GMT
GBP – CPI y/y
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.