Daily Briefing
Currencies
- EUR/USD: The pair has formed a reverse head and shoulder pattern on a 30 minute time frame. The next resistance is at 1.1326 and the support is at 1.0817.
- USD/JPY: The pair is trading above its 50 and 100 day moving average on a 30 minute time frame. The next support is at 121 and resistance at 124.20.
- GBP/USD: The pair is trading below its downward trend line on a 30 minute time frame. The resistance is near the 1.5552 and support is at 1.5161.
Indicators
Indices
- Asian Markets closed mostly higher by building up 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 0.22%. The index is down nearly by 10.36% in the past 5 days.
- European futures markets are trading higher during the early hours of trading. The FTSE index is the best performing index during the session and it is trading lower with a loss of 0.64%. The index is up by almost 3.05% in the past 5 days.
- US futures are trading lower ahead of the unemployment data. Most indices closed lower during the last session and the S&P index was the worst performer with a loss of 0.23%.
TOP News
- The Australian M1 leading m/m data came in at 0.1 while the previous reading was at -0.3%.
- The Australian private capital expenditure fell below the expectation with reading of -4.4%. The forecast was for -2.3%
Things to Remember
Stop loss is your biggest friend so make sure you use it
Market Sentiment
- Gold: The precious metal is trading below its downward trend line on a 30minute time frame. The next support is near the 1180 and the next resistance is near the 1235.
- Crude Oil: The black is suffering some heavy selling pressure on a 30 minute. The near term support is at the $56 mark and the resistance is at 62.
- VIX: Volatility index dropped nearly 5.62% on the last trading day.
Top Economic data
09:30 BST GBP GDP estimates for Q2
13:30 BST USD US Unemployment Claims data
Trends
