Currencies
- EUR/USD: This pair is trading below its downward trend line on a 4 hour time frame. The next support is near the 1.0518 level and the resistance is 1.0899.
- USD/JPY: The pair has formed a symmetrical triangle pattern on a 4 hour time frame. The near term support is at 121.35 and the resistance is at 124.63.
- GBP/USD: The pair has pierced the Bollinger band on a 4 hour time frame.The next resistance is near 1.5040 and the support is 1.4852.
Indicators
Indices
- Asian markets closed higher by adding to their gains on top of yesterday. The Shanghai Index index is the best performer during the session and it closed higher with a gain of 1.36%. The index is down 5.01% during the past 5 sessions.
- European markets are trading higher during the early hours of trading. The FTSE 100 index is trading higher with a gain of 0.45%. The index is up by nearly 1.00% over the past five sessions.
- The US futures are trading higher ahead of the unemployment claims data. The S&P500 index was the worst performer yesterday with a loss of 1.08%.
Top News
- The Australian trade balance data came in at -3.31B while the forecast was for -2.61B.
- The Chinese Caixin services data fell short of expectation of 51.2 while the forecast for 53.1.
Market Sentiment
- Crude Oil: The black gold is trading below the 50 and 100 day moving average on a 4 hour time frame. The next support is near the 38.40 and the resistance is 44.74.
- Gold: The precious metal is trading below the downward trend line on a 4 hour time frame. The next resistance is at 1068 and the support is at 1030.
- The VIX index surged 6.68% during the last session.
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Top Economic data
09:30 GMT
GBP – Services PMI
12:45 GMT
EUR – Minimum Bid Rate
13:30 GMT
USD – Unemployment Claims
15:00 GMT
USD – ISM Non-Manufacturing PMI
15:30 GMT
USD – Natural Gas Storage
Trends
