Currencies
- EUR/USD: The pair has broken out of the side way pattern towards the upside on a 4 hour time frame. The next support is near the 1.1083 level and the resistance is 1.1350.
- USD/JPY: The pair has broken its downward trend line on a 4 hour time frame. The near term support is at 109.60 and the resistance is at 115.83.
- GBP/USD: The pair has broken a wedge pattern towards the downside on a 4 hour time frame. The next resistance is near 1.4526 and the support is 1.4147.
Indicators
Indices
- Asian markets closed mostly higher by erasing some of their losses from yesterday. The Nikkei index was the best performer during the session and it closed higher with a gain of 2.28%. The index is down by 9.53% during the past 5 sessions.
- European futures are trading higher during the early hours of trading. The FTSE index is trading higher with a gain of 0.10%. The index is down by nearly 3.58% over the past five sessions.
- The US markets are trading higher ahead of the Philly Fed Manufacturing index data. The S&P index was the best performer on the last trading day with a gain of 1.65%.
Top News5
- The Australian unemployment rate data came in 6.0% at while the forecast was for 5.8%.
- The Chinese CPI data came in at 1.8% and the previous reading was at 1.6%.
Market Sentiment
- Crude Oil: The black gold is trading below its downward trend line on a 4 hour time frame. The next support is near the 26.02 and the resistance is 33.52.
- Gold: The precious metal is trading below its downward trend line on a 4 hour time frame. The next resistance is at 1216 and the support is at 1180.
- The VIX index dropped by 7.74% during the last session.
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Top Economic data
12:30 GMT
AUD – Australian employment change data | unemployment rate
13:30 GMT
USD – Philly Fed manufacturing index
19:00 GMT
FOMC Meeting Minutes | Unemployment claims
Trends
Disclosure & 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.
by Naeem Aslam