Currencies
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EUR/USD: The pair is trading in an upward channel on a 4 hour time frame. The next support is near the 1.1183 level and the resistance is at 1.1495.
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USD/JPY: The pair has broken is trading below its downward trend line on a 4 hour time frame. The near term support is at 106 and the resistance is at 110.74.
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GBP/USD: The pair is trading below its 50 (1.4203) and 100 (1.4230) day moving average on a 4 hour time frame. The next resistance is at 1.4467 and the support is 1.3896.
Indicators
EUR/USD: The pair is trading in an upward channel on a 4 hour time frame. The next support is near the 1.1183 level and the resistance is at 1.1495.
USD/JPY: The pair has broken is trading below its downward trend line on a 4 hour time frame. The near term support is at 106 and the resistance is at 110.74.
GBP/USD: The pair is trading below its 50 (1.4203) and 100 (1.4230) day moving average on a 4 hour time frame. The next resistance is at 1.4467 and the support is 1.3896.
Indices
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Asian markets closed mostly lower on the first trading day of the week. The Nikkei Shanghai index was the worst performer during the session and it closed lower with a loss of 0.44%.
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European futures are trading lower during the early hours of trading. The CAC40 index is trading lower with a loss of 0.76%.
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The US markets are trading higher ahead of the ADP employment data. The S&P index was the best performer on the last trading day with a gain of 0.28%.
Top News
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The Australian home loans m/m data came in at 1.5% while the previous reading was at -4.4%.
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The Chinese CPI y/y data came in at 2.3% in contrast to the previous reading of 2.3%.
Market Sentiment
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Crude Oil: The black gold is trading above the 100 day (38.72) on a 4 hour time frame. The next support is near the 36.56 and the resistance is 42.91.
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Gold: The precious metal has broken its downward trend line on a 4 hour time frame. The next resistance is at 1260 and the support is at 1206.
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The VIX index dropped by 4.95% during the last session.
by Naeem Aslam