Currencies
- EUR/USD: The pair is trading above the 50 day and 100 day moving average on a 60 minute time frame. The next support is at 1.3100 and the next resistance is at 1.3392.
- USD/JPY: The pair is trading above its upward trend line on a 60 minute time frame. The next support is at 102.73 and resistance at 105.70
- GBP/USD: The pair is trading below its downward trend line on a 60 minute time frame. The resistance is near the 1.6714 and the support is at 1.6497.
Indices
- Asian Markets closed higher on the first trading day of the week. The Shanghai index is the best performing index during the session and it closed higher with a gain of 0.85%. The index is up nearly by 0.04% in the past 5 days.
- European stock markets 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 0.04%. The index is up by almost 1.94% in the past 5 days.
- Most US indices closed higher on Friday and the NASDAQ index was the worst performer with a gain of 0.49%.
TOP News
- The German final GDP data matched the previous reading of -0.2%.
- The Spanish manufacturing PMI data fell short of expectations with the reading of 52.8. The forecast was 53.4 while the previous reading was at 53.9
- Rumors are running high that apple will announce wearable device on Sept 9.
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Things to Remember
- Trade the trend as it is your only friend
Market Sentiment
- Gold: The precious metal is trading below the 1300 mark and the near term support is near the 1270 and the resistance remains at 1320.
- Crude Oil: The black gold has broken out of a symmetrical triangle pattern on 6o minute time frame. The next resistance is near the 98 zone and the support is at 93.50.
- VIX:Volatility index increased nearly 1.02% yesterday.
News Agenda For Today
08:30 GMT: GBP – Manufacturing PMI
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.