Daily Briefing
Currencies
- EUR/USD: The pair is trading in a support zone (1.0995-1.0949) on a 60 minute time frame. The next resistance is at 1.1326 and the support is at 1.0949.
- USD/JPY: The pair is moving in a sideway pattern on a time frame. The next support is at 118.35 and resistance at 121.18.
- GBP/USD: The pair is trading above its upward 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 higher on the first trading day of the week. The Hang Seng index was the best performing index during the session and it closed higher with a gain of 1.71%. The index is down nearly by 10.36% in the past 5 days.
- European futures markets are trading lower during the early hours of trading. The FTSE MIB index is the worst performing index during the session and it is trading lower with a loss of 2.11%. The index is up by almost 3.05% in the past 5 days.
- US futures are closed for the bank holiday. 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
- Greece confirmed over the weekend that it will not be able to pay its bill on time- the IMF payment.
- Spain’s governing popular party have lost their grip over the weekend’s regional election.
Things to Remember
Stop loss is your biggest friend so make sure you use it
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Market Sentiment
- Gold: The precious metal is trading below its downward trend line on a 30minute time frame. The next support is near the 1200 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 $58.50 mark and the resistance is at 65.
- VIX: Volatility index gained nearly 0.17% on the last trading day.
Top Economic data
No News today
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