Currencies
- EUR/USD: The pair is trading in a downward trend line on a 30 minute time frame. The support is near the 1.2364 and the resistance is near the 1.2589.
- USD/JPY: The dollar yen pair is trading above the upward trend line on a 30 minute time frame and as long as its trading above this trend line, the bias stays for further upward move The support is near the 1.1632 and the resistance is near the 119.
- GBP/USD: Cable is has broken its downward trend line on a 30 minute time frame. The next support is near the 1.5582 and the resistance is at 1.5802.
Indices
- Asian Markets are closed lower on the first trading day of the week. The Hang Seng index was the worst performing index during the session and closed with a loss of 2.59%.
- European indices opened in a negative territory this morning. The FTSE MIB index is the best performing index during the session and it up nearly by 1.59%.
- US futures are trading lower this morning ahead of the ISM manufacturing data. The S&P 500 index was the worst performing index during the last session and it closed lower with a loss of 0.23%.
TOP News
- The Spanish manufacturing data surprised towards the upside with a much better reading of 54.7 while the previous reading was at 52.6.
- The Italian manufacturing was very disappointing and have dipped below the 50 level which represents a contraction. the final reading was at 49.0
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Things To Remember
- Manage your risk not your expectations.
Market Sentiment
- Gold: The precious metal is recovering from its earlier losses this morning and have found a support near the 1140 mark. The resistance is near the 1188 mark .
- Crude Oil: The black gold is under tremendous pressure after of OPEC decision and on a daily time frame, the support of $60 is in focus and break of this will open the floor towards the $55. The resistance remains towards the $70 mark.
- VIX- Volatility index decreased during the last by -2.9%.
NEWS –
10:30 GMT GBP - Manufacturing PMI
16:00 GMT - USD – ISM 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.