Currencies
- EUR/USD: The pair is trading below its downward trend line on a 60 minute time frame. The next support is at 1.2811 and the next resistance is at 1.3113.
- USD/JPY: The pair is trading above its upward trend line on a 60 minute time frame. The next support is at 103.89 and resistance at 107.12
- GBP/USD: The pair is trading in its support zone on a 60 minute time frame. The resistance is near the 1.6560 and the support is at 1.5907.
Indicators
Indices
- Asian Markets closed mostly higher on the first trading day of the week. The Nikkei Index was the best performing index during the session and it closed higher with a gain of 0.28%. The index is up nearly by 0.82% in the past 5 days.
- European stock markets are trading higher during the early hours of trading. The FTSE MIB index is the best performing index during the session and it is trading higher with a gain of 0.13%. The index is up by almost 0.29% in the past 5 days.
- US Indices futures are trading higher ahead of the JOLTS Jobs opening data . Most indices closed lower yesterday and the S&P index was the worst performer with a loss of 0.28%.
TOP News
- The Australian NAB Business confidence fell short of previous reading of 10. The final number was at 8.0
- The Japanese consumer confidence data came in at 41.2 while the previous reading was at 41.5%.
- iPhone 6 will be released today and rumours are that we may see an iWatch today as well.
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Things to Remember
- Stops are your biggest friends so make sure use them.
Market Sentiment
- Gold: The precious metal is trading below its downward trend line on 60 minute time frame and the near term support is at 1240 while the resistance is at 1300.
- Crude Oil: The black gold is under tremendous selling pressure and the support of $90 is in focus. The resistance is at 98.
- VIX: Volatility index gained nearly 4.72% yesterday.
News Agenda For Today
08:30 GMT
GBP – Manufacturing Production m/m
Trend
The CAD and JPY are trending up against the USD, while the AUD and NZD are trading lower against the USD on an intra-day basis.
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.