Daily Briefing
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 108.
- 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.
Indices
- Asian Markets closed mostly lower by erasing some of their gains from yesterday. The Hang Seng index was the worst performing index during the session and it closed lower with a loss of 0.67%. The index is up nearly by 0.82% in the past 5 days.
- European stock markets are trading lower during the early hours of trading. The CAC 40 index is the worst performing index during the session and it is trading lower with a loss of 0.37%. The index is up by almost 0.29% in the past 5 days.
- US Indices futures are trading higher ahead of the FOMC meeting this week. Most indices closed lower yesterday and the NASDAQ index was the worst performer with a loss of 0.88%.
TOP News
- The Chinese PPI data fell short of expectation with the reading of -0.2%. The forecast number was 0.2%
- The recent Scottish referendum shows the NO note in lead.
- Alibaba IPO will take place this week and orders show strong demand.
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 1200 while the resistance is at 1260.
- 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 3.98% on Friday.
NEWS Agenda For Today
No NEWS
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.