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European Markets Up On Abe’s Victory

Published 12/15/2014, 06:51 AM
Updated 02/02/2022, 05:40 AM

Daily Briefing

Currencies

  • EUR/USD: The pair is trading above its upward trend line on a 30 minute time frame. The next support is at 1.2238 and the next resistance is at 1.2607.
  • USD/JPY: The pair is trading above its upward trend line on a 30 minute time frame. The next support is at 116.64 and resistance at 121.53
  • GBP/USD: The pair is trading in a rectangular pattern on a 30 minute time frame. The resistance is near the 1.5904 and the support is at 1.5457

Indices

  • Asian Markets closed lower on the first trading of the week. The Nikkei 225 index was the worst performing index during the session and it closed lower with a loss of 1.57%. The index is down nearly by 2.45% in the past 5 days.
  • European stock markets are trading higher during the early hours of trading. The IBEX 35 index is the best performing index during the session and it is trading higher with a gain of 0.29%. The index is down by almost 4.95% in the past 5 days.
  • US Indices futures are trading higher but traders are cautious ahead of the FOMC meeting this week. Most indices closed lower on Friday and the S&P 500 index was the worst performer with a loss of 1.64%.

Indicators

indicators 15-12-2014

TOP News

  • The Australian new motor vehicles sales m/m came in at -0.6% which better than the previous reading of -1.8%.
  • The Swiss PPI m/m data fell short of expectations with the reading of -0.7% while the forecast was at 0.2% and the previous reading was -0.1%

Things to Remember

Manage your stops and dot let your winners turn into losers.

Market Sentiment

  • Gold: The precious metal is trading above its upward trend line on a 30 minute time frame. The support is near the 1180 and the next resistance is near the 1240.
  • Crude Oil: The black gold has broken its major support of $60 on a 30 minute time frame yesterday. The near term support is at the $55 mark and the resistance is at 65.
  • VIX: Volatility index jumped nearly 4.98% yesterday.

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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.

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