Daily Briefing
Currencies
- EUR/USD: The pair is trading below its downward trend line on a 240 minute time frame. The next support is at 1.2318 and the next resistance is at 1.2895.
- USD/JPY: The pair is trading above its upward trend line on a 240 minute time frame. The next support is at 109.18 and resistance at 116
- GBP/USD: The pair has broken its rectangular pattern on a 240 minute time frame. The resistance is near the 1.6588 and the support is at 1.5780.
Indices
- Asian Markets closed mostly higher by adding their gains on top of yesterday. The Nikkei index was the best performing index during the session and it closed higher with a gain of 2.05%. The index is down nearly by 0.34% in the past 5 days.
- European stock markets are trading lower during the early hours of trading. The IBEX index is the best performing index during the session and it is trading higher with a gain of 0.29%. The index is up by almost 0.29% in the past 5 days.
- US Indices futures are trading flat after closing at record high yesterday. Most indices closed higher yesterday and the S&P 500 index was the best performer with a gain of 0.42%.
TOP News
- The Japanese current account data came in at 0.41T which was higher than the previous reading of 0.13T.
- The Australian business confidence fell short of expectation this morning. The final data came in at 4 while the previous reading war 5.
- The UK BRC retail sales monitor data came much stronger than the previous reading of -2.1% while the current reading was at 0.0%.
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Things to Remember
- Stops are your biggest friends so make sure use them.
Market Sentiment
- Gold: The precious metal has bounced slightly up today as most of the technical indicators are giving oversold signals. The support is at 1100 and the resistance is at 1180.
- Crude Oil: The black gold is under pressure this morning once again and it is trading below its downward trend line on a 240 time frame. The next resistance is at 85 and the support is at 70
- VIX: Volatility index dropped nearly -3.43% yesterday.
News Agenda For Today
20:00 GMT
NZD – RBNZ Financial Stability Report
20:05 GMT
NZD – RBNZ Gov Wheeler Speaks
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.