Daily Briefing
Currencies
- EUR/USD: The pair has broken its minor resistance (1.3320-1.3292) on a 60 minute time frame. The next support is at 1.3170 and the next resistance is at 1.3413.
- USD/JPY: The pair is trading in a resistance zone of 103.25-103.41 on a 60 minute time frame. The next support is at 101.79 and resistance at 103.93
- GBP/USD: The pair is trading below the downward trending line on a 60 minute time frame. The resistance is near the 1.6651 and the support is at 1.6537.
Indices
- Asian Markets closed mostly higher on the first trading day of the week. The Nikkei index is the best performing index during the session and it closed higher with a gain of 0.47%. The index is up nearly by 1.91% in the past 5 days.
- European stock markets are trading lower during the early hours of trading. The DAX index is the best performing index during the session and it is trading higher with a gain of 1.03%. The index is up by almost 2.49% in the past 5 days.
- US Indices futures are trading lower after ahead of the new home sales date. Most indices closed higher on Friday and the Nasdaq index was the best performer with a gain of 0.47%.
TOP News
- The German IFO business climate data fell short of the previous reading of 108. The final reading was at 106.3
- The UK market is closed today due to public holiday .
- The MPC official bank rate votes has changed and two members of the committee have become hawkish when it comes to an increase in the interest rate.
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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 the 1300 mark and the near term support is near the 1270 and the resistance remains at 1320.
- Crude Oil: The black gold has bounced from its support of 92.50 on a 60 minute time frame. The next resistance is near the 94.45.
- Volatility S&P 500: Volatility index dropped nearly 2.47% on Friday.
News Agenda For Today
EUR 08:00 German IFO
USD 14:00 New Homes Sales
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.