Currencies
- EUR/USD: The pair has bounced from our Identified support zone on a 60 minute frame. The next support is at 1.3781 and the next resistance is at 1.390.
- USD/JPY: The pair fell near our Identified resistance zone (103-04-103.27) on a 60 minute time frame which represents a weakness for the price. The support is at 101.43 and resistance at 103.04.
- GBP/USD: The pair is trading below the 50day but above the 100 day moving average on a 60 minute time frame. The resistance is near the 1.6899 and the support is at 1.6828.
Indicators
Indices
- Asian Markets closed lower on the first trading day of the week. The Hang Seng index was the worst performer during the session and it closed lower with a loss of 0.70%. The index is down nearly 1.16% 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 0.86%. The index is down by almost 0.12% in the past 5 days.
- US Indices futures are trading lower ahead of the ISM manufacturing data. Most indices closed lower on Friday and the NASDAQ Composite index was the worst performer with a loss of 0
- .08%.
TOP News
- The Australian inflation gauge m/m data came in at 0.4%, while the previous reading was at 0.25%..
- The Australian building Approvals for m/m economic data came in at -3.5%, while the forecast was at -5.4% which was a lot higher
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Things to Remember
- Stops are your biggest friends so make sure use them.
Market Sentiment
- Gold: The precious metal is above the remarkable $1300 but the test is near the resistance zone 1330. The immediate support is near the 1274
- Crude Oil: The black gold has formed a double bottom pattern on a 4 hour time frame. The support is near the $ while the resistance is at 102.
- Volatility S&P 500: Volatility index dropped nearly by 2.57% yesterday.
News Agenda For Today
14:00 GMT
USD – ISM Non-Manufacturing PMI
Trend
The EUR and SEK are trending up against the USD, while the JPY and CHF are trading lower against the USD on an intra-day basis.
Disclosure & 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. by Naeem Aslam