Daily Briefing
Currencies
- EUR/USD: The pair is trading below its downward trend line on a 30 minute time frame. The next resistance is at 1.1211 and the support is at 1.0751.
- USD/JPY: The pair is trading below its downward trend line on a 30 minute time frame. The next support is at 119.32 and resistance at 121.06
- GBP/USD: The pair has formed a symmetrical triangle on a 30 minute time frame. The resistance is near the 1.5112 and support is at 1.4745
Indicator
Indices
- Asian Markets closed mostly higher by building their gains on top of yesterday. The Hang Seng index is the best performing index during the session and it closed higher with a gain of 0.53%. The index is up nearly by 2.02% in the past 5 days.
- European stock futures 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 0.08%. The index is up by almost 0.84% in the past 5 days.
- US futures are also trading lower ahead of the core durable data. Most indices closed lower during the last session and the NASDAQ Composite index was the worst performer with a loss of 0.58%.
TOP News
- The German IFO business climate data was as healthy as it could be, and have printed another strong reading this morning
- The Swiss UBS consumption indicator came in at 1.19 while the previous reading was at 1.11
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Things to Remember
Stop loss is your biggest friend so make sure you use it
Market Sentiment
- Gold: The precious metal is trading above its upward trend line on a 30 minute time frame. The next support is near the 1140 and the next resistance is near the 1230.
- Crude Oil: The black gold is trading in a sideway pattern on a 30 minute time frame. The near term support is at the $46.0 mark and the resistance is at 48.50.
- VIX: Volatility index gained nearly 1.57% on the last trading day.
News Agenda For Today
09:00 GMT
EUR- German IFO Business climate
12:30 GMT
USD – Core durable good order
14:30 GMT
USD – Crude Oil Inventories
Trends
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.