Daily Briefing
Currencies
- EUR/USD: The pair has broken upward trend line on a 60 minute time frame. The next resistance is at 1.1435 and the support is at 1.1128.
- USD/JPY: The pair has broken its downward trend line on a 30 minute time frame. The next support is at 118.35 and resistance at 121.18.
- GBP/USD: The pair is trading below its downward trend line on a 30 minute time frame. The resistance is near the 1.58 and support is at 1.5531.
Indicator
Indices
- Asian Markets closed higher by building up gains on top of yesterday. The Shanghai index was the best performing index during the session and it closed higher with a gain of 3.84%. The index is down nearly by 10.36% in the past 5 days.
- European indices markets are trading higher 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 1.72%. The index is up by almost 3.05% in the past 5 days.
- US futures are also trading higher ahead of the building permit data week. Most indices closed higher during the last session and the NASDAQ index was the best performer with a gain of 0.59%.
TOP News
- The ECB has confirmed that they will keep the ELA line open for Greece even if the country defaults on its payments.
- The ECB officials said today they are standing ready to pump more QE if the inflation part is not improved.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
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 4 hour time frame. The next support is near the 1200 and the next resistance is near the 1235.
- Crude Oil: The black is consolidating on a 30 minute. The near term support is at the $58.50 mark and the resistance is at 65.
- VIX: Volatility index jumped nearly 2.83 on the last trading day.
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