Daily Briefing
Currencies
- EUR/USD: The pair has broken out of its symmetrical triangle pattern 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 118.38 and resistance at 120.16
- GBP/USD: The pair is moving in a side way pattern 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 on the first trading day of the week. The Shanghai Composite is the best performing index during the session and it closed higher with a gain of 2.60%. The index is up nearly by 2.02% in the past 5 days.
- European stock futures 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 1.35%. The index is up by almost 0.84% in the past 5 days.
- US futures are also trading lower ahead of the pending home sales data. Most indices closed higher during the last session and the NASDAQ index was the worst performer with a loss of 0.58%.
TOP News
- The Swiss KOF economic Barometer data came in at 90.8 while the previous reading was at 90.3.
- The Spanish flash CPI y/y data came in at -0.7% which was much better than the forecast of -1.0%
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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 below its downward 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 below its downward trend line 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 dropped nearly 4.62% on the last trading day.
News Agenda For Today
All Day
EUR- German IFO Business climate
Trend
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.