Currencies
- EUR/USD: The pair fell from OUR identified resistance zone (given on the 15th February) on a 4 hour time frame. The next support is near the 1.08832 level and the resistance is 1.1387.
- USD/JPY: The pair is trading below the downward trend line on a 4 hour time frame. The near term support is at 109.60 and the resistance is at 115.83.
- GBP/USD: The pair has broken below the 50 and 100 day moving average on a 4 hour time frame. The next resistance is at 1.4229 and the support is 1.3852.
Indicators
Indices
- Asian markets closed mostly higher on the final trading day of the week. The Shanghai index was the best performer during the session and it closed higher with a gain of 0.95%. The index is down by 9.53% during the past 5 sessions.
- European futures are trading higher during the early hours of trading. The DAX index is trading higher with a gain of 2.29%. The index is down by nearly 3.58% over the past five sessions.
- The US markets are trading higher ahead of the Prel GDP data. The Dow Jones index was the best performer on the last trading day with a gain of 1.29%.
Top News5
- The Japanese core CPI y/y data came in at 1.1% at while the forecast was for 1.2%.
- The Spanish Flash CPI m/m data came in at -0.8% and the previous reading was at -0.5%.
Market Sentiment
- Crude Oil: The black gold is trading above its upward trend line on a 4 hour time frame. The next support is near the 31.28 and the resistance is 34.91.
- Gold: The precious metal is trading below its downward trend line on a 4 hour time frame. The next resistance is at 1260 and the support is at 1219.
- The VIX index dropped by 7.77% during the last session.
Top Economic data
Day 1
ALL – G20 Meeting
13.30 GMT
USD – Prelim GDP q/q
Trends
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