Daily Briefing Currencies
- EUR/USD: The pair is moving in a sideway pattern on a 30 minute time frame. The next resistance is at 1.1970 and the support is at 1.1475.
- USD/JPY: The pair has formed a symmetrical triangle pattern on a 30 minute time frame. The next support is at 115.70 and resistance at 117.60.
- GBP/USD: The pair is trading below its downward trend line on a 30 minute time frame. The resistance is near the 1.5747 and support is at 1.5071.
Indices
- Asian Markets closed mostly higher by building their gains on top of yesterday. The Nikkei index is the best performing index during the session and it closed higher with a gain of 0.43%. The index is down nearly by 5.16% in the past 5 days.
- European stock futures are trading higher during the early hours of trading. The FTSE index is the best performing index during the session and it is trading higher with a gain of 0.47%. The index is up by almost 6.39% in the past 5 days.
- US Indices futures are trading higher ahead of the unemployment data. Most indices closed higher during the last session and the NASDAQ index was the best performer with a gain of 1.38%.
TOP News
- ECB press conference and their decision about the QE could bring immense amount of volatility in the market.
- China has pumped another 8 billion dollars in the banking system to improve the liquidity.
- The Chinese industrial production data also came much stronger with a reading of 7.9%.
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Things to Remember Manage your stops not the expectations. Market Sentiment
- Gold: The precious metal has broken out of its flag pattern on a 30 minute time frame. The price is trading above its upward trend line. The next support is near the 1272 and the next resistance is near the 1330.
- Crude Oil: The black gold is consolidating in a side way pattern on a 30 minute time frame. The near term support is at the $43.0 mark and the resistance is at 50.
- VIX: Volatility index dropped nearly -5.23% on the last trading day.
News Agenda For Today 12:45 GMT EUR – Minimum Bid Rate 13:30 GMT USD – Unemployment Claims 15:30 GMT USD – Crude Oil Inventories
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.