Daily Briefing
Currencies
- EUR/USD: The pair is trading above its upward trend line on a 30 minute time frame. The next resistance is at 1.1466 and the support is at 1.1223.
- USD/JPY: The pair is trading below the 50 and 100 day moving average on a 30 minute time frame. The next support is at 122.45 and resistance at 125.85.
- GBP/USD: The pair is trading above its upward trend line on a 30 minute time frame. The resistance is near the 1.6003 and support is at 1.5658
Indicators
Indices
- Asian Markets closed mostly higher on the first trading day of the week. The Nikkei index is the best performing index during the session and it closed higher with a gain of 1.26%. The index is up nearly by 2.30% in the past 5 days.
- European markets are trading higher during the early hours of trading. The DAX index is the worst performing index during the session and it is trading higher with a gain of 3.03%. The index is down by almost 3.55% in the past 5 days.
- US futures are trading lower ahead of the EU decision on Greece. Most indices closed lower during the last session and the DOW index was the worst performer with a loss of 0.55%.
TOP News
- Greece is very much in focus and deal is expected by the end of today.
- EU has extended their sanctions on Russia
Things to Remember
Use your stops and manage the risk
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Market Sentiment
- Gold: The precious metal is trading in a symmetrical triangle pattern on a 30 minute time frame. The next support is near the 1160 and the next resistance is near the 1190.
- Crude Oil: The black gold has spiked up on a 30 minute. The near term support is at the $57 mark and the resistance is at 63.
- VX: Volatility index increased nearly 5.44% on the last trading day.
Top Economic data
15:00 GMT
USD– Home Sales
08:30 GMT
GBP – Claimant Count Change
Disclosure and 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