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US Futures Lower Ahead of Factory Order Data

ByAvaTrade
AuthorAvaTrade
Published 04/04/2016, 06:24 AM
Updated 02/02/2022, 05:40 AM
FCHI
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JP225
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VIX
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Currencies

  • EUR/USD: The pair is trading above its upward trend line on a 4 hour time frame. The next support is near the 1.0801 level and the resistance is at 1.1493.

  • USD/JPY: The pair is trading above its upward trend line on a 4 hour time frame. The near term support is at 110.11 and the resistance is at 115.83.

  • GBP/USD: The pair is trading below its 50 (price 1.4239) and 100 day (price 1.4279) moving averages on a 4 hour time frame. The next resistance is at 1.4575 and the support is 1.4052.

Indicators

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Indices

  • Asian markets closed mostly lower on the first trading day of the week. The Nikkei index was the worst performer during the session and it closed lower with a loss of 0.25%.

  • European futures are trading lower during the early hours of trading. The CAC40 index is trading lower with a loss of 0.44%.

  • The US markets are trading lower ahead of the factory order data. The NASDAQ index was the best performer on the last trading day with a gain of 0.92%.

Top News

  • The Australian building approval m/m data came in at 3.1%, while the forecast was for 2.1%.

  • The Spanish unemployment change data came in at -58.2K, while the previous reading was at 2.2K.

Market Sentiment

  • Crude Oil: The black gold is trading below its 100 day moving average (100 MA reading 38.84) on a 4 hour time frame. The next support is near the 35.89 and the resistance is 41.91.

  • 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 1179.

  • The VIX index dropped 6.09% during the last session.

Top Economic data

Trend

by Naeem Aslam

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