Currencies
- EUR/USD: The pair has broken its downward trend line with a major move towards the upside on a 30 minute time frame. The next support is at 1.22 and the next resistance is at 1.2530.
- USD/JPY: The pair is trading above its upward trend line on a 30 minute time frame. The next support is at 117 and resistance at 120.0
- GBP/USD: The pair has formed reverse head and shoulder pattern on a 30 minute time frame. The resistance is near the 1.5816 and the support is at 1.5582
Indices
- Asian Markets closed sharply lower by erasing their profit from yesterday. The Hang Seng index was the worst performing index during the session and it closed lower with a loss of 5.1%. The index is up nearly by 11.69% in the past 5 days.
- European stock markets are trading lower during the early hours of trading. The IBEX 35 is the worst performing index during the session and it is trading lower with a loss of 0.32%. The index is down by almost 1.00%% in the past 5 days.
- US Indices futures are trading lower ahead of economic data. Most indices closed lower yesterday and the S&P 500 index was the wort performer with a loss of 0.11%.
TOP News
- The Japanese current account data came in at 0.95T while the forecast was at 0.46T.
- The Chinese trade balance was much better than the forecast of 44.3B. The final number was at 54.5B.
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Things to Remember
Stops are your biggest friends so make sure use them.
Market Sentiment
- Gold: The precious metal is consolidating mostly on a 30 minute time frame. The support of 1180 for the uptrend to continue. The next resistance is near the 1240.
- Crude Oil: The black gold is selling sharp once again this morning on a 30 minute time frame. The near term support is at the $60 mark while the resistance is at 70.
- VIX: Volatility index junpped nearly 20% yesterday.
News Agenda For Today
10:30 GMT GBP Manufacturing production
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.