Daily Briefing
Currencies
- EUR/USD: The pair is trading below the 50 day and 100 day moving average on a 60 minute time frame. The next support is at 1.2914 and the next resistance is at 1.3392
- USD/JPY: The pair is trading above its upward trend line on a 60 minute time frame. The next support is at 103.78 and resistance at 105.92
- GBP/USD: The pair is trading below its downward trend line on a 60 minute time frame. The resistance is near the 1.6606 and the support is at 1.6252.Indices
Indices
- Asian Markets closed lower on the final trading day of the week. The Hang Seng index is the worst performing index during the session and it closed lower with a loss of 0.23%. The index is nearly by 0.82% in the past 5 days.
- European stock markets are trading higher during the early hours of trading. The DAX index is the best performing index during the session and it is trading higher with a gain of 0.23%. The index is up by almost 0.29% in the past 5 days.
- US Indices futures are trading lower ahead of the NFP data. Most indices closed lower yesterday and the NASDAQ index was the worst performer with a loss of 0.23%.
Top News
- The Japanese leading indicator did not fell short of previous reading of 105.9. The final number was at 106.5
- The German industrial production data surpassed the expectations with the reading of 1.9%. The forecast was 0.5% while the previous reading was at 0.4%
- Apple (NASDAQ:AAPL) announced that it is in a process of making the biggest iPad and this has boosted its shares in the European markets.
Things to Remember
- Trade the trend as it is your only friend
Market Sentiment
- Gold: The precious metal is trading below its downward trend line on a 60 minute time frame. The next resistance is at 1280 and the support is at 1240
- Crude Oil: The black gold is trading above its upward trend line on a 60 minute time frame. The next resistance is at 96 and the support is at 92.
- VIX: Volatility index increased nearly 2.27% yesterday.
News Agenda For Today
12:30 GMT
CAD – Employment Change
12:30 GMT
CAD – Unemployment rate
12:30 GMT
USD – Non – Farm Employment Change
12:30 GMT
USD Unemployment Rate
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