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 1.3250 and the next resistance is at 1.3521.
- USD/JPY: The pair is trading above its upward trend line on a 60 minute time frame. The next support is at 102.73 and resistance at 104.70
- GBP/USD: The pair is trading below its downward trend line on a 60 minute time frame. The resistance is near the 1.6742 and the support is at 1.6497.
Indices
- Asian Markets closed higher by erasing some of their losses which were made yesterday. The Nikkei Index is the best performing index during the session and it closed higher with a gain of 0.09%. The index is nearly by 0.82% in the past 5 days.
- European stock markets are trading lower during the early hours of trading. The DAX index is the worst performing index during the session and it is trading lower with a loss of 0.22%. The index is up by almost 0.29% in the past 5 days.
- US Indices futures are trading lower ahead of the crude oil data. Most indices closed higher yesterday and the NASDAQ index was the best performer with a gain of 0.30%.
TOP News
- The Australian construction work fell short of previous reading of -0.4%. The final number was at -1.2%
- The GFK German Consumer climate data fell short of expectations with the reading of 8.6. The forecast was 8.9 while the previous reading was at 8.9.
- Apple Inc (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 the 1300 mark and the near term support is near the 1270 and the resistance remains at 1320.
- Crude Oil: The black gold has formed a symmetrical triangle pattern on 6o minute time frame. The next resistance is near the 94.50 zone and the support is at 92.50.
- VIX: Volatility index increased nearly 2.01% yesterday.
News Agenda For Today
14:30 - 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.