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US Futures Trade Lower Ahead Of Durable Goods Data

Published 08/26/2014, 06:44 AM
Updated 02/02/2022, 05:40 AM

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.

Indicators

Indicator Chart

Indices

  • Asian Markets closed lower by erasing some of their gains which were made yesterday. The Shanghai Composite is the worst performing index during the session and it closed lower with a loss of 1.00%. The index is trading low by 1.45% 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 0.34%. The index is up by almost 2.45% in the past 5 days.
  • US Indices futures are trading lower after ahead of the durable good data. Most indices closed higher yesterday and the S&P 500 index was the best performer with a gain of 0.48%.

TOP News

  • The Chinese CM Leading index data matched the previous reading of 1.3%
  • The UK’s BBA Mortgage approvals data fell short of expectations with the reading of 42.8K. The forecast was 44.2K while the previous reading was at 43.2K.
  • Ukraine is claiming that they have captured a Russian soldier and this is ahead of the peace talks between the two countries .

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

12:30GM

USD – Core Durable Goods Orders m/m

14:00GMT

USD – CB Consumer Confidence

Trend

The GBP and SEK are trending up against the USD, while the JPY and NZD are trading lower against the USD on an intra-day basis.

Major Trend Indicator Chart

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.

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