Currencies
- EUR/USD: The pair is trading above the 50 day and 100 day moving average on a 60 minute time frame. The next support is at 1.3100 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 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 1.6714 and the support is at 1.6497.
Indicators
Indices
- Asian Markets closed lower by erasing some of their gains which were made yesterday. The Nikkei 225 is the worst performing index during the session and it closed lower with a loss of 0.48%. The index is up nearly by 0.04% 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 0.93%. The index is up by almost 1.94% in the past 5 days.
- US Indices futures are trading lower ahead of the unemployment claims data. Most indices closed lower yesterday and the NASDAQ index was the worst performer with a loss of 0.01%.
TOP News
- The German unemployment change data did not fall short of previous reading of 12K. The final number was at 2K.
- The Spanish Flash CPI data fell short of expectations with the reading of -0.5%. The forecast was -0.2% while the previous reading was at -0.3%.
- Rumors are running high that apple will announce wearable device on Sept 9.
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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.
- Volatility S&P 500: Volatility index increased nearly 1.02% yesterday.
News Agenda For Today
- 12:30 USD: Prelim GDP q/q
- 12:30 GMT USD: Unemployment Claims
- 14:00 GMT US: Pending Home Sales m/m
- 14:30 GMT USD: Natural Gas Storage
Trend
The AUD and NZD are trending up against the USD, while the DKK and CHF are trading lower against the USD on an intra-day basis.
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.