Currencies
- EUR/USD: The pair entered in a resistance of 1.479-1.1535 on a 4 hour time frame. The next resistance is at 1.1880 and the support is at 1.1066.
- USD/JPY: The pair has pierced the Bollinger band on a 4 hour time frame. The next support is at 119.15 and resistance at 123.60.
- GBP/USD: The pair is trading in an upward wedge pattern on a 4 hour time frame. The resistance is near the 1.5780 and support is at 1.5368
Indicators
Indices
- Asian Markets closed sharply lower by adding to thier losses on top of last week. The Shanghai index is the worst performing index during the session and it is closed lower with a loss of 8.49%. The index is down nearly by 5.72% in the past 5 days.
- European futures 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 2.71%. The index is up by almost 3.06% in the past 5 days.
- US futures are trading lower ahead of the FOMC member Lockhart speech. Most indices closed lower during the last session and the NASDAQ index was the worst performer with a loss of 3.52%.
TOP News
- The Chinese Caixin flash manufacturing PMI data came in at 47.1 while the forecast was for 48.1.
- The French flash manufacturing PMI came in at 48.6 while the forecast was for 49.8%.
- The German flash manufacturing PMI came in at 53.2 while the forecast was for 51.7%.
Things to Remember
Use your stops and manage the risk
Market Sentiment
- Gold: The precious metal is trading above its upward trend line on a 4 hour time frame. The next support is near the 1110 and the next resistance is near the 1170.
- Crude Oil: The black gold has broken its 40 dollar level on a 30 minute time frame. The near term support is at the $38 mark and the resistance is at 43.
- VIX: Volatility index increased nearly 46.45% on the last trading day.
Top Economic data
No News
Trends
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