Daily Briefing
Currencies
- EUR/USD: The pair has moved above its 50 day moving average on a 30 minute time frame. The next resistance is at 1.15 and the support is at 1.10.
- USD/JPY: The pair is moving in a side way pattern on a 30 minute time frame. The next support is at 117.23 and resistance at 118.83.
- GBP/USD: The pair is trading below its downward trend line on a 30 minute time frame. The resistance is near the 1.5747and support is at 1.4793.
Indices
- Asian Markets closed mostly lower on the first trading day of the week. The Nikkei index is the worst performing index during the session and it closed lower with a loss of 0.24%. The index is down nearly by 5.16% in the past 5 days.
- European stock futures are trading lower during the early hours of trading. The FTSE MIB index is the worst performing index during the session and it is trading lower with a loss of 1.25%. The index is up by almost 6.39% in the past 5 days.
- US Indices futures are trading lower after the results of Greek elections. Most indices closed lower during the last session and the S&P 500 index was the worst performer with a loss of 0.54%.
TOP News
- Greece’s Syriza party has won the election and this is maintaining the pressure on their equity market.
- Greece 10 year borrowing cost has added further premium to it as investors are not sure how the country will make a deal with Torika
- Chinese Yuan has fallen to seven month low
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Things to Remember
Manage your stops not the expectations.
Market Sentiment
- Gold: The precious metal is pulling back from its highs and it is trading below its 1300 level on a 30 minute time frame. The price is trading above its upward trend line. The next support is near the 1272 and the next resistance is near the 1330.
- Crude Oil: The black gold is trading in a weekly support zone on a weekly time frame but still treading below the 50 day moving average on a 30 minute time frame. The near term support is at the $43.0 mark and the resistance is at 50.
- VIX: Volatility index increased nearly 1.59% on the last trading day.
News Agenda For Today
09:00 GMT
EUR – German Ifo Business Climate
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.