Currencies
- EUR/USD: The pair is treading below the 50day and 100 day moving average on a 60 minute time frame. The next support is at 1.3557 and the next resistance is at 1.3714.
- USD/JPY: The pair is trading below the downward trend line on a 60 minute time frame. The next support is at 100.996 and resistance at 102.23
- GBP/USD: The pair is trading below the upward trend line on a 60 minute time frame. The resistance is near the 1.718 and the support is at 1.7018.
Indices
- Asian Markets closed lower by building further losses on top of yesterday. The Nikkei 225 index was the worst performing index during the session and it closed lower with a loss of .34%. The index is down nearly by 0.06% in the past 5 days.
- European stock markets are trading higher during the early hours of trading. The FTSE MIB index is the best performing index during the session and it is trading higher with a gain of 0.13%. The index is down by almost 2.76% in the past 5 days.
- US Indices futures are trading higher ahead of the Federal budget balance data. The indices closed lower yesterday and the NASDAQ Composite index was the worst performer with a loss of 0.52%.
TOP News
- The German CPI data came in at 0.3% while the previous reading was also at 0.3%.
- The German WPI did not improved with the final reading of -0.1% while the forecast was for 0.2%.
- French account deficit has disappointed further this morning as the data showed more widening in the number.
3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or
remove ads
.
Things to Remember
- Stops are your biggest friends so make sure use them.
Market Sentiment
- Gold: The precious metal has broken its resistance of 1330-1340 zone on a 60 minute time frame.The next support is near the 1312 level and the resistance at 1370.
- Crude Oil: The black gold has bounced back up after touching its support zone of 101.50 -101 yesterday. The next support is at the 100 level and the resistance is at 104.
- VIX: Volatility index increased nearly by 8.07% yesterday.
News Agenda For Today
12:30 GMT
CAD – Employment Change
12:30 GMT
CAD – Unemployment Rate
Trend
The NZD and EUR are trending up against the USD, while the DKK and CHF are trading lower against the USD on an intra-day basis.
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