Asia Finished In Negative Territory For The Week

• EUR/USD- the pair traded in a major resistance zone on a 4 hour time frame. The price traded above the 50 and 100 day moving averages.
• USD/JPY- the price has bounced from a major support on a 4 hour time frame. The RSI wasin extreme oversold territory which could push the pair back up.
• GBP/USD- the pair traded in a major resistance zone on a 4 hour time frame. The price could have seen a pause or change of trend ,as the pair has pierced the Bollinger Band® at this level.

• Asian Markets closed with deep losses on Friday. The Hang Seng index plunged by -1.18% and was the worst performing index during the Asian session.
• European stocks traded mixed during the early hours of trading. The DAX was the best performing index, and up by almost 0.14%.
• U.S. Indices bounced back Thursday by recovering some of the earlier losses. The S&P 500 was the best performer, closing with a gain of -0.88%

• Spanish and Italian bonds were under pressure Friday, as their yield jumped up after ECB president Mario Draghi said on Thursday that it is the responsibility of both governments to boost economic growth.
• The yen became further stronger against the dollar after the Japanese FM said he will not intervene to make the yen weaker.

• Never Move stops down in a losing position, this is a state of emotion which can destroy trading discipline

• Gold firmly above the $1400; the price action is still struggling for direction. hHowever, the technical showed that bias could be to the upside.
• Oil- The black gold bounced back up strongly from its support on a 30 minute time frame. However, investors will look closely to the non-farm payroll data before making any bigger bets.
• VIX- Volatility index dropped by -4.97% on Friday.

CAD – Employment Change
CAD – Unemployment Rate
USD – Non-Farm Employment Change
USD – Unemployment Rate

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