Currencies
Indices
- EUR/USD- the pair is consolidating in a resistance zone on a 30 minute time frame. The RSI is showing that bias could be to the downside.
- USD/JPY- the pair has formed a double top on a 30 minute time frame. The RSI shows that the bias is to the upside.
- GBP/USD- The pair has fallen from its resistance on a 30 minute time frame. The price is trading above the 50 day and the 100 day moving average which shows that the bulls are in control.
Indices
- Asian Markets closed mostly up on the first trading day of the week. The Shanghai index soared nearly 1.61% and was the best performing index during the Asian session. The index is up nearly 4.84% in the past five days.
- European stocks are trading mix during the early hours of the trading session. The FTSE MIB index is the worst performing index and it is down by almost 0.46%. The index is up nearly 4.82% in the past five days.
- US Indices futures are trading higher as we had an another record close for the S&P 500 yesterday. The S&P500 was the best performer yesterday and closed with a gain of 0.67%
- Ben Broadbent, the Bank Of England’s policy maker confirmed today that the Bank will only consider to update its interest rate once they are sure that the economic recovery is secure
- According to the Right move, the house prices in the U have increased at an unsustainable rate in October.
- The economic data released in Japan showed that the export growth has slowed down for the country during the month of September.
- Do not let our emotions take over your trading
- Gold The precious metal is struggling to break the resistance of $1321 level and as long as the price fails to break this level, the bias still could be to the downside.
- Crude Oil- The black gold has broken the $100 level as we predicted last week and we are looking at the 97-98 support zone which could be a potential turning point.
- VIX- Volatility index dropped by -3.26%.
14:00GMT
USD– Existing Home Sales
14:30GMT
USD– Crude Oil Inventories
Trend
The SEK and GBP are trending up against the dollar while the EUR, AUD and NZD are trading lower against the dollar on an intra day basis. 
by Naeem Aslam