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European Futures Lower Ahead Of US Data

ByAvaTrade
AuthorAvaTrade
Published 04/15/2016, 02:08 AM
Updated 02/02/2022, 05:40 AM

Currencies

  • EUR/USD: The pair is trading below its downward trend line on a 4 hour time frame. The next support is near the 1.1141 level and the resistance is at 1.1495.

  • USD/JPY: The pair has broken is 20 day moving average (109.01) towards the upside on a 4 hour time frame. The near term support is at 106 and the resistance is at 110.74.

  • GBP/USD: The pair is trading in a downward channel on a 4 hour time frame. The next resistance is at 1.4845 and the support is 1.4220.

Indicators

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Indices

  • Asian markets trading mostly lower on the final trading day of the week. The Nikkei index was the worst performer during the session and it closed lower with a loss of 0.44%.

  • European futures are trading lower during the early hours of trading. The DAX index is trading higher with a loss of 0.03%.

  • The US futures are trading lower ahead of the consumer sentiment data. The DOW index was the best performer on the last trading day with a gain of 0.10%.

Top News

  • The Chinese GDP q/y data came in at 6.7% while the previous reading was at 6.8%.

  • The Chinese industrial production y/y data came in at 6.8% in contrast to the previous reading of 5.4%.

Market Sentiment

  • Crude Oil: The black gold is trading above the 100 day (38.88) but below the 50 day (39.99) moving averages on a 4 hour time frame. The next support is near the 39.25 and the resistance is 43.02.

  • Gold: The precious metal has broken its 100 day moving average (1232.61) towards the upside on a 4 hour time frame. The next resistance is at 1260 and the support is at 1208.

  • The VIX index dropped by 0.87% during the last session.

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Top Economic data

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by Naeem Aslam

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