Currencies
- EUR/USD: The pair is trading near the resistance zone (1.3661-1.3682) on a 60 minute time frame. The next support is at 1.3497 and the next resistance is at 1.3752.
- USD/JPY: The pair is trading below the downward trend line on a 60 minute time frame. The next support is at 101.51 and resistance at 102.84
- GBP/USD: The pair has completed its symmetrical triangle pattern towards the downside on a 60 minute time frame. The resistance is near the 1.7048 and the support is at 1.6938.
Indicators
Indices
- Asian Markets closed mostly higher by erasing some of their losses which were made yesterday. The Hang Seng index was the worst performing index during the session and it closed higher with a gain of 1.18%. The index is down nearly by 0.82% in the past 5 days.
- European stock markets are trading higher during the early hours of trading. The DAX 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 0.29% in the past 5 days.
- US Indices futures are trading higher ahead of the unemployment data. Most indices closed higher yesterday and the NASDAQ index was the worst performer with a gain of 0.68%.
TOP News
- London Stock exchange acquires Russell for 1.6 billion pounds
- Barclays (LONDON:BARC) is under pressure this morning and the shares are trading lower nearly by 5% after a lawsuit threat by AG.
- Chinese companies are going to dump the US made servers such as IBM and Oracle so that the home-grown companies can get a better chance to grow.
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Things to Remember
- Trade the trend for more profitable trades
Market Sentiment
- Gold: The precious metal is trading near the support of 1310 and a break of this will open the floor towards the 1300 mark. The near term resistance is at 1330
- Crude Oil: The black gold is very volatile on the back of the middle east tensions. The major support is near the 104 and resistance at 107.50.
- Volatility S&P 500: Volatility index dropped nearly 4.45% yesterday.
News Agenda For Today
12:30 GMT
USD– Unemployment Claims
14:30 GMT
USD– Natural Gas Storage
22:45 GMT
NZD – Trade Balance
Trend
The SEK and EUR are trending up against the USD, while the DKK and GBP 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