Currencies
- EUR/USD: The pair has bounced from its support of 1.090 on a 4 hour time frame. The next resistance is at 1.132 and the support is at 1.0859.
- USD/JPY: The pair is consolidating in a side way pattern on a 60 minute time frame. The next resistance is at 123.31 and the support is at 118.58.
- GBP/USD: The pair is trading above its upward trend line on a 4 hour time frame. The resistance is near the 1.5505 and the next support is at 1.52.
Indicators
Indices
- Asian Markets closed higher by erasing some of their losses from yesterday. The Hang Seng index was the best performing index with a gain of 1.41% and over the last 5 days it is down by 0.74%.
- European futures are trading higher during the early hours of trading. The FTSE100 index is the best performing index during the session and it is trading higher by 0.04%. The index is up nearly 3.60% nearly during the past five days.
- US futures are trading lower ahead of the total vehicle sales data. The NASDAQ index was the best performer during the last session and it closed higher by 1.45%.
TOP News
- The Royal Bank of Australia kept their rate unchanged.
- The NewZealand ANZ commodity prices m/m data came in at 6.9% while the previous reading was at 5.5%.
Things to Remember
Do not let your emotions dictate your stops.
Market Sentiment
- Crude Oil: The black gold has broken its downward trend line towards the upside on a 4 hour time frame. The next support is at 40.06 and the resistance is at 48.41.
- Gold: The precious metal is trading below its 100 and 50 day moving average on a 4 hour time frame. The next support is at 1120 and the resistance is at 1162.
- The VIX index dropped nearly 6.10% during the last session.
Top Economic data
10:30 GMT
GBP – Construction PMI
10:45 PM GMT
NZD – Employment Change q/q | Unemployment Rate
Trends
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