Currencies
Indices
08:30 GMT
GBP Construction PMI
Trend
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
- EUR/USD- the pair is moving in a sideway pattern on a 30 minute time frame. The RSI shows that the bias is towards the upside.
- USD/JPY- the pair is trading within its resistance zone on a 30 minute time frame. The RSI shows bias could be to the downside.
- GBP/USD- the pair has bounced from its support zone on a 30 minute time frame as predicted. The price is trading above the 50day and 100 day moving average which represents that the bears are losing control.
Indices
- Asian Markets closed mixed yesterday but mostly up by building further gains. The Nikkei index gained nearly 1.78% and was the best performing index during the Asian session.
- European stocks are also trading up during the early hours of trading today. The IBEX is the best performing index and it is up by almost 1.74%.
- US Indices closed up yesterday and enjoyed another day of gain. The Nasdaq was the best performer, which closed with a gain of 0.90%
- The Chinese manufacturing data which was released yesterday was missing export orders, inventories of finished goods. There was no explanation for these holes, Bloomberg reported
- The Central Bank of Australia left the bench mark interest rate unchanged at 2.75%.
- The British commerce of chambers said that the new governor of the Bank of England must fully focus on policies which stimulate the lending.
- Stops are the cornerstone of the risk management
- Gold has bounced from its support zone 1150-1180 which was provided in our 29th of June. The next major resistance for precious metal could be at 1316.
- Oil- The black has broken the symmetrical triangle to the upside on a 4 hour time frame and the bias could be to the upside.
- VIX- Volatility index dropped by -2.91% on Thursday.
08:30 GMT
GBP Construction PMI
Trend
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