Currencies
Indices
08:30 GMT
GBP – Current Account
12:30 GMT
USD – Unemployment
14:00 GMT
USD – Pending Home Sales m/m
14:30 GMT
USD – Natural Gas Storage
Trend
DISCLOSURE & DISCLAIMER:
- EUR/USD- the pair has violated its support zone but it has also broken out of its downward channel on a 30 minute time frame. The RSI shows that the bias is towards the upside.
- USD/JPY- the pair is moving in a sideway pattern on a 30 minute time frame. The RSI shows bias could be to the downside.
- GBP/USD- the pair is trading in its support zone on a 30 minute time frame. The price is trading below the 50day and 100 day moving average which represents a full control by the bears.
Indices
- Asian Markets closed strongly up on Thursday by recovering some of their losses. The Nikkei index gained nearly 2.96% 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 35 is the best performing index and it is up by almost 2.41%.
- US Indices closed with strong gains yesterday. The Dow index was the best performer, which closed with a gain of 1.01%
- The risk for sovereign bonds among the AAA nations has increased to its highest level for Australia
- EU officials have announced today that they have finally agreed to a system which will tackle the failing banks.
- Narayana Kocherlakota, Fed President confirmed that the country may not be able to reach the unemployment below the 7% until the second half of next year, Bloomberg reported
- Risk management is the life blood of trading
- Gold has broken its support zone of 1245-1233 on a daily time frame. Next support could be towards the 1150-1180 level
- Oil- The black is entering in a resistance zone gain on a 4 hour time frame and the bias could be to the upside if it breaks this resistance zone.
- VIX- Volatility index dropped by -6.82% on Thursday.
08:30 GMT
GBP – Current Account
12:30 GMT
USD – Unemployment
14:00 GMT
USD – Pending Home Sales m/m
14:30 GMT
USD – Natural Gas Storage
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