Currencies
Indices
14:00 GMT
USD– Existing Home Sales
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 trading above the 50 day and 100 day moving averages on a 30 minute time frame which means that the bulls are still in control. The RSI is confirming is confirming the above argument.
- USD/JPY- the pair fell from its resistance on a 30 minute time frame as predicted. This resistance zone was given in our analysis Thursday. The RSI shows bias could be to the upside.
- GBP/USD- the pair is trading in a resistance zone on a 30 minute time frame. The price is trading above the 50 day and 100 day moving averages which confirm the upward trend is still in play.
Indices
- Asian Markets closed mixed but mostly up on the first trading day of the week. The Shanghai index gained nearly 0.52% and was the best performing index during the Asian session.
- European stocks are trading lower during the early hours of trading today. The IBEX is the worst performing index and it is down by almost -0.47%.
- US Indices closed once gain in another record territory on Friday. The S&P 500 was the best performer yesterday and closed with a gain of 0.16%
- The Japanese Prime Minister had another victory under his belt in an election which took place over the weekend and he holds a majority vote in the upper house.
- The People Bank of China has removed the floor for the lower limit on lending rates.
- The officials from the G20 who were meeting in Moscow over the weekend announced they will carefully monitor the unwinding activities by the US and Japan so that there is no harm done to the markets in the absence of their support.
- Do not let your emotions to take over your trading decision, as such will lead you in a disaster situation.
- Gold has finally taken its resistance level of $1300 which we have mentioned throughout last week. The bias could still be to the upside with next resistance near the $1340-1350 level.
- Oil- The black gold also fell from its resistance of $109-110 and the bias could still be towards the downside for further correction.
- VIX- Volatility index dropped by -2.18%.
14:00 GMT
USD– Existing Home Sales
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