Currencies
08:00 GMT
- EUR/USD- the pair has formed a complex reverse Head & Shoulder pattern a 30 minute time frame. The RSI is showing that the bias could be towards the upside.
- USD/JPY- the price action bounced back from a support zone on a 30 minute time frame. This support level was given in our analysis on the 23rd of May. The RSI shows a positive outlook so bias could be to the upside
- GBP/USD- the price is becoming more bullish on a 30 minute time frame. The pair is trading above the 50 day and 100 day moving averages.
- Asian Markets closed mixed on the final day of the week. The Nikkei 225 was the best performer which closed with a gain of 0.88%
- European stocks are also trading higher on Friday. The FTSE MIB is leading the gains and it is up by almost 0.69%.
- US Indices closed with some mild losses yesterday. The S&P500 was the worst performer, which closed with a loss of -0.26%
- Haruhiko Kuroda, the governor of the Bank of Japan said that his desire is to make the nation’s debt more stable and the Central Bank will play its part by running flexibility in the market operations and strengthening the communication process with the market so that they can calm the volatility in bond yields
- German Chancellor Angela Merkel confirmed today that there must be coordination between the European countries’ economic policy
- The Chinese official was informed by the top North Korean envoy that his country does wants to return to table to smooth out any pending issues.
- Never Move stops down in a losing position, as such is a state of emotion which destroy trading discipline
- Gold is taking a breather today after earlier day’s gain. The yellow metal is below the $1400 mark and the price action remains strong towards the upside
- Oil- The black gold bounced back up from its support zone on a 4 hour time frame. This was provided in our daily video analysis.
- VIX- Volatility index increased by 1.81% yesterday.
08:00 GMT
EUR - German IFO Business Climate
12:30 GMT
USD – Core Durable Goods Orders m/m
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