Currencies
Indices
08:30 GMT
GBP – Retail Sales m/m
12:30 GMT
USD – Unemployment Claims
USD- Bernanke Testimony
14:00 GMT
USD – Philly Fed Manufacturing Index
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
- EUR/USD- the pair has broken its upward trend line on a 30 minute time frame. The price is trading below the 50 day and 100 day moving averages which means that the bulls have lost their control. However, the RSI is confirming that the bias could be to the upside for the pair.
- USD/JPY- the pair has bounced from its upward trend line on a 30 minute time frame. The RSI shows bias could be to the upside.
- GBP/USD- the pair fell from its resistance zone on a 30 minute time frame as predicted. The price is finding its support near the 100 day moving averages and the RSI shows that the bias could be to the upside.
Indices
- Asian Markets closed mixed yesterday on the back of Ben Bernanke’s comment. The Shanghai index lost nearly -1.07% 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 0.49%.
- US Indices closed up by recovering their losses. The Nasdaq was the worst performer yesterday and closed with a gain of 0.32%
- Bernanke confirmed yesterday that Fed’s policy is not preset course and it completely depends on incoming economic data
- MF has also raised their concern today that the second biggest economy of the world may no longer be able to maintain a growth of 7.5% given its monetary policy is weak.
- The borrowing cost for Portuguese government is hitting at its highest level since October. This happened when the country did their 12 month bond auction
- Stops are your biggest friends so embrace them
- Gold fell from its resistance of $1300 as predicted in our analysis yesterday and it is trading near the support zone of 1260-1270.
- Oil- The black gold has moved above the 50 day and 100 day moving averages on a 30 minute time frame. However, the resistance at 107-107.50 still remains strong
- VIX- Volatility index dropped by -3.45%.
08:30 GMT
GBP – Retail Sales m/m
12:30 GMT
USD – Unemployment Claims
USD- Bernanke Testimony
14:00 GMT
USD – Philly Fed Manufacturing Index
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