Daily Briefing
Currencies
- EUR/USD: The pair is trading below its downward trend line on a 30 minute time frame. The next support is at 1.21 and the next resistance is at 1.2570.
- USD/JPY: The pair is trading above its upward trend line on a 30 minute time frame. The next support is at 116 and resistance at 121.
- GBP/USD: The pair is trading in a downward trend on a 30 minute time frame. The resistance is near the 1.5562 and the support is at 1.54
Indices
- Asian Markets closed higher on the final trading day of the week. The NikkeiIndex was the best performing index during the session and it closed higher with a gain of 1.24%. The index is up nearly by 2.78% in the past 5 days.
- European stock markets are trading higher during the early hours of trading. The CAC 40Index is the best performing index during the session and it is trading higher with a gain of 0.30%. The index is up by almost 5.42% in the past 5 days.
- US Indices futures are trading higher after another blockbuster day. Most indices closed higher during the last session and the S&P 500Index was the best performer with a gain of 0.36%.
TOP News
- Dow Jones have made another record high yesterday and have closed above the 18K level for the first time.
- Markets will close early today due to the Christmas Holidays, so make sure you check our website to confirm the timing.
Things to Remember
Manage your stops, not the expectations
Market Sentiment
- Gold: The precious metal has broken its support of 1180 on a 30 minute time frame. The next support is near the 1160 and the next resistance is near the 1200.
- Crude Oil: The black gold is consolidating and moving in a sideway pattern on a 30 minute time frame. The near term support is at the $54.0 mark and the resistance is at 59.39.
- VIX: Volatility index dropped nearly 2.95% on the last trading day.
News Agenda For Today
13:30 GMT
USD – Unemployment Claims
15:30 GMT
USD – Crude Oil Inventories
17:00 GMT
USD – Natural GasStorage
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