Currencies
Indices
08.30 GMT
GBP – Manufacturing Production 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
- EUR/USD- the pair is still below its downward trend line on a 30 minute time frame. The RSI shows is in an overbought territory which means downward trend may continue.
- USD/JPY- the pair is respecting its upward trend line on a 30 minute time frame. The RSI shows bias could be to the downside.
- GBP/USD- the pair is trading in an upward channel on a 30 minute time frame. The price is trading above the 50day and 100 day moving average which represents that the bull are in control.
Indices
- Asian Markets closed sharply up today by recovering some of their losses from yesterday. The Nikkei index gained nearly 2.58% and was the best performing index during the Asian session.
- European stocks are trading higher during the early hours of trading today. The IBEX is the best performing index and it is up by almost 1.02%.
- US Indices also closed higher yesterday ahead of earning season which was kicked off by Alcoa’s earning after the market close. The Dow was best performer yesterday and closed with a gain of 0.59%
- The economic data released in china showed that the consumer prices are increasing more than the expectations.
- The officials from European union said in their meeting that the Japanese government has a duty to elaborate on their plans that how they are going to tackle the external deflation and what tools they will use to control this deflation.
- Military officials in Egypt announced that the country will have a new election in 7 months.
- Losing is the part of the game that is why you need to have rigid risk management policies in your trading plan.
- Gold is still maintaining its support of 1180-1150 and trying to take its resistance at 1316 level.
- Oil- The black gold is trading in a bullish trend and the bias could be to the upside.
- VIX- Volatility index dropped by -4.46%.
08.30 GMT
GBP – Manufacturing Production 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