Currencies
- EUR/USD: The pair is trading well below its downward trend line on a 60 minute time frame. The next resistance is at 1.132 and the support is at 1.09.
- USD/JPY: The pair is trading babe tis upward trend line on a 60 minute time frame. The next resistance is at 123.31 and the support is at 118.58.
- GBP/USD: The pair has formed a descending triangle pattern on a 60 minute time frame. The resistance is near the 1.5505 and the next support is at 1.52.
Indicators
Indices
- Asian Markets closed lower by adding to losses onto of yesterday. The Hang Seng index was the worst performing index with a loss of 0.59% and over the last 5 days it is down by 0.74%.
- European futures are trading lower during the early hours of trading. The FTSE MIB index is the worst performing index during the session and it is trading lower by 0.60%. The index is up nearly 3.60% nearly during the past five days.
- US futures are trading lower ahead of the GDP q/q. The NASDAQ index was the best performer during the last session and it closed higher by 1.31%.
TOP News
- The Australian import prices q/q data came in at 1.4% while the forecast was for 1.6%.
- The Spanish Flash CPI y/y was worse once again with the reading of -0.7% while the forecast was for -0.6%.
Things to Remember
Use your stops and manage the risk
Market Sentiment
- Crude Oil: The black gold is trading below the downward trend line on a 60 minute time frame. The next support is at 40.06 and the resistance is at 48.41.
- Gold: The precious metal is trading below its 100 and 50 day moving average on a 60 minute time frame. The next support is at 1151 and the resistance is at 1184.
- The VIX index popped nearly 7.13% during the last session.
Top Economic data
12:30 GMT
USD – Advance GDP q/q
12:30 GMT
USD – Unemployment Claims
14:30 GMT
USD – Natural Gas Storage
Trends
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