Daily Briefing
Currencies
- EUR/USD: The pair is trading below its downward trend line on a 30 minute time frame. The next resistance is at 1.1035 and the support is at 1.0658.
- USD/JPY: The pair has formed a reverse head and shoulder pattern on a 30 minute time frame. The next support is at 119.78 and resistance at 125.85.
- GBP/USD: The pair is consolidating on a 30 minute time frame. The resistance is near the 1.6030 and support is at 1.5368
Indicators
Indices
- Asian Markets closed mostly higher by adding gains on top of yesterday. The Nikkei index is the best performing index during the session and it closed higher with a gain of 0.93%. The index is down nearly by 2.30% in the past 5 days.
- European futures are trading higher during the early hours of trading. The FTSE MIB index is the best performing index during the session and it is trading higher with a gain of 0.04%. The index is down by almost 3.55% in the past 5 days.
- US futures are trading higher as the commodity sell of remain under focus. Most indices closed higher during the last session and the NASDAQ index was the best performer with a gain of 0.17%.
TOP News
- The Chinese foreign direct investment data came in at 8.0% while the previous was at 10.1%.
- The Swiss trade balance did not fall short of expectations and came in at 3.58B while the forecast was 2.54B.
Things to Remember
Use your stops and manage the risk
Market Sentiment
- Gold: The precious metal is under tremendous pressure today on a 30 minute time frame. The next support is near the 1050 and the next resistance is near the 1150.
- Crude Oil: The black gold has formed a reverse head and shoulder pattern on a 30 minute time frame. The near term support is at the $48 mark and the resistance is at 57.
- VIX: Volatility index increased nearly 2.51%% on the last trading day.
Top Economic data
NO NEWS
Trends
