Daily Briefing
Currencies
- EUR/USD: The pair is trading above its upward trend line on a 30 minute time frame. The next resistance is at 1.108 and the support is at 1.071.
- USD/JPY: The pair is trading below its downward trend line on a 30 minute time frame. The next support is at 118.38 and resistance at 120.37
- GBP/USD: The pair is moving in a sideway pattern on a 30 minute time frame. The resistance is near the 1.5134 and support is at 1.4720
Indicator
Indices
- Asian Markets closed mostly higher on the first trading day of the week. The Hang Seng index is the best performing index during the session and it closed higher with a gain of 0.77%. The index is up nearly by 2.02% in the past 5 days.
- European indices futures are trading mixed during the early hours of trading. The CAC 40 index is the best performing index during the session and it is trading higher with a gain of 0.23%. The index is up by almost 0.84% in the past 5 days.
- US futures are also trading flat ahead of the ISM manufacturing data. Most indices closed lower during the last session and the Dow Jones 30 index was the worst performer with a loss of 0.44%.
TOP News
- The Spanish unemployment data came in at -60.2K whereas the forecast was for -18.3K.
Things to Remember
Stop loss is your biggest friend so make sure you use it
Market Sentiment
- Gold: The precious metal has spiked up on a 30 minute time frame. The next support is near the 1170 and the next resistance is near the 1230.
- 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 $45.78.0 mark and the resistance is at 51.70.
- VIX: Volatility index dropped nearly 2.91% on the last trading day.
News Agenda For Today
07:00 GMT
EUR – Spanish Unemployment Change
14:00 GMT
USD – ISM Non-Manufacturing PMI
14:00 GMT
CAD – Ivey PMI
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.