Daily Briefing
Currencies
- EUR/USD: The pair fell from our identifed resistance of 1.1717-1.1785 (which was given on 25th) on a 4 hour time frame. The next resistance is at 1.1557 and the support is at 1.1236.
- USD/JPY: The pair has pierced the Bollinger band on a 4 hour time frame. The next support is at 115.82 and resistance at 120.41
- GBP/USD: The pair has pierced the Bollinger band on a 4 hour time frame. The resistance is near the 1.5734 and support is at 1.5331
Indicators
Indices
- Asian Markets closed sharply higher by erasing their losses from yesterday. The Shanghai index is the best performing index during the session and it is closed higher with a gain of 1.73%. The index is down nearly by 5.72% 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 .50%. The index is up by almost 3.06% in the past 5 days.
- US futures are trading higher ahead of the unemployment data. Most indices closed higher during the last session and the NASDAQ index was the best performer with a gain of 4.25%.
TOP News
- The Dow and S&P500 posted the largest gain yesterday since 2011
- The Australian private capital expenditure came in at -4% while the forecast for -2.5%
Things to Remember
Use your stops and manage the risk
Market Sentiment
- Gold: The precious metal is trading below its downward trend line on a 4 hour time frame. The next support is near the 1110 and the next resistance is near the 1140.
- Crude Oil: The black gold is trading below its 20 day moving average on a 4 hour time frame. The near term support is at the $35 mark and the resistance is at 43.
- VIX: Volatility index dropped nearly 15.82% on the last trading day.
Top Economic data
12:30 GMT
USD -Prelim GDP q/q / Unemployment Claims
All Day
Jackson Hole Symposium
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