Currencies
Indices
- EUR/USD- the pair is moving in a side way pattern on a 30 minute time frame. The RSI is not giving any clear either.
- USD/JPY- the pair has broken its upward trend line on a 30 minute time frame. The RSI shows that the bias could be to the upside.
- GBP/USD- The pair has broken its symmetrical triangle to the upside on a 30 minute time frame. The price is trading above the 50 day and above the 100 day moving average which confirm the bulls are in control.
Indices
- Asian Markets closed up lower erasing some of their gains made last week. The Hang Seng index soared nearly 0.56% and was the worst performing index during the Asian session. The index is down nearly 1.82% in the past five days.
- European stocks are also trading mix during the early hours of trading today. The FTSE MIB index is the best performing index and it is up by almost 0.31%. The index is up nearly 2.68% in the past five days.
- US Indices closed lower yesterday on the back of the US debt ceiling’s concern. The Dow was the worst performer and closed with a loss of 1.19%
- The economic data released in China showed that the country’s manufacturing index soared to its six months high during the month of September
- Angela Merkel’s party wins the German election
- The rating agency Moody, has upgraded Ireland’s credit rating from negative to stable
- The French Flash Manufacturing PMI came in at 49.5 while the expectations were 50.7
- Trust your strategy not your emotions
- Gold has fallen from its resistance of $1375 and it has completed the gap which was created last week. As long as it says above the $1300 psychological level, the bias could be to the upside
- Oil- The black gold is still trading below the 100 day and 50 day moving averages on 4 hour time frame and the bias could still be to the downside unless it breaks above them.
- VIX- Volatility index gained by 1.91%.
07:00 GMT
EUR– French Flash Manufacturing PMI
07:30 GMT
EUR– German Flash Manufacturing PMI
13:00 GMT
EUR–ECB President Draghi Speaks
15:15 GMT
CHF– SNB Chairman Jordan Speaks
Trend
The DKK is trending up against the dollar while the EUR and JPY are trending down against the dollar on an intra day basis. 
by Naeem Aslam