Currencies
- EUR/USD: This pair is trading in a downward wedge pattern on a 4 hour time frame. The next support is near the 1.0517 level and the resistance is 1.0944.
- USD/JPY: The pair is trading below the downward trend line on a 4 hour time frame. The near term support is at 116.31 and the resistance is at 120.46.
- GBP/USD: The pair is trading in a support zone of 1.4524-1.4505 on a 4 hour time frame. The next resistance is near 1.04849 and the support is 1.4345.
Indicators
Indices
- Asian markets closed lower by adding losses on top of yesterday. The Nikkei index was the worst performer during the session and it closed lower with a loss of -1.11%. The index is down by 9.53% during the past 5 sessions.
- European markets are trading lower during the early hours of trading. The FTSE MIB index is trading lower with a loss of 2.71%. The index is down by nearly 3.58% over the past five sessions.
- The US futures are trading lower but volume will remain thin due to a public holiday. The S&P500 index was the worst performer on the last trading day with a loss of 2.75%.
Top News
- The Australian inflation gauge m/m data came in at 0.2% while the previous reading was at -0.1%.
- The UK’s right move HPI m/m data came in at 0.5% while the forecast was for -1.1%.
- The Australian new motor vehicle sales data was below the forecast of 1.3% with the reading of -0.5%.
Market Sentiment
- Crude Oil: The black gold is trading well below the 50 and 100 day moving average on a 30 minute time frame. The next support is near the 28 and the resistance is 31.50.
- Gold: The precious metal is trading above its upward trend line on a 30 minute time frame. The next resistance is at 1110 and the support is at 1088.
- The VIX index incremented by 12.82% during the last session.
Top Economic data
No News
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