Currencies
- EUR/USD: The pair is trading above its upward trend line on a 4 hour time frame. The next support is near the 1.1083 level and the resistance is 1.1487.
- USD/JPY: The pair is trading below its downward trend line on a 4 hour time frame. The near term support is at 109.60 and the resistance is at 115.83.
- GBP/USD: The pair is trading in an upward channel on a 4 hour time frame. The next resistance is near 1.4726 and the support is 1.4369.
Indicators
Indices
- Asian markets closed mostly higher by erasing some their losses from last week. The Nikkei index was the best performer during the session and it closed higher with a gain of 7.59%. The index is down by 9.53% during the past 5 sessions.
- European futures are trading higher during the early hours of trading. The FTSE MIB index is trading higher with a gain of 0.11%. The index is down by nearly 3.58% over the past five sessions.
- The US markets are closed for a bank holiday are trading higher ahead of the consumer sentiment data. The Dow index was the best performer on the last trading day with a gain of 1.96%.
Top News5
- Gold had its best week since 2011 and it could be in the spotlights again.
- The Chinese trade balance data came in at 406B while the previous reading was at 382B.
Market Sentiment
- Crude Oil: The black gold is trading below its downward trend line on a 4 hour time frame. The next support is near the 25 and the resistance is 31.46.
- Gold: The precious metal is trading above its upward trend line on a 4 hour time frame. The next resistance is at 1275 and the support is at 1212.
- The VIX index dropped by 9.74% during the last session.
Top Economic data
14:00 GMT
EUR – Draghi Speaks
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