Currencies
- EUR/USD: The pair is under selling pressure and consolidating near the support zone on a 60 minute frame. The next support is at 1.347 and the next resistance is at 1.3647.
- USD/JPY: The pair is trading in an upward channel on a 60 minute time frame. The next support is at 101.7 and resistance at 102.4
- GBP/USD: The pair is trading below the downward trend line on a 60 minute time frame.. The resistance is near the 1.6887 and the support is at 1.676.
Indicators
Indices
- Asian Markets closed mostly lower today by erasing some of their gains which were made yesterday. The Hang Seng Index was the best performing index during the session and it closed higher with a gain of 0.54%. The index is up nearly by 0.29% in the past 5 days.
- European stock markets are trading slightly higher during the early hours of trading. The FTSE MIB Index is the worst performing index during the session and it is trading lower with a loss of 0.27%.
- US index futures are trading higher ahead of US Core Retail Sales today. Most indices closed higher yesterday and the DJ30 was the best performer today with a gain of 0.8%.
TOP News
- Asian shares fell today due to increasingly violent activity in Iraq. The Nikkei dropped -0.64%
- Crude Oil prices are trading at a year high. Currently trading at 105.30
- AUD Employment Changed from 10.3K to -4.8K.
Things to Remember
- Stops are your biggest friends so make sure use them.
Market Sentiment
- Gold: The precious metal is trading in an upward trend on a 4 hour time frame. The next support is near the 1235 level and the resistance is at 1276.
- Crude Oil: The black gold trading very bullish this morning reaching a year high of 105.35. The next resistance is at 106.4 and the support is at 103.65
- VIX: Volatility index gained nearly 5.55% yesterday.
News Agenda For Today
12:30 GMT
USD – Core Retail Sales m/m
12:30 GMT
USD – Retail Sales m/m
12:30 GMT
USD – Unemployment Claims
14:30 GMT
USD – Natural Gas Storage
Disclosure: 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.