Currencies
- EUR/USD: The pair is fell from OUR Identified resistance zone (given on 9th Feb) on a 4 hour time frame. The next support is near the 1.0883 level and the resistance is 1.1387.
- 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 below its downward trend line 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 lower by adding to their losses on top of yesterday. The NIkkei index was the worst performer during the session and it closed lower with a loss of 4.84%. 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 2.11%. The index is down by nearly 3.58% over the past five sessions.
- The US futures are trading higher ahead of the consumer sentiment data. The Dow index was the worst performer on the last trading day with a loss of 1.60%.
Top News5
- The Australian Home loans m/m data came in at 2.9% while the forecast was for 2.9%.
- The German Prelm GDP q/q at 0.3% while the previous reading was at 0.3%.
Market Sentiment
- Crude Oil: The black gold is trading below its downward trend line on a 60 minute time frame. The next support is near the 25 and the resistance is 29.63.
- Gold: The precious metal is trading above its upward trend line on a 4 hour time frame. The next resistance is at 1255 and the support is at 1212.
- The VIX index popped by 7.04% during the last session.
Top Economic data
13:30 GMT
USD – Core Retail Sales m/m
13:30 GMT
USD – Retail Sales m/m
15:00 GMT
USD – Prelim UoM Consumer Sentiment
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