Currencies
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EUR/USD: The pair is trading below its 50 day moving average (1.1291) on a 4 hour time frame. The next support is near the 1.1058 level and the resistance is at 1.1377.
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USD/JPY: The pair is retracing back to its 20 day moving averages (110.60) on a 4 hour time frame. The near term support is at 107.63 and the resistance is at 113.82
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GBP/USD: The pair is trading above its 50 (1.4315) and 100 (1.4243) day moving averages on a 4 hour time frame. The next resistance is at 1.4517 and the support is 1.4007.
Indicators
Indices
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Asian markets closed mostly 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 0.49%.
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European futures are trading higher during the early hours of trading. The FTSE MIB index is trading higher with a gain of 1.52%.
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The US markets are trading higher ahead of the core durable goods order data. The Dow index was the best performer on the last trading day with a loss of 0.18%.
Top News
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BP (LON:BP) is surging 3.5% after beating on underlying earnings.
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Saudi Armco valued at up to 2.5 trillion, according to Prince Mohammed Bin Salman.
Market Sentiment
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Crude Oil: The black gold is trading above the 50 day (42.29) moving averages on a 4 hour time frame. The next support is near the 40.87 and the resistance is 45.91.
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Gold: The precious metal is consolidating in a side way pattern on a 4 hour time frame. The next resistance is at 1260 and the support is at 1210.
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The VIX index popped by 6.51% during the last session.
Top Economic data
09:00 GMT 15:00 GMT
EUR – German Ifo business Climate USD –New Homes Sales
Trends
by Naeem Aslam