Daily Briefing
Currencies
- EUR/USD: The pair has broken its upward channel on a 30 minute time frame. The next resistance is at 1.108 and the support is at 1.071.
- USD/JPY: The pair is moving in a sideway pattern on a 30 minute time frame. The next support is at 118.38 and resistance at 120.37
- GBP/USD: The pair has broken its upward trend line on a 30 minute time frame. The resistance is near the 1.5134 and support is at 1.4720
Indicator
Indices
- Asian Markets closed mostly higher by building on gains on top of yesterday. The Nikkei 225index is the best performing index during the session and it closed higher with a gain of 1.25%. The index is up nearly by 2.02% in the past 5 days.
- European indices futures are trading higher during the early hours of trading. The CAC 40 index is the best performing index during the session and it is trading higher with a gain of 1.20%. The index is up by almost 0.84% in the past 5 days.
- US futures are also trading flat ahead of the JOLTS. Most indices closed higher during the last session and the Dow index was the best performer with a gain of 0.66%.
TOP News
- The Spanish services PMI came in at 57.3 while the forecast is for 56.5.
- The RBA left the interest rate unchanged.
- The Italian Services PMI data came in at 51.6 while the forecast was for 51.1, another strong reading.
Things to Remember
Stop loss is your biggest friend so make sure you use it
Market Sentiment
- Gold: The precious metal is in process of filling the gap on a 30 minute time frame. The next support is near the 1170 and the next resistance is near the 1230.
- Crude Oil: The black gold has completed its reverse head and shoulder pattern on a 30 minute time frame. The near term support is at the $45.78.0 mark and the resistance is at 51.70.
- VIX: Volatility index dropped nearly 2.91% on the last trading day.
News Agenda For Today
08:30 GMT
GBP – Services PMI
Trends
