Daily Briefing
Currencies
- EUR/USD: The pair is trading near the support zone (1.0732-1.0711) 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 121.18
- GBP/USD: The pair has pierced the Bollinger® band on a 30 minute time frame. The resistance is near the 1.5077 and support is at 1.4745
Indicator
Indices
- Asian Markets closed mostly higher by building on gains on top of yesterday. The Hang Seng index is the best performing index during the session and it closed higher with a gain of 2.57%. 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 0.45%. The index is up by almost 0.84% in the past 5 days.
- US futures are also trading higher ahead of the unemployment claims data. Most indices closed higher during the last session and the NASDAQ Composite index was the best performer with a gain of 0.83%.
TOP News
- The German trade balance came in at 19.7B while the forecast was 20.3B.
- The UK Halifax HPI came in at 0.4% while the previous reading was at -0.4%
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 is trading above its upward trend line on a 30 minute time frame. The near term support is at the $50.0 mark and the resistance is at 54.
- VIX: Volatility index dropped nearly -5.41% on the last trading day.
News Agenda For Today
11:00 GMT
GBP – Official Bank Rate
12:30 GMT
USD – Unemployment Claims
CAD – Building Permits m/m
14:30 GMT
USD – Natural Gas Storage
Trends
