Currencies
- EUR/USD: The pair has broken its downward trend line with a major move towards the upside on a 30 minute time frame. The next support is at 1.22 and the next resistance is at 1.2530.
- USD/JPY: The pair is trading above its upward trend line on a 30 minute time frame. The next support is at 117 and resistance at 120.0
- GBP/USD: The pair has formed reverse head and shoulder pattern on a 30 minute time frame. The resistance is near the 1.5816 and the support is at 1.5582
Indices
- Asian Markets closed sharply lower by erasing their profit from yesterday. The Hang Seng index was the worst performing index during the session and it closed lower with a loss of 5.1%. The index is up nearly by 11.69% in the past 5 days.
- European stock markets are trading lower during the early hours of trading. The IBEX 35 is the worst performing index during the session and it is trading lower with a loss of 0.32%. The index is down by almost 1.00%% in the past 5 days.
- US Indices futures are trading lower ahead of economic data. Most indices closed lower yesterday and the S&P 500 index was the wort performer with a loss of 0.11%.
TOP News
- The Japanese current account data came in at 0.95T while the forecast was at 0.46T.
- The Chinese trade balance was much better than the forecast of 44.3B. The final number was at 54.5B.
Things to Remember
Stops are your biggest friends so make sure use them.
Market Sentiment
- Gold: The precious metal is consolidating mostly on a 30 minute time frame. The support of 1180 for the uptrend to continue. The next resistance is near the 1240.
- Crude Oil: The black gold is selling sharp once again this morning on a 30 minute time frame. The near term support is at the $60 mark while the resistance is at 70.
- VIX: Volatility index junpped nearly 20% yesterday.
News Agenda For Today
10:30 GMT GBP Manufacturing production
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.