Daily Briefing
Currencies
- EUR/USD: The pair is trading above its downward trend line on a 30 minute time frame. The next resistance is at 1.1288 and the support is at 1.0883.
- USD/JPY: The pair is trading below its 50 and 100 day moving average on a 30 minute time frame. The next support is at 121.67 and resistance at 124.73.
- GBP/USD: The pair is trading below its downward trend line on a 30 minute time frame. The resistance is near the 1.6030 and support is at 1.5448
Indicators
Indices
- Asian Markets closed mostly lower on the first trading day of the week. The Hang Seng index is the worst performing index during the session and it closed lower with a loss of 3.01%. The index is down nearly by 2.30% in the past 5 days.
- European futures are trading lower during the early hours of trading. The FTSE MIB index is the worst performing index during the session and it is trading lower with a loss of 2.71%. The index is down by almost 3.55% in the past 5 days.
- US futures are trading lower ahead of the US ISM data. Most indices closed lower during the last session and the DOW index was the worst performer with a loss of 0.16%.
TOP News
- The Japanese leading indicators data matched the expectations with the reading of 106.2%.
- The German factory orders m/m came in at -0.2% and the forecast was for 0.0%.
Things to Remember
Use your stops and manage the risk
Market Sentiment
- Gold: The precious metal is trading below its downward trend line on a 30 minute time frame. The next support is near the 1150 and the next resistance is near the 1174.
- Crude Oil: The black gold is trading below its downward trend line on a 30 minute. The near term support is at the $50 mark and the resistance is at 57.
- VIX: Volatility index dropped nearly 11.74% on the last trading day.
Top Economic data
14:00 GMT
USD – ISM Non-Manufacturing PMI
14:00 GMT
CAD – Ivey PMI
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