Asia Up On BOJ Decision, Europe Cautious Ahead Of Bernanke Comments
AvaTrade | May 22, 2013 05:21AM ET
- EUR/USD- the pair has broken the symmetrical triangle on a 30 minute time frame. The price is trading within the resistance zone, but momentum looks strong.
- USD/JPY- the price action is moving in a sideways pattern on a 30 minute time frame. The RSI shows bias could be towards the upside.
- GBP/USD- the price has broken the symmetrical triangle frame to the downside on a 30 minute time frame. The RSI suggests bias could be towards the upside.
- Asian Markets were lifted up by Japanese index, but closed mixed at the end of the day. The Nikkei 225 was the best performer which closed with a gain of 1.60%
- European stocks are also trading mixed at the open today. The CAC 40 is leading the losses and is down by almost -0.23%.
- U.S. Indices maintained the Tuesday winning streak on Wall Street. The Dow Jones was the best performer, closin with a gain of 0.34%
- Two officials from the Federal Reserve confirmed last night that the central bank is not close to taper its asset purchase program.
- The Bank of Japan raised its economic outlook after their two-day meeting on Wednesday, however, the bank kept its policy unchanged.
- Stops are your biggest friends, so embrace them.
- Gold gathered its momentum back after slipping to $1360 yesterday. The price action is pushing the yellow metal higher but caution is the word among traders, ahead of Bernanke's comments later today.
- Oil- The black gold has started breaking down from its resistance level on a 4 hour time frame.
- VIX- Volatility index increased by 2.69% yesterday.
08:30 GMT
GBP – Retail Sales m/m
12:30 GMT
CAD – Core Retail Sales m/m
14:00 GMT
USD – Existing Home Sales
14:30 GMT
USD – Crude Oil Inventories
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by Naeem Aslam
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