Asian Stock Closed Lower, European Markets Opened Lower
AvaTrade | Jun 19, 2013 07:30AM ET
- EUR/USD- the pair is trading in a resistance zone on a 30 minute time frame. The price is trying to find a support near its 50 day moving average, but if it breaks this average bias could be to the downside.
- USD/JPY- the pair continued to move in a side a pattern on a 30 minute time frame. The bias could be to the downside.
- GBP/USD- the pair is trading above the 50 day but below the 100 day moving average, which means bears could be losing their grip. The bias could be to the upside.
Indices
- Asian Markets closed mixed on Tuesday. The Nikkei index gained nearly 1.83% and was the worst performing index during the Asian session.
- European stocks are trading lower with some mild losses during the early hours of trading. The FTSE MIB is best performing index, and is up by almost 0.16%.
- U.S. Indices closed with strong gains on Monday. The DOW was the best performer, closing with a gain of 0.91%
- The Euro is the best performing currency this year, and has overtaken the Sweden’s Krona.
- The parliamentary commission for banking standards in the U.K. endorsed that senior employees may have to wait for at least 10 years before they see a cent of their bonuses
- The Swedish government announced today that it will reduce its stake in Nordea Bank to 7.8, which will help to reduce the public debt.
- Stops are your biggest friends, not your enemies.
- Gold the bias remains to the downside as the price is trading below the 100 and 50day moving averages on a 30 minute time frame.
- Oil- The black gold is flirting with its major resistance of 99.48-100.46 on a 30 minute time frame. The uptrend is still intact, however the resistance zone could stop this move.
- VIX- Volatility index increased by -1.47% on Tuesday.
News Agenda For Today
08:30GMT
GBP- MPC Meeting Minutes
14:30GMT
USD- Crude Oil Inventories
18:00 GMT
FOMC Economic Projections
18:30 GMT
FOMC Economic Statement
2245GMT
NZD- GDP q/q
Trend
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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.
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by Naeem Aslam
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