Daily Briefing- Asia Closed Mixed And Europe Recovering Its Losses
AvaTrade | Jun 21, 2013 07:17AM ET
- EUR/USD- the pair broke its support zone on a 30 minute time frame. The RSI shows that the bias is towards the upside.
- USD/JPY- the pair fell from its resistance on a 30 minute time frame. This resistance level was given in our analysis yesterday. The RSI shows bias could be to the upside.
- GBP/USD- the pair is trading above the 50 day but below the 100 day moving average which means bears are losing their control. The RSI shows that the bias could be to the upside
Indices
- Asian Markets closed mixed on the last day of trading. The Nikkei 225 index gained nearly 1.66% and was the best performing index during the Asian session.
- European stocks are also recovering some of their losses during the early hours of trading. The CAC 40 is best performing index and it is up by almost 0.73%.
- US Indices closed with heavy losses last night. The S&P 500 was the worst performer, which closed with a loss of -2.51%
- Hao Hong who is the chief China strategist at Bank of Communication Co. confirmed that people bank of China has pumped nearly 50 billion Yuan due to an increasing money market rate to a record high.
- Bank of China also denied today that the bank has faced a capital default, Bloomberg reported.
- EU finance minister rejected the Greece’s request to restructure their terms for their bailout payment and they have in fact made the conditions tighter.
- Warren Buffet said the first rule of investing is do not lose money and second rule is do not forget the first rule.
- Gold tumbled yesterday and broke its major support zone of 1320, however, the price has bounced from its next support zone of 1260-1270
- Oil- The black gold also fell sharply as commodity sell off occupied the stage and the price found its support nearly 94.63 support zone which was given in our video analysis on 19thJune.
- VIX- Volatility index increased by 23.14% on Tuesday.
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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.
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