Indices: Hang Seng Continues To Trade Down
AvaTrade | Nov 20, 2014 04:44AM ET
Currencies
- EUR/GBP: The pair is trading within its resistance (0.7975-0.8040) on a 30 minute time frame. The next resistance is at 0.8075 and the support is near the 07975.
- USD/JPY: The pair is now trading at 118.63/118.67,nearing closer to its resistance level. The support level is currently at 117.4 and resistance at 119.00.
- GBP/USD: The pair broke its resistance level (1.562-1.5695) on a 30 minute time frame. The next resistance level is near the 1.5735
Indices
- Asian Markets started the day with mixed reviews. The Nikkei index have declined nearly -0.744% and Hang Seng was the one of the worst performing index during the Asian session. The index continues to trade down in the past 2 days -0.043%.
- European stocks also opened up on a downward trend. The FTSE 100 index was the best performing index after continuous upward trend in the past two consecutive days. CAC 40 down -0.234% from very small gains yesterday.
- US Indices futures are trading flat after market. The US index’s are trading within their support level.
TOP News
- Following the release of the FOMC minutes yesterday, traders are still betting on a first Fed rate hike by September next year.
- Crude and Brent Oil Jan’15 futures are trading at 5 years lows as the energy sector continue to weaken this week.
Things to Remember
- Position sizing and bankroll management are key factors to successful trading.
Market Sentiment
- Gold: The precious metal is still hovering around its support levels. Over the past few days, it has tested a key resistance level of 1175 twice. If this support continues to hold, we could find some movement to the up-side. However if the price falls through 1175 the pressure will be to the downside, with the next support at 1150.
- Crude Oil: The selling pressure does not seem to be abating for Oil, it’s hard to believe that back in June we were trading above $105, this morning we’re trading just about the $75 level with the big support level of $70 in sight. Support is seen @ 73.90 with resistance at 75.45.
- VIX- Volatility index increased by 0.5%.
NEWS – Thursday 20/11/2104
09:30 GMT - GBP – Retail Sales m/m
13:30 GMT - CAD – Wholesales Sales m/m
13:30 GMT - USD – CPI m/m
15:00 GMT - USD – Philly Fed Manufacturing Index
15:30 GMT - USD – Natural Gas Storage
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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