European Markets Higher While Greece Remain In Focus
AvaTrade | Jul 02, 2015 07:06AM ET
Daily Briefing
Currencies
- EUR/USD: The pair is trading above its uptrend 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 has broken its wedge pattern towards the downside on a 30 minute time frame. The next support is at 121.67 and resistance at 125.85.
- GBP/USD: The pair is trading below its 50 day and 100 day moving average 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 higher by adding to their gains on top of yesterday. The Nikkei index is the best performing index during the session and it closed higher with a gain of 0.95%. 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 DAX index is the worst performing index during the session and it is trading lower with a loss of 0.40%. The index is down by almost 3.55% in the past 5 days.
- US futures are trading lower ahead of the US NFP data. Most indices closed higher during the last session and the DOW index was the best performer with a gain of 0.79%.
TOP News
- The Australian trade balance data fell short of expectations with the reading of -2.7B and forecast -2.21B.
- The UK nation wide HPI m/m came in at -0.2% and the forecast was for 0.6%.
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 1160 and the next resistance is near the 1190.
- Crude Oil: The black gold is under heavy selling pressure on a 30 minute. The near term support is at the $57 mark and the resistance is at 63.
- VIX: Volatility index dropped nearly 11.74% on the last trading day.
Top Economic data
09:30 BST GBP Construction PMI
13:30 BST USD Non-Farm Employment Change/ Unemployment Rate
16:10 USD EUR ECB President Draghi Speaks
Trends
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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.
by Naeem Aslam
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