European Markets Up On Abe’s Victory
AvaTrade | Dec 15, 2014 06:51AM ET
Daily Briefing
Currencies
- EUR/USD: The pair is trading above its upward trend line on a 30 minute time frame. The next support is at 1.2238 and the next resistance is at 1.2607.
- USD/JPY: The pair is trading above its upward trend line on a 30 minute time frame. The next support is at 116.64 and resistance at 121.53
- GBP/USD: The pair is trading in a rectangular pattern on a 30 minute time frame. The resistance is near the 1.5904 and the support is at 1.5457
Indices
- Asian Markets closed lower on the first trading of the week. The Nikkei 225 index was the worst performing index during the session and it closed lower with a loss of 1.57%. The index is down nearly by 2.45% in the past 5 days.
- European stock markets are trading higher during the early hours of trading. The IBEX 35 index is the best performing index during the session and it is trading higher with a gain of 0.29%. The index is down by almost 4.95% in the past 5 days.
- US Indices futures are trading higher but traders are cautious ahead of the FOMC meeting this week. Most indices closed lower on Friday and the S&P 500 index was the worst performer with a loss of 1.64%.
Indicators
TOP News
- The Australian new motor vehicles sales m/m came in at -0.6% which better than the previous reading of -1.8%.
- The Swiss PPI m/m data fell short of expectations with the reading of -0.7% while the forecast was at 0.2% and the previous reading was -0.1%
Things to Remember
Manage your stops and dot let your winners turn into losers.
Market Sentiment
- Gold: The precious metal is trading above its upward trend line on a 30 minute time frame. The support is near the 1180 and the next resistance is near the 1240.
- Crude Oil: The black gold has broken its major support of $60 on a 30 minute time frame yesterday. The near term support is at the $55 mark and the resistance is at 65.
- VIX: Volatility index jumped nearly 4.98% yesterday.
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