US Futures Flat Ahead Ahead Of FOMC Member Lockhart Speech
AvaTrade | Aug 10, 2015 06:46AM ET
Daily Briefing
Currencies
- EUR/USD: The pair has bounced from its support zone of (1.0868-1.0814) on a 4 hour time frame. The next resistance is at 1.1216 and the support is at 1.086.
- USD/JPY: The pair has broken out of a symmetrical triangle pattern towards the upside on a 4 hour time frame. The next support is at 120.37 and resistance at 125.85.
- GBP/USD: The pair is trading below its downward trend line on a 4 hour time frame. The resistance is near the 1.5780 and support is at 1.5368
Indicators
Indices
- Asian Markets closed mostly higher on the first day of the week. The Shanghai Index is the best performing index during the session and it is closed higher with a gain of 4.91%. The index is up nearly by 1.02% in the past 5 days.
- European futures are trading higher during the early hours of trading. The FTSE MIB index is the best performing index during the session and it is trading higher with a gain of 0.29%. The index is up by almost 2.85% in the past 5 days.
- US futures are trading higher ahead of the FOMC members speech. Most indices closed lower during the last session and the NASDAQ index was the worst performer with a loss of 0.25%.
TOP News
- The Japanese consumer confidence data came ina t 40.3 while the forecast was much higher with a reading of 42.2.
- The sentix investor confidence data fell short of forecast with the reading of 18.4. the forecast was for 20.2.
Things to Remember
Use your stops and manage the risk
Market Sentiment
- Gold: The precious metal is trading in a side way pattern on a 4 hour time frame. The next support is near the 1050 and the next resistance is near the 1100.
- Crude Oil: The black gold is trading below its downward trend line on a 30 minute time frame. The near term support is at the $43 mark and the resistance is at 47.
- VIX: Volatility index dropped nearly 2.76% on the last trading day.
Top Economic data
17:25 BST
FOMC Lockhart 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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