US Futures Higher Ahead Of FOMC Data
AvaTrade | Jul 29, 2015 06:43AM ET
Daily Briefing
Currencies
- EUR/USD: The pair is trading in a downward channel 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 formed a symmetrical triangle pattern on a 4 hour time frame. The next support is at 119.78 and resistance at 125.85.
- GBP/USD: The pair is trading in a symmetrical triangle pattern on a 4 hour time frame. The resistance is near the 1.6030 and support is at 1.5368
Indicators
Indices
- Asian Markets closed mostly higher by erasing some of their losses from yesterday. The Shanghai Index is the best performing index during the session and it closed higher with a gain of 3.44%. 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 100 index is the best performing index during the session and it is trading higher with a gain of 0.45%. The index is down by almost 0.54% in the past 5 days.
- US futures are trading lower ahead of the FOMC statement. Most indices closed lower during the last session and the NASDAQ index was the worst performer with a loss of 0.96%.
TOP News
- The Swiss UBS consumption indicator came in at 1.68 which was above the previous reading of 1.62.
- The UK net lending to individual m/m came in at 3.8B while the forecast was for 3.0B.
Things to Remember
Use your stops and manage the risk
Market Sentiment
- Gold: The precious metal is consolidating in a side way pattern on a 30 minute time frame. The next support is near the 1086 and the next resistance is near the 1146.
- 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 $45 mark and the resistance is at 50.
- VIX: Volatility index dropped nearly 13.85%% on the last trading day.
Top Economic data
15:30 BST
USD – Crude Inventory
19:00 BST
USD – FOMC mins
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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