US Futures Higher Ahead Of FOMC Minutes
AvaTrade | Jul 08, 2015 06:30AM ET
Daily Briefing
Currencies
- EUR/USD: The pair is trading near support zone of 1.096-1.094 on a 30 minute time frame. The next resistance is at 1.1288 and the support is at 1.0885.
- USD/JPY: The pair is trading in a downward wedge pattern below its 50 and 100 day moving average on a 30 minute time frame. The next support is at 121.67 and resistance at 124.73.
- GBP/USD: The pair is trading below its downward trend line 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 lower by building up losses on top of yesterday. The Hang Seng index is the worst performing index during the session and it closed lower with a loss of 6.36%. The index is down nearly by 2.30% 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 0.15%. The index is down by almost 3.55% in the past 5 days.
- US futures are trading lower ahead of the FOMC Minutes. Most indices closed lower during the last session and the DOW index was the best performer with a gain of 0.53%.
TOP News
- The ECB officials have said that they will be not increasing the ELA with Greece committing to reforms
- Tokyo shares have suffered their worst loss in almost 16 years
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 1130 and the next resistance is near the 1174.
- Crude Oil: The black gold is trading below its downward trend line on a 30 minute. The near term support is at the $48 mark and the resistance is at 57.
- VIX: Volatility index increased nearly 1.31% on the last trading day.
Top Economic data
11:30 GMT
GBP – Annual Budget Release
12:30 GMT
CAD – Building Permits m/m
14:30 GMT
USD – Crude Oil Inventories
18:00 GMT
USD – FOMC Meeting Minutes
Get The News You Want
Trends
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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