US Futures Trading Higher Ahead Of Busy Week
Saxo Bank | Aug 18, 2014 06:42AM ET
Daily Briefing
Currencies
- EUR/USD: The pair is trading in a symmetrical triangle pattern on a 60 minute time frame. The next support is at 1.3292 and the next resistance is at 1.3521.
- USD/JPY: The pair is trading above its upward trend line on a 60 minute time frame. The next support is at 101.79 and resistance at 102.97
- GBP/USD: The pair has bounced from OUR Identified level, which was given last week on a 60 minute time frame. The resistance is near the 1.6861 and the support is at 1.6699.
Indicators
Indices
- Asian Markets closed mostly higher on the first trading day of the week. The Shanghai index is the best performing index during the session and it closed higher with a gain of 0.55%. The index is nearly by 0.82% in the past 5 days.
- European stock markets are trading higher during the early hours of trading. The DAX index is the best performing index during the session and it is trading higher with a gain of 1.54%. The index is up by almost 0.29% in the past 5 days.
- US Indices futures are trading higher after a wobbly week. Most indices closed higher Friday and the NASDAQ index was the best performer with a gain of 0.27%.
TOP News
- The Australian motor vehicle sales m/m data fell short of the previous reading of 2.2%. The final reading was at -1.3%
- The Chinese foreign direct investment data came in at -0.4%. The previous reading was at 2.2%.
- Mark Carney, the governor of the Bank Of England said it is not necessary for the wage growth to increase before they increase the interest rate which is another mixed signal by the bank.
Things to Remember
- Stops are your biggest friends so make sure use them.
Market Sentiment
- Gold: The precious metal is trading in a side way pattern but still above the $1300. The next support is at 1292 and the resistance is at 1324.
- Crude Oil: The black gold is trading near the support zone of 93.46-94 on a 4 hour time frame. The next resistance is near the 98.
- VIX: Volatility index increased nearly 5.88% yesterday.
News Agenda For Today
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Trend
The GBP and SEK are trending up against the USD, while the NZD and CAD are trading lower against the USD on an intra-day basis.
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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