EUR/USD: The pair is bouncing back up from OUR identified support zone (given on the 26th February) on a 4 hour time frame. The next support is near the 1.08832 level and the resistance is 1.1387.
USD/JPY: The pair has broken its downward trend line on a 4 hour time frame. The near term support is at 109.60 and the resistance is at 115.83.
GBP/USD: The pair is trading below the 50 and 100 day moving average on a 4 hour time frame. The next resistance is at 1.4014 and the support is 1.3752.
Asian markets closed mostly higher on the first trading day of the week. The Shanghai index was the worst performer during the session and it closed lower with a loss of 0.95%. The index is down by 9.53% during the past 5 sessions.
European futures are trading lower during the early hours of trading. The DAX index is trading lower with a loss of 0.29%. The index is down by nearly 3.58% over the past five sessions.
The US markets are trading lower ahead of the Pending home sales data. The NASDAQ index was the best performer on the last trading day with a gain of 0.17%.
The Japanese retail sales data data came in at -0.1% at while the forecast was for 0.2%.
The German retail sales data came in at 0.7% and the previous reading was at 0.6%.
Crude Oil: The black gold is trading above its upward trend line on a 4 hour time frame. The next support is near the 31.28 and the resistance is 34.91.
Gold: The precious metal is trading below its downward trend line on a 4 hour time frame. The next resistance is at 1260 and the support is at 1219.
The VIX index popped by 3.66% during the last session.
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