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FXPrimus has summarized the important market indicators of the day.

Today’s Important Indicators

The currency markets traded in a range yesterday with marginal bearish movements seeing in EURO and CABLE, and prominent in GOLD.

Bitcoin keeps beating expectations and hits fresh highs.

This morning started on a bad footing for DOLLAR. More opportunities are likely to appear around the release of the Canadian Interest Rate and US data.

Today’s Forecast for Important Trading Indicators

Market Movers

  • EURUSD – EURO falls on German Final Services PMI growth revision to a 3-Month low. EUR declined against USD some 35 pips yesterday following disappointing news from the strongest economy in Europe. The pair is trading within a bearish channel yet a bullish bias on the medium and longer term as price was rejected at the recent 61.80% FR at $1.1800. A formed bullish divergence may push the pair higher above the descending trendline, a break of which will validate the upwards move.
EURUSD 1-HOUR CHART
  • GBPUSD – STERLING deteriorates against DOLLAR on worse than expected Services PMI. The British Pound dropped to a daily low of $1.3365 following data from Market yet the 38.20% FR rejection at the said price level took the pair to a close above of $1.3435. Without any economic events on the calendar today, technicals are likely to drive market sentiment while uncertainty surrounding the Brexit divorce may weigh in.
  • USDJPY – YEN adds to selling pressure, DOLLAR holds firm undeterred. Following a Monday rejection at the 23.60% FR DOLLAR saw a somewhat mixed session amid a decline in risk-on appetite. The Japanese Consumer Confidence added selling pressure on the pair as the print came out better than expected. Investors patiently wait for today’s ADP and Crude Stocks releases while a Head and Shoulders pattern forms on the daily chart.
USDJPY DAILY CHART
  • USOIL – US OIL closes the session unchanged despite early bullish sentiment as API disappoints. OIL prices had bulls and bears on a ‘battleground’ yesterday as earlier gains were recovered by bears following a huge build in Gasoline inventories. Ahead of EIA’s release and after OPEC’s storm, market participants take a breath just for a few hours before taking advantage of trading opportunities.
  • XAUUSD – Gold plummets to 8-week low on hopes that Trump will soon sign a Tax Relief bill. Spot GOLD closed the session nearly $10/oz lower yesterday despite DOLLAR’s slight weakness as the Senate’s bill could soon be signed into law. The disappointing ISM from the US side helped GOLD price recover $5 from the daily low. Today GOLD started on a positive footing while it struggles to hold above the 200 DMA.
  • US Indexes – DJ fell by 0.45%, S&P 500 by -0.37%
  • European Indexes – UK 100 trades -0.43%, DE 30 -1.18%.
  • Asian Indexes – ASX 200 declined by 0.45%, Hang Seng trades 2.05% lower.
  • US Equities – Twitter rose by 1.81%, Exxon Mobil fell 1.33%
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4.9/5 1166
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3.6 rating based on 99 ratings
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5

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3.9 rating based on 43 ratings
3.9/5 43
1

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3.9 rating based on 7,130 ratings
3.9/5 7130
2

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4.3 rating based on 7,662 ratings
4.3/5 7662
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4.2 rating based on 3,323 ratings
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1.9 rating based on 4,447 ratings
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3.3 rating based on 4,701 ratings
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