EUR/USD: The pair fell from its our identified resistance level (1.3974-1.3944) on a 30 minute time frame . The next resistance is at 1.40 and the support is near the 1.3844. USD/JPY: The pair bounced from its support zone and it is trading back in that zone (101.38-101.16) on a 60 minute time frame. The support is at 102.62 and resistance at 104.44. GBP/USD: The pair broke its support zone (1.6614-1.6591) however it has bounced back up from this zone on a 30 minute time frame. The resistance is near the 1.6815 and the support is at 1.6614. Asian Markets closed mostly up by building up their gains from yesterday. The Nikkei index was the best performer during the session and it closed higher with a gain of 0.93%. The index is up nearly 3.90% in the past 5 days. European stock markets are trading lower during the early hours of trading. The DAX index is the worst performing index during the session and it is trading lower with a loss of 0.65%. The index is up by almost 5.18% in the past 5 days. US Indices futures are trading near the flat line ahead of the core CPI data. Most indices closed higher yesterday and the S&P500 index was the best performer with a gain of 0.97%. TOP News The German WPI data came in at -0.1%, while the forecast was at 0.2%. The German Zew economic sentiment data came in at 46.6 which was well below the forecast of 52.8. The European Zew economic sentiment also fell sharply with the final reading of 61.5 while the previous reading was at 68.5 Things to Remember Manage your risk not the market expectations. Market Sentiment Gold: The precious metal bounced from its support of 1355 on a 2 hour time frame. The near next term support is at $1320 and the next resistance at $1400. Crude Oil: The back gold fell below the level of $100 on a 4 hour time frame. The near term resistance is at 101 and support at 97. VIX: Volatility index dropped nearly by 12.23% yesterday.

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