EUR/USD: The pair is trading below its downward trend line on a 240 minute time frame. The next support is at 1.2318 and the next resistance is at 1.2895. USD/JPY: The pair is trading above its upward trend line on a 240 minute time frame. The next support is at 109.18 and resistance at 116 GBP/USD: The pair has broken its rectangular pattern on a 240 minute time frame. The resistance is near the 1.6588 and the support is at 1.5780. Indices Asian Markets closed mostly higher by adding their gains on top of yesterday. The Nikkei index was the best performing index during the session and it closed higher with a gain of 2.05%. The index is down nearly by 0.34% in the past 5 days. European stock markets are trading lower during the early hours of trading. The IBEX index is the best performing index during the session and it is trading higher with a gain of 0.29%. The index is up by almost 0.29% in the past 5 days. US Indices futures are trading flat after closing at record high yesterday. Most indices closed higher yesterday and the S&P 500 index was the best performer with a gain of 0.42%. TOP News The Japanese current account data came in at 0.41T which was higher than the previous reading of 0.13T. The Australian business confidence fell short of expectation this morning. The final data came in at 4 while the previous reading war 5. The UK BRC retail sales monitor data came much stronger than the previous reading of -2.1% while the current reading was at 0.0%. Things to Remember Stops are your biggest friends so make sure use them. Market Sentiment Gold: The precious metal has bounced slightly up today as most of the technical indicators are giving oversold signals. The support is at 1100 and the resistance is at 1180. Crude Oil: The black gold is under pressure this morning once again and it is trading below its downward trend line on a 240 time frame. The next resistance is at 85 and the support is at 70

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