 Hi, good morning and welcome to today's products and focus. So what we're kind of seeing today is a massive sell-off overnight in most global equity markets as the commodities such as oil gold and copper all sold off pretty aggressively yesterday and that put a little bit of Fear back into the market So you can see here very strong bearish and gulfing pattern smashing through almost two levels of support and we're getting quite close to 17361 and we're below that 21 period SMA currently as well obviously we said yesterday that all the technical signals were pointing to a lot of Negative pressure and that pressure has been firmly felt in the US market over nine So jumping on to the UK 100 summer picture more aggressive perhaps 6073 will be the next potential support Smash through both moving averages sell signal obviously very prominent across all these other technical indicators as well so the pressure is on today basically Jumping then on to Japan to do five. It's also had a bit of a reversal Yesterday has almost had a bullish engulfing pattern so far this morning has bounced higher Mainly because they might think that there could be further stimulus measures over in Japan So it's whether the storm slightly better that you got the Germany 30 US 30 and UK 100 on the daily charts all looking fairly ugly actually in the short term All trading towards the bottom end of his range for Japan 25 or in the middle of two ranges 19104 support 20,000 pardon me 87 as potential resistance, so let's move on to dollar yen We have had four days of negativity so people are buying the yen as a safe haven They were yesterday It's not really I actually would have thought that dollar yen would have had a bit more Action in it for it to drop lower with the equity markets tumbling the way that they have yesterday and sell off on commodities But the dollar is this I think there's still like a 70% chance that they're gonna raise rates and December that was the latest stats that I've seen referencing the money markets So I might have thought actually would have been higher than 70% if I'm completely honest But it does give you an idea that is not exactly a hundred percent sure fire done deal yet But this is where we are with that with dollar yen So let's have a look at the commodity market. So West Texas crude trading below 42 dollars That basically means that the next potential support is gonna be down here. Okay, so that's 37 spot 48 That's the tip of this candle here. So we're on the wrong side of 42 dollars basically and what you might expect to happen here If we even look at this from a five minute interval now that we've broken through the level as you might get retracement back up here and then traders will look at this as a Kind of a crossroads. Do you think that West Texas is undervalued and will rebound in which case people use use 42 dollars as a potential? Strategic level. Otherwise, this is just for our tradesmen before we continue our move to the downside And it's all about global demand fears and over supply and blah blah blah about stronger US dollar There's a lot of reasons why West Texas crude is under pressure right now and This candle is particularly negative because it's breaking below the support and it closed at the bottom of his range However, it's not followed through with that much momentum so far this morning So it's by it's by far a done deal. So looking at gold the yellow metals still under pressure but bouncing Beautifully from a technical analysis standpoint from 1,072 Still manage to finish in positive territory But this would normally be a hammer formation which would normally be a reversal signal It's not really a hammer actually now that I think about it because not gone into a green candle So there still is that that issue with with it still be negative and it's not it's already negative this morning It's not ball through right away. Obviously a lot of the other technicals are oversold. It's not surprising But we do have a death cross on the moving averages as well. So from a technical perspective and a fundamental basis This is on the pressure question is If we are only if you've only got a 70% chance of Of the federation rates in December based on the money markets What happens if some of the US data starts to disappoint? So gold still is like a coiled spring because it sold off so aggressively over the last, you know month and a half So there is an opportunity there that if 1,072 remains intact and some US data starts to disappoint It could move up. However, if the US data surprises the market can further still and comes out particularly strong That level of 1,072 will be under pressure So finishing up with your dollar and GBP USD So your dollar actually managing to to break back above one spot zero seven eighty six Only to then reverse course and it's on the wrong side of that level right now That's actually a pretty hard one to quantify. So what I'm gonna do and move this across We're gonna put this here make it a bit a bit easier a bit more Historically focused to the most recent price action and you can kind of see maybe where we are one spot zero eight Nineteen is a potential support level on the short term basis and it's bounced off that that level perfectly If you look at it from this perspective, so these are the levels to be aware of so let's look at one spot zero eight Nineteen as a strategic level finishing up with GBP USD and You can see a similar pattern to your dollar If we are if we're gonna redraw the map here Actually, it's not gonna make a big difference because even if we take it from here We're still on the right side. That is kind of interesting though that we had this bounce off Potentially one spot 51 73 is quite useful to try and redraw some of these levels at some point Let me just get rid of some of the market noise from these charts because a lot of these levels are actually no longer Applicable and if we redraw this to here at the moment Yeah, okay, very very interesting. So this is where we are with GBP USD. It looks to be one spot 51 73 is a level to Keep your eye on the moving averages flatten the Mac these flat and the other technicals are neutral What is next for GBP USD is very quick very good question. So let's think about the macroeconomic data So we've got euros on GDP today actually is important very important for macro data especially heading into the weekend Because some trade of all traders shore up their positions or will they take positions to look towards the next week? So GDP coming in at 10 a.m. UK time looking at trade balance data and You've got PPI from The US retail sales and of course the consumer sentiment survey for the University of Michigan So make sure you guys don't miss anything with a red level of impact here is very important So as ever guys keep your eye on the chart forum Make insights part of your layout going forward and join me again on Monday to find out what happened next