 Hi, good morning and welcome to today's products and focus so this week brings us the long-awaited FOMC on Wednesday We were going to get an idea if the Fed is going to raise rates or not It's about an 88 5% chance that priced into the market is currently looking at the bond markets and Certainly Friday brought with it some Morgan negative negativity into the into the equity markets We've seen a fairly staunch sell off across most equity markets More so prevalent on the UK market than anywhere else at the majors because of its big exposure to commodity markets and it's looking particularly ugly this morning with crude oil briefly trading below $34 That's right below 35 down at 3490 to start the session and since had a little short-term bounce But you can say see another bearish and golfing pattern on Friday We've had a modest bounce this morning towards potential broken support now expected act as potential resistance 17361 we're trading below both moving averages the other technicals are relatively neutral But the MACD here is just crossing the zero line which is adding to the technical negative picture the next potential support at 17,000 and 34 on the US 30 On the weekend. We also had some Chinese data on Saturday that actually came out marginally better than expected But it's not had a massive impact because people are just so focused now on that FOMC session on Wednesday So let's have a look at the UK 100 right now And as you can see it's looking particularly ugly at the moment a proper breakout there on late on Friday late in the session very negative day down 2.44 percent as I said It's had a bit of a modest bounce this morning But the next potential support is all the way down at five thousand seven hundred and seventy We're firmly below the moving averages all of the technicals are extending into Oversoul territory actually have the RSI is in the oversoul territory right now But the signal to reverse has not yet been given it's got a cross back through that 70 percent level Which hasn't a 30 percent level which hasn't happened yet, but You can see we're quite close to plumbing the depth that we had there at the end of August This is the Chinese slowdown that was impacting the equity markets and just to show you where we are in relation to previous highs that the UK market has reached You can see from here that every break below 57 70 you are probably looking at the next potential support being 50 to 20 And then follow after that by by 47 26 So looking very top-heavy at the moment the UK market and as long as the commodity markets remain depressed It's going to feel extremely pressured. So then jumping on to Japan 2 to 5 another kind of bearish and Gulf and partner on Friday a bounce off potential support at 18,648 We are now trading below both moving averages with the other technicals still Showing a little bit room for further downside potentially So then moving on to dollar yen and dollar yen is trading and some quite tight narrow ranges at the moment between 120 spot 55 and 121 spot 87 Has been very it found it very very tough to break out of this area As soon as the yen started to get a little bit more buying interest is uncertain to jump into the markets Even though we've got obviously the FOMC Next week it's around Wednesday People are still buying the yen as a safe haven asset in the face of all this uncertainty So let's have a look at West Texas Cruden as you can see we just briefly broke below 35 30 That broken support now expected to act as potential resistance. The next potential support is down at 27 28 now I'm just going to go into my weekly chart and then extend this out We've actually got to go quite far to see it. We're looking at the tip here from December That is the next no, we're actually trained below that just now. Sorry. That's we're below that those lows I have to go into my monthly chart now to to get some of some data. So What if I even just trying to draw that on it's a little bit better. We're actually looking at 26 93 so let's just say 27 dollars is to keep it nice nice and easy That's for the next potential support level is so a Lot a lot further that West Texas could could go if we see an acceleration and I think the FOMC coming out. We'll be looking at the initial market reactions when that happens So that's where we are with West Texas Cruden Let's have a look at gold gold a bit of a tough one to get your head around right right now It seems to be oscillating again around 1072 dollars, which is hugging that 21 period SME other technicals are relatively neutral Yeah, try to go up it gets pushed back down try to go down it gets pushed back up It just seems to want to settle up this area who might argue. So let's have a look at your dollar and GBP USD So your dollar Again quite close to that 55 period SME Long term potential resistance one spot. Let's just say one spot 11 Obviously the FOMC if that comes out for the interest rate a hike or depends on the rhetoric that gets used around that as well We could see a move back then towards one spot 0 8 19 But remember about 80% of this 85% of this is already priced in if they don't raise rates watch your dollar I should be kind of interesting and let's finish up with GBP USD It's starting to gain a little bit of momentum behind it managing to break up higher But kept again that 55 period SME and it's had a bit of profit taking this morning The question is can we get through this sloping support line and break this downtrend channel? That might be in place right now then be able to reach out one spot 54 97 or one spot 55 That is the question so I come a day wise not a huge amount out today Tuesday, you've got UK CPI ZDW business report that's big for German clients and CPI in the US and then obviously Wednesday's big day You've got PMI from Japan Germany Eurozone unemployment data from the UK CPI again from the Eurozone housing starts from US industrial production Could all inventories and then you've got the FOMC policy rate decision That is going to be a huge massive deal Make sure that you go to support your live trigger events and sign up to our live webinar Sure, there's a lot of people who are interested to see how that one pans out Well guys keep your eye on the chart form make insights part of your later going forward and join me again tomorrow to find out What happened next?