 Hi, hi, good morning and welcome to today's products and focus a little bit of a turnaround in the market yesterday after being down And the doldrums yesterday morning. We were trading below 177 47 Markets have sprung back into life in Europe and the US as we approach the Fed FMC meeting 7 p.m. UK time for the for the minutes there Markets just shooting on up US market in particular generally 30 up and UK 100 up as well We do actually have a death cross here in the moving averages But it's not really slowing down the US 30 right now. There's other technical indicators are quite neutral We've almost got a bullish crossover on the MACD as well. So next potential resistance actually is all the way at 18 1 12 So we are actually in the middle of two ranges. Do you say potential support down here potential resistance at the top? So moving on to the UK 100 I had been looking a lot uglier real strong hammer formation right here So it was a lot lower trading below 66 86 It's now moved up a little bit never in the middle of two ranges 66 86 has potential support 67 71 as potential resistance So then let have a look at the Japan 2 to 5 with the dollar yen still stick around about one twenty three fifty five not really doing a huge amount most Asian markets actually down a little bit as a Chinese stock market a lot of F 5% since since Tuesday So since yesterday, so they've been getting a little bit hard there as well potential support as 20,087 is at the potential support level right there other technicals are relatively neutral. You do have the MACD I'm not really doing a huge amount And this would also coincide with that 55 period FMA. So right now in the wrong side of the other moving average And arguably we are looking at this trend line having actually been broken But it's 20 87 as a horizontal potential support level if that breaks and we trade below the 55 period FMA The next potential support probably be the tip of this candle down here Closer than 19,000 and that wouldn't be so great for the Japan 2 to 5 But Chinese market is getting some hit hard quite right hit hard at the moment But they are trading at incredible valuations relative to their earnings. So looking at dollar yen We are around this 21 period SMA Almost like a kind of a pendant or a symmetrical triangle formation after this sell-off 124 42 still remains a potential resistance And these sell-off there could be contained the next potential support of 121 87 But it's not happened yet. Obviously FOMC tonight is gonna have a big impact on that So West Texas could not a huge amount to talk about here consolidating around about 5950 We are still a bit of a dollar story and an oil production story global demand of anything else Probably not a lot of eyes on this at the moment Looking at gold failed to capitalize on the move beyond 1186 this level has been strategic for Feels like forever really to be honest, but since October last year Failure to break through again there on Monday A retracement back up towards it yesterday failed to materialize and we're down a little bit lower today I wouldn't really expect the markets to be doing anything too crazy before the FOMC tonight at 7 obviously people are still talking about grease but more Articles and the more commentary and more analysis to see in that whole scenario the more it feels like grease might actually default and That the only way way out for the political party there is either for them to stay the course and leave the Eurozone or further to be a Change in and government across there because they won't be able to fulfill their promises if they bend over For the Eurozone creditors, they'll have no credibility to political party because that was their whole mandate The whole platform of election. So I really feel that the the Greek Political parties reason they only have one choice right now and that is to stay the course and it's not gonna end well I don't I don't feel But the markets taking it very much in a stride the euros not getting hurt that that much in the back of it Greek stocks constantly are getting absolutely hammered But wouldn't be that surprised if a grease nationalizes its banks very shortly because there's such a outflow of capital There at the moment And that'd be a precursor to them defaulting on their loan and that they won't be part of the Eurozone for that much longer But you know these things do one minute. It's definitely gonna happen next minute is looking unlikely a deal could still be reached but at what cost really and We'll find out of the next next couple of sessions They've got till the 30th June to make this next payment to the IMF, but this weekend's their last opportunity for a big a big breakthrough Negotiations and just feel kind of distant at the moment But looking at your dollar is not really massively impacted consolidating around about one 1260 ish With one spot 11 being the potential support longer-term potential resistance still remains quite far away Incidentally one spot 16 42 Almost got a bearish cross there in the MACD other technical indicators relatively neutral Could be getting could get additional support from these dual moving averages right here So one spot 11 is very important for your dollar this conduct at this conduction the conjuncture if we break below that That would be so good, but I'm very surprised the euro has been so resilient when there's so much uncertainty kicking around GBP USD smashing it moving up very very nicely right here One above 156 happy days one spot 5743 is next potential resistance and that would coincide with it You know a year high almost if you look back here in December last year We're not that far away from there just now So we break above those may highs we can start to think about one spot 59 and then we're very close to breaking psychological one spot 60 So GBP USD certain looking interesting now today you do have the Bank of England NPC minutes So that's going to be interesting for cable traders and you keep on hundred traders as well the guys are going to come out with a statement as well talking about The number of votes they have to for foreign against a rate hike Obviously is probably going to be zero nine incidentally, but you never know what else might come out in the written statement Then we've got unemployment Change data all coming out at 930 more eurozone inflationary data So and that's been ticking up surprisingly for some strange reason So CPI due at 10 a.m. UK time and it finishing up with crude oil inventories and then of course tonight's 7 o'clock the FOMC Remember we do have a webinar tonight You go to support live trader events and you can set up to our live webinar And that's going to be a very interesting session No doubt for some reason if some commentators are coming out and saying all we think they're going to be way more Dover's than expected and then unbacked of all that all the macroeconomic data coming out of America is better than Estimates so Things looking kind of interesting out there in those markets. I'd be massive is surprised that they're very dovish But maybe the Americans want to keep their currency devalued. They don't want to speak to markets, but they're still trading still Relatively high levels, but you have to tune in to find out what happened next so join me again tomorrow We'll go through the details then take care. Bye. Bye