 Hi, good morning and welcome to today's products and focus so have a quick look here at the US there You can see we had a negative day there on Friday with a bearish engulfing pattern breaking below 18,000 112 Just closing just on that 55 period SMA bouncing off run about the 18,000 level and Overnight we have PMI data come out of China some of the lowest data since since 2008 Still on the right side of the 50% level But it's just looking more likely that the Chinese will have to engage in some sort of stimulus measure Some points of the proper the economy. I think their GPs dropped to about 7% Which again is I think that's 25 year the slowest that GPs has increased in 25 years and way too many people using the current Cheap money in China to Invest in the stock market apparently so there's a big massive bubble potential over there and that could have a Small impact or a big impact sorry on the rest of the other global markets And we've also got the grease steel trying to get hammered out today throughout the speak as well And then most global most other global markets are towards the bottom of the ranges right now So if they just managed to post a bit of a positive day, but Nothing too exciting. So moving on through keeping 100 negative day there again on Friday subversion gulfing Another negative start to the day But way from Friday's session lows So we're still quite close to 21 and 55 period SMA Maybe an ascending triangle formation which would be a continuation pattern with a breakout towards the top end Otherwise a break of the trend line would open up and move much lower Other technical indicators are pretty neutral to be honest and nothing else really to cover right there Japan 225 Dole yen is currently trading 124 was at 124 spot 30 Earlier you can see here from the candle not quite as high as it has been but I will trade this is a Japan to defy But and nevertheless Japan to defy pushing on higher Chinese stocks have managed to rebound after the 7% drop on Thursday So they've had a decent a decent start to the week today and Asian shares of Japan to defy But false it moved up a little bit higher So that might be a little better profit taking right here move up to the top side for a re-challenge 2868 moving on to dollar yen for a second you can see here the great move that we've had 124 42 is that potential support level there is a next one But it's miles away should we choose to break out of 124 45 in fact Let me just quickly get my monthly chart up here for a second because that's how far back you actually have to go To get the next Significant level and there is Oh well 129 so no so no massive major dramas there But that is a significantly far away potential resistance level should we get a technical break out of 124 42 So then having a quick look at could all with Texas We just quickly open that one up there just now Fantastic day there on Friday a real push-up to the upside back up to 5950 Everything else can flattening out right now 64 dollars is the next potential resistance Should we get a little bit of extra momentum? Obviously you've still got the tips of these candles right here around about 6172 in fact I can pretty much just take that one out for now because it looks like it's not really in play at all right now And I'm going to reinstate the tips of these candles right here because that's what we really want to get through is 6178 I probably still say that 57 is worth having on there other technical indicators are pretty neutral and that's where we currently stand So moving on to looking at gold the dollar isn't doing a huge amount at the moment still got a lot of consolidation 1186 we had an attempt this morning on gold to break up a little bit higher after three doji formations Just on support This is a graveyard doji formation right now should that one remain intact for the day obviously we just started the session We've got two moving averages adding selling pressure That's supposed to wrap that down if we've got another say if we've got another candle looks similar to this This wouldn't be a good sign for gold in the short term Because that shows that you know, we're much higher that the bears basically to control the session and we're able to push this right back Down again other technicals are neutral with a Mac D cross and zero line is only other negative connotation on there if all of the fundamentals remain in play I And straight rising in the US before anywhere else and then gold's gonna fuel the pain So moving on to your dollar bearish engulfing patterns for today, but we're going to start the session big run on Greek banks on Thursday and Friday last week over 800 million euros was taken out of deposit banks on Greece on Thursday and even more on Friday queues at the door apparently And that's not very good for for Greece going forward. So obviously a lack of confidence that a deal will be reached They're still saying that a deal will be reached but They've got until this week. I think they've got until Friday to sort that out So they really need something this week if they don't you want to leave it to the very last day instantly But that's probably what will end up happening bearish engulfing pattern just just now 55 period SMA bounce off Long-term potential support one zero seven eighty six and potential resistance remains at one spot eleven And to finish up there with GBP USD. This is a proper break of this trend line now We are getting a Well, I'd like to say a shortening of the legs of these candles But it is kind of curving down as we get closer one spot to 185 that looks to be the next potential support level I fear gonna get any other re-challenge up to the upside But yeah, it doesn't look so great in the short term certainly more negative and positive right there and As if this kind of pattern continues on and there's just curves and slopes down here You maybe think that the mid-june We might be we might be down here if the rate of acceleration remains constant unless we less the macro data says otherwise And that would give time for this 55 period SMA to catch up as well And that could be the springboard for any further move to the top end So GBP get a bit of a boost from local macro data. So I come at data-wise today We've already had Asian PMI, which pretty much just came in as as expected This one here. That's that didn't anything below 50 to contraction. So that's not so good And that's over in China and then you've got German PMI Eurozone PMI and UK PMI These are often often market And then you've got German consumer price index And US PMI ISM manufacturing data today So a fair amount of inflation related data due to date And if you just fast forward on to Tuesday, we've got German unemployment and Eurozone CPI and PPI And then Wednesday HSPC PMI for China That's obviously going to be expected to come in closer to 52 and change UK high prices So much PMI data coming out. We've got some more Eurozone and UK stuff retail sales and 80% of payroll so that number of payrolls come up on Friday as well trade balance and everything else So and Wednesday promises to have a fair fairly large amount of data releases But you know Tuesday and today aren't shrinking by let's either an instance So as ever guys keep your eye on the chart forum make insights probably later going forward and join me again tomorrow to find out what the next