 Hi, good morning and welcome to today's products and focus. So there's probably about two main parts of information You want to know about in regards to fundamentals one is Japan has now gone to negative interest rates Which has not had the impact on the Japanese yen that croda might have possibly wanted because the yen's actually Ended up increasing in strength in the back of that and the second part is the fact that Iran is not looking to cut its Production anytime soon. They've pretty much come out and said that until we get our Production and our economy back on track. We're not in any position to make any kind of production Hults or production cuts or anything else like that. So oil prices have taken a bit of a tumble They were about 37 yesterday. They've gone down to about 35 now And the big question marks over what was gonna happen kind of going forward because if Iran now is basically the same look I think everybody understands we are just coming out of sanctions. We want to make as much money as we can We're not just gonna go ahead and just put any cap on our production We've got lots and lots of oil to sell lots and lots of people want to go ahead and buy it And we don't want to be restricted in the back of that and that's hardly surprising But the markets have taken that to be a little bit of a knock Nevertheless, it's an interesting situation to be in. So back on to Japan Mario Draghi, of course has already taken The euro and to negative rates for not really had the impact that he initially expected now Karoda has surprised the markets and also come out with negative rates over there as well And there is this element for both Europe and for Japan. Let's wait and see what happens so Let's go ahead and wait and see but Dollar yen when we have a look at it from a charting perspective. It wasn't a triangle formation I think it's kind of is moving lower right now But it's consolidating around the base of the triangle area But we'll go ahead and have a look at that in a second as well The DAX Germany 30 managed to break 10,000 yesterday as well So it's a psychological round number on one last piece. I think there's outflows and in flows into US equities So share buybacks for American companies on the S&P 500 I think US companies looking to buy back a hundred and forty billion dollars worth of stocks Whereas you could have the US retail private investors are taking out 40 billion so that's one of the biggest divergences that we've actually seen between retail and Firms for quite some time and perhaps that's quite time But the US 30 is still moving along quite nicely, but we'll go ahead and have a look at things from a technical perspective right now Okay, so this is where we are with the US 30 We had a bit of doji formation there yesterday a bearish engulfing pattern currently But it's only just the doji was so small still massively overbought and slow stochastic 80% of seems to mark clients are currently short This is what the kind of picture looks like and they can have a longer time period Where we had this period of consolidation a sell-off and move up a sell-off and we might be in there and a bit of a Flux right now as well 17,037 still remains a potential support with a longer term potential resistance being at 18367 But arguably arguably you'd be looking around at the tips of these candles around about 17 900 and change as an x potential level as well, but long-term potential resistance 18,367 Moving on to the UK 100 We had a failure to break these tips of these candles there these levels here are going to be quite interesting for that number of sessions That's 6200 change we're on the back foot this morning, but we're still looking okay seems to clients 52 percent long 60 70 is a potential support and you've got that 21 period SMA to slowly Ticking its head above there just now as well You do have a sale signal on the slow stochastic and you almost have a negative crossover on the MACD So there's a little bit of pressure on the UK with a hundred right now Then moving on to Japan 225 version girlfriend pattern obviously back with that yen strength and negative rates in In Japan and the impact of those negative rates on the banking sector within that area is something to be Considered I think banks have seen a lot of their profitability being eroded away by negative rates for some time 62% of CMT marks clients are currently short You are looking at 16 896 as a potential support level. We should also coincide that 55 period SMA moving on to dollar yen and It's actually there was a double bottom right there, but I don't think it's really Progressing as nice as we would like We arguably are looking at this pattern right here Let's get my trend line. Sorry. I'm gonna take the tip of this candle here and Just get right to here. So we could be in a symmetrical triangle formation In which case this this move that we've seen today Be interested to see if we get a break or lower back down to 111 spots 61 we're trading below that 21 period SMA and also these To resistance and support level right here breaks down below the SMA and breaks through that potential trend line You could be looking at move towards that next potential support, but arguably you could also be looking at the At the tips of these two candles right here has been the next potential support like this one here is okay This potential support must be from some time ago. Let's have a quick look back on to the weekly I was from a long time ago So I think you would be taking the tips of those two candles in the daily as It's probably been something to have a look at just because we have we have treated below it I've not closed below this level for for a little while, but you could be looking at 111 and then followed by the tips these candles and that's actually pretty much bang on while 11 spot zero So they're moving on to crude oil West, Texas 69% of seems to mark clients are currently short that move yesterday's bringing us a bit closer to potential support at 35 spot 13 trend is still largely intact failure to break above Looks to be 38 and change Do we actually get above there on we did 38 spot zero zero one But we failed to re-challenge 40 dollars that kind of gives you a bit of an idea of where we are So we're seeing a bit of a treat back down 30 by 13 is that next potential support level to be aware of moving on to gold Gold's gonna reversing around a little bit more hard now breaking through potential support breaking through turning on pureed SMA All the technicals looking a little bit rough at the moment where we are right now 1191 could be the next potential support level to be aware of and then finishing up with your dollar and GBP USD So your dollar still hugging one spot 11 This looks to be a strategic level in the short term potentially strategic level in the short term And depending on your views, you're either gonna get a technical break below one spot 11 for move back then towards one spot zero Wait, or should this area continue to consolidate and Remain unbroken with a close below it then you could end up saying and move back up towards one spot 14 89 but at the moment you've got a high and you've got a lower high It could be making a pattern of lower highs where it might have this kind of wave formation We might end up getting a move moving a little bit lower Then they move back higher move back lower the move back higher all the way back down But it all depends on what Mario Draghi does and they macro data coming out of the eurozone So then finishing up with GBP USD better reversal yesterday bit lower today 93% of seems to markets clients are currently short one spot 4228 is the potential support level and today's the first day Off the FOMC finishes tomorrow. I've got look at the market calendar We've got retail sales due later on today in the US And then obviously you've got the FOMC tomorrow petroleum Output you've got industrial production housing starts and CPI That's one as tomorrow so quite a big day tomorrow and then Thursday You got CPI the Bank of England industry announcements and employment claims in the US and then finishing up the Friday You've got the consumer sentiment survey University of Michigan to look forward to as well Well, that's it for me guys We're good luck with your trading and join me again tomorrow to find out what happened next. Thank you very much and goodbye