 Yeah, hi. Good morning and welcome to today's products and focus if I'm see last night was relatively dovish with most members It choosing to give the rhetoric that the Fed once raised to stay longer for lower That's caused the US dollar to reverse course ever so slightly and the US markets just to have a little dip in the backside because a lot of the Macro data coming out of America has been a bit mixed and made reference to that and I'll be at things are obviously still doing. Okay. It's it's not like an all signal dancing version of the economy out there So what a lot of traders taking out of this is the fact that June's not it's probably not going to be the month that the US Does their first rate hike a later rate hike and lower rates first That's a kind of a slower trajectory a trajectory of higher rates in the future. So Not a huge amount of activity in the US dollar, but it's easily done It's basically versus the euro. It's had a quite a decent big reversal there And probably about 1890 points. It's not huge But it's certainly what people will be talking about today and you've actually got some ECB minutes you later on and today's session as well Greece Ukraine Still lots to talk about so the US there is actually trading below potential support at 1799 8.7 at the moment So looking at the UK 100 that briefly reached an all-time high there yesterday doji candle formation unable to close above 6906.8 We're still relatively volatile this morning back inside the side this Ascending triangle formation, which it probably isn't that massively surprising We've not had like a staunch sell-off obviously great below this potential trend line right here that might change things slightly But you know, we're still looking for our close above 6906 UK 102 because soldier on so looking at Japan to do 515 year highs the highest been since 2000 With the dollar yen, you know, the yen has been gaining a lot of that strength following the FOMC announcement last night It's not really holding back Japan some data there just now is is encouraging for their For their economy, but these two longer candles that we actually have right here at 18306 that's indicative of the fact that there is obviously Psychological resistance right there. There are some people looking to Get out their long positions right here But there's nothing to indicate that there might be a big turnaround in Japan to do 5 I'll be a trader will be looking at dollar yen for that yen exchange ring So actually having a look at the dollar yen effects pair still bouncing around 119 It's been doing so since since December. You're probably getting a flattening of the Volatility up to that point. You can even see the moving averages are beginning to flatten out as We trade in this tight range the technicals as well are probably a little bit of a waste of time right now Because they don't work well in a sideways movie market with the MACD for example But you could look at the RSI and it's supposed to cast it there if you're looking for the overbought oversold areas But the moving averages are going to be Not work they're not gonna be working out well in this particular instance just now So 119 remains the pivot for dollar yen and we'll see which position it goes next So moving on to crude oil West Texas We do have a crude oil inventories coming on a Thursday rather than the Wednesday There are expectations that the crude oil inventories today are going to be rather large We are breaking below the potential trend line here on West Texas crude If this was like an ascending triangle formation is broken the bottom of that pattern right now Which if you follow the basic rules of the classical rules of technical analysis, we may it would be indicative of you take the Wipf of the triangle at the base applied to the breakout and that would give us a potential $43 Potential support level, which obviously is the bottom of this area here anyway Should we see an acceleration to the downside today? It's not looking That's strong this morning, but it's only down point two four percent currently But keep your eye on that crude oil inventory data. Let's do that. It's at four o'clock UK time today So make sure you've got your alert set for that I was actually quite a lot of economic data due today You do have a US unemployment claims your zone CPI and the Philly Fed data as well So there is an obviously some ECB news coming later on so looking at gold obviously we had We talked about gold a lot about it not being in a great place just now because of the dollar Obviously dollars is kind of rolled over ever so slightly. So we've got a hammer formation on gold We've got further upside today, but we've been unable to break above 12 18 Which the next potential resistance could be getting death cross and moving averages Technicals are moving into oversold territory, but not yet giving any strong reversal signal incidentally If gold breaks above 12 18 that maybe kind of changes things ever so slightly The devil's FOMC last night hasn't caused a huge massive shift And the FX markets I would be kind of surprised if gold then something begins to shut up Quite aggressively, but certainly we are having retracement just now and 12 18 is an important level for traders to be aware of So having look at your dollar if this was a symmetrical triangle formation We're breaking out one side of the other right now. It's not had a proper close above it You can see we pretty much were inside the the pattern all night last night so I think today and Well today if you've got these ECB minutes coming out later on That will give and obviously Greece if you've got a bit of a more idea if this Loan extension is going to happen or not. You might be able to get some extra momentum on your dollar obviously there is a little bit of US macro data and Eurasian mac maco data due today, which could be the catalyst first to break out those ranges But if you look at your dollar has been flattening out for or since it's mid 2015 It's not done a huge amount even with all the fundamentals in the background. So GBPUSD breaking above one spot 54 24, which is awesome for cable as The minutes came out yesterday very quite positive for the UK and We are looking at one spot 55 One spot 56 as the next potential resistance with one spot 54 24 being a potential support level and certainly Bearing in mind last night we close pretty much on there and we're on there again just now Looks to be a lot of traders will be looking at this in the short term as well So we've already covered the equipment data for today fast forward on to Friday a large amount of European data You've got German PPI German PMI euros on PMI UK public sector net borrowing and retail sales So very European focused if you're trading your dollar the DAX or cable the food series These data releases are all important. Make sure you set your alerts on your market calendar So you don't miss any of these quite important updates and as ever keep your eye on the chart form Make insights part of your layer going forward and join me again tomorrow to find out what happened next