 Hi, good morning and welcome to today's products and focus and for an interesting start to the weakest beam with most global equity markets managing to rally really really hard yesterday and they're still continuing that upwards momentum today. All eyes will of course be on crude oil price which is a shot up like a rocket moving higher yesterday and further again today on news of a secret meeting, apparently a secret meeting in Doha between Saudi Arabia and Russia. It's very very likely that not a lot will come from this particular set of meetings but you never know. So don't be on the wrong side of that move. It could be a little bit of a tough time today if you're currently short on crude and they come out with some sort of deal there to cut production. Highly unlikely but it's one of those things I'm not sure I would necessarily take that risk though most commentators and I said are expecting it not really to come to much because of all the competitive advantage aspects Saudi Arabia are still after more market share and it's all very very political at the end of the day. So there are also rumblings of the consequences of all this monetary policy decision-making by the ECB and what we're actually beginning to see now is that Bum Futures are beginning to accelerate higher. Now what's kind of really quite unusual about that is the actual acceleration higher in the Bum Futures in Europe is actually way higher than the moves we've seen recently in the DAX as well so for them to move to for them to kind of go in opposite directions like that is highly unusual and that could have further ramifications further on down the line unintended consequences and of course right across the world most kind of governments are involved in kind of talking a good game in regards to trying to weaken currencies and kind of play the market you know say we might do QE we might do interest rate cuts you're getting it just now in the UK as well with the last central banker or the last kind of member of the Bank of England's kind of moving away from his interest rate rise position and saying well actually I could even be looking at interest rate interest rate cuts and that's had a bit of an impact on the pound as well but again it's just all talk it's a bit of smoke and mirrors people aren't actually acting on this they're just hoping that their talk is enough to give the market that little bit of guidance because they really just don't want to act that's the problem and what we're kind of seeing right across the financial markets today is a little kind of breath of relief after last week's horrendous horrendous kind of sell-off and a lot of that's come down to the fact that China came back from their kind of Lunar New Year period there without an excessive sell-off you actually had the Nikkei jump about 7.2% that was yesterday so collective side of relief the thing is nothing has really changed not really there's not been some massive bit of macro data that's come out that's really just kind of transformed the whole financial markets so just be very very careful out there and don't get caught on the wrong side of any well-priced things but anyway that gives you an idea as to the common themes of the market I gotta say that a little bit of pessimism in regards to this current rally but you never know if things might keep on going but I'm a technical analyst from that perspective so we're actually going to go ahead and have a look at the core level so without further ado let's have a look at the US theory so this gives you an idea of where we are from a technical perspective we are trading above that 21 period SMA we're still miles away from any potential resistance on the US theory 76% of CMT market clients are short 16.4 60 is the potential resistance the other technicals are relatively neutral moving on to the UK 103 advancing soldiers right here with the three massive green candles there bullish crossover on the MACD we're trading above that 21 period SMA 78% of CMT market clients are currently short anticipating that this rally will will founder you might get short-term potential resistance at 59.47 and we're still in the sloping potential trend line down moving on to Japan 225 you can just see that huge move that we have yesterday albeit we are off the session highs obviously it's actually a holiday in America yesterday so that's why some of the some of the markets are kind of reacting slightly different this morning but nevertheless we do have we have been higher this morning on Japan 225 16384 again off the session highs this could look like there's a kind of a rejection if I move higher and we're getting closer and closer to that 21 period SMA 77% of CMT market clients are currently long so they're anticipating a further increase in Japan 225 we're also quite close to getting a bullish crossover on the MACD moving on to Japan to dollar yen very strong bounce almost a tweezer bottom there that we would have had on on dollar yen that was on on thursday and friday last week strong bounce again yesterday those information today were quite a good bit away from potential resistance at 16,067% of CMT market clients are currently short it's a tough one right now you're not really close to any potential resistance so dollar yen is not really that exciting at this stage it's all about west texas crude today of course because we do have this secret meeting in doha to look forward to we are trading above that 21 period SMA breaking above that looks to be we're taking our head just above this potential sloping negative trend line other technicals are relatively neutral but obviously if the fundamentals come out you would be looking at a 33 at the tip of that candle 33 34 you could be looking only at 35 and things were really crazy today but there would have to be some sort of major deal breakthrough between russia and sardine arabia for that to happen but obviously the markets are not taking any chances in case that does moving on to gold gold had a spectacular fall from grace after this massive move to the upside right there as kind of risk on kind of returns to the market so it sold off really aggressively three but three black crows may be coming here but a perfect bounce of 1191 which is the high there in october to where we are right now this could be a very strategically important level if we break if we close if we break and close below that you might be accelerating towards the 31 period SMA or failing that 1131 that's currently where we are on the yellow metal very very interesting one to trade 71% seems market clients are currently along moving on to euro dollar also having a strong reversal as Mario Draghi comes out again to say he'll do whatever it takes to support the euro's economy and that includes lots of QE blah blah blah blah euro of course reacts completely on his words because some traders just don't take just take what he says for granted without any action so he's happy with that 1000 sorry one spot 11 0 5 as an exponential support level 75% of seems markets clients currently short they obviously think that drag his voice is enough to drag this bag down we are seeing a little bit of an increase in the US dollar strength as well but since we broke out this triangle formation the euro had catapulted higher and now it's treating that down but one spot 11 0 5 is a strategic level to watch and then finishing up with GBP USD 80% of our clients are currently long kind of interesting areas here if you've got that it's consolidating quite close at 20 year old period SMA but also close to one spot 43 52 there has been a rejection of breaking above one spot 45 65 you can just see it right there multiple times just tried to break through and it's been unable to do so so let's finish up with having a quick look at the market calendar what is well you don't want to if you're trading euro dollar you don't want to forget about a ZDW business report okay you do have CPI from the euro from the UK tomorrow you've got employment data from the UK housing starts and posture production from the US and then on Thursday you've got Chinese CPI employment claims from the US and of course you won't forget about the the weekly petroleum sales which are actually coming on a Thursday rather than a Wednesday but that will that will change over the next couple of weeks and we might as well have a quick look at Friday as well UK retail sales US CPI and finishing up the week with consumer confidence flash CCI from the eurozone so certainly that hopefully gives you better than ideas to the common themes in the market very good luck with your trading guys and join me again tomorrow to find out what happened next thank you very much and goodbye