 Hi, good morning and welcome to today's products and focus so very kind of interesting end to the FOMC session yesterday We're pretty much the statement although it was kind of dovish It wasn't as dovish as some traders were expecting now There was some acknowledgement of the rest of the market turmoil, but there was it wasn't really what they said It's what they didn't see so as far as the Fed is still concerned right now They still think they're gonna have those four rate hikes because it didn't even mention the tall in a statement That's four rate hikes in 2016 So the actual market itself is kind of pricing in two rate hikes probably starting in the Starting again, sorry in the second half of the year So we're not really expecting anything for the first six months of a 2016 Now equity markets sold off because some traders were like the FOMC are kind of burrowing their head in the sand a little bit They're not being quite active in dealing with the problem You have Mario Draghi on one end and he's like there'll be no limits to what the ECB are Are willing to do to support the eurozone economy and then you've got the FOMC kind of saying well, you know Things are not so great in the parts of the world We are acknowledging that some of our macro data results might not be as strong as expected But it's kind of business as usual because the the rate hikes are data-dependent as ever So equity markets kind of sold off not really that aggressively But they were they're definitely off the assessment session highs and interestingly we saw some big moves and crude Yes, they could actually finishing up more than 5% higher and what's kind of interesting is when you've had a slight decoupling So you've had crud going up and stock stocks going down and all sorts of talk about exactly what that is Kind of Russian oil companies rumored to be buying up lots and lots of oil That this move yesterday is going to be short lived But when we look at things from a technical perspective, I'll give you a bit of a flavor about where we are We're actually about 21% of the bottom of the of the crude oil market So some traders undoubtedly have been very very lucky the ones that bought another bottom and right now I think there's so much volatility that some traders are just staying away from crude because it's just kind of savage to trade It right now if it's got 5% swings that that's a big move especially if you're trading using safety's and spread bang etc So Let's have a look at things from a technical perspective and as ever we're gonna start off with the US 30 just just kick start things off Okay, so this is currently where we are now I'm probably going to redraw that and bring that to here And that gives us a level there of 15,904 75% of seems to Marcus clients are currently short and the reason I brought it to here is you can just see that from a candlestick perspective it seems to Be enjoying this level a little bit more oscillating around there now We have been lower than where we are this morning first thing We were actually below 15,904, but right now at the top end of the range far away from the top in the range that we had yesterday Just before the FOMC came out. So from a technical perspective The technicals are the indicators are pointing to people have more bullish momentum The fact that we're rejecting these session lows can be kind of interesting But we are making a series of kind of higher highs right here But we don't really want to see candles like this if we're looking to get further upwards momentum But we are already at the up-end of that trend So having a quick look at the UK 100 and Then family just quickly go to here for a quick second what you can see I'm just gonna go ahead and just draw some Technical patterns on here just to kick start things off. You are gonna be looking at the level right here You have the tip here and arguably in the very very short term you are looking at these levels right here So this is this is what most traders will be looking at run about 6000 and change the tips of these candles we try to break above there last night only to have a rejection We're almost back there just now if we broke back through 6000 and change the next potential resistance is all the way back at 6,300 So it has some significant moves if we fail to break through and we get retreat bad down You could be looking at 5865 in that regard the other technicals are relatively neutral at the moment And we do have 61% of seems to Marcus current clients are currently Long so moving on to Japan 225 And from the Japan 225 perspective, we are seeing things Kind of go up to the upside again get my drawing tools out There are certain kind of key levels here. You're obviously going to go ahead and take the tips from down here And when you look at things from this perspective, you also have to probably take the tip of this candle right here And you can just kind of see where we have been the last number of sessions is broken up through it Then push back down we're having another retest to try and break through that level just now Be interesting to see if we follow up that without much conviction then arguably you could go ahead and take the tips from here The tip of this candle could provide that next level of potential resistance. We're in about 17,675 Now we do currently have 65% of seems to Marcus clients are currently short So they're obviously expecting a little bit more pain to be had on the Japanese market Now if we have a look at your dollar Japanese yen, we're going to be kind of building this up from scratch again as well Looking at things from a longer-term perspective. We have been moving in the sideways move market for some time So let's go ahead and get some of our support and resistance levels on there So you would take the tip from there You'd also have your potential resistance right here and then look at things from a slightly shorter-term perspective You do kind of look at these levels here and you can see some very interesting patterns Just slowly evolving over time and where we are right now. We're actually above 118 so what it'd be interesting for us to do is you take this area here and that means we've still got a long way So if we do begin to see upwards momentum You are looking at 120 is being the next potential resistance and we're on the right side of 118 and change at the moment as well Okay, and 64% of seems to Marcus clients are currently short Moving on to crude all west Texas again building this up from scratch You can just see where we've come from map that when you scroll out you just really see the severity of that move So that in fact, I think we have to go on to a monthly chart to really appreciate some of the moves on here And this is where we are at the moment Right so get my drawing tools out there you'd be taking this tip here You'd be arguably looking at this level here And then the levels below that which we'll come back to in a second and the shorter term you can take that tip as well and this tip Okay, let's Cyclance that shorter time frame and get a chance to have a proper look of where we are So in the middle of two ranges arguably I think we can add another level right here Where you've had a tip of this candle in the downside and you've got evidence of a failure to break through 31 spot 40 68% of seems to Marcus clients are currently Short on this as well, and that's probably looking at this potential resistance level that could be kind of interesting If it begins to break above that you could be looking at a move back towards 35 Though you probably look at the tips of these candles down here as a next potential level move 34 dollars So if we finish up with golden in the FX pairs Again stripping this back and having a look at this from a basic technical perspective Well, let's look at some of the core levels here. We had a nice little technical break above here our next potential Resistance level actually is quite far away. It's kind of it's kind of hard to be able to pick another level You could you could take some of these tips here, but they're not even really that strong. I'm gonna put a level here To be honest, I think when you're looking at this from a daily perspective You kind of have to look at things in a much further way place Yeah, I think we could look here You could look at this tip here That could be your next potential level round about 1131 In fact, that is a strategic level to be able to be aware of we are trading between two ranges right now This is a bearish bearish and golfing pattern 74 percent of scenes your markets clients are currently long And then we've finished up with your dollar and GBP USD So your dollar again, I think we pretty much still in this descending triangle formation that we've talked about I'm just gonna Quickly manually draw this on here and see see what it looks like. It's not it Yeah, to be honest, it still is very much in in that kind of I think I've drawn this as a symmetrical triangle formation as a descending triangle formation before But you can easily get away with that being Symmetrical triangle formation now as well, which means it's not necessarily going to be a continuation pattern. It can of course be Could break out either either direction. In fact, the more I look at this the more that that you probably could easily argue This is a Symmetrical triangle formation so we're waiting for a break on this side or break on this side and your dollar Continue that we have talked about one spot zero weight a lot And even if we just look at some of these levels, I think this is why we considered it being a descending triangle formation before in The past is because you can probably take these levels. In fact, you definitely can take those levels as being potential support That's currently where we are 57% seems about your clients currently long and we're in the middle of that triangle right now I'll be finished up with GBP USD 59% of seems to market clients are currently short You cable has just been getting smashed as ever I'm going to quickly go into a weekly perspective to see if I can get these levels drawn on here And it just gives you an idea about how low we are. This is 2008 by the way So again get your drawing tools out You have been as low as here You Have not closed Below this level since 2010 And interestingly there's been a rejection of those levels on the downside Matter of fact cable has been working very very nicely for some of these technical levels for for some time Here it's been a bit harder because obviously we had the brakes We had the breakout through there and it didn't really follow through and you would take this area right here So that's pretty much the major levels on the weekly standpoint Let's cycle into the daily just so we can see exactly where we are and then I Arguably I take the tip of this candle and say one spot 43 51 is potential resistance One spot 42 20 is potential support and we're just a little bit off that range right now So that hopefully gives you a bit of an idea what to expect So just to finish up with some economic data announcements, we still have the Bank of Japan on Friday We do have UK GDP today CCI from the Eurozone CCI CPI sorry from Germany Joe Bougu is an employment data from the US Friday brings us CPI US GDP and the consumer Sentiment sorry the University of Michigan sentiment index and you also have the Bank of Japan there as well well guys Thank you very much for watching. Hopefully it's been quite interesting for you to see us building up the charts there from scratch and Join me again tomorrow to find out what happened next. Thank you very much and goodbye