 Hi, good morning and welcome to today's products and focus so the friend and the Fed didn't raise rates last night And kind of a statement that came out afterwards was putting the blame on the kind of the global slowdown And citing China as a potential factor on there So many analysts and the kind of money markets probably pricing in again a 50-50 chance that we could have a rate hike in December But a lot of people are putting their stock into March 2016 now as the first rate hike Markets initially spied higher as they had been priced into certain extent I think maybe 30% chance that it was going to raise that they're going to raise rates That quickly got taken into the market that pushed equities that little bit higher hurt the US dollar but then kind of the the kind of the effect started to fade in where the global economy is obviously not doing as well as As a federal of light and the markets of I was taking that to be a bit of a negative signal for the for the short to medium term And that caused an immediate Sell-off so if you actually have a look at the major indices in the short term You had a big spike up and then maybe just a few few minutes later It then started to drop back down again, and this is a particularly ugly candle to have near a potential resistance on the US 30 at 17 or 34 and It's not even like a kind of a graveyard doji formation This is a kind of an unusual pattern to have but it would be seen as a strong technical reversal signal And we've not seen much follow-through so far today with most that mark is pretty flat this morning Certainly the tip of this candle will be potential short-term resistance and couple so close to this potential resistance 17,000 and change is is going to be a tough one to beat The other technicals are all relatively neutral There's not a huge amount of other technical macroeconomy dated you out today So I'll be interested to see a things finish up by the end of the session as people now look to China specifically because it was mentioned during the during the Fed statement for more clues as to the Fed's next intentions So actually having a look at today's data. There's not a huge amount I've gotten to the habit now over the weekends of always checking Saturday Sunday of which there's nothing But don't don't forget that there can be Chinese data on a Sunday or a Sunday And that can have quite a bigger ramifications. So always check your market calendar Every Friday just to make sure so Monday you've got German PPI and you've got US existing home sales That's your first bit of data That's gonna have any significant impact on the markets So having a quick look at the US at the UK 100 bearish engulfing pattern We are having resistance at 62 96 We're just going to negative territory right now quite close to that 21 period SMA other technicals are relatively neutral I would probably argue that you could get away with Starting to draw these trend lines because you might actually have a well that would be an ascending triangle formation But we're a good bit away from there right now, but In the middle of two ranges so 60 73 potential support 62 96 as potential resistance So then looking at Japan 225 As down as well similar candle formation to the US 30 failure to break through 18,000 648 Tridden below 18 306 with 17 496 be the next potential support other technicals are relatively neutral We did have a bullish cross on the MACD, but that seems like maybe about a week and a half ago And things have certainly moved on since we've got the Fed decision out of the way So looking at a dollar yen the dollar losing momentum I think a dollar of dollars lost a lot of Strength first of the Japanese yen one. You've got Japanese yen uncertainty But secondly, you've got the US dollar Losing value because a lot people were thinking December for that next rate hike before If October of September, sorry didn't actually happen But now a lot more people saying well, maybe things are not quite so good They took it as quite a dovish statement and maybe it's gonna be March 2016 So that's definitely taken a lot of momentum out of the US dollar And I can see versus sterling in the euro. They're making some decent gains Against the against the USD. So from the candlestick formation Psychology point of view looks to be 119 is next potential support level and there is a bit of momentum behind that Trading blow both moving averages almost got a bearish cross on the MACD and the other technicals are relatively neutral So that we could US dollar would normally be positive for commodities But then you've got global slowdown again being cited and we had we had some great sessions on crud on Wednesday News that there was bits in the ground US bits in the grounds and Syria As ever it gets very convoluted in there right now with the Russians in the in the US That caused a big spike up in West Texas crude And then we've kind of drifted in last couple of days So the dollar loses momentum. We should be positive for West Texas But also global slowdown fears that's not a positive So there's definitely a little bit of pressure on there today. We're at the bottom end of the range 45 85 is the next potential support level Gold has had a good couple of days as that as FOMC decision came out Gold should think we'd be actually be doing a little bit better even today I had a good day set a good day yesterday should be doing a bit better today Bear in mind that industries might be delayed for a little bit longer in the US and the US dollar's going down And it's a safe haven against uncertainty If you're tagging your census rates to the strength of the Chinese economy And you kind of put them in the driving seat them safe havens pretty good Japanese yen should be good And gold should be good if risk off is firmly back on the table And the markets aren't doing a huge amount this morning. Maybe towards the downside We might see a bit of acceleration But maybe it's going to be the Japanese yen that a lot more people are going to go for So dollar yen We'll be interested in one to look at gold doesn't really be that Excitable considering rates could be delayed for a significant couple of months anyway But 1137 is the potential resistance to be aware of and we finish up the GBP USD and euro dollar As you see the euro show up as US dollar lost loads of strength There's more than 1% move one spot 1475 is potential resistance We might have a little bit of a retracement today And then if we get some decent eurozone data or some weak US data, we may have a re-challenge one spot 1475 And if we finish up with GBP USD great couple of days again potential resistance one spot 56 holding tight Or above both moving averages crossover in the MACD other than the cause of not yet over But um, so we might have a re-challenge one spot 56 and then a look at one spot 5743 should the MACD data come in quite good So as ever guys, keep you on the chart form make insights part delay going forward and join me again on monday to find out what happened next