 Hi, good morning, and welcome to today's products and focus and what's been happening over the last week? Well, you had the ECB there on Thursday basically coming out with with some extra work there to try and support the eurozone a Little bit of defense for the banks to tackle negative interest rates She's been hurting their profitability, but certainly not a big enough the change there to really ramp up That section of the world economy the euro's not really done a huge amount I think initially you had a little bit of a drop-off as it looked to be that Mario Draghi was actually going to do something of significance But then when most commentators actually looked at the detail Off of that stimulus they came to realize actually they're still holding quite a lot back And the ECB still has a number of silver billets that they're not wanting to use right now So not a huge amount has happened the German Dax has really struggled to break above 10,000 initially really really sold off their Med week on that on the back of that news only then to kind of recover Back towards 10,000 so far today now a little bit away from there just now But there still seem to be a little bit of psychological pressure at that point as well Which it needs to get broken the American markets have been doing that that a little bit better actually trading above 17,000 Matter fact the US 30 when we have a look at the charts there in a second It's been slowly grinding up higher and higher some decent macro data coming out of that of that part of the world Non-famperels obviously when it came out there got a week and a bit ago was a little bit better than expected I wasn't like all guns blazing instantly, but still it was it was decent And you've actually got a huge number of central bank meetings this week You've got the SMB you got the Bank of Japan and Fed all with that with statements due later on this week So that would give traders a lot more idea as to actually what's happening in the markets as well crude oil as well Has been performing quite quite well Managing to stay a little bit close to that to that $40 mark questions Has it actually reached a bottom at the moment? Just at a time when oil rig exploration is that the laws has been in years and The number of oil and gas companies in the US that are going bankrupt It's looking to begin to to accelerate. So is it too little too late? Well, we'll have to wait and see what happens So that gives you better an idea regarding the fundamentals. It's all about the central banks this week And obviously the ECB has already Acted earlier on on Thursday Albeit not in such a strong way. So that gives an idea about the fundamentals Let's have a look at things from a technical perspective. Okay So this gives you about an idea of where we are on the US 30 So this is where we were and you can see we had a technical break out there on on on the Friday You can see the volatility we had on Thursday after that ECB meeting that came out. So lots and lots of indecision initially move down and then move back up and then move Pretty much close exactly where we're open and then a little bit more confidence there on the on the Friday Not a huge amount fall through already this morning slow stochastic massively overbought the MACD Histogram is slowly declining It looks to be that that 17,000 in 37 Could be short-term potential support if we do get a little bit of a drift down lower Where do we take that line from of that was from all the way back in December and January last year And that'll be interesting to see if that manages to provide Additional support going forward some two percent of CMC Mark's clients are currently short a longer term potential resistance Well, you would potentially be looking for the tips of these candles right here and further on beyond 18,367 so US 30 actually looking quite resilient considering all the potential problems in the world economy Moving on to the UK 100 you can just see where where that negative candle came in there on the Thursday Proper rebound on the Friday failure to break above the tips of these candles Listen ticket of a more selling pressure that tries to get above 6,260 70 could provide potential support They also coincide with that 21 period SMA 52% of CMC Mark's clients are currently long showing lots of indecision and that's not surprising When you're about a third of the way between a range So two-thirds movement up to the top one third movement down to the bottom and the fact that you've got these longer candles here It's gonna spook some traders You might be looking at a long side So I'm moving on to Japan 225 and you can see that we had that that decent break higher there again on Friday It's moved a little bit higher so far this morning 16658 is longer term potential resistance. We're in the middle two ranges again right now We're overbought in the slow stochastic and the MACD histogram Let's begin to accelerate a little bit higher actually So be understanding to see where the slow stochastic goes next any drift you could be looking at six eight ninety six a potential support moving on to Onto dollar yen a dollar yen is Not really doing huge amount again pretty in between two ranges 116 and 111 Spot 61 you've got a higher a lower high a lower high So it's beginning to make a series of lower highs right here, and you might have thought this was a double bottom there It's not really jumped that much higher with any kind of vigor We had decent day there on Friday lots have been decision again on on Wednesday because I ECB Stimulus measures that were announced and it's not really a huge amount today again either So 56% of seems to mark clients are currently along so then moving on to West Texas crude and you can just see that we're actually At 37 spot 42 so not quite yet 40 But we're getting a little bit closer to there as time goes on slowly grinding up a little bit higher 73% of seems to mark clients are currently short Anticipating perhaps a move back down towards potential support at 35 spot 13, which is a level From quite some time ago. I think we actually have to go back on to our weekly charts to have a look at that Yeah, you can get a bit of an idea about how significant that level was once it was broken So even the weekly charts, you can see that's a decent technical breakout I guess the question is about where it's going to go next But you guys will know the psychological run number of $40 will likely be where this might look to to go just now So that would pretty much pretty much put put it in between two ranges So 35 spot 13 and $40 of that was the case and obviously seems to mark clients are believing This is going to run out of steams and rather than later. The question is what do you guys at home think? So looking at gold We did have the break of this potential triangle formation. There was pretty much not gone anywhere Looking at the tips of these candles is indicative of selling pressure around about 1280 And that's obviously looking to be quite tough to break through You can see on Friday it failed to break the little bit higher the ECB Day it was obviously quite positive for gold not a fall through it was higher actually It did have a technical breakout actually, but was unable to capitalize on that and got pushed all the way back down again So that's currently where we are on gold and they're finishing up with your dollar and GBP USD So the Euro has had quite an interesting time So on Thursday initially it went down only to then rally up quite strongly towards the towards the end of that session As it became apparent the stimulus wasn't really, you know that that stronger stimulus For the euro itself more so protection for the banks And you could just see it the the magnitude of that move dropped all the way back down to one spot to 0-8 Bound to stop that level Beautifully, and then shot up that little bit higher now. It's not fall through again from on Friday It's not fall through again today You could be looking at one spot 11 as a potential support level and this is for Your dollar gets a little bit more interesting for a number of traders again a 1% of some seems to be markets clients are currently short finishing up with GBP USD Sterling's slowly getting a little bit of momentum Breaking above one spot 43 52, which is good. I also managed to break above that five-period SMA It managed to just close above it there on On the Friday again, not much happening first thing this morning 96% of seems to markets clients currently short The fact that you've had this this this jump here from one spot 41 is significant The fact that it failed to capitalize and break that higher and got pushed back down there on Friday will be interesting to some traders I wouldn't be surprised to see it hug one spot 43 52 For a little while until it figured out what it's doing a number of other technical indicators are relatively neutral And I think you'll be looking for more updates from the Fed Later on this week to figure things out. So my fact we go to market pulse and have a look at the market calendar a Lot of those meetings aren't actually on the calendar itself But you can get by the idea that on Tuesday got retail sales in the US on Wednesday You've got employment data from the UK CPI from the US housing starts industrial production weekly petroleum stats And then you've got that Fed policy decision. That's that. This is seven o'clock UK time And that just gives you a bit of an idea of of what what to expect Very very interesting movement that you've got that you can expect after the end of the session So that's really really big one. We don't want to go ahead and miss that one Then you've got CPI on Thursday and the UK Interest rate announcement as well on the 17th and employment claims and then on Friday You've got the consumer sentiment. Sorry be University of Michigan as well So what's not on there as the SMB and obviously the Bank of Japan? So make sure you keep your eyes peeled for those, but it's really all about the FOMC They're on Wednesday that comes with it with a statement that could be very interesting for a number of traders Well, that's it for me guys. Thank you very much for watching for good luck with the trading and join me again tomorrow to find out What happened next? Thank you very much and goodbye