 Hello, good morning. Hello. Good morning and welcome to today's producing focus most global equity markets are actually just ever slightly off their Friday highs there, even though we did have some very disappointing Sentiment data come out of the US another big mess across there, but still not dampening much spirits over there on the US there in particular Pretty much just stop dead in this tracks and a historic all-time ever high 18,200 for we do have a slight retracement this morning, but nothing too too strong and More news out of China that the property market over there has had has fallen for its six consecutive month and you know, there's more calls for more stimulus and Government support there, but now that in itself isn't damning the spirits of most most global indices The US there is another prime example of this trading all-time highs Or near all-time highs even though a lot of the Mac quick and the data coming out has been middling and mixed at best so a lot of people questioning if it's still possible for US earnings to be as Strong to justify these valuations. So we won't have to wait too long to find out So looking at the UK 100 the kind of candlestick formations that you have here at the top here indicative of a Lot of pressure a lot of weight there again near historic highs Dodgy formation there on Friday. We're trading in between two moving averages just now I'm reflecting out close to 69 at 64 the RSI and the slow stochastic are both quite neutral And it's only the MACD that slowly began to penetrate the zero line But it's not yet completely crossed through it just now But we've been so volatile last couple of sessions you can see the tips of these two candles right here comes with a 200-point range So there there is a lot of volatility still to be had right here But certainly pressure looks like it is beginning to multiply on that market. So looking at Japan 25 dollar yen pushing back up towards 120 still at 119 as ever But it's helping to Japan 25 build up some momentum for it to be able to potentially tackle 20,000 and 87 We've got a bullish crossover on the MACD the other technical indicators are neutral But the MACD you should be looking at if this uptrend is still in play, which looks like it that it is again potential head and shoulders formation developing right here But we suddenly get a twist down the break of this upwards trend line that could be seen as As quite a strong technical breakout Obviously things are moving on the upsides just now trading by both moving averages the 21 and 55 period So looking at dollar yen Again, not really that exciting 119 is a pivot point right here 121 87 is a longer term potential resistance so it's at the country They're almost completely useless at this stage because it hasn't crossed any of these Overbought or oversold indicators for quite some time Might actually be quite good to trade if you're looking at this and a slightly shorter time frame if we just have a look at it See on the four-hourly It does follow quite interesting wave formation though We'd be in the middle of our potential wave just now I guess if you to get your drawing to allow and look at the tips of these candles and I can have a descending formation We are a good bit away from any potential opportunity there right now, but Dollar that's probably the only thing a dollar yen that looks remotely interesting is trying to play those waves So moving on to West Texas crude so More advance is made by Isis in Ambar province in Iraq continues unrest in Yemen and Libya ports are still under siege by our militias And that's helping to provide a little bit of short-term support for West Texas crude Still trading above 5950 iron up 64 dollars the next potential resistance We had a hammer formation yesterday on Friday after a sell-off. That's usually seen as quite a positive technical signal We've had a little bit of follow-through this morning. You might have short-term spike up first thing this morning and UK 10 So we'll have to wait and see how things pan out. Obviously got cruel on the turries on Wednesday and the dollar is Making some headway actually the sterling's gonna reverse course come back to that the second So keep your eye on the dollar when looking at commodities. So we're talking about gold quite a lot Each bit of economic data comes out of the US that is is pretty rubbish to be honest is net positive for gold weakens a dollar Really scales back the prospect of an interest rate hike in the US This year, I think you almost everybody now is saying 2016 at the earliest if it's even then to be completely honest And a big spike up or continue to see it right here goals being a doubt in the dull drum for quite some time We are in the middle two ranges right now, but looks to be that 1242 is an x potential resistance and reversal and 1218 remains a potential support So let's finish up the real dollar GPUSD your dollar Really beginning to build up some momentum itself as well one spot 1642 is an x potential Resistance it really looks like we've broken out of this down west trend line. We've been in for Well, it's almost been about a year. Maybe about nine ten months Bullish crossing and moving on the moving averages obviously technical indicators massively overbought already It really depends now because The US data has been coming in so much each piece that comes in that misses expectations I think the Americans could actually really do with the dot with the dollar began to weaken ever so slightly So I wouldn't be surprised if a huge amount of economic data ends up being skewed to be middling to negative for the next couple of months Burying my office the economy is looking to be slowing down Evaluations of the of the equity markets in depending a completely different story to the reality of the facts that are coming out from the Fed And all the other Institutions in the US that dictate a lot of this macroeconomic data results So I wouldn't be surprised to see the euro tick up a little bit higher Depending how those macro data announcements continue to trickle out. So looking at GBP USD I think the sell-off that we've seen here is more indicative of profit-taking after an unbelievable push to the upside One spot 5743 was potential support. We're on the wrong side of that just now So you know if we do sell a bit more and we could do with a little bit of pressure coming at this FX pair One spot 56 is the next potential support level. So economic data wise Nothing today tomorrow. We've got a huge amount of UK data if you trade in cable It'd be quite an interesting one to look at CPI PPI eurozone CPI be good for your dollar as well ZW business report good for your dollar. Make sure you got your alarms your alert set for that as well That's a very important one And if you go into Wednesday, you've got again German PPI and you've got the NPC Bank of England minutes Which should be quite interesting. I'll be it You know, they're obviously not gonna be waiting much anytime soon And then you've got cruel inventories. So Wednesday promises to be an interesting day. So as ever Tuesday and Wednesday Keep your eye on the chart forum for more setups from our global analyst team Make insides part of your layout because there's obviously lots of cool stuff that comes from our global teams as well And join me again tomorrow to find out what happens next