EUR/USD down 0.14%. Nikkei 225 posted a 5.4% decline.

EUR/USD closed the Asian session at 1.1181, down 0.14%, failing to break the 1.1238 (near the yearly highest point) level in the afternoon. The pair finds the immediate resistance at 1.1246/50 (Feb 5 High), and if it breaks it, the rate will move towards 1.1300 areas. On the other side, the immediate support is found at 1.1184/80 (Daily low/5-DMA). If the rate breaks this level, it will move down to 1.1164/50 lows.

Most Asian markets are still closed today on holiday. Among the most important indices from open exchanges are Japanese Nikkei 225, which plunged 5.4%, Australia’s ASX/S&P 200 losing 2.88%, and India’s Sensex, which was trading 1.30% below the previous close as of 1:03 PM IST.

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Nikkei 225 closed at 16,085.44 (-5.4%), after hitting the daily low of 16,025.94, reaching almost the 52-week lowest price (Jan 21 lows). The USD/YPY was down more than 1% in the afternoon trading, dropping to its lowest price since November 2014. Moreover, the 10-year Japan government bond yield sank below zero for the first time.

Oil prices opened higher today after they were down for three days in a row on continuous oversupply fears. WTI Crude opened at $30.17 but gradually declined to $30.02 (as of the end of Asian session), which is 1.11% above the previous close. Brent Crude was trading in a range of 32.65-33.40 USD/bbl. As of 02:21 ET the price stands at 32.94 USD/bbl, up 0.18%.

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I’m a finance specialist with 4+ years of working experience, out of which 2 years as a SME relationship manager at Byblos Bank and 2 years as a Finance Director in a Food & Beverage sector. My academic background include BA in economics, MA in finance, CFA Level 1 and F1, F2, F3 level of ACCA. I’m also experienced in Forex/CFD trading and Forex/ Equity markets analysis.

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