EUR/USD down 0.22%. Nikkei 225 lost 11% this week.

US dollar slightly strengthened today with EUR/USD pair closing the Asian session at 1.1290, which is 0.22% below the previous close.

According to technical setups provided by the technical strategy team at Barclays Capital, the yesterday’s “doji” candle for EUR/USD pair alerts a potential top. The analysts are bearish against resistance near the 1.1495 range highs. On the other hand they noted that below 1.1160 will point towards initial targets near 1.1060.

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Asian markets plunged today. Below is mentioned the performance of major indices:

  • Nikkei 225 plummeted to the low of 14,865.77 in the afternoon and after a slight recovery closed the session at 14,952.61, losing 4.84%. This is the lowest closing price in 52-weeks. The index has lost more than 11% since the beginning of the week.
  • Hang Seng fell by 1.22%, closing the day at 18,319.58.
  • S&P/ASX200 declined to 4,765.30 (-1.16%).


According to Masaki Uchida, the executive director of equity investment at JPMorgan Asset Management it is hard to find a bottom for stocks when the yen is strengthening this much, adding that it’s not easy to turn bullish on the market in the near future. “But the valuation of some Japanese bank shares is extremely cheap. So for long-term investors, it could be a good level to buy,” Uchida said.

Oil prices rebounded during Asian session today. WTI Crude was trading at $27.18, up 3.7% as of 2:55 AM EST. The Brent Crude was trading at 31.18 USD/bbl, gaining 3.73%.

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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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