Stock markets sunk on Friday following the Feds decision on Thursday to leave interest rates unchanged. Concerns over the global economic growth were fuelled following Janet Yellens press conference which highlighted that recent events had perhaps influenced the Feds decision.

This morning in Asia, market sentiment has continued to follow suit, and it seems now that investors are bracing themselves for possible further stocks downside.
EURUSD hit a high of 1.1459 early on Friday but is now trading around the 1.1300 following the selloff later in the day.

Gold completed its 3rd consecutive day of gains on Friday reaching 1141.57 at one stage, as uncertainty gripped the global markets.

Oil, currently at $45.58, remains in a range but traders should watch out for manufacturing data from the Eurozone on Wednesday.

Today in the Eurozone, we have no major news although at 14:00 GMT we have existing home sales from the U.S.

Trading quote of the day:

“You don`t need to be a weatherman to know which way the wind blows”

– Bob Dylan

EURUSD
Pivot: 1.1355
Likely scenario: Short positions below 1.1355 with targets @ 1.1265 & 1.124 in extension.
Alternative scenario: Above 1.1355 look for further upside with 1.139 & 1.141 as targets.
Comment: The RSI is bearish and calls for further downside.

GBPUSD
Pivot: 1.559
Likely scenario: Short positions below 1.559 with targets @ 1.549 & 1.545 in extension.
Alternative scenario: Above 1.559 look for further upside with 1.566 & 1.572 as targets.
Comment: The RSI is bearish and calls for further downside.

AUDUSD

Pivot: 0.72
Likely scenario: Short positions below 0.72 with targets @ 0.714 & 0.712 in extension.
Alternative scenario: Above 0.72 look for further upside with 0.723 & 0.7275 as targets.
Comment: The RSI is bearish and calls for further downside.

USDJPY
Pivot: 119.65
Likely scenario: Long positions above 119.65 with targets @ 120.1 & 120.4 in extension.
Alternative scenario: Below 119.65 look for further downside with 119.35 & 119 as targets.
Comment: A support base at 119.65 has formed and has allowed for a temporary stabilisation.