The European Central Bank President Mario Draghi warned from the damage of the decline in economic activity of the manufacturing output in Europe.
Draghi said the central bank must ensure that the goals he has set, for example ,keeping the inflation target will be achieved.

Germany export rate for April was unchanged , better from the forecast of a decline of 0.6%.
On the other hand, the country imports was down by 0.2%, versus an expected increase of 1.2%.
In general, Germany trade balance was better than expected, which explains the strengthening of the Euro, which makes it difficult for stock exchanges on the continent.

EUR/GBP

The main trend of the pair is an uptrend.
We can try and ride on this main trend by an entry on a lower time frame.
On an hour chart we can see the diagonal support line together with a bullish engulfing pattern that was created.

For Forex traders:
Buy between the levels of : 0.7850 – 0.7880.
Stop loss point : 0.7830.
Take profit point : 0.8270.

For Binary options traders:
A call option between the levels of : 0.7850 – 0.7880.
Expiry time : June 17.

The gold continues to climb

Yesterday the gold recorded a strong increase of 1.2%, at this time this morning ,the gold is trading a slight increase of 0.2%, around the price level of 1264.5 per ounce.

Canada building permits for April are below the early forecasts, with a reading of 0.3% compared to expectations of 1.6%.

A positive opening is expected on Wall Street

Wall Street futures signaling on a positive trend at the opening of the trading day in the US, in contrast to the negative trend in the European stock exchanges.

The price of oil is at the height of 8 months and it based above the level of 51 dollars per barrel.

IBM

The price of the stock plodding at a range of a strong resistance area, around the level of 153.50, as seen on the daily chart.

Over the last few days, the histogram of the MACD indicator is sloping downward, and creates a bearish divergence.

For Forex traders:
Sell between the levels of : 153.50 – 153.30.
Stop loss point : 153.95.
Take profit point : 149.00

For Binary options traders:
A put option between the levels of : 153.50 – 153.30.
Expiry time : June 17.

UK industrial and manufacturing production data reveals that the manufacturing sector activity unexpectedly jumped in the sharpest rate in almost four years.

The manufacturing output in April rose by 2.3% versus an increase of 0.1% seen in March.

The GDP reading in Japan to the first quarter has been corrected, and showed a growth of 1.9% an annual rate, compared of 1.7% as reported earlier.