Key Levels and US Market Review for the Asian session open 3/08

US and European markets came under fire and took a hit in a risk off move after US credit was downgraded. Traders and investors are looking at the bigger picture now as a lack of confidence into the US government as they distract themselves from the bigger picture of actually managing the economy. With a safe haven move up into the USD and and unwind into an extended share market, we could see this move down gather some momentum especially if US employment does not come out positive on Friday.

Expecting a weak open in Asia with the ASX200 to open down 60 pts, the Nikkei to open down over 300 pts and Hang Seng to open down 130 pts.

Traders will be keeping an eye on coming employment data in the US Friday and whether the negative sentiment over the US credit downgrade gathers momentum.

Some KEY ACTIONABLE LEVELS into the Asian market session. Review of the European and US sessions and what that will mean to the price action in the near term along with key levels to watch.

Markets covered :-
DOW
Nasdaq
DAX
FTSE
ASX200
Hang Seng
USD Index
Gold
Oil
Copper

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