GBPUSD Technical Report and Signal for Thursday, December 11 2014

Technical Report

SUMMARY:

The secondary trend of GBP/USD is bearish, it is sustaining below the falling trend line & expected to give breakout at upside. Prices are taking support of 200 SMA & 30 DMA , consolidating with a positive bias. 1.5770 is a important level and breaching of it can show upside movement to the levels of 1.5820. MACD line is sustaining above the zero line, which is also indicating the positive sentiment in the market. RSI is also supporting the same. 

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STRATEGY:- 

For Today, GBP/USD is looking strong on chart. We can expect positive side movement for this session. One can go for buy on dips strategy for this pair for intra day to mid term positions.

Technical Chart

 

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.2300	1.2330	1.2389	1.2419	1.2478	1.2508	1.2567
GBP/USD	1.5591	1.5618	1.5667	1.5694	1.5743	1.5770	1.5819
USD/JPY	114.83	116.27	117.04	118.48	119.25	120.69	121.46
USD/CHF	0.9578	0.9619	0.9642	0.9683	0.9706	0.9747	0.9770
AUD/USD	0.8183	0.8222	0.8269	0.8308	0.8355	0.8394	0.8441
EUR/GBP	0.7852	0.7867	0.7894	0.7909	0.7936	0.7951	0.7978
USD/CAD	1.1368	1.1399	1.1441	1.1472	1.1514	1.1545	1.1587
NZD/USD	0.7529	0.7594	0.7703	0.7768	0.7877	0.7942	0.8051

UK Stock Market Technical Analysis

British banks were in the money on Friday as positive job news across the Pond revived the prospect of a US rate hike in 2015. The FTSE fell initially during the course of the week, but found enough support near the 6650 level to turn things back and closed on positive note at 6742 .The market is facing resistance from the level of 6780 and any pull back is a buying opportunity.As index is forming strong pattern for further buying, crossing of resistance level can test the level of 6900 with the support of 6600.

TOP GAINER

Name	Close Price	Change %
Kingfisher	328.2	3.21
Vodafone Group	230.6	3.11
Schroders Nvtg	2171	3.04
Barclays	249.45	2.8
Carnival	2805	2.75

TOP LOSER

Name	Close Price	Change %
Bhp Bhilliton	1474	-1.73
Bg Group	907.5	-1.7
Next	6655	-1.48
Rio Tinto	2898	-1.21
Anglo American	1268	-1.21

Fidelity European Value Plc

Technical Chart

RECOMMENDATION BUY

TARGET 170

The major trend of Fidelity European Value Plc is bullish and it is showing strenght for upside and manages to sustain above the trend line.For upcoming session stock is looking strong on charts and facing resistance from l65 level crossing of it can show upside movement and can test the level of 170 with stop loss of 160.

CHART FORMATION:-

Stock has looking strong on charts and Flag pattern crossing of neck line can show upside movement.

It's trading above the 50 DMA and200 DMA crossing with positive bias.

INDICATORS:-

RSI is trading above the 50 level and showing consolidation , crossing of 60 level it can test the level of 70.

Macd & Signal line is trading above Zero level line with positive bias.

Travel and Retail sector jumped, UK Market ended flat.

A slight recovery in oil prices wasn't enough to ease the pressure on the energy sector on Friday, though stocks in London erased losses by the end of trade as shares in the travel and retail sectors jumped. London's FTSE 100, which hit a low of 6,667.08 in morning trade, finished more or less flat, falling just 0.01%to 6,722.62. The FTSE fell during most of the week, but found enough support near the 6675 level to turn things back . It is expected that market will go to 6900 level, which proving to be major resistance level with the support of 6400 level.

TOP GAINER

Name	Close Price	Change %
Carnival	2820	4.56
Kingfisher	312	3.41
Dly Mail & Gen Tst A	842	3.31
Vodafone Group	233.95	2.9
Imperial Tobacco	2960	2.46

TOP LOSER

Name	Close Price	Change %
Bg Group	902.4	-8.55
Bhp Billiton	1517	-3.19
Anglo American	1321.5	-2.26
Smith Group	1157	-2.12
Rolls-Royce Hldgs	842.5	-2.03

Drax Group Plc Ord

Technical Chart

RECOMMENDATION BUY

TARGET 652

The major trend of Drax Group Plc is bearish but it is showing strenght for upside and from last few trading it is not managing to sustain at lower level and closing with positive bias.For upcoming session stock looking strong on charts and facing resistance from 200 DMA crossing of it i.e. 612 show the level of 652 with stop loss of 599.

CHART FORMATION:-

Stock has looking strong on charts and forming flag pattern crossing of the neckline can give the target of pole.

It's trading above the 50 DMA and facing resistance from 200 DMA crossing of it can show upside movement.

INDICATORS:-

RSI is trading above the 50 level and showing consolidation , crossing of 60 level it can test the level of 70.

Macd & Signal line is trading above Zero level line with positive bias.

EUR-JPY Technical Analysis and Trend

 

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.2390	1.2411	1.2423	1.2444	1.2456	1.2477	1.2489
GBP/USD	1.5544	1.5573	1.5593	1.5622	1.5642	1.5671	1.5691
USD/JPY	118.52	118.61	118.73	118.83	118.95	119.05	119.17
USD/CHF	0.9640	0.9649	0.9664	0.9673	0.9688	0.9697	0.9712
AUD/USD	0.8362	0.8395	0.8417	0.8450	0.8472	0.8505	0.8527
EUR/GBP	0.7943	0.7949	0.7957	0.7963	0.7971	0.7977	0.7985
USD/CAD	1.1406	1.1417	1.1435	1.1446	1.1464	1.1475	1.1493
NZD/USD	0.7721	0.7755	0.7774	0.7808	0.7827	0.7861	0.7880

Today's Chart: EUR/JPY (HOURLY )

EUR-JPY Technical Chart

SUMMARY:

EUR/JPY is in consolidating range, the pair is sustaining on the falling trendline with a negative bias, if it breaks the trendline at 147.98 levels, we can expect it to test the level of 147.75/147.51 downside. Prices can come down to test 200 SMA supporting the downside movement in the pair. RSI is sustaining in selling territory indicating the bearish sentiment in the market. MACD line is also about to break the zero line, supporting the same.

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STRATERGY :- For Today, EUR/JPY is looking weak on chart. We can expect downside movement for few upcoming session. Forex traders can go for sell on higher level strategy for this pair for intra day to mid term positions.

AUD-CAD Forex Technical Report

Daily Technical Report

Pivot Points

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.2429	1.2466	1.2502	1.2539	1.2575	1.2612	1.2648
GBP/USD	1.5530	1.5580	1.5637	1.5687	1.5744	1.5794	1.5851
USD/JPY	116.38	117.05	117.63	118.30	118.88	119.55	120.13
USD/CHF	0.9498	0.9524	0.9555	0.9581	0.9612	0.9638	0.9669
AUD/USD	0.8494	0.8529	0.8573	0.8608	0.8652	0.8687	0.8731
EUR/GBP	0.7905	0.7937	0.7964	0.7996	0.8023	0.8055	0.8082
USD/CAD	1.1186	1.1237	1.1268	1.1319	1.1350	1.1401	1.1432
NZD/USD	0.7745	0.7775	0.7823	0.7853	0.7901	0.7931	0.7979

Today's Chart: AUD/CAD ( HOURLY )

Technical Chart

SUMMARY:

AUD/CAD is in consolidating phase, in its hourly chart prices are not sustaining at lower levels & consolidating with a positive bias. If AUD/CAD breaks the level of 0.9780 & sustains above it then, can come up to the levels of 0. 9820 in today's session. Prices are taking support of 30 DMA & can come up to test 200 DMA. RSI & Stochastic is also supporting the buying for intraday positions.

STRATEGY :- AUD/CAD is looking strong on charts. Indicators are also supporting the same. One can go for buy on dips strategy for this pair for intra day to mid term positions

UK Stock Market Last Session's Overview

London Stock Exchange

London shares closed comfortably in positive territory on Tuesday on upbeat economic news and strong corporate results.The FTSE 100 Index closed 37.16 points ahead at 6709.13 as UK house prices reached a new high in September, according to data from the Office of National Statistics (ONS). The FTSE as you can see broke higher during the course of the day on Tuesday, breaking the level of 6700 For upcoming Session market is bullish, and short term correction is expected. It can go higher and probably aim for the 6900 level,with the support of 6600 .

TOP GAINER

Name	Close Price	Change %
Tullow Oil	475	3.01
British Sky Broadcasting Group	890	2.52
Randgold Resources Ltd	4428	2.44
Sports Direct International	651	2.32
Burberry Group	1586	2.07

TOP LOSER

Name	Close Price	Change %
Rio Tinto	3004	-1.77
Reckitt Benckiser Group	5230	-1.69
Ashtead Group	1048	-1.6
Standard Chartered	924.2	-1.29
Easy Jet	1525	-1.23

   Stock pick of the day : Tesco Plc

RECOMMENDATION BUY

TARGET 210

The primary trend of Tesco Plc is bearish and it's consolidating near to resistance level crossing of the resistance can show northward journey .Stock is sustaining above the trend line with positive bias, crossing of the psychological level of 198 it can show fresh buying .One can initiate long position in the stock above the level of 198 with the stop loss of 194 for the target of 210.

CHART FORMATION:-

Stock has given the break out of falling trend line and forming bullish pattern breaching of the level 2000 it can show upside movement.

It's trading above the 50 DMA &facing resistance from 200 DMA with the positive bias.

INDICATORS:-

RSI is trading above the 50 level and showing consolidation , crossing of 60 level it can test the level of 70.

Macd & Signal line is about to give break out above Zero level line which is indicating strength in the stock.

FTSE Overview and Stock Pick of the Day

The London market moved higher on Monday as the prospect of a boost for the European economy helped make up for dismal economic news from Japan.The FTSE 100 Index gained 17.6 points to 6671.97 after European Central Bank president Mario Draghi hinted that quantitative easing could be on the cards to boost the lacklustre Eurozone economy.The FTSE initially fell during the course of the session on Monday, but found enough support just above the 6600 level to bounce Index is looking further strong for upcommings session and sustaining above 6600 level it can test 6900 level with support of 6400 level.

TOP GAINER

Name	Close Price	Change %
Vodafone Group	229.15	1.71
United utilities Gr	886.5	1.49
Pearson	1228	1.4
Brit Amer Tobacco	3707	1.33
Anglo American	1372	1.29

TOP LOSER

Name	Close Price	Change %
Standard Chartered	936.3
Hays	125.2
Enterprise Inns	0
Sainsbury
Astrazeneca

Stock pick of the Day : Severn Trent Plc

RECOMMENDATION BUY

TARGET 2095

The primary trend of Severn Trent Plc is bullish and it's consolidating near to resistance level crossing of the resistance can show northward journey. Stock is sustaining above the trend line with positive bias, crossing of the psychological level of 2000 it can show fresh buying. One can initiate long position in the stock above the level of 2000 with the stop loss of 1949 for the target of 2095.

CHART FORMATION:-

Stock has given the break out of falling trend line and forming bullish pattern breaching of the level 2000 it can show upside movement.

It's trading above the 50 DMA & 200 DMA with the positive bias.

INDICATORS:-

RSI is trading above the 50 level and showing consolidation, crossing of 60 level it can test the level of 70.

Macd & Signal line is about to give break out above Zero level line which is indicating strength in the stock.