EUR/AUD Technical Analysis for the day

Technical Analysis

EUR/AUD is having bearish secondary trend  on the charts and the pair is trading below the trend line in its hourly chart. In hourly chart the price is sustaining below 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair. It is having an important resistance at the level of 1.5590 and support at the level of 1.5345. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.

EUR/AUD

Forex Indicators

MACD is sustaining in its negative territory indicating the bearish trend in the pair.

RSI is sustaining in its selling zone indicating the upcoming bearish trend in the pair.

Technical Chart

Trading Strategy 

EUR/AUD is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.

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Crude Oil Technical analysis for 17/03/2016

U.S. crude oil stocks rose last week rose to record highs for a fifth straight week while gasoline inventories fell amid strong demand for the motor fuel, data from the Energy Information Administration showed on Wednesday. Crude inventories increased 1.3 million barrels in the week to March 11 to 523.2 million, a much smaller build than the 3.4 million-barrel increase expected by analysts. By 10:55 a.m. EDT, U.S. futures were up 3.7 percent at $37.71 per barrel. 

Crude Oil

On technical chart, Very short term trend of crude oil is bullish on chart. On its, 4 hourly chart, market has been making higher lows and higher highs from past few trading session. Crude oil also took support of 50 DMA and bounce back from the same on 4 hourly chart. It has been trading with support of SMA50 and SMA200 with appearance golden cross. Now it can test the next resistance of   41.90. On lower side it is having support of previous significant low of 35.90. On daily charts it has strong bullish candle. RSI is sustaining in its positive territory indicating the bearish trend on intra day basis.

Crude Oil technical Chart

Technical Pivot Levels

Commodity	R2	R1	S1	S2
GOLD	1284	1264	1224	1190
SILVER	16.35	15.82	15.11	14.6
CRUDE OIL	41.90	39.80	38.30	36.60
COPPER	2.2800	2.2570	2.2100	2.1890
NATURAL GAS	1.980	1.916	1.755	1.600
PLATINUM	1008	990	947	925
PALLADIUM	610	584	555	528

UK Stock Market Technical Analysis and Stock Picks

UK stocks advanced on Thursday, although the FTSE 100 was marginally lower as China's central bank devalued its currency for a third day and as Greece's economy expanded in the second quarter.

The People's Bank of China devalued the yuan for the third consecutive day on Thursday. The Bank set the parity rate at 6.4010 yuan for $1, down 1.11% from the previous day's 6.3306, in an effort to boost exports to feed the slowing economy.

The FTSE 100 ended the day in red by 2.86 points at 6568.33. If during the day market cross the resistance level of 6630 on upside after consolidation, then it can test the level of 6700 and the immediate support level is 6500.

Stock Pick of the Day

JOHNSON MATTHEY PLC GROUP

RECOMMENDATION SELL

TARGET 2840

The Major trend of JOHNSON MATTHEY PLC it is showing strength for selling .If it breaks the support level then one can initiate the selling position in the stock. If it breaks the level of 2840 then it can test support level for the target of 2805 with the stop loss of 2875.

CHART FORMATION:-

Stock is trading in a range and trading near the trendline. Breaking the support line will lead to downside movement. Stock is trading below the 50 DMA with negative bias.

INDICATORS:-

RSI is trading near to 44.82 level with negative bias, in upcoming session downside movement is expected.

MACD and Signal line is sustaining below the zero level line.

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