AUD/USD Bearish Trend

Forex Trading Signals

The major trend of AUD/USD is bearish, but from last few days prices are not sustaining at lower levels. The pair is taking resistance from the psychological level of 0.7830 consolidating & gaining strength to break it upside. Today if the pair breaks 0.7831 & managed to sustain above it, then we can expect it to test the level of 0.7876/ 0.7910 in a day or two.

Prices are taking support of 30 SMA & 200 SMA. RSI is also sustaining in buying territory supporting upside movement in the pair. MACD line has recently break the zero line,indicating the up trend in the market.

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STRATEGY :-AUD/USD is looking further bullish on charts. One can go for buy on dips strategy for this pair for intra day to mid term positions. 

                                                                Technical Report

                                                          

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.1208	1.1264	1.1338	1.1394	1.1468	1.1524	1.1598
GBP/USD	1.5222	1.5268	1.5311	1.5357	1.5400	1.5446	1.5489
USD/JPY	117.27	117.74	118.50	118.97	119.73	120.20	120.96
USD/CHF	0.9222	0.9254	0.9312	0.9344	0.9402	0.9434	0.9492
AUD/USD	0.7681	0.7713	0.7767	0.7799	0.7853	0.7885	0.7939
EUR/GBP	0.7311	0.7341	0.7387	0.7417	0.7463	0.7493	0.7539

AUD/CAD Trend

Australian Dollar Vs Canadian Dollar

The major trend of AUD/CAD is sideways, but from last few days prices are trading in consolidation only. In its hourly chart prices are near the support and If the pair breaks the support of 0.9652 then we can expect it to test the level of     0.9620 in today's session. 

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STRATEGY:-For Today AUD/CAD is looking weak on chart. We can expect negative movement for few upcoming session. One can go for sell on rise strategy for this pair for intra day positions.

                                               Technical Report

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.1377	1.1383	1.1390	1.1396	1.1403	1.1409	1.1416
GBP/USD	1.5356	1.5375	1.5389	1.5408	1.5422	1.5441	1.5455
USD/JPY	118.15	118.30	118.47	118.62	118.78	118.94	119.10
USD/CHF	0.9298	0.9306	0.9312	0.9320	0.9326	0.9334	0.9340
AUD/USD	0.7736	0.7747	0.7756	0.7767	0.7776	0.7787	0.7796
EUR/GBP	0.7376	0.7382	0.7391	0.7397	0.7406	0.7412	0.7421
USD/CAD	1.2429	1.2436	1.2445	1.2452	1.2461	1.2468	1.2477
NZD/USD	0.7454	0.7462	0.7470	0.7478	0.7486	0.7494	0.7502

Bearish trend | AUD/USD

Waiting for price action to offer  opportunity down the road.     

  The major trend of AUD/USD is bearish, but from last few days it has shown profit booking in lower levels. In its hourly chart prices are sustaining below the falling trendline & consolidating with a positive bias. If the pair breaks the level of 0.7800 & sustains above it then we can expct it to test the level of 0.7840 in today's session.

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STRATEGY:- For Today AUD/USD is looking strong on chart. We can expect positive side movement for few upcoming session. One can go for buy on dips strategy for this pair for intra day positions.

                                                         Technical Report

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.1207	1.1254	1.1329	1.1376	1.1451	1.1498	1.1573
GBP/USD	1.5047	1.5127	1.5256	1.5336	1.5465	1.5545	1.5674
USD/JPY	116.27	117.38	118.25	119.36	120.23	121.34	122.21
USD/CHF	0.9173	0.9212	0.9260	0.9299	0.9347	0.9386	0.9434
AUD/USD	0.7517	0.7579	0.7657	0.7719	0.7797	0.7859	0.7937
EUR/GBP	0.7281	0.7325	0.7368	0.7412	0.7455	0.7499	0.7542
USD/CAD	1.2200	1.2318	1.2412	1.2530	1.2624	1.2742	1.2836
NZD/USD	0.7154	0.7233	0.7330	0.7409	0.7506	0.7585	0.7682

BOE Report | GBP/USD

The British Pound against the US Dollar is one of the oldest currency pairings in the world. 

                                                                                                                   

The secondry trend of GBP/USD is bearish, the pair is sustaining on the rising trendline & consolidating with a negative bias. 30 DMA is also providing resistance to the prices. If the pair sustains below 1.5200 levels, it can come down to the levels of 1.5165/1.5140. MACD is successfully sustaining below the zero line indicating the bearish sentiment in the market.
          

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STRATEGY:- For Today GBP/USD is looking weak on chart. We can expect downside movement for few upcoming session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.

                                                       Technical Report 

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.1220	1.1249	1.1291	1.1320	1.1362	1.1391	1.1433
GBP/USD	1.5118	1.5167	1.5203	1.5252	1.5288	1.5337	1.5373
USD/JPY	118.42	118.84	119.66	120.08	120.90	121.32	122.14
USD/CHF	0.9162	0.9193	0.9239	0.9270	0.9316	0.9347	0.9393
AUD/USD	0.7571	0.7631	0.7675	0.7735	0.7779	0.7839	0.7883
EUR/GBP	0.7331	0.7357	0.7398	0.7424	0.7465	0.7491	0.7532
USD/CAD	1.2436	1.2502	1.2568	1.2634	1.2700	1.2766	1.2832
NZD/USD	0.7219	0.7282	0.7323	0.7386	0.7427	0.7490	0.7531

Hong Kong stocks Market Overview

Hong Kong stocks Market Overview:-
Hong Kong stocks opened with positive biased and regained the 23,000 level on the back of positive PMI data announced by HSBC. However, gains narrowed in late session, Hang Seng index closed at 22,953, added 117 points. Market turnover was HK$62.5bn
Hang Seng Index closed 5 week high on Thursday. Technically, index is looking bullish till it sustain above 22600. RSI now trading in positive territory and closed above its 14 DMA. MACD bullish gap expanding, which showing that momentum is now stable. Index is now having major resistance at the level of 23200 profit booking in market can be seen and index can show a range bound movement in upcoming session. Hang Seng index first support would be 22,600, while next support would be seen at 50DMA (22,327).
Stock Pick for the day:  CM Bank

Recommendation Buy
Target  : 15& 16
Recommended Price : 14.06
Stop Loss 13.40


STOCK SUMMARY:-
Major trend of CM Bank is bullish on charts and it has been trading in positive territory from past few trading session. It has shown good accumulation with positive biased. It has been facing resistance of 200 DMA on intra day, if it manages give breakout above its immediate resistance mark of 14.06 and sustain above 200 DMA then further northward movement can be seen in upcoming session. One can initiate long position in the stock above 14 and can expect the targets of 15& 16 in upcoming session, while support of 13.40 can act at stop loss.

CHART FORMATION:- 
Stock is forming higher top and higher bottom on daily chart with the support of 50 DMA and 200 DMA and it has given upside breakout from its falling wedge on intraday chart and sustaining above its upper resistance line.


INDICATORS:-
MACD Line is sustaining above its single line. RSI is trading in positive territory and taking support of its 14 DMA.

On ADX its positive DI Placed above its negative DI where as ADX is trading above 25 mark.

RSI is trading in positive territory and sustaining above its 14 DMA.

Technical Analysis of EUR/JPY For Today

EUR/JPY Today

Bearish candlestick formation "Kharami" allowed the pair to perform a U-turn in favor of the Japanese currency and start falling towards 261.8% Fib level- 139.41. Education bullish candlestick formation allows traders to expect a reversal in favor of the euro and some growth in the direction of the correctional level 323.6% -150.07. Securing quotations below the 261.8% Fib increase the likelihood of further depreciation in the direction of the next correction level 200.0% -128.71. After the formation of a bearish candlestick formation "veil of dark clouds" on the 4-hour chart the pair performed a U-turn in favor of the Japanese yen and the beginning of the process of falling in the direction of the correctional level of 38.2%- 140.17. Bullish candlestick formation "Kharami" is not allowed to start a pair of growth and formation bearish "Kharami" allowed to continue to drop in prices. Formation of a new bullish formation allows traders May 7 count on a turn in favor of the euro currency pairs and some growth in the direction of the correctional level of 23.6% - 142.28.

AUD/USD Chart Today: FOREX Day Trading Trend

AUD/USD Chart Today

FOREX Day Trading Trend Today:
Reverse Head & Shoulder pattern observed in AUD/USD. AUD/USD is expected to remain bullish for this week.Next resistance to look for is 0.8940