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

Pound Looks to Financial Stability Report to Drive BOE Rate Hike Bets

Pound Looks to Financial Stability

Your spotlight turns towards the Bank of England yet again in European trading hours as Governor Mark Carney presents the actual bi-annual Financial Stability Report (FSR). The document is anticipated to feature measures to be able to cool the frothy UK property industry. The pace involving housing price increases accelerated into a year-on-year pace involving 11. 1 percent in May in accordance with data from the actual Nationwide Building Society, marking a seven-year substantial. The central bank’s very own data shows BRITISH citizens owe a hefty £1. 2 trillion on their homes. That has officials focused on excessive levels involving debt, which could lead to a crisis akin to the us mortgages fiasco that metastasized in to the 2008 credit meltdown and subsequent international recession.

The FSR’s effect on the British Pound will largely indicate its implications pertaining to BOE monetary policy normalization. If the report suggests that the need to cool exuberance within the housing market can meant that rate hikes are needed prior to might otherwise are the case, Sterling will probably move broadly increased. The absence involving distinctly hawkish unsupported claims – a sensibly likely outcome contemplating Mr. Carney has formerly voiced his support to get a macro-prudential rather in comparison with rates-driven policy reply – may keep Pound bulls let down and open the threshold for disappointed marketing. GBPUSD has ripped back from recent highs ahead of the FSR’s release, losing its grip on the 1. 70 figure, while EURGBP provides recovered above the actual 0. 80 mark.


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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.

FOREX News with EUR/USD Day Trading Levels Today

FOREX News:

According to the Central Statistical Office of Cyprus , output continued to decline in November 2013 reduction rate increased in relation to the previous month. Production volume decreased by 14.4% in November compared with November 2013 In October, its reduction was 11.5 % , and in September - 11.6% . Low reading due to the decline in manufacturing output by 17.1 % , as well as in the mining sector by 30.4 %. In the energy sector output fell by 2.9 % in relation to the data for November 2012 For the period from January to November , the production volume decreased by 13% compared to the same period of the previous year.

EUR/USD Day Trading Levels:

Technical levels for EUR/USD, Support are looking at 1.3431-1.3568 while Resistance levels are at 1.3734-1.3871

EUR/USD Levels