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 Forecast For Today: 6th May

The ECB seems to have no decision to change its monetary policy this Thursday will not accept. The latest data on retail inflation in the euro zone, and this 0.7%, against the previous value for the European Central Bank is a signal that while no action is necessary. But yesterday's data on producer price inflation should still make the bank's board to attend because a long period of decline in producer prices certainly have a negative impact on the euro-zone economy. In the meantime, the ECB continue to rely solely on consumer inflation. Reserve Bank of Australia left its benchmark interest rate unchanged at 2.5%. This decision is due to the fact that the apparent slowdown in China reduces the need for raw materials, which are delivered in China Australian companies. Weak economic growth is forcing the RBA to keep rates at extremely low levels. Especially since he is trying in this way to stimulate the growth of the national economy . Decline in consumer confidence for a long time remained under pressure . The decline in exports of raw mining has led to job losses , which contributed to an increase in unemployment . Only the ratio of the Fed to the prospects of its monetary policy currently supports the Australian dollar against its U.S. counterpart . At the same time, the U.S. economy continues to show growth after slowing down this winter. And the continuation of such dynamics will help reduce the volume of foreclosure assets before the end of this year and may even cause the Fed to do it earlier.

Forecast of the Day: 

The EURUSD continues to consolidate in anticipation of the ECB meeting on monetary policy, which will be held on May 8. And most likely it will move in a narrow range of 1.3850-85. But break of 1.3885 could increase to 1.3910. Australian dollar amid rising risk appetite and, despite the fact that it was decided to leave the rate unchanged, receives support, as well as due to the fact that the market does not expect the Fed to change monetary policy before the middle of 2015.

Technical Analysis GBP/USD For Today: 28 April

After the formation of bullish divergence quotes continue to rise in the direction of correction level 161.8%- 1.7250. Bullish Divergence indicator MACD: last low quotations turned higher than the previous low, a similar indicator- below the previous. If the last low quotes is passed, then the pair will perform a U-turn in favor of the U.S. currency and starts falling, and the divergence is canceled. Emerging divergence is observed. Securing of the pair below the 100.0 % Fib- 1.6319 increase the chances of a further fall in the direction of the next correction level 76.4%- 1.5968.

Quotes on 4-hour chart continues the process of falling in the direction of correction level 200.0% - 1.6697 after the formation of a bearish divergence. Bearish divergence of the indicator MACD: last peak quotations received the same with the previous one, and the same peak indicator - below the previous. Retreat from the correction level 200.0% April 28, allows traders to expect a reversal in favor of the currency of England and some growth in the direction of 261.8% Fib level - 1.7289. Securing of the pair below the 200.0% correction will allow to count on a continued fall.

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USD/CHF weekly Trend and Stock Pick Today

USD/CHF Weekly Trend

Pushed on Monday from 0.8785 mark, the pair USD/CHF continued upward movement and was able to work on Friday the 89th level figures. Thus, it seems that the whole plot increases, which began its formation from a minimum of 13 March, bought signs almost complete five-wave structure. If so, then working out a calculation purposes, the corresponding elevation 0.8925-0.8930, indicating likely end of a wave and, as part of the host rather complicated form of the 4th wave, in the 5th. Targets for testing options with a rising wave: 0.8890 - 50.0% Fibonacci 0.8991 - 76.4% Fibonacci Targets for testing options with a downward wave: 0.8706- 161.8% Fibonacci 0.8650- 423.6% Fibonacci

Stock Pick of Today:

Stock For Today

Analyzing stocks Hewlett-Packard Company on March 31, it is clear that the price continues to correctional movement , MACD is still pointing down. Current "golden cross" is strong (as the price is above the Ichimoku cloud), so long positions now allows Ichimoku considered . Senior linear regression channel upwards , Jr. also directed upward , and from this point of view longs are also relevant . The purpose of the tool is the upward movement of the resistance level of 33.86 . If the price above the first target , the upward movement may continue with a view to the resistance level of 37.69 . Formed a bearish candlestick patterns " Longshanks Doji ", which indicates a possible continuation of the correction. MACD is pointing down indicates that the current downtrend , the indicator turns up can attest to the completion of turn downward correction , but the indicator may be too late in response to this , as it is located at the maximum positions. Stochastic overbought left the area that now shows a downward motion . If the price bounces from Kijun -sen , it could trigger the resumption of the uptrend. Smaller timeframe chart details the older picture . Youngest chart are advised to consider short positions , ie the blue blocks bars with goals Kijun-Sen and Senkou Span A , while fixing below the Tenkan -sen . Opening or consolidation above the Tenkan -sen give actual goal 33.86 resistance level . Trading recommendations for a 4-hour timeframe : Share price continues HPQ adjusted . On the current chart now advised to consider long positions with a view to 33.86 . In the case of overcoming the first target will be the next target 37.69 . Open new long positions recommended when prices rebound from the critical line , in case of a reversal MACD top (may be late) or the formation of strong bullish pattern . Stop Loss when trading to increase exhibit below the critical line 30.92 . Short positions are not relevant now . Trading recommendations for the 15-minute timeframe : On the 15- minute chart recommended ottorgovyvat blue blocks bars with goals Kijun-sen (30.92) and Senkou Span A (29.94) at the opening below the Tenkan-sen ( 32.33 ) . In the case of consolidation or opening above Tenkan-sen will be relevant long positions (orange bars blocks) to the level of 33.86.

EUR/USD Trend and Trading Recommendation Today

After taking a wait all day yesterday EUR / USD pair remained in the range of the maximum amplitude of price changes of about 50 percentage points Thus, there remains the situation, allowing the currency pair to resume progress since February 19, the downward movement in the direction of the first possible target located on the approach to a mark 1.3650. In this case we denote MACD_akatak same divergence indicates that the alleged 2nd wave or b, taking a rather complicated and a long form, has almost completed the process of its formation.

Trading recommendations: As part of the descending wave may start price reduced with the objectives located near settlement marks 1.3646 and 1.3588, which equates to 50.0% and 61.8% Fibonacci. As part of the ascending wave instrument can continue to increase with the objectives located near 1.3762 and 1.3836 marks, which corresponds to 100% and 11.4% Fibonacci. Unsuccessful attempt to break the 1.3762 mark and MACD Divergence encounters conclusion readiness tool to build a downward wave. Breakthrough mark 1.3762 bring upon conclusion readiness tool to continue increasing prices.

FOREX Forecast For Today: 13th Feb 2014

Quotes performed reversal in favor of England currency and consolidation of correctional Fibo level 100.0%-1.6334. As a result, the growth rate continues towards the next correction level 161.8%-1.7255. Emerging divergence in none of the indicator is not observed. Securing the pair below the 100% Fib allows traders to expect a reversal in favor of the U.S. dollar and a fall in the direction of the correctional level of 76.4%-1.5975.

British pound whenever tried to continue its upward trend against the U.S. dollar , but any strong growth wave constantly led to correction of the pair down and removal of stop orders buyers. In general, the bulls have achieved what they wanted, but at what cost? On the day the fair price protection zones are located in areas VAL - 1.6414 and VAH -1.6470. Control point POC was formed in 1.6448.

Forecast for today:

During today's Asian session, the British pound was trading in a narrow sideways channel against the U.S. dollar.

In case of further movement of the pair up , the first level of resistance will VAH from February 11-1.6470 , above which the British can catch POC from January 30 - 1.6480 from which further strengthened with the primary purpose test VAL, January 27-1.6511 and VAL 29 January - 1.6549.

If the Bears will have a strong growth and GBP / USD will be limited , a good level of support for the pair perform VAH region from February 3 - 1.6439 , below which the decline of the pound may lead to test POC from February 10 - 1.6409 and then VAH from February 7 - 1.6385 . Fastening under these levels return GBP / USD to test VAH from February 5 - 1.6341 and then VAH 6 February - 1.6324. The farthest goal is to decline to POC from February 4 - 1.6305.

FOREX Forecast For Today: 15th Jan

For the euro / dollar and dollar / franc while watching the structure of 9 January as the main reference point. For the GBP / USD price is in the correction zone from falling structure on January 10. The pair dollar / yen formed potential for the top , but expressed initial conditions we do not observe . For the euro / yen and pound / yen pair is similar to painting Dollar / Yen and here we expect a more specific structure formation .

Forecast for January 15 :

For the euro / dollar important levels are 1.3834, 1.3791, 1.3771, 1.3719, 1.3699, 1.3654, 1.3636, 1.3605 and 1.3551. Here the rising structure of 9 January is still relevant for the purposes of the definition. Short-term upward movement forward in the corridor 1.3699-1.3719, break of the latter should be accompanied by a strong upward movement, the Target here- 1.3771, 1.3771 in the hallway- 1.3791 price consolidation. Potential value for the top level of 1.3834 believe at which downward pullback . Short-term downward movement is possible in the corridor 1.3636-1.3605, hence we expect the key reversal up, breakdown of the level 1.3605 will favor the falling structure , in this case the target- 1.3551.