FTSE | BUY WM

London stocks settled near 15- year high on Friday as improving data from the Eurozone. In economic data on Friday, Markit's Eurozone composite purchasing managers' index rose to a seven-month high in February. The 'flash' reading increased from 52.6 to 53.5 this month .

The FTSE 100 index ended with a gain of 0.4% to 6915.20, as market was near its record high of 6930.20 was reached in December 1999. If during the day market is breaching the resistance level of 6930 on upside after consolidation, then it can test the level of 7010 with the support of 6880.

                                          Morrison (WM) Super Markets Plc

CHART FORMATION:-

Stock is trading near its resistance and breaking above that trendline will lead to buying in the chart. Crossing the resistance will lead to upside movement. Stock is trading above 

the 50 & 200 DMA with positive bias.
                 

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RECOMMENDATION BUY

TARGET 195

The Major trend of Morrison (WM) Super Markets Plc is sideways and it is showing strength for buying. If it moves above the resistance then one can initiate the long position in the stock. If it breaks the level of 190 upside then it can show upside movement for the target of 195 with the stop loss of 186.

INDICATORS:-

RSI is trading near to 70.13 level with positive bias, in upcoming session upside movement is expected. Volume is also increasing as pattern is near its breakout.

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

Weak on chart-GBP/CAD

Forex Trading Signals

The major trend of GBP/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 1.9106 then we can expect it to test the level of 1.9066 in today's session with Stop loss of 1.9130.

                                                      

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STRATEGY:- For Today GBP/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	1.1191	1.1254	1.1303	1.1366	1.1415	1.1478	1.1527
GBP/USD	1.5207	1.5271	1.5317	1.5381	1.5427	1.5491	1.5537
USD/JPY	117.42	117.79	118.13	118.5	118.84	119.21	119.55
USD/CHF	0.9231	0.9254	0.9286	0.9309	0.9341	0.9364	0.9396
AUD/USD	0.7695	0.7721	0.7747	0.7773	0.7799	0.7825	0.7851
EUR/GBP	0.7312	0.7343	0.7367	0.7398	0.7422	0.7453	0.7477
USD/CAD	1.2354	1.2386	1.2426	1.2458	1.2498	1.2530	1.2570
NZD/USD	0.7342	0.7386	0.7443	0.7487	0.7544	0.7588	0.7645

 

London's blue casino chips was over Monday's session largely cheaper

UK MARKET OVERVIEW

London's blue casino chips was over Monday's session largely cheaper, struck simply by fragile buyer emotion in the middle of installation stresses inside Iraq. The particular FTSE 100 sealed 1. 21 things cheaper on 6, 754. sixty four. FTSE 100 opened up along with damaging opinion as well as traded inside damaging terrain as well as produced a intra morning lower on 6748 but in subsequent 1 / 2 that confirmed a few recuperation as well as screened how much 6780. Listing possesses provided the escape connected with multiple top inside every day chart as well as provided closing below that, RSI possesses trading below 50 levels experiencing amount of resistance along with 9 DMA. Throughout around it can indicate even more static correction which enable it to check how much 6500 along with amount of resistance connected with 6900.

Alliance Trust plc

STOCK CONCLUSION:

The key pattern connected with Alliance  Trust Plc is bullish but via previous couple of trading session that didn't manages to help preserve on advanced & developing distribution structure while using lower quantity. Share is manages to help preserve below the pattern collection along with damaging opinion breaking connected with it truly is around support levels i. at the. 445 it can indicate downward movements which enable it to check how much 439 & 2 hundred DMA is performing nearly as good quit loss levels i. at the. 450.

INFORMATION FORMATION

Share possesses provided the escape connected with increase top as well as merging along with damaging opinion below the pattern collection, breaking in the support levels it can indicate advertising strain.

Share is coping with to help industry below 50 DMA & 2 hundred DMA along with damaging opinion.

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Technical Trend and Levels for Gold for Today

COMEX Gold Today

Based on the pattern prevailing in gold on May 28, it is clear that a strong downward price movement resumed and Murray worked level "1/8". Senior channel is directed downward, indicating that the downward direction of motion of the global trend . Low channel also turned down which means the downward direction and in the medium term. At the moment the price is below the moving average and below the Murray "2/8" , which tells us about the possible downstream movement in the short term . The first purpose of downward movement, thus, is Murray level "1/8" - 1265.63 already achieved . If this level of price overcomes Murray, the new Target will be the level of Murray "0/8" - 1250,00. The moving average is directed downward , and the price is below it, so now more likely downward movement in the coming days. Heiken Ashi colored bars in the last blue, which indicates the local downward motion, so to top of the indicator, which would mean turn upward correction, can maintain short positions. Longhi will be relevant only after fixing prices above the moving average and turn up any linear regression channel. The CCI indicator is about the level of -200, indicating that there is a strong tool oversold, so may soon begin an upward pullback.

Forex: Euro at Risk as Dovish Commentary Stokes Easing Speculation

The economic calendar remains quiet in European hours, with Swiss Trade Balance figures amounting to the only bit of noteworthy event risk on the docket. The trade surplus is expected to edge to CHF 2.1 billion in April, marking a hairline improvement over the prior month. The release probably won’t meaningful direction cues to the Swiss Franc considering its limited implications for SNB monetary policy. Indeed, with the central bank forecasting inflation below 1 percent through 2015, Thomas Jordan and company seem unlikely to step away from an ultra-accommodation policy regime for some time yet.

Elsewhere, traders will continue to watch sideline commentary from the ECB Conference on Central Banks going into its third day in Sintra, Portugal. Policymakers have gathered to discuss ways to address the lingering disinflation problem in the Eurozone with an eye to potentially introduce an expanded stimulus effort as soon as next week. Dovish rhetoric from the summit has failed to apply downward pressure on the Euro thus far but that can swiftly change if vague pronouncements about the severity of the situation are replaced with actionable policy prescriptions. We remain short EUR/USD.

The spotlight turns to US data later in the day, with April’s Durable Goods Orders report and May’s Consumer Confidence reading on the docket. US economic news-flow has increasingly improved relative to expectations in early April, suggesting analysts are underestimating the economy’s resilience and opening the door for upside surprises. Such outcomesare likely to help scatter doubts about continued “tapering” of QE asset purchases, stoking speculation about subsequent interest rate hikes and boosting the US Dollar.

FOREX Signal and Divergence Analysis of GBP/USD

FOREX Signal Today

GBP/USD Pair performed a U-turn in favor of the dollar and began the process of a drop in prices in the direction of the correctional level Fib 100.0% - 1.6319. Emerging divergence in none of the indicator is not observed. Rebound of the pair on the level of 100.0% correction will allow traders to count on a turn in favor of the UK currency and continued growth in the direction of 161.8% Fib level- 1.7250. Securing quotes below the level of 100.0% correction will increase the likelihood of further fall in the direction of the next level of Fib 76.4%- 1.5968.

On the 4-hour chart has formed a bullish divergence, which leads us to expect a reversal in favor of the British currency and some growth in the direction of correction level 261.8% - 1.7289. Bullish divergence of the indicator CCI: last quotations below the previous low, and similar low indicator- higher than the previous. If quotes May 15 will be the last low divergence, it will be canceled, and depreciation will continue in the direction of the correctional level 200.0% - 1.6697. Securing the pair below the 200.0 % Fib increase the chances of a continued fall in the direction of the next level of correction.

FOREX Signal For Today: Daily Technical Levels

FOREX Signals:

GBP/USD continues to move bullish while taking support at 1.6462 level. Momentum indicators are also bullish on the pair.

Next resistance to look for is at 1.6820 level.Key fundamentals for today is Manufacturing PMI announcement on 08:30am GMT with forecast value 56.7 against previous 56.9.

Today GBP/USD Chart

FOREX Technical Levels

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.3727	1.3736	1.3745	1.3754	1.3763	1.3772	1.3781
GBP/USD	1.6618	1.6629	1.6638	1.6649	1.6658	1.6669	1.6678
AUD/USD	0.9225	0.9232	0.9245	0.9252	0.9265	0.9272	0.9285
USD/JPY	102.73	102.79	102.84	102.90	102.95	103.01	103.06
USD/CAD	1.1031	1.1041	1.1046	1.1056	1.1061	1.1071	1.1076
USD/CHF	0.8842	0.8849	0.8860	0.8867	0.8878	0.8885	0.8896