UK equities recovered

London stocks gains after the retail sector outweighed falls from energy stocks on Monday, as UK equities recovered strongly after their worst weekly performance so far this year. The economic data calendar was relatively quiet on Monday, as the focus remains on the upcoming Federal Reserve decision and UK Budget on Wednesday

The FTSE 100 index ended the session up by 0.94% to 6804.08, after dropping 2.5 % last week. If during the day market is breaching the support level of 6760 on downside after consolidation, then it can test the level of 6700 with the resistance of 6810.

RECOMMENDATION SELL

TARGET 420

The Major trend of Dixons Carphone Plc is sideways and it is showing strength for selling . If it moves below the support level then one can initiate the short position in the stock. If it breaks the level of 425 then it can show downside movement for the target of 420 with the stop loss of 429.

CHART FORMATION:-

Stock is trading near its support and sustaining below that trendline is indicating selling in the chart. Crossing the trendline will lead to downside movement. Stock is trading below the 50 and 200 DMA with negative bias.

INDICATORS:-

RSI is trading near to 49.65 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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FTSE london | Gains

London stocks gains after pharma and beverage stocks ended in positive note. In Economic data on Thursday, UK trade balance registered an unexpectedly large improvement at the start of the year. The deficit on sales of goods overseas shrank to £8.4bn in January from a revised £9.9bn, better than the £9.7bn consensus forecast. Meanwhile, Eurozone industrial production fell 0.1% in January after a 0.3% rise in December, missing the +0.2% estimate.

The FTSE 100 index end the session positive up by 0.59% to 6761.07 pulling back after hitting a high of 6,799.84 earlier, with concerns about Greece weighing on sentiment in afternoon trade. If during the day market is breaching the support level of 6680 on downside after consolidation, then it can test the level of 6620 with the resistance of 6720.

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Sports Direct International Plc

RECOMMENDATION SELL

TARGET 634

The Major trend of Sports Direct International Plc is sideways and it is showing strength for selling . If it moves below the support level then one can initiate the short position in the stock. If it breaks the level of 650 then it can show downside movement for the target of 634 with the stop loss of 664.

CHART FORMATION:-

Stock is trading near its support and sustaining below that trendline is indicating selling in the chart. Crossing the trendline will lead to downside movement. Stock is trading below the 50 and 200 DMA with negative bias.

INDICATORS:-

RSI is trading near to 34.07 level with negative bias, in upcoming session downside movement is expected.

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

Forex trading signal-AUD/CAD

The overall trend of AUD/CAD is sideways, but from the last few days prices are not sustaining at lower levels & taking resistance of falling trend line & consolidating with a positive bias. In its hourly chart the pair is forming a falling channel which indicates the prices to show upside movement. 30 DMA is also acting as a support for the prices & can come up to test 200 DMA, indicating the strength for the northward journey. If AUD/CAD crosses the level of 0.9720 it can come up to the levels of 0.9780/0.9820 in today’s trading session.

   

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RSI is sustaining in buying territory & indicating the positive side movement for the day.

In MACD, MACD line has crossed the zero line & supporting the upside movement for next few sessions.

STRATEGY:- AUD/CAD has bounced back from the lower level & looking bullish on charts for next few session. One can go for buy on dips strategy for this pair for intra day to mid term positions

Forex signals Today-EUR/USD

Forex signals live chart -EUR/USD

The primary trend of EUR/USD is bearish, prices are successfully sustaining at the lower levels & looking weak for the upcoming sessions. The pair is consolidating with strong negative bias to give a breakout at downside. Prices are also taking support at the important level of 1.1155. Today if the pair breaks 1.1150 & managed to sustain below it, then we can expect it to continue its ongoing trend & test the level of 1.1095 in today's session.

RSI is also sustaining in selling territory supporting downside movement in the pair.

                                    

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STRATEGY :- EUR/USD is looking further bearish on charts. One can go for sell on higher level strategy for this pair for intra day to mid term positions.

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