GBP-USD Forex Technical Report for Wednesday, January 21 2015

 

SUMMARY:

The major trend of GBP/USD is bullish. Prices are sustaining below the falling trendline with a positive bias. Today if the pair breaks the psychological level of 1.5180 at upside we can expect it to test the level of 1.5200/1.5230. RSI is also sustaining in buying territory supporting the ongoing trend. MACD line has recently break the zero line,indicating the up trend in the market.

STRATEGY  

GBP/USD is successfully sustaining on higher level & looking further bullish on charts. One can go for buy on dips strategy for this pair for intra day to mid term positions.

Wall Street Stock Pick of the Day for the upcoming Trading Session : Dollar Tree Inc

Recommendation    :            Buy Above $71.00
Target                      :            $73.50
STOCK SUMMARY:-Dollar Tree Inc is overall in bullish trend and is sustaining at higher levels on chart. Traders can buy the stock below the level of 71.00 which is a near term resistance level for the stock and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $73.50.

CHART FORMATIONStock is in bullish trend for near term and price is sustaining above the trend line after breakout on daily chart. Near term breach of resistance level of $71 is expected which would trigger further bullish sentiment in the stock to test the levels of $47.50.

INDICATORS:-
RSI is trading with positive bias and is sustaining above the level of 30.
In MACD signal line is sustaining above MACD line which  is indicating bearish sentiment in the stock.

Wall Street Analysis and Predictions for the next Sesssion

U.S. stock market closed on a flat note with Christmas shortened Wednesday.  The Dow Jones Industrial Average rose 6.04 points or less than 0.1% to close at 18030.21. The S&P 500 Index, slipped 0.29 points to finish at 2081.88. The Nasdaq Composite Index fared the best of the three advancing 8.05 points or 0.2% to end the day at 4773.47. With no major data due on Friday, market is expected to trade in range with low volume.

Get Daily Stock Market Updates on Smart Phone

BULLS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
Amira Nature	12.75	30.10
Navigator Holdings	20.18	12.74
AU Optronics ADS	05.42	12.45
Lending Club	25.32	09.71
Unifi	30.24	09.53

BEARS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
Nuverra Environmental Solutions	04.96	08.15
NQ Mobile ADS	04.32	07.69
Luxfer Holdings ADS	14.62	06.82
Sanchez Energy	09.91	06.69
Civeo	08.01	06.53

US Stock Pick of the Upcoming Session : MICHAEL KORS HLDGS LTD

Recommendation    :           Sell Below $73.15
Target                      :           $70.50

STOCK SUMMARY:-
Michael Kors Hldgs ltd is overall in consolidate trend and is sustaining at lower levels on chart. Traders can sell the stock below the level of $73.15 which is a near term support level for the stock and if it manages to breach this level further bearish movement is expected in this stock to test the levels of $70.50.

CHART FORMATION
Stock is in consolidate trend for near term and price is taking resistance from trend line with good consolidation on daily chart. Near term breach of support level of $73.15 is expected which would trigger further bearish sentiment in the stock to test the levels of $70.50.

Technical Chart

INDICATORS:-
RSI is trading with negative bias and is sustaining below the level of 50.
In MACD signal line is sustaining below MACD line which  is indicating bearish sentiment in the stock.

US Stock Market updates and Forecast

U.S. Stock Market Overview

U.S. stock market closed on a positive note on Monday with the S&P 500 ending at a record as large-cap technology shares rose, though continued weakness in crude oil prices weighed on the energy sector. The Dow Jones industrial average gained 155.09 points or 0.87 percent to close at  17959.89, the S&P 500 rose 7.95 points or 0.38 percent to close 2078.6 and the Nasdaq Composite added 16.04 points or 0.34 percent to end the session at 4781.42. GDP and New Home sales data is due on Tuesday, which is expected to come positive for the economy to continue its bullish trend at the same pace.

Get Stock Picks on your Smart Phone. Register your Number Now

BULLS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
e-hi Car Services ADS	09.50	17.43
Dover Motorsports	02.80	15.23
Nevro	38.99	12.14
Skilled Health Group CI A	08.80	09.18
Knowles	21.76	07.83

BEARS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
Ocwen Financial	15.93	27.26
Primero Mining	03.12	17.15
Pretium Resources	05.05	14.39
NQ Mobile ADS	03.55	13.20
Nationstar Mortgage Holdings	28.01	12.52

US Stock Pick for the Upcoming Trading Session : Facebook

Stock Pick of the Day

Recommendation                Buy Above $79.00
Target                                  $81.50

STOCK SUMMARY:-Facebook Inc is overall in bullish trend and is sustaining at higher levels on chart. Traders can buy the stock above the level of $79.00 which is a near term resistance level for the stock, and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $81.50.


Stock Picks on Smart Phone

CHART FORMATION
Stock is in consolidate trend for near term and price is sustaining below the resistance trend line with good consolidation on daily chart. Near term breach of resistance level of $79.00 is expected, which would trigger further bullish sentiment in the stock to test the levels of $81.50.

Technical Chart

INDICATORS:-
RSI is trading with positive bias and is sustaining above the level of 50.
In MACD, signal line is sustaining above MACD line which  is indicating bullish sentiment in the stock.

US Stock Market ended Bearish on Friday

NYSE Insights

US stock market ended on a negative note on Friday, falling sharply with its worst weekly performance since May 2012, as investors pulled back from the markets in response to oil's free-fall and more weak data out of China. The Dow Jones industrial average fell 315.51 points or 1.79 % to close at 17,280.83, the S&P 500 lost 33 points or 1.62% to close at 2,002.33 and the Nasdaq Composite dropped 54.57 points or 1.16% to end the session at 4,653.60. With no major data due on Monday, market is expected to trade on lower level with less volume.

Stock Picks on Smart Phone

BULLS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
New Relic	33.99	47.78
Talisman Energy	04.29	16.26
Nordic American Offshre	11.14	14.85
Teekay Tankers	05.35	14.56
Oasis Petroleum	12.33	11.58

BEARS OF THE STREET (NYSE)

Name	Close Price ( $ )	Change %
Shutterstock	62.51	12.78
Esterline Technologies	103.63	11.83
Mc Clatchy CIA	03.35	11.38
Walter Energy	01.80	10.45
YPF ADS	24.04	10.33