EUR/USD & GBP/USD Report Today

EUR/USD 

The EURUSD tried to break above the 1.10 level during the course of the session on yesterday, but shown a bit of resistance. With that, the market should continue to see sellers every time we rally, and it is believed that the market will continue to heads towards the 1.0750 level and then the 1.05 level. We would not look for buying opportunities until we get above the 1.15 level.

 

GBP/USD

The GBPUSD tried to rally during the course of the session on yesterday, but found the 1.50 level to be a bit resistive. We feel that the market will then go back down to the 1.48 level, as we continue to consolidate. If we break down below there, and more importantly to the 1.4750 level, we would be sellers and heading towards the 1.45 level. A break above the 1.50 level is likely to send this market to 1.51 level. As of now, we are looking for selling opportunities.

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UK Stock Market News | UK Stock Picks | Top Gainers of the Day

London stocks falls to its lowest close in two and a half weeks on Tuesday as investors used some weak economic data as an excuse to rebalance their books before the quarter-end. Economic data from the UK mostly beat expectations on Tuesday, including an unexpected upwards revision to economic growth estimates for the fourth quarter and a jump in business confidence in March.

The FTSE 100 index ended the session down by 1.72 % at 6773.04, as investors book profit ahead of quarter end. 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 reistance of 6800.

For more details: 

TOP GAINER

Name	Close Price	Change %
KINGFISHER	380.6	4.33
MARKS & SPENCER	543.51	1.02
RENTOKIL INITIAL	136.7	0.89
ENTERPRISE INNS	100.3	0.85
CARNIVAL	3296	0.67

TOP LOSER

Name	Close Price	Change %
ANGLO AMERICAN	1012	4.53
IMPERIAL TOBACCO	2963	3.42
BRIT AMER TOBACCO	3488.5	2.95
BG GROUP	829	2.7
BHP BILLITON	1473.5	2.55

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UK Stock Trading Signals | BUY call for Abott Labs

Market Overview:-

US equity market closed the session on a positive note on Monday with all major sectors ending in solid gains. The Dow Jones industrial average gained 263 points or 1.49% to close at 17976, the NASDAQ Composite index gained 56 points or 1.14% to close the day at 4947 and the S&P 500 index gained 25 points or 1.21% to end the session at 2086. CB Consumer Confidence data is due on Tuesday, which is expected to come positive for the economy to help support the bulls in the market.

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ABOTT LABS: BUY call for Today

Recommendation Buy Above $48.00

Target:- $50.50

STOCK SUMMARY:-

Abott Labs is overall in bullish trend and is sustaining at higher levels on chart. Traders can buy the stock above the level of $48.00 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 $50.50.

CHART FORMATION:-

Stock is in bullish trend for near term and price is taking support above the trend line on daily chart. Near term breach of major resistance level of $48.00 is expected which would trigger further bullish sentiment in the stock to test the levels of $50.50.

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.

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