USD INR currency trading tips updated on 07th May 2015, Thursday.

USD INR

USD INR currently moving up from 23.6% fibonacci retracement technical indicates as long as it holds above bulls will be favored.

Current bullish rally is supported with good volumes as shown in above graph this indicates bulls are active.

On upper side when USD INR currency closes and holds above its previous top then further price rise can be seen. Even currency major trend indicator "MACD" is moving in positive zone and above level zero this indicates bulls action can be seen once currency closes and holds above its resistance zone. Visit link for more currency trading tips.

As per today`s trading USD INR is trading around 64.47 with a trading volume around 376378 and value is at 2419.23 cr. This is one of biggest movement in year 2015.

Nasdaq Composite forecast updated on 07th May 2015, Thursday.

NASDAQ COMPOSITE

Nasdaq is now trading below its strong trend line support zone, this indicates weakness expecting and index will find its next support as shown in above graph. If index falls further then will find support at its previous bottom and at 200 days moving average, even last time index bounced back from its 200 DMA, but if index failed to holds above its previous bottom and 200 DMA and it closes below then further bears action can be seen in Nasdaq Composite.

Even index major trend indicator like "MACD" and "Stochastic Oscillator" is trading in negative zone this forecast that as long as they are moving in negative zone bears will be favored.

So far candlestick studies are also indicating weak signals close watch index can fall further in coming days. Visit our site for more free stock analysis and us stock market forecast.

On Wednesday trading Nasdaq closes at 4919.64 down by -19.69 points. The total share traded in Nasdaq was over 2.09 billion. There were 1302 advances and 1476 decline, out of this 52 stocks reached a 52 week high and 44 stock touched their 52 week lows.

Dow Jones intraday free tips updated on 07th May 2015, Thursday.

DOW JONES 

INDUSTRIAL AVERAGE (DJIA)

Dow Jones Index currently stuck in a range from last few months with no clear direction it is just moving in a zig zag mode, so far we can see from above graph that Dow is coming down from its trend line resistance zone as long as it is trading below its trend line bears will be favored and further round of bullish action can only be seen once Dow closes and holds above its resistance zone as shown in above image.

As per moving average studies, from the last few times Dow is bouncing back from 200 days moving average, this time also index will test its 200 days moving average, if this times index closes and holds below its 200 DMA then intraday we can see action.

Index major trend indicator "MACD" has turned negative if index breaks its support then weakness expecting as per trend indicator. Visit our site for more free intraday tips.

US stock market closes weak on Wednesday  it is mainly driven by the technology sector as world largest software company Microsoft fell more than 2 percent.

The Dow Jones Industrial Average dropper 88.22 points or .48 percent and it was closed at 17,841.98. S&P 500 index too fell down by 9.31 points or .45 percent to end at 2080.15. The Nasdaq Composite Index also fell down by 19.68 points or .40 percent and finished at 4919.64.

Market is now looking ahead on Thursday`s economic calendar which includes weekly job data