Daily Technical Analysis by FxGrow

[FxGrow Support]

FxGrow Daily Technical Analysis – 26th Aug, 2016
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD was indecisive yesterday as it touched a high of 0.7637 and a low of 0.7601 towards the end of the trading session. Aussie is moving in a bullish tone as it touched an intraday high of 0.7646 today and is now trading just below its 100day SMA of 0.7639 in the Asian trading session. The near term bias is Neutral to Bullish with targets of 0.7680

ADX (14), CCI (14), MA200 indicate a BUY; RSI (14), STOCH (9, 6) is Neutral; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 0.7583 while Resistance is at 0.7676 and 0.7722

26th Aug 2016 – 07:23AM (UTC)

USDJPY

USDJPY was indecisive yesterday as it touched a high of 100.61 and a low of 100.30 towards the end of the trading session. Dollar-Yen is moving in a zigzag pattern as it touched an intraday high of 100.61 and is now trading below its 100day SMA of 101.12 in the Asian trading session. The near term bias is Neutral to Bullish with targets of 100.75

STOCH (9, 6), STOCHRSI (14), MACD (12, 26), CCI (14), ROC indicate a BUY; RSI (14), ADX (14) is Neutral; while Average True Range indicates Less Volatility.

Support is at 100.09 while Resistance is at 100.68 and 102.65

26th Aug 2016 – 07:32AM (UTC)

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 26th Aug, 2016
By FxGrow Research & Analysis Team

XAUUSD[Gold]

XAUUSD was bearish yesterday as it touched a low of 1317.97 and remained weak towards the end of the trading session. Gold is moving in a consolidation phase today and is now trading below its 100day SMA of 1349.08 in the Asian trading session. The near term bias is Neutral to Bearish with targets of 1310

RSI (14), STOCH (9, 6), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC indicate a SELL; ADX (14) is Neutral; while Average True Range (14) indicates Less Volatility.

Support is at 1317.97 while Resistance is at 1328.35 and 1331.95

26th Aug 2016 – 07:37AM (UTC)

XAGUSD[Silver]

XAGUSD was indecisive yesterday as it touched a low of 18.48 and a high of 18.66 towards the end of the trading session. Silver is moving in a consolidation phase today and is now trading below its 100day SMA of 19.75 in the Asian trading session. The near term bias is Neutral to Bearish with targets of 18.40

RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC indicate a SELL; CCI (14) is Neutral; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 18.31 while Resistance is at 18.71 and 18.83

26th Aug 2016 – 07:46AM (UTC)

USOil.cfd

US Oil was indecisive yesterday as it touched a low of 46.43 and a high of 47.36 towards the end of the trading session. US Oil is moving in a consolidation phase today and is now trading above its 100day SMA of 44.20 in the Asian trading session. The near term bias is Neutral to Bullish with targets of 48.00

STOCHRSI (14), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC indicate a BUY; RSI (14), STOCH (9, 6), CCI (14) is Neutral; while Average True Range (14) indicates Less Volatility.

Support is at 46.40 while Resistance is at 47.91 and 48.73

26th Aug 2016 – 07:54AM (UTC)

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 29th Aug, 2016
By FxGrow Research & Analysis Team

EURUSD

EURUSD was unable to sustain to its bullish momentum and came down towards the closing session last week. Euro is moving in a mild bearish tone and is now trading below its 100day SMA of 1.1212 in the Asian trading session. The near term bias is Neutral to Bearish with targets of 1.1135

RSI (14), STOCH (9, 6), MACD (12, 26), CCI (14), ROC, MA100 indicate a SELL; STOCHRSI (14), Ultimate Oscillator is Oversold; while Average True Range (14) indicates High Volatility.

Support is at 1.1180 while Resistance is at 1.1217 and 1.1233

29th Aug 2016 – 08:25AM (UTC)

GBPUSD

GBPUSD was unable to sustain to its bullish moves and came down towards the closing session last week. Cable is moving in a mild bearish tone today and is now trading below its 100day SMA of 1.3100 in the Asian trading session. The near term bias is Bearish with targets of 1.3040

RSI (14), STOCH (9, 6), ADX (14), CCI (14), ROC, MA100 indicate a SELL; STOCHRSI (14), Ultimate Oscillator is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 1.3056 while Resistance is at 1.3117 and 1.3279

29th Aug 2016 – 08:37AM (UTC)

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 29th Aug, 2016
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD was unable to sustain to its bullish moves and came down towards the closing session last week. Aussie is moving in a zigzag pattern today and is now trading below its 100day SMA of 0.7638 in the Asian trading session. The near term bias is Neutral to Bearish with targets of 0.7500

RSI (14), STOCH (9, 6), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC, MA100 indicate a SELL; ADX (14) is Neutral; STOCHRSI (14) is Oversold; while Average True Range (14) indicates High Volatility.

Support is at 0.7488 while Resistance is at 0.7568 and 0.7583

29th Aug 2016 – 08:50AM (UTC)

USDJPY

USDJPY was bullish last week as it crossed the 102 handle and remained firm towards the closing session. Dollar-Yen is moving in a mild bullish tone today and is now trading above its 100day SMA of 101.08 in the Asian trading session. The near term bias is Bullish with targets of 102.55

RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), ROC, MA100 indicate a BUY; STOCHRSI (14), Ultimate Oscillator is Overbought; while Average True Range indicates High Volatility.

Support is at 99.98 while Resistance is at 102.83 and 103.39

29th Aug 2016 – 08:58AM (UTC)

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 29th Aug, 2016
By FxGrow Research & Analysis Team

XAUUSD[Gold]

XAUUSD was unable to sustain to its bullish moves and came down towards the closing session last week. Gold is moving in a consolidation phase today and is now trading below its 100day SMA of 1347.26 in the Asian trading session. The near term bias is Neutral to Bearish with targets of 1310

RSI (14), STOCH (9, 6), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC indicate a SELL; ADX (14) is Neutral; while Average True Range (14) indicates High Volatility.

Support is at 1314.15 while Resistance is at 1322.95 and 1325.05

29th Aug 2016 – 09:04AM (UTC)

XAGUSD[Silver]

XAGUSD was bearish last week and came down below 18.60 handle towards the closing session. Silver is moving in a consolidation phase today and is now trading below its 100day SMA of 19.64 in the Asian trading session. The near term bias is Bearish with targets of 18.40

RSI (14), STOCH (9, 6), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC, MA100 indicate a SELL; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 18.47 while Resistance is at 19.07 and 19.22

29th Aug 2016 – 09:10AM (UTC)

USOil.cfd

US Oil was bullish last week as it touched a high of 48.88 and remained above 47.00 levels towards the closing session. US Oil is moving in a consolidation phase today and is now trading above its 100day SMA of 44.55 in the Asian trading session. The near term bias is Neutral to Bearish with targets of 46.50

STOCH (9, 6), ADX (14), Ultimate Oscillator indicate a SELL; RSI (14), STOCHRSI (14), CCI (14) is Neutral; while Average True Range (14) indicates Less Volatility.

Support is at 46.40 while Resistance is at 47.91 and 48.44

29th Aug 2016 – 09:18AM (UTC)

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 30th Aug, 2016
By FxGrow Research & Analysis Team

EURUSD

EURUSD moved in a consolidation phase yesterday and was unable to break any new highs or lows. Euro is moving in a mild bearish tone and is now trading below its 100day SMA of 1.1212 in the Asian trading session. The near term bias is Neutral to Bearish with targets of 1.1115

RSI (14), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC, MA100 indicate a SELL; ADX (14) is Neutral; STOCH (9, 6), STOCHRSI (14) is Oversold; while Average True Range (14) indicates High Volatility.

Support is at 1.1157 while Resistance is at 1.1197 and 1.1217

30th Aug 2016 – 07:30AM (UTC)

GBPUSD

GBPUSD moved in a consolidation phase yesterday and was unable to break any new highs or lows. Cable is moving in a mild bearish tone today and is now trading below its 100day SMA of 1.3095 in the Asian trading session. The near term bias is Bearish with targets of 1.3030

RSI (14), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC, MA100 indicate a SELL; STOCH (9, 6), STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.

Support is at 1.3059 while Resistance is at 1.3119 and 1.3279

30th Aug 2016 – 07:39AM (UTC)

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 30th Aug, 2016
By FxGrow Research & Analysis Team

AUDUSD

AUDUSD had mild bullish moves yesterday as it touched a high of 0.7581 towards the end of the trading session. Aussie is moving in a mild bearish tone today and is now trading below its 100day SMA of 0.7638 in the Asian trading session. The near term bias is Neutral to Bearish with targets of 0.7500

RSI (14), STOCH (9, 6), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC, MA100 indicate a SELL; ADX (14) is Neutral; STOCHRSI (14) is Oversold; while Average True Range (14) indicates High Volatility.

Support is at 0.7524 while Resistance is at 0.7622 and 0.7676

30th Aug 2016 – 07:44AM (UTC)

USDJPY

USDJPY had mild bearish moves yesterday as it touched low of 101.92 towards the end of the trading session. Dollar-Yen is moving in a mild bullish tone today and is now trading above its 100day SMA of 101.07 in the Asian trading session. The near term bias is Neutral to Bullish with targets of 102.65

RSI (14), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC, MA100 indicate a BUY; STOCH (9, 6), STOCHRSI (14) is Overbought; ADX (14) is Neutral; while Average True Range indicates High Volatility.

Support is at 99.98 while Resistance is at 102.39 and 102.65

30th Aug 2016 – 07:50AM (UTC)

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 30th Aug, 2016
By FxGrow Research & Analysis Team

XAUUSD[Gold]

XAUUSD had mild bullish moves yesterday as it touched a high of 1324.94 towards the end of the trading session. Gold is moving in a mild bearish tone today and is now trading below its 100day SMA of 1345.98 in the Asian trading session. The near term bias is Neutral to Bearish with targets of 1310

RSI (14), STOCH (9, 6), MACD (12, 26), Ultimate Oscillator, MA100 indicate a SELL; CCI (14) is Neutral; while Average True Range (14) indicates Less Volatility.

Support is at 1322.25 while Resistance is at 1328.45 and 1331.55

30th Aug 2016 – 07:56AM (UTC)

XAGUSD[Silver]

XAGUSD had bullish moves yesterday as it touched a high of 18.88 towards the end of the trading session. Silver is moving in a mild bearish tone today and is now trading below its 100day SMA of 19.57 in the Asian trading session. The near term bias is Neutral

Support is at 18.38 while Resistance is at 18.85 and 19.22

30th Aug 2016 – 08:01AM (UTC)

USOil.cfd

US Oil had mild bearish moves yesterday as it touched low of 46.61 towards the end of the trading session. US Oil is moving in a mild bullish tone today and is now trading above its 100day SMA of 44.88 in the Asian trading session. The near term bias is Neutral to Bullish with targets of 47.75

ADX (14), CCI (14), ROC, MA100 indicate a BUY; RSI (14) is Neutral; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.

Support is at 46.40 while Resistance is at 47.74 and 48.44

30th Aug 2016 – 08:07AM (UTC)

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 02nd Sept, 2016
By FxGrow Research & Analysis Team

The EURUSD rose ahead of US payroll

The EURUSD turned higher and traded at 1.1208 high this morning above the 23.6% Fibonacci Expansion ahead of US employment change report. Weak US payroll today will open the door for euro fresh rebounds especially as it breaks the 100 days moving average 1.1215 to pave its way toward 1.1237 and 1.1266.

However, strong US data will encourage the Fed to raise rates in September and Wednesday 3 weeks low at 1.1123 put the EURUSD in a bearish form and cutting 1.1170 will flip backwards toward major support levels 1.1135 and 1.1097.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 02nd Sept, 2016
By FxGrow Research & Analysis Team

The British pound surged higher after strong manufacturing PMI

GBPUSD received a positive shock yesterday at 9:30 GMT that created a bullish rise to break 1.3300 zone.

The British manufacturing PMI yesterday came above expectation scoring 53.3 where forecast was expected to be at 49.1. This caused a positive shock in the market creating a bullish rise reaching 1.3317.

Then made a short drop as the rebound clear its way and trading near 1.3270 at these moments. It is expected the GBP will trade between 1.3233 & 1.3316.

Breaking these two numbers, we are looking at S1 and R1 at the same time.

first support S1 1.3233, S2 1.3154 , S3: 1.3066

First resistance R1 1.3316, R2 1.3333, if the price beat the R3 at 1.3350, expect a high at 1.3405

Weekly pivot : 1.3147

Trend: bullish

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 06th Sept, 2016
By FxGrow Research & Analysis Team

AUDUSD NOURISHED THIS MORNING AFTER THE PRESS RELEASE BY THE RESERVE BANK OF AUSTRALIA

AT 5:30 AM GMT, Glenn Stevens, Governor of Monetary Policy, decided to leave cash rate unchanged at 1.5%. The RBA rate statement was more hawkish than expected leaving the AUD in a continuous bullish rise since then. The AUDUSD started climbing from 0.7580 and still at the moment 7 AM GMT at 0.7628.

H4 Pivot 0.7620

First resistance R1 at 0.7633 , R2 0.7654 , R3 0.7663

First Support S1 0.7601 , S2 0.7582 , S3 0.7535

Trend is upward with a high chance to break first R1.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 06th Sept, 2016
By FxGrow Research & Analysis Team

The Japanese yen loses ground after kuroda comments

The yen was near one month low against the dollar and the USDJPY is now steadied around 103.55 as Kuroda acknowledges to expand stimulus. The USDJPY gained traction after Kuroda's speech on Monday signaling that the BOJ is going to expand the massive stimulus programme at its next meeting on September 20, and breaking 103.75 will pave its way toward 104.05 and 104.55.
Alternatively, BOJ might kept monetary policy steady given that the benefit of stimulus was preaching and cutting the strong support 103.00 will continue its bearish wave toward 102.80 and 102.50 respectively.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 06th Sept, 2016
By FxGrow Research & Analysis Team

Gold is till struggling on Tuesday but continues to rise in a poor range

Gold is till struggling on Tuesday but continues to rise in a poor range. Gold Friday's high was 1330.01, today's highest was 1329.77 10 AM GMT, which gives a hint of continuous rise today till 3 PM GMT where there are crucial news on USD. The Institute for Supply Management PMI will set a new course for gold trend. Right now the expected scenario for gold is to trade between 1328.30 and first resistance R1 1333.27, above that the price will trigger to the R2 at 1336.34, and constantly R3 1341.16.

Remark: all eyes are set at 3 pm GMT when the US ISM PMI announces the results. The possibility of downward trend can be taken into consideration with first S1 1321.59 , S2 1316.06 , S3 1310.30

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 07th Sept, 2016
By FxGrow Research & Analysis Team

OIL IS RISING, U.S ECONOMY IS NOT PLAYING UP TO EXPECTATIONS

Yesterday, crude oil shifted opposite into an upward trend when The U.S FED were put in a tough position yesterday releasing a press release summarized by this conclusion: The U.S economy is not playing up to expectations. At 3 PM GMT, oil rallied from 43.97 reaching a high 45.20 and expected to climb the ladder later today.

The crude oil trend is upward most likely, First resistance R1 at 45.40, the second resistance represents a strong point at 45.92 which might trigger a rise to R3 47.77

On the other hand, first support S1 44.07, S2 43.47, S3 42,50

Remark: upward trend , no crucial news today that would affect the mentioned scenario.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 07th Sept, 2016
By FxGrow Research & Analysis Team

USDCAD DROPPING FOR A THIRD CONSECUTIVE DAY

For the third consecutive day, USDCAD still dropping reaching it's lowest price since 12 days 1.2833 which suggest a downward trend this day according to charts and numbers. The focus today is at the BOC Rate Statement meeting press release, then Friday's meeting on Canadian Employment reports. In general, the Canadian trend is in the vague until the press release which will set a new course either more down and opposite shift upward.

keys and number to look at : H5 pivot 1.2849 - first resistance R1 1.2889, R2 1.2925 , R3 1.2940

First support S1 1.2827 , S2 1.2798 , S3 1.2764

Remark : trend is neutral to downward, all focus on Today's press release at 3 PM GMT BOC rate statement.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 08th Sept, 2016
By FxGrow Research & Analysis Team

Fibo level index is moving slightly bullish ahead of Draghi ECB press release

Fibo level index is moving slightly bullish ahead of the Draghi ECB announcement today. EURUSD clocked intraday highs around 1.1257 which is the highest since 29th of August 1.1206 allowing the EURUSD to catch a breath and it's expected to rise later on today.

The trend in general slightly upward but again the ECB press release today at 1:30 PM GMT will draw a better picture on how the EURO will continue. So both scenarios cannot be excluded.

Keys to look at: H4 PP 1.1224

R1 1.1265 , R2 1.1288 , R3 1.1308

S1 1.1229 , S2 1.1201 , S3 1.1186

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 08th Sept, 2016
By FxGrow Research & Analysis Team

Silver is still climbing for the 11th consecutive day breaking all expectations

XAGUSD is still climbing for the 11th consecutive day since 22th August and clocked 20.131 yesterday. Numbers and charts suggest a continuous bullish rise since 1 AM GMT this morning. Right now, silver is trading at 19.90 and expected to reach the first resistance R1 at 20.03.

Today we are looking into to extreme news ECB & Unemployment Claims in the U.S which will change the course of metals either more up rise or downward break. Either ways, we should look into the following keys: PP 19.963 , R1 20.030, R2 20.131, R3 20.245 , R4 20.482

S1 19.841 , S2 19.724 , S3 19.504 , S4 19.250

Remark: in general the trend is upward , but look into economic calendar at 1:30 GMT where Secretary Perez release U.S Unemployment claims and Draghi ECB.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 09th Sept, 2016
By FxGrow Research & Analysis Team

The Canadian Dollar started a bullish trend since yesterday at 10:00 AM GMT

The Canadian Dollar started a bullish trend yesterday at 10:00 AM GMT and clocked a high 1.293 ( R1) since 6th of August a high of 1.2933. Although the two numbers seem to be close but the indication is different. Since the first resistance is at 1.2937, the behavior of the trend is expected to continue in an uprise trend.

Remark: The Canadian dollar is expected to rise bullish later today until 1:30 PM GMT when Canadian statistics are released regarding employment change and unemployment rate which will create two possible scenarios with numeric keys as follows:

PP H5 1.2915 R1 1,2937 , R2 1.2951 , R3 1.2987 , R4 1.3037

S1 1.2885 , S2 1.2855 , S3 1.2819 , S4 1.2783

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 09th Sept, 2016
By FxGrow Research & Analysis Team

The euro edged up on Draghi's comments

The euro increased against the dollar and break the 1:1300 zone trading around 1.1320 as the European Central Bank kept interest rate unchanged.

The EURUSD is now trading a range between 1.1235-1.1285 as Draghi claimed that expanding its asset purchase program is improbable right now and the EURUSD needs to break 1.1305 again in order to pave its way toward near-term resistance levels 1.1340 and 1.1375.
However, the ECB stayed on a wait and see approach and kept the door open for further stimulus this putting some pressures on the euro and next support levels are found at 1.1212 and 1.1183.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 12th Sept, 2016
By FxGrow Research & Analysis Team

GBP/USD STRUGGLING AGAIN - The FED MONETARY POLICY SPECULATIONS TO TRADE AT SPOT

Postive comments from FOMC member Eric Rosengren on Friday 9th Sep energized expectations of an eventual Fed-hike action and helped the greenboogie to move in in strong positions facing major currencies. On the 9th of Sep, at 1 PM GMT, the GBP started a bearish mood dropping from 1.3325 to 1.3237 at 3 PM GMT as shown in the chart ( from G to H point ) which suggests a more drop in the coming hours and in the absence of major press news this monday on economic calendar.

The GBP/USD is trading right now at the H5 PP 1.3266 7:30 am GMT which indicates that the expected moving range for the GBP is to lay within R1 and S1.

Trend: slighty downward , wiht key numbers to take into consideration on support, resistance, and Bollingar indicators. H5 PP 1.3266 , Resistance one R1 1.3320 , R2 1.3359 , R3 1.3404. If the GBPUSD broke the first support S1 1.3234, look further down to S2 1.3208, S3 1.3154.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.