Daily Technical Analysis by FxGrow

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FxGrow Daily Technical Analysis – 13th Sept, 2016
By FxGrow Research & Analysis Team

EUR/USD BOUNCES TO 1.1224 INTRADAY AFTER CLOCKING A HIGH 1.1327 ON 8TH SEP WHEN DRAGHI RELEASED THE ECB

Right now, the EUR/USD is trading at 1.1224 8 AM GMT, and it's expected to be bearish reaching the first support at 1.1225 and below H5 PP 1.1233

Draghi will make an appearance today at 10 AM GMT, and the EUR will either makes a correction and shift info bull candle charts, or will continue dropping.

Keys to keep eyes on : H5 PP 1.1233

S1 1.1225, S2 1.1212, S3 1.1191, S4 1.1159

the other scenario: R1 1.1247, R2 1.1263, R3 1.1286, R4 1.1321

Remark : Both scenarios should be taken into consideration, the major factors that will set the course are traders buy/sell and Draghi's further speech on the ECB.

Trend: Bearish.

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.

 

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FxGrow Daily Technical Analysis – 14th Sept, 2016
By FxGrow Research & Analysis Team

OIL BOUNCES IN ASIA, STABILIZED TODAY AFTER FALLING 3% YESTERDAY AND ALL EYES ON EIA REPORTS TODAY

Oil prices changed course and attempted a recovery in the Asian trades, after having slumped 3% on bearish monthly reports from both the IEA and OPEC.

On Tuesday, oil prices rallied 3% after both the EIA and OPEC made downgrade revisions to their global demand forecasts, while also pointed out that the global crude oversupply could persist for much longer than expected. EIA advised that increasing supply along with a sharp reduction in demand will create a saturation of oil in the market. at least until June 2017 which is in noticed contrast to last's month where the agency noted that supply would fall by the end of the year. Mr. Eugen Weinberg, head of commodities strategy commented " It seems that the situation deteriorated strongly or significantly in the eyes of OPEC, as well as the EIA.

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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.

 

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FxGrow Daily Technical Analysis – 15th Sept, 2016
By FxGrow Research & Analysis Team

GOLD IS UNDER PRESSURE YET AGAIN FOR THE SECOND TIME SEP: EYES ON ECONOMIC CALENDAR

Once again this month, for the second week, gold today, is subject to a new test against the dollar. The question is, Will it pass and make a correction towards towards the 1350 zone or the greenback moves stronger creating a pressure on XAUUSD again to drop into the 1300 zone or even less. On the 2nd of Sep, Gold clocked a low 1302.31 but then rallied up again on the 6th of Sep reaching 1352.35 which is the climax score for Sep, then gradually started dropping, yet still.

Trend: Bearish Downward

Keys: H5 PP 1327.17, the first resistance is R1 1325.03 ( still below H5 PP ) which suggests the downward trend, R2 1322.32, R3 1335.82, R4 1339.96.

First Support S1 1316.21, below that, Gold will drop to second support S2 1312.49, then S3 1304.10.

Remark: Although the trend is bearish, but the opposite scenario cannot be excluded. Focus today at 1:30 PM GMT where major news on USD will be released and has a strong effect on gold.

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.

 

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FxGrow Daily Technical Analysis – 15th Sept, 2016
By FxGrow Research & Analysis Team

SILVER, STILL IN BEARISH MOOD FOR THE THE 7TH DAY, EYES ON U.S NEWS TODAY

What to expect from XAGUSD today? Silver rallied up on the 2nd of Sep till 6th clocking 20.129 Intraday, but then dropped, trading at the moment 18.912.

Trend: downward H5 PP 19.021

first Support S1 18.838 , S2 18.731, S3 18.626, S4 18.561

First resistance R1 19.066 , R2 19.123, R3 19.280, R4 19.379

Remark: Keep updated on economic calendar, today at 1:30 PM GMT, major U.S news will determine is the trend for the coming days.

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.

 

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FxGrow Daily Technical Analysis – 16th Sept, 2016
By FxGrow Research & Analysis Team

USD/CAD INTRADAY 1.3160 TRADING ZONE, AHEAD OF U.S CPI AND CANADIAN MANUFACTURING SALES REPORTS.

After clocking a high 1.3233 yesterday, reaching its highest through Sept, the USD/CAD dropped later on to 1.3132 the USD is still moving strong in the market against major currencies and commodities. The USD/CAD rallied up again in bullish trend since early this morning and expected to move more upward later today till 1:30 PM GMT when U.S CPI and Canadian Manufacturing Sales reports are released constantly. This will draw a better picture on how things will go after that.

Right now the USD/CAD is trading at 1.3165, and expected to continue moving upward.

Keys to look at: H5 PP 1.3155, first resistance at 1.3173, any break above that will trigger into the next zone at R2 1.3185, R3 1.3208, R4 1.3233

The alternative scenario cannot be excluded with first support S1 1.3141, S2 1.3112, S3 1.3079, S4 .13046.

Remark: Trend is upward, USD/CAD is going through strong buying process, later on trend will be determined by U.S and Canadian news on economic calendar today at 1:30 PM GMT. Keep your eyes focused.

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.

 

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FxGrow Daily Technical Analysis – 19th Sept, 2016
By FxGrow Research & Analysis Team

AUD/USD NOURISHING, IMPACT OF RBA AND AND MONETARY POLICY

The AUD/USD opened this morning in bullish candle charts climbing from 0.7475, rallied to 0.7544. The AUD/USD was moving strong against the greenback since beginning of Sep until the 8th of Sep where roles took a shit and the AUD dove in a bearish trend clocking its lowest during Sep 0.7442.

The Australian Monetary Policy and Governor of Reserve Bank meeting on 19th of Sep meeting objectives and goals were focused on the transparency and accountability in their relationship. This had the positive impact on AUD/USD and why it went upward.

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.

 

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FxGrow Daily Technical Analysis – 20th Sept, 2016
By FxGrow Research & Analysis Team

GBPUSD STARTS WITH THE SAME SCENARIO AS YESTERDAY, AFTER INVERTED HAMMER FORMATION

Just like yesterday, The GBP/USD started wit bullish trend, after dropping to 1.2998, the GBPUSD rallied again to 1.3046. Although there was buying pressure during previous sessions, the bulls were not able to sustain thee pressure and prices closed well off of their highs. Just like yesterday. Roles are mixed between GBP and USD, whose moving stronger facing each others.

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.

 

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FxGrow Daily Technical Analysis – 20th Sept, 2016
By FxGrow Research & Analysis Team

USD/CAD COMATOSE WITH BEARISH HAMMER CANDLES, WITH ABSENCE OF NEWS

USD/CAD is still moving neutral to bearish, taking a deep sleep ( comatose ) is trading movement in absence of crucial news that has major effect on the Canadian Dollar. CAD is still fighting trying to move stronger than USD, but with the absence of trust and faith in Canadian Dollar, the bearish movement is slight. Today, Poloz, governor bannk of Canada, will draw a better picture of how the Canadian will move facing USD and other pairs.

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.

 

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FxGrow Daily Technical Analysis – 20th Sept, 2016
By FxGrow Research & Analysis Team

GOLD STILL TRADING IN YESTERDAY ZONE 1310/1315, BELOW WEEKLY PIVOT 1315.30, BEARISH TREND INDICATION

Since yesterday, XAUUSD is still trading below weekly pivot, and failed to break it's first resistance station at 1317.79 which suggests a more downward trend into 1310 zone and maybe lower than that. With the absence of major news today that could affect gold, it's expected to trade between 1310 and 1317 area. Tomorrow, 21 Sep, the most important news during 2016 will be released by U.S government FOMC having huge impact on commodities (GOLD, Silver ), major currencies. In other words, tomorrow news set of rulers will be applied that will set the trend for the coming weeks, even months.

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.

 

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FxGrow Daily Technical Analysis – 21st Sept, 2016
By FxGrow Research & Analysis Team

EUR/USD FAILS TO SUSTAIN 1.12 ZONE, U.S DOLLAR STILL MOVING BULLISH AGAINST ALL CURRENCIES

EUR/USD is still trading since Friday 16 Sep below weekly pivot 1.1195. On Friday, EUR/USD clocked a high 1.1250 but failed to maintain this level, it dropped dramatically later trading now at 1.1138, still below weekly pivot which indicated a more bearish drop for later on. Today major news on U.S FOMC that will dictates the market trend for the coming weeks.

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.

 

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FxGrow Daily Technical Analysis – 21st Sept, 2016
By FxGrow Research & Analysis Team

CRUDE OIL JUMPED 1% ON WEDNESDAY, HOURLY CHARTS INDICATES STRONG BUYING, AWAITING EIA REPORT, LATER ON FOMC

Crude oil jumped 1% today, rallied up from 43.96 and clocked a high intraday 45.10 at crude oil opening. Crude oil is scoring bullish hourly candle charts and right now trading above H5 PP which indicates a more bullish trend ahead of crude oil inventories report today at EIA 3:30 PM GMT, later on FOMC at 7 PM GMT. The market might witness a high volatility of either mix trend ( if news were mixed ) or more bullish if EIA and FOMC reports supported the trend positively.

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.

 

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FxGrow Daily Technical Analysis – 22nd Sept, 2016
By FxGrow Research & Analysis Team

USD/JPY STANDS A GUARD AGAINST THE 100.00 DOOR, MAKES A REBOUND TO 100.60 ZONE 9 am GMT

The BOJ decision to leave the interest rates unchanged & take on a new policy keeping 10-year bond yields near zero caused massive wave of selling volumes. Add to that later on, the FOMC left rates the same, unchanged, changed ground rules as analytics were expecting an increase. The greenpack look weak and dragged USD/JPY into one month low. The USD/JPY is expected to trade in neutral area between first support S1 100.102 and first resistance R1 100.625. The only reason to break these barriers is today the U.S unemployment claims report at 1:30 Pm GMT which will cause am increase in buying and selling by traders that will either break either support levels or resistance levels.

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.

 

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FxGrow Daily Technical Analysis – 23rd Sept, 2016
By FxGrow Research & Analysis Team

USD/CAD FLIRTING WITH 1.3060 ZONE AFTER DROPPING TO 1.3000

The USD/CAD dropped to lowest near 1.3000 since 13 Sep then rallied up again trading around H5 PP 1.3060. The FOMC release leaving rates on the U.S Dollar unchanged and the U.S Unemployment Claims yesterday, made the Canadian dollar move stronger than the greenpack. The U.S dollar has been moving very strong facing major currencies and commodities until Wednesday FOMC, Later on Unemployment Claims yesterday. The USD/CAD might drop more today if the Canadian Core CPI 1:30 PM GMT came positive supporting the Canadian Dollar to move stronger than U.S Dollar, and vise versa.

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.

 

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FxGrow Daily Technical Analysis – 24th Sept, 2016
By FxGrow Research & Analysis Team

EUR/USD FLIRTING WITH 1.1220 ZONE, ABOVE WEEKLY PP, AHEAD OF IFO, LATER ON DRAGHI

The EUR/USD, right now trading in it's normal range after dropping to 1.1148 on 16th Sep. The EUR strengthen facing the U.S dollar, started a bullish and clocked 1.1257 on 22th Sep and right now trading in the 1.1235 range, also expected to increase later on today after last week press releases on the U.S economy.

Data wise in the Old Continent, the German IFO is expected to improve in all of its components for the current month followed by the speech of President M.Draghi and board member E.Nowotny.

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.

 

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FxGrow Daily Technical Analysis – 27th Sept, 2016
By FxGrow Research & Analysis Team

XAUUSD MAKES A CORRECTION DIVING NEAR WEEKLY PIVOT 1333.27, INTRADAY 1333.99

The yellow metal rallied up yesterday and clocked a high around 1342, later on started diving and opened with a bearish trend trading now around 1333.90.

makes a correction dropping near it's weekly pivot 1333.27 which suggests a more drop later today with heavy selling by traders.

Trend: Neutral Bearish , XAUUSD is expected to trade between R1 & S1

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.

 

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FxGrow Daily Technical Analysis – 27th Sept, 2016
By FxGrow Research & Analysis Team

METALS (XAGUSD) V.S U.S DOLLAR, SILVER SUCCESSES GAURDING THE 19 ZONE SINCE 20TH OF SEP

XAGUSD was moving strong facing the U.S Dollar last week after the disappointing FOMC report and analysis expectation. Silver clocked a high on 20.068 on 22th of Sep but failed to hold strong positions, it dropped later on the following days trading now 19.50 below its daily pivot point 19.61.

What to expect from Silver today and coming days ? Charts and numbers suggests a neutral bearish trend, trading between second support 19.40 and first resistance 19.57. Right now, traders are the key player in terms of price. Any significant change or major drop or rise should be entitled to Wednesday 28th Sep and Thursday 29th Sep press release on the U.S economy causing the U.S dollar to move strong facing metals and currencies.

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.

 

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FxGrow Daily Technical Analysis – 28th Sept, 2016
By FxGrow Research & Analysis Team

CRUDE OIL WATCH LIST, EYES ON ALGIERS OPEC TODAY'S MEETING, EXPECTATIONS AND FACTS

The long anticipated OPEC meeting will take place today Wednesday 28th Sep at 3:30 PM GMT, all eyes on crude oil inventories reports.

Statistics indicates 90% that the meeting will not result in an agreement on price targets agenda until next OPEC's next meeting.

Iranian and Libyan rising the supplies will glut and leave the market vulnerable to significant drops.

The conflict between Iran and Saudi Arabia still exist, but the Saudi's gave hints that they are open to further discussions regarding Iranian oil production, but most probably not in today's meeting. Moreover Iran rejected to limit its output in exchange of Saudi cutting supply.

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.

 

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FxGrow Daily Technical Analysis – 28th Sept, 2016
By FxGrow Research & Analysis Team

USD/JPY ACTING BULLISH AHEAD OF YELLEN, LATER ON BOJ

Some may wonder what the heck happened at 1 AM GMT on the 27th Sep causing the Yen move weaker than the U.S dollar! It's a simple explanation, lets go back to the timing and significant event was held. Clinton V.S Trump debate which lasted 90 minutes. At this time, European and U.S markets were closed, and Tokyo session has just opened which means more trading on USD/YEN and less on others.
Yen is more volatile than most other currencies due to the heavy competition between the most powerful financial poles in the world.

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.

 

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

GBP/USD OPENED WITH BULLISH TREND THEN SLIDES FROM 1.3060 REGION , DIGESTING NIGHT'S GAIN

The GBP/USD opened with a bullish trend rallying from 1.3012 and clocking a high 1.3058 but failed to hold the strong positions dropping to 1.3018 intraday, still above daily pivot 1.3010 which indicates an increase on GBPUSD.

key levels to watch: D1 PP 1.3010, first resistance R1 1.3032, R2 1.3064, R3 1.3094, R4 1.3119

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.

 

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

THE CANADIAN DOLLAR HIKED AS OPEC REACHED AN AGREEMENT

The Canadian Dollar received a positive shock yesterday as OPEC reached an agreement and traders reacted with confidence with strong demand on the Canadian Dollar.

USD/CAD dropped from 1.3269 scoring a record low since 26th Sep 1.3046. USD/CAD intraday 1.3093, still below it's daily pivot 1.3141 which indicates a bearish continuous trend for the coming hours and Canadian Dollar moving strengthen against U.S Dollar.

USD/CAD trading price will be more clear today after U.S releases it's final GDP q/q and Unemployment Claims at 1:30 PM GMT and the full picture tomorrow as Canadian GDP m/m will be published at also at 1:30 PM GMT 30 Sep.

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.