FxGrow Daily Technical Analysis – 08th Sept, 2015 By FxGrow Research & Analysis Team
AUDJPY it's time for a rebound
In July and August AUDJPY moved in consolidation between the levels of 89.15 - 92.65. Break below pointed minimum of 24 August triggered a sharp move down. On the same day AUDJPY started to rebound, which achieved 50% of last downward move. August 24th bottom at the level of 82.00 was tested again last Friday. Rebound can be weak and successful pressure of the bears on level 82.00 will move down to the next support of 79.50.
Alternatively, if the bears will not aggressively push this rebound may come to the last resistance level at 87.30 and only there return to the declines.
Time-frame H1
For two weeks AUDJPY is moving in a downward channel. The lower limit of the channel was tested on Friday and rebounded. Today AUDJPY broke above upper limit of the channel. If this break was fakey last minimums will be again under pressure of sellers.
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 Daily Technical Analysis – 08th Sept, 2015 By FxGrow Research & Analysis Team
EURUSD prepare for long movement
EURUSD after a false breakout above the triangle on August 24 returned to its range. Currently, the volatility is very small which normally ends with a dynamic movement. Policy of central banks suggests that the move could be down. From the one hand we have the FED meeting and possible rate hike. On the other hand, the ECB, which is in the middle of the QE program trying to weaken the euro. Break below the last support should lead price to a lower limit of the triangle (that is 1.0780).
Time-frame M30
Since the week beginning EURUSD moves in a upward channel. Today price tested lower band of the channel, chich caused the rebound. Break below lower band of this channel will be the first signal of upcoming falls.
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 Daily Technical Analysis – 09th Sept, 2015 By FxGrow Research & Analysis Team
GBPCAD waiting for test of fibo 50%
GBPCAD moves in an upward trend since 2013. Last two weeks were correction declines. Declines are very flat and even failed to reach fibo 50% of the last upward movement. This forces the behavior of skepticism about the further fast move up. Especially that GBPCAD reached levels which for many years make an important support or resistance. There are no signs of reversal the upward trend, but a correction or side movement at the moment are very likely. Fibo level of 50% 1.9550 may be tested in the near future. Today we can observe the dynamic movement due to the decision of the Bank of Canada on interest rates.
Time-frame H4
The nearest resistance WHERE price is already moving is at 2.0590. Support is at 2.0100. It is possibile that the price will test resistance and rebound to the support.
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 Daily Technical Analysis – 09th Sept, 2015 By FxGrow Research & Analysis Team
EURCHF false-break from upward channel
Yesterday EURCHF has reached its highest level since 16 January. Bulls failed to stay over the resistance at 1.0960. There has been a rebound and return inside the upward channel. Price moves in a channel for a month and it is possible that now will move to the lower limit of that channel.
Right now, very important levels are 1.0960 and 1.0720. Their break will indicate the direction for some time. Currently, return to upward movement is more likely.
Time-frame M30
M30 time-frame looks more optimistic. After reaching new high there has been downward correction that stopped on the support near fibo 61,8%. EURCHF already may be after the correction and price will return to upward trend.
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 Daily Technical Analysis – 10th Sept, 2015 By FxGrow Research & Analysis Team
GBPJPY - correction that lasted three months may be near the end
GBPJPY is moving in an upward trend since 2012. Last three months was a correction descent and the inability to reach a new high. Level 195.80 stopped move up and it is a historical resistance. Recent upward movement from April to June 2015 have been corrected for less than 78.6%. Rebound from support of 180.40 caused the move up which stopped at the first resistance 185.20. Break above that resistance will cause move to 195.00, where bulls will try to end current correction. Alternatively, if the GBPJPY break below support at the 180.40 price will fall to 175.00.
Time-frame H1
For a week GBPJPY moves in an upward channel. Currently, the lower limit of the channel is located at 184.50 and top of the channel 187.30. Breaking down the channel will signal that the price could soon retest the support at 180.40.
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 Daily Technical Analysis – 10th Sept, 2015 By FxGrow Research & Analysis Team
AUDUSD came close to an important support Wide view, time-frame W1
Since 2011 AUDUSD moves in a downward trend. At the daily time-frame we can determine channel, in which the price moves. At this moment nothing indicates the possibility of trend reversal, but it is already very close to important support at 0.6780. Rebound from this support can cause upward movement of about 800 pips. Alternatively, if bears proves to be stronger next resistance will be at 0.6010.
Time-frame H4
The downward channel is also on a smaller interval. Today AUDUSD broke above downward channel. Correction of last downward movement should reach a minimum to fibo 38.2% (level 0.7100). If bulls prove to be strong enough, then reaction event to 0.7230 will be possible. There is the nearest resistance and the fibo 61.8%.
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 Daily Technical Analysis – 11th Sept, 2015 By FxGrow Research & Analysis Team
EURCAD time for a decision - up or down after reaching the September's top.
Wider view D1
EURCAD since April 2015 moves in upward channel. At the end of August we saw an unsuccessful attempt to broke above the Upper limit of the channel, which resulted in return to its lower band. Bulls started their purchases and there has been a rebound. After breakout strong resistance at 1.5560 has been tested. Price in the long term moves in a downward trend. 1998, 2008, 2014 highs, were followed by lower tops and lower lows.
Time-frame H1
On 28 August EURCAD moved in a side trend between support 1.4600 and resistance 1.5000. Since the beginning of September another resistance at 1.4920-1.4940 was formed, which today was broke from below. After breakout, the price has moved up about 50 pips where was stopped by even stronger resistance 1.5000. If this next resistance will be broken, the next targets will be in sequence 1.5200, 1.5430 and a peak of August 24 1.5560. However, if the bulls not be able to sustain upward movement and the price will return below 1.4940, the test of the March bottom on the level 1.4600 would be likely.
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 Daily Technical Analysis – 11th Sept, 2015 By FxGrow Research & Analysis Team
GBPAUD - waiting for exit from consolidation
Time-frame H1
Since the beginning of September GBPAUD moves in a side trend between resistance at 2.2100 and support 2.1670. Break above this resistance will lead price to 2.2400 which is the last top established on 24 August. Alternatively break below this support will bring price around 2.1500 - 2.1450.
Wider view, time-frame D1
Since 2013 GBPAUD moves in an upward trend. Nearest strong resistance is around 2.2600 - 2.2800. But to get to that area bulls must break above the last high. Since April 2015 the price moves in the upward channel. Currently range of this channel is 2.1600 - 2.2500. Breaking one of these levels will set the future direction for a while.
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 Daily Technical Analysis – 14th Sept, 2015 By FxGrow Research & Analysis Team
USDJPY breakout of the triangle will point the direction of move
Since 3 weeks USDJPY moves in a triangle, whose lower and upper band have been tested for two times. Correction which lasts for a month was abolished by 61.8% (so amounted to rebound after drop). This suggests that there is still more likely to continue correction than the end of it and return to move up. In the triangle we are slowly running out of space. If the market will react on that formation effective break out will point further movement.
Wider view D1
Since 2012 USDJPY is moving in an upward trend. At that time the price rose from 76 in January 2012 to 120.50 last Friday. At the level of the maximum of August, price was recently in 2002. For now this resistance stopped further upward movement. On the other hand strong suport is on the level 116. Last time it was tested in 24 August. This support for almost a year does not allow price to fall.
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 Daily Technical Analysis – 14th Sept, 2015 By FxGrow Research & Analysis Team
AUDCAD current rebound reached to fibo 50%
According to the analysis for the beginning of September the price has tested the support 0.9160 (from 2013). Support was target for the bears and for the bulls. The bears were closing short positions and the bulls were opening a long positions here. As a result, the weekly chart shows the strong bull candle, which stopped at the resistance. On the weekly chart, we can draw quite precisely the downward channel, in which the price moves for 1.5 years. At this moment bulls are trying to break above resistance at 0.9400. If it proves successful the level of 0.9740 will be the target of upward move.
At the time-frame H4 we can see smaller channel. An attempt of broke below has failed and today the bulls are trying to break above the channel's top. If the bulls succeeds the next resistance will be at 0.9480. However, the current level is a 50% Fibonacci retracement of last downward move and it may cause bears reaction.
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 Daily Technical Analysis – 15th Sept, 2015 By FxGrow Research & Analysis Team
GBPJPY - test of the rising trend line
After a period of much volatility in the last few days the movement of price is in the consolidation. The current support defending against falls is in the level of 184.20, and resistance that will stop further rise in the price level is 186.80. If the bears will break below pointed suport, the target of falls will be 180.40. Alternatively, break above of consolidation can bring the price to 195.00.
Wider view D1
At the interval D1 GBPJPY is still moving in an upward trend and the trend line was tested last week. However if the bulls will show weakness, and led to the next level test September minimum break of the trend line could become a reality.
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 Daily Technical Analysis – 16th Sept, 2015 By FxGrow Research & Analysis Team
EURGBP - weakened bulls and fundamentals confirm the possibility of falls
Since three weeks price moves in consolidation. Near resistance, which stops the upward movement is on 0.7400. Resistance was tested two times, so the third time also should be failed. The nearest support level is 0.7240, and its break below will cause the price movement to 0.7160. Last rebound from the support was not as strong as the previous one. This suggests that the bulls are weakening.
Wider view W1
Since 2013 EURGBP fall from 0.8765 to 0.7000 in August 2015. This year the falls slowed, from January price moves in the channel. Fundamentally, the euro should continue to weaken because of the divergent policies of central banks. The Bank of England is on the way to interest rate hike. While the European Central Bank is in the middle of monetary policy easing program. For this reason, we are now seeing rather sorth pause of falls than the beginning of a trend reversal.
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 Daily Technical Analysis – 16th Sept, 2015 By FxGrow Research & Analysis Team
USDTRY - level 3.0000 may cause a correction?
An interesting situation on USDTRY (US dollar to Turkish lira). Price is in impressive upward trend since 2010. At the beginning of September level of 3.00000 was broke above and many investors became interested. Because since two years, there wasn't a bigger correction. For now, at such a strong uptrend short positions would be risky, but USDTRY is worth of attention.
The nearest resistance is at 3.07000. Close support is 3.00000, and after it has been broken below the next support level is on 2.90000. The second support also reinforces the 38,2% Fibonacci retracement of last upward move. However only break below the next support which means fall below the 2.80000 will be a warning of USDTRY deeper correction. The last pointed level is also the 61,8% Fibonacci retracement of last upward move.
Time-frame H4
Time-frame W1
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 Daily Technical Analysis – 18th Sept, 2015 By FxGrow Research & Analysis Team
GBPCAD - the bulls are not giving up
Since beginning of August GBPCAD move up 500 pips from the bottom and it is moving in the upward channel. On Thursday upward movement was stopped on the resistance 2.0530. However bulls could break it soon. Upward movement may take place in the channel and bring the price to the August high on 2.0900. Alternatively, if the move up are not continued the supports for the bulls will be at the levels 2.0260 and 2.0030.
Wider view, interval monthly
Since 2013 GBPCAD moves in upward trend. The next resistance were broke by bulls with success. Last month, the price reached to the next significant resistance at 2.0900 and on the monthly chart appeared downward candle with a long upper shadow. Bulls are not surrending, and after almost three weeks of September recovered half of August candle. Too fast attempt to break through this resistance may end with deeper correction. So the best thing that bulls may do is to wait on the consolidation below the resistance.
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 Daily Technical Analysis – 18th Sept, 2015 By FxGrow Research & Analysis Team
AUDJPY in consolidation, nearest resistance could be a chance for a short
After August decreases – which culminated on August 24th – price finally rebounded. Rebound reached 50% Fibonacci retracement of last downward move, then AUDJPY returned to falls. That bottom at 82.10 with an accuracy of 2 pips confirmed its strength as a support. Price approached the resistance of the last 3 weeks. If bears takes the initiative near 87.25 the further test of August's minimum will be possible. However if an attack on the resistance succeeds the next resistances will be on 89.40, 92.40.
Wider view, time-frame W1
In the long term since mid-2009 AUDJPY moves between levels 72 - 104. Last year after getting closer to the upper limit of this range falls occurred. Since then the price moves in a downward channel, the lower limit has been tested in early September. If the bears will take the control now a bottom of 2015 can be deepened. Alternatively, if the bulls shows strength upward move can reach 92.00 in the long term.
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 Daily Technical Analysis – 18th Sept, 2015 By FxGrow Research & Analysis Team
NZDUSD - Bulls on the offensive, the target of upward movement is 0.6700
Thursday's Fed meeting turned out to be very negative for the dollar bulls. At NZDUSD shortly after the FED's decision followed attempt of break above resistance at the level 0.6400. The attempt proved to be false and the price returned creating a false breakout on the chart. The dollar weakened today to the main currencies EURUSD has exceeded 1.1400, GBPUSD went over 1.5600. Also on NZDUSD bulls decided to try attacking again on yesterday's resistance. At this moment, the resistance has been broken above and we should see upward move to 0.6500 level, and this area should appear of correction. When it appears it could bring price to re-test of resistance at 0.6400, a level which has now become the new support. If level 0.65 will be also break above, it will open the road to a level 0.6700, which should stop upward movement for a longer time.
Wider perspective
Since the middle of 2014 NZDUSD is in a downward trend therefore the current rally still should be regarded as a rebound.
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 Daily Technical Analysis – 21st Sept, 2015 By FxGrow Research & Analysis Team
EURAUD - breakout from the consolidation will indicate the direction of movement
Since last week EURAUD can't go away from the level of 1.5770. The downward movement stops at support 1.5660, and move up stops at resistance 1.5940. Dynamic upward candle, which took place on Thursday after the Fed decision also does not help with consolidation breakout. If break below that consolidation will be successfully next support on 1.5600 has a chance to cause a rebound. On the other hand, the break above resistance 1.5940 will take price first to 1.6160 and next to 1.6600.
Wider view, interval W1
At weekly interval we can indicate another significant levels. After breaking down the 1.5600 level, the downward movement may reduce price to 1.3800. But break above the level 1.6600 will bring the price to 1.7400.
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 Daily Technical Analysis – 21st Sept, 2015 By FxGrow Research & Analysis Team
USDJPY waiting for the triangle breakout
Since one month USDJPY moves in the triangle formation. Its range of movement is clearly slowing down. Therefore, the breakout of the triangle in one direction will bring dynamic movement. Currently, the lower arm of the triangle is 119.20, and the upper arm 120.90. If the lower arm of the triangle breaks below, downward movement will lead price to 118.30. If that support also will not stop the falls the next target of downward move is the August minimum at 116.10.
However, if bulls break above the upper arm of the triangle the next levels of resistance will be located at 122.00 and 125.20. Successfull break above that levels will confirm that the correction on USDJPY has now been completed and the price goes back to the uptrend.
Wider view, interval W1
Since 2011 USDJPY moves in upward trend. At this time bears failed to correct upward movement even on the smallest Fibonacci level of 23.6%. If falls finally comes, level 114.00 which is 23.6% fibo will be the first target.
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 Daily Technical Analysis – 22nd Sept, 2015 By FxGrow Research & Analysis Team
EURUSD rebound from the resistance, target of falls 1.1090
Last Thursday EURUSD has reached to 1.1460 and that level cause rebound. The first support, which could stop the descent was the level of 1.1214 but bears broke below it. Another support which price is aiming is around 1.1145 - 1.1135. If the price reaches to that area and it will be breaking the next target of falls will be 1.1090. Since Thursday EURUSD also moves in a steep downward channel which reflects well on the strength of bears.
Wider view, interval D1
In 2015 EURUSD moves in the consolidation between the levels 1.1460 - 1.0460. Indicated top was a false break only for a while in August. And indicated bottom has been tested only once in March and in the following months the price stopped already at higher levels. The last important support is 1.0815.
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 Daily Technical Analysis – 22nd Sept, 2015 By FxGrow Research & Analysis Team
USDCAD – false break of consolidation lower limit
An interesting situation in the USDCAD. For a month price moved in the consolidation between resistance 1.3320 and support 1.3130. Last Friday there was an attempt to break below the support that lead the price to the level 1.3010. On that support bulls returned to the game. On the daily chart a long lower shadow appeared and USDCAD returned to the consolidation range. Currently, the price is moving to the upper limit of consolidation on the level 1.3320.
It is worth to note, that the USDCAD moves in a long-term uptrend, and often false breakout from the consolidation in one direction ends with a proper breakout in the opposite direction. If such situation will take place it will follow the main trend. A minimum target of upward movement is a level 1.3800.
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.
