Daily Technical Analysis by FxGrow

[FxGrow Support]

FxGrow Daily Technical Analysis – 16th Nov, 2015
By FxGrow Research & Analysis Team

EURGBP - on the 3-months low

Since mid-October EURGBP moves in a downward trend. Trend is set by downtrend line led after the highs. Currently this trend line is at the level 0.7100. Today morning support was break below for a short time at the level 0.7040. This level stopped the declines for a two weeks. After this fakey price dynamically rebounded to 0.7100.

On EURGBP there is a downtrend in the force what was today confirmed by another new low. Only after permanent break above level 0.7100 traders can think about trend reversal. More likely is rebound and further declines with the test of strong support at level 0.6940. Before that test supply must break below two weaker supports 0.7040 and 0.6980. Since February 2015 EURGBP moves between levels 0.7480 - 0.6940 therefore test of support at 0.6940 should reach rebound and short-term uptrend movement.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 16th Nov, 2015
By FxGrow Research & Analysis Team

USDCAD - near 11-years high

In analysis of October 27 I pointed levels where price goes. I wrote: "Nearest target of upward movement there are two levels of 1.3215 and 1.3350. After its break above uptrend may continue". Today the price reached level 1.3350 which is 1,5 month high. If bulls will continue upward movement next resistances are at levels: 1.3430, 1.3470. The second level is at 11-years high. Alternatively if there was a rebound the next supports are at levels: 1.3300, 1.3230, 1.3180.

In the long term USDCAD moves in an uptrend since 2011, for this reason more likely is a new high than serious downward movement.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 17th Nov, 2015
By FxGrow Research & Analysis Team

EURUSD - new week, new low

Last week EURUSD achieved low at level 1.0674 and price rebounded. Traders expected stronger rebound, but that didn't happen. Rebound stopped after two days at level 0.0820 which was the nearest resistance. Since the beginning of the week supply strengthened the bearish pressure and support at level 1.0700 was broken. New 7-months low was established. Nearest weak support is level 1.0570. Strong support which can stop falls for a longer time is at level 1.0480. Test of that level is only a matter of time.

Since a month EURUSD moves only in one direction and for the last two weeks there is a small volatility. Nearest macro data which may result in a higher volatility is: today's consumer inflation and tomorrow's FOMC minutes.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 17th Nov, 2015
By FxGrow Research & Analysis Team

AUDCHF - trend reversal or only correction?

Today AUDCHF reached to 3-months high and also to a resistance. That level made reaction of the price many times this year. If that resistance (price range: 0.7225 - 0.7280) will be break above, next targets of that upward movement are at levels 0.7480, 0.7700. Alternatively if there will be a rebound, nearest support is at 0.7050 (uptrend line from last months) and next supports are at levels: 0.7000, 0.6890, 0.6720, 0.6600.

Wider view, time-frame D1

Since 2012 AUDCHF moves in downward trend. Strong price drop was at January 15. After further rebound falls were continued in downward channel. In August the price reached a new low and since that moment new upward movement has begun. Upper limit of downward channel was break above and AUDCHF has a chance for a new upward wave. Next resistances at daily time-frame are covering fibo levels. Only break above level 0.7700 give a chance that current movement is a new trend.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 18th Nov, 2015
By FxGrow Research & Analysis Team

EURJPY - on support and half-year lows

On Monday EURJPY reached to a six months low. That level 131.00 is also a strong support. After a failed attempt of break below it there was a rebound which at this moment isn't very successful. If price will rebound harder next resistances are at levels: 133.20, 135.20, 136.50. However if current support will be break below next targets for a demand are at levels: 128.80, 126.70.

Wider view, time-frame W1

From the beginning of 2015 EURJPY falls. There is a high probability that in a long term it is a new downward trend. Because of the fact that in years 2012 - 2014 price moved in uptrend and after first wave of falls and reaching fibo 38,2% downtrend wasn't end. Soon there can be a new lows and supports for them are at levels: 127.00, 120.00, 117.50.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 18th Nov, 2015
By FxGrow Research & Analysis Team

GBPPLN - above 6.0000, highest since 2006

In Poland today there was important political event. Prime Minister of the new government Beata Szydło gave expose. Very nervously was at PLN where high were established before that event. Finally, nothing alarming has been said. For example: Reduction of the CIT tax (corporate) to 15% and support for small and medium businesses, nothing about credits in CHF and "development, development, development".
After expose there was a slight decline on GBPPLN but in the longer term it moves upward. The correction that took place in August and September was fibo 61.8% of the previous 3-month upward movement. Uptrend can be continued and the next important resistance is much higher at level 6.3500. Alternatively, if current break above 6.0000 will be a fakey (false breakout) and price will return below that level there will be a plenty of supports to break. Nearby: 5.9750, 5.9100, 5.8700.

Time-frame D1

Time-frame Monthly

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 19th Nov, 2015
By FxGrow Research & Analysis Team

GBPJPY - on resistance and highest since August 2015

In previous analysis of November 6 I pointed trend line and support which should cause rebound. I wrote: "The trend line was tested for the third time and this time It can be broken. The first target of falls will be the level 184.50". Indeed price reached 184.28 and dynamically rebounded. GBPJPY back to uptrend.

Currently price reached to 3-months high and rebounded. The result was an unsuccessful attempt to break through resistance. If decline will be deeper next supports are at levels: 188.00, 187.40, 186.50. At the beginning of November at GBPJPY was a correction to fibo 50% of earlier upward movement. While uptrend line wasn't break below there is more likely back to uptrend. And if it will be and break above level 188.30 will be successful next targets for demand are at levels: 189.60, 191.30, 195.20.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 19th Nov, 2015
By FxGrow Research & Analysis Team

NZDUSD - dynamic rebound from 0.6430

On Monday NZDUSD broke below support at 0.6500. It seemed that declines may be deeper. However already first support at 0.6430 caused rebound. Currently dollar strengthenes at all of the battlefronts and this wave begun after FOMC minutes which were published on Wednesday. Fundamentally there are no reasons to rebound, because first hike of interest rate may - but do not have to - be during December FED meeting. Therefore this upward movement must be treated as correction as long as last high at 0.6880 is not broke above.

Next resistances which may cause declines are at levels: 0.6574, 0.6630, 0.6710. Alternatively if there will be rebound nearest supports are at levels: 0.6500, 0.6430.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 20th Nov, 2015
By FxGrow Research & Analysis Team

AUDCAD - new upward wave or triple top pattern

Previous analysis of November 12 gave a profit more than 100 pips. I wrote: "AUDCAD may test 0.9490. After break above this level target for the demand is at 0.9580, but fast break above is unlikely. If price rebounds, next supports will be located at: 0.9440, 0.9370". So it happened, price after reaching 0.9580 level rebounded and correction lasted a one week. Correction ended 8 pips below level pointed in analysis at 0.9432.
Today upward movement reached 0.9600 level. Triple top pattern may complicate breaking above this resistance If it succeeds next target for demand are at levels: 0.9630, 0.9740. A little higher that 0.9740 there is a downtrend line and that level certainly will make rebound and return to main trend which is downtrend. However if there was rebound right now nearest supports are at levels: 0.9490, 0.9440.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 20th Nov, 2015
By FxGrow Research & Analysis Team

USDCHF - highest since 2015

Dollar continues its uptrend rally on most of the currency pairs. Interesting situation can be seen at USDCHF, where price reached level in which was last time in the January 2015. Then it was finished by dramatically drop from 1.0230 to 0.7810. Since a month there is a dynamic upward movement without any bigger correction. Currently price reached to resistance and that level should bring declines or maybe even a deeper correction. Strong support levels are at 1.0000, 0.9900, 0.9500.

Wider view, time-frame monthly

Long-term perspective depends on what level USDCHF will end this month. Since 5 years there wasn't end of the month above 1.0000. If demand will end this month at current levels it will be more likely that upward movement will be continued in the next month. The next strong resistance are at levels: 1.0700, 1.1280.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 23rd Nov, 2015
By FxGrow Research & Analysis Team

USDJPY - resistance at level 123.20 is a trouble for demand

Since mid-October USDJPY moves in uptrend. This isn't a vertical upward movement, but higher highs and higher lows shows that trend is continue. Since two weeks demand has a problem with break above level at 123.20. Two times such attempt ended as fakey. Positive for the bulls is the fact that declines have stopped already at fibo 38.2% therefore bears do not have yet a lot to say.

If resistance at 123.20 will be break above next targets for bulls are at levels: 124.50, 125.20 and 125.85 which is this year's high. After leaving on a new high strong resistance is at level 135.15 which is high from 2002 year. If there was correction, nearest supports are at levels: 122.23, 122.00, 121.45.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 23rd Nov, 2015
By FxGrow Research & Analysis Team

AUDNZD - highest since September 2015

AUDNZD continue its upward rally. In November price increased more than 500 pips. There was a return to consolidation in which price moved from June to October (see orange lines).

Today demand has confirmed its strength breaking above resistance at 1.1027 and test of 1.1330 and 1.1440 levels seems to be a matter of time. Break above level 1.1400 give a signal to realization of huge head and shoulders pattern. Range of upward movement which is estimated by distance between head and neck line reaches to level 1.2560. In case of rebound nearest supports are at levels: 1.1027, 1.0950, 1.0880.

Time-frame H4:

Time-frame W1:

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 24th Nov, 2015
By FxGrow Research & Analysis Team

EURAUD – rebound from level 1.4700

Previous analysis of November 13 gave profit 350 pips. I wrote: "Support at 1.5150 was break below and downward movement is continuing in direction of level 1.5000. After break below support at 1.5000 target of falls will be 1.4730, 1.4400". Actually falls reached to level 1.4700 and yesterday was a rebound.

There is a possibility that at current level will be a rebound or even trend reversal because that level is supported by fibo 61,8% of previous upward movement. If rebound will be succeed resistances are at levels: 1.5000, 1.5270, 1.5500. However if support at 1.4700 will be break below nearest supports are at levels 1.4400, 1.4000.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 24th Nov, 2015
By FxGrow Research & Analysis Team

GBPUSD - downtrend returns after the end of simple correction

Dollar weakened today after statements of FED members regarding interest rate hikes. Rapid achievement of the inflation target of 2% isn't so sure at this moment and it may influent the rate hikes dynamics.

GBPUSD has returned to the main downward trend. All upward movements which took place since November 5 were a simple ABCD correction. That correction was harmonic CD = 61,8% * AB. Supports at levels 1.5250, 1.5120 were broken below. Nearest target of falls is low of November at level 1.5035. After its break next support is at level 1.4970 (April 2015 level).

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 25th Nov, 2015
By FxGrow Research & Analysis Team

AUDUSD - rebound reached to resistance

Since November 19 on AUDUSD is rebound because downtrend line was break above. Upward movement reached to resistance at level 0.7270 and 30 pips higher at level 0.7300 there is fibo 78.6% of previous downward movement. If demand will be strong next resistances are at levels 0.7340, 0.7420. However if there will be a rebound, nearest supports are at levels 0.7250, 0.7210, 0.7080.

Wider view. time-frame W1

Since 2011 AUDUSD moves in downtrend. At this time price moved down by 4000 pips. Low was tested at August 2015 at level 0.6900, it was important level 7 and 11 years ago. However if that support will be break below falls may reach to more important support at 0.6350.

For more in depth Research & Analysis please visit FxGrowhttps://secure.fxgrow.com/b.php?cid...yb3cuY29tL3Byb21vX2RldGFpbHMucGhwP2Fkc19pZD02.

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 – 25th Nov, 2015
By FxGrow Research & Analysis Team

EURUSD below 1.0600 - getting closer to test of this year's low

Today's macro data series from the US economy led to a further strengthening of the dollar. Published data of durable goods orders are better that expected and US citizens income raised month to month. What is more, jobless claims fell by 13000.

It is another week when EURUSD deepens its lows. And it's hard to think about bigger rebound while low of this year wasn't tested again. Target for declines is at level 1.0500 and there should be rebound. Because for a quite long time EURUSD falls without any correction. If there will be rebound nearest resistances are at levels: 1.0600, 1.0680, 1.0730.

Time-frame M30:

Time-frame D1:

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 26th Nov, 2015
By FxGrow Research & Analysis Team

USDCAD - another test of resistance 1.3400 without a deep rebound

On Monday for the second time was tested resistance at level 1.3400. Right now rebound after that test is low. First test was in September 29 and rebound regressed price of 550 pips what took two weeks. In the coming days demand should to carry out another attack at the resistance. Deeper declines appear only when dollar start a correction of the current strengthening. Importance of level 1.3400 is visible only at monthly interval. At this level the price reacted many times in the years 1992-2005. If this resistance will be break above next target for demand is at the level 1.3860. However if there will be a rebound nearest supports are at levels: 1.3280, 1.3180 and 1.3060 which is strengthened by uptrend line.

Time-frame H4

Time-frame Monthly

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 26th Nov, 2015
By FxGrow Research & Analysis Team

AUDJPY - rebound from important resistance

After dynamic falls in August, AUDJPY did not deepen established lows. Even more upward movement is getting stronger. Demand has exceeded the fibo 61,8% level of August's downward movement. Strong resistance, which make rebound is the downward gap from August 24. Break above 89.30 will be a strong buy signal.

However at this moment it is more likely that decline will be a little deeper before demand will test for the second time pointed resistance. Nearest supports are at levels 88.10, 87.40, 86.50, 85.50. If 89.30 breaks next resistance is at 90.30 but upward movement could reach much higher.

Time-frame H4

Time-frame D1

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 27th Nov, 2015
By FxGrow Research & Analysis Team

EURJPY - this year's lows at the viewfinder of supply

Since half year price moves in downward trend. On last Friday supply break below important support at 131.00 level. Today EURJPY drop below 130.00. Nearest target of declines is level 128.80. Below it is strong support at 127.20 level. Currently it is more likely if there won't be any macro data which could make upward movement, only 127.20 level could make a rebound.

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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.

 

[FxGrow Support]

FxGrow Daily Technical Analysis – 27th Nov, 2015
By FxGrow Research & Analysis Team

EURGBP - two weeks in consolidation of range 100 pips

EURGBP moves in consolidation after strong wave of sell-off started on mid-October. Price moves between 0.7080 - 0.6980. If price break below support at 0.6980 level next support is low from this year's July 0.6935. After its break, next support is at 0.6600 level, which was in the game in 2004 - 2007 years. However if supply will be strong enough and 0.7080 level will be break above, next supports are at levels: 0.7100, range: 0.7130 - 0.7150, 0.7200.

For 6 years EURGBP moves in strong downward trend. The next lower lows and lower highs are break by corrections and it confirms current downward trend. Therefore there is more likely break below from the lower limit of that consolidation.

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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.