Daily Technical Analysis by FxGrow

[FxGrow Support]

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.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 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.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 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.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 – 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.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 – 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.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 – 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.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 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.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 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.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 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

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 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.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 – 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.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 – 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.
For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 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

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 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.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 Sept, 2016
By FxGrow Research & Analysis Team

BRITISH POUND STILL MORVING STRONGER THAN U.S DOLLAR, AHEAD OF CURRENT ACCOUNT REPORT

GBP/USD is still moving bullish since 16th Sep, dropping from 1.3247 30th Sep low to 1.2944. Right now, GBP is trading at 1.2954 closing to first support gate S1 1.2945 and expected to keep dropping as charts and numbers show. With daily pivot 1.2993, next to first resistance, it gives a picture of how significant the British pound has been moving facing the U.S Dollar.

Trend: bearish is the most likable trend, but an opposite shift cannot be excluded due to crucial news at 9:30 AM on GDP current account.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 – 3rd Oct, 2016
By FxGrow Research & Analysis Team

THE EUR EDGED UP AS DEUTSCHE BANK WORRIES WERE EASED

EUR/USD makes a correction atfter a dramatic drop that we witnessed last week, sideline next to Daily Pivot at 1.1235. EUR/USD dropped to it's lowest price 1.1153 since 22th of Sep but failed to break 1.1150 barrier as it was expected, then it started a bullish trend rallying to a high 1.1241 on Friday. Right now the EUR is moving a stronger than U.S dollar.

key levels to watch: trading at the daily pivot 1.1235

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 – 04th Oct, 2016
By FxGrow Research & Analysis Team

GBP/USD CONTINUES IT'S BEARISH MOMENTUM HEADING TO 30 YEARS LOW, AWAITING UK PMI

The GBP/USD kept dropping as Asian session opened hitting a low 1.2816 inching to 3 decades lows under 1.28. Yesterday, in respond to positive news in the U.S market, the greenback strengthen facing British Pound. Markets now await the UK construction PMI data, which may offer some respite to the GBP highs, while a test of post-Brexit lows is inevitable as investors continue to fret over the Brexit process.

Trend: bearish

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 – 05th Oct, 2016
By FxGrow Research & Analysis Team

USD/CAD ROSE IN RESPONSE TO STRONG U.S DOLLAR

USD/CAD began a bullish trend yesterday rising from 1.3110 (low) reaching a high of 1.3215. Confidence in the U.S Dollar was restored yesterday as US data upbeat expectations. As a result, the U.S dollar was moving very strong facing pairs and commodities. Add to that, outlook signs suggest that the Federal Reserve might be closer to raising interest rates sooner than later. Today's crude oil inventories and Canadian trade balance will either restore some dignity to the Canadian Dollar or the USD/CAD will continue its bullish trend.

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 Oct, 2016
By FxGrow Research & Analysis Team

EUR/USD SLIDES BELOW 1.1200, AWAITING TENTATIVE ECB

EUR/USD dropped yesterday from 1.1233 clocking a low 1.1189 after receiving a positive news on the U.S Dollar. Traders were awaiting the German factory orders at 7 AM GMT this morning which came disappointing. As a result, the EURO continues to suffer facing the greenback. EUR/USD still has a chance to redeem itself as financial analysts awaits the ECB meetings results as they hints for rising Euro-zone government bond, and later on U.S payroll data due on Friday. These two reports will give a better picture on how the trend of the EUR/USD will move, also because there are crucial news on the U.S market.

Trend: Bearish

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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 Oct, 2016
By FxGrow Research & Analysis Team

SILVER REMAINS BEARISH AFTER TUESDAY'S EXTENDED SELLOFF

XAGUSD started a dramatic bearish trend on Monday 3rd of Oct dropping from 19.31 (high) to 18.71 (low). Silver continued its bearish trend the following days hitting bottom 17.54, lowest since 28th Jun. The major drop is justified to positive news on U.S financial market starting by Monday. In addition to the increased expectations of a Fed rate hike by the end of the year given strong U.S economic projections. U.S dollar has been moving very strong against the metals awaiting further data to be released. Currently, silver is nearly unchanged at 17.70 an ounce. To summarize silver performance during this week, the shiny metal dropped this week from 19.31 clocking 17.54 lows (177pips). Tomorrow major news on U.S Dollar will give a wider image whether XAGUSD will continue diving or makes a correction and re-bounces.

Trend: Bearish

For more in depth Research & Analysis please visit FxGrow.http://fxgrow.com/analysis-educatio...alysis-fxgrow-free-forex-analysis-tools#close

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.