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FxGrow Support
Number of messages : 519
Date of Entry : 2015-08-18

Re: Daily Technical Analysis by FxGrow

on Tue May 09, 2017 8:24 am
FxGrow Daily Technical Analysis – 09th May, 2017
By FxGrow Research & Analysis Team

Gold Remains Under Pressure With Sideways Trading, Technical


Gold dipped yesterday to 1220 but managed to reject bear forces and climbed back to 1236 high, then retreated to 1230 level at which the precious metal found hard time breaking creating a strong support. Later on, 1230 failed and plunged to 1225 as U.S Dollar hiked to 99.03 high. Gold currently trading 1228, and if the XAUUSD stayed below 1228 (H5 Pivot), expectations for further declines towards 1225 S1, in case of penetration, 1218 will be the next destination.

The other scenario, long positions above 1228, market should expect buying demand seeing 1235 a the first station. If gold breaks 1235, traders should see 1239, 1240 as the next stage for gold bull forces. In absence of vital U.S economic news, gold should trade between support and resistance. Price range most preferable is between 1225 and 1236. Keep an eye on U.S Index levels, in case of strengthening, expectations of pressuring yellow metal aligned with congestion. Be careful from set backs at a first test on both support and resistance, only long positions below or above S&R can confirm gold's next destination.

Trend: Bearish , but sideways trading is more expected.

Five hours pivot 1228

Resistance levels: R1 1231.94, R2 1235.78, R3 1240.21

Support levels: S1 1225.04, S2 1221.95, S3 1218.66


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
Number of messages : 519
Date of Entry : 2015-08-18

Re: Daily Technical Analysis by FxGrow

on Wed May 10, 2017 11:49 am
FxGrow Daily Technical Analysis – 10th May, 2017
By FxGrow Research & Analysis Team

The Rift Between OPEC And U.S Fluctuates Oil Levels, Eyes on U.S Inventories


Fundamentals:

The conflict between OPEC and U.S with opposed interest seeking high and lower oil prices becomes clearer as events accelerate, creating high volatility between ups and downs for oil. It's obvious that the two parties (OPEC and U.S), OPEC and Non-OPEC counties are highly dependable on crude oil as a source of economical income and they are sufficient as local production, whilst the U.S local oil production does not cover up its local demand, not to mention crude oil imports. Add to that, U.S Shale production is more expensive than oil produced by OPEC counties. Recent Tax plan released by Trump's administration, cutting corporate tax from 35% to 15%, was highly questioned by analysts as the plan itself, could lead to U.S trade deficit, and since U.S is the highest consumer for crude oil after China, you can understand clearly why the U.S will do its best, keeping markets glutted with oil supply, which logically results in lower oil prices taking into consideration that supply overpasses demand.

On the other hand, OPEC recent meeting and next meeting still in Vienna, focuses on one title, cutting or reducing their oil production in order to curb global glut, keeping it below global demand would result in higher oil prices. OPEC also followed a tactic where a report is released on monthly basis, measuring oil production compliance as a reminder that the higher a compliance is, markets would take the cutting-production-deal more serious, hence pushing oil prices higher.

Now we have established the above fundamentals, traders can understand why oil prices were highly fluctuating like ping pong recently, a strike from U.S, and a respond from OPEC. The sharper tone that the strike is, the more impact it has on oil bullish and bearish forces.

On Friday, oil dipped to $43.73 bp, lowest since Nov-2016, after signs in the Straits of Malacca, dozens of tankers loaded with record amounts of unsold fuel show an OPEC-led agreement to cut production in the first half of 2017 has yet to tighten the market.

Yesterday, Crude levels remained bearish with a higher low than Friday at  $45.52 bp after the American Petroleum Institute (API) reported a hefty draw of 5.789 million barrels in United States crude oil inventories, compared to analyst expectations that markets would see a crude oil draw of 1.8 million barrels for the week ending May 5. (Reuters).

Other factors contributed to crude bearish prices report released yesterday showing that Libya’s oil production has reached 780,000 barrels per day – the highest level since October 2014, according to new data collected from an anonymous source by Bloomberg. Oil prices have been tumbling since last week, when both Libya and Nigeria – the countries exempt from OPEC’s production reduction deal – reported climbing outputs as the nations recover from years and months of domestic strife, respectively.

Oil managed to recover from yesterday's lows after Reuters reported that Saudi Arabia would cut supplies to the region as OPEC battles against rising U.S. output that is threatening to derail its attempts to end a sustained global glut in crude. State-owned Saudi Aramco will reduce oil supplies to Asian customers by about 7 million barrels in June, a source told Reuters, as part of OPEC's agreement to reduce production and as it trims exports to meet rising domestic demand for power during the summer.

Today, crude oil showed stingy price action with 34-pips with 46.34 high, indication low volatility and it's expected to remain still, but market should expect higher movements for oil as U.S released its Crude Oil Inventories at 2:30 PM GMT.

Summary: Crude is expected to remain bearish for the short run given the date distance between API reports showing an increase supply, and OPEC and Non-OPEC next meeting on May 25th. On the short run, traders trade on the fact the U.S currently has the upper hand with messages that markets are glutted, and since doubts still revolves around OPEC next meeting and its possible outcomes taking into consideration that OPEC has insisted that the compliance should be mutual by both OPEC and Non-OPEC counties.

Technical Overview:

Trend: Bearish

Resistance levels: R1 46.74, R1 47.82, R3 48.99 (D1)

Support levels: S1 45.69, S2 44.93, R3 44.10 (D1)

Comment: Friday's spike reversal still suggests an extreme bottom. Look for retracements over the next few days. We may yet see residual bear forces pull trade down into the spike, but suspect support will emerge at 44.93*. A close under 4493* is needed to resume washouts. Likely any congestion in the upper half of Friday's reversal will help bottom the market and lead into recovery rallies. A close over 47.47*/47.82* are bullish.

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.
FxGrow Support
Number of messages : 519
Date of Entry : 2015-08-18

Re: Daily Technical Analysis by FxGrow

on Wed May 10, 2017 4:09 pm
FxGrow Daily Technical Analysis – 10th May, 2017
By FxGrow Research & Analysis Team

Gold Remains Bearish With Possible Déjà vu Scenario


Gold was sold aggressively yesterday failing to re-bounce as the previous metal penetrated several support levels, but managed to hit a break at 1214.30 three-weeks-fresh-lows. Late at night, Trump issued an order where FBI director Comey to be resigned from his duties, as a result, U.S Dollar bullish momentum was tackled with -$0.12 gap and $99.42 closing price. XAUUSD  took advantage with a short term 1225.66 correction high for today as U.S Index closed the gap with 99.51 high, forbidding gold to continue the correction mode. Currently gold trades 1222.44 intraday, slightly below its hourly pivot 1224.44 and market could witness the same scenario as yesterday, failure of support levels.

Trend: Bearish

Pivot (H1) 1224.44

Resistance levels: R1 1226.57 , R2 1230, R3 1235, R4 1239.57

Support levels: S1 1220.78, S2 1217.97, S3 1214.66, S4 1211.34

Comment: Gold Remains bearish despite today's recovery. With absence of U.S economic news, gold should trade technical. Long positions below hourly pivot 1224.44 suggests further declines stretched with yesterday's dips seeing S2&S3, but dips should hold at 1214. The other scenario, long positions above 1224.44 projects further bullish waves with R1&R2 as target. Keep an eye on U.S Index level.

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
Number of messages : 519
Date of Entry : 2015-08-18

Re: Daily Technical Analysis by FxGrow

on Fri May 12, 2017 12:57 pm
FxGrow Daily Technical Analysis – 12th May, 2017
By FxGrow Research & Analysis Team

EUR/USD Stands on An Edgy Support Ahead of U.S Data


EUR/USD is showing dull behavior for the past three days finding support by local data but still pressured by recovering greenback. On Tuesday, the pair was lifted by French and Italian data with a high 1.0897 then plunged to 1.0853 low. Yesterday, the pair dipped to 1.0839 low after strong U.S data outcome and was standing on the edge of a support (S1 1.0840) where the pair signaled a potential for additional declines, but EUR/USD found a bullish hand as Trump's order (FBI Comey) events accelerated through media and interview. As a result the pair reversed losses with a 1.0893 high.

Today, EU data was neutral which postponed the trend confirmation for later coming data as U.S Releases Major events. EUR/USD traded 18-pips price action today with 1.0855 high, below 10-EMA by 27-pips.
Fundamentals:

1- USD -  CPI m/m and Core CPI (Consumer Price Index) today at 12:30 PM GMT.

2- Retails Sales and Core Retails Sales today at 12:30 PM GMT.

Technical Overview:

Trend: Bullish / Sideways

Resistance levels: R1 1.0897, R2 1.0944, R3 1.1001

Support Levels: S1 1.0840, S2 1.0811, S3 1.0780

Comment:  Overall, EUR/USD remains bullish, but trading close to S1 which in case of penetration, expectations for further dips towards S2 and below it, the pair alerts for trend reversal and closing below S3 is 100% confirmation for bearish momentum. Monday's reversal still favors near term corrections or congestion. Suspect a fight to bounce off 1.0840. The pair traded lower highs and higher lows between Monday and Tuesday which makes S1 a critical level.

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
Number of messages : 519
Date of Entry : 2015-08-18

Re: Daily Technical Analysis by FxGrow

on Fri May 12, 2017 2:23 pm
FxGrow Daily Technical Analysis – 12th May, 2017
By FxGrow Research & Analysis Team

Gold Shows Good Stamina Ahead of U.S Data

Gold recovered from Tuesday's 1214 low and steadied afterwards with an incline destination, maximizing profits with almost $5.50 as the precious metal clocks 1229.96 high for today's session. Yesterday, U.S Data was positive with expectation that gold will break 1214 (Tuesday low), but XAUUSD hit a strong support at 1220 with a abstention for penetration, as a result, support level was successful and gold closed at 1224.70.

Recent events shows that Trump favors lower U.S Dollar, and whenever U.S Index starts to build up, the U.S president is always there on the right time for tackling. Latest event where Trump gave Comey (FBI Deputy) one way ticket vocation had a negative impact on U.S financial market, which contributed to gold bullish forces today and yesterday.

Gold will have to submit for a final test this week as U.S releases hefty data which will re-test XAUUSD's stamina further more with expectations of heavy impact on market. In case gold followed yesterday's behavior with inability to break 1220 or Tuesday's low at 1214, indications are high that gold has finished from the decline journey and a bullish momentum is expected if XAUUSD managed to close above 1240.
Fundamentals: 

1- USD -  CPI m/m and Core CPI (Consumer Price Index) today at 12:30 PM GMT.

2- Retails Sales and Core Retails Sales today at 12:30 PM GMT.

Technical Overview:

Trend: Bearish Sideways

Resistance levels: R1 1230.34, R2 1235.61, R3 1228.42, R4 1242.17

Support levels:  S1 1226, S2 1221, S3 1214, S4 1210.34

Comment: Gold remains bearish unless the market closes above 1240. Expectations are high that spikes would fight R1 level but in case of penetration, gold stretches for bull flags seeing R2&R3. On the other hand, yesterday gold dips were fighting S2 which indicates a strong level allied further selloffs and wash towards S3. U.S data not to be missed and keep an eye on Trump's next moves.

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
Number of messages : 519
Date of Entry : 2015-08-18

Re: Daily Technical Analysis by FxGrow

on Mon May 15, 2017 9:50 am
FxGrow Daily Technical Analysis – 15th May, 2017
By FxGrow Research & Analysis Team

EUR/USD Re-Claims 1.0900 Level Over Weaker U.S Dollar


Friday, EUR/USD plunged to 1.0855 low after a neutral EU data giving room for U.S Index to climb towards 99.57 high. Later on U.S released an increased Retails Sales and CPI, not up to expectations which forced analysts to re-consider June Fed Hike odds with a probability placed at 74%, decreased by almost 10%. As a result, U.S Index took a dip and bottomed at 99.02, giving a chance for EUR/USD to reverse losses with +79-pips price action and 1.0934 high.

Monday trading session, the pair added only 1-pip since Friday's high (1.0935) with 13-pips movement, but currently U.S Index is showing weakness which should give the opportunity for EUR/USD and break another high record for today taking into consideration that U.S Administration is sending wallop signals with recent event. The pair is currently trading 1.0930 intraday, still above its 7-EMA (D1) at 1.0908.

Economic Calendar has zero value for EU and U.S Data, which leave EUR/USD action for technical as fundamentals are absent today.

Technical Overview:

Trend: Bullish Sideways

Pivot : 1.0910

Resistance levels: R1 1.0937, R2 1.0952, R3 1.0966, R4 1.0985 (H1)

Support levels: S1 1.0919, S2 1.0909, S3 1.0884, S4 1.0856 (H1)
 

Comment:  The market still favors additional rallies for EUR/USD especially the mentioned above fundamentals on U.S Dollar. long positions above hourly pivot (1.0910) stretches bullish waves seeing R2&R3 as target.  A penetration for S1 level will increase selloffs and wash towards S2 as first station, and S3 as second destination. Keep an eye on U.S Index 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.
FxGrow Support
Number of messages : 519
Date of Entry : 2015-08-18

Re: Daily Technical Analysis by FxGrow

on Mon May 15, 2017 11:55 am
FxGrow Daily Technical Analysis – 15th May, 2017
By FxGrow Research & Analysis Team

Gold Pushes Higher As June Fed Odds Drops Lower

Gold extended bullish momentum and added  +$1.04 since Friday's high with 1232.81 for Monday's trading session. U.S Retail Sales and CPI, although was positive compared to previous sessions but not up to forecasts, lowered June Fed hike odds by 10% after being estimated at 84% which pushed XAUUSD higher.

The ascending events of North Korean launching a missile-test has contributed to gold bullish forces as the yellow metal tends to hike when political tension tightens and Trump's continuous decisions also pressured U.S Index for lower levels.

The United Nations Security Council is due to meet on Tuesday to discuss the missile launch and gold levels will await the results with possibility of additional rallies depending how the events accelerate.

U.S economic data shows absence today which leave gold to trade technically.

Technical Overview:

Trend: Bearish Sideways

Pivot: 1226.50

Resistance levels: R1 1233.20, R2 1236.89, R3 1241.17

Support levels: S1 1223.38, S2 1220.49, S3 1216

Comment: Gold is currently bullish on H1 supported by rising trend but remains bearish as general trend. Only a close above R3 level signals a trend reversal.

Long positions above pivot 1226.50 with targets at R1&R2. Long positions below pivot 1226.50, look further for S1&S2 as 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 Support
Number of messages : 519
Date of Entry : 2015-08-18

Re: Daily Technical Analysis by FxGrow

on Mon May 15, 2017 7:00 pm
FxGrow Daily Technical Analysis – 15th May, 2017
By FxGrow Research & Analysis Team

Aussie Marches Steadily Ahead of RBA Policy Meeting

Aussie traded Monday's session with a sharp tone facing wallowing U.S Dollar. AUD/USD over passed 10-EMA at 0.7400 as the pair peeked today to 0.7445 high with 61-pips price action. Although Chinese Data was negative earlier today which should have a negative impact on the Aussie, but collapsing U.S Dollar gave a higher push for AUD/USD, supported by a rising trend line H1 frame.

AUD/USD is currently trading 0.7419, still above above its pivot point at 0.7375 which should keep Aussie bullish forces in action and the pair could stretch additional gains technically.

As for fundamentals, Aussie awaits RBA Policy Meeting tomorrow early with expectations that the statment  will be concluded with a neutral bias given last week negative Australian Data which could impact AUD/USD negatively, but still market has to watch the statement closely with expectations wide open.

Fundamentals:

AUD - RBA Monetary Policy Meeting Minutes tomorrow at 1:30 AM GMT.

USD- Building Permits tomorrow at 1:30 PM GMT.

Technical Overview:

Pivot: 0.7375

Trend: Bearish Sideways

Resistance levels: R1 0.7458, R2 0.7489, R3 0.7522, R4 0.7553 (H1)

Support levels: S1 0.7396, S2 0.7378, S3 0.7341, S4 0.7291 (H1)

Comment: Aussie remains as general trend, but AUD/USD built a promising bullish trend line with expectations for further gains taking into consideration week U.S Dollar. AUD/USD broke 0.7425 from which the pair witnessed intensive declines, and staying above it supports current bullish momentum. Closing above 0.7425 keeps bullish forces in action but be careful from setbacks due to RBA meeting content. Closing above R3 level is needed for daily trend reversal. Keep an eye on U.S Index level with correlation to U.S Data tomorrow.


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
Number of messages : 519
Date of Entry : 2015-08-18

Re: Daily Technical Analysis by FxGrow

on Tue May 16, 2017 8:38 am
FxGrow Daily Technical Analysis – 16th May, 2017
By FxGrow Research & Analysis Team


Sterling: No-Game Changer for May's Speech, Eyes on local Data

 GBP/USD remained neutral bias trading yesterday as PM May spoke to UK citizens, not adding much for Brexit issue but instead, a speech was given, with a mobilizing content with efforts to add more votes to her already-high polls for June's elections. Market is already expired on the fact that May is a winner and the the pair has fulfilled its purpose, as a result, Sterling remained within last week trading range, but in absence of macro events (Yesterday) responsible for GBP/USD bullish momentum, the weakness in U.S Dollar was the main pusher for the pair.

Currently, the pair is trading 1.2915 with 24-price action for Tuesday's trading sessions and 12-pips above it's 20-EMA moving average one hour time frame. The pair has a support by an increasing trend line (H1), and U.S Dollar opened Tuesday's sessions with bearish momentum as the Index dropped by 3-pips behind yesterday's low at 98.65 at the moment which should give enough room for GBP/USD to surge further more. Latest claims by U.S media suggest that Trump has leaked classified data with Russian Officials through last week meeting.

Sterling awaits major data today that hold key figures for April-2017, which in case positive, traders should expect fueling bullish rallies for GBP/USD as market tend to price the next BOE Interest Rates meeting.

Fundamentals:

1- GBP - CPI (Consumer Price Index) y/y today at 8:30 AM GMT.

2- GBP - PPI (Producer Price Index) y/y todat at 8:30 AM GMT.

3- GBP - Core CPI today at 8:30 AM GMT.

4- GBP - RPI (Retail Price Index) today at 8:30 GMT

5- USD- Building permits today at 12:30 AM GMT.

Note: Sterling data has a heavier impact, more than USD and taking into consideration that currently bad politics surrounds the White House. Traders should focus on UK data more.

Technical Overview:

Trend: Bullish / Sideways

Resistance levels: R1 1.2953, R2 1.3062, R3 1.3172

Support Levels: S1 1.2829, S2 1.2752, S3 1.2678

Comment: GBP/USD currently bullish but due to high impact data, expectations of high volatility after release. A break above R1 level supported by positive data and June coming elections as PM May heads the polls, should fuel Sterling with strong bullish waves seeing R2 level as the first destination, a weaker U.S Dollar performance could contribute to the pair additional rallies seeing R3 as next target. On the other hand, a negative data would decrease odds of BOE next rate meeting which could result in declines for GBP/USD, but dips should fight S1 level, in case of penetration, additional declines are expected with selloffs and wash towards S2&S3 level. Keep in mind that the pair is still supported by positive expectations for June elections which indicates that GBP/USD can overcome losses. closing below S3 alerts for bearish momentum. Closing above R1 is positive.


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
Number of messages : 519
Points : 1356
Date of Entry : 2015-08-18
Year : 36

Re: Daily Technical Analysis by FxGrow

on Tue May 16, 2017 10:29 am
FxGrow Daily Technical Analysis – 16th May, 2017
By FxGrow Research & Analysis Team

EUR/USD Inclines As U.S dollar Declines, Eyes on EU GDP


EUR/USD currently 1.1014, only 3-pips behind to overpass 8th of May's highs since Macron was elected with a continuous re-bounds and rejection for 20-EMA at 1.088. The pair is supported by a strong (H1) trend line and non-top higher highs indicating that the pair is marching for additional gains. There are no macro economic events supporting the rising trend which leaves EURO bullish momentum seeing weakness in U.S Dollar as the Index dipped to 98.45 low with possibilities to clock a new low for 2017.

Apparently, U.S media's accusations that Trump leaked classified data with Russian Official during last week's meeting keeps adding negative pressure on greenback along with U.S negative Empire State Manufacturing Index yesterday at -0.1 compared to 5.2 previously. Question marks surrounds U.S economy performance with mixing data released on weekly basis in addition to political rift between Republicans and Democrats keeps pushing U.S Dollar lower.

EURO awaits major data today but EU flash GDP will take center stage which will set the tone for ECB Interest Rates next meeting and in case positive, Draghi will be cornered having few options whether to increase rates to accommodate inflation figures and QE will be a greasy item on the ECB press conference. Analysts has always pointed out the Draghi favors lower EURO levels with efforts to attract investments, enhancing industrial performance which should increase exports, thus a healthier economy.

Fundamentals:

1- EUR - EU Flash GDP today at 9:00 AM GMT.

2- EUR - German ZEW Economic Sentiment today at 9:00 AM GMT.

3- EUR - Trade Balance today at 9:00 AM GMT

4- USD - Building permits today at 12:20 PM GMT.

Technical overview:

Trend: Bullish / Sideways

Resistance levels: R1 1.1041, R2 1.1081, R3 1.1138

Support levels: S1 1.0953, S2 1.0919, S3 1.0881

Comment: Current weaker U.S Dollar is giving room for EUR/USD to rally further more. EU Data will bring new inputs on how the EURO will perform for the next hours. Current weak U.S Dollar gives the chance for Building Permits today to have a higher impact as a spark. Expect setbacks from R1 level which in case penetrated, look for further bullish waves seeing R2 as a target. Dips should fight S2 and S3 levels. closing below S3 alerts for 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 Support
Number of messages : 519
Points : 1356
Date of Entry : 2015-08-18
Year : 36

Re: Daily Technical Analysis by FxGrow

on Wed May 17, 2017 8:04 am
FxGrow Daily Technical Analysis – 17th May, 2017
By FxGrow Research & Analysis Team

Gold Initiated Daily Bullish Trend


As Gold penetrated 1239 100-EMA-D1, the yellow metal has officially launched the daily bullish momentum with expectations for additional gains in the coming hours and the coming days. Gold inaugurated Wednesday's trading sessions with $8.53 profits and 1245 high, and as U.S Dollar extended the bearish momentum with severe losses at 97.78 low, Gold should find comfort as Trump continues tanking U.S Index.
Fundamentals:

With absence of U.S Data today, and current situation of pale U.S Dollar, gold should behave technically today, but U.S internal politic events should always be taken into consideration as a stand-by spot news that could affect gold.

Technical Overview:

Trend: Bullish

Resistance levels: R1 1245.15, R2 1247.81, R3 1251.13 (H1)

Support levels: S1 1237.72, S2 1233.40, S3 1230.75 (H1)

Comment: Gold over passed 100-EMA  but only a close above it keeps and sustains the daily bullish trend. A penetration with long positions for R1 level stretches bullish flags with a high pace seeing R2&R3 levels as target. The less preferred scenario, in case gold closes below 1239, then we can see a repetition of yesterday's trading scenario but dips seeing S2 as a destination, dips should fight fight S1 level. Gold is strong supported by a strong rising oblique trend line that prioritize bullish waves with higher highs.

MACD indicates a bullish trend.
RSI indicates a Bullish 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 Support
Number of messages : 519
Points : 1356
Date of Entry : 2015-08-18
Year : 36

Re: Daily Technical Analysis by FxGrow

on Wed May 17, 2017 10:29 am
FxGrow Daily Technical Analysis – 17th May, 2017
By FxGrow Research & Analysis Team

USD/JPY Plunges As U.S Index Clocks 2017-Fresh-lows


USD/JPY inaugurated Asian Trading Sessions with 78-pips price action and plunged to 112.34 low. As U.S Dollar extends current bearish momentum with 2017 fresh low at 97.78 low over U.S negative politics, Japanese Yen took advantage of current pale greenback as pulled USD/JPY lower and if U.S issues continue on such pace, expectations that the pair will dip lower, first as a reaction to U.S Dollar losses, second as the Yen tends to be a haven substitute when bad politics surrounds the rival greenback. Currently USD/JPY is trading 112.30 below 100-EMA-D1 at 112.56.

Japanese Revised Industrial Production showed a minor recovery earlier with -1.9% compared to -2.1% on previous session which added some "positive" push for USD/JPY to pull lower.

Fundamentals:

There are no data to be released by Japanese and U.S today, only politics in the U.S will play the bigger role. But tomorrow U.S Unemployment Claims at 12:30 PM GMT will affect U.S Dollar performance.

Technical Overview:

Trend: Bearish / Sideways

Resistance levels: R1 112.47, R2 112.73, R3 113.06

Support levels: S1 112.17, S2 111.78, S3  111.41

Comment: USD/JPY dropped below 100-EMA daily which suggest that market has turned bearish. A penetration cor S1 level will increase further selloffs seeing S2 as target. Closing above R1 brings back retracements seeing R2&R3 as target. Keep an eye on U.S Index levels + U.S Politics + U.S Data tomorrow is vital.

MACD indicates bearish momentum.

RSI  indicates bearish momentum.

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
Number of messages : 519
Points : 1356
Date of Entry : 2015-08-18
Year : 36

Re: Daily Technical Analysis by FxGrow

on Wed May 17, 2017 3:45 pm
FxGrow Daily Technical Analysis – 17th May, 2017
By FxGrow Research & Analysis Team

Crude Oil Recoups Over OPEC's Positive Signs, Awaiting U.S Inventories


Fundamentals:

Crude Oil managed to reimburse $4.12 since last Monday where crude plunged to $45.52 bp, and today, oil clocked $49 high bp with failure to close above 200-EMA (D1) for three consecutive daily sessions, leaving daily trend to sideways with more tendency to bullish taking into consideration that oil has a support by a rising (H4) trend line.

Oil prices were highly fluctuated during May 2017 between U.S and OPEC with apposed interests keeping lower price (U.S) and higher price (OPEC).

U.S managed to plunge oil price over several consecutive API reports indicating a significant increase in U.S crude inventories, and this week some positive and promising signs were signaled by OPEC and particularly by Non-OPEC counties,  as sharp response to the U.S.

Iraqi Prime Minister Haider al-Abadi said in a news conference broadcast on state TV late-Tuesday, Iraq is committed to reducing oil production to decrease a glut in the global market, and will support extending oil output cuts in line with any OPEC decision, Reuters reports. Russian compliance rate was estimated by 77%. Meanwhile, the OPEC’s compliance rate is 96%. 

Russia and Saudi Arabia agreed earlier this week to prolong the output cut deal till March 2018 and along with, A proposal to extend an OPEC and non-OPEC supply cut for nine months is a positive idea, sources familiar with Iranian thinking said, suggesting OPEC's third-largest producer is likely to go along with such a plan if there is a consensus. Kuwait, a Gulf producer usually aligned with the Saudi OPEC view, said on Tuesday it supported the proposal. The Iranian position is less predictable, however, as it was the only OPEC member allowed to increase its output under the supply cut deal and holds presidential elections on Friday. (Reuters)

Today, U.S is due to release weekly crude inventories at 2:30 PM GMT which will settle oil levels technically, but fundamentally, OPEC efforts seems to be more fruitful with more bullish tendency as an impact. Currently U.S-Oil is trading 48.85 intraday.

Technical Overview:

Trend: Sideways

Resistance levels: R1 49.58, R2 50.43, R3 51.61

Support levels: S1 48.00, S2 47.00, S3 45.67

Comment: Closing above 49.00 confirms the bullish momentum. A penetration for R1 stretches additional bullish waves seeing R2&R3 destination. Closing above 49.00 is positive. Closing below S1 hold bearish setbacks and retracements as a reminder of 9th may lows. OPEC cut-deal should be a stand by motion as a spot news with major impact. Also, U.S Inventories will give a better perspective on how crude oil trend will behave.

MACD indicates bearish momentum but a penetration for R1 level will shift bullish.

RSI indicates Bullish momentum.


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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Re: Daily Technical Analysis by FxGrow

on Thu May 18, 2017 10:37 am
FxGrow Daily Technical Analysis – 18th May, 2017
By FxGrow Research & Analysis Team

EUR/USD Bullish Fever To Be Re-Tested Ahead of U.S Data


EUR/USD was on superb performance this week as the pair managed to rally +251-pips with new record for 2017 at 1.1172 high today. EU economic data was neutral bias yesterday as both CPI and Core CPI recorded zero change with both at 1.2% and 1.9% which leaves markets intrigued by the sudden intensive rising for pair. Currently EUR/USD trading 1.1135 as U.S Index shows some recovering symptoms but still remains week.

As U.S political tension continues to re-surface and tightening pace pulling greenback lower as U.S Index plunged today at 97.26 low, the pair found comfort with continuous depressing U.S Dollar levels. EUR/USD bullish momentum has to submit for final two ......

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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Re: Daily Technical Analysis by FxGrow

on Thu May 18, 2017 10:40 am
FxGrow Daily Technical Analysis – 18th May, 2017
By FxGrow Research & Analysis Team

EUR/USD Bullish Fever To Be Re-Tested Ahead of U.S Data


EUR/USD was on superb performance this week as the pair managed to rally +251-pips with new record for 2017 at 1.1172 high today. EU economic data was neutral bias yesterday as both CPI and Core CPI recorded zero change with both at 1.2% and 1.9% which leaves markets intrigued by the sudden intensive rising for pair. Currently EUR/USD trading 1.1135 as U.S Index shows some recovering symptoms but still remains week.

As U.S political tension continues to re-surface and tightening pace pulling greenback lower as U.S Index plunged today at 97.26 low, the pair found comfort with continuous depressing U.S Dollar levels. EUR/USD bullish momentum has to submit for final two ......

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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Re: Daily Technical Analysis by FxGrow

on Thu May 18, 2017 2:26 pm
FxGrow Daily Technical Analysis – 18th May, 2017
By FxGrow Research & Analysis Team

Gold Bullish Trend Has One Final Test, US Data


Gold retreated to 1253.80 today as a lowest record, but managed to recoup losses with high pace at 1265 high, currently trading 1261.92 intraday. Gold is rising a strong bullish since yesterday with +342-pips as price action supported by weaker U.S Dollar performance as the Index bottomed at 97.26 2017-fresh-low.

Gold bullish momentum will be re-tested today as U.S releases unemployment claims, and in case gold closes below 1246, alerts will be signaled as XAUUSD failed to hold the rising trend, and .....



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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Re: Daily Technical Analysis by FxGrow

on Fri May 19, 2017 10:19 am
FxGrow Daily Technical Analysis – 19th May, 2017
By FxGrow Research & Analysis Team

Gold Remains Bullish Despite Yesterday's Losses


Gold was nursed yesterday with a dropping pressure at 1246 low, but still remains above 200-EMA (D1) by 80-pips, which sends a message that XAU/USD remains bullish despite severe losses yesterday -$19 after positive unemployment claims beating expectations.

U.S Dollar performance remained weak yesterday but managed to peek at 97.96 with +$0.6, but expectation were build for more point basis considering that U.S Index anchored yesterday at 79.26 2017-low which indicates U.S current political drama still tackling greenback rallies.

Technically, gold is currently trading 1245 after clocking 1252 high showing recovery symptoms. Still above 200-EMA and and ....

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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Re: Daily Technical Analysis by FxGrow

on Fri May 19, 2017 2:25 pm
FxGrow Daily Technical Analysis – 19th May, 2017
By FxGrow Research & Analysis Team

USD/CAD Shows Stingy Price Action Over Crisp U.S Dollar


Unlike major currencies seen taking advantage of weak greenback, the loonie traded with shy 45-pips price action today, currently at 1.3570 after retreating from 1.3610 high today. Although Crude Oil is currently bullish, but remaining below $50 bp slowed USD/CAD bearish forces as Canada as major oil producers.

In addition to that, the Trump administration on Thursday set the clock ticking toward a mid-August start of renegotiation's of the North American Free Trade Agreement with Canada and Mexico to try to win better terms for U.S. workers and manufacturers which gave some solid ground for greenback as uncertainties ....


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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Re: Daily Technical Analysis by FxGrow

on Tue May 23, 2017 9:03 am
FxGrow Daily Technical Analysis – 23rd May, 2017
By FxGrow Research & Analysis Team

EURO Toughens On Weak U.S Dollar Ahead of Local Data


EUR/USD sustained the bullish momentum for 30 consecutive days, trading with +100-pips above its daily 7-EMA, and clocked a 1.1263 high yesterday, a peek the pair has not witnessed since Oct-2016. On the other hand, weakness in U.S Dollar as the Index plunged today to 96.68 low indicates the sharp tone of EURO facing its west rival greenback and EUR/USD still has potential to revenge with higher gains ahead of EU local data today.

Previous EU Data including PMI, CPI, and Retails sales were increasing session over session, but the main focus today will be on German Data, along with the increasing inflation, and ...


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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Re: Daily Technical Analysis by FxGrow

on Tue May 23, 2017 9:43 am
FxGrow Daily Technical Analysis – 23rd May, 2017
By FxGrow Research & Analysis Team

Sterling Dips Slightly Over UK's Attack Ahead of Inflation Report


Yesterday. GBP/USD bullish momentum with a high 1.3034 supported by soft U.S Dollar tone was tanked by terrorist attack on the UK, tripping and erasing the daily +78-pips market action. The pair failed to withhold the 1300 level and anchored at 1.2965 low. Currently the pair is trading 1.2977, only +12-pips above yesterday's lows which indicates that yesterday's ugly events still has negative tails to Sterling current bearish pattern. On the other hand, U.S Dollar is showing some vital signs as the Index traders 96.90 after dipping to 96.74 low, but unless the Index penetrates 97.35 (Yesterday's high), greenback remains under pressure, giving room for Sterling take a breath and slow the bearish trend.

Away from politics, BOE Governor and several MPC members will testify testify today regarding inflation and the ...

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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Re: Daily Technical Analysis by FxGrow

on Tue May 23, 2017 2:23 pm
FxGrow Daily Technical Analysis – 23rd May, 2017
By FxGrow Research & Analysis Team

Gold: Closing Above 1263 will Fuel Additional Bullish Waves


The hardest obstacle facing gold bullish with extension is today's high resistance located at 1263.80 and 1265. A resistance door which gold has knocked several times in the past two months with failure to penetrate and technically retreating, but fundamentals were always there for the help including safe haven and negative U.S Data interventions. But technical intakes with gold closing above daily 100 and 200 SMA at 1238 indicates that gold current trend is bullish supported by strong rising trend line, the yellow metal should overcome the 1265 with no hard time. Closing Above 1265, traders should prepare for themselves seeing gold on a jet ride with further inclines seeing 1280+ as a destination.


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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Re: Daily Technical Analysis by FxGrow

on Wed May 24, 2017 1:31 pm
FxGrow Daily Technical Analysis – 24th May, 2017
By FxGrow Research & Analysis Team

Crude Oil: Potential For 2017's Highs As Eyes Are Set On the Bigger Prize


Crude oil surged +1.44 bp since Monday and clocked 51.86 high today boosted by potential positive outcomes as OPEC and Non-OPEC nations meet tomorrow yet again in Vienna on 25th of May.

OPEC has promised to cut supplies by 1.8 million barrels per day (bpd) until the end of June and is expected on Thursday to decide to prolong that cut to March 2018.

The meeting tomorrow could hold additional outcomes, other than extending the original deal, such as more compliance between OPEC and Non-OPEC counties and increasing cut-outputs with efforts to curb global supply demand and glut. If OPEC managed to nail such attributes, this could be added as additional ....


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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Re: Daily Technical Analysis by FxGrow

on Thu May 25, 2017 3:58 am
FxGrow Daily Technical Analysis – 25th May, 2017
By FxGrow Research & Analysis Team

Fx Majors Technical Levels Ahead of FOMC Meeting Results
U.S Fed will meet this after noon 6:00 PM GMT and market should pay close attention to words and details. Based on that, you can know how market will head and trade. The easiest way if to see how U.S Dollar will perform and Index levels.

If U.S Index is declining, it's a signal that rival currencies are taking advantage and surging facing weaker U.S Dollar. June hike will be center stage. Any suggestion or adding odds to already 78% chances will fuel U.S Index. A stress by FOMC that they still see three possible hikes will also peek the greenback. In March 2017, U.S Fed increased 0.25% to initial 0.75%, resulted in 1% as U.S Central Banks Interest. So market ...


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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Re: Daily Technical Analysis by FxGrow

on Thu May 25, 2017 8:57 am
FxGrow Daily Technical Analysis – 25th May, 2017
By FxGrow Research & Analysis Team

GBP/USD to Re-Test 1.300 level Ahead of Local GDP


GBP/USD has entered the fourth consolidative trading session and been confined within 116-pips price action. The pair dipped yesterday to 1.2927 low as U.S Index showed some strength with 97.36 high, but then faded away as FOMC meeting maintained a neutral stance, not giving clear messages on how things are heading despite the highly odds for June hike which was already expired as a fact, hence the pair managed to shift bearish candles top bullish and clocked a 1.2999.

Today will the second chapter for the pair as UK releases Second Estimate GDP, shortly followed by U.S data Sterling hanging above 1.2900 will tested. Options are opened with 1.300+ or 1.2900- are on ...


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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Re: Daily Technical Analysis by FxGrow

on Thu May 25, 2017 2:18 pm
FxGrow Daily Technical Analysis – 25th May, 2017
By FxGrow Research & Analysis Team

Gold Still Fears The 1260+ level With Retreats, Eyes On U.S Data


Gold still shows weakness to withhold the 1260 level with consistent failure as market and traders are psychologically programmed to abandon the 1260+ position. Technically, through out 2017, gold retreated more than 10 times every time the yellow metal reaches 1265. Previous sessions where gold surpassed 1265 was due to fundamental factors such as negative U.S data or safe haven buying.

Today, gold clocked 1259.68 then retreated to to 1255.68 low as reminder of recent behavior, still above 50-EMA (D1) at 1245 which still supports the bullish momentum. There is a chance today that gold can overcome the 1265 phobia fundamentally as ...

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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Re: Daily Technical Analysis by FxGrow

on Fri May 26, 2017 2:15 pm
FxGrow Daily Technical Analysis – 26th May, 2017
By FxGrow Research & Analysis Team

U.S Index Makes A reverse Turn Giving Rivals to Surge


After peeking to 97.31 today, the greenback went back to comatose mood as the Index plunged 96.94 low, and hourly chart behavior suggests further dips. Yesterday U.S Data recorded a neutral stance, not convincing market expectations which left the Index within weekly range, down below 97 level. FOMC member Williams crossed wires today stressing that increasing rate is a must to coop with the market running hot which should have pushed the Index higher, but Trump still succeed to tank U.S Dollar with recent and yesterday's attack on NATO and candidate Lieberman withdraw-ed his name being FBI deputy yesterday.

As a result, rivals currencies and gold taking advantage of weaker U.S Dollar. Greenback has one last chance this week to redeem itself as U.S

Releases major data below:

1- USD- Core Durable Goods Orders m/m + Prelim GDP q/q + Durable Goods Orders m/m.

Technical Overview for GBP/USD , EUR/USD , USD/JPY , 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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Re: Daily Technical Analysis by FxGrow

on Mon May 29, 2017 2:15 pm
FxGrow Daily Technical Analysis – 29th May, 2017
By FxGrow Research & Analysis Team

EUR/USD Inches Higher Ahead of Draghi's Speech


EUR/USD extended the bullish momentum for the second week, but the pair is showing shy price action with 28-pips for today's session. The pair guarded the 1.1100 level successfully clocking 1.1189 high, still above its 10-EMA D1 at 1.1150 which keep bullish forces intact and on a stand-by motion. Economic calendar is light today except for Draghi appearance shortly. As for U.S Dollar, the Index remains in trouble due to U.S politics negative media especially Trump's overseas meeting with G7, and his refusal to ...


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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Re: Daily Technical Analysis by FxGrow

on Mon May 29, 2017 4:34 pm
FxGrow Daily Technical Analysis – 29th May, 2017
By FxGrow Research & Analysis Team

Yen: Chances for Further Gains Ahead of Local Data


USD/JPY is currently trading near its 200-EMA (D1) at 1.1133 intraday after plunging earlier to 1.1115 low. Overall, bank holidays are overwhelming worldwide which justifies the low volatility for market today, but action should re-kick with higher volatility as economic news inaugurate Tuesday's Asian sessions with Japanese multi inflation figures and Japanese Yen has the chance to extend further gains facing pale U.S Index (97.23 low) as negative media still revolves around the greenback. Shortly after that, BOJ ...


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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Re: Daily Technical Analysis by FxGrow

on Tue May 30, 2017 10:56 am
FxGrow Daily Technical Analysis – 30th May, 2017
By FxGrow Research & Analysis Team

Sterling Loses Momentum As UK's Election Race Tightens


GBP/USD peeked last Monday to 1.3043, boosted by PM May with her conservative party heading polls. But last week's terror attack on Manchester costed the conservative party 6 points down as latest surveys indicates, and when election polls looks murky without clear hints about final results, uncertainties revolves around Sterling as election race tightens.

Apparently, question marks has been aroused regarding PM May and her qualifications to lead UK's Ministry. As a result, GBP/USD has been on a gradual decline ladder since last week and the pair plunged to 1.2794 low today, currently trading ...


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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Re: Daily Technical Analysis by FxGrow

on Tue May 30, 2017 2:46 pm
FxGrow Daily Technical Analysis – 30th May, 2017
By FxGrow Research & Analysis Team

Gold Flirts With 1270 With A Setback, Awaiting U.S Data


Gold clocked 1270.50 May-2017-fresh-highs but failed to march forward, hitting a strong resistance with successful test, retreating to 1261.71 low. Technically, gold remains bullish as the yellow metal remains above its 10-EMA at 1257 and 50-EMA at 1249 which keeps gold's bullish forces in action. Currently gold is trading 1263 intraday, and in case the market closed below 1265, expectations for ...


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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Re: Daily Technical Analysis by FxGrow

on Wed May 31, 2017 8:34 am
FxGrow Daily Technical Analysis – 31st May, 2017
By FxGrow Research & Analysis Team

EURO Fuels Over Rumors Of ECB Abandoning QE Program


EUR/USD plunged yesterday to 1.1109 at which, the pair alerted for trend reversal as the downside prevailed, but as rumors were leaked that the ECB could bring some new measures regarding Quantitative Easing Program being removed as a headline (Reuters), the pair reversed its destination and rallied with +96-pips daily price action, landing in 1.1205 high. Negative U.S Consumer Confidence yesterday contributed to cable rallies.

Technically EUR/USD closed at 1.1185, above its daily 10-EMA at 1.1155 which promises of further attacks upward seeing last week's highs. Currently the pair is trading 1.1172 at 7-EMA (D1), and in ...


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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Re: Daily Technical Analysis by FxGrow

on Wed May 31, 2017 9:07 am
FxGrow Daily Technical Analysis – 31st May, 2017
By FxGrow Research & Analysis Team

GBP/USD Technical Overview


With absence of economic data on both Sterling and U.S Dollar, the pair should trade technically.

Trend: Bearish /Sideways (H1)

Pivot: 1.2835

Preferable scenario: Short positions below pivot 1.2835 holds further dips seeing 1.2787 (S1), in case of penetration next station should be 1.2740 (S2), then (S3) at 1.2700. (H1 supports)

The alternative case, if GBP/USD  stayed above pivot 1.2835, expectations for further attacks at (R1) 1.2882 first. If (R1) failed, potentials for additional hikes seeing (R2) at 1.2925, next (R3) 1.2960. (H1 Resistances)

Comment: keep an eye on U.S Index levels, he upward potential is likely to be limited by the resistance at 1.2840.

MACD indicates bearish momentum (H1).

RSI indicates bearish momentum (H1).


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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Re: Daily Technical Analysis by FxGrow

on Wed May 31, 2017 4:49 pm
FxGrow Daily Technical Analysis – 31st May, 2017
By FxGrow Research & Analysis Team

Negative Chinese Data Tackles The Aussie Ahead of local Retail Sales


Australian Dollar peeked to 0.7475 high on Wednesday's early sessions, but the incline journey was tackled by negative Chinese Manufacturing and Non-Manufacturing PMI, as a result AUD/USD lost -46-pips and landed on 0.7429 low for today's session. On the other hand, the Aussie still fails to take advantage of weaker U.S Dollar as the Index dipped today to 96.98 low.

Currently the pair is trading 0.7435, still below its daily 50-EMA at 0.7490, and daily 200 and 100 EMA at 0.7515 as indication of bearish momentum, but AUD/USD has a make a reverse turn ...


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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Re: Daily Technical Analysis by FxGrow

on Thu Jun 01, 2017 1:53 pm
FxGrow Daily Technical Analysis – 1st June, 2017
By FxGrow Research & Analysis Team

OPEC and Non-OPEC Rift Fluctuates Oil levels, Awaiting U.S Inventories


Crude oil surged yesterday to 49.69 high and touched its 50-EMA which signaled a bullish momentum build-up, but as market failed to sustain the highs, and closing at 48.61 below its 200-daily-EMA, the up trend faded away and instead, the downside still prevails for the black gold commodity. Today, oil prices clocked 49.05 high and has the chance to add more profits as market awaits Trump's decision is on a stand-buy motion on his in-take about global climate regulations, to be announced today at 7:00 PM GMT.

"If he actually withdraws the U.S from the climate accord, this would signal his intention to further roll-back emission regulations that would favor the use and demand of fossil fuels, thus giving a much needed boost to oil prices," said Jonathan Chan, investment analyst at Phillip Futures in Singapore.

Yesterday's oil fluctuation prices were due to...


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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