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Daily Technical Analysis by FxGrow

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Re: Daily Technical Analysis by FxGrow

Postby FxGrow Support » Tue Jul 18, 2017 9:16 am

FxGrow Daily Technical Analysis – 18th July, 2017
By FxGrow Research & Analysis Team

Sterling Inches Higher Ahead of Multi Inflation Figures
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GBP/USD extended the bullish momentum today after a remarkable home-run on Friday with 1.3113 2017 news-highs. Yesterday, the pair made a correction plunging to 1.3046, resting daily RSI to 60 level, then rewarded losses clocking 1.3099 high ahead of major inflation data to be released today which could fuel GBP/USD for a newer high record in case of a positive UK CPI associated with previous hawkish speech by Carney, head of BOE.

Add to that, U.S Dollar continues digging lower with 94.49 2017 fresh-low. Expectations of further tumbling for the U.S Index in the coming days as Reuters reported a setback yesterday for health care program and a major conflict among Republicans regarding the system.

UK Data, after a release, will be followed by Gov. Carney in the afternoon with expectation for a hawkish tone supporting Sterling sharp tone facing pace buck, but still UK CPI will set the tone for Carney.

Analysts at Nomura Securities - the global financial services giant - say the Bank of England will raise interest rates by ...

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

Postby FxGrow Support » Wed Jul 19, 2017 10:32 am

FxGrow Daily Technical Analysis – 19th July, 2017
By FxGrow Research & Analysis Team

FxGrow: Forex Market Technical Overview

EUR/USD: Potential For 1.1585 high

Pivot: 1.1510
Our preference: long positions above 1.1510 with targets at 1.1565 & 1.1585 in extension.
Alternative scenario: below 1.1510 look for further downside with 1.1485 & 1.1470 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

GBP/USD Remains Under Pressure By Yesterday's Negative CPI

Pivot: 1.3060
Our preference: short positions below 1.3060 with targets at 1.3000 & 1.2950 in extension.
Alternative scenario: above 1.3060 look for further upside with 1.3085 & 1.3115 as targets.
Comment: the RSI is mixed to bearish.

USD/JPY Intraday: key resistance at 112.40

Pivot: 112.40
Our preference: short positions below 112.40 with targets at 111.75 & 111.50 in extension.
Alternative scenario: above 112.40 look for further upside with 112.85 & 113.15 as targets.
Comment: the RSI is mixed to bearish.

AUD/USD: The Upside Prevails With 2017 New Highs

Pivot: 0.7865
Our preference: long positions above 0.7865 with targets at 0.7950 & 0.7990 in extension.
Alternative scenario: below 0.7865 look for further downside with 0.7835 & 0.7785 as targets.
Comment: the RSI is mixed to bullish.

Gold Extends Bullish Momentum Supported by Rising Trendline

Pivot: 1238.00
Our preference: long positions above 1238.00 with targets at 1247.00 & 1250.00 in extension.
Alternative scenario: below 1238.00 look for further downside with 1232.50 & 1227.00 as targets.
Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

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

Postby FxGrow Support » Wed Jul 19, 2017 11:12 am

FxGrow Daily Technical Analysis – 19th July, 2017
By FxGrow Research & Analysis Team

Global Glut Output Still Pressure Oil Levels Despite OPEC Efforts, Eyes on U.S Inventories
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Crude Oil still fails to close above $47 level, developing a habit with a sharp slip as a phobia. Through out July, crude oil was seen flirting with $47.00+, and yesterday, oil peaked to $47.12, giving potential for further advance, then failed to guard gains and closed at $46.41. Currently oil is trading at 50-EMA level at $46.46 intraday, and in case market closes above it, we could see some further gains in the coming days.

Fundamentally, market is still receiving mix signals between OPEC pledging for further actions to curb global output and U.S increasing inventories that was reported yesterday.

Libya and Nigeria has exceeded previous June levels with a report showing that both countries recorded a 3M bpd yesterday. Saudi Arabia, along with other OPEC countries still ...

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

Postby FxGrow Support » Wed Jul 19, 2017 2:00 pm

FxGrow Daily Technical Analysis – 19th July, 2017
By FxGrow Research & Analysis Team

Aussie: Chances For Further Gains Ahead of Unemployment Rate
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Australian Dollar extended the intensive inclines, searching for newer highs as AUD/USD clocks multi years 0.7947 today. The pair uptrend found support by recent hawish RBA statement, positive Chinese GDP on Monday opening session, and continuous collapsing U.S Dollar as the Index with 94.26 low yesterday.

The pair awaits vital data as Australia releases Unemployment Rate on Tuesday opening session. Expectations are at ...

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

Postby FxGrow Support » Thu Jul 20, 2017 6:52 am

FxGrow Daily Technical Analysis – 20th July, 2017
By FxGrow Research & Analysis Team

USD/JPY Testing 50-EMA, Awaiting U.S Unemployment Data
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USD/JPY digested yesterday losses and surged 40-pips on Thursday's Asian session with 1.1217 high for today. Currently the pair is trading 112.10, hovering at 50-EMA at 112.05 preferring sideways trend and awaiting cautiously for further intake as U.S releases data on NY opening sessions.

BOJ, as expected kept rates at current minus 0.1%, pushing back inflation target for sixth time and keeping policy steady with a bit hawkish stance contaminating USD/JPY spikes. Kuroda, BOJ Gov. will cross wires shortly with expectations that answers will be consistent with earlier statement but still, traders has to decipher words in case Kuroda got market off-guard.

On the other hand, the pair price action will undergo ...

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

Postby FxGrow Support » Thu Jul 20, 2017 8:18 am

FxGrow Daily Technical Analysis – 20th July, 2017
By FxGrow Research & Analysis Team

GBP/USD Trading Flat Ahead of UK Retails Sales
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GBP/USD has traded 18-pips on Thursday with 1.3014 low. The pair was on selloff wave on Tuesday after receiving negative UK CPI, but still the pair is bullish as dips still fight 1.3000 level with a constant re-bounce and calling for further pressings if we still consider recent daily candles as a correction phase. The pair is still trading above 10-EMA (1.2990), currently 1.3034 intraday.

Sterling bullish momentum awaits UK Retail Sales to be released shortly (8:30 AM GMT) which justifies low price action today. Carney precious statements regarding BOE interest rates tapering was tackled on Tuesday as data and statement were opposed, but Retails Sales today will give a better view on how BOE is ...

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

Postby FxGrow Support » Fri Jul 21, 2017 8:34 am

FxGrow Daily Technical Analysis – 21st July, 2017
By FxGrow Research & Analysis Team

Daily Technical Market Overview

EUR/USD Intraday: the bias remains bullish.

Pivot: 1.1585

Our preference: long positions above 1.1585 with targets at 1.1660 & 1.1685 in extension.

Alternative scenario: below 1.1585 look for further downside with 1.1535 & 1.1495 as targets.

Comment: even though a continuation of the consolidation cannot be ruled out, its extent should be limited.


GBP/USD Intraday: under pressure.

Pivot: 1.3000

Our preference: short positions below 1.3000 with targets at 1.2930 & 1.2900 in extension.

Alternative scenario: above 1.3000 look for further upside with 1.3030 & 1.3055 as targets.

Comment: as long as 1.3000 is resistance, look for choppy price action with a bearish bias.


USD/JPY Intraday: key resistance at 112.10.

...

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

Postby FxGrow Support » Mon Jul 24, 2017 6:54 am

FxGrow Daily Technical Analysis – 24th July, 2017
By FxGrow Research & Analysis Team

EUR/USD Inching Higher Ahead of Multi Local PMI Data
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EUR/USD extended the uptrend momentum supported by Draghi's Thursday hawkish QE comments. The pair rallied from 1.1479 low on Thursday and clocked 1.1682 high on Friday with extra +2-pips today, 1.1684 high. On the other hand, uncertainties still revolves around the greenback with absence of health care bill accelerating scandals about Russia meddling in Trump's election pushing U.S Index into 93.63 yearly low.

Technically, the pair is trading 1.1674, testing 10-EMA hourly at 1.1670 ahead of multi local flash Manufacturing and Services PMI which will give ...

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

Postby FxGrow Support » Mon Jul 24, 2017 12:06 pm

FxGrow Daily Technical Analysis – 24th July, 2017
By FxGrow Research & Analysis Team

Gold Rallies To be Contained With An Overbought Market
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Gold was on a superb performance on Friday set on +12.35 gain and 1255.85 high. Today the precious extended rallies but on a slower pace adding +3.75 and July new high record at 1258, currently trading 1256.55 intraday, above daily-EMA at 1243.

Technically, H4 RSI stands at 79%, hourly RSI at 65%, and daily RSI at 61.4%. On the other hand, Fibo level 61.8% indicates $1261 price. Taking into consideration that gold is currently bullish, but in XAUUSD wants to press forward, expectations for some correction consolidation sessions where market balances itself.

Add to that, U.S Index been on an aggressive selloff wave hitting yearly low today at 93.63 low with daily RSI at 25% which indicates for some upward corrections pressuring gold for some retreats.

On ZigZag pattern, gold dropped from 1296 high to 1204 low, lower than last time gold rallies from 1214 low, so expectations that gold rallies are on the maturing phase.

Technical Summary: ...

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

Postby FxGrow Support » Tue Jul 25, 2017 8:40 am

FxGrow Daily Technical Analysis – 25th July, 2017
By FxGrow Research & Analysis Team


Futures Technical Overview 25 July 2017
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SEP EURO Closing (11677)

Target: None

Resistance: 11699, 11735-50

Support: 11609, 115915*

Trend: Up

Swing Target: 79.99

Range Reversal: 115.10

Comment: The market is bullish and could yet extend the drive, but be careful for resistance near 11735-50. A close over 11750 is needed to fuel another aggressive bull wave. Be on guard for near term corrective dips and shift to sideways-defensive congestion. A close under 115915* will inject selling pressures, but only a close under 11510* triggers a lasting short term top.

SEP J-YEN Closing (9026)

Target: 9049 achieved

Resistance: 90355, 9049*+/-

Support: 8988, 89625, 89465*

Trend: Up

Swing Target: 117.27

Range Reversal: 89.465

Comment The market is short term bullish, but Monday's spike rally hit the expected 9049* resistance / bull objective. A close over 9049* is needed to continue bull trending to higher prices near the old downturn level around 9150+/-. Suspect setbacks from 9049* to retrace last week's range. A close under 89465* damages the bull advance, calling for a multi-week correction phase.

SEP B-POUND Closing (13060) ...

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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