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Daily Technical Analysis by FxGrow

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Re: Daily Technical Analysis by FxGrow

Postby FxGrow Support » Tue Oct 03, 2017 8:14 am

FxGrow Daily Technical Analysis – 03rd Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 1

EUR/USD Intraday: the downside prevails.
Image

Pivot: 1.1740

Our preference: short positions below 1.1740 with targets at 1.1680 & 1.1645 in extension.

Alternative scenario: above 1.1740 look for further upside with 1.1770 & 1.1800 as targets.

Comment: the RSI has broken down its 30 level.

Supports and resistances:
1.1800
1.1770
1.1740
1.1707 Last
1.1680
1.1645
1.1615


GBP/USD Intraday: the downside prevails.
Image

Pivot: 1.3315

Our preference: short positions below 1.3315 with targets at 1.3205 & 1.3165 in extension.

Alternative scenario: above 1.3315 look for further upside with 1.3355 & 1.3400 as targets.

Comment: the RSI is capped by a bearish trend line.

Supports and resistances:
1.3400
1.3355
1.3315
1.3252 Last
1.3205
1.3165
1.3125

USD/JPY Intraday: the bias remains bullish.
Image

Pivot: 112.75

Our preference: long positions above 112.75 with targets at 113.25 & 113.50 in extension.

Alternative scenario: below 112.75 look for further downside with 112.50 & 112.20 as targets.

Comment: the RSI is bullish and calls for further upside.

Supports and resistances:
113.75
113.50
113.25
113.00 Last
112.75
112.50
112.20

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 Oct 03, 2017 8:40 am

FxGrow Daily Technical Analysis – 03rd Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 2

AUD/USD Intraday: capped by a negative trend line.
Image

Pivot: 0.7850

Our preference: short positions below 0.7850 with targets at 0.7790 & 0.7765 in extension.

Alternative scenario: above 0.7850 look for further upside with 0.7875 & 0.7900 as targets.

Comment: the RSI is bearish and calls for further downside.

Supports and resistances:
0.7900
0.7875
0.7850
0.7815 Last
0.7790
0.7765
0.7725

Gold spot Intraday: under pressure.
Image

Pivot: 1277.00

Our preference: short positions below 1277.00 with targets at 1267.00 & 1262.00 in extension.

Alternative scenario: above 1277.00 look for further upside with 1281.00 & 1286.50 as targets.

Comment: the RSI lacks upward momentum.

Supports and resistances:
1286.50
1281.00
1277.00
1269.90 Last
1267.00
1262.00
1254.00


Crude Oil (WTI) (X7) Intraday: under pressure.
Image

Pivot: 50.95

Our preference: short positions below 50.95 with targets at 50.05 & 49.75 in extension.

Alternative scenario: above 50.95 look for further upside with 51.30 & 51.75 as targets.

Comment: the RSI is capped by a bearish trend line.

Supports and resistances:
51.75
51.30
50.95
50.47 Last
50.05
49.75
49.25

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 Oct 04, 2017 10:01 am

FxGrow Daily Technical Analysis – 04th Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 1

EUR/USD Intraday: the upside prevails.
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Pivot: 1.1735

Our preference: long positions above 1.1735 with targets at 1.1780 & 1.1800 in extension.

Alternative scenario: below 1.1735 look for further downside with 1.1715 & 1.1695 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
1.1825
1.1800
1.1780
1.1760 Last
1.1735
1.1715
1.1695

GBP/USD Intraday: under pressure.
Image

Pivot: 1.3290

Our preference: short positions below 1.3290 with targets at 1.3230 & 1.3205 in extension.

Alternative scenario: above 1.3290 look for further upside with 1.3355 & 1.3400 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.3290.

Supports and resistances:
1.3400
1.3355
1.3290
1.3257 Last
1.3230
1.3205
1.3165

USD/JPY Intraday: the downside prevails.
Image

Pivot: 112.95

Our preference: short positions below 112.95 with targets at 112.30 & 112.05 in extension.

Alternative scenario: above 112.95 look for further upside with 113.20 & 113.50 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
113.50
113.20
112.95
112.60 Last
112.30
112.05
111.80


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 Oct 04, 2017 10:10 am

FxGrow Daily Technical Analysis – 04th Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 2

AUD/USD Intraday: the bias remains bullish.
Image

Pivot: 0.7825

Our preference: long positions above 0.7825 with targets at 0.7875 & 0.7890 in extension.

Alternative scenario: below 0.7825 look for further downside with 0.7800 & 0.7785 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
0.7905
0.7890
0.7875
0.7850 Last
0.7825
0.7800
0.7785

Crude Oil‏ (WTI)‏ (X7) Intraday: capped by a negative trend line.
Image

Pivot: 50.75

Our preference: short positions below 50.75 with targets at 49.75 & 49.25 in extension.

Alternative scenario: above 50.75 look for further upside with 51.30 & 51.75 as targets.

Comment: the RSI is bearish and calls for further downside.

Supports and resistances:
51.75
51.30
50.75
50.12 Last
49.75
49.25
48.90

Gold spot Intraday: bullish bias above 1272.00.
Image

Pivot: 1272.00

Our preference: long positions above 1272.00 with targets at 1281.00 & 1286.50 in extension.

Alternative scenario: below 1272.00 look for further downside with 1268.00 & 1262.00 as targets.

Comment: the RSI is supported by a rising trend line.

Supports and resistances:
1290.00
1286.50
1281.00
1275.90 Last
1272.00
1268.00
1262.00


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
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Re: Daily Technical Analysis by FxGrow

Postby FxGrow Support » Thu Oct 05, 2017 11:54 am

FxGrow Daily Technical Analysis – 05th Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 1

EUR/USD Intraday: continuation of the rebound.
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Pivot: 1.1745

Our preference: long positions above 1.1745 with targets at 1.1800 & 1.1825 in extension.

Alternative scenario: below 1.1745 look for further downside with 1.1725 & 1.1695 as targets.

Comment: the RSI shows upside momentum.

Supports and resistances:
1.1860
1.1825
1.1800
1.1774 Last
1.1745
1.1725
1.1695

GBP/USD Intraday: the downside prevails.
Image

Pivot: 1.3250

Our preference: short positions below 1.3250 with targets at 1.3165 & 1.3115 in extension.

Alternative scenario: above 1.3250 look for further upside with 1.3290 & 1.3330 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
1.3330
1.3290
1.3250
1.3190 Last
1.3165
1.3115
1.3080

USD/JPY Intraday: turning down.
Image

Pivot: 112.95

Our preference: short positions below 112.95 with targets at 112.30 & 112.05 in extension.

Alternative scenario: above 112.95 look for further upside with 113.20 & 113.50 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
113.50
113.20
112.95
112.59 Last
112.30
112.05
111.80

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
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Re: Daily Technical Analysis by FxGrow

Postby FxGrow Support » Thu Oct 05, 2017 12:18 pm

FxGrow Daily Technical Analysis – 05th Oct, 2017
By FxGrow Research & Analysis Team

FxGrow's Forex Daily Technical Overview - Part 2

AUD/USD Intraday: under pressure.
Image

Pivot: 0.7855

Our preference: short positions below 0.7855 with targets at 0.7815 & 0.7800 in extension.

Alternative scenario: above 0.7855 look for further upside with 0.7870 & 0.7890 as targets.

Comment: the RSI is mixed to bearish.

Supports and resistances:
0.7890
0.7870
0.7855
0.7830 Last
0.7815
0.7800
0.7780

Crude Oil‏ (WTI)‏ (X7) Intraday: key resistance at 50.45.
Image

Pivot: 50.45

Our preference: short positions below 50.45 with targets at 49.75 & 49.25 in extension.

Alternative scenario: above 50.45 look for further upside with 50.75 & 51.00 as targets.

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

Supports and resistances:
51.00
50.75
50.45
50.03 Last
49.75
49.25
48.85

Gold spot Intraday: rebound expected.
Image

Pivot: 1270.50

Our preference: long positions above 1270.50 with targets at 1278.50 & 1282.50 in extension.

Alternative scenario: below 1270.50 look for further downside with 1268.00 & 1265.00 as targets.

Comment: the RSI lacks downward momentum.

Supports and resistances:
1286.50
1282.50
1278.50
1275.20 Last
1270.50
1268.00
1265.00


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 Oct 10, 2017 12:03 pm

FxGrow Daily Technical Analysis – 10th October, 2017
By FxGrow Research & Analysis Team

GBP/USD Surpasses 50-EMA Over Upbeat Manufacturing Production Data
Image

GBP/USD extends the recovery for the third consecutive session rallying from 1.3027 low on Friday, clocking 1.3198 high today after receiving a positive push by Manufacturing Production at 0.4% while expectations placed at 0.2%. On the other hand, the U.S Dollar continues to show weakness since Friday, dipping to to 93.21 low today, giving the Pound a wilder tone.

Technical Overview GBP/USD

Closing Price: (1.3140)

Target: 1.2956?

Resistance levels: 1.3168, 1.3220, 1.3290*

Support levels: 1.3130, 1.3027-, 1.2986

Trend: Down

Trend Reversal Price: 1.3290

Comment The market is short term bearish and a close under 1.3130 warns for pressing selloffs to 12986. Monday's rebound may carry over into today, but any corrections contained within last Thursday's range for 1-2 days should bear flag and keep the bear trend forces intact. A close over 1.3290* is needed for a short term bottoming turnaround.

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 Oct 24, 2017 12:22 pm

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

Forex Daily Technical Overview 24 Oct 2017

GBP/USD Intraday: under pressure.
Image

Pivot: 1.3230

Our preference: short positions below 1.3230 with targets at 1.3155 & 1.3125 in extension.

Alternative scenario: above 1.3230 look for further upside with 1.3260 & 1.3290 as targets.

Comment: the RSI broke below a rising trend line.

Supports and resistances:
1.3290
1.3260
1.3230
1.3190 Last
1.3155
1.3125
1.3085


USD/JPY Intraday: caution.
Image

Pivot: 113.75

Our preference: short positions below 113.75 with targets at 113.10 & 112.70 in extension.

Alternative scenario: above 113.75 look for further upside with 114.10 & 114.30 as targets.

Comment: the RSI is mixed and calls for caution.

Supports and resistances:
114.30
114.10
113.75
113.40 Last
113.10
112.70
112.35

AUD/USD Intraday: under pressure.
Image

Pivot: 0.7825

Our preference: short positions below 0.7825 with targets at 0.7765 & 0.7745 in extension.

Alternative scenario: above 0.7825 look for further upside with 0.7855 & 0.7885 as targets.

Comment: the RSI shows downside momentum.

Supports and resistances:
0.7885
0.7855
0.7825
0.7795 Last
0.7765
0.7745
0.7730

Crude Oil‏ (WTI)‏ (Z7) Intraday: the downside prevails.
Image

Pivot: 52.10

Our preference: short positions below 52.10 with targets at 51.65 & 51.30 in extension.

Alternative scenario: above 52.10 look for further upside with 52.30 & 52.60 as targets.

Comment: the RSI is bearish and calls for further decline.

Supports and resistances:
52.60
52.30
52.10
51.85 Last
51.65
51.30
50.85


Gold spot Intraday: bullish bias above 1276.50.
Image

Pivot: 1276.50

Our preference: long positions above 1276.50 with targets at 1284.00 & 1291.00 in extension.

Alternative scenario: below 1276.50 look for further downside with 1272.00 & 1267.00 as targets.

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

Supports and resistances:
1296.00
1291.00
1284.00
1279.97 Last
1276.50
1272.00
1267.00

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 Oct 25, 2017 8:08 am

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

Brexit Still Pressures GBP/USD, Eyes On UK GDP

GBP/USD extends the downtrend momentum for eighth consecutive session after peeking to 1.3227 high yesterday, the pair failed to press forward and hold gains, taking a dip to 1.3113 low and closed at 1.3131. Currently the pair is trading narrow with 20-pips price action after hitting 1.3116 low support, but expectations for higher volatility as UK releases its quarter GDP shortly.

Technically, on the chart we can notice that GBP/USD is capped inside wedge triangle and has been touching the boundaries but failing to close neither above the descending trend line, nor below ascending one, putting the pair in a state of congestion in case daily price managed to close above or below both lines.

Fundamentally, GBP/USD is traded cautiously. First Brexit negotiations still weighs negatively on the pair favoring selloff mood and last week Carney was noticed less hawkish than precious press conferences held, but rate hike in November is still on the table and open to discussion which keeps the cable on solid ground preventing it from severe losses. Today, expectations are placed for GDP at 3% as recorded previously. Market stands on two potential scenarios. First, in case GDP scored 3% or above, this should be taken as a booster and second, if GDP missed 3% target, then adding all the negative elements above, market should expect a heavier abandon for GBP/USD and extending the bearish momentum.

Technical Overview GBP/USD:

Closing price: 1.3116

Target price: None

Resistance levels: 1.3154 , 1.3200, 1.3248

Support levels: 1.3114 , 1.3080 , 1.3030

Trend: Sideways / Down

Trend reversal price: 1.3226*

General overlook: The market is still caught is a secondary decline. Near term trade is working through corrective congestion, but retains the bear bias. A close under 1.3080 should open ip a fresh bear leg. Near term trade may yet try to congest around 1.3154 +/- . A close over 1.3226* and 1.3260* are the triggers for a re-turn into higher prices.

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
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Re: Daily Technical Analysis by FxGrow

Postby FxGrow Support » Thu Oct 26, 2017 12:04 pm

FxGrow Daily Technical Analysis – 26th Oct, 2017
By FxGrow Research & Analysis Team

EUR/USD Pushes Higher, Seeing Draghi Hawkish

EUR/USD has been actively bullish since yesterday rallying from 1.1753 low recording 1.1817 high. Today, the pair extended yesterday's action and pushed higher at 1.1836 with expectations for more pips as 5-EMA crossed with 10-EMA from below.

Today market is expecting a hawkish statement as Super Mario Draghi crosses wires at 12:30 PM GMT. On the other hand, rates are highly expected to be left unchanged at 0% point basis, which turns all the attention to the ECB's Gov.

Draghi has mentioned previously in Sep that tapering with QE program and details will laid out in Oct as the ECB holds a press conference. At the moment, ECB is currently running QE purchasing at 60B value. Now the question comes is how much or at which pace will Draghi slow down the amount and setting specific dates.

Note expectations are between 25B and 40B reduction.

Logically, any tapering with QE as reduction should be taken positive and EUR/USD should rally as the event itself is highly anticipated since a long time of period. But still, market may not digest the details and below are possible scenarios that should take action.

First scenario which most likely, ECB will reduce monthly bond purchasing at 30B value and commit to buying bonds till Sep 2018 with a guidance. (Positive for EUR/USD).

Second scenario which is likely. ECB will cut bond purchasing by 30B and commit the QE program till Jun 2018. ( Less positive ).

Third scenario which is possible that ECB could cut monthly bond buys by 20B and commit to buying bonds to June 2018. ( Negative for EUR/USD)

Last and fourth scenario which is unlikely, ECB will cut monthly bond buys by 40B and commit to buying bonds to Sept 2018. ( Strongly positive for EUR/USD).

Technical Overview EUR/USD

Current price: 1.1822

Closing price: 1.1812

Target price: None

Resistance levels: 1.1830, 1.1860 , 1.1907*

Support levels: 1.1760 , 1.1730? , 1.1680-70

Trend: Down

Trend reversal price: 1.1909

General comment: Comment Overall the market is bearish and penetration under Monday's low suggests a selloff under the last 1.1780 swing low. Near term trade is showing corrections and may again work sideways higher today. A surge over 1.18945 voids the bear alignment. However, a close over 1.1907* is the key to start a reversing turn and sustained climb to higher 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
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Posts: 1040
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