Daily Market Analysis by FxGrow - page 8
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Daily Technical Analysis – 22nd June, 2015
By FxGrow Research & Analysis Team
AUDUSD
AUDUSD was lower last week touching a low of 0.7658 but corrected upwards towards the end of the week. Now the pair is trading above its 20day moving average of 0.7771 in the European trading session. The near term bias remains Neutral to Bullish with targets of 0.7850
RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.
Support is at 0.7739 while Resistance is at 0.7802
22nd June 2015 – 07:19hrs GMT
USDJPY
USDJPY was lower last week and touched a low of 122.54 and remained lower towards the end of the week. Now it is trading above its 20day moving average of 122.76 in the European trading session. The near term bias remains Neutral to Bullish with targets of 123.40
RSI (14), Ultimate Oscillator, ROC indicate a BUY; STOCH (9, 6) is Neutral; while Average True Range (14) indicates Less Volatility.
Support is at 122.55 while Resistance is at 123.20
22nd June 2015 – 07:25hrs GMT
For more in depth Research & Analysis please visit FxGrow.
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.
Daily Market Analysis – 22nd June, 2015
By FxGrow Research & Analysis Team
Greece Presents New Reforms Package in Eurozone summit
"Greek Prime Minister Alexis Tsipras is meeting heads of the European Commission, European Central Bank and International Monetary Fund on Monday ahead of a summit of Euro zone leaders later in the day aimed at reaching a deal over debt talks" - Reuters.
"The prime minister presented the three leaders Greece's proposal for a mutually beneficial agreement that will give a definitive solution and not a postponement of addressing the problem" - Greece's government.
According to Credit Suisse analysts the most likely outcome of the EU summit is a deal with a 75 percent probability.
“There is no time to lose. Every day counts. Talks and negotiations must continue so that an agreement is reached" - French President Francois Hollande.
“Either Greece declares itself willing for a viable solution or the country must leave the euro. The euro zone could cope with the consequences of a Greek exit” - Hans Michelbach.
“Workers, the unemployed, young people, the Greek people and the rest of the peoples of Europe will send a loud message of resistance to the alleged one-way path of austerity, resistance to the blackmail and scare-mongering” - Syriza party.
Globally investors are awaiting the outcome of the EU summit and a relief rally in the time of crisis. There seems to be some optimism that a last minute solution will be reached. It is a decision day for Greek PM whether he chooses to accept the deal offered by its European creditors and stay in the Euro.
The economy of Greece is in trouble since 2010 when the bailout program started as its economy has declined by quarter while unemployment is at 26 percent.
As Greece is running out of money it will be unable to repay €1.5 billion payment due to the IMF on June 30.
Bank of Japan has kept its monetary policy unchanged as it would continue with its 80 trillion yen annual asset-buying programme to support the growing economy.
"Exports are picking up and capital expenditure is rising moderately as a trend as corporate revenues improve” - Bank of Japan.
In Canada Inflation increased for the month of May to 0.9% mainly led by an increase in food prices. Retail sales in Canada fell by 0.1% to C$42.5 billion in April due to drop in food and electronics.
Crude Oil is trading higher at $60.44 on hopes of a Greek debt deal.
Gold is trading lower in the Europe at 1194.06, while Silver is stable at 16.16
22nd June 2015 – 10:13hrs GMT
For more in depth Research & Analysis please visit FxGrow.
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.
Daily Technical Analysis – 23rd June, 2015
By FxGrow Research & Analysis Team
EURUSD
EURUSD went higher yesterday and crosses 1.1400 but then it came down and remained weak towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.1329 in the European trading session. The near term bias remains Bearish with targets of 1.1200 to 1.1180
RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC, indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.
Support is at 1.1271 while Resistance is at 1.1307
23rd June 2015 – 06:53hrs GMT
GBPUSD
GBPUSD was lower yesterday and remained weak towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.5810 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.5750
RSI (14), STOCH (9, 6), MACD (12, 26), Ultimate Oscillator, ROC, MA100 indicate a SELL; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.
Support is at 1.5763 while Resistance is at 1.5834
23rd June 2015 – 07:45hrs GMT
For more in depth Research & Analysis please visit FxGrow.
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.
Daily Technical Analysis – 23rd June, 2015
By FxGrow Research & Analysis Team
AUDUSD
AUDUSD was lower yesterday and remained weak towards the end of the trading session. Now the pair is trading just near its 20day moving average of 0.7730 in the European trading session. The near term bias remains Neutral to Bearish with targets of 0.7680
RSI (14) is Neutral; STOCH (9, 6), MACD (12, 26), Ultimate Oscillator, MA100, MA200 indicate a SELL; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.
Support is at 0.7712 while Resistance is at 0.7760
23rd June 2015 – 07:51hrs GMT
USDJPY
USDJPY was lower yesterday and bottomed at 122.55 but then corrected upwards at the end of the trading session. Now it is trading above its 20day moving average of 122.44 in the European trading session. The near term bias remains Neutral to Bullish with targets of 124.10
RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC indicate a BUY; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.
Support is at 123.32 while Resistance is at 123.75
23rd June 2015 – 07:56hrs GMT
For more in depth Research & Analysis please visit FxGrow.
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.
Daily Market Analysis – 23rd June, 2015
By FxGrow Research & Analysis Team
Eurozone leaders hopeful of deal in next 48 hours
Eurozone leaders have welcomed new proposals for Greek reforms with hopes that a deal can be struck within 48hrs to avoid a Greek default and keep it in the Euro.
Eurozone leaders held an emergency summit in Brussels where they discussed the New Greek proposal which made a significant concession on pension cuts. They said the new proposal looks promising and a deal could be reached in the coming days.
"I am convinced that we will come to a final agreement in the course of this week" - European Commission President Jean-Claude Juncker.
"We have a huge amount of work to do in the next 48 hours. We are not at all at the end of the route" - IMF chief Christine Lagarde.
"The proposals offered by Greece today constitute some progress. However, it became clear during our discussions that there is a lot of work to be done and time is short." - German Chancellor Angela Merkel
“In the case of a wide-ranging and complex event like a Greek default, we fear that market players may not know what they do not know about systemic consequences. Things may break that we do not expect to fail, they may fracture in unexpected ways, and linkages that we never suspected may become both apparent and important" - Carl Weinberg, High Frequency Economics.
"Several thousand pro-European Greeks staged a demonstration in favor of staying in the euro on Monday in central Athens, a day after thousands of leftists had rallied to protest against a new round of cuts" - Reuters.
In Euro zone Purchasing Manager's Index rose to 54.1 for the month of May. In Germany PMI came in at 54 and France PMI was at 53.4
In China HSBC-Markit manufacturing PMI rose to 49.6 for the month of May indicating that business activity contracted for the month.
In New Zealand consumer confidence declined to a 2 year low in the second quarter of the year. The Consumer Confidence Index slid to 113 in the Q2 of the year mainly due to falling diary prices.
Crude Oil is trading lower at $60.19 ahead of the weekly report on US stock of Crude and refined products.
Gold is trading lower in the Europe at 1183.33, while Silver is weak at 15.99
23rd June 2015 – 10:24hrs GMT
For more in depth Research & Analysis please visit FxGrow.
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.
Daily Technical Analysis – 24th June, 2015
By FxGrow Research & Analysis Team
EURUSD
EURUSD went lower yesterday and touched a low of 1.1134 remaining weak towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.1176 in the European trading session. The near term bias remains Neutral to Bullish with targets of 1.1250
RSI (14) is Neutral; STOCH (9, 6), ADX (14), CCI (14), Ultimate Oscillator, ROC, indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.
Support is at 1.1134 while Resistance is at 1.1288
24th June 2015 – 07:25hrs GMT
GBPUSD
GBPUSD was lower yesterday touching a low of 1.5708 remaining weak towards the end of the trading session. Now the pair is trading above its 20day moving average of 1.5740 in the European trading session. The near term bias remains Neutral to Bullish with targets of 1.5840
RSI (14), ADX (14), Ultimate Oscillator, ROC, MA200 indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.
Support is at 1.5707 while Resistance is at 1.5834
24th June 2015 – 07:31hrs GMT
For more in depth Research & Analysis please visit FxGrow.
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.
Daily Technical Analysis – 24th June, 2015
By FxGrow Research & Analysis Team
AUDUSD
AUDUSD was lower yesterday and touched a low of 0.7678 but then it corrected upwards towards the end of the trading session. Now the pair is trading above its 20day moving average of 0.7729 in the European trading session. The near term bias remains Neutral.
RSI (14), ADX (14), CCI (14) are Neutral; while Average True Range (14) indicates Less Volatility.
Support is at 0.7678 while Resistance is at 0.7757
24th June 2015 – 07:52hrs GMT
USDJPY
USDJPY was higher yesterday and peaked at 124.17 but then it corrected lower towards the end of the trading session. Now it is trading above its 20day moving average of 123.93 in the European trading session. The near term bias remains Neutral to Bullish with targets of 124.50
RSI (14), STOCH (9, 6), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC, MA100 indicate a BUY; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.
Support is at 123.85 while Resistance is at 124.18
24th June 2015 – 07:59hrs GMT
For more in depth Research & Analysis please visit FxGrow.
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.
Daily Market Analysis – 24th June, 2015
By FxGrow Research & Analysis Team
Markets Focus on Greek Debt Deal
Greece's PM Alexis Tsipras is in Brussels for crucial talks with its European creditors after it submitted a new proposal to avoid a default and remain part of the Euro.
Greek PM will be meeting Christine Lagarde - head of International Monetary Fund, Mario Draghi - president of European Central Bank, Jeroen Dijsselbloem - Dutch finance minister over issues of tax rises and spending cuts so that he can secure the much needed bailout funds for his country.
Eurozone finance ministers are meeting in Brussels today to discuss the new proposal submitted by the Greece. If the proposal is accepted Greece will get its €7.2bn financial aid and will be able to meet its payment of €1.6bn by June 30.
The funds that are being withdrawn from the Greek banks are in the range of €1 billion a day as investors are worried about a Greek default and the possibility of the Drachma coming back into the nation.
The IMF is unlikely to get back all its money on time as the Greek's long term debt sustainability is in question and whether or not the country will be fully able to recover from its financial problems.
The German chancellor, Angela Merkel is under pressure to hold on the 19 nations that form a part of the Eurozone. The chances are that a deal will be struck and give Greece a relief time but the problems in the Euro are far from over.
“The Euro group has urged the institutions to work closely together with the Greek authorities to start immediately to go into the proposals, getting all the specifics and doing the calculations on them … and all of these with a view if possible to reach an agreement later this week, using the Greek proposals as basis for that” - Euro group President Jeroen Dijsselbloem.
In Germany Business confidence fell for the month of June. The IFO Business climate Index dropped to 107.4 on concerns over slow growth.
Bank of Japan board members are concerned about weak consumer price gains in Tokyo. BOJ is most likely to reach its target of 2% Inflation in the first half of 2016.
"Exports had shown signs of a pick-up on the back of improvement in external demand and of the effects of the euro's depreciation. Corporate results had been improving, partly due to the depreciation of the euro, and business sentiment had also shown movements toward a pick-up" - Bank of Japan minutes.
In US Core Durable Goods Orders rose by 0.5% in May, while total orders for durable goods plunged by 1.8% for the month of May.
Crude Oil is trading higher at $61.57 on expectations for a weekly decline in US crude supplies.
Gold is trading lower in the Europe at 1179.51, while Silver is weak at 15.91
24th June 2015 – 10:00hrs GMT
For more in depth Research & Analysis please visit FxGrow.
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.
Daily Technical Analysis – 25th June, 2015
By FxGrow Research & Analysis Team
EURUSD
EURUSD was indecisive yesterday and remained neutral towards the end of the trading session. Now the pair is trading just near its 20day moving average of 1.1201 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.1150
RSI (14), CCI (14) are Neutral; ADX (14), Ultimate Oscillator, MA100, MA200 indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.
Support is at 1.1188 while Resistance is at 1.1216
25th June 2015 – 06:06hrs GMT
GBPUSD
GBPUSD was indecisive yesterday remaining weak towards the end of the trading session. Now the pair is trading below its 20day moving average of 1.5706 in the European trading session. The near term bias remains Neutral to Bearish with targets of 1.5650
RSI (14), STOCH (9, 6), MACD (12, 26), CCI (14), MA100 indicate a SELL; ADX (14) is Neutral; while Average True Range (14) indicates Less Volatility.
Support is at 1.5665 while Resistance is at 1.5801
25th June 2015 – 06:10hrs GMT
For more in depth Research & Analysis please visit FxGrow.
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.
Daily Technical Analysis – 25th June, 2015
By FxGrow Research & Analysis Team
AUDUSD
AUDUSD was lower yesterday and touched a low of 0.7683 but then it corrected upwards towards the end of the trading session. Now the pair is trading above its 20day moving average of 0.7717 in the European trading session. The near term bias remains Bullish with targets of 0.7800
RSI (14), STOCH (9, 6), MACD (12, 26), ADX (14), Ultimate Oscillator, ROC indicate a BUY; while Average True Range (14) indicates Less Volatility.
Support is at 0.7718 while Resistance is at 0.7760
25th June 2015 – 06:13hrs GMT
USDJPY
USDJPY was higher yesterday and peaked at 124.35 but then it corrected lower towards the end of the trading session. Now it is trading below its 20day moving average of 123.88 in the European trading session. The near term bias remains Bearish with targets of 123.00
RSI (14), STOCH (9, 6), MACD (12, 26), CCI (14), Ultimate Oscillator, ROC indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.
Support is at 123.59 while Resistance is at 124.37
25th June 2015 – 06:17hrs GMT
For more in depth Research & Analysis please visit FxGrow.
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.