Daily Market Analysis by FxGrow - page 19
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Daily Technical Analysis – 14th Aug, 2015
By FxGrow Research & Analysis Team
AUDUSD
AUDUSD was bearish yesterday and touched a low of 0.7321 and then recovered towards the end of the trading session. Now the pair is trading above its 20day moving average of 0.7362 in the European trading session. The near term bias remains Bullish with targets of 0.7450
RSI (14), MACD (12, 26), ADX (14), CCI (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a BUY; STOCHRSI (14) is Overbought; while Average True Range (14) indicates Less Volatility.
Support is at 0.7327 while Resistance is at 0.7394
14th Aug 2015 – 06:57hrs GMT
USDJPY
USDJPY was indecisive yesterday towards the end of the trading session. Now the pair is trading below its 20day moving average of 124.41 in the European trading session. The near term bias remains Bearish with targets of 124.00
RSI (14), ADX (14), Ultimate Oscillator, ROC, MA100, MA200 indicate a SELL; STOCHRSI (14) is Oversold; while Average True Range (14) indicates Less Volatility.
Support is at 124.22 while Resistance is at 124.47
14th Aug 2015 – 07:00hrs 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 Market Analysis – 14th Aug, 2015
By FxGrow Research & Analysis Team
Greek parliament approves €85bn bailout deal
Greek parliament has approved the new €85bn rescue package following a debate and voting on the deal on Friday.
The new deal which seeks harsh austerity measures was approved with 222 votes for, 64 votes against and 11 absent in a 24 hour session in the Greek parliament.
Greek PM Alexis Tsipras is facing harsh criticism from his own party for accepting the demands of its European creditors, with several members showing dissent and threatening to split the party and call for early elections in Greece.
EURUSD was supported by the news that Greek parliament has approved the new bailout deal terms and is currently trading above the 1.1100 level at 1.1133 in the European trading session.
International Monetary Fund has welcomed the bailout deal but said that it will wait to see if there is a plan for reducing Greece's debt.
“The IMF will remain closely engaged with the Greek government and the European partners to assist in this process, and will make an assessment of its participation in providing any additional financing to Greece once the steps on the authorities’ program and debt relief have been taken” - Delia Velculescu, IMF.
“The IMF has been adopting a line of, not silence but, we try to be mindful of developments and not be excessive in our positions” - IMF managing director.
“There’s a need for difficult decisions on both sides and by both sides. I think everybody understands that the IMF can only be involved when these decisions on these two sides are taken.” - Senior IMF official.
Greek PM has called French president François Hollande, European Commission president, leader of European parliament members for approval of the rescue package by the Euro group.
Greece Economy has grown unexpectedly in the second quarter of the 2015 as its GDP rose 0.8% from the previous quarter.
“The surprise is partly explained by some consumption indices, such as retail sales, that were in positive territory in the second quarter and this was helped by some improvement in the labor market. There was also a very strong positive impact from tourism, which is having increasing knock-on effects on the economy” - Nikos Magginas, economist at National Bank of Greece.
The Peoples Bank of China put the Yuan's central parity rate at 6.4010 Yuan for US$1, a drop of 1.11% from the previous day.
“The central bank, if necessary, is fully capable of stabilizing the exchange rate through direct intervention in the foreign exchange market to avoid the herd mentality resulting in irrational movements of the rate” - Peoples Bank of China economist Ma Jun.
In New Zealand Retail sales fell short of analyst expectations. Retail sales in the second quarter of the 2015 grew by 0.1% while the expectations were for a 0.5% growth.
Weak economic data from New Zealand has increased the expectations for a further rate cut by the Reserve Bank of New Zealand.
Crude oil is trading lower at $41.92 on oversupply concerns and weak global demand.
Gold is trading higher in the Europe at 1117.34, while Silver is up at 15.46
14th Aug 2015 – 08:57hrs 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.
FxGrow Daily Technical Analysis – 17th Aug, 2015
By FxGrow Research & Analysis Team
EURUSD (D1) Will the price fall after two bearish formations?
Double Top at 1.121 EURUSD and broken growth channel. The second formation is Evening Star (blue color on chart). Target Falls: 1.082
Alternative Scenario: Moving back inside bullish channel.
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.
FxGrow Daily Technical Analysis – 18th Aug, 2015
By FxGrow Research & Analysis Team
USDCAD ends correction and now it's time for a new peak
USDCAD (US Dollar vs. Canadian Dollar) is at levels which were seen in 2004. Traders are biding higher levels what asures that the current trend will maintain. The rally is also supported by the structure of the current growth which formed since bottom made in 2012 a characteristic pattern described in Elliott Wave Theory as a 'Impulse Wave'.
The nearest resistance levels are 1.3212 (last peak), then 1.33 and 1.35. The last level is a Fibonnacci dependence where wave 1 = wave 5.
Last week USDCAD breached higher out of the downward channel and now it is moving towards the last peak. On 1-hour time frame the price tested the lower bound of the upward channel what have triggered a demand-side response.
For this currency pair long positions are preferred.
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.
FxGrow Daily Technical Analysis – 20th Aug, 2015
By FxGrow Research & Analysis Team
USDCHF - bottom exit from consolidation and breached out support
For a week USDCHF was moving in consolidation and created a channel with the width of 75 pips
Yesterday, the bears were able to breach out of the channel bottom and momentum to break the next support. In the chart it is also showed that there has been a re-test of broken support which has now become resistance. At daily interval situation is even more ambigous.
Yesterday's candle breach out of the channel bottom with great force and now it is expected that soon it will move in the direction of 0.95000.
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.
FxGrow Daily Technical Analysis – 25th Aug, 2015
By FxGrow Research & Analysis Team
Test of the longterm trend line and defense of support on GBPJPY.
GBPJPY is moving in an upward trend since the beginning of 2012. Although for the last 10 weeks GBPJPY did not break the peaks, but the upward trend is not compromised. Last Friday the bears were able to breach out of the channel bottom (interval H4) in which GBPJPY moved for 1.5 weeks. The result was yesterday's downward dynamic movement, which led price below July's support. Bulls, quickly began to buy and on the chart pemained only a long lower shadow.
Weekly interval.
The current weekly candle has supported the upward trend line and is the third test of this line of 2012. The resistance that stopped move up at the level 195.00 was created in the years 2005, 2008 and it is the first serious test for the bulls since 2013.
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.
FxGrow Daily Technical Analysis – 25th Aug, 2015
By FxGrow Research & Analysis Team
NZDUSD - 400 pips in 15 minutes and a false breakout from consolidation
New Zealand Dollar to US Dollar Rate moves in a downward trend since mid-2014 year. The movement of prices over the past four months took the shape of the downward channel, in which the price has dropped from 0.77 to 0.65.
In early August NZDUSD broke out successfully from the downward channel and created a consolidation. Yesterday it made a dynamic move downward breaking the bottom of a consolidation and then a moment later it returned to the inside. The support that stopped the descent is in the level of 0.6135, and these are the levels at which the NZDUSD has not been since 2009.
Interval H4
After returning to the consolidation NZDUSD tries to break next intraday resistance which is the level of 0.6530. If the break will be successful the target of move up will be level 0.6700.
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.
FxGrow Daily Technical Analysis – 26th Aug, 2015
By FxGrow Research & Analysis Team
GBPUSD - move in the upward channel and attempt to exit from consolidation
From the bottom of 7 August formed the upward channel, in which "Cable" moves. Currently, the lower limit of the channel is located at 1.5667 and right now price moving in that direction. The movement of GBPUSD below 1.5667 level will indicate breakout of upward channel and return to the interior of consolidation. Rebound of this level will begin a new upward
Last week I pointed out consolidation, which the GBPUSD broke up on Monday. However, yesterday there was a return movement that could mean a re-test of the consolidation or a false breakout and return to its interior.
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.
FxGrow Daily Technical Analysis – 27th Aug, 2015
By FxGrow Research & Analysis Team
EURUSD broke out of the triangle, range of breaking 1.2400
EURUSD on Monday reached the highs of January 2015. At the same time there has been a breakout of the triangle, which was forming since February of this year. Today's session will be very important because yesterday the EURUSD returned to the interior of the triangle, but descents stopped at its upper limit. If the breakout is successful range of breaking is the level of 1.2400 However if there has been returning move to a triangle it is not excluded that the proper breakout of the triangle It will be down, and then its range of breaking will be around 1.0000
Interval H4
Descents stopped at the fibo 61,8% last move and it will be a good moment to return to upward movement.
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.
FxGrow Daily Technical Analysis – 27th Aug, 2015
By FxGrow Research & Analysis Team
EURJPY - August minimum test
EURJPY moves for a month in a flat consolidation between 135.00 - 139.00. At the moment it is testing a lower limit of this consolidation. Successful break of this support will take a price to 133.30 and its defense will move towards 139.00.
Interval H4
On Monday after attempt of breaking top of consolidation price formed double peak formation. EURJPY dynamically move inside downward trend channel. The first sign that this support will stop descent will be break upper limit of this channel.
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.