Daily Technical Analysis by FxGrow - page 56
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FxGrow Daily Technical Analysis – 06th Oct, 2016
By FxGrow Research & Analysis Team
EUR/USD SLIDES BELOW 1.1200, AWAITING TENTATIVE ECB
EUR/USD dropped yesterday from 1.1233 clocking a low 1.1189 after receiving a positive news on the U.S Dollar. Traders were awaiting the German factory orders at 7 AM GMT this morning which came disappointing. As a result, the EURO continues to suffer facing the greenback. EUR/USD still has a chance to redeem itself as financial analysts awaits the ECB meetings results as they hints for rising Euro-zone government bond, and later on U.S payroll data due on Friday. These two reports will give a better picture on how the trend of the EUR/USD will move, also because there are crucial news on the U.S market.
Trend: Bearish
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 – 06th Oct, 2016
By FxGrow Research & Analysis Team
SILVER REMAINS BEARISH AFTER TUESDAY'S EXTENDED SELLOFF
XAGUSD started a dramatic bearish trend on Monday 3rd of Oct dropping from 19.31 (high) to 18.71 (low). Silver continued its bearish trend the following days hitting bottom 17.54, lowest since 28th Jun. The major drop is justified to positive news on U.S financial market starting by Monday. In addition to the increased expectations of a Fed rate hike by the end of the year given strong U.S economic projections. U.S dollar has been moving very strong against the metals awaiting further data to be released. Currently, silver is nearly unchanged at 17.70 an ounce. To summarize silver performance during this week, the shiny metal dropped this week from 19.31 clocking 17.54 lows (177pips). Tomorrow major news on U.S Dollar will give a wider image whether XAGUSD will continue diving or makes a correction and re-bounces.
Trend: Bearish
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 – 07th Oct, 2016
By FxGrow Research & Analysis Team
U.S DOLLAR EXTENDS MARKET DOMINATION STILL, SENDING USD/CAD TO 1.3252 HIGH
The greenback keeps a tight fist on the Canadian dollar for the 7th consecutive day pushing USD/CAD close to a new high since 24th march. USD/CAD opened in Asian session with a continuous bullish rise rallying from 1.3213 to 1.3263 high . Weak Crude oil inventories was not enough to interfere in USD/CAD bullish trend given that local Canadian economic data beats expectations. Right now, USD/CAD is trading at 1.3256 intraday and all eyes today first on Canadian Employment change and Unemployment rate, next U.S NFP and unemployment rate. This will create a battle between U.S and Canadian Dollar to decide which trend will take on.
Trend: Bullish
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 – 10th Oct, 2016
By FxGrow Research & Analysis Team
MEXICAN PESOS STRENGTHEN AS CLINTON TRUMP DEBATE ENDS
USD/MXN opened with -3% gap difference between Friday's closing 19.30 and Monday opening 18.98 trading sessions. The Mexican Pesos ended a four weeks high against the U.S Dollar after Clinton V.S trump debate ended sending the USD/MXN below 19 handle. U.S polls survey ended declaring Clinton's win after Trump vulgar comments about the women thus the USD/MXN slumps and currently trading at 18.94.
Trend: bearish.
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 – 10th Oct, 2016
By FxGrow Research & Analysis Team
THE EUR/USD REMAINS TRADING IT'S WIDER RANGE AS BREXIT FEARS VANQUISH , EYES ON GERMAN ZEW TOMORROW
The EUR/USD tumbled on 3rd of Aug after good performance on previous sessions dropping from 1.1250 the highest level since October 3 to 1.1104. The greenback has received major positive shock waves starting by Monday, and extended till Thursday leaving the EUR in awkward situation as U.S dollar index kept rising. Even though the EUR received some positive news like German and French industrial production, the EUR/USD couldn't find salvation and kept swinging into downward supports. disappointing US NFP data on Friday 7th pushed the EUR/USD higher given that US interest rate hike speculations faded. As a result, the EUR/USD took a hike rising from 1.1104 to 1.1205 (+101 pip).
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.
As i think about USDCAD index is
SL1 : 1.31450
SL2 : 1.31246
Current : 1.31695
TP1 : 1.32002
TP2 : 1.32505
FxGrow Daily Technical Analysis – 11th Oct, 2016
By FxGrow Research & Analysis Team
AUD/USD DROPS IN RESPONSE TO NEGATIVE AUD HOUSING LOANS
AUD/USD dropped from 0.7609 (today's high) reaching the bottom of 0.7543 ( today's low) on Asian opening trading sessions in response to -3% home loans that fell 3% in Aug, weaker than consensus (-1.5%), closer to TD’s estimate of –2.5% and July’s drop of –4.2% was revised to –4.5%. This was the largest back-to-back decline in 5 years. Although business confidence came positive but it was not enough to balance the equation. add to that the third American presidential debate gave positive shock to the U.S Dollar facing the Aussie.
Trend : bearish.
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 – 12th Oct, 2016
By FxGrow Research & Analysis Team
The British pound rose after Theresa May’s agreement
The GBPUSD surged this morning as the British Prime Minister May offers to make investigations as the market fears a hard BREXIT phenomena.
The GBPUSD rose mainly 2% to touch 1.2325 high but might follow a decline as negotiations shifts advantage toward the European Union knowing that May accepted to vote for the separation from the EU. Thus the GBPUSD might expand its bearish move toward 1.2022 and 1.1950 once it breaks the strong point 1.2075.
However, hard BREXIT risk might have receded as most parliament members see an EU friendly image and the GBPUSD needs to break the minor resistance point 1.2365 in order to pave its way toward next resistance levels 1.2405 and 1.2475.
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 – 13th Oct, 2016
By FxGrow Research & Analysis Team
JAPANESE YEN STRENGTHEN AFTER DISAPPOINTING CHINESE DATA
USD/JPY dropped 90 pips on early morning trading sessions in response to negative Chinese trading balance.The worse-than expected Chinese trade figures spooked markets, and weighed heavily on the risk-associated space, causing a drop in equities and US bond yields thus surging the Japanese Yen higher. The Nikkei 225 index erased gains and now drops -0.30% to trade around 16,790 levels. Exports in September dropped 10% in dollar terms and imports fell 1.9 percent, with a trade surplus of $41.99 billion. Add to that a 0.2% increase in Japanese banking loads bolstered the safe haven Yen against U.S Dollar.
USD/JPY opened at 104.63 (10 weeks high) and due to the above financial reports catalysts, the pair scored 103.55 lows (-113 pip). USD/JPY made a tiny re-bounce currently trading 103.75 intraday, still managed to stay below daily Pivot 103.98.
Trend: Neutral bullish
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 – 14th Oct, 2016
By FxGrow Research & Analysis Team
EUR/USD SINKS TO 8 WEEKS LOW, AWAITING U.S DATA, LATER ON YELLEN
EUR/USD dropped yesterday to 1.0985 low reaching it's lowest price since July. The U.S dollar still keeps a tight fist facing major currencies, the US dollar index jumped +0.28% to fresh session highs of 97.82, heading back towards fresh seven-month highs of 98.12 reached a day before as the latest FOMC meeting released encouraged a Fed rate hike in December. The pair made a re-bounce to 1.1058 (today's high) but then digested yesterday's gains in Asian trading sessions -0.28% ahead of Yellen speech. Currently trading at 1.1024, still a bit below the daily pivot. The EURO is in desperate need for negative reports in the U.S financial market to make a correction to it's usual position and today, we may witness this scenario due to crucial U.S news and Yellen speech.
The greenback picked-up significant strength facing its major rivals, mainly driven by a sharp rally in the US treasury yields, which suggest that a Fed rate hike in Dec is almost confirmed.
Trend: bearish
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.